How to Transfer Crypto Between Exchanges

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Cheapest ways to transfer crypto between exchanges:

Cross-chain swapping tools
Use fee trackers
Use P2P platforms

Transferring cryptocurrency between exchanges is a common practice for several reasons. Users often move assets to gain access to tokens that are only available on certain platforms, reduce trading fees, or bypass regional regulations that limit the operation of some exchanges. Regardless of the motivation, users should understand how to make such a transfer correctly and safely to avoid asset loss and unnecessary expenses. This article covers the basic steps of the transfer, ways to minimize fees, and tips for improving security. Here you can learn how to choose the cheapest and fastest methods for transferring cryptocurrency, as well as how to avoid common mistakes.

Cheapest ways to transfer cryptocurrency between exchanges

We have grouped several methods that will significantly reduce the costs of transferring cryptocurrency between exchanges. The emphasis was on ensuring high speed and availability of transactions.

Cross-сhain swapping tools

Step 1: Research cross-chain swapping platforms. Begin by looking into cross-chain tools that support multiple blockchains. These platforms allow you to swap directly between different blockchain assets without the need for intermediary exchanges, which can reduce fees.
Step 2: Select the appropriate blockchain. Choose the blockchain with the lowest transaction fees for your particular cryptocurrency. This helps minimize costs when transferring across chains.
Step 3: Verify fees and security. Use the platform’s fee estimator (often shown before confirming a swap) to understand the fees involved. Also, check the platform’s reputation for security.
Step 4: Initiate the swap. Once you've selected your assets and checked fees, complete the transaction on the chosen platform. Cross-chain swaps tend to complete quickly, but this will depend on the chosen chains. Swapping one crypto for another is straightforward, and you can do it on various platforms or exchanges that support crypto-to-crypto trades.

Real-time fee trackers

Step 1: Select a reliable fee tracking tool. Use tools like Ethereum Gas Tracker (by Etherscan), Blocknative Gas Estimator, or TxStreet for real-time transaction cost insights.
Step 2: analyze traffic patterns. Track patterns in fees throughout the day. Fees often drop at specific times, such as late at night or early morning (in the U.S.), when fewer people are active.
Step 3: Set alerts for optimal transfer times. Some fee trackers allow you to set alerts, notifying you when fees drop below a certain threshold.
Step 4: Execute transfers during low traffic periods. Initiate transactions when fees are at their lowest. This approach is particularly useful for blockchains like, Ethereum where fees can fluctuate significantly based on network congestion.

P2P platforms

Using Peer-to-peer (P2P) platforms can be a cost-effective alternative for buying or selling crypto. Here’s a step-by-step guide to using P2P platforms:

Step 1: Choose a reputable P2P platform. Select well-established P2P platforms, which offer secure trading environments and diverse payment methods.

Best P2P platforms
	Min. Deposit, $	Coins Supported	P2P Maker Fee, %	P2P Taker Fee, %	Open account
OKX	10	329	0	0	Open an account Your capital is at risk.
Crypto.com	1	250	0,10 - 0,16	0,16 - 0,20	Open an account Your capital is at risk.
CoinMetro	1	72	0,1	0,2	Open an account Your capital is at risk.
Coinbase	10	249	0 - 0.40	0.05 - 0.60	Open an account Your capital is at risk.
Bitunix	10	474	0	0	Open an account Your capital is at risk.

Step 2: Filter by payment methods and location. Customize your search by preferred payment options (e.g., bank transfer, cash, e-wallets) and find local traders to avoid currency conversion fees.
Step 3: Review trader ratings and history. Check the trade history and user feedback to ensure your chosen counterpart has a strong reputation and reliable transaction record.
Step 4: Negotiate terms. Some P2P platforms allow direct communication with the buyer/seller. Clarify transaction terms, including price and payment deadline, before finalizing the trade.
Step 5: Use platform escrow services. Most reputable P2P platforms offer an escrow service that temporarily holds the crypto during the transaction, ensuring security until both parties confirm the trade.
Step 6: Complete and verify the transaction. Make the payment as agreed and confirm with the seller. Once they release the crypto from escrow, verify it in your wallet.

