Reduction of commission on the exchange Binance
Every time the exchange order is triggered for purchase, additional purchase, for sale, commission will be charged in the amount of 0.10 %.
As a result, if a bot makes 50-100 or more trades per day, we lose a lot on commission.
To reduce the size of the commission to 0.075 % on Binance there is a discount if you pay the Commission in their coin BNB.
To activate this function, go to the user center https://www.binance.com/en/my/dashboard and perform such action.
After that go https://www.binance.com/en/trade/BNB_USDT and buy 1-2 BNB coins, or more, depending on your trading volumes.
With a volume of $ 1000 — 1 BNB coin is enough for a month of work with the bot.
It also eliminates the problem with part of the reserved funds for commissions of different coins. If you make a trade with any coin for the first time, and let’s say you bought 4 coins ONT, then the commission is not removed from the PTC, but from the ONT, and 0.99 coins go to the reserve to pay the commission for subsequent transactions. Accordingly, when trading you have these pieces of different coins that you cannot sell. Therefore, payment of BNB commissions is the best solution.
Also, if you used to trade on Binance, and you still have the fund balances, they can be converted to BNB. To do this, go to the Balance of the exchange, https://www.binance.com/en/my/wallet/account/main and click “Convert to BNB”.
Next, the system displays all the remains of coins, you need to select the desired and convert to BNB by clicking the” Exchange”.