For instance, you can use BNB to pay for your travel expenses, buy virtual gifts, and much more. But let’s take a look at how BNB can help you with trading fees. When trading on the Binance Exchange, each trade will incur in a standard fee of 0.1% (trading fees are determined by your monthly trading volume and BNB holdings). You can either pay the trading fees using the assets you are trading or you can pay for them with BNB. If you choose to pay in BNB, you will get a special discount on your trading fees.
Therefore, if you trade a lot on Binance, you should consider getting more BNB and using them to pay for your fees. Keep in mind that the deduction for trading fees follows a specific schedule, so make sure to check the current spot trading Fee Schedule. It’s also worth noting that the Binance Futures platform follows a slightly different Fee Schedule.