What could be better than zero fee trading?
Cryptocurrency exchanges have long been criticized for charging exorbitant trading fees on every transaction. This has caused the zero commission business model to gain in popularity. So, what could be better than zero commission fee trading? A cryptocurrency exchange with no hidden fees and rebates for market makers!
If you’re a high-volume trader, transaction fees may eat away at your profits. Cryptocurrency exchanges either have a flat fee schedule or adjust fee rates depending on trading volume. In the latter case, the more you trade, the lower your commission rate becomes.
How much is it going to cost you to use the exchange?
When you’re ready to buy or sell digital currency through an exchange, you’ll need to consider the fees that will apply to your transactions, deposit and withdrawals.
Trading fees
Trading fees are expressed as a percentage of the total value of your transaction.
Some exchanges will impose a flat fee, for example, 0.2% of the transaction value, on all trades. However, many exchanges split their trading fees into two separate categories:
Maker fees
A Market Maker is someone who provides liquidity to the market by placing limit orders (buy or sell) on the order books, essentially helping to “make the market.”
Because market makers add liquidity to the order book, some exchanges will offer them fee rebates when trading. For example, market makers on Xena Exchange receive a 0.03% rebate on their trades.
Taker fees
A Market Taker is someone who places an order (buy or sell) at the market price, which immediately gets filled. Because they are taking liquidity off the market, their fees are usually higher than maker fees.
Currently all Xena Exchange clients are offered the lowest commissions for market taker trades, at 0.03%.
Example with maker’s rebate and taker’s fee:
Maker rebate of 0.03% on $5,000 = $1.50 rebate
Taker fee of 0.03% on $5,000 = $1.50 fee
Deposit and withdrawal fees
While many exchanges won’t charge a fee to transfer funds into your account (deposit fee), some will. However, it’s worth pointing out that the amount charged may vary depending on the payment method you choose or the currency you deposit.
Once you’ve acquired the coins and tokens you want, you’ll most likely want to transfer them off the exchange and into a private wallet. However, when you do so, you’ll almost always be hit with a withdrawal fee.
How much does it cost to deposit, trade and withdraw funds from a crypto exchanges?
Check out the table below for a comprehensive overview of exchange fees on some of the most well-known cryptocurrency exchanges:
One of the biggest issues for trading cryptocurrencies is expensive fees. Don’t close your eyes to high commissions! Save money by using Xena Exchange.
Click here to open your account right now!
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Website: https://xena.exchange/
