Make your crypto transactions count with the best cryptocurrency exchanges with the lowest fees. This list has you covered – we’ve rounded up the top 10 exchanges with competitive prices.
“I am very excited about the prospect of using cryptocurrency, not just as a money equivalent, but using it as a way to earn something as a result of doing some type of work.” William Mougayar
Cryptocurrency exchanges are the platforms that enable users to trade digital currencies for other assets, such as fiat currencies or other digital currencies. Cryptocurrency exchanges have taken the world by storm in recent years, offering a convenient and secure way to buy and sell digital assets.
With the increasing popularity of cryptocurrencies, the number of exchanges has also grown exponentially in recent years, hence the need to choose an exchange with the lowest fees and the best features.
According to a recent report, over $1.88 trillion was traded in cryptocurrency in 2022 and this number is projected to increase in the coming years. To help you get the best deal, we’ve compiled a list of the 10 best cryptocurrency exchanges with the lowest fees in 2023. From exchanges with simple, user-friendly interfaces to ones that offer advanced trading tools, these exchanges offer great value for your money.
Does it Matter which Crypto Exchange I Use?
Yes, it does matter which crypto exchange you use. Different crypto exchanges offer different fees, features, services, and security levels, so it’s important to choose one that meets your specific needs. Some exchanges offer low trading fees, others offer more advanced trading tools and features, and some even offer cryptocurrency-backed loans and other financial services.
Be sure to research each exchange before deciding which one to use. No matter what you’re looking for in a digital asset trading platform, there is an option available to fit your needs, whether that be a large selection of assets, low fees, or a great mobile trading experience.
Different Types of Crypto Exchange Fees
Crypto exchanges come with a variety of fees associated with trading and other activities on their platforms. The different types of crypto exchange fees include maker fees, taker fees, deposit fees, withdrawal fees, and listing fees.
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Understanding the various fees is essential to making informed trading decisions and managing your finances as a crypto investor.
- Maker Fees
Crypto exchanges charge maker fees for users who provide liquidity to their order books. Maker fees are usually lower than taker fees, which are charged to those who take liquidity from the order books. Maker fees incentivize the influx of new orders and help maintain an orderly market.
- Taker/Trading Fees
Crypto exchanges often charge taker fees when users make trades on their platform. Taker fees are typically a percentage of the total value of the trade and are charged to the person who “takes” the trade by completing an order from the order book. The amount of the fee can vary from exchange to exchange and is usually based on the user’s 30-day trading volume.
- Deposit Fees
Some exchanges may charge a fee for depositing funds into your account. These fees vary depending on the type of currency deposited but are usually a flat fee or a percentage of the total amount deposited. The fees also depend on the exchange and can vary from platform to platform. It’s important to understand the deposit fees before committing to a crypto exchange to ensure you’re getting the best deal.
- Withdrawal Fees
Withdrawal fees are usually a small percentage of the amount withdrawn, generally ranging from 0.001 to 0.005 BTC. However, some exchanges may charge higher withdrawal fees depending on the type of cryptocurrency involved and the amount that is being withdrawn. Be sure to check the withdrawal fees for any exchange before making a withdrawal to ensure that you are getting the best rate available.
- Exchange Rate Fees
Depending on the currency you are trading, you may incur an exchange rate fee when buying or selling cryptocurrencies.
- Network/Gas Fees
Network fees are the fees charged by networks like Bitcoin or Ethereum for processing transactions. These fees are not charged by the exchange, but they are deducted from the amount of cryptocurrency you are trading.
- Inactivity Fees
Some exchanges may charge an inactivity fee if you do not make any trades within a certain period.
Some of the Best Cryptocurrency Exchanges with Low Trading Fees
The desire of some crypto newbies while venturing into crypto is usually centered on finding crypto exchanges with 0 (zero) fees. However, cryptocurrency exchanges with low trading fees are easier to come by in this industry. And crypto exchanges, as you know already, provide cryptocurrency investors with the opportunity to purchase digital assets at a lower cost than traditional exchanges. Here, we present you a list of the best crypto trading platform with low fees:
- TransferXO: The Most Suitable Option for Peer-to-Peer (P2P) Trading
TransferXO is a decentralized peer-to-peer (P2P) crypto exchange that makes it easy to buy and sell cryptocurrency. The platform is recognized for its low fees and a broad selection of cryptocurrencies, which include Bitcoin, Ethereum, Litecoin, and a variety of other altcoins. TransferXO allows users to switch between cryptocurrencies with ease and offers a market capitalization of a private company, a 0.5% market share, and an average daily trading volume of $152,012.
TransferXO’s fees are also extremely competitive, with a maker fee of 0.75% and a taker fee of 0%. There is also a deposit fee of 0.0%, a withdrawal fee of 0.0%, and volume-based pricing of 0%. The minimum transaction value is 0.001 BTC, and there are currently over 100,000 blockchain wallet users.
