Best cryptocurrency exchanges for Low Cost Trading
Cheapest cryptocurrency exchange in 2024 - Coinbase
Top cheapest cryptocurrency exchanges:
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Coinbase – spot fee 0.05%-0.6%, futures fee 0.05%;
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OKX – spot fee 0,08%-0,1%, futures fee 0,02%-0,05%;
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Bybit – spot fee 0,1%, futures fee 0,01%-0,06%;
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Binance – spot fee 0,1%, futures fee 0,01%-0,05%;
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Huobi Global – spot fee 0,04%-0,05%, futures fee 0,02%-0,05%.
As cryptocurrency trading continues to gain popularity among both retail and institutional investors, the costs associated with trading on different exchanges has become an important consideration. With crypto prices constantly fluctuating and trading volumes swelling daily across multiple exchanges, even seemingly small fees can eat into potential profits over time if not minimized. But with hundreds of crypto exchanges now available for trading globally, navigating the wide array of options and comparing their unique fee policies is no small task.
In this article, we analyze and benchmark the fees charged by some of the most popular cryptocurrency exchanges currently available on the market. We also include tips and strategies on reducing costs further through volume tiers, affiliate programs and exchange-specific tokens.
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How do I calculate trading fees?
To calculate trading fees, you need to check the fee structure of the exchange you're trading on. Then multiply the taker or maker fees rate with the notional value of your trade.
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Do exchanges charge monthly fees?
Most crypto exchanges do not charge monthly or yearly maintenance fees. Their primary revenue comes from trading commissions charged on each buy and sell order.
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How can I reduce trading fees?
Holding an exchange's native token, trading in large volumes, using promo codes or signing up through affiliate links can help lower your trading fees.
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Are withdrawal fees charged flat or percentage?
Crypto withdrawal fees are usually charged as a flat amount in the currency being withdrawn, while fiat withdrawal fees can be a percentage of the amount.
Best cryptocurrency exchanges for Low Cost Trading
What Are Cryptocurrency Exchange Typical Fees?
Trading Fee
Trading fees on cryptocurrency exchanges are fees that you must pay in order to trade on a platform. This is often how the exchanges make their money and keep their platforms running.
So, how much does it usually cost to trade on a cryptocurrency exchange? Most cryptocurrency exchanges charge between 0% and 1.5% per trade. However, these percentages depend on whether you’re a maker (buyer) or taker (seller). Fees also vary by exchange.
To understand how much you’ll have to pay in trading fees, it helps to look at an example. So, if you end up paying 0% and 1.5% trade and you invest $1,000 of your money into crypto, you’ll end up paying anywhere from $0 to $15 in fees.
Taker and Market Fee Difference
Another key aspect of trading on cryptocurrency exchanges is maker-taker fees. These fees are transaction costs that occur when orders are placed and filled.
Trading fees depend on the type of order placed. For example, if you’re a maker, you’re “creating or making” the market for other traders, bringing liquidity to the exchange.
On the other hand, if you’re a taker, you’re removing liquidity by “taking” available orders that are filled immediately.
Usually, taker fees are slightly higher than maker fees. Cryptocurrency exchanges that implement lower maker fees do so to incentivize market makers.
Deposit and Withdrawal Fee
Beyond trading fees, investors of cryptocurrency might also have to pay deposit or withdrawal fees, depending on the platform they choose. Often, deposit fees vary based on the type of deposit. However, only some crypto exchanges charge deposit fees.
The exchanges that forego withdrawal fees choose to do so because it might disincentivize traders from funding their accounts. Therefore, deposit fees tend to be less common than withdrawal fees.
For cryptocurrency withdrawals, many exchanges charge a flat fee regardless of the amount withdrawn. However, some might take an additional fee based on your country or the type of withdrawal (i.e. whether it’s crypto or fiat).
Other Fees
There are other fees on certain crypto exchanges that you may run into. For example, you might have to pay borrowing fees on crypto exchanges that offer margin trading.
