World’s Top 5 Cryptocurrency Exchanges With The Lowest Fees
No one likes paying fees right? It was one of the most appealing reasons to get into cryptocurrency personally and I think it is a driving factor for a lot of people. I was looking at some of my bank fees the other day and I can’t believe that they charge me $15 a month just to hold my money!!! Is that crazy to anyone else? They are holding my funds, making money off of the investment, and giving almost nothing back in interest. Regardless of who you bank with, you will run into some fees. The same can be said about crypto, but the fees are generally lower. I put together my top 5 exchanges with the lowest fees for 2017. I have traded on all of these and I know they are solid platforms.
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Lowest Fees / Trusted Exchanges:
BitMart Exchange— BitMart is a cryptocurrency exchange that offers unique features like decentralized trading, futures contract trading, and spot trading across all major cryptocurrencies. BitMart is charging 0% trading fees. Currently, there are 18 trading pairs available now. Some of them are: BMX/ETH, XLM/ETH, MOBI/ETH. More coins and tokens will be listed soon.
CEX.io — The UK based CEX.io makes the list because while most of the exchanges here have a standard fee of 0.25%, CEX.io only charges 0.20% per trade! That combined with a solid user interface make it a winner in my book.
Poloniex — One of the most popular exchanges, Poloniex offers a ton of coins to trade and is built on rock solid technology. They have a 0.25% taker & 0.15% maker fee. This is the only exchange out of my top 5 I don’t have any experience trading on though.
Bittrex — Another big US player in the exchange market is the Las Vegas based Bittrex. They have an across-the-board 0.25% fee for trading and do a ton of volume.
Binance — Binance is a China-based cryptocurrency exchange that gives users access to a robust set of trading tools, charts and security features. Following a successful initial coin offering (ICO), Binance began live trading in July 2017.
Downloading the Binance mobile app or creating an account online is completely free. Making deposits to Binance in any supported currency is also free. You may incur a fee when withdrawing funds from Binance, although fees vary depending on the currency.
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When trading on Binance, you will be charged a 0.1% fee on each trade. Binance has issued its own token, BNB, which can be used to pay any kind of fees incurred on the exchange. Using the BNB token reduces transaction fees on trades by a specified amount: 50% during the first year, 25% during the second year and so forth. Because the BNB token is tradable on the exchange, its value fluctuates.