TransferXO is a great option for anyone looking to buy and sell cryptocurrency quickly, securely, and cheaply. Its low fees, broad selection of cryptocurrencies, and ease of use make it a great choice for both experienced and novice crypto traders.
- Binance: Your Gateway to the Cryptocurrency World
Binance is a leading cryptocurrency exchange with low fees and a wide selection of digital assets. It has some of the lowest maker and taker fees in the market with 0.1% and 0.2%, respectively. It also offers futures and options trading with up to 125x leverage, depending on the asset.
With an average daily trading volume of over $76 billion, Binance is one of the most popular exchanges in the world. It supports over 500 cryptocurrencies and provides users with a wide range of features.
Binance has a market capitalization of over $17 billion, making it the largest exchange by market share with a 17.55% share. It has also gained the trust of 28.5 million blockchain wallet users, who can use Binance Lite or Binance Pro to buy crypto with their debit cards. Binance has one of the lowest cryptocurrency fees in the market, with Maker Fee and Taker Fee both set at 0.1% and F&O at 0.02%. The withdrawal fees are 3.5%, and volume-based pricing is set at $0.0007007 per (VOL/USD). The minimum transaction value is $10.
Binance is a secure, user-friendly platform that guides beginner crypto traders around the platform. With its low fees, extensive selection of digital assets, and wide range of features, Binance is one of the best exchanges in the world.
- Uphold: The Most User-friendly and Transparent Digital Asset Platform
Uphold is a digital asset platform that provides users with a secure and easy way to access, store, and send digital assets. The platform is connected to 26 underlying exchanges that ensure that users can find the best available token prices. It also allows users to stake dozens of cryptocurrencies with high APYs and provides a free debit card that offers cashback in XRP.
Users can also set up automatic, recurring transactions for dollar-cost averaging, and can create up to 50 simultaneous limit orders of any size without needing to fund their account upfront. Funds can also be sent to any other Uphold account using just an email address.
Uphold has a maker fee of 0.8%, and a taker fee of 1.25%, and does not have any fees for deposits or withdrawals, volume-based pricing, or minimum transaction value. The platform has a large user base of over 10 million blockchain wallet users and does not disclose its market share or global cryptocurrencies.
- Coinbase: The Most Trusted Cryptocurrency Exchange
Coinbase is a leading cryptocurrency exchange platform that offers a wide range of features to its users. It is known for its user-friendly interface, low transaction fees, and wide selection of cryptocurrencies to choose from.
Coinbase is one of the most popular and well-known cryptocurrency exchanges in the world. With 56 million blockchain wallet users and a market capitalization of $34.23 billion, Coinbase has a 53% global market share and facilitates an average of $2.15 billion in daily crypto transactions.
Coinbase has a simple and intuitive platform, making it easy for users to convert cryptocurrencies with just one click. It also has a low transaction fee with a maker fee of 0.4%, a taker fee of 0.6%, and no F&O or deposit fees. In addition, Coinbase offers volume-based pricing with $0.000701 per (VOL/USD) and a minimum transaction value of $2. With 96 different cryptocurrencies available, Coinbase is one of the most popular and secure exchanges for crypto traders.
- Kraken – The Crypto Exchange for Advanced Traders
Kraken is a cryptocurrency trading exchange that offers a range of tools and resources for novice and experienced traders alike. It supports over 120+ cryptocurrencies, and users can start trading with as little as $10. In addition, the platform provides helpful tutorials to guide beginners through the process of learning and trading bitcoin and other cryptocurrencies. The mobile app enables users to easily track their investments, and deposits and withdrawals are instant. Kraken also works hard to maintain legal compliance and banking relationships, and customer support is available 24/7.
Kraken remains a leading global cryptocurrency exchange platform with a market capitalization of $4 billion and a daily trading volume of $333.86 million. It supports more than 120 different cryptocurrencies and has over 6 million blockchain wallet users worldwide. Kraken is renowned for its high level of security and 24/7 customer support.
Kraken is a great choice for retail investors who are looking to hold their assets or trade actively. Its maker and taker fees are 0.02% and 0.05% respectively, while its F&O fees are 0.01%. There are no deposit and withdrawal fees, and Kraken also provides volume-based pricing with no minimum transaction value. All of these features make Kraken one of the most cost-efficient exchanges available.
- PrimeXBT: Perfect Choice for Anonymous Exchange with no KYC Verification.
PrimeXBT is a leading cryptocurrency exchange that provides traders with access to a wide range of digital assets, offering a secure, reliable, and intuitive trading platform. The exchange offers advanced tools and features including leverage, copy trading, and low trading fees, making it suitable for both experienced and novice traders.
