Table of Contents
Cryptocurrency trading has exploded in popularity over the last few years. With so many coins and exchanges to choose from, it can be overwhelming for beginners to find the best platform that suits their needs.
One of the most important factors to consider when selecting a crypto exchange is the fees. Trading fees can quickly eat into your profits if you‘re not careful. The good news is that competition between exchanges has driven fees down substantially.
In this guide, we analyze over 50 top crypto exchanges to reveal the 12 cheapest options with the lowest overall fees. We evaluate trading fees, deposit/withdrawal fees, spreads, and other costs across various transaction types.
How We Evaluated the Cheapest Crypto Exchanges
We used several criteria to select the most affordable cryptocurrency exchanges:
-
Trading fees: This includes maker/taker fees, futures/options fees, and other per-trade costs. Lower is better.
-
Deposit & withdrawal fees: Exchanges that don‘t charge deposit fees and have low crypto withdrawal fees made our list.
-
Payment fees: Exchanges with lower credit card purchase fees ranked higher.
-
Spreads: We favored tighter bid-ask spreads for coin prices on the exchange order book.
-
Volume-based discounts: Exchanges offering reduced fees based on higher 30-day trading volume were viewed favorably.
-
Special promotions: Time-limited promotions that reduce fees were factored in as well.
Based on these benchmarks, here are the 12 cheapest cryptocurrency exchanges with the lowest overall fees.
1. FTX
FTX emerged in 2019 and has quickly become one of the largest crypto exchanges in the world. Originally based in Hong Kong, FTX relocated to the Bahamas due to friendlier crypto regulations.
For makers, FTX offers a best-in-class 0% trading fee if you use the FTT token to pay. The standard maker fee is just 0.02% otherwise. Taker fees start at 0.07%, significantly lower than most competitors. Margin trading fees are also only 0.07% by default.
Deposits and withdrawals are free on FTX. The only minor gripe is that credit card purchases currently have a not-so-competitive 5% fee. However, FTX plans to support free credit card deposits in the future.
With some of the lowest trading, deposit/withdrawal and margin fees in the industry, it‘s clear why FTX is one of the fastest growing players in the crypto exchange space. The zero-fee maker structure makes it extra appealing for high-frequency algorithmic traders as well.
2. Gemini
Founded by the famous Winklevoss twins, Gemini has built a solid reputation as a regulated US-based crypto exchange and custodian. Security and compliance are top priorities here. Gemini boasts insurance coverage and undergoes regular bank-level audits – a level of security not seen at many exchanges.
Gemini uses a maker-taker fee schedule with volume-based discounts. The more total volume traded in USD over the past 30 days, the lower your fees. Active traders can qualify for zero maker fees and a 0.1% taker rate. Without discounts, the maker fee is 0.25% and taker is 0.35%. Margin fees range from 2.5% – 5% based on tier.
Fiat deposits and crypto withdrawals are both free on Gemini, with the exception of wire transfers which cost $10 for deposits and $20 for withdrawals.Credit card transactions come with a 3.49% fee, inline with other exchanges. Gemini generates most revenue from its trading fees rather than payment fees.
Overall, Gemini stands out as one of the most cost-effective exchanges thanks to competitive trading fees coupled with zero-fee deposit and withdrawal structure for crypto assets.
3. Crypto.com
Crypto.com is a rapidly growing platform in the crypto exchange space. The exchange benefits from its affiliation with Crypto.com Coin (CRO), which provides discounts for high-volume CRO stakers.
For makers, fees range from 0 to 0.4% depending on whether you pay fees using CRO. Taker fees are just 0.1% higher in each tier. Margin trading fees are an ultra-low 0.02% to 0.1% based on 30-day volume.
Deposits are free on Crypto.com Exchange. Withdrawals are charged a fixed network fee for moving crypto off exchange wallets. Fiat purchases made via credit/debit card come with a 2.99% processing fee.
Between the CRO token incentives, rock-bottom margin trading fees, and zero deposit fees, Crypto.com stands out as one of the most affordable exchanges for active traders and institutions. The growing popularity of the Crypto.com ecosystem also gives the exchange a boost.
4. KuCoin
Based originally in Hong Kong, KuCoin takes a similar approach to Crypto.com in encouraging use of its native KCS token for reduced fees. Today KuCoin is headquartered in Seychelles.