Warnings
Mistakes in network selection may result in irreversible loss of funds. For example, sending USDT-ERC20 to a TRC-20 address or vice versa will result in loss of assets, as the networks are incompatible. In some cases, you can try to recover funds by contacting the exchange support or using specialized solutions, but this will require significant effort and costs. It is always better to carefully check the compatibility of addresses and select the appropriate network for the transfer to avoid errors.

How to minimize fees and speed up transfers

Choose cheap networks. The Ethereum network is known for its high fees, especially during busy periods. Transaction fees can reach several dollars, and even when the network is not busy, the cost of a transaction is usually several dollars due to the higher complexity and large number of transactions.
In contrast, the TRON and BSC networks offer significantly lower fees - from $0.001 to $0.03 per transaction. TRON uses Delegated Proof-of-Stake (DPoS), which allows it to process up to 2,000 transactions per second (TPS), while BSC uses Proof-of-Staked Authority (PoSA) and can reach 1,500 TPS. This allows for lower costs and faster transfer processing.
Scheduling the transfer time. The times with the lowest network load are usually morning or night hours on weekdays, when the number of transactions is lower. For example, Ethereum may offer lower fees during periods of low activity, while high fees tend to occur during periods of high activity, such as NFT or DeFi project launches.
Use zero-fee platforms. Some platforms allow users to send cryptocurrency without fees as long as the transaction is between accounts within the platform. These offers are especially beneficial for frequently made transfers. Some exchanges also offer promotions for new users, allowing free transfers of limited amounts or asset pairs.

Cost-saving crypto transfers between exchanges

To keep your transfer costs low, use stablecoins like USDT on cheap networks. Many new traders focus too much on volatile cryptos for moving funds, but stablecoins give you a way to avoid sudden price drops while enjoying almost zero fees. For example, sending USDT via TRC-20 costs less than a penny, and you don’t have to worry about the value of your crypto changing during the transfer. It’s a smart choice if you need to shift money between exchanges regularly and don’t want to burn cash on fees.

Another trick is to move your crypto when fewer people are using the network. Sending funds during rush hours can skyrocket your fees, especially on Ethereum. But if you transfer late at night or early in the morning, you’ll save a lot on fees and get faster results. There are tools like gas trackers that tell you when the network is the least busy, so you can send your crypto without spending extra money for faster processing.

Conclusion

Transferring cryptocurrency between exchanges can be fast and cost-effective if you consider a few important aspects. Choosing a network with low fees can help reduce transaction costs significantly. Scheduling the timing of transfers and taking advantage of special exchange offers can also minimize costs. You should always carefully check addresses and networks to avoid losing assets. By being aware of possible risks and taking precautions, you can effectively manage your crypto assets, ensuring the safety and availability of funds.

FAQs

Are there alternative ways to transfer cryptocurrency without using exchanges?

Yes, there are several ways to transfer cryptocurrency without using exchanges. Atomic swaps enable cross-chain transfers directly between two parties using smart contracts. Multi-currency wallets and DeFi protocols facilitate cross-chain transfers and swaps, sometimes with lower fees. Additionally, cross-chain bridges and services support transfers across networks or for purchases, though each option may vary in fees, security, and availability depending on the blockchain.

How to assess how busy the network is before transferring cryptocurrency?

To assess the network load, you can use blockchain explorers that show the number of unconfirmed transactions and current average fees. If the load is high, it is better to wait until the network is free to avoid overpayments for speeding up the transaction.

What strategies can help reduce fees for frequent transfers?

For frequent transfers, you can choose networks with fixed low fees and higher processing speeds. Using tokens with low transaction costs or combining several small transfers into one can also help reduce costs.

Does it make sense to use different wallets for long-term storage and frequent transfers?

Yes, it is recommended to use different wallets. Hardware wallets or cold storage wallets are suitable for long-term storage, providing maximum security, while hot wallets can be used for frequent transactions, making it easier to access funds.

Team that worked on the article

Igor is an experienced finance professional with expertise across various domains, including banking, financial analysis, trading, marketing, and business development. Over the course of his career spanning more than 18 years, he has acquired a diverse skill set that encompasses a wide range of responsibilities. As an author at Traders Union, he leverages his extensive knowledge and experience to create valuable content for the trading community.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

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