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