As of June 2024, there are over a thousand cryptocurrency exchanges worldwide. These platforms allow you to buy, sell, and exchange cryptocurrencies, including bitcoin and altcoins.
Be it centralized, decentralized, or hybrid, almost all cryptocurrency exchanges charge a trading fee for transactions. Finding a crypto exchange that costs the least is important for maximizing the profit.
Read on and find out what are the crypto exchanges that charge the lowest fees.
This list is created based on the latest data available as of June 2024. Each crypto exchange listed here has its unique features, advantages, and flaws.
So, read through the list thoroughly to find the one that will work best for you. Remember that the lowest trading fees may not automatically mean they can be the best platform, you should also consider other factors such as accessibility, security, credibility, and user experience, which we will also cover in this article.
What are Crypto Exchanges?
For those of you who are new to the world of cryptocurrencies, let this be a pathfinder. Crypto exchanges or cryptocurrency exchanges are any digital currency exchange (DCE) platforms that facilitate the selling, buying, and transferring of non-tangible currencies such as Bitcoin, Ethereum, and Dodge for fiat money or other digital assets.
You can consider the crypto exchanges as a normal money exchange platform but for digital currencies.
Majorly, crypto exchanges can be divided into three categories: centralized, decentralized, and hybrid. In centralized exchanges (CEXs), the transaction will be carried out through a third-party entity that both the seller and buyer trust.
Whereas, decentralized exchanges (DEXs) will allow you to trade the digital currencies directly with other users. And as the name may indicate hybrid platforms can facilitate both according to your preferences.
Most traders prefer using a centralized crypto exchange platform because of its convenience, and simplicity. However, if your primary focus is anonymity, it is best to stick with a decentralized platform.
The platforms charge a trade fee to facilitate the transaction. The fee varies depending on factors such as the trading platform, trading volume, demand, geo-location, and market conditions.
What are Crypto Exchange Fees?
When using a third-party platform to facilitate your trading, the platform will charge you a fee as a brokerage. Most platforms charge a fee for all types of cryptocurrency transactions including buying, selling, exchanging, depositing, and withdrawing.
Different exchange platforms use different methods to calculate the fees. One of the most popular fee structures is the tiered maker-and-taker fee.
In this method, the maker is considered as the one who is selling their digital currency, and the taker is the one who takes it off the market or simply the buyer. The platform charges a cut of the trade from both the seller and buyer.
However, the seller typically pays less than the buyers. The share of the trading fee varies depending on the trading volume and the market demand for the currency being traded.
However, not all platforms work like this. Some may charge a per transaction fee or a flat percentage fee. Additionally, the platform may also charge you for listing, depositing, and withdrawing.
As the world of cryptocurrency is expanding rapidly, more and more crypto exchanges are coming into the market. They offer services at different prices. Some of the most popular crypto exchanges that charge less include Kraken.
How to Minimize Cryptocurrency Exchange Fees?
Trading fees are a necessity for the seamless operation of the exchange platforms and to keep the platform free from overwhelming amounts of unnecessary transactions.
However, it can negatively affect your profitability, especially if the exchange fees are high. So, now that we know what cryptocurrency exchange is and how it charges you, let’s see some of the ways you can employ to minimize the exchange fees.
1. Compare the exchange fees
Compare the fees of exchanges and select the one that costs less. While comparing, make sure that you are choosing one that fits your trading volume and needs. You should also keep in mind that the exchange you choose should accept the fiat money or digital currency you have to offer.
2. Set limit orders
Setting limit orders in trading means that you are setting a predetermined price limit. The trade will only happen if the limit criteria are met. Using trade limits can help reduce the trading fees in a tier-based structure.
3. High-volume trades
Trading in high volumes is also helpful in lowering the overall exchange fee, especially in a tiered fee structure. The larger the volume of trade, the smaller the fees.
4. Avoid peak times
On many crypto exchanges, the fees become higher in the peak times when there is an increased demand on the market. Analyze the market closely, and choose to trade when the market is less volatile.
As you can already guess, the major aspect of lowering the crypto exchange fee is to find an exchange that costs less for trading, listing, depositing, and withdrawing.
