KEYTAKEAWAYS
- Cryptocurrency exchanges offer varying fee structures, with trading, deposit, withdrawal, and additional fees impacting overall costs.
- Top exchanges like Bitget, Binance, and Bybit provide competitive fees, often with discounts for using native tokens or increasing trading volume.
- When choosing an exchange, consider factors beyond fees, such as liquidity, security, user experience, and available cryptocurrencies.
CONTENT
Discover the top crypto exchange with lowest fees in 2024. Compare trading costs, learn fee reduction strategies, and find the best platform for your trading goals.
CRYPTO EXCHANGE WITH LOWEST FEES COMPARED
| Exchange | Maker Fee | Taker Fee | Deposit Fee | Withdrawal Fee | Token Discount |
|---|---|---|---|---|---|
| Bitget | 0.02%~0.1% | 0.03%~0.1% | 0 | Variable | 20% off |
| Coinbase | 0.00%~0.40% | 0.05%~0.60% | Variable | Variable | None |
| Binance | 0.0110%~0.1000% | 0.0230%~0.1000% | Variable | Variable | 25% off |
| Bybit | 0.0050%~0.1000% | 0.0150%~0.1000% | Variable | Variable | None |
| Kraken | 0.00%~0.25% | 0.10%~0.40% | Variable | Variable | None |
| OKX | -0.005%~0.080% | 0.015%~0.100% | Variable | Variable | Up to 40% |
| MEXC | 0 | 0.020% | 0 | Variable | Up to 50% |
| Gate.io | 0.030%~0.200% | 0.036%~0.200% | 0 | Variable | Up to 25% |
| KuCoin | -0.005%~0.100% | 0.020%~0.100% | 0 | Variable | 20% off |
| Bitfinex | 0.0200%~0.100% | 0.0650%~0.200% | Variable | Variable | Up to 25% |
TYPES OF FEES TO PAY ON A CRYPTO EXCHANGE
When venturing into crypto trading, it’s crucial to understand the various fees you might encounter. These fees can significantly impact your trading profits, especially if you’re an active trader. Let’s break down the main types of charges based every crypto exchange with lowest fees we listed:
1. Trading Fees
Trading fees are the most common charges you’ll encounter. They’re applied when you buy, sell, or trade cryptocurrencies. These fees typically fall into two categories:
Maker Fees: Charged when you add liquidity to the market by placing orders that aren’t immediately matched.
Taker Fees: Applied when you remove liquidity by placing orders that are immediately filled.
2. Deposit Fees
Deposit fees vary depending on whether you’re depositing cryptocurrency or fiat currency:
Cryptocurrency Deposits: Generally free on most exchanges.
Fiat Currency Deposits: Fees can vary based on the payment method:
- Bank transfers are often free or low-cost, especially for domestic transfers.
- Credit/debit card deposits typically incur higher fees, often ranging from 2% to 5%.
- E-wallet deposits usually have fees similar to credit card deposits.
3. Withdrawal Fees
Withdrawal fees also differ for cryptocurrency and fiat currency:
Cryptocurrency Withdrawals: Usually a flat fee to cover the blockchain transaction cost. For Bitcoin, this is typically between 0.0004 to 0.0005 BTC.
Fiat Currency Withdrawals: Fees depend on the withdrawal method and your location. Bank transfers are generally cheaper than card or e-wallet withdrawals.
4. Additional Fees
Some exchanges may charge other fees that are less common but still worth noting:
Inactivity Fees: Applied to dormant accounts on some platforms.
Transfer Fees: May be charged when moving funds between wallets within the same exchange.
9 WAYS TO REDUCE CRYPTO TRADING FEES
As a crypto trader, minimizing your trading fees can significantly boost your overall profits. Here are 9 effective strategies to help you reduce these costs:
| Strategy | What You Can Do |
|---|---|
| Choose Low-Fee Exchanges | Compare any crypto exchange with lowest fees. Choose platforms offering competitive rates for substantial long-term savings. |
| Be a Market Maker | Place limit orders instead of market orders to benefit from lower maker fees and add liquidity to the market. |
| Use Exchange Tokens | Use native tokens of platforms to pay trading fees at a discount, potentially leading to significant savings. |
| Increase Trading Volume | Concentrate activity on one platform to reach beneficial tiers in tiered fee structures, rewarding high-volume traders. |
| Look for Promotions | Stay informed about promotional campaigns offering reduced fees or other incentives to maximize savings. |
| Try P2P Trading | Explore P2P platforms with lower fee structures, despite potentially requiring more effort. |
| Use Referral Programs | Invite friends or fellow traders to join platforms offering referral programs for fee credits or discounts. |
| Complete New User Tasks | Take advantage of fee discounts or credits offered to new users for completing specific tasks or milestones. |
| Join VIP Programs | For serious traders, consider VIP programs offering significant fee reductions based on trading volume or asset holdings. |
10 CRYPTO EXCHANGE WITH LOWEST FEES | TOP PICKS
Crypto Exchange With Lowest Fees: Bitget
Bitget is a centralized crypto exchange that offers a competitive fee structure, making it an attractive option for cost-conscious traders. Here’s a breakdown of Bitget’s fees:
- Trading Fees: Maker fees range from 0.02% to 0.1%, while taker fees are between 0.03% and 0.1%. These rates are tiered, potentially decreasing as trading volume increases.