For makers, fees range from 0.02% to 0.1% depending on KCS holdings and 30-day trading volume. Takers enjoy fees as low as 0.08% with sufficient volume. Margin trading fees sit around 0.04%.
Crypto deposits are free. Withdrawal fees vary by coin, with some coins offered for free withdrawal. Fiat purchases made by credit card cost 2.99% plus $4.99 per transaction.
The tiered-volume maker-taker model along with the option to pay fees in KCS gives traders multiple ways to reduce costs on KuCoin effectively. The wide coin selection here adds to the popularity with crypto enthusiasts.
5. Binance
As the world‘s largest crypto exchange by trading volume, Binance provides an unparalleled liquidity pool and coin selection. Though headquarters are now in the Cayman Islands, Binance operates localized exchanges across the globe.
Standard maker and taker fees are 0.1% each. Using the BNB token cuts fees in half to 0.05%. For futures trades, fees range from 0.02% to 0.06% depending on leverage.
Crypto deposits are free. Withdrawal fees vary by coin, ranging from zero for a few coins up to 0.0005 BTC for BTC withdrawals. Credit card purchases incur a 3.5% processing fee plus $10 minimum fee per order.
Overall costs remain competitive on Binance despite its market-leading position. The wide array of coins offered here attracts both retail and institutional crypto investors alike. VIP programs are also in place to incentivize high-volume traders with reduced fees.
6. Coinbase Pro
Coinbase Pro operates as the trading-focused arm of the Coinbase crypto business, which also includes the main Coinbase platform and institutional-focused Coinbase Prime. Coinbase Pro shares its parent company‘s focus on trust and transparency within crypto financial services.
The maker fee here starts at a reasonable 0.5%, reduced to 0% for high-volume traders. Taker fees begin at 0.5% as well before dropping to 0.35% at higher volume levels.
All deposits are free. Crypto withdrawals cost a fixed network fee that varies per digital asset transferred. Cash transfers from a bank account are also free. Credit and debit purchases both incur a 1.49% transaction fee.
With solid trading fees across the board coupled with zero-commission deposits, Coinbase Pro surfaces as a cost-efficient option for both retail traders and institutions. The ability to quickly transfer funds from an existing Coinbase account is another perk.
7. OKX
Previously operating under the name OKEx, OKX is a leading crypto exchange catering primarily to traders seeking access to futures, margin trading and options. Based in Seychelles, OKX aims to deliver a robust suite of trading products alongside deep liquidity pools.
For spot trading, the maker fee is 0.1% while the taker fee is slightly higher at 0.15%. Futures funding fees are generally 0.03% every 8 hours. Margin trading interest rates start around 0.04% daily.
Deposits do not have any fees. Withdrawal fees vary per digital asset, with BTC withdrawals charging 0.0005 BTC. Fiat purchases made via Visa or Mastercard levy a 2.99% convenience fee plus a fixed $0.30 processing charge.
OKX keeps fees low across its various trading products. The range of crypto derivatives on offer makes it attractive for advanced traders seeking assets beyond just spot trading.
8. Bitfinex
Bitfinex is something of a veteran exchange in the crypto space, being one of the longest-running exchanges still operational today after its launch in 2012. Headquartered in British Virgin Islands, the exchange focuses on speed and reliability of order execution for professional traders.
For makers, fees start at 0.1% before dropping to 0% with sufficient 30-day volume. Takers originally face a 0.2% fee. Both maker and taker fees have additional volume-based reductions. Margin funding rates begin at 0.03% daily.
Crypto deposits are free. Withdrawal fees vary per coin, though popular coins like BTC, ETH and USDT withdraw free of charge. Fiat deposits carry fees around 1% depending on currency, while fiat withdrawals cost 3%. Credit card purchases exact a 3.5% fee plus minimum $10 charge.
While not having the most beginner-friendly interface, Bitfinex is loved by regular traders for its robust feature set and deep liquidity, enabling fast order execution. The volume-based fee discounts are a nice perk for high-activity traders.
9. HitBTC
As a pure crypto exchange founded in 2013, HitBTC specializes in offering trading pairs between a wide variety of altcoins. Newer coins often get listed on HitBTC earlier than competitors. Although originally from Denmark, HitBTC now operates outside any single regulated territory.