Analyzing the price listing of several crypto exchanges, we have created a crypto exchange fees comparison list of 2024 below.
Crypto Exchange Fees Comparison 2024
You now know why it is important to compare the exchange fees of different platforms to maximize your profits.
The fee comparison will help you understand which exchanges have the lowest trading fees. The below comparison is created based on the data available as of June 2024.
| Crypto Exchange | Trading Fee | Deposit Fee | Withdrawal Fee |
| Crypto.com | 0.0% to 0.075% | 0 | USD45 |
| OKX | 0.0% to 0.07% | Varies according to the fiat currency | Varies |
| Gemini | 0.0% to 0.40%(for active traders) | 0-3.49% | USD125 |
| Kraken | 0.00% to 0.40% | CAD 1.25 + 0.25% | Varies |
| Coinbase | 0.00% to 0.60% | Varies | Varies |
| Kucoin | 0.025% to 0.1% | Free | Varies |
| ByBit | 0.015% to 0.1% | Varies according to the fiat currency | Varies |
| Binance | 0.0124% to 0.1% | Varies according to the fiat currency | Varies |
We have ranked the above list from the least amount of trading fees to the most expensive. However, this ranking does not reflect the entire quality of the service.
To determine what crypto exchanges are the best, you need to weigh in other factors such as security, acceptance of a variety of assets including digital and fiat currencies, and privacy. So, let’s examine each of these crypto exchanges in detail.
1. Crypto.com
Initially founded in Hong Kong, Crypto.com is a Singapore-based crypto exchange platform. It offers various services including digital currency trading, a DeFi (Decentralized Finance) wallet, and an NFT marketplace.
The platform now operates in about 90+ countries and accepts the trading of 350+ cryptocurrencies.
The platform has already surpassed the 100 million global users mark and continues to be one of the most preferred crypto exchange platforms.
The mobile app of the platform is one of the main aspects that make Crypto.com stand out. Unlike most of the other platforms that use a raggedy version of their web version, Crypto.com’s mobile app offers a superior user experience.
Key factors of crypto.com
- Transaction fees: 0% to 0.0075%
- Currencies accepted: 80+
- Minimum deposit: €1
- Availability of trade limits: Available
- Deposit fee: 0
- Withdrawal fee: USD 45
Pros and Cons of crypto.com
Pros
- Available in almost all countries
- Offers privacy and security
- Trusted by more than 100 million users
Cons
- It may take time to reflect transactions
- Fixed withdrawal fee
- Requires a minimum deposit of €1
2. OKX
OKX is a global cryptocurrency exchange that is ranked in the top 5 biggest crypto exchanges for its huge trade volume. Star Xu founded the platform in 2017 and it is headquartered in Seychelles.
It is boasted as one of the fastest crypto exchanges in the world. OKX offers a bunch of advanced features and analytics making it more suitable for professional traders.
The platform covers almost all fiat currencies including USD, and EUR and you can pay with Visa, MasterCard, and ApplePay credit cards.
However, the platform is not available for residents in the United States and some other parts of the world due to regulatory restrictions.
Key factors of OKX
- Transaction fee: 0.0% to 0.07%
- Currencies accepted: 350+
- Minimum Deposit: Varies
- Availability of trade limits: Available
Pros and cons of OKX
Pros
- Supports trading of more than 350 cryptocurrencies
- Trading fees are low in comparison
- Negative maker fees for the first three months (on higher volumes)
Cons
- Not available in the US and Canada
- Fiat withdrawals are difficult
- The features can overwhelm beginners
3. Gemini
Gemini is an American-based cryptocurrency exchange and developed in 2014. It also functions as a custodian bank providing post-trading services for cryptocurrency owners such as private key-protected digital wallets.
The platform focuses on safety and security and provides hot wallet insurance to protect users from unauthorized transactions due to security breaches.
Gemini offers two different platforms and payment options based on the nature of the trade. The main platform is aimed at smaller trades and costs fixed amounts while the second platform is designed for professional traders and uses a tier-based fee structure. Gemini is mostly preferred by traders who prioritize security and reliability.