- Deposit Fees: Bitget doesn’t charge for cryptocurrency deposits, which is beneficial for users frequently moving assets onto the platform.
- Withdrawal Fees: These are variable and adjust based on market conditions. It’s advisable to check current rates before initiating a withdrawal.
- Token Discount: Users can receive a 20% discount on trading fees when using Bitget’s native BGB token for payment.
Crypto Exchange With Lowest Fees: Coinbase
Coinbase, one of the most recognized names, offers a user-friendly platform with robust features. While its fees can be higher than some other exchanges, many users find the costs worth it for the platform’s reliability and ease of use. Here’s an overview:
- Trading Fees: Maker fees range from 0.00% to 0.40%, while taker fees span from 0.05% to 0.60%. These rates are notably higher compared to some other exchanges in the market.
- Deposit and Withdrawal Fees: Both are categorized as “Variable” in our comparison chart. This indicates that costs can fluctuate based on factors such as payment method and currency.
- Token Discount: Unlike several competitors, Coinbase does not have a native token. The listed fees apply uniformly.
Crypto Exchange With Lowest Fees: Binance
Binance is a popular crypto exchange with lowest fees, known for its vast selection of cryptocurrencies, and high liquidity. It offers a user-friendly platform that caters to both new and experienced traders.
- Trading Fees: Maker fees range from 0.0110% to 0.1000%, while taker fees are between 0.0230% and 0.1000%. These rates can decrease based on trading volume and BNB holdings.
- Deposit Fees: Binance charges variable fees for deposits, which can depend on the cryptocurrency and network used.
- Withdrawal Fees: These are also variable and can change based on the cryptocurrency and network congestion.
- Token Discount: Users can receive a 25% discount on trading fees when using Binance’s native BNB token for payment.
Crypto Exchange With Lowest Fees: Bybit
Bybit offers both spot and futures trading with an attractive tiered fee system. The platform also provides additional features like a P2P service for fee-free deposits and withdrawals, which can potentially offset costs. Here’s a breakdown of Bybit’s fees:
- Trading Fees: Maker fees range from 0.0050% to 0.1000%, while taker fees are between 0.0150% to 0.1000%. These rates can decrease significantly based on trading volume and user level.
- Deposit Fees: Bybit doesn’t charge for cryptocurrency deposits, making it easy for users to fund their accounts.
- Withdrawal Fees: These are variable and depend on the specific cryptocurrency being withdrawn.
- Token Discount: Unlike some exchanges, Bybit does not have a native token.
Crypto Exchange With Lowest Fees: Kraken
Kraken is known for its competitive fee structure and strong security measures. Additionally, it provides features like staking options and margin trading, often at competitive rates, making it a top crypto exchange with lowest fees.
- Trading Fees: Maker fees range from 0.00% to 0.25%, while taker fees are between 0.10% and 0.40%. These rates are tiered and can decrease based on your 30-day trading volume.
- Deposit Fees: Kraken charges variable fees for deposits, which can depend on the method used and the currency being deposited.
- Withdrawal Fees: These are also variable and can change based on the cryptocurrency and network used.
- Token Discount: Kraken does not have a native token currently.
Crypto Exchange With Lowest Fees: OKX
OKX is a prominent crypto exchange, ranking high in trading volume and liquidity. It stands out for its advanced trading features, including futures and margin trading, and a wide range of cryptocurrencies. Here’s a breakdown of OKX’s fees:
- Trading Fees: Maker fees range from -0.005% to 0.080%, while taker fees are between 0.015% to 0.100%. The negative maker fee indicates a rebate for high-volume makers.
- Deposit Fees: OKX charges variable fees for deposits, which can depend on the cryptocurrency and network used.
- Withdrawal Fees: These are also variable and can change based on the cryptocurrency and network congestion.
- Token Discount: Users can receive up to 40% discount on trading fees when using OKX’s native OKB token for payment.
