Cryptocurrency trading has exploded in popularity over the last few years. With so many exchanges to choose from, traders are often looking for the best options with the lowest fees. This allows them to maximize their profits when buying and selling digital currencies like Bitcoin, Ethereum, and others. Here is an overview of some of the cryptocurrency exchanges with lowest fees for traders to consider.
How Exchange Fees Work
Cryptocurrency exchanges with lowest fees make money by charging fees on trades. The fees are typically a percentage of the total trade value. Exchanges can charge fees when you:
- Deposit fiat currency or crypto
- Trade cryptos
- Withdraw fiat or crypto
The trading or taker fee is usually the highest, while deposit and withdrawal fees are minimal or even free. Cryptocurrency exchanges with lowest fees can save crypto traders money over time.
Factors to Consider
When looking for a low-fee crypto exchange, here are some factors to consider:
- Trading fees – This is the biggest factor, exchanges with lowest trading fees save you the most money.
- Deposit/withdrawal fees – Exchanges sometimes charge to deposit or withdraw fiat and crypto funds. Lower is better.
- Account verification – Exchanges may offer discounted fees if users provide personal details for account verification.
- Trading volume discounts – VIP programs can offer lower fees for high-volume traders.
- Supported currencies – An exchange should support major cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.
Top Cryptocurrency Exchanges with Lowest Fees
Based on the factors above, here are some of the top exchanges that offer very low trading fees for active cryptocurrency traders:
Binance is one of the largest global cryptocurrency exchanges based on daily trading volume. It offers some of the lowest fees among major exchanges.
- 0.1% standard trading fee. Discounts available with BNB payments.
- 0.075% for VIP Level 1 traders with BNB discount.
Deposits: Free for cryptocurrency deposits.
Withdrawals: Fees vary by crypto, discounts for BNB use.
Binance also offers staking rewards, savings accounts, OTC services, Futures trading, NFT marketplace, and more features. Great option for active crypto traders looking for low fees.
FTX is another popular exchange with global reach and multi-billion dollar daily trading volume. Their trading fees are among the lowest.
- 0.07% fee for makers and takers.
- 0.02% discounted fee possible for high-volume traders.
Deposits/Withdrawals: Free deposits, withdrawals network fees only.
FTX offers derivatives trading, staking, lending, NFTs, and other services alongside very low trading fees, ideal for active crypto investors.
Kraken is a top cryptocurrency exchange operating since 2011 with over 100 crypto trading pairs.
- 0.16% – 0.26% variable fee based on 30-day trade volume. Higher volume means lower fee.
- Can go as low as 0.00% – 0.10% for highest VIP traders.
Deposits/Withdrawals: Free crypto deposits, withdrawals have a network fee. Fiat options have fees.
Kraken offers robust trading options, account security, support, and some of the lowest possible fees for high volume traders.
KuCoin is a popular exchange with traders due to low fees and a wide selection of altcoins.
- 0.10% fee for makers and takers.
- 0.07% for Level 2 KYC verified accounts.
Deposits: Free for crypto deposits.
Withdrawals: Network fees only for crypto withdrawals.
Easy to use exchange with low fees, best for trading lesser-known altcoins not on major exchanges yet.
Other Notable Low-Fee Exchanges
Here are a few other exchanges that can offer low trading fees in certain situations:
- Gemini – 0.35% default fee, 10% fee rebate offer for activetraders.
- Poloniex – 0.09% – 0.19% maker/taker fee, discounts on volume.
- Bitfinex – 0.10% – 0.20% fee based on 30-day volume.
- Huobi Global – 0.20% fee, discounts for HUOBI token payments.
How to Save on Fees When Trading Crypto
Here are some tips to reduce your cryptocurrency trading fees:
- Compare exchange fee structures before signing up. Prioritize low trading fees.
- Consider trading volume when selecting an exchange. Higher volume can lead to lower fees.
- Verify accounts if exchanges offer discounted fees for KYC users.
- Use exchange tokens like BNB for fee discounts if available.
- Take advantage of referral programs to get fee reductions.
- Stick to major coins like Bitcoin and Ethereum if you want to avoid niche altcoin fees.
- Use exchanges with multiple currency pairings to get best rates on trades.
- Don’t leave funds on exchanges, withdraw to your wallet to avoid idle account fees.
Finding a cryptocurrency exchanges with lowest fees is crucial for maximizing profits on trades and saving money over time. Traders should compare the major exchanges to see which offers the optimal fee schedule based on factors like trade volume, verification levels, discounts, supported currencies, and ease of use. Cryptocurrency exchanges with lowest fees like Binance, FTX, Kraken, and KuCoin represent some of the best options due to very low taker fees, no deposit/withdrawal fees, and discounts for high-volume traders. Following trading best practices can also help minimize fees.