This guide covers the crypto exchanges with the lowest trading fees for the spot markets.
We go through the top Bitcoin trading sites for cryptocurrencies and compare them with their expenses.
Crypto Exchange with Lowest Spot Trading Fees
We have summarized the trading fees for the best crypto exchanges in the table below. Read further down for the complete analysis regarding the trading fees.
- Many crypto exchanges have the same default spot trading fees (0.1% for maker and taker).
- Binance has the most incitements to get crypto spot trading discounts(Pay with a native token, hold the native token, referral code).
- Kucoin is the only exchange with a negative spot trading fee. See the lowest crypto spot maker fee.
- Gate.io has the lowest spot trading taker fee, according to the table.
Also, don’t forget how to get even lower fees by reading the summary below the table.
*The highest crypto spot trading fees.
**The lowest crypto spot trading fees. These can be reached by trading volume or holding the native coin for each exchange.
***With Binance, Kucoin, and Bitget you can achieve lower prices by paying the trading fees in their native token (20-25% fee rebate)
***With Binance, Kucoin, Bitget, and Gate.io you can get a 20% discount on spot trading fees by signing up vi CryptoCoinTrade.
What are crypto spot trading fees?
All trading fees are charged percentage-wise. It means a part of the trading volume is deducted as a fee for the services supplied by the trading platform. The trading fees usually start around 0.2%.
However, crypto trading fees can vary by a magnitude of 100x (varies from 0.01-1%), and this is why it’s so important to understand the trading fees, compare them and minimize them.
Every crypto exchange and trading platform needs to cover the expenses for their services; therefore, they charge trading fees.
However, different crypto exchanges charge additional trading fees, and sometimes, it can be hard to compare because they also give rebates and discounts in different ways.
We will help you to understand and compare trading fees among different crypto exchanges.
Why are trading fees important to compare?
Crypto trading fees are probably the most critical single factor to compare when it comes to comparing different crypto exchanges if you are a frequent trader.
Well, it might seem negligible to pay 0.1% or 0.05% in trading fees, but if you make 100 trades, or 1.000 trades, or maybe even 10.000 trades in a year, it adds up and makes it the single most important thing to compare.
OKX - Lowest Spot Trading Fees
OKX is ranked as the second crypto exchange in Coingecko´s trust score listing concerning daily spot trading volume.
- OKX offers the lowest spot trading fees
- OKX is ranked as the number 7 crypto trading site on Coinmarketcap. However, Coinmarketcap is owned by Binance and is therefore not 100% trustworthy since OKX and Binance are competitors.
- R1-R5: Regular users are categorized into tiers by their total OKB holdings.
- V1-V8: VIP users are categorized by 30-day trading volumes OR daily asset balances. Tiers are updated daily.
Binance Spot Trading Fees
Binance crypto exchange offers among the lowest spot trading fees of all exchanges.
However, to reach the lowest trading fees, you must
- Opt-in to pay the Binance trading fees with the Binance Coin BNB. This will reduce your trading fees by -25%. See, how to pay Binance fees with the Binance Coin BNB
- Use our referral link, which will give you -20% off the already discounted trading fees
On top of this, you can reduce your trading fees even further by reaching a higher VIP level
This can be done in either one of the following
- Have an extensive 30-day trading volume (as you can see in the graph above
- Keep a high balance of BNB coins on your Binance account
Kucoin Spot Trading Fees
Kucoin trading fees are very similar to Binance trading fees. This is also true about reducing your trading fees with referral code, native coin, and trading volume or holding KCS.
Here is the deal
- You can get -20% off all trading fees by opt-in to pay the trading fees with the native Kucoin KCS. See how to opt-in to pay the Kucoin trading fees. with the Kucoin token.
- Get an additional -20% off all fees by using our referral link
In addition, you can reduce your expenses by reaching a higher VIP level. Like Binance, this can be done in two different ways
- By having a 30-day average trading volume over a certain threshold (see graph above)
- By holding the KCS coin in your Kucoin account
Bybit Spot Trading Fees
Bybit spot trading fees are high if you are a low-volume trader because they don’t have the trading fee discount opportunities you find with Binance and Kucoin.
Also, they don’t have the number of listed cryptocurrencies you find on Kucoin and Binance.
Finally, they are not close to offering the trading volume Kucoin and Binance are doing in the spot market. However, Bybit is a great crypto trading platform for the derivative market.
Conclusion: Bybit is not a good crypto exchange for spot trading but for derivative trading.
Read our full Bybit review.
Bitget Spot Trading Fees
Bitget has a flat spot trading fee scheme. Here, you pay the same fee regardless of your trading volume or holdings.
However, you can get a lower crypto spot trading by paying it with the BGB native token.
In addition, you will get a 20% further spot trading fee discount when using our referral link.
Gate.io Spot Trading Fees
Gate.io might come out a bit high on crypto spot trading fees compared to this article’s other top crypto trading sites.
However, the low-end Gate.io has the lowest crypto-taker trading fees.
In addition, Gate.io offers completely free spot trading for some of the most common trading pairs (makers)
- /USDT (BTC/USDT)
- /USD (All trading pairs)
- /BTC (All trading pairs)
- /ETH (All trading pairs)
Kraken Spot Trading Fees
Crypto Trading Fees VS Spreads on Platforms
All trading platforms have two choices to charge their cut from your investments. Some use trading fees, while others opt for trading spreads.
Fees are classic expenses for your trades, where you pay to put a percentage of your order’s total value. Their level usually depends on monthly activity (volumes achieved), or the expense might fix itself regardless of the trade value.
Spreads, on the other hand, define the buy and sell price of the cryptocurrency before one can even create an order. As a result, traders pay a part of the bitcoin’s value and need to earn above the difference to profit.
In many cases, trading with platforms that implement fees transparently is a lot cheaper way to make money trading cryptocurrencies.
Crypto Trading Deposit Fees
Apart from trading expenses, whether they are spreads or regular fees, investors should look at deposits/withdrawals.
Funding your account through fiat or crypto does come with its own set of fees that can be expensive. Thus, we recommend you check out websites offering the lowest deposit fees.
Some different fiat deposit methods
- Wire transfer
- SEPA (EU bank transfer)
- Credit and Debit Card
- PayPal and other ewallets (Netteller, Skrill, Payoneer etc)
Additionally, investors should understand that exchange rates also account for fees. The difference from the industry average can be pretty significant, in some cases over 5% at some platforms. If doing margin trading, make sure you account for interest rates while lending from the forum.
Crypto leverage trading is borrowing from the market, and to understand the cost structure and function better, read our guide about it. Lastly, traders should always account for taxes if their country implements crypto regulations.