With margin trading, you can borrow additional funds to increase your position and create leverage. So, if you’re trading on margin, you may have to pay additional fees based on the amount you borrow.
You might also be subject to paying an interest rate, which is typically based on the supply of funds available. You might also be responsible for liquidation fees if your trade goes upside down and the position is liquidated.
Cryptocurrency Exchanges With Lowest Crypto Trading Fees
Below are the cheapest cryptocurrency exchanges (spot)
| Exchange | Max. Maker Fee | Min. Maker Fee | Max. Taker Fees | Min. Taker Fee | |
|---|---|---|---|---|---|
0.4% |
0.0% |
0.6% |
0.05% |
|
|
0.08% |
0,06% |
0,1% |
0.08% |
|
|
0.1% |
0.0005% |
0.1% |
0.02% |
|
|
0.1% |
0.02% |
0.1% |
0.04% |
|
|
0.2% |
0.0126% |
0.2% |
0.0218% |
|
|
0.016% |
0.0% |
0.26% |
0.01% |
|
|
0.02% |
-0.01% |
0.075% |
0.0175% |
|
Below are the cheapest cryptocurrency exchanges (futures)
| Exchange | Max. Maker Fee | Min. Maker Fee | Max. Taker Fees | Min. Taker Fee | |
|---|---|---|---|---|---|
Coinbase |
0.05% |
0.05% |
0.05% |
0.05% |
|
OKX |
0.02% |
0.015% |
0.05% |
0.03% |
|
Bybit |
0.01% |
0% |
0.06% |
0.03% |
|
Binance |
0.01% |
-0.09% |
0.05% |
0.024% |
|
Huobi Global |
0.02% |
-0.01% |
0.05% |
0.025% |
|
Kraken |
0.02% |
0.0% |
0.05% |
0.01% |
|
BitMEX |
0.02% |
-0.01% |
0.075% |
0.0175% |
Cryptocurrency Exchanges Non Trading Fees Comparison
| Bank Transfer Withdrawal | Credit/Debit Card With Withdrawal | BTC withdrawal | |
|---|---|---|---|
Coinbase |
0-25 USD |
0-3.99% |
0.0003 BTC |
OKX |
N/A |
N/A |
0.00025-0.0005 BTC |
Bybit |
N/A |
N/A |
0.0005BTC |
Binance |
Depending on the bank and cryptocurrency |
1.8-1,9% |
0.000001-0.0005 |
Huobi Global |
Based on market conditions |
Based on market conditions |
0.0004 BTC |
Kraken |
From $4 |
Not offered |
0.0002 BTC |
BitMEX |
N/A |
N/A |
$0 |
Cryptocurrency Exchanges With Low Fees: How Do They Compare?
Coinbase
Coinbase is one of the pioneers and most popular exchanges in the cryptocurrency space since launching in 2012. It started by primarily offering a platform to buy and sell major coins like Bitcoin and Ethereum.
Over the years, Coinbase has expanded its offerings to include staking, lending, earning interest on stored coins, Coinbase Wallet for decentralized apps, and Coinbase Pro for more advanced traders. It has over 100 million verified users and is publicly traded on the NASDAQ.
Coinbase prioritizes security and is focused on being fully compliant with regulators in the countries it operates in. Funds are stored offline in cold storage for increased protection. The platform is best suited for beginners and more conservative crypto traders.
The exchange is known for its simple and user-friendly interface. However, this ease of use comes at a higher fee compared to other major exchanges.
Specifically, for taker orders the fee ranges from 0.05%-0.6% depending on your 30-day trading volume. For maker orders, you pay a 0-0.4% fee. Trading fees decrease slightly as your 30-day volume increases - the more you trade, the lower the percentage fee.
For Stable Pairs, the maker and taker will pay a fee of 0.00% and 0.001%, respectively.
Coinbase recently introduced futures trading through a new Coinbase Financial Markets platform accessible under Advanced Trade. During the beta launch period, futures trading fees on Coinbase are set at a discounted rate of 0.05% to encourage users to test out the new offering. This introductory fee applies to both maker and taker orders executed on Coinbase Financial Markets futures contracts.
