Do I lose profit when I don't pay Binance fees with BNB?
💸 PROFIT LOSS ALERT 💸
Anny's team estimated that 40% of all transactions in the last 3 months had their profit compromised because the user doesn't use BNB to pay for fees or has no BNB balance.
🚨 The profitability loss goes beyond the additional discount that Binance offers!
When you don't use BNB to pay the fee, you use the coin that you are buying to pay for the fee. This will cause your balance to be broken to decimal places. Binance has specific trade rules for each currency and most of them don't accept order amounts with decimal places.
If you buy 14 LINK and pay the commission fee with LINK, you will end up with 14 - 0.014 LINKs or 13.98 LINK
When selling, the LINK rule dictates that decimal places can't be sent, so you can only sell 13 LINK
In addition to paying the commission fee in BTC, you have 0.98 LINK unsold and not counting in your profit.
7% of your coins couldn't be sold to account for your profit
In addition, you will pay the commission fee in BTC, with no discounts.
WHAT TO DO?
When there are small balances of currencies that you can't use, you can convert them into BNB
Turn on the (Using BNB to pay for fees) function
Binance: Using BNB to Pay for Fees
Receive an additional 20% cashback in BNB on the commission fee of all your orders by registering with Binance using our affiliate link: