How to buy Bitcoin without fees?
It’s possible to buy Bitcoin with zero fees at all if you use Lykke Wallet crypto exchange platform. Learn how…
To buy Bitcoin and other cryptocurrencies without paying any fee is totally possible, even if it sounds unbelievable. In this article, we will tell you how to deposit fiat to a crypto exchange and buy Bitcoin or other cryptos without any commission.
Many of us, especially early adopters, have repeatedly faced the same problem: to get access to the new generation financial world, democratized by blockchain technology, we have to solve a multi-step quest, including doing our homework to find a reliable platform, downloading the app, submitting the ID docs and getting KYC-approved.
But what a disappointment it is when having passed through the nine circles of hell, we realize that this “new generation crypto app” is a good old commercial platform built to earn on commissions at each step the user takes. The information about its fees is hardly accessible, the support service is offered by a bot and part of the money you sent as a SWIFT deposit from your banking account was lost on the way in numerous commissions… So, it’s a quite common opinion that to buy Bitcoin (or other cryptocurrency) with no fees is simply impossible. Too sad, but not in the case with Lykke!
Lykke is an app that allows its lykke users to buy Bitcoin and other cryptocurrencies with no fees at all if based in the EU. Here’s why:
When the European Union was first built, the bases for it were purely economic. And the economic freedom remains part of its philosophy giving European residents bunches of privileges, such as mobility or equal rights across the Union. The SEPA system of banking information exchange is one of the mechanisms fueling the free European economic exchange. The European banks in 34 countries are all integrated in this surprisingly fast and seamless system of interchanging information about money transfers.
The good part about it is that being obligatory, cheap and easy to use, this system allows European banks to drastically reduce the fees they charge us, their clients, for transfers in euro. If your bank has not done so yet it’s because you don’t know your rights ;)
Crypto platforms based in the European Union also have a corporate account in a European bank. This means that they also use the SEPA system for users’ deposits and withdrawals. Lykke is one of them and if your bank charges you 0 or close to 0 fee (sometimes it’s a couple of euro) for SEPA transfers, your money arrives to your Lykke account entirely and intact. But that may be the case with other European crypto apps…
What is not the case with other crypto exchanges with a 0% deposit fee is the trading fee. What Lykke stands out for is that it also has a ZERO trading fee which allows you to exchange your cash to Bitcoin entirely with no commission at all! Once you have made some money by trading, you can exchange your crypto back into fiat and withdraw it to your banking account, again, with absolutely no fees charged by Lykke from your Lykke Wallet (your bank may change some though if there’s a correspondent bank, but it’s uncommon in the case of SEPA).
The new generation financial system is becoming a reality, slowly but firmly, but many just don’t know about it. Lykke exchange was founded back in 2015 by Richard Olsen, a pioneer in high frequency finance research and the co-founder of OANDA. The company is based on an innovative business model that allows it to offer its clients unique services with 0 fees and truly human support, no bots!
