Crypto Exchange With the Lowest Fees [2023 Ranking]
Cryptocurrency trading is done in two ways either through buying digital currencies and exchanging them into whichever one you want or storing them for profits. The former is largely speculative and most traders will rely on proven platforms, tools, and strategies to generate profit. Most crypto exchange sites use blockchain technology which can allow decentralized ordering and decentralized storage and is also more secure thanks to the encryption technique of the information. But here’s the thing with a couple of them, most crypto exchanges annoyingly charge high fees. At first glance, you’d conclude that these fees come as a result of the kind of technology in play here—even though that’s also a factor. But then there are also a handful of other platforms out there that charge, like Nigerians would put it, “with their church mind.”
So what do you think? Do some of these crypto exchanges intentionally spike their fees just to make more profit? Yea sounds like the most logical reason. No doubt exchanges literally have to deal with a lot ranging from security to insurance and so on, which cost money, some platforms like Binance still keep it on the low. As a result, this post will cover some of the top crypto exchange platforms with the lowest fees.
What are Crypto Exchanges?
In simple terms, crypto exchanges are platforms that help to facilitate trades between digital assets or between digital and fiat currencies. They provide the technical requirements to make this trade happen but without a fee. For more information about crypto exchanges, you can go through our post on that. Let’s stick to the goal here which is to list the best crypto exchange platforms with the lowest fees.
Disclaimer: This article should NOT serve as an investment guide, it’s solely for informational purposes. We thereby emphasize that we do NOT endorse any of the options. They are subject to your choice of decision and verification. We are not sponsored by any of the investment firms and the information provided here is to the best of our knowledge.
List of the Best Crypto Exchange Platforms With the Lowest Fees – Rankings
The following are some of the best crypto exchange platforms in 2021 with the lowest fees
#1. CoinSmart
CoinSmart is a crypto exchange based in Canada. It offers assistance 24 hours a day, seven days a week. It has a sophisticated identity verification system in place that can detect fake addresses or dates of birth. To achieve this, it makes use of a database that the data collection agencies have provided. For each cryptocurrency, users receive cold storage.
Furthermore, CoinSmart accepts a variety of payment options, including Interac, SEPA, Wire Transfers, and all cryptocurrencies.
The deposits are credited to your account the same day they are received. However, it takes 5 business days to process cash withdrawal requests.
Meanwhile, the account verifications are completed on the same day.
Features:
- A two-factor authentication system.
- For more experienced investors, it has a tool called Advanced Trade, which incorporates limiting orders, stop losses, and real-time graphing.
- An order book feature that allows you to place customized orders.
- A SmartTrade feature that allows you to trade from one coin to another without having to first exchange to Bitcoin or Ethereum.
- Includes tools that allow you to keep track of all your trades and trading activity.
Trading Fees:
For Bank Wire and Bank Draft, there is no fee. On credit or debit cards, there may be a fee of up to 6%—not fixed. Electronic financial transfers, for example, are subject to a 1% cost.
#2. PrimeXBT
The PrimeXBT trading platform is the best in class, with direct access to the global markets and round-the-clock service. The platform runs a referral system that allows you to make money by referring friends to their network. It reimburses up to 50% of their trading commissions.
However, convesting is a smarter option. This technique affords you the luxury of picking the best performing traders and automatically mimicking their trading behavior. You can also earn extra money by allowing others to follow your trades.
Furthermore, PrimeXBT is a platform for trading Bitcoin, USD Tether, USDC, and other cryptocurrencies on worldwide financial markets. With an account, you’ll be able to trade 50+ markets, including cryptocurrencies, stock indexes, commodities, and more.
Trading Fee:
There is no charge to open an account. So, you can review the trading conditions and open a Margin, Convesting, or Turbo account. Trading fees for Cryptocurrencies are 0.05 percent, 0.01 percent for Indices & Commodities, and 0.001 percent for Forex majors, among other things.
#3. FixedFloat
FixedFloat is a user-friendly trading platform that provides tools for maximizing the value of digital assets. It gives a flexible, customizable solution based on your needs. A dedicated customer support team is also included in their services.
Features:
FixedFloat accepts a variety of currencies, including Bitcoin, Tether, USD Coin, and others.
Processing is completely automated.
It is cross-platform compatible.
It uses a lightning network to allow the exchange of digital assets.
Trading Fees:
You pay 1% plus the network fee for the fixed rate. For the float rate, you pay 0.5 percent plus the network cost. There aren’t any hidden fees according to the platform which makes it one of the top lowest crypto exchange platforms.
#4. ChangeNOW
ChangeNOW is a non-custodial cryptocurrency exchange platform. It provides a service for converting Bitcoin to Ethereum, Ripple, XMR, and other cryptocurrencies. There is no need to register an account with this service. It doesn’t keep any money.
The exchange has more than 170 coins available. It has no restrictions on the amount of money you can swap and allows you to trade as much as you desire. Furthermore, its fiat option allows users to purchase cryptocurrencies using Visa or MasterCard through a third-party partner.
Features:
- There are almost 10,000 currency pairs supported.
