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Cryptocurrencies are becoming increasingly popular. In fact, their popularity has been on the rise even during the ‘crypto winter’. Judging by the current prices of various cryptocurrencies, we might be up for a ‘crypto summer’. Bitcoin’s price is up, Ethereum’s price is up, and there is a new player in the game presented by none other than Facebook itself. Whether Libra is going to disrupt the market or not is still very difficult to say. The best thing you could do at the moment is try to stay at the top of your game when it comes to cryptos. This means you should follow the prices, buy, sell or ‘hodl’ – whichever strategy seems right to you.
In order to do that, you will need the help of online cryptocurrency exchanges. You also want to lose as little money as possible on the fees while operating at them, so we decided to make your life a bit easier by providing you with a list. It features cryptocurrency exchanges that have the lowest fees at the moment. Let’s take a look.
CEX.IO is one of the most popular online cryptocurrency exchanges which is available in many countries around the globe. The platform offers people to buy and sell Bitcoin, Ethereum, and many other cryptocurrencies. Some of the fees for deposits/withdrawals and makers/takers are indeed applicable, but they are among the lowest in the entire industry. Taker fees start at 0.25% for less than 5 BTC and gradually decrease as the amount of money per transaction increases. Therefore, if you trade more than 6,000 BTC, your fee as a taker will be 0.10% of that amount. On the other hand, fees for makers are a bit lower and start at 0.16% of the amount traded. Moreover, those who trade more than 6,000 BTC as makers will not have to pay any fees. Note, however, that the fees are based on your 30-day trade volume.
Deposit fees are usually 2.99% if you use MasterCard or Visa. However, if you use bank transfer or ACH, there are no fees. When it comes to withdrawals, the numbers differ a bit. VISA withdrawals will result in a service charge of up to 3% + $1.20. Furthermore, there is a commission fee which is up to $3.80. If you decide to withdraw using MasterCard, you will have to pay a service charge of up to 1.8% + $1.20, but there will be a commission fee of up to 1.2% + $3.80. Withdrawing using bank transfer and ACH is 1%, but the minimum amount has to be at least $50.
Binance is also a very popular online exchange that supports more than a hundred coins at the moment. If you are into crypto-to-crypto trading, it is probably the most affordable option for you out there. Their payment system also focuses on maker and taker fees. They start at 0.10% for both makers and takers and for all sums that are under 100 BTC. Just like at CEX.IO, the fees go down with amounts. The minimum fees you will pay is 0.02% for makers and 0.04% for takers for sums over 150,000 BTC.
Deposits are free on Binance, but their withdrawal fees are a bit more complicated as they are adjusted according to “blockchain conditions.” In other words, Binance has quite a lengthy list of all the cryptocurrencies they support and their withdrawal fees at the moment.
Bittrex is a Seattle-based cryptocurrency exchange platform established back in February 2014. The company is US-focused and is currently considered one of the best cryptocurrency exchange options for Americans. They have a concept of “flat fees,” which is 0.25% for all makers and takers. In other words, regardless of the amount you trade, the fees will always stay the same. Bittrex has been quite competitive for the last couple of years when it comes to how much they charge, but they will eventually have to introduce lower fees for bigger trades if they want to remain in the business. Nevertheless, their fees are still some of the lowest in the industry.
The platform also charges 0.001 BTC per withdrawal. Although this is slightly more than average, they are still doing their best to provide a service that is better than its competitors. That is to say, you will pay a bit more but get your money’s worth.
Bitpanda is one of the best exchanges for cryptocurrencies that focuses on the Eurozone. It is actually a crypto broker that offers users to buy and sell Bitcoin and other crypto coins. Therefore, if you live in Europe and need a stable platform with compatible fees, you might like what Bitpanda has to offer. The platform also features flat fees which are set at 1.49% for buying Bitcoin and 1.29% for selling it.
If your amount is greater than 0.05 BTC, you will have a free deposit. Otherwise, you will have to pay a 0.0001 BTC deposit fee. On the other hand, withdrawal fees are set at 0.00049910 BTC at Bitpanda.
Coinbase Pro is perhaps the most popular US-based online cryptocurrency exchange, and it offers competitive fees as well as a great service if you live in the US. If the trade amount is less or equal to $100,000, you will have to pay a fee of 0.25% as a taker and 0.15% as a maker. The prices get lower as the volume of trade increases. For example, if you trade between $100K and $1 million, the prices will be 0.20% for takers and 0.10% for makers. Everything above $50 million is free for makers and 0.10% for takers. Finally, the lowest amount for takers is 0.05% for $1 billion trades.
Depositing and withdrawing cryptocurrencies is completely free. Furthermore, you will not have to pay anything if you use ACH as your payment method. Residents of the US can use Wire and pay fixed rates of a $10 deposit fee and a $25 withdrawal fee. Furthermore, Europeans will have to pay SEPA fees which are €0.15 EUR for both deposits and withdrawals.
As you can see, there are quite a few options of low-fee cryptocurrency exchanges that you can choose from. Check each of them carefully, read customer reviews, and opt for one that will better meet your needs. If you are looking for an international exchange that supports multiple fiats — go for CEX.IO with no doubt. If your preference is crypto/crypto trading, then Binance might be your best option. And, finally, US-based customers will certainly benefit from using either Coinbase Pro or Bittrex. The choice is yours!