If you’re focused on getting the best deal when buying bitcoin and crypto, you’ve come to the right place. In this article, we review the top crypto exchanges with the lowest bitcoin fees. We’ll also discuss some other considerations to get the lowest fees for your bitcoin or crypto purchase.
In summary:
- Kraken has comparatively low fees, a high transactional limit, and extensive daily volumes.
- Coinbase is a trusted platform, with an easy user interface and multiple crypto options.
- CEX.io has commission options and is operated in 99% of countries globally.
- Bittrex and Bitstamp have flat percentages and an easy to use fee structure.
The full rankings and platform breakouts are below.
| Exchange | Deposit Fee | Transaction Fee | Withdrawal Fee | Spread | Credit Card Fee* |
|---|---|---|---|---|---|
| Coinbase | No | flat 2.49% | 2.49% | 0.5% to 4.5% | 3.99% |
| Coinmama | No | 2.9-3.9% | No | 2.86% – 3.81% | 5% |
| CEX.io | No | 2.9% | 3% | variable | 2.9% |
| BitPanda | No | 1.49% | No | variable | 2% |
| Bitstamp | No | 0.50% | No | No | 5% |
| Kraken | No | 0.26% | No | No | 3.75% |
| Bittrex | No | 0.35% | No | No | 2.5% |
| Changelly | No | 0.25% on all crypto-to-crypto trades | No | No | 5% |
| Gemini | No | 1.49% or flat fee $0.99, $1.49, $1.99 & $2.99 | No | 0.5% – 3.99% | 3.49% |
| Localbitcoins | only on peer-to-peer bitcoin marketplace 1% |
* Additional fees may be charged by banks and credit card companies.
**There are no fees with Localbitcoins. Spreads are determined by vendor offers and vary for in-person cash payments or bank deposits. Fees on credit card and PayPal transactions are extra.
Fees: There are three types of fees to consider: deposit fees, transaction fees, and withdrawal fees. Each is different and, when combined, will affect the total amount of bitcoin or crypto you receive.
Exchange rate/spread: While some exchanges may look inexpensive, with very low fees, they hide their fees in larger spreads, making you pay more for the bitcoin you’re buying or receive less when selling.
Country support: If the exchange doesn’t accept customers from your country, it won’t be helpful to you.
Buying limits: Most exchanges limit how much you can buy and sell. These limits are based on either your time with the exchange or, more typically, how much personal information you’ve given them to satisfy KYC and AML regulations. (Learn how to buy bitcoin without ID here.)
Accepted payment methods: Usually, the most cost-effective payment method is a bank or wire transfer. Credit card payments often incur additional fees.
Exchange reputation: Any exchange that’s been in business for some time will have negative reviews, but those should be minimal. Overall, the cryptocurrency community should see the exchange as trustworthy. Excellent support is another hallmark of a good exchange.
Coinbase
If you are new to crypto, Coinbase provides a user-friendly and reliable onboarding experience. Other cryptocurrency exchanges have higher bitcoin fees and sometimes a more confusing fee structure than Coinbase. No deposit is required, but all purchases, including ATM withdrawals, are subject to a flat 2.4% transaction charge. Extra charges are likely to be incurred.
Coinbase charges a spread of roughly 0.5%, priced per market volatility. And this could go up to 4.5%, depending on the payment method, cryptocurrency, transaction amount, and platform[1] . Coinbase usually works for bitcoin traders searching for ease. Investors, looking to exchange one cryptocurrency for another quickly.
Advantages: Simple interface and instructional resource for beginners. More than 50 cryptocurrencies supported. Strong security.
Challenges: There is a relatively high fee structure compared to other exchanges, there is a limit on trading types, and the framework tracks your cryptocurrency purchases.