Crypto Exchange With Lowest Fees: MEXC
MEXC’s combination of ultra-low fees and diverse trading options makes it a compelling choice for cost-conscious and high-frequency traders. It also offers additional features like a demo trading option for practice, and a high-performance trading engine capable of handling large transaction volumes.
- Trading Fees: Maker fees are 0%, which is extremely competitive. Taker fees are a low 0.020% for spot trading.
- Deposit Fees: MEXC doesn’t charge for cryptocurrency deposits, making it easy and cost-effective to fund your account.
- Withdrawal Fees: These are variable and depend on the specific cryptocurrency being withdrawn.
- Token Discount: Users can receive up to 50% discount on trading fees, likely when using MEXC’s native MX token for payment.
Crypto Exchange With Lowest Fees: Gate.io
Gate.io is a well-established crypto exchange that is known for its extensive selection of altcoins and advanced trading features. The platform provides a Proof of Reserves system for transparency and has its own insurance fund for added security. Here’s a breakdown of Gate.io’s fees:
- Trading Fees: Maker fees range from 0.030% to 0.200%, while taker fees are between 0.036% to 0.200%. These rates can decrease based on trading volume and VIP level.
- Deposit Fees: Gate.io doesn’t charge for cryptocurrency deposits, making it cost-effective to fund your account.
- Withdrawal Fees: These are variable and depend on the specific cryptocurrency being withdrawn. It’s best to check current rates before initiating a withdrawal.
- Token Discount: Users can receive up to 25% discount on trading fees when using Gate.io’s native GT token for payment.
Crypto Exchange With Lowest Fees: KuCoin
KuCoin is a reputable crypto exchange with lowest fees known for its advanced trading options, as well as a P2P marketplace, catering to a variety of trading preferences and strategies.
- Trading Fees: Maker fees range from -0.005% to 0.100%, while taker fees are between 0.020% to 0.100%. The negative maker fee indicates a rebate for high-volume makers, which is an attractive feature for active traders.
- Deposit Fees: KuCoin doesn’t charge for cryptocurrency deposits, making it easy to fund your account.
- Withdrawal Fees: These are variable and depend on the specific cryptocurrency being withdrawn.
- Token Discount: Users can receive a 20% discount on trading fees when using KuCoin’s native KCS token for payment.
Crypto Exchange With Lowest Fees: Bitfinex
Bitfinex is a long-standing cryptocurrency exchange, known for its resilience and recovery from past challenges, it now offers a robust trading platform with enhanced security measures. Here’s a breakdown of Bitfinex’s fees:
- Trading Fees: Maker fees range from 0.0200% to 0.100%, while taker fees are between 0.0650% to 0.200%. These rates can decrease based on trading volume and user level.
- Deposit Fees: Bitfinex charges variable fees for deposits, which can depend on the method used and the currency being deposited.
- Withdrawal Fees: These are also variable and can change based on the cryptocurrency and network used. It’s best to check current rates before initiating a withdrawal.
- Token Discount: Users can receive a 25% discount on trading fees when using Bitfinex’s native LEO token for payment.
SOME THINGS TO LOOK OUT FOR
When looking up a crypto exchange with lowest fees, it’s tempting to focus solely on how low they are. However, exchanges need to make money to keep the lights on and pay their staff. If an exchange offers incredibly low or zero fees for an extended period, it’s worth questioning how they’re staying afloat.
Market liquidity is another crucial factor. A platform with higher fees but better liquidity might actually save you money in the long run. In a less active market, you might end up buying at higher prices or selling at lower ones, even if the fees are rock-bottom.
Don’t forget to look at the bigger picture. User experience, coin variety, security measures, and customer support are all important pieces of the puzzle.
For beginners, user-friendly platforms like Binance or Coinbase might be worth slightly higher fees. More experienced traders might prefer exchanges with advanced features and lower fees for high-volume trading.
Lastly, keep an eye out for ways to reduce your fees, like using exchange tokens or increasing your trading volume. And always stay informed about the latest promotions or referral programs. Remember, the best exchange for you is one that balances cost, security, and features to match your trading style and goals.
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FAQS
- What factors affect cryptocurrency exchange fees?
Fees vary based on transaction size, trading volume, market conditions, and whether you’re a maker or taker.
- How can I reduce my trading fees?
Increase trading volume, use exchange tokens, participate in loyalty programs, and choose limit orders over market orders.
- Are there hidden fees in crypto trading?
Watch for withdrawal fees, network fees, and potential inactivity fees. Some exchanges charge higher fees for small accounts.
- When are trading fees collected?
Fees are automatically deducted at the time of trade, typically in the currency you’re trading.
- Can using an exchange’s native token save money?
Yes, many exchanges offer significant discounts on trading fees when you use their native tokens for payments.
