free web page hit counter
Binance US recurring buy SKIMMING OFF THE TOP

Binance US recurring buy SKIMMING OFF THE TOP

All Cryptocurrencies

by COINS NEWS 17 Views

I set up a recurring buy on binance us. Noticed fees for it are 0.5%, much higher than the 0.1% otherwise. Fine, it’s a more convenient service, so even though setting up a recurring buy myself via their API is super easy, I can see a 0.5% fee (coin base pros regular fee now anyway) justified.

The problem is, at least another 0.5% is taken off the top. Maybe been up to 1%. I’ve looked at it two ways. I’ve watched the order book at time of order execution: a market order would easily fill at a price 0.5%-1% lower. I’ve also looked at candlesticks at time of execution. If I use 15 min candlesticks and look at two (15 min before and 15 min after order execution), the maximum buy price I could have executed at would have been such that binance would have skimmed 0.5% to make the math work.

They are definitely fucking me and anyone else using their recurring buy to DCA (probably eating most of the DCA benefits themselves in effect), and that is NOT OKAY!!!

submitted by /u/iamtheredditor
[link] [comments]