Author: Eduardo Montero
In this article, I will explore with you some of the best cryptocurrency exchanges that stand out for their low fees.
Each of these crypto exchanges offers a competitive commission structure that can help you maximize your cryptocurrency investments.
Whether you are an experienced investor or a beginner in the world of cryptocurrencies, this article will provide you with valuable information to make an informed decision on which exchange to use taking into account in particular that the fees they offer are low.
Interested, read on if you’re looking for an crypto exchange to reduce costs and increase your returns! 👇🏻
What are the best crypto exchanges with low fees?
1- Binance
Binance is a cryptocurrency exchange platform recognized for its competitiveness in terms of commissions, being the best or one of the best in this aspect.
Commissions for withdrawals or deposits in Binance
When withdrawing cryptocurrencies to another wallet, Binance charges a fee that varies depending on the type of cryptocurrency.
For example, for Bitcoin (BTC), the fee is 0.0005 BTC per withdrawal, while for Ethereum (ETH), the fee is 0.0036 ETH.
However, some cryptocurrencies such as Polkadot (DOT) and Cardano (ADA) allow free withdrawals.
It is important to mention that if the withdrawal is made to another Binance wallet, the transaction is free of charge and the commission is automatically refunded once the withdrawal is made.
Trading fees on Binance: “Maker” and “Taker”.
Binance trading commissions also vary depending on whether you are a “maker” or a “taker”.
Makers are those who propose new trades to the market, while takers are those who accept and execute these trades.
Commissions for makers and takers start at 0.1% for users with VIP level 0 and decrease as the VIP level increases, reaching up to 0.02% for makers and 0.04% for takers at VIP level 9.
Fees for purchases by SEPA card or SEPA transfer in Binance
If you plan to buy cryptocurrencies on Binance, fees vary depending on the payment method.
The cheapest option is to load balance via SEPA transfer (UE Only), which is free, and then use that balance to buy cryptocurrencies with a 0.5% commission.
If you opt to buy with a card, the commission will be 2%.
Binance Card Fees
The Binance card also has fees associated with it.
Up to 0.9% is charged for each withdrawal or purchase transaction, and a fee of €25 is charged for each physical card issued.
Sign up in Binance and get up to 100 USDT in discounts
2- BitFinex
Bitfinex, although not such a popular exchange among users, offers one of the best commission systems today
Deposit Fees in Bitfinex
Bitfinex does not charge commissions for cryptocurrency deposits. However, for fiat currency deposits, the fee is 0.1%.
Withdrawal Fees in Bitfinex
Withdrawal fees at Bitfinex vary depending on the token and network used.
For withdrawals in fiat currency, the fee is 0.1%, and in the case of express bank withdrawals, the fee amounts to 1%.
It is important to mention that withdrawals to another Bitfinex user’s address are free of charge.
You can register with Bifinex here.
3- KuCoin
KuCoin is another exchange that stands out for its fees and commissions structure, being one of the most competitive along with Binance.
Deposit Fees in KuCoin
KuCoin does not charge commissions for depositing funds, making it easy for new users to join and add funds to your account.
Withdrawal Fees in KuCoin
As for withdrawal fees, KuCoin applies a fee that varies according to the cryptocurrency being withdrawn.
For example, for Bitcoin, the fee is 0.0005 BTC, for Ethereum it is 0.008 ETH, for Binance Coin it is 0.01 BNB, and for XRP it is 0.1 XRP.
Trading Commissions in KuCoin
KuCoin also charges commissions for trading operations.
In this case, the platform distinguishes between “makers”, who create a trade proposal, and “takers”, who accept such a proposal.
For makers, the commission is 0.02%, while for takers, the commission amounts to 0.06%. In the case of settlement of a trade, the commission is 0.025%.
Sign up on KuCoin and trade a wide variety of cryptocurrencies!
4- Crypto.com
During the first month after registering with Crypto.com, you will not be charged commissions for buying and selling cryptocurrencies.
After this period, the commission for buying assets with a card is generally 3%.
Trading Commissions in Crypto.com
Trading commissions at Crypto.com vary according to the trading volume of the account in the last 30 days.
Below, I will give you a summary of commissions according to trading volume:
Level | Trading Volume (last 30 days) | Maker Commission | Taker Commission |
---|---|---|---|
1 | Up to $25,000 | 0,40% | 0,40% |
2 | From $25,001 to $50,000 | 0,35% | 0,35% |
3 | From $50,001 to $10,000 | 0,15% | 0,25% |
4 | From $10,001 to $250,000 | 0,10% | 0,16% |
5 | From $250,001 to $1,000,000. | 0,09% | 0,15% |
6 | From $1,000,001 to $20,000,000. | 0,08% | 0,14% |
7 | From $20,000,001 to $100,000,000. | 0,07% | 0,13% |
8 | From $100,000,001 to $200,000,000. | 0,06% | 0,12% |
9 | Over $200,000,001 | 0,04% | 0,10% |
Sign up on Crypto.com and get discounts on your first transactions! 💰
5- Coinbase
Coinbase also offers a competent commission system, being one of the exchanges with the lowest fees today.