Coinmama
Coinmama offers higher bitcoin exchange fees than some other exchanges, but these prices decrease with the volume of cryptocurrency you buy. Fees begin at 2.90% but can vary significantly depending on your form of payment and other factors. You will have to pay an additional 5% fee on top of Coinmama’s rate to use your card. Purchasing cryptocurrency by SEPA transfer is less expensive than trading cryptocurrency via credit card. When you buy crypto at Coinmama by SEPA transfer, the total charge is generally 5.5%. There is also a commission bitcoin fee of up to 3.81% on cryptocurrency transactions and up to 0.9% on bitcoin sales. Fees for users in the top loyalty program drop to 2.86 %. Limits are set by Coinmama depending on cash, credit card, and verification status.
Advantages: No minimum to get started. Several payment options available. User-friendly platform with simple-to-follow instructions. Bitcoin may be bought and sold instantly, and security protection is excellent.
Challenges: Coinmama has higher fees than other cryptocurrency exchanges. There are no interest-earning choices. It is not available in certain countries such as Cuba, Crimea, Iran, Israel, Lebanon, North Korea, Palestinian Territories, South Sudan, Sudan, Syria, Somalia, as well as some states in the US like Hawaii and New York. It is also not available in US Territories like American Samoa, Guam, Northern Mariana Islands, Puerto Rico, United States Minor Outlying Islands, Virgin Islands. It also has no built-in wallet or mobile app.
CEX.io
While a convenient method of purchasing bitcoin, it is also one of the costliest. Overall, the 2.99% transaction fee combined with CEX.io’s 7% trading fee equals around 10%. You must first fund your CEX.io account with either a bank transfer or a credit card if you want to trade. Depending on your currency and payment method, withdrawal costs go up to 3%, plus service charges of up to $25 may apply. The maker-taker system controls transaction fees. It means that the person who placed the order (the maker) typically pays less than the person who uses it (the taker). A user will pay around 0.16% to 0.25% at most, depending on the side of the transaction. Also, a 0.5% fee is charged for margin trading.
Advantages: Provides a variety of trading pairs and fiat currencies. Low fees and margin trading are available. Simple to use and explore. Good track record of security.
Challenges: Using a credit or debit card to purchase using CEX.io’s buy/sell platform will result in higher fees.
BitPanda
There are bitcoin exchange fees when you purchase or sell bitcoin on BitPanda, but it may not be clearly indicated. Because Bitpanda fees are already reflected in the price in real time, it makes them almost undetectable to the user. Buyers are charged 1.49%, while sellers are charged 1.29%. The withdrawal fee is usually fixed, independent of the number of cryptocurrency units withdrawn and varies with each cryptocurrency.
Advantages: Safety, an easy-to-use UI, and a high reputation based on positive feedback from over a million customers. Supports multiple fiat currencies, as well as a wide range of payment and withdrawal options.
Challenges: BitPanda has high fees and extra expenses on payment methods.
Bitstamp
Bitstamp, unlike other cryptocurrency exchanges, has a single flat fee. It simplifies the pricing structure for people new to crypto investment. Those who use the quick buy will benefit from industry-low rates if they fund their purchases using ACH rather than credit or debit. Most other exchanges charge a fee for orders submitted through their fast interface.
However, BitStamp adds a 5% charge to all card purchases. Debit card and credit card purchases on cryptocurrency exchanges frequently include a fee. Therefore, it is preferable to transfer funds from your bank account using ACH.
Bitstamp’s prices may be competitive for many who use the immediate buying platform. However, the product’s fees are still much higher for traders. Any credit card or debit card purchases will include a 5% fee, which does not include any costs levied to you separately by your bank or credit card provider.
Advantages: Low fees and liquidity choices, sophisticated trading platform, simpler functionality, and a large number of digital assets available for trade. Good safety record..
Challenges: There are just two currencies available with a peak rate of less than 6% APR. Other exchanges provide additional staking possibilities and greater APRs. Bitstamp does not provide margin trading or financing.
Kraken
With Kraken, it all depends on what you’re buying and selling, as the price and fees differ. Prices are subject to spread fees in both cases. The cost for most cryptocurrencies is 1.5% for quick purchases, though that differs for stablecoins using US dollars. Additional costs are determined by how you pay for the purchase. The cost of using a bank account ranges from 0.5% to over 3.75%, whether using a debit card, credit card, or digital wallet. Kraken fees range from 0% to 0.26% per transaction, with ACH purchases costing 0.5% + 0.9% or 1.5%.
