Binance, a leading cryptocurrency exchange, has announced an update to its VIP program, which will affect spot and margin trading fees for VIP 5 to VIP 8 users. The platform will also lower the trading volume requirements for VIP 4 users. According to Binance, these changes will take effect from July 18, 2024, 00:00 (UTC).
Major Updates
The major changes announced are:
- Maker and Taker fees for Spot and Margin VIP 5~VIP 8 users have been updated.
- The 30-day trading volume requirement for Spot and Margin VIP 4 users has been reduced from ≥ USD 100,000,000 to ≥ USD 75,000,000.
These adjustments are aimed at providing Binance users with more value and competitive services. Standard maker and taker fees and 30-day volume requirements will be restored after the offering ends on October 18, 2024 at 00:00 (UTC).
VIP Fee Structure
The updated fee structure affects volume calculations, which include all spot volume, margin volume, etc. Trading botSpot Copy Trading, Convert. These values are converted to USD based on the exchange rate in Binance’s Multi-Assets mode.
Terms of Use
Binance has outlined some of the terms and conditions for its updated VIP program.
- Spot and margin trading volumes are aggregated daily between 01:00 (UTC) and 05:00 (UTC). VIP tiers and fee adjustments may differ from the trading volume aggregation timing.
- Binance reserves the right to disqualify any trades that it deems to be wash trading, illegal bulk account registrations, or trades that reveal self-dealing or market manipulation.
- Participants who manipulate Binance program code or interfere with its operation using other software may also be disqualified.
- All trading volumes and metrics related to the promotion are measured at the sole discretion of Binance.
- Users can check detailed information about promotional spot and margin trading pairs on the Binance website.
- Binance reserves the right to modify or terminate this promotion at its sole discretion for various reasons, including regulatory changes, legal obligations, anti-money laundering rules, technical issues, user protection, or special circumstances beyond its control.
For more information on how to become a VIP and the associated benefits, please refer to the VIP and Institutional Services page on the Binance website.
Binance warns users that there may be discrepancies in the translation of the announcement and recommends that users refer to the original English version for the most accurate information.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. Investment decisions should be made carefully, taking into account your personal financial situation, investment objectives, and risk tolerance. Binance is not responsible for any losses incurred. Past performance is not indicative of future results.
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