No-one likes paying over the odds. This is true for when you buy bitcoin, buy Ethereum, buy ripple or buy any other cryptocurrency. This is why it is important to find an exchange platform with the lowest fees to buy bitcoin and other altcoins.
This will ensure that you aren’t spending more money than you need to, which, of course, means that making a profit happens quicker. This top list of the best cryptocurrency exchanges where to buy bitcoin for the lowest fee for bitcoin can help you do that.
Binance has a nice and straightforward approach to fees. The way their system works is very simple. When you attempt to buy bitcoin with a credit card, they will either charge you 3.5% or a $10 flat rate whichever is higher.
However, when it comes to other transactions of their site, this figure can drop significantly to around 0.1% or even 0.75%, which are also very respectable figures. However, they can go even lower than this if you are an avid trader.
More active traders can see even smaller fees that drop to as low as 0.015%. This is because they implement the same rules as Kraken in that the higher your trading volume the lower the price is you have to pay.
A rising star in the cryptocurrency exchange world EXMO offers respectable fees to users, which are much lower than some of their more established counterparts in the industry.
Their fees will reflect the cryptocurrency you are buying and the method by which you choose to do that. Their base fee starts at just 0.2%, it is then reflective of the crypto. All the biggest cryptocurrencies are without any additional fees for depositing. Meaning you can deposit bitcoin or deposit Ethereum with no fee other than the 0.2% basic fee.
If you are looking deposit and buy bitcoin with a credit card though, these fees do go up and when it comes to withdrawals each cryptocurrency will ask for a different percentage. For example, withdrawing Doge will cost you, 1 Doge.
Kraken offers one of the most dynamic of judging fees that their users will have to pay and it is reflective primarily of your activity on your account.
With the fee based on three criteria, the currency pair that is being traded, your 30-day trading volume and whether your order is maker or taker. These range from as low as 0% for the more active users on their service but can increase a fair bit to more than 20% if you aren’t. It is also reflective of the amount you transfer.
As such, you are rewarded at Kraken in the way of transaction fees for being more active, which is a means to encourage you to trade more. As such, this is the best option for those looking to become more active traders.
Well, you don’t get much lower than free. Which is why LocalBitcoin is a solid shout for when you are looking to get the lowest fee to buy bitcoin and other altcoins.
Via their service, registering, buying and selling bitcoin is completely free, as is transferring coins to other wallets within the LocalBitcoin network. You will see minor fees of 1% if you choose to advertise on their site in order to trade though, with varying fees for transferring crypto to other bitcoin wallets and if you use their merchant invoicing service there will 0.5%.
Another charge will be €200 per hour for custom work. However, all these options may not affect the more everyday user so if you are looking for basic trading services, LocalBitcoin won’t cost you a penny.
There you have it, a selection of four exchange with the lowest fees to buy bitcoin and other altcoins. All four of these also have a top all-around service so as well as low fees, so you get many other perks on top that too, for example, detailed trading advice and other assistance along the way. Which will also help you save money in other ways too.
With this in mind, we wish you good luck trading on these exchange platforms whichever cryptocurrency you are hoping to invest in.
Featured image: CudoMiner