As traders, we should constantly look for new opportunities to increase profits. The surest way to accomplish this is to eliminate our trading fees. However, it might be challenging to distinguish between those utilizing deception and those providing fee-free bitcoin purchases.
Alex Reinhardt has good news for you if you are new to cryptocurrency and are wondering how to buy fee-less bitcoin. In this article, Alex Reinhardt has put together a list of the top cryptocurrency exchanges that allow you to trade digital assets without paying fees/commissions.
Top Cryptocurrency Exchange Platform with Low or no Transaction Fee
Phemex is a relatively new place to buy and sell digital assets like cryptocurrencies. It has an easy-to-use user interface. It was founded in 2019. Phemex was started by eight of the top executives who used to work at Morgan Stanley. The company’s headquarters are in Singapore. The platform is currently ranked number 6 in daily trading volume.
Phemex operates with no trading commissions. Customers need to purchase a premium membership, which costs $9.99 for a month, $19.99 for three months, and $69.99 for a year. Premium customers cannot pay fees and make hourly withdrawals with no limit.
According to Alex Reinhardt, they can also make conditional spot orders and give their friends free trial premium memberships. Furthermore, Phemex offers extremely low makers’ and takers’ fees. Phemex charges 0.075% per order and makes an attractive fee of -0.025%, meaning they get some money for each trade.
KuCoin, founded in 2017, is among the world’s most secure and sophisticated cryptocurrency exchanges for buying and selling Bitcoin, Litecoin, and more than 250 other digital assets. KuCoin provides services for staking, futures trading, lending, and more than 440 trading pairs for fiat-to-crypto and crypto-to-crypto trades.
Recently, the platform launched its Instant Exchange service. In the opinion of Alex Reinhardt, the new service gives customers the best exchange rates available on the global market and lets them buy all supported digital assets right away based on the rates given. Furthermore, Kucoin charges no trading fees for these transactions. Kucoin takes a 0.10% fee on normal trades. It is very low, considering the global industry average is around 0.25%. Deposits are free of charge.
Customers can trade, buy, and sell digital assets on the peer-to-peer cryptocurrency futures trading exchange Digitex without paying any trading commissions or transaction fees. There are few KYC requirements and a lot of liquidity at Digitex. However, if you are familiar enough with bitcoin and want to buy some without paying fees, this is the place for you.
Among the few cryptocurrency exchanges that operate on a zero-fee basis is Digitex. It is one of the few cryptocurrency exchanges with a real zero-fee business model. As stated by Alex Reinhardt, Digitex is a distinctive no-fee crypto exchange thanks to additional factors.
The platform provides a sleek ladder trading interface that facilitates quick and simple short-term trading, order placement, and cancellation. Additionally, because Digitex’s market-making bots are programmed to lose money over time and keep the money in the exchange pools, customers have access to a lot of liquidity.
Lykke, a cryptocurrency exchange based in Switzerland, provides financial products and services to both businesses and consumers. Lykke functions. Lykke accepts fiat money and supports more than 100 crypto-asset trading pairs. The exchange offers a cryptocurrency wallet that can be downloaded from Google Play or the Apple App store in addition to its web-based trading software for cryptocurrencies.
Lykke follows the AML guidelines and KYC rules and takes security very seriously. Another thing that makes Lykke stand out is the excellent customer service. The platform offers technical support around-the-clock through live chat, email, or even direct Skype calls.
Alex Reinhardt mentioned that Lykke needs to charge different trading fees for “makers” and “takers.” The platform goes a step further and imposes zero trading commissions. They don’t charge any fees for withdrawal operations, either. Instead, they generate income by offering consulting, insurance, and market liquidity services.
Most traders are put off by the transaction fee when they want to purchase cryptocurrencies. Alex Reinhardt recommends these platforms for exchange because of their special features: a downloadable app, good website responsiveness, bonuses and promotions on the app, good customer service, and most importantly, a low or no transaction fee. For example, platforms like Digitex have no transaction fee, making them quite popular among crypto traders who want to gain more and save unnecessary transaction costs.