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Best No-Fee Exchanges

Since lower fees translate into higher profits, one of the most important considerations in selecting a cryptocurrency exchange is the fee they charge on each interaction. Generally, the crypto exchange industry charges a standard 0.25% fee for both takers/makers. But there are other no-fee crypto exchanges that offer an excellent range of features without charging their customers any fees.

Top Five No-Fee Crypto Exchanges

As traders, we should always explore new ways to maximize our profits. Reducing our trading fees as close to zero as possible is the surest way to achieve this goal. There are a plethora of platforms branding themselves as no-fee crypto exchanges. But it’s hard to determine which are harnessing the art of lying and which genuinely allow you to buy bitcoin without any fees.

If you are new to the world of cryptocurrency and are wondering how to buy fee-less bitcoin, we have good news for you. In this article, we have put together a list of the top 5 cryptocurrency exchanges that allow you to trade digital assets without paying any fees/commissions.

Phemex

Founded in 2019, Phemex is a relatively young cryptocurrency trading exchange for buying/selling digital assets with a simple and intuitive user interface. Phemex was formed by eight top former Morgan Stanley Executives and is headquartered in Singapore. Currently, the platform is ranked number 6 based on daily trading volume.

Phemex Homepage

Phemex works based on a zero-trading fee model. Instead, clients must pay for a premium membership ($9.99/month, $19.99/three months, and 69.99/12 months.) Aside from not paying any fees, premium members can take advantage of hourly withdrawals with no limit, set conditional spot orders, and endow friends with free trial premium memberships.

Furthermore, Phemex offers extremely low makers/takers fees. Phemex charges takers 0.075% per order and makes an attractive fee of -0.025%, meaning they actually get paid for each trade.

KuCoin

Established in 2017, KuCoin is one of the most secure and advanced cryptocurrency exchanges in the world for buying/selling Bitcoin, Litecoin, and more than 250 other digital assets.  KuCoin offers fiat-to-crypto and crypto-to-crypto (with more than 440 trading pairs) services, as well as staking, futures trading, and lending.

KuCoin Homepage

Recently, the platform has launched its Instant Exchange service. The service provides customers with the best available exchange rates in the global market and allows them to instantly purchase all supported digital assets based on the provided rates. Furthermore, Kucoin charges 0 percent trading fees for these trades.

Kucoin charges a 0.10% flat fee on normal trades. It is indeed very low considering the global industry average is around 0.25%. Also, it doesn’t charge any fees for deposits.

Digitex

Digitex is a peer-to-peer cryptocurrency futures trading exchange that allows clients to trade, buy, and sell digital assets with no trading commissions or transaction fees. Digitex offers high liquidity, and there is no need to pass a lengthy KYC procedure. The platform is geared toward expert traders who know how to work with future contracts. However, if you have adequate relevant knowledge and are looking for a place to buy bitcoin without fees, this is the place for you.

Digitex is among the few cryptocurrency exchanges that works based on a true zero-fee model. Clients can trade in any size and as frequently as they want without ever paying transaction fees. Furthermore, Digitex is decentralized and non-custodial, meaning the platform can never be hacked, and clients have complete control over their funds.

There are other factors that make Digitex a unique no-fee crypto exchange. The platform offers a slick ladder trading interface that makes short-term trading, placing and canceling orders quick and easy. Furthermore, since Digitex market-making bots are programmed to lose money over time and keep funds in the exchange pools, customers have access to vast amounts of liquidity.

Lykke

Lykke is a Swiss cryptocurrency exchange providing financial products and services at both business-to-business and business-to-consumer levels. Lykke works with more than 100 crypto-asset trading pairs and accepts fiat currencies. Aside from its web-based software for trading cryptocurrencies, the exchange also provides a cryptocurrency wallet downloadable from Google Play or Apple App store.

Lykke Homepage

Lykke takes security very seriously, and it complies with AML standards and KYC policies. Another thing that makes Lykke stand out is its outstanding customer support. The platform provides 24/7 technical support through live chat, email, or even direct calling via Skype.

