Binance, like all other cryptocurrency exchanges, has a maker-take pricing and fee model. In this system, the taker is when you place an order at the market price that is filled immediately, and you are charged some fees for the books. Maker is when you place an order that does not need to be filled immediately, so the order is placed in the order book and this also adds liquidity to the market. The exchange (Binance) pays you a small percentage per transaction to facilitate and encourage such maker transactions.
The Maker Taker at Binance
Binance has various levels, or VIP levels, depending upon the volume of the trade over a 30 day period. It also takes into account the BNB/ Binance coin holdings unless the trader is at a general level. The maker taker's fees are charged or credited, starting from 0.1% to 0.02% depending upon which slab out of these the trader falls in. For example, if you trade more than or equal to 80000 BTC and hold about 9000 BNB for a 30 day period, you fall in slab VIP 7, and the maker fees would be 0.03% and the taker fees for this slab would be 0.05%. Both the maker and taker fees tend to lower down as you progress the slab in terms of increasing trade volume, but overall the taker fees at Binance remain the same or more than the maker fee. And that gap is the margin of the exchange. There are in total 9 slabs, 1 general, with the lowest volumes and then progressing from VIP 1 to VIP 8 with increasing volumes of both the trade and the Binance coin holdings.
Another peculiarity is that withdrawal fees are regularly changed and adjusted as per blockchain conditions. That infuses a bit of uncertainty into the trade, and more so if the volumes are small.
Choosing an Exchange
Choosing an exchange thus becomes very important for trading, because of all such considerations, like the trading interface, the maker taker fee, the withdrawal fee, the accepted cryptocurrencies, the accepted funding methods etc., play an important role as to how seamless the trading experience is and how much money can you make depending upon your trading parameters and choices, given the current market conditions. Investors, large or small, today are going in for the services of professional consultants like executium.com before they even decide on an exchange. This is because such platforms are easy to use, offer multiple exchanges, and also help the investor decide as to which must be the domicile exchange, and when to tap other exchanges. Executium.com is an online platform that assists its customers decide all this, coming up with a portfolio of investments at different exchanges, and with different cryptocurrencies so that the client is able to churn the maximum possible profits from his desired investment over his desired spread.
You must choose a service provider that has multiple exchanges and multiple cryptocurrencies, and at the same time a large number of buyers and sellers in the market. Executium.com is one such platform that masters into all facades its ventures related to cryptocurrency and the clients are really satisfied.