One of the things you need to know when you decide to invest in cryptocurrency is that crypto exchanges are charged. There are certain fees for depositing and withdrawing, trading, and margin trading based on leverage. As an investor, you need to be careful when doing these kinds of transactions, as trading fees can easily turn profitable trades into losses. This is why the fee structure is considered one of the primary key indicators to ensure that your investment is safe. Knowing what cryptocurrency exchange has the lowest fees is vital.
Check the list below and find out which cryptocurrency exchange has the lowest fees.
Cryptocurrency Exchanges With The Lowest Fees
It is essential to know what maker fees and taker fees are in this context to understand better. These fees are known as payment for order flow and provide liquidity providers with rebates to participate in markets. Maker fees are charged in limit orders. This adds liquidity to the order book. On the other hand, taker fees are given when a market order is placed. In this scenario, the order is executed against an existing one from the order book. This removes the liquidity from it. Mostly, maker fees are lower than taker fees. Of course, everyone will agree that the best trading fee is zero. There are some exchanges that have zero fee provision but with enough trading volume. Keep on reading to know what cryptocurrency exchange has the lowest fees.
This cryptocurrency exchange was once among the most prominent exchanges by volume. Recently, it has been acquired by Circle. In Poloniex, if you are trading with less than $25,000 monthly trading volume, they charge 0.15% for the maker fee and 0.25% for the taker fee. However, Poloniex gives a discounted structure as low as 0% maker fees if you’ll trade greater than 20 million dollars monthly volumes.
If you want to know what cryptocurrency exchange has the lowest fees, Bitfinex, one of the oldest exchanges, is among them. This cryptocurrency exchange offers advanced features for experienced traders. Their fees are considerably low, most especially for those with high volumes. However, this option is somewhat risky as it had hacking episodes in the past. Their fees when trading with less than $500,000 monthly trading volume is 0.1% for the maker fee and 0.2% for the taker fee. If you trade more than 7.5 million dollars monthly trading volume, the maker fee will be 0%.
- Coinbase Pro
Coinbase Pro is probably the simplest, more user-friendly, yet one of the most expensive platforms out there. It was once GDAX but was acquired by Coinbase, thus the name Coinbase Pro. Their main targets are the more experienced traders. When trading with less than $100,000 monthly trading volume, their fees are 0.15% maker fee and a 0.25% taker fee. For more than 50 million dollars, their maker fee is 0% for a monthly trading volume.
Kraken claims that they are the most extensive exchange when it comes to euro volume and liquidity. Their system was a bit difficult initially, but their exchange has improved a lot, and their security and customer support. When trading with Kraken, their fees will be 0.16% for the maker fee and 0.26% for the taker fee if you have less than $50,000 monthly trading volume. If you have more than 10 million dollars monthly trading volume, the maker fee goes to 0%.
This cryptocurrency has been around since 2013. HitBTC is among the top 10 crypto exchanges in the world. What is more impressive with this exchange is that it can be traded with 870 pairs, and they are among the crypto trading with the lowest fees. Amazing, right? This is why this should be included in the list if people ask what cryptocurrency exchange has the lowest fees. They offer a 0.1% maker fee and 0.2% taker fee for Starter and General accounts. For upgraded accounts, those with more than 10 BTC (equivalent to approximately $100,000 these days) monthly trading volume, their maker fee is 0.06% and 0.07% for taker fee. For those with more than 20,000 BTC (more or less 20 million dollars today) monthly trading volume, the maker fee goes down to 0%.
Binance should be included in your list of what cryptocurrency exchange has the lowest fees. When it comes to trading volume, Binance is considered the largest exchange. It is also the most popular and is a user-friendly mobile app. Their fees are 0.1% flat for both taker and maker fees if you have less than 50 BTC (approximately $500,000) monthly trading volume. However, if you pay the fees using your own Binance Coin (BNB), they are currently offering a 25% discount, which means the actual fee would be 0.075%. The fees will progressively get lower, up to VIP 9 level ( greater than 1.5 million dollars) at 0.02%.
This cryptocurrency exchange offers useful tools to track P/L’s and other data from trading logs. It also offers a 0.01% maker fee at low volumes.
How To Pick The Right Crypto Exchange Platform
In choosing the right cryptocurrency exchange, it is important to know what cryptocurrency exchange has the lowest fees. Other things, such as security, coin support, and transaction speed, should also be considered.
Trading cryptocurrencies on the cheapest exchange platform is a great deal. But it is vital to keep in mind that there is more important than that in cryptocurrency – security. There is a possibility that even if you get 0% from your crypto trade, you will still lose your crypto assets during or after a transaction if the platform you chose is not highly secured. Learn more about cryptocurrency exchanges here!
Knowing what cryptocurrency exchange has the lowest fees is essential for crypto trading, second to security, of course. There are many exchange platforms with low fees that are also safe and secure. Out of the hundreds of exchange platforms nowadays, I hope you can find the one you’re looking for in these 7 platforms I presented. Happy trading!