Once the beta period ends, futures fees will adopt the standard Coinbase tiered fee structure based on 30-day trading volumes. Like other crypto exchanges, fees are expected to range from 0.1% to 0.5% depending on the order type and individual account trading performance. The current 0.05% fee during beta provides those evaluating Coinbase's foray into derivatives with reduced costs to experience futures trading before regular pricing goes into effect after the introductory period ends. It aims to attract volume and feedback during the launch phase.
While Coinbase fees are higher than most major exchanges, the platform offers easy sign-up and funding processes along with a simple interface ideal for beginners. It only allows spot trading of major cryptocurrencies.
OKX
OKX is a centralised crypto exchange and wallet platform with their headquarters in Seychelles. Formerly known as OKEx, the exchange is popular for crypto spot and crypto futures trading. It has a list of over 350 cryptocurrencies and supports more than 500 trading pairs. It is available in over 200 countries, including the United States through its sister exchange OKCoin.
What makes the crypto exchange stand out is that it offers users diversified crypto investment opportunities for those who want to do more than just crypto swapping, normal and margin trading of crypto. There are options to invest in crypto through mining pools, lending, perpetual futures, and DeFi.
The exchange charges active trading fees starting from 0.1% (taker) and 0.8% (maker). This figure reduces to 0.08% (taker) and 0.06% (maker) depending on the trading volume and the amount of native token – OKB – owned. VIP account owners enjoy taker fees of between 0.08% and 0.02%, and maker fees of between 0.06% and -0.05%.
When you use instant payment methods like Visa and Mastercard then you get additional charges of up to 4% per transaction.
Bybit
Bybit is an intelligent and user-friendly crypto trading platform that offers low trading fees. Many crypto traders prefer it because it has innovative features that allow for instant buying and selling. The exchange provides a comprehensive suite of professional trading tools and services to meet the needs of all traders regardless of experience levels.
The exchange boasts over 10 million users globally and offers access to over 100 different assets and contracts, including spot trading, crypto derivatives, and NFT marketplace, among others. They also have an impressive uptime record even through volatile market periods. The platform also has 24-hour round the clock multilingual support and is built on customer-centric values.
Users access over 300 spot trading pairs featuring some of the top digital assets. You can trade BTC, ETH, BIT, SOL, APE, DYDX, LTC, DOGE, etc. They also charge fair rates for trading fees, withdrawal fees, and even deposit fees. Bybit charges maker/taker fees depending on whether the user is adding or taking liquidity from the market.
For spot trading, the maker fee rate is 0% and the taker fee rate is 0.1% for all pairs. The exchange also offers maker rebates to encourage more market-making activities and provide better market depth. New users receive a $50 discount on deposits made within 48 hours, and a $10 discount after 48 hours. On Bybit, depositing BTC earns you a $5 bonus. You also receive a $5 coupon for following Bybit on social media.
Binance
Binance is another popular cryptocurrency exchange offering some of the cheapest fees. The exchange is one of the largest in terms of trading volumes. It supports over 150 cryptocurrencies and coins including the most popular ones like BTC, ETH, LTC and its own BNB coin. The exchange is also available to clients in Europe, Africa and Australia. It boasts over 100 million global users.
The platform is a safe crypto exchange and offers its clients almost instant transaction execution. The fees charged by Binance are among the lowest in the industry. This is good news for crypto traders who want to keep costs as low as possible.
Users are typically charged a fee of 0.015% to 0.1% t to trade crypto on the platform. It is one of the most robust crypto exchange platforms in the industry. Users can also save more by trading using the exchanges’ native coin (BNB). Trading Bitcoin on Binance also has a 0% meaning that you can save when trading one of the most popular crypto coins globally.
Huobi Global
Huobi Global is another crypto exchange with low fees, charging all traders (both makers and takers) a 0.2% base fee. And if you’re a Huobi Global token (HT) holder, you can receive a discount on trading fees, which decreases the more HT you have in your exchange wallet.
