I just noticed that withdrawing from Binance using BTC is ridiculously expensive compared to BNB, which is almost nothing. So I was wondering, why am I not using it? Why don't YOU use it? I feel like there is a catch, just don't know what it is.
1) I use USDC to trade. Should I switch over to BNB? Why? Why not?
2) What are the advantages? Is it only to save on fees? If so, would there be any disadvantages that would negate that benefit?
3) (a)Do I have to pair the crypto I'm trading with BNB in order to use BNB to avail the low fees? (b)Or can I just exchange currency for some BNB to hold in my wallet and Binance will use that BNB to pay fees?
All services will pamper customers who use their utility coins.
1) Keep in mind that BNB fluctuates. Maybe you should also pay attention to the price of BNB because you are making it a hedge.
2) Nothing. Binance obviously only offers a 25% discount on fees, nothing else.
3)(a)The answer is the same as point 1) and in addition, the pairs for BNB may not be as many as the stable coin pairs.
(b)That's better than option (a), but it also depends on how big your portfolio is and how often you execute. The smaller it is, the 25% off fees is meaningless.
To be honest, I don't really like this kind of trading because I have to do complicated calculations just for trading fees.