Wgat Cryptocurrency Exchange Has Lowest Fees

Wgat cryptocurrency exchange has lowest fees

Exchanging currencies, whether crypto to crypto, fiat to cryptocurrencies or vice-versa, is now easy as never before.

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When selecting the exchange to be used in the crypto space, the options are endless. However, there are some certain characteristics needed to be considered before going ahead with the selection.

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One of those very important features is the Trading fees.

Bitcoin's price isn't the only thing soaring to big levels.

According to data by BitInfoCharts, some traders are currently paying $28 on average to make transactions using the digital currency.

Wgat cryptocurrency exchange has lowest fees

Users of cryptocurrency exchanges like Coinbase incur siuch transaction fees when transferring money to an external bitcoin address.

While the increasing Bitcoin transaction fees are proving to be profitable for miners as a reward for solving the complex cryptographic puzzles in adding transactions to the blockchain, traders have been finding it difficult to cope with the unbearable steady increase in transaction fees

Navigating the fees issue is not simple and doing the comparison takes time.

That is why we’ve compiled this list to contain  carefully selected Crypto-exchanges with the most affordable fees.

1.

Binance

Binance is a popular Chinese cryptocurrency exchange, which is popular for its crypto to crypto exchange services.

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While the company is still fairly new on the market, it has managed to gain a lot of popularity, thanks to its impressive low trading fees. Currently, Binance has a 0.1% trade fee. Ultimately, the Binance tokens (BNB) can be used to reduce fees for trade costs and commissions and 50% of the trading fees can be reduced when trading fees are paid in terms of Binance tokens.

In addition to charging fees for executing cryptocurrency trades, Binance also charges a fee for making withdrawals out of their exchange, and there's a minimum amount needed to be met or exceeded before Binance allows that transfer.

Which Cryptocurrency Exchanges Have the Lowest Fees?

Both the minimum amount and fees vary from coin to coin. As an example, here's the minimum withdrawal amounts and fees for the four major cryptocurrencies that you can transfer to Coinbase:

  • Bitcoin: 0.002 BTC minimum withdrawal, a transaction fee of 0.0005 BTC
  • Bitcoin Cash: 0.002 BCC minimum withdrawal, a transaction fee of 0.001 BCC
  • Ethereum: 0.1 ETCH minimum withdrawal, a transaction fee of 0.01 ETH
  • Litecoin: 0.02 minimum withdrawal, a transaction fee of 0.01 LTC

It's worth noting that the network fees associated with blockchain transfers are included in Binance's withdrawal fees, regardless of digital currency.

Withdrawal fees are subject to change due to blockchain conditions.

Wgat cryptocurrency exchange has lowest fees

It is recommended to check out Binance's full list of available cryptocurrencies and their fees to stay up to date, as they can suddenly change due to network congestion or downtime.

Click here to start trading on Binance

2.

Bitfinex

Bitfinex charges a bit more than Binance.

The 5 Cryptocurrency Exchanges With the Lowest Fees

The exchange charges a constant 0.25% for both taker and maker trades.

Bitfinex has no deposit fee, but there’s a withdrawal fee that varies from coin to coin.

Bitfinex has a tiered fee structure. Trading fees range from 0% to 0.2% depending on your trade volume over the previous 30 days, and whether you’re paying maker fees or taker fees.

Wgat cryptocurrency exchange has lowest fees

All deposits are free, except bank wires which are charged at the greater of either 0.1% of the deposit amount or US$20.

Withdrawals are also subject to a fee depending on the currency being withdrawn, or the transfer type.

The below table summarizes the trading fee structure:

30-day trade volume (in USD equivalent)Maker FeesTaker Fees
$0 or more0.1%0.2%
$500,000 or more0.08%0.2%
$2.5 million or more0.06%0.2%
$5 million or more0.04%0.2%
$7.5 million or more0.02%0.2%
$10 million or more0%0.18%
$15 million or more0%0.16%
$20 million or more0%0.14%
$25 million or more0%0.12%
$30 million or more0%0.1%

 

Maker fees: These are charged for placing a buy limit order under the ticker price, or a sell limit order above the ticker price.

Orders placed which hit a hidden order will always be charged the maker fee.

Taker fees: These are charged for placing an order that is executed against a listing in the order book.

