Those working with digital assets have probably tried numerous exchanges and platforms for conducting operations with crypto. Let’s first see the criteria for picking a crypto exchange:
- Trade volume. Some resources like Coinmarketap show the rating of crypto platforms with data about them. Trade volume is a figure that means the volume of transactions in 24 hours. The higher the figure – the more people use a platform daily. So it is better to pick a crypto exchange with a high daily trade volume.
- Fee policy. If you are looking for cheap crypto exchange, check out the information on the fee policy and see how the commission is accrued.
- The number of cryptos supported. If you need some particular coin, check out where you can purchase it across credible crypto platforms.
- The level of security. Find out about the mechanisms of the exchange’s safeguard, its foundation and the protocols it runs on.
- Trading tools available. Legitime crypto services enable various trading instruments: futures trading, margin, p2p, spot, etc.
Based on the criteria we have just mentioned, we selected five services for trading:
- Binance
- KuCoin
- WhiteBIT
- Gemini
- OKEx
Now, let’s find out which crypto exchange has the lowest fees?
The Cheapest Crypto Exchange
KuCoin fees vary between 0,0125% – 0,10% depending on the maker or taker position.
Binance fees vary depending on the withdrawal or depositing method you pick. For instance, the commission for using a bank card is 4,5%. To purchase or sell assets, you will have to pay 0,50%.
Gemini’s fee policy varies depending on the maker or taker position, the tier level you pick, and the number of coins you trade. Those trading $50 – $200 pay the commission of $2,99. For $200 and more, you will pay a 1,49% fee.
WhiteBIT has a fixed fee for all operations, 0,10%. Depositing with a Monobank card implies zero fees. Other banks’ commissions vary from bank to bank.
OKEx fees depend on the volume traded. Transactions on the spot market will cost you 0,10%. Regarding futures, options, etc. – the commission varies.
It turns out that WhiteBIT is the cheapest crypto exchange.
