Buying BNB to cover your Trading Fees

When you’re low on BNB and you want to buy some extra for your Trading Fees, it’s not needed to create an Order for this. Learn how to Buy some BNB quickly through PacifyPro

Market Buy without Creating an Order

As you probably know, Binance will charge you a fee for all the orders at their exchange. When you have some BNB in your account, you’ll automatically get a discount on these Trading Fees. Learn more about the fee structure at the bottom of this article.

PacifyPro will automatically send you a notification when your account is running low on BNB.

Buy some BNB

In order to immediately buy some BNB with your Bitcoin, use this command:

/xbuy bnb/btc 0.001

With this command you’ll buy 0.001 Bitcoin worth of BNB. If you’re not using Bitcoin, but s stable coin you can offcourse use that too:

/xbuy bnb/usdt 20

In that case you’ll buy 20 USDT worth of BNB.

Instantly Bought

The ‘xbuy’ or ‘xsell’ commands are instant Market Buys and Sells and won’t create an Order in the Tool itself. They’re executed immediately and very useful when you’re in quick need of some extra BNB, USDT, BTC or whatever coin you need.

Adjust the Notifications

Do you want to get notified when your balance is running low quicker or not at all? Than you can adjust this notification. This one will send you a nudge when you have less than 0.01 BNB in your balance:

/set minbalance bnb 0.01

This one will turn off these notifications:

/set minbalance bnb na

How much BNB do you recommend to hold?

The amount of BNB you need is highly depending on your portfolio size and trade size even more.

If you’re trading with your complete portfolio, it’s a good idea to have 1 or 2 percent in BNB holdings to cover for your Trading Fees.

Why would you Buy BinanceCoin (BNB)?

As mentioned Binance charges a Trading Fee for all your Trading activity. Unless you’re a VIP Member at Binance, they will charge you 0.10% when you buy and 0.10% when you sell. So for one completed trade this this means you’ll pay 0.20% of the trade amount on Trading Fees.

Example:

If you buy 1,000 XRP at the exchange (and you don’t hold any BNB in your wallet) you will receive 1,000 – 0.10% = 999 XRP. The 1 XRP will be used to cover for the Trading Fee in this case. 

If you’re holding BNB in your wallet though, you will receive a 25% discount on Trading Fees and all the fees will be paid with BNB instead of the coin you’re trying to buy or sell.

Why is it Important to use BNB with PacifyPro?

In the example above you noticed that once your order of 1,000 XRP gets filled (and you’re not using BNB for the fees), you will only receive 999 XRP. Once you try to close this order, PacifyPro will try to sell 1,000 XRP though as that was the original amount of your oder. That sell wil result in a failed sell as you’re holding only 999 XRP at that stage.

Therefor it’s better to pay your Trading Fees with BNB so you 1) get that 25% discount on the fees plus 2) it prevents failed sells due to irregularities in amounts.

Any questions?

Don’t hesitate to reach out if you have any questions regarding this article or our services.

Related

7-Day
FREE Trial

Enjoy the Full Benefits of PacifyPro absolutely for FREE without any limitations!

* no credit card needed

Related Articles

Drop us a line or two, we are open for feedback or collaborations!

Drop your message

Fill out your details