If you’re looking to buy or sell any cryptocurrency, exchanges are invaluable platforms that provide key crypto stats, trading pairs, storage options, and so much more. While you can buy or sell crypto via a software wallet, having an account with a reputable exchange can open a lot of doors in terms of building your portfolio. But using an exchange can be costly, so finding the most affordable yet reputable options is crucial. So, which crypto exchanges offer the lowest fees for buying and selling?
1 Poloniex
Founded in 2014 by Tristan D’Agosta, Poloniex is an American exchange that has risen through the ranks to become among the twenty most popular crypto exchanges worldwide with a daily trading volume of over $160 million. Based in San Francisco, California, Poloniex isn’t actually available to those residing in the U.S but can be used in a variety of other locations, including the U.K, France, Japan, and Canada.
There are a lot of great things about Poloniex. Its variety of supported coins, staking options, and reward center all accompany one of the platform’s best attributes: its low fees. Currently, Poloniex only charges a 0.125% maker or taker fee and doesn’t charge for deposits. This means that you can buy and sell crypto on the platform without either losing a big chunk of your profits or paying considerable charges for purchases.
2 Kraken
Ranked fourth in trading volume worldwide, Kraken began as an American Bitcoin and Litecoin exchange (as well as a platform for euro trades). Today, it supports a huge list of different cryptocurrencies, from Ethereum to Aave. There are plenty of trading pairs, staking coins, and funding options available on Kraken, and its buying and selling fees make it a top choice exchange.
At the moment, Kraken only charges a 0.16% maker fee and a 0.26% taker fee. Taker fees are often higher than maker fees, given that a taker will remove liquidity from an exchange, which is the opposite of what the exchange wants to turn a profit. However, this taker fee is still reasonable compared to other exchange platforms.
3 Binance
Sitting comfortably as the most popular exchange in the world, Binance is the favorite of thousands of crypto buyers and sellers, and for a good reason. Not only is Binance available in over 180 countries worldwide, but its fees are more than friendly.
With a maker and taker fee of just 0.1%, Binance makes buying and selling crypto affordable for anyone who wishes to. On top of this, Binance doesn’t charge a staking fee and doesn’t charge for deposits or withdrawals! Overall, it’s a solid option for all things crypto and won’t leave you dealing with frustrating charges on your profits or rewards.
4 Pionex
Pionex is a relatively young crypto exchange, having been founded in 2019. However, its infancy in the market has by no means hindered its growth as an international exchange. One of Pionex’s most unique features is its range of useful trading bots, which allow users to trade assets, invest in tokens automatically, and more. But Pionex’s bots are not the only attractive feature it boasts.
Another great thing about Pionex is its incredibly low maker and taker fees. Currently, both fees come in at just 0.05%, considerably lower than many other popular crypto exchanges out there. On top of this, Pionex doesn’t charge for deposits, though there is a flat fee for withdrawals which differs depending on the coin.
5 eToro
Founded in 2007, eToro is an Israeli brokerage company providing, among other things, a diverse and trusty crypto exchange for residents of 44 U.S states (New York, Delaware, Hawaii, Minnesota, Nevada, and Tennessee residents cannot currently use the service). eToro allows users to buy and sell a range of cryptocurrencies, including Bitcoin, Ethereum, and Stellar. It also has some great staking options for those who want to earn some passive income using their crypto.
So, what’s eToro looking like in terms of fees? In terms of maker and taker fees, eToro charges none. However, this doesn’t mean that trading on eToro is entirely free. The platform charges a spread fee of 0.75%, which is essentially another way in which exchanges can charge for transactions. Additionally, eToro doesn’t charge any deposit or withdrawal fees, which makes moving your money to or from the platform a lot more pleasurable.
6 Bybit
Founded in March of 2018 by Ben Zhou, Bybit is a Singaporean crypto exchange that has become one of the fastest-growing global markets. In the space of just four years, Bybit has become a hugely popular platform, trading huge volumes of crypto daily. So, what makes Bybit a great choice in terms of fees?
Well, Bybit’s overall fees are nothing short of fantastic. With no maker fee and a taker fee of just 0.075%, Bybit ensures you avoid all kinds of nasty charges regardless of whether you’re buying or selling crypto. What’s more, withdrawals and deposits are both free to conduct on Bybit. So, if you’re looking for a crypto exchange with super-low fees across the board, Bybit is the one for you.
7 CEX.io
CEX.io is another widely-used cryptocurrency exchange platform with a range of amazing features, including margin trading, staking, and its own official debit card. This exchange can be accessed by users in most countries worldwide and currently has over four million users. But do the exchange’s fees match up to its accessibility and other useful features?
Fortunately, yes! CEX.io charges a 0.16% maker and 0.25% taker fee. Additionally, the platform charges a fee of 2.99% for deposits from VISA or Mastercard accounts and charges a variable fee for withdrawals depending on where you’re funds are going.
8 KuCoin
KuCoin currently ranks as the world’s fifth most popular crypto exchange, with a daily trading volume of over $4.2 billion and a list of over 500 supported coins. In addition, KuCoin offers various features that you can use to build your crypto portfolio, such as staking, margin trading, lending, and more. And, on top of all this, KuCoin’s fees are pretty low, too.
Currently, KuCoin’s maker and taker fees are the same, sitting at a nice 0.1% respectively. Alongside this, KuCoin doesn’t charge for deposits of any kind but does charge for withdrawals. The fee you’ll incur for withdrawing funds varies depending on what kind of crypto you’re moving. For example, withdrawing Bitcoin will cost you 0.0005 BTC, while withdrawing Polkadot will cost you 0.1 DOT. It’s best to check KuCoin’s fees beforehand so you know what kind of charges you’ll incur.
9 FTX
FTX, formerly known as Blockfolio, is one of the world’s biggest crypto exchanges, coming in just behind Coinbase in the global rankings. FTX is an awesome exchange for numerous reasons, including its 300 supported coins, NFT marketplace, and advanced trading feature. And, along with these great features come some wonderfully low fees.
FTX charges a maker fee of just 0.02%, which is considerably lower than many other exchanges offer. On top of this, its taker fees are also super low, currently sitting at just 0.07%. The platform also doesn’t charge for withdrawals or deposits, so, overall, using FTX ensures that your fees stay low regardless of your individual trading volume.
10 BlockFi
Though BlockFi isn’t as big as some of the other platforms listed here, that doesn’t make it an unreliable option for trading crypto. BlockFi offers a range of great products to users, including interest accounts, lending options, and its own credit card. And, when it comes to fees, BlockFi outshines many other platforms.
This is because BlockFi doesn’t charge any kind of maker, taker, or spread fee. You can also deposit however much you want into your BlockFi wallet without having to pay a fee. What’s more, you can make one free withdrawal per month on the platform, with varying fees being incurred for any additional withdrawals, which depend on the kind of crypto you’re moving. It really is a great choice across the board for low-cost trading.
What Is the Cheapest Crypto Exchange?
When buying, selling, transferring, or performing any other kind of action on crypto exchanges, unexpected fees can sometimes make the entire process grueling and frustrating. So, if you want to keep your fees to a minimum when using a crypto exchange, try one of the platforms above to keep those nasty charges at bay.