FTX is a great choice for cryptocurrency trading, with low fees and a decent selection of digital assets on offer. It also has some features for advanced traders, including the ability to trade between cryptocurrencies and multiple national currencies. Exchanges are invaluable platforms that provide key statistics on crypto, trading pairs, storage options, and much more. While you can buy or sell crypto through a software wallet, having an account with a reputable exchange can open a lot of doors in terms of creating your wallet.
But using an exchange can be expensive, so finding the most affordable and reputable options is crucial. So, which cryptocurrency exchanges offer the lowest fees for buying and selling? Ranked fourth in trading volume globally, Kraken started as a US Bitcoin and Litecoin exchange (as well as a platform for trading euros). Nowadays, it supports a huge list of different cryptocurrencies, from Ethereum to Aave. There are many trading pairs, staking currencies and funding options available on Kraken, and its buying and selling fees make it a top choice exchange.
At the moment, Kraken only charges a creator fee of 0.16% and a taker fee of 0.26%. Taker fees are usually higher than maker fees, given that a taker will remove liquidity from an exchange, which is the opposite of what the exchange wants to make a profit. However, this taker fee is still reasonable compared to other exchange platforms. Sitting comfortably as the world's most popular exchange, Binance is a favorite of thousands of cryptocurrency buyers and sellers, and for good reason.
Not only is Binance available in more than 180 countries around the world, but its commissions are more than friendly. Currently, both maker and taker fees are only 0.1%, making it one of the most affordable exchanges out there. In addition to this, Binance does not charge for deposits or withdrawals, which makes moving your money to or from the platform much more pleasant. Another great option for low-cost trading is Pionex.
This platform offers incredibly low maker and taker rates - both fees are only 0.05%. In addition to this, Pionex does not charge for deposits, although there is a fixed fee for withdrawals that varies by currency. Well, Bybit's general fees are fantastic. With no creator fee and a taker fee of only 0.075%, Bybit makes sure to avoid all kinds of nasty charges, regardless of whether you're buying or selling crypto.
In addition, withdrawals and deposits are free at Bybit. Therefore, if you are looking for a cryptocurrency exchange with very low fees across the board, Bybit is the one for you. Currently, the creator and taker fees of KuCoin are the same - standing at a pleasant 0.1%. In addition to this, KuCoin does not charge for deposits of any kind but does charge for withdrawals - the fee you will incur for withdrawing funds varies depending on the type of cryptocurrency you are moving.
FTX is another great option when it comes to low-cost trading. Formerly known as Blockfolio, FTX is one of the largest cryptocurrency exchanges in the world - ranking just behind Coinbase in the global ranking. FTX charges a creator fee of only 0.02%, which is considerably lower than that offered by many other exchanges. In addition to this, their taker fees are also very low - currently standing at only 0.07%.
The platform also doesn't charge for withdrawals or deposits - so generally speaking using FTX ensures that your commissions stay low regardless of your individual trading volume. BlockFi is another great option when it comes to low-cost trading - even though it isn't as big as some of the other platforms listed here. BlockFi offers a range of great products to users including interest accounts loan options and your own credit card - and when it comes to fees BlockFi outperforms many other platforms because it doesn't charge any kind of maker taker or spread commission. You can also deposit any amount you want into your BlockFi wallet without having to pay a commission - plus you can make one free withdrawal per month on the platform with different fees for any additional withdrawal which depends on the type of cryptocurrency you are moving.