As aforementioned, BNB has many different uses, ranging from buying virtual gifts to paying travel expenses and there are more and more use cases.
Regarding the trading fees, each order of trade will incur a standard fee of 0.1% (the amount is proportional to your trading volume) and investors can either pay in terms of the assets that you are trading or pay BNB. A special discount on your trading fees can be earned when choosing to pay in BNB.
All in all, it is recommended for frequent traders on Binance to consider getting more BNB to pay trading fees at a cheaper price. Please be aware that the discount on the trading fee follows a predefined schedule and the deduction will be reduced yearly until 2021.
| Year | Discount |
|---|---|
| Year 1 (July 14, 2017 - July 14, 2018) | 50% |
| Year 2(July 14, 2018 - July 14, 2019) | 25% |
| Year 3 (July 14, 2019 - July 14, 2020) | 12.5% |
| Year 4 (July 14, 2020 - July 14, 2021) | 6.75% |
| Year 5 (July 14, 2021 - July 14, 2022) | 0% (No Discount) |
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