Saving Big On Binance Maker Fees.

Saving Big On Binance Maker Fees.
Binance Extends Zero Maker Fee Promotion for BUSD to December 2021 | Binance Support
Fellow Binancians, Due to popular demand, we will be extending the end date of the Zero Maker Fee Promotion for BUSD to 2021-12-31 0:00 AM (UTC), a six-month extension from the previously schedul...

I could have saved 8k on fees.

And it was really simple.

Hiding in plain sight.

I was already saving 0.025% paying my Binance fees with BNB.

But there was something much easier I could have done.

The answer.

Trade the same coins with the quote currency being BUSD instead of USDT.

What's the difference?

Not much really.

One is owned by Binance and the other is a standalone coin.

Both pegged to the US Dollar.

So what should I have done?

Let's look at an example.

Say I was trading SHIB/USDT.

In this scenario, I have to buy BNB to get a fee discount of 0.025%. That means I was paying an overall fee of 0.075%.

Again, USDT is pegged to the US dollar.

Now if I setup SHIB/BUSD, I would pay ZERO fees.

ZERO.

BUCKLEYS.

Now these bots have traded over 8 million dollars on my behalf, and the saving I could have made was around 8k at the time of writing this post.

That is money for nothing and could have been in my pocket and boosted my profits. Massively.

Now, I am going to do a complete overhaul of all my coin pairs in a few days to take full advantage of this.

One last thing, Bybit also have 0% maker fees and on futures, they pay you 0.025%.

Unfortunately, Bybit is not supported by Bitsgap, but I am hounding them like no tomorrow.  

Safe trading.

Simon