In terms of trading fees, Lykke doesn’t charge different fees for makers/takers. In fact, the platform goes one step further and doesn’t charge any trading fees at all. Furthermore, they don’t charge any fees for withdrawal operations. Instead, they collect revenue by providing insurance and consulting services as well as market liquidity.

Crypto.com

Crypto.com is a cryptocurrency platform that allows you to buy, store, transfer, and exchange more than 100 different cryptocurrencies. However, they offer a lot of other products and services. For example, through their crypto Visa Card, you can convert your digital assets and spend it anywhere Visa Cards are accepted. Other services include Defi Wallet, Crypto Credit, Crypto Earn, and many more.

Crypto.com is one of the more popular low-fee exchanges

Crypto.com offers some of the lowest fees among centralized exchanges. Using their Android and IOS app, you can deposit cryptocurrencies, exchange your digital assets with other cryptocurrencies, and transfer them to your Crypto.com wallet, all free of charge. Also, crypto.com allows you to buy bitcoin with zero percent credit card fees. Furthermore, new users can take advantage of 0% trading fees for the first 90 days.

Different Types of Cryptocurrency Fees

It would be wise to treat all claims about exchanges with 0% fees with a grain of salt. After all, fees are the primary source of revenue for these institutions. Even if they don’t charge fees for one specific service, they certainly charge for others, such as withdrawing or depositing. To give you a better idea of how cryptocurrency exchanges work, we have compiled here the standard types of commission fees.

Deposit/Withdrawal Fees

Cryptocurrency exchanges allow traders to swap their digital assets with other cryptocurrencies or fiat currency. In exchange for their services, they charge a fee when clients deposit or withdraw their fiat money.

Exchange Fees

Crypto exchanges play an intermediary role between traders, and consequently, they charge makers/takers a fee for trades made on their platform. Makers/traders who place orders that can’t immediately be matched. In other words, they provide liquidity to a market. On the other hand, takers place orders to take liquidity from the order book. In order to provide traders with an incentive to place orders on the book, exchanges charge makers a lower fee, while takers generally pay higher fees.

Network Fees

Cryptocurrency is based on blockchain technology and crypto exchanges (especially decentralized ones), and their users must directly or indirectly pay a fee for the mining costs associated with blockchain.

Market Spread

To understand what a market spread is, we must first have a basic understanding of the exchange order book. The order book is defined as the list of all open orders for a specific trading pair available at a particular time. And by an open order, we basically mean the price that people offer to buy or sell a particular asset.

Now that we know the definitions of the order book and open order, let’s see what market spread is. The market spread is defined as the gap between the lowest buy bid and the highest bid offer on the order book. This gap is the difference between the price the seller is asking to sell a particular asset and the price buyers are willing to pay to buy that asset.

For example, let’s say you want to buy one Bitcoin from a seller. You offer to buy his/her BTC for $40,000, while the seller thinks the price should be $45,000. This $5,000, or the difference between your bid and his/her offer, is the spread. The lowest ask price and the highest bid price determine the market spread.

You’ll notice slightly different prices between exchanges and is usually because of spread.

Conclusion: Find the Right No-Fee Exchange For You

With literally hundreds of cryptocurrencies available and many more being launched every day, it could be overwhelming to find the perfect one that meets all your demands. In this article, we compiled a list of the top 5 cryptocurrency exchanges where you can buy bitcoin without paying any fees. Of course, not all the services these platforms provide are free of charge.

But in a world where cryptocurrencies and blockchain technology are going mainstream, and many countries are developing digital forms of their national currency, it won’t be long before institutions and governments provide all their services free of charge. Until such a day, you can use the exchanges introduced here to trade and buy bitcoin with no fees or mention your favorite no-fee exchanges in the comment section.

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CryptoVantage Staff

CryptoVantage.com is committed to simplifying cryptocurrency for everyday people. Learn more about CryptoVantage.com and our team on the About Us page.