- It offers a RealRates system that is both quick and secure.
- ChangeNOW is a completely secure platform that offers non-custodial services and does not keep any funds.
- It allows for instant cryptocurrency trading.
ChangeNOW’s transaction cost ranges from 0.5 percent to 4 percent with a 5-star rating according to evaluations.
#5. Binance
Binance is, according to reviews, the best cryptocurrency exchange on the market. In terms of trading volume, Binance is among the top five largest cryptocurrency exchange apps. It accepts 150 different cryptocurrencies and coins, including Bitcoin, Ethereum, Litecoin, and its own BNB coin. It is now available in the United States, Europe, Australia, and Africa.
This year, the cryptocurrency exchange announced that over 100 million people have used it.
Features:
- It offers two-factor authentication in addition to supporting over 100 coins for trade.
- It also allows crypto traders to trade cryptocurrencies using chart and indicators.
- The patform is not decentralized
- Although there are some restrictions in the United States, Binance is available in over 180 countries around the world.
- Users can buy and sell cryptocurrency using a variety of payment methods, including bank, cryptocurrency, and credit cards.
Trading Fees:
The fees vary depending on what category you are in. For 30-day trading volumes of less than 50 BTC and more than or equal to 1500 BTC, the maker fee ranges from 0.0750 percent to 0.0525 percent. For 30-day trading volumes of less than 50 BTC and more than or equal to 1500 BTC, the taker fee ranges from 0.075 percent to 0.0525 percent.
#6. Cash App
Cash App by Square is a popular iOS and Android app for sending and receiving peer-to-peer money in the United States, however, it is now available in a variety of other countries as well.
Money sent or received through bank accounts and debit cards is free, while credit card payments and bank quick deposits are charged a 3 percent fee and 1.5 percent fee, respectively.
But beyond that, it now functions as a crypto exchange, allowing users to trade cryptos within the app. But then it currently only supports Bitcoin, with the promise of adding support for more cryptocurrencies in the future.
Features:
- It’s peer-to-peer, which means you can send money directly from your wallet to other users without going through a middleman.
- BTC customers have a high transactional limit of $100,000.
- Sending and receiving money through banks is cost-effective.
- It’s easy to use.
- Credit card users will pay a high price.
Trading Fees:
Sending and receiving money via banks is free. Credit card payments incur a 3% fee, while bank instant deposits incur a 1.5 percent fee.
#7. Bisq
Bisq is a desktop and mobile application (iOS and Android) that allows users to buy and sell Bitcoins in their home countries in exchange for their local currencies. And because you may transmit and receive crypto from people directly, it functions on a peer-to-peer basis.
The trading costs are paid in BTC by the users. The makers, or those who place trades or orders for 1 BTC on the platform, pay 0.10 percent, while the buyers, or those who take the orders (takers), pay 0.70 percent.
Meanwhile, traders can also pay in BSQ cryptocurrency, where they pay 0.05 percent as makers on orders for 1BTC, and 0.35 percent as takers on orders worth 1BTC.
#8. Kraken
Kraken, a US-based company, has been in operation since 2011 and is available in 48 states and 176 countries. This cryptocurrency exchange supports and lists 40 different cryptocurrencies, including some of the most prominent, such as Bitcoin (BTC), Ethereum (ETH), and so on.
Kraken is, in fact, one of the top ten largest cryptocurrency exchanges in terms of daily market transaction volumes. It is considered extremely safe to trade on since, unlike its competitors, Binance and Coinbase, has never been hacked.
Features:
- It is regarded as a very safe platform to trade on.
- Fees are cheap — much lower than Coinbase.
- Users can pay for trades using a variety of methods, including MasterCard, Wire Transfer, and Bank cards.
- Trading is available in 40 different cryptocurrencies.
- There is a smartphone app available.
- Also available are analytical tools which are beneficial to cryptocurrency traders.
- The maximum trading volume per day is $100,0000.
Trading Fees:
The manufacturer charge varies from 0.16 percent to 0.10 percent for 30-day transactional volumes of between $0 and $500,000. The taker charge varies from 0.26 percent to 0.20 percent for 30-day transactional volumes of between the same amount.
#9. Bittrex
Bittrex allows crypto-to-crypto trading and has the biggest number of cryptocurrencies (over 190) on which users can trade. Although the exchange is believed to be very secure and quick in performing trades, customer assistance is thought to be insufficient.
Bittrex, situated in Seattle, Washington, was founded in 2014 by a team with over 50 years of experience working with Microsoft, Amazon, Blackberry, Qualys, and other organizations. The cryptocurrency exchange has a high 24-hour trading volume of $225,425,248, making it one of the top 15 exchanges in the world.
Aside from the high level of security and speed with which trades are executed, you also benefit from minimal fees – a flat rate of 0.25 percent on each transaction, which is the most straightforward fee description we’ve seen for cryptocurrency exchanges. But beyond that, it also makes it one of the top crypto exchange platforms with the lowest fees.
#10. Coinbase
In the United States, Coinbase is the most popular crypto exchange. It was created in 2012 and is completely regulated and permitted to operate in over 40 states and territories within the United States.