PrimeXBT also provides users with access to a wide range of global cryptocurrencies, with more than 100 coins available for trading. The exchange also features a fixed deposit option, offering users up to 14% interest. PrimeXBT has a maker fee of 0.2%, a taker fee of 0.4%, and no fees for F&O. There is no deposit fee, and withdrawals are subject to a fee of 0.0005 BTC. PrimeXBT has an average daily trading volume of over 10 million blockchain wallet users.
- Changelly: The Best Aggregator with Fast, Secure Transactions and the Most Competitive Rates.
Changelly is an instant cryptocurrency exchange service that has been in the market for over 7 years. It is the number one choice among crypto users who need to make quick swaps. Changelly offers over 400 crypto assets and has a top-notch security system with 24/7 customer support.
The intuitive interface makes it suitable for both beginners and experienced crypto enthusiasts. With no maker or taker fees, no deposit or withdrawal fees, and volume-based pricing, it is the perfect platform for making fast and safe crypto transactions.
Changelly’s average daily trading volume is over $1M, and it has over 5M blockchain wallet users. It is the perfect platform for anyone looking to buy, sell, and exchange cryptocurrencies at the best prices.
- Robinhood: A Single Platform for Trading Cryptocurrencies, Stocks, and Other Instruments.
Robinhood is an investment platform that makes it easy to buy and sell cryptocurrency. With its wide selection of cryptocurrencies, competitive fees, and user-friendly interface, Robinhood is an excellent choice for novice and experienced traders. The platform offers low maker and taker fees of 0.4%, with no deposit or withdrawal fees. In addition, Robinhood has a minimum transaction value of just $1, making it a great option for those who don’t have a lot of money to invest.
With a market capitalization of $9.58B and a market share of 17%, Robinhood is a major player in the cryptocurrency trading space. It also has an impressive average daily trading volume of $16 billion and supports over 10 global cryptocurrencies. Robinhood also has millions of blockchain wallet users, allowing users to store their digital assets securely.
Robinhood is an excellent option for those looking to invest in cryptocurrency. With its low fees and wide selection of cryptocurrencies, it is a great platform for new and experienced traders.
- Trade Station: The Best Platform for Crypto Futures and Options Trading
Trade Station is an online broker offering commission-free trading of cryptocurrencies and stocks. It offers a wide variety of services, including cryptocurrency trading, options trading, and stock trading.
With Trade Station, users can easily place trades and manage their portfolios on the go. It has a user-friendly interface and offers a broad selection of cryptos for trading. The platform does not charge any fees for deposits or withdrawals, and it has a low minimum transaction value of $1.
Trade Station also offers volume-based pricing, so those who trade larger amounts will benefit from lower fees. In terms of market capitalization, Trade Station has a market share of 0.9%, with an average crypto daily trading volume of $50 million. It supports 15 global cryptocurrencies and has 165,811 blockchain wallet users.
- Crypto.com
Crypto.com is a user-friendly crypto trading platform designed to make crypto trading accessible and efficient for traders of all levels. It offers a wide range of features, including advanced trading tools like futures and NFTs, portfolio diversification, and rewards through its reward chain.
Crypto.com has a high market capitalization of $19 billion and a market share of 2.33%, making it one of the largest in the industry. It also boasts a daily trading volume of $1.04 billion and supports over 100 global cryptocurrencies. For traders, trading fees are low at 0.4% for maker and taker fees, while F&O fees are set at 0.07%. There are also no deposit and withdrawal fees, and the minimum transaction value is $1.
Crypto.com is also the home of 10 million blockchain wallet users, making it one of the best crypto exchanges in the world and a great choice for those looking to get started in the crypto world.
How to Buy Crypto on a Crypto Exchange Platform?
To buy crypto on an exchange, simply follow these steps:
Step 1: Create an Account
Start by creating an account on your preferred cryptocurrency exchange platform, such as TransferXO.
NB: A popup to confirm your identity and personal information will appear after creating your account. You must comply with the right process.
Step 2: Set Up Your Wallet
Once your account is created, you will need to set up a cryptocurrency wallet associated with your account. This is where you will store your purchased cryptocurrency.
Step 3: Make a Deposit
You will then need to deposit the currency you want to use to purchase the cryptocurrency. It can be either fiat or another cryptocurrency.
Conclusion
Cryptocurrency exchanges are integral for the trading and exchanging of digital assets. Finding one with the lowest fees is important for a successful and profitable trading experience.
There are several cryptocurrency exchanges available in 2023 with low fees and great user experiences. Among the top 10 are TransferXO, Binance, Uphold, Kraken, PrimeXBT, Changelly, Robinhood, Trade Station, Crypto.com, and CoinBase. Each of these exchanges offers great user experiences and low fees that make them ideal for trading cryptocurrencies.
As you get started on your way to start making it big with the crypto exchanges, endeavour to take the time to compare and research each of the exchanges to find the one that best fits your needs and provides the lowest fees.