The platform also offers a tiered structure that allows you to save on trading fees. The higher the tier, the lower your trading fees. For example, as a Professional Trader on Huobi Global, you can enjoy a flat discount on the handling fee by holding 2,000 HT instead of 5,000.
You can also benefit from a 30% discount on spot market crypto trading and interest rate for leverage trading without having to worry about an extra HT handling fee.
The platform also supports margin trading in bitcoin (BTC) and Litecoin (LTC) with 5x leverage and a fee of 0.1% for 24 hours.
Kraken
Kraken trading fees are relatively low compared to competitors, with fees ranging from 0% to 0.26% per trade. And the platform’s maker-taker fees are amongst the lowest in the industry.
Kraken also offers a Pro account option, which consists of a tiered fee structure that allows high-volume traders to save on trading fees. So, for example, if you’re a trader with 30-day volumes of less than $50,000, you’ll pay as low as 0.16% in maker fees and 0.26% in taker fees.
But if you’re a trader with 30-day rolling volumes of over $10 million, maker fees can drop as low as 0%, and taker fees can drop as low as 0.10%. Beyond its low cryptocurrency trading fees, Kraken is also a great choice for traders because it supports a large number of cryptocurrencies and is a highly liquid exchange.
BitMEX
BitMEX offers some of the lowest fees in the crypto exchange landscape. When trading on the platform, you can expect to pay 0.075% on the lowest tier for taker fees. On the other hand, as a price maker, you can receive a 0.01% rebate on each trade.
If you’re a high-volume trader, you can also receive discounted price taker fees. For example, if you have a 30-day average daily volume of over 5,000,000, your taker fees will be as low as 0.050%.
Plus, you won’t have to worry about paying Bitcoin deposits or withdrawals. You’ll only have to pay the Bitcoin network fee.
How to Choose a Low Commission Cryptocurrency Exchange
There are many types of cryptocurrency exchanges available to choose from. But if you’re trying to minimize your trading fees as much as possible, how can you find exchanges that offer low commissions?
We’ve put together a step-by-step guide to help you find cryptocurrency exchanges with the lowest fees on the market.
Step 1
Research different cryptocurrency exchanges that are available in your country. Make a list of possible exchanges.
Step 2
Go on each exchange’s website to look at their fees. Under each exchange, write down their fee structures. This might include commissions, trading fees, maker-taker fees, or margin trading fees. Other fees you might consider are potential liquidation fees. Also, if withdrawal and deposit fees are something you’re concerned about, check whether potential exchanges charge these fees.
Step 3
Using the information you’ve gathered about potential exchanges, create a comparison table. List out the different exchanges.
Create columns/rows for different fee categories, including commissions, trading fees, maker vs. taker fees, any margin trading fees, liquidation fees, or deposit and withdrawal fees.
Looking at the comparison table, determine which platforms offer the most favorable trading conditions and the lowest fees.
It’s a good idea to eliminate the ones that offer trading fees higher than 1.5%. Anything lower than 1.5% is considered low when it comes to trading fees. So, by sticking to this rule, you can narrow down your choices to just a few exchanges.
Step 4
Consider if the different platforms offer tiered accounts, which provide you with opportunities to decrease your trading fees.
Some crypto exchanges offer professional accounts that allow you to get discounts for your trading fees. However, other platforms don’t offer these opportunities. So, be sure to do your research and compare.
Step 5
Some crypto exchanges have their own native coin like Binance (BNB), OKEx (OKB), Huobi Global (HT), and many more.
Usually, these platforms allow you to reduce your trading fees by staking a certain amount of their native coins.
The more coins you stake, the more you can save in trading fees. If this sounds like something you’re interested in, be sure to keep this factor in mind when considering low commission crypto exchanges.
Step 6
As you consider the many factors in regards to trading fees for different cryptocurrency exchanges, you might come across a few with a similar fee structure.