It is thought to be the one that lowers the entry barriers to crypto in the US and other countries. It’s simple to use and provides insured storage. It accepts a wide range of cryptocurrencies. The Pro version enables users to trade cryptocurrency for less using charting and indicators.
Features:
- It accepts Bitcoin as well as a variety of other currencies.
- It is not decentralized, unlike other options.
Trading Fees:
Depending on the monetary amount, the fee ranges from $0.99 to $2.99.
#11. Swapzone
Swapzone is a cryptocurrency exchange that allows you to trade over 300 coins without having to register. This is excellent news for crypto traders who want to maintain their anonymity.
This crypto exchange allows for instant cryptocurrency and crypto coin swapping. Basically, it functions as a cryptocurrency exchange aggregator, allowing users to compare cryptocurrency swapping options across different exchanges.
Furthermore, because of the API used, once a trader discovers an opportunity, he or she will be able to swap coins in one platform without leaving it. Traders can sort deals by best rates to make comparisons easier. It was established in the year 2020.
Trading Fees
Before trading, as a crypto aggregator, you find the rates on it – which may differ from one crypto exchange to the next.
#12. CEX.io
CEX.io was founded in 2013 in London and allows users to purchase and trade digital cryptocurrencies, with money being withdrawn via bank accounts, VISA, and other debit and credit cards. Crypto buyers have a few alternative payment options, including Swift and other crypto coins. A commission may be paid to those who trade significant volumes of cryptocurrency.
On its crypto trading platform, the exchange claims to have over 3 million registered users.
Furthermore, it has never been hacked, implying that it is a safe and secure crypto trading platform. You can also protect your account with 2FA, and anti-hacker protection.
Features:
- The exchange is supported by 99 percent of the world’s countries and 47 states in the United States.
- For individuals who trade big volumes of cryptocurrency on the exchange, there is a competitive commission. There are also opportunities for market makers.
- For dependable order books and order execution, the exchange employs advanced order matching algorithms. This means it’ll be easier to find your orders, and traders with high-frequency trading and scalping tactics will be able to trade more effectively.
Trading Fees
The trading fee is calculated based on the customer’s trading volume during the previous 30 days. A taker fee of 0.25 percent to 0.20 percent is charged to those with a trading volume of less than or equal to 5 BTC and less than or equal to 100 BTC. The maker charge for the same ranges from 0.16 percent to 0.12%.
#13. eToro
eToro is a social trading platform for stocks, securities, forex, CFDs, and crypto trading. On eToro, you can trade different assets from these categories using CFDs. The trading platform was established in 2007 and is regulated, making it a safe option for individuals looking for simple-to-use trading platforms with a diverse range of assets to trade.
A user can duplicate a transaction from an expert trader they follow through social copy trading. As a result, you can trade with less asset knowledge or experience. It is a popular choice for individuals who also want to trade forex, and it allows them to trade 47 different pairings.
Despite the zero dollar costs for US traders, the recent reduction of spreads on the exchange, and its popularity for CFDs, the exchange charges a slightly larger fee than most other exchanges. In addition, as compared to other trading platforms of its kind, the eToro platform has a restricted amount of research materials.
Features:
- There are a total of 2361 tradable symbols on the trading platform with 94 cryptocurrency trading pairs.
- For beginners, there is a demo trading option. It also includes 66 charting and trading indicators.
- Charges 0.75 percent for trading crypto. On the other hand, the fee for converting fiat currencies to cryptocurrencies is 5%. For crypto-to-crypto exchange, eToro charges 0.1 percent.
- Cryptocurrencies, CFDs, FX, stocks, exchange-traded securities, and other digital assets are available to trade.
- For US stock traders, there are no commissions. However, users have the option of investing in fractional shares.
What Sort of a Fee Is Considered to Be ‘High’ When Dealing With Cryptocurrency Exchanges?
Anything higher than 4% is usually considered a high fee. When compared to the fees charged by the majority of the crypto exchanges on the above-mentioned list (i.e. Binance and Kraken), 4% may appear to be excessive. Still, there are several factors that play into the fee system; for example, some exchanges may charge more costs in exchange for better security or other benefits.
What Is the ‘Cheapest’ Cryptocurrency Exchange?
The “cheapest” cryptocurrency exchange is one that offers the finest (lowest) costs for buying and selling (or simply trading) crypto assets to its users. While Binance or Kraken may be cheap (in the best possible sense), there are other trading platforms that have substantially higher costs.
How Can I Avoid Crypto Fees?
Fees and limits for withdrawals
As with all transactions on the blockchain, there is a fee. Note: If you do it on-chain, there will also be a fee for transferring crypto to the address of your Crypto.com Wallet App. Please use the Withdraw to App function to avoid a fee.
Is It Cheaper to Buy on Binance or Coinbase?
Overall, Binance’s fees for trading cryptocurrencies and adding money to your account are much lower. Users are charged a flat fee of about 0.50% per transaction on Coinbase. Coinbase also charges extra fees based on the account that was used to make the transaction.
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- Best Crypto Exchange: Top 10 in Different Categories by Reviews
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