Getting into the cryptocurrency world is now easier than ever. With so many exchange platforms and websites available, anyone can pull out their credit card and start buying all kinds of different coins. In just a matter of a few minutes, you could be online, trading coins and making some serious money. But, if you plan on constantly trading, withdrawing, and depositing, it is very important to look for an exchange platform with low fees. Always look for the website that provides the lowest fees possible.
Why? Well, fees might not seem like a big deal at first, but once you make 10, 100, or even 1000 transactions, you will understand how much money you have lost.
Some of these platforms are asking for fees as high as ten or even fifteen percent. That should be unacceptable, especially when there are much better offers out there. Losing $150 of a $1000 trade is not worth it.
To help you get into the cryptocurrency market, we have made a list of the best exchange websites currently with the lowest fees.
Stick to this guide and you will save yourself a lot of cash.
If you are in any way familiar with how cryptocurrency works, you have probably heard about Binance hundreds of times now. And, you have heard of it for a good reason. It’s one of the most expanded platforms on the market, it provides users with the largest collection of coins, it’s easy to trade, has low fees, and the limits are pretty high too if you validate your account.
Binance advertises fees that are up to 0.1% per trade. But, usually, they take a lot less than 0.1%. It’s probably closer to 0.01% than 0.1%. It depends on which coin you are trading and whether you are a taker or a giver.
Taker profiles are those that regularly pull money out of the account without depositing ever. These profiles are prone to higher fees.
• Great security with two-factor authentication
• A large collection of crypto coins
• Great trading system
• Low fees
• Promising platform-tied coin – BNB
• Very slow and unresponsive customer service
• Some users may have trouble directly depositing fiat money
Another very popular choice for a lot of people introduced to the cryptocurrency market. It is on par with Binance in most aspects.
Coinbase is an older platform that has been around for quite some time now, meaning that the user experience has been optimized as much as possible.
On this platform, you also get access to a variety of coins, so there’s nothing you will be missing out on. Whether you are into Bitcoin, Ethereum, Cardano, Doge, or others, you will find them on Coinbase.
Unfortunately, the fees are a bit higher than what we have seen on some other websites. When purchasing coins directly with a debit card, you will see fees up to 3.99%, as suggested by smartbitcoininvestments.com.
So, we’re definitely not putting it on top of this list, but since it excels in every other aspect, Coinbase is still a great option for most newcomers.
• Easily deposit any kind of fiat money
• Very easy to use and easy to trade
• As secure as it can get
• It is still unavailable to a lot of countries
• Fees can go up to 4%
If Binance and Coinbase do not support your country or if you are having trouble making an account because of the ridiculously slow support system on Binance, you should consider making a new account on CEX.IO.
It is a platform that does not have nearly as many coins as some of the other platforms do, but it’s still pretty intuitive to use, especially if you are a beginner in crypto.
If you are not a taker, the fees can stay lower than 0.30%. But, if you are a taker, fees can go pretty high. In our experience, withdrawing too much from CEX.IO can lead to a percentage of about 10%. That is a lot of money.
Nevertheless, it still a good exchange website. And, it gets an added plus because it has a pretty optimized application for both iOS and Android.
• Easy to set up and use on phones
• Trade coins in a matter of seconds
• Very responsive support
• Considerably lacks in the choice for crypto
• Fees can get pretty high for takers
• Unable to trade on the website. Have to download the desktop app
Bittrex may not be popular as the three platforms that we mentioned above, but it is definitely not something you should ignore as an option.
Of course, you won’t get the privilege of accessing hundreds of different crypto coins on just one platform, but at least you will have a much higher level of security.
Bittrex claims that all of the digital assets (all of our wallets) are kept on offline storage, which is the safest way to keep crypto. If it’s not connected to the internet, no one can access it. Simple as that. This is why a lot of crypto enthusiasts have a physical wallet.
The only downside is that it can be a bit difficult to use for beginners. It is a platform that is oriented towards enthusiasts in the market. But, I am sure you could get the hang of it after a few days or weeks of using it.
When it comes to fees, Bittrex does not provide a bad offer at all. There is a fixed fee of just 0.25% for every account. That is pretty cheap and it is good to hear that the fee won’t deviate as you continue trading in the future.
According to CryptoHead, Bittrex fees could be lower than Coinbase Pro taking into account the bank deposit charges.
• Best wallet security out there
• Low and fixed fees
• Not the most intuitive website or application. Best suited for experts or experienced users
We could probably go on and list a dozen more exchange websites, but we believe that these four listed above are some of the best ones in terms of practicality, availability, and, most importantly, fees.