To help you narrow your list down further, you can consider other features beyond trading fees. There are other things that can make your trading experience a positive one.
For example, a platform’s ease of use, security, the number of supported cryptocurrencies, whether the platform offers margin trading, whether the exchange is under regulation by financial authorities, the available trading platforms, and the method of purchasing coins.
You might also consider the minimum amount you can deposit to open your account. Some platforms have high deposit minimums, while others allow you to deposit a small amount of money to get started. Maybe, you also interested in information how to turn $100 into $1000 in crypto trading.
You can also see if the exchanges you’re considering have sign-up offers and other deals that give you access to free cryptocurrency.
For example, some exchanges may offer a certain number of free Bitcoin or even give you money upon creating a new account. This will, in turn, reduce the fees in your portfolio balance.
With these features, you can create another comparison table. Only this time, you’ll be listing out the exchanges you’ve narrowed down. And the columns and rows will have the different features offered by each platform that doesn’t have to do with trading fees. This can help you narrow down your choice further.
Step 7
Looking at the comparison table, consider which features mean the most to you. For example, if you’re interested in margin trading, and only one platform in your list offers it, then choose that platform.
Follow the same principle for features that you’re most likely to use. From there, you should be able to settle on one or two exchanges.
How Do I Exchange Cryptocurrencies Without Fees or With Low Fees?
There are several ways to trade crypto with low fees including:
Using peer-to-peer trading platforms where you can trade and purchase crypto directly from others without the need for a centralized authority.
Use decentralized exchanges which operate on blockchain technology and allow users to trade crypto directly without a centralized authority.
Look out for promotions and referral programs. Most exchanges will offer promotions and referrals to gain and keep clients. These can help you lower fees when trading crypto.
Instead of placing market orders, which can incur higher fees, use limit orders to buy or sell at a specific price. Limit orders can help you save on fees and get a better price.
Some exchanges offer rebate programs that refund a portion of the fees you pay. Take advantage of these programs to earn back some of your fees.
Use a native token. Many cryptocurrency exchanges offer a discount on trading fees if you use their native token to pay for fees.
Consider using a trading bot. Trading bots can help you automate your trading and reduce the fees associated with overtrading.
Most exchanges offer tiered fee structures where traders pay less the more they trade within a specific period, often 30 days. Aggressively increasing monthly volume can help unlock better fee tiers.
Summary
There are a variety of low-cost cryptocurrency exchange options available for traders looking to minimize their trading fees. While the top-tier centralized exchanges generally offer the widest choice of coins and the deepest liquidity, some smaller alternative platforms have more competitive fee structures.
Traders need to carefully evaluate their individual trading requirements, preferences, location, and other important considerations beyond just fees to identify the optimal exchange match. Aspects like available payment methods, user experience, research tools, regulatory approvals, and customer support quality also warrant close attention.
Leveraging strategies such as maintaining loyalty token balances, increasing monthly volumes, and using limit orders can further help reduce costs on any given exchange. Referral promotions should also be utilized during account signups where possible.
For most traders, especially beginners, established names like Bybit, Binance, and OKX remain sound choices due to their overall quality and ease of use. However, experienced volume-focused clients may benefit more from other futures and derivatives platforms with finely-tuned maker-taker fee models.
With the right research and strategy, it is certainly possible to minimize trading fees in the cryptocurrency space. Even tiny improvements in overall costs compound tremendously over time. Choosing the exchange, and employing techniques to optimize rates, should therefore remain an ongoing focus for all market participants.
Expert Opinion
This ranking of cryptocurrency exchanges for cost-effective trading was compiled not only with regard to commission policies. The research also considered important indicators such as the variety of trading instruments, entry thresholds, security guarantees, and the presence of profit withdrawal limits. The rating aims to assist traders in identifying a suitable option that corresponds to their financial goals and trading style. Executing transactions on platforms with low commissions indeed helps significantly reduce expenses and maximize profits, but it's essential not to rush the choice. It's better to carefully assess all aspects and make an informed decision.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Team that worked on the article
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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.