Binance Revises VIP Program: New Spot and Margin Trading Fees for VIP Users
Binance,
a
leading
cryptocurrency
exchange,
has
announced
updates
to
its
VIP
Program,
which
will
affect
spot
and
margin
trading
fees
for
VIP
5
to
VIP
8
users.
Additionally,
the
platform
will
lower
trade
volume
requirements
for
VIP
4
users.
These
changes
will
take
effect
from
July
18,
2024,
at
00:00
(UTC),
according
to
Binance.
Key
Updates
The
primary
changes
announced
include:
-
Updates
to
the
Maker
and
Taker
fees
for
Spot
and
Margin
VIP
5
to
VIP
8
users. -
A
reduction
in
the
30-Day
Trade
Volume
requirement
for
Spot
and
Margin
VIP
4
users
from
≥
100,000,000
USD
to
≥
75,000,000
USD.
These
adjustments
aim
to
provide
more
value
and
competitive
services
to
Binance
users.
The
standard
maker
and
taker
fees,
along
with
the
30-Day
Trade
Volume
requirements,
will
be
reinstated
after
the
offering
ends
on
October
18,
2024,
at
00:00
(UTC).
VIP
Fee
Structure
The
updated
fee
structure
will
impact
the
trading
volume
calculations,
which
encompass
all
Spot
volumes
from
Spot,
Margin,
Trading
Bots,
Spot
Copy
Trading,
and
Convert.
These
values
are
calculated
in
USD
equivalents
based
on
the
exchange
rate
under
Binance’s
Multi-Assets
mode.
Terms
&
Conditions
Binance
outlined
several
terms
and
conditions
for
the
updated
VIP
Program:
-
Spot
and
margin
trading
volumes
will
be
tabulated
daily
between
01:00
(UTC)
and
05:00
(UTC).
VIP
tier
and
fee
adjustments
may
differ
from
the
trading
volume
tabulation
timings. -
Binance
reserves
the
right
to
disqualify
trades
considered
to
be
wash
trades,
illegal
bulk
account
registrations,
or
trades
that
exhibit
self-dealing
or
market
manipulation. -
Participants
who
tamper
with
Binance
program
code
or
interfere
with
its
operation
using
other
software
may
also
be
disqualified. -
All
trading
volume
and
metrics
related
to
the
promotion
are
measured
at
Binance’s
sole
discretion. -
Users
can
find
more
information
on
promotional
Spot
and
Margin
trading
pairs
on
Binance’s
website. -
Binance
reserves
the
right
to
amend
or
terminate
this
promotion
at
its
sole
discretion
for
reasons
including
regulatory
changes,
legal
obligations,
anti-money
laundering
rules,
technical
issues,
user
protection,
or
extraordinary
circumstances
beyond
control.
For
more
details
on
how
to
become
a
VIP
and
the
associated
benefits,
users
can
refer
to
the
VIP
and
Institutional
Services
page
on
Binance’s
website.
Binance
cautions
users
about
potential
discrepancies
in
translated
versions
of
the
announcement
and
advises
referring
to
the
original
English
version
for
the
most
accurate
information.
Disclaimer:
The
prices
of
digital
assets
are
subject
to
high
market
risk
and
price
volatility.
Investment
decisions
should
be
made
carefully,
considering
individual
financial
situations,
investment
objectives,
and
risk
tolerance.
Binance
is
not
liable
for
any
losses
incurred.
Past
performance
is
not
indicative
of
future
results.
Image
source:
Shutterstock
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