Crypto Exchanges with the Lowest Fees: Discover the Most Affordable Bitcoin Exchange
This list of crypto exchanges with the lowest fees will assist you in selecting platforms that provide the most favorable fee structures available. Many investors overlook trading fees and other hidden expenses when they are considering investing in cryptocurrency.
In addition to the price of the crypto asset itself, each crypto exchange imposes a fee for trading when users buy and sell digital assets. Many platforms use a maker and taker fee model, which affects liquidity by executing market orders. It’s essential to also account for trading commissions and fund transfer fees when selecting a cryptocurrency exchange.
Each trade involves two parties: the maker and the taker. The maker is the individual whose order is already listed on the order book before the transaction, while the taker is the one who places a new order. The term “maker” is used because their order adds liquidity to the market. Conversely, takers draw from this liquidity by matching their orders with those of the makers.
Lowest Fee Crypto Exchanges List
- Bybit – Offers low fees ranging from 0.025% to 0.075%
- PrimeXBT – Enjoy the lowest fees starting at just 0.050%.
- Phemex offers low fees ranging from 0.025% to 0.075%.
- Binance – Fees as low as 0.10%
- BitMEX – Competitive fees ranging from 0.025% to 0.075%
This article explores some of the top low-cost cryptocurrency exchange options available in the market.
ByBit – Competitive fees ranging from 0.025% to 0.075%
Bybit exchange stands out as one of the most affordable cryptocurrency platforms worldwide due to its competitive fees. When traders execute transactions on Bybit, the platform imposes a fee or provides a rebate depending on the trader’s liquidity role. Market makers, who contribute to liquidity and enhance the depth of the order book, benefit from a rebate or negative trading fee. This rebate is set at -0.025%.
On the other hand, the taker’s fee is set at +0.075%; however, these rates are not fixed and may fluctuate based on market conditions and exchange policies.
PrimeXBT – Cryptocurrency Exchange with the Most Competitive Fees
PrimeXBT is a top-tier cryptocurrency exchange known for its low fee structure, global market access, and round-the-clock customer support. It provides innovative trading options that enhance convenience for traders.
One such trading service is Covesting, which allows users to follow experienced traders and replicate their trading activities. This is particularly beneficial for individuals who are new to crypto trading or have limited time. Additionally, skilled traders can permit others to follow their trades and earn a success fee from their followers.
Since its inception, PrimeXBT has adapted to the evolving crypto landscape, providing favorable trading conditions and competitive fees. The trading fees are set at 0.01% for indices and commodities, 0.05% for crypto assets, and 0.001% for major forex pairs.
Phemex – Offers low fees ranging from 0.025% to 0.075%
Phemex exchange is among the newest Bitcoin derivatives platforms, known for its budget-friendly fee structure. This exchange adopts a user-focused strategy to efficiently run its trading services and products.
Phemex is among the most affordable cryptocurrency exchanges, as it does not charge any fees for deposits. This means transferring funds into your wallet is free. Nevertheless, there is a specified trading fee that applies to both market makers and market takers.
The fee structure for trading on this exchange is straightforward, with a maker fee set at -0.025% and a taker fee set at 0.075%.
Binance – Cheapest Crypto Exchange
Binance exchange is regarded as one of the most affordable cryptocurrency exchanges worldwide when compared to major market players like Coinbase, Kraken, and Robinhood.
This platform does not impose high fees for spot trades or withdrawals. Market takers are charged between 0.04% and 0.1%, while market makers are charged between 0.02% and 0.1%. The exact fee is not fixed and depends on the user’s VIP level. The fees decrease as the user attains higher VIP levels.
For withdrawing and depositing funds, the exchange doesn’t impose direct fees for fiat currencies. However, users may incur fees if they choose alternative payment methods. Typically, withdrawal fees on Binance can vary from $1 to $15.
Please be aware that if a trader moves crypto assets directly into an external wallet, the exchange will impose a small fee in addition to the gas fee. However, this withdrawal fee differs for each type of cryptocurrency.
BitMEX – Competitive fees ranging from 0.025% to 0.075%
The fees on the BitMEX exchange are quite competitive, especially when you take into account the trading opportunities available on this platform.
Similar to other market-aware exchanges, BitMEX uses a maker and taker fee system. As the bitcoin exchange with the lowest fees, it sets a taker fee at 0.0750% and a maker fee at 0.0250%. Additionally, makers can receive a small rebate on their cryptocurrency trades.
Withdrawals and deposits on BitMEX incur no charges, making it appealing to a large group of traders. The fee structure on this platform is completely transparent, with no concealed costs. This clear and cost-effective fee setup provides BitMEX with a significant competitive advantage over other major exchanges, where trading fees are typically about 0.25%.
Which Bitcoin exchanges had the lowest fees for crypto trading in 2024?
When choosing a Bitcoin exchange for cryptocurrency trading, it’s important to consider a clear and reasonable fee structure. Although every platform charges users a fee, as a crypto trader, you should select an exchange that provides low fees.
Here are a few bitcoin exchanges with some of the lowest fees:
- ByBit charges a fee of 0.075% for market takers, whereas market makers receive a rebate of 0.025%.
- Binance charges a 0.10% fee for both market takers and market makers.
- Phemex charges a fee of 0.075% for takers and offers a rebate of 0.025% for market makers.
- PrimeXBT charges a fee of 0.050% for both market takers and market makers.
As a cryptocurrency trader, it’s important to prioritize security measures provided by an exchange instead of focusing solely on low fees.
In Conclusion: Which cryptocurrency exchange is the most affordable?
In conclusion, determining the crypto exchange with the absolute lowest fees that meets all trading requirements is a challenging task. Each of the mentioned exchanges offers a clear fee structure designed to help you manage your crypto holdings without excessive costs.
Nonetheless, Binance stands out due to its comprehensive features and competitive pricing. Additionally, for novice traders aiming to get acquainted with crypto trading, Binance’s user-friendly interface makes it an excellent choice.