Key factors of Gemini
- Transaction fee for active traders: 0% to 0.40%
- Transaction fee on the regular platform: 1.49%
- Currencies accepted: 80+
- Minimum Deposit: Varies
- Availability of trade limits: Available
Pros and cons of Gemini
Pros
- Better security and privacy
- Hot wallet insurance
- 2-step verification process
- Additional functionalities for professional traders
- Offers reward card that allows the users to shop
Cons
- Higher fees on most trades
- Staking is limited to ether and polygon for US traders
4. Kraken
Kraken is a reputed cryptocurrency exchange established in 2011. The platform is headquartered in San Francisco and it offers trading of over 200 cryptocurrencies.
In addition to Kraken’s main platform, it also offers a professional platform for advanced traders. It is a booming platform with more than 10 million active users.
The trading fee on Kraken varies according to multiple factors including the trading volume, market conditions, and trading type. The higher the trading volume, the transaction fee reduced to even 0%.
However, the payment methods are limited on the platform. Making it harder to deposit fiat money.
Key features of Kraken
- Transaction fee: 0.0% to 0.40%
- Currencies accepted: 200+
- Minimum Deposit: $1
- Availability of trade limits: Available
Pros and cons of Kraken
Pros
- Supports various cryptocurrencies
- Easy to use
- More than 10 million active users
Cons
- Higher fees on the main platform
- Not available in some US jurisdiction
- Limited payment options
5. Coinbase
Founded in 2012, Coinbase is a popular digital currency trading platform. It is a global platform that operates in more than 100 countries with no headquarters.
The platform is easy to use because of its simple and easily understandable user interface, making it the first choice for many beginners.
The platform assures insurance for hacking and fraudulent activities on the platform and can look and feel like an online banking app.
However, there are some reports of unsatisfactory customer service from the users. Additionally, there have been instances of unexpected account closures without the knowledge of the users.
Key features of Coinbase
- Transaction fee: 0.0% to 0.60%
- Currencies accepted: 200+
- Minimum Deposit: $2
- Availability of trade limits: Available
Pros and cons of Coinbase
Pros
- Beginner friendly interface
- Insurance security
- High liquidity exchange
Cons
- Higher transaction fees on small-volume trades
- Low customer ratings
- Scrutinized for unexpected account closing
6. Kucoin
KuCoin is a crypto exchange that supports the trade of over 700 digital assets including Bitcoin (BTC), and Ethereum (ETH). The platform is popular for its features such as peer-to-peer trading, spot trading, margin trading, and crypto lending capabilities.
The exchange was launched in 2019 by Gang and Tang. now it has over 30 million users, making it the top 24 ranked exchanges in terms of trade volume.
Kucoin also follows a tier-based fee structure and it ranges from 0.005% to 0.1%. While the platform is not licensed to operate in the United States, you can access it with limited features.
The data is secured using a KYC verification, and a multi-factor authentication process.
Key features of Kucoin
- Transaction fee: 0.005% to 0.1%
- Currencies accepted: 800+
- Minimum Deposit: Varies
- Availability of trade limits: Available
Pros and cons of Kucoin
Pros
- Low trading fees on high-volume trades
- Supports a large number of cryptocurrencies
- Supports peer-to-peer trading
Cons
- Limited availability in the US
- Poor user ratings
- Does not support copy trading
7. Bybit
Bybit is one of the biggest crypto exchanges by the volume of trade on the platform. The platform was introduced to the world in 2018.
The platform became popular for its KYC-free approach in the beginning. But it continues to do a high volume of trades even after enforcing KYC verification.
They have low trading fees, store the user funds in a secure offline wallet, and are protected by the platform’s triple-layer asset protection protocol.
While Bybit has secured third place in this list of crypto exchanges that charge the lowest fees, for its generous discounts on high-volume trades, the base fee goes up to 0.1%. It has over 30 million users and is available across the globe.
The Bybit supports the trade of more than 400 cryptocurrencies.
