Best cryptocurrency exchanges to trade with the smallest fees on 2020

This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012.

Fees suck! Nobody likes fees and most probably you are getting surprised when you see that you are being charged fees to use cryptocurrency exchange platforms. Most of the time, fee types include charging the deposits and withdrawal from the exchange’s account and applying fees on the trading activity. There are three types of ways how crypto exchanges could charge. First, they can charge a flat fee, second, they can charge a percentage of the value of the transaction and third, they can do a combination of both.

Well, this is the way crypto exchange platforms make their money. They have to charge fees in order to have a source of income so they can provide customer support and pay salaries to their tech team support.

However, there is a huge debate and enthusiasm out there about how cryptocurrencies work and how to earn Bitcoin. So, obviously fees will never be welcomed.  And, like in each industry, there should be someone out there who has a cheaper price or maybe does not charge at all!

Obviously, crypto exchanges cannot charge a huge fee amount considering that they need customers. So, in order to keep the customers, they need to lower their fees.

There are a couple of crypto exchanges that are ranked among the best and charge the lowest fees.

So if you are interested to keep on reading…

To make your search about how to exchange with the lowest fees easier, we have picked 10 crypto exchanges with that have the lowest fees out there:

In case you are looking to trade daily with leverage here is a great article that explains in detail what’s the differences between bitby vs bitmex.

1.     Binance

With a 24-hour trading volume of $917 million, Binance is the largest crypto exchange in the world.  Binance uses a maker-taker system of charging fees. If the trading volume is below 100 Bitcoins or below 50 (BNB) Binance Coins, the makers, and takers are charged 0.10%. That is a pretty good deal, isn’t it?

Until the volume reaches 500 Bitcoin and 200 BNB, for takers, the fees remain the same. After that, takers’ fees go down. For a trading volume above 150,000 Bitcoin and 11,000 BNB, the lowest fee for takers is 0.04%.

If the volume exceeds 100 Bitcoin and 50 BNB, for makers the fee declines to 0.090%.

Makers’ fees get lower with higher volume until 0.020% that is charged if the trading volume exceeds 150,000 Bitcoin and 11,000 BNB.

Also, Binance offers discounts for traders that hold (BNB) tokens and if fees are paid in (BNB) Binance offers additional accounts.

2.     HitBTC

HitBTC supports over 300 cryptocurrencies and has a trading volume of  $180 million, making it one of the largest exchanges out there.

HitBTC only charges the market takers 0.1% fee and moreover it rewards the market takers with 0.1% rebate.

Maybe it might not look like the lowest fee compared to the other exchanges but when you disregard the value of the transaction it ends up being the same!

3.     BitFinex

Without any doubt, BitFinex is one of the largest crypto exchanges out there. With BitFinex the fees vary.

If the volume is up to $10 million, the fee is 0.20% for the takers, but then declines and reaches 0.055% if the volume exceeds $30 billion.

For makers, fees start at 0.10% for a volume up to $500,000 but decline to zero if the volume exceeds $7.50 million.

4.     KuCoin

KuCoin supports over 180 cryptocurrencies and it is one of the youngest crypto exchanges since it is launched in 2017. The fees that KuCoin charges vary depending on the currency.

This crypto exchange charges adjustable amounts of withdrawals. For example  if you withdraw Bitcoins you will be charged a fee of 0.0005 Bitcoins. There is a 0.1% fee for each transaction.

But similar to Binance, KuCoin has its own native tokens and if you use them you will get up to 30% discount.

5.     Kraken

Founded in 2011 Kraken is one of the oldest Bitcoin exchanges with a total trading volume of over $120 million. The pricing model is similar to other crypto exchanges except that the market makers don’t pay any fees if their 30-day trading volume is above $10 million. But, if the volume falls below $10 million  they have to pay a fee of 0.02%

6.     Crypto.com

If you are new to crypto, definitely check out this exchange app. It is one of the easiest trading apps where you can trade crypto for crypto at 0.0%, although they have withdrawal fees. Crypto.com offers some nice think like for example a Visa debit card which you can use anywhere that accepts Visa.

7.     ityBit 

ByBit could be the next hot exchange. It has some nice signup bonuses for new users, margin trades, nice trade experience and many more. If you are new and you are curious or willing to get into the crypto industry check this one out. It is definitely worth it!

8.     Bitmex

Well, if you want to use Bitmex you have to be an experienced trader. Bitmex has lower fees – the maker fee for Bitcoin is 0.025% and the taker fee is 0.075%. They offer tradings on altcoins and futures like EOS, Cardano, Bcash, EOS, Etherium, Ripple and Tron. The cryptocurrencies you can trade on BitMEX include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Cardano (ADA), EOS (EOS), Litecoin (LTC), Ripple (XRP), and Tron (TRX).

9.     CEX.io 

CEX.io is a UK based exchanger and it makes the list since it only charges 0.20% per trade, compared with the standard fee of 0.25% in other exchanges. They have a solid user interface and it’s one of the few exchanges that allow you to cash out to fiat similar to Coinbase.

10.   Coinbase pro

Coinbase Pro is a platform for more advanced cryptocurrency traders. It doesn’t charge a maker fee although takers have to pay 0.30% fee per transaction. But, if the total trading volume exceeds $10 million within 30 days, the fee is reduced to 0.20% and if the volume goes above $100 million within 30 days, the fee falls to 0.10%

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Post source: Best cryptocurrency exchanges to trade with the smallest fees on 2020

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