![](https://cdn.steemitimages.com/DQmR7vLNXT6eetoc2qMReGCRi4kzQMDhwr4bZhNm8zJnwgH/image.png)
Hey guys! Today I'm going back to my roots, posting news, information and just anything crypto related! Today I'd like to share with you Binance's new fee structure! 

## Short Intro
For those who don't have [Binance](https://www.binance.com/?ref=10760127) yet, it's the most well-known and widely used crypto-trading website. I used it for all my crypto trading at the moment as it has all the cryptos I trade (Steem and BTC). If you don't have an account yet, feel free to sign up with that link (note: referral link). 

# Binance's New Fee Structure 
![](https://cdn.steemitimages.com/DQmTjJ4f5ffaeqrhC2E3HyBuZqRJxHmKVEUiongQbb9mTcR/image.png)

## Explained 

Basically, on top of the existing 50% discount you get, by increasing your volume and holding more BNB tokens, you can decrease your fees even more, down to around a minimum or 0.01% for makers and 0.02% for takers (with the 50% off using BNB to pay). 

To qualify for a tier, you need to meet both the BNB balance requirement AND the 30 day trading volume. So you need to be an active trader and a pretty large investor to really hit that VIP 3 and above range. 

## My Feelings Towards This
I personally feel the BNB balance required is quite steep, I doubt there's a lot of small-medium investors with over 1000 BNBs, so this will mostly be benefiting whales using trading bots. I don't think this is a realistic payment structure for an actual human trader like myself. I am considering trying to hit VIP 1, but the reduction in fees is so slight that I almost feel like there's no point!