Transfer Fees in Coinbase
Coinbase applies fees depending on the type of transfer and whether it is made in XRP (Ripple) or USDC cryptocurrencies.
Transfers between Coinbase accounts are free of charge if made in XRP or USDC.
However, between Coinbase users bank transfers are higher, with a $30 fee.
If the transfer is made outside of Coinbase, the commission is $30 for bank transfers, $0.01 for XRP and $1 for USDC.
Commissions for Buying and Selling Cryptocurrencies in Coinbase
Coinbase applies a spread of approximately 0.5% on the purchase and sale of cryptocurrencies.
In addition, Coinbase applies commissions that vary depending on the volume of your transaction.
For small transactions, the fees are fixed and change as the transaction volume increases:
- Transactions up to $10, the commission is $0.99.
- Transactions over $10 and up to $25, the commission is $1.49.
- Transactions over $25 and up to $50, the commission is $1.99.
- Transactions over $50 and up to $200, the commission is $2.99.
On the other hand, variable commissions in Europe are as follows:
- Standard Buy/Sell: 1.49%.
- Instant purchase with debit card: 3.99%.
- SEPA transfer: 0,15€.
- Immediate card withdrawal: Up to 2% (minimum 0.55 €).
Other Coinbase fees (per transaction and credit).
Coinbase charges up to 2% per transaction for direct conversion of one cryptocurrency into another.
Finally, Coinbase charges a flat fee of 2% of the total amount of a dollar loan transaction either on the platform itself or at an affiliate.
You can register with Coinbase here.
6- Kraken
I cannot make a list of exchanges with low fees without mentioning Kraken, which is one of the exchanges with the lowest commissions.
Opening and closing fees at Kraken
Opening and closing fees at Kraken are applied when a new trade is opened with any cryptocurrency, and the closing fee is applied for each certain period of time the trade is kept open.
For example, if it is a Bitcoin trade that is kept open for eight hours, a 0.02% closing fee will be charged.
This is because the closing fee for every four hours is 0.01%.
The opening and closing rates for various cryptocurrencies in Kraken are as follows:
- Algorand (ALGO): 0.02% open rate, 0.02% close rate per 4 hours.
- Bitcoin (BTC): 0.01% opening rate, 0.01% closing rate per 4 hours.
- Tether (USDT): 0.01% opening rate, 0.01% closing rate per 4 hours.
- USD Coin (USDC): 0.01% opening rate, 0.01% closing rate per 4 hours.
- Ethereum (ETH): 0.02% opening rate, 0.02% closing rate per 4 hours.
- Litecoin (LTC): 0.02% opening rate, 0.02% closing rate per 4 hours.
- Ripple (XRP): 0.02% opening rate, 0.02% closing rate per 4 hours.
Purchase Fees in Kraken Exchange
Kraken also applies fees for the instant purchase of cryptocurrencies. These fees are as follows:
- Commission: 0.9% for stablecoins and 1.5% for any other cryptocurrency.
- Card payment fee: 3.75% + 0.25€.
- Online banking processing fee: 0.5%.
Click here to access the Kaken website for more information.
7- Poloniex
Finally, despite being a little known exchange with a low asset offer, Poloniex stands out for being one of the exchanges with the lowest commissions in the crypto world.
Commissions at Poloniex vary depending on the type of transaction and the role you play in the operation, either as creator or taker of the order.
Trading Commissions in Poloniex
Poloniex uses a commission schedule based on trading volume.
A maker is one whose order appears in the order book prior to trade execution, while a taker is one who “takes” or matches the existing order.
For users with a 30-day trading volume of less than $50,000 and a TRX balance of less than $49, both the maker and taker commission is 0.094%.
However, if you have a TRX balance above $0 and a trading volume between $50,000 and $1 million in 30 days, the taker’s commission is 0.09% and the originator’s commission is 0.085%.
Poloniex Plus Silver users have even lower commissions, with a taker’s commission of 0.06% and a creator’s commission of 0%.
If you have TRX on your account, these commissions are further reduced to 0.045% and 0% respectively.
Poloniex Plus Gold users enjoy the lowest commissions, with a taker commission of 0.04% and 0% creator commission without TRX, and 0.03% and 0% with TRX.
Deposit Fees in Poloniex
Depositing funds into your Poloniex account is free of charge. However, fees apply when withdrawing funds, and these vary depending on the asset being withdrawn.
Conclusion: Which of these crypto exchanges is the cheapest?
As we have seen throughout the article, these crypto exchanges have quite competent commissions and fees.
This allows their users to be able to make transactions and trade cryptocurrencies efficiently and without having to pay high amounts in transactions.
However, there are some options better than others depending on your preferences.
For example, in my opinion, the best options in terms of fees are Binance, KuCoin and Kraken ✅
This because these, in addition to offering the most competitive commission systems, also offer a wide range of services that make them more interesting and with more investment options.
But, this will always depend on your preferences and investment needs, and you will have to evaluate it on your own to make a decision on which crypto exchange you should use.
I hope this information will be useful for you! and will help you to determine which crypto exchange suits you taking into account their commissions 😉.