Key factors of Bybit
- Transaction fee: 0.015% to 0.1%
- Currencies accepted: 400+
- Minimum Deposit: Varies
- Availability of trade limits: Available
Pros and cons of Bybit
Pros
- Low trade fees on high trade volumes
- Accepts most of the cryptocurrencies
- User-friendly interface
- Advanced features and analytics
Cons
- Restricted in some jurisdictions
- Scrutinized for data leaks
- Dashboard may seem complicated for beginners
8. Binance
Changepeng Zhoa (CZ) and Yi He founded Binance in 2014. It is a global cryptocurrency exchange company with over 185 million users.
It operates in about 180 countries and it supports the trading of 400+ digital currencies including bitcoin (BTC), ether (ETH), and dogecoin (Doge).
The platform also has a coin of its own called BNB (Binance bitcoin) which can be used to trade and pay fees on the Binance crypto exchange platform.
Binance offers competitive trading, deposits, and withdrawal fees, which put it fourth on this list.
The transaction fee starts as little as 0.0124% to 0.1% depending on the volume of trade done in 30 days. The platform offers a 25% discount on payment through BNB.
Key factors of Binance
- Transactions fee: 0.0124% to 0.1%
- Currencies accepted: 400+
- Minimum deposit: no limit
- Availability of trade limits: Available
- Deposit fee: free
- Withdrawal fee: varies depending on the currency
Pros and cons of Binance
Pros
- Trusted by more than 185 million users
- Low trading fees
- Operates in all countries
- Has own bitcoin
- 25% discount on payments with BNB.
Cons
- Offers fewer currencies in the US
- Not available in some US states
- Facing regulatory issues from various jurisdictions
How to Choose a Cryptocurrency Exchange?
As we have mentioned before, the lowest trading fees do not mean it is better than other exchange platforms.
Choosing a platform that aligns with your interest, experience, needs, and nature of trade is important for a better experience and to maximize profit.
If you are considering a crypto exchange you should consider many other factors such as security, liquidity, customer support, user experience, supported payment methods, insurance, types of currencies supported, and regulatory compliance. Let’s see why these factors are important:
Security
The exchange should provide the best security support to protect your personal information and avoid account hacking. Some of the best exchanges offer security features such as KYC verification, multi-factor authentication, and separate security keys to enable trading and liquefaction.
Liquidity
Liquidity in trading means the ease of trading crypto assets without having a significant impact on their value. The higher the liquidity, you will be able to buy and sell your assets faster and offer more profitability.
Customer Support
In a volatile world like digital currency, you need to have a reliable and strong customer support team to assist you in every possible way. So, look for exchanges that have phone and email support.
User Experience
The overall design, look, and ease of access to features contribute greatly to a seamless trading experience. Choosing a platform that is easy to use can significantly impact the ease of buying, selling, and assessing market trends.
Insurance
Most of the credible crypto exchanges provide insurance security to cover security breaches. So, even if a hacking happens, the user will get the value of their assets.
Regulatory Compliances
While crypto trading is considered legal, it is still a gray area. So, many of the crypto exchanges are fully or partially restricted in some parts of the world. Choose an exchange that is licensed to operate in your country.
Overall Credibility
One of the most important aspects of choosing a crypto exchange is verifying credibility. Look for exchanges that are trusted by more users and have a good user rating.
Conclusion
In this article, we have discovered the crypto exchanges that cost the least exchange fees. Along the way, we also covered what crypto exchanges are, what trading fees are, and how to minimize crypto exchange fees.
To sum up, crypto exchanges are any platform that allows users to sell, buy, and exchange cryptocurrencies, and other digital assets.
The three types of crypto exchanges include centralized, decentralized, and hybrid. The platform plays as a mediator and charges a cut of the trade. They usually charge for buying (taker fee), selling (maker fee), withdrawing, and depositing.
The ways to reduce the trade fee include trading in high volumes, avoiding trading in peak times, using limit orders, and choosing the exchange with the lowest trading fee.
Some of the crypto exchanges that charge the lowest trading fees as of June 2024 include crypto.com, OKX, Gemini, Kraken, Coinbase, Kucoin, Bybit, and Binance.
While it is important for profitability to opt for a crypto exchange that costs less, you should also consider other factors such as security, liquidity, customer support, user experience, insurance, regulatory compliance, and regulatory compliance to select a platform that will best align with your needs, interest, and the nature of your trading.