Advantages: Advanced platform for experienced users, high-security precautions, extremely safe to use, a large selection, and fair prices.
Challenges: Complex user interface.
Bittrex
Bittrex’s maker-taker fee structure is simple and based on the 30-day trading volume. These prices are in addition to an unannounced offer spread that fluctuates with market circumstances. Although these are not the lowest prices accessible on non-commission-free exchanges, they are on the lower end. On Bittrex, there are no fees for crypto deposits. However, crypto withdrawals may suffer network fees specific to each currency. When making a withdrawal, you may see them in the app. On Bittrex, deposits and withdrawals in fiat currency are free.
Advantages: Regulated in some jurisdictions, only takes minimum personal information for verification, and verification procedure is faster than other exchanges. Good track record of safety. Enables daily withdrawals of up to $3,000, and fee structure is simple to calculate.
Challenges: It does not offer margin trading.
Changelly
Changelly is a non-custodial cryptocurrency exchange that offers almost 200 different cryptocurrencies. The company is quite open about its fees, collecting a flat 0.25% across all crypto-to-crypto trades. There are no explicit deposit costs, but consumers should consider the bitcoin transaction charge when completing an exchange. For completing its portion of the trade, Changelly pays the transaction charge.
Advantages: The service is simple to use and safe, and it allows you to exchange bitcoins for a reasonable fee.
Challenges: There is no cryptocurrency trading. Changelly determines cryptocurrency pricing. Not regulated for operating in the United States.
Gemini
The minimum trading quantities on Gemini vary depending on the type of cryptocurrency you wish to exchange. The costs charged by Gemini are slightly greater than those charged by several other cryptocurrency exchanges. They can range from 1% to 1.49% based on the platform you’re using. The price for using a debit card for purchases is 3.49%, plus extra charges are possible.
Gemini charges a fixed cost of 0.5% over the current trading price for mobile and web app customers (dubbed a “convenience fee” by Gemini). It also charges a transaction fee based on the amount of the transaction. It’s a fixed fee for a trade of $200 with a 1.49% transaction fee on trades over $200.
Advantages: Diverse range of cryptocurrencies. Innovative features. Excellent security measures. User-friendly platform. Legally compliant and regulated in the U.S..
Challenges: Gemini has few payment methods and restricted demographics (limited presence globally).
Localbitcoins
This is a peer-to-peer bitcoin marketplace that charges nothing but a low 1% fee. In addition, Localbitcoins provides escrow protection for each trade. The complete transaction activity takes only a few minutes. You can create an account or receive bitcoins in your wallet. Localbitcoins accepts a variety of payment options.
Advantage: Easy and speedy online transactions, supports multiple fiat currencies, no restrictions on buy/sell volumes, and comparatively minimal trading fees.
Challenges: Because it’s peer-to-peer, you have fewer controls over the people you’ll be meeting to buy and sell bitcoin, which may mean increased risk of hacking and black market transactions.
Our Perspective and Tips
The best crypto exchanges to use are those that provide an extensive range of cryptocurrencies for trading, cheap credit and debit card fees, and quick order processing. Choose from those who offer stock, forex, CFDs, and other assets on the same platform, or solely those that specialize in crypto trading, depending on your preferences.
Crypto traders place a premium on security and safety. If you’re working with group accounts, look for crypto exchanges that support multi-signature. A multi-signature wallet (“multi-sig”) is a cryptocurrency wallet that needs the use of two or more private keys to sign and send transactions. In addition, 2FA (two-factor authentication) and other high-level security measures are available.
Speculative traders like exchanges that offer a wide range of analytical and research tools, as well as a wide range of charting and indicator alternatives.
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Source: https://www.bitcoinmarketjournal.com/bitcoin-fees-comparison/