Makers enjoy fees starting at 0.1%. Takers see higher fees around 0.2%. Using the native HT token reduces fees for both by 50%. Margin trading interest rates begin at 0.05% daily.
There are zero fees for crypto deposits. Withdrawal fees differ per coin, averaging around 0.0006 BTC for BTC withdrawals as an example.
The early listing of newer coins paired with low overall fees has established HitBTC as a popular "long tail" exchange catering more for altcoin enthusiasts. For traders focused on the top coins though, HitBTC still brings respectable value in terms of fees.
10. Phemex
Despite being founded more recently in 2019, Singapore-based Phemex has already built up a reputation around fast order execution speeds and quality customer support. Phemex offers spot, futures, contract and margin products for trading popular cryptos against stablecoins or fiat currencies.
For spot and contract trading, maker fees start at -0.025% thanks to a special rebate program to incentivize adding liquidity. Taker fees begin at 0.075%. Futures taker fees are 0.05% by default. Interest rates on margin positions sit around 0.2% per day currently.
Deposits and withdrawals are both free for cryptos. Fiat deposits incur no fees for wire transfers, while withdrawal fees are 2%/3% for USD/EUR via SWIFT. Credit card convenience fees are an average 2.9% across providers.
With ultra-low and even negative maker fees for spot and contract trading, Phemex is aiming to capture more market share by rewarding liquidity providers. All traders benefit from the generally lower fees here.
11. Bitstamp
Bitstamp positions itself as the “world‘s longest-standing crypto exchange”, tracing its history back to 2011. Licensed in Luxembourg and with UK offices, Bitstamp mainly focuses on European traders. Despite its longevity in a fast-moving industry, Bitstamp has kept up with advancements around security and reliability.
Fee schedules differentiate between basic accounts and those verified to trade higher monthly volumes. At the lowest tier, makers face 0.25% fees while takers see 0.5% fees. These reduce to 0.1% and 0.2% respectively at higher verified levels. Margin trading interest rates start at 0.1% daily.
Deposit options include SEPA wire transfer, cryptocurrency networks and debit/credit card. Of these, only card deposits carry fees at 5%. All withdrawals take a percentage fee up to 0.09% depending on volume tier, making overall withdrawal costs reasonable against alternatives.
Bitstamp keeps overall fees low, while still offering integrated bank and card payments suitable for beginner traders. Seasoned traders benefit from tiered discounts driving competitive rates for larger transaction volumes.
12. Liquid
Purpose-built for serious traders and institutions since 2014, Liquid offers sophisticated trading tools and connectivity. Regulated in Japan, Liquid links to exchanges worldwide to form a unified liquidity pool. Recently Liquid has introduced new perpetual swap products for leveraged crypto trading.
Makers enjoy fees starting at -0.025%, thanks to rebates for adding liquidity. At the lowest tier, takers pay 0.15%. Heavy traders can trim that down to 0.075%. Perpetual swap funding rates impose modest fees to balance long/short exposure.
Fiat and crypto deposits are both free outside wire transfers. Withdrawal fees depend on the currency, with BTC for example charging 0.001 BTC. Debit/credit card convenience fees are set at a competitive 1.8%.
Liquid’s blend of negative maker fees, low taker fees and tight spreads makes it appealing for active traders seeking to lower transaction costs. Support for perpetual swaps and advanced options stands out from simpler spot exchanges.
Tip: Use free crypto exchange fee calculators to estimate your overall trading fees.
Key Takeaways: Cheapest Crypto Exchange Summary
While comparing fees across exchanges, we found:
- Maker fees averaged 0.1%, with several top exchanges offering 0%.
- Taker fees tended to run 0.15-0.30% on average.
- Margin trading came with daily interest rates from 0.02% to 0.20% typically.
- Most exchanges impose no deposit fees, apart from debit/credit card loads.
- Withdrawal fees differed widely, from zero to 0.5%+ in some cases .
- Exchanges leveraged token rewards and volume-based discounts to reduce fees.
- Always check the latest promotions offered to save on trading or payment fees.
Remember that outside core trading fees, it‘s vital to consider payment charges for depositing/withdrawing fiat currencies too. Convenience fees from debit/credit card transactions in particular eat into your crypto purchase amount unless you use wire transfers or ACH payments instead.
While fees are crucial, also factor in other elements like security practices, legal/regulatory standing and technical platform reliability when selecting your preferred exchange.