2. Bitfinex

Hidden orders are always charged the taker fee.

The full list of Bitfinex withdrawal fees can be found below:

Currency Withdrawal Fee
Bitcoin0.0005 BTC
Bitcoin Cash0.0005 BCH
Ethereum0.01 ETH
IotaFree
Bitcoin GoldFree
Litecoin0.001 LTC
EOS0.1 EOS
Ethereum Classic0.01 ETC
Dash0.01 DSH
NeoFree
Zcash0.001 ZEC
Monero0.04 XMR
Ripple0.02 XRP
OmiseGO0.1 OMG
Santiment0.1 SAN
Metaverse0.01 ETP
Streamr1.0 DATA
Qtum0.01 QTM
Eidoo0.5 EDO
Aventus0.5 AVT
Tether5.0 USD
Bank wireThe greater of 0.1% or US$20
Express bank wireThe greater of 1% or US$20

 

3.

Kucoin

KuCoin is another exchange with considerable liquidity on its platform for many cryptocurrencies. Kucoin aims to always offer very low fees, both for trading and withdrawals, making it affordable to use this exchange. There is no fee to make a deposit, apart from this benefit, their fee structure of trading is rather cheap with only 0.1% as the trading fees, based on the asset you purchase.

The fees for a withdrawal depend on the cryptocurrency in question, but some are free from fees, including GAS and NEO. Others have incredibly low fees, such as BTC at just 0.0005, LTC at just 0.001, and ETH at just 0.01.

It is important to note that almost ninety percent of the total trading fees are returned to users in one way or another, with Kucoin retaining only 10 percent of trading service fees.

1. Binance

KCS holders are rewarded for holding KCS tokens and get 50% of the trading fees of KuCoin exchange daily in reward as KuCoin bonus, and they also have additional 40% share via the Invitation Bonus.

4.

GDAX

GDAX is one of the cheapest and easiest options if you’re looking to purchase crypto directly with fiat.

While GDAX only focuses on the big 3 (Bitcoin, Ethereum, Litecoin), the fees are a standard 0.25% taker & 0% maker type structure.

Wgat cryptocurrency exchange has lowest fees

One very important advantage of GDAX is that it is connected to Coinbase which gives a great experience in the transfer of funds to an exchange account with no fee at all.

GDAX does not charge for deposits or withdrawals.

With an existing Coinbase account, traders can automatically link it with GDAX. The exchange charges 0% for maker trades, 0.25% for Bitcoin taker trades, and 0.30% for Litecoin and Ethereum taker trades.

PRICING TIERTAKER FEEMAKER FEE
$0m – $10m0.30 %0 %
$10m – $100m0.20 %0 %
$100m+0.10 %0 %

 

5.

CEX.io

CEX.io allows you to buy Bitcoins using your credit card, a wire transfer or a SEPA transfer (if you live in the EU). However, CEX.io transactions work a bit different than other Bitcoin exchanges, they are based on Fill-or-Kill orders (also known as FOK).

One of the biggest complaints users have about CEX.io is the number of fees and “hidden charges” they take.

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CEX.io takes a 7% fee for the service which is charged from the fiat currency you pay. So, if you buy $1000 worth of Bitcoins you’ll get only $930 worth. This means that the high want to do a direct purchase with CEX.io.

The exchange also supplies trading services in which different fees will apply. In order to trade you’ll need to fund your CEX.io account with either a bank account (no commission on CEX.io’s part) exchange rate you see on CEX.io already includes the service fee within it, and no other fees will apply.

What exchanges have the lowest fees?

However,

To keep the connection between the trading volume and the charges imposed on the users. Cex.io introduces a system that makes sure the more you trade over 30 days, the smaller fees you pay for the completed orders.

For this reason, as at December 13, 2017, there has been a change in the fee structure of the exchange. The summary of the fee structure is as given below:

Trade Volume (30 days), BTCTaker feeMaker fee
≤ 50.25%0.16%
≤ 300.23%0.15%
≤ 500.21%0.13%
≤ 1000.20%0.12%
≤ 2000.18%0.10%
≤ 10000.15%0.08%
≤ 30000.13%0.04%
≤ 60000.11%0.00%
> 60000.10%0.00%

 

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