Best Cryptocurrency Exchanges With Low Fees 2021
Making Crypto Simple
What makes us so sure of the crypto market’s resilience during these uncertain times?
While it’s true that the global financial market suffered a major crisis starting in March 2020, the Bitcoin (and the crypto market in general) has shown a speedy recovery. Instead of flopping, as feared by many experts, the most prominent digital assets have been mostly trading in the green.
This is just one reason why investing in cryptocurrency is more than profitable these days. Hopefully, it’s enough to spark your interest and get you moving. The first thing you need, of course, is a suitable Australian cryptocurrency exchange that checks all the boxes: user-friendliness, performance, variety of choice, security, and most importantly, low fees.
In this guide, we won’t focus on crypto exchanges that offer low fees at the expense of quality services, but on those platforms that maintain a high-level standard and still manage to keep their prices reasonable. Before we get started with our exchange reviews, let’s take into account the different crypto market fees.
|Exchange Website||Rating||Currencies||Available Cryptocurrencies||Fees||Our Review||Visit Site|
|5/5||USD & 6 Others||200+ Cryptocurrencies||0.075%||Poloniex Review||Visit Site|
|4/5||Crypto Only||40+ Cryptocurrencies||0.1%||Changelly Pro Review||Visit Site|
|3.5/5||USD & Others||70+ Cryptocurrencies||Varies||CEX.io Review||Visit Site|
|3/5||USD & Others||190+ Cryptocurrencies||0.2%||Bittrex Review||Visit Site|
|3/5||42+ Currencies||200+ Cryptocurrencies||0.1%||Binance Review||Visit Site|
|2.5/5||USD & Others||50+ Cryptocurrencies||0.26%||Kraken Review||Visit Site|
|2.5/5||EUR & Others||90+ Cryptocurrencies||Daily Fees||eToro Review||Visit Site|
|2/5||USD||30+ Cryptocurrencies||Varies||Coinbase Review||Visit Site|
|2/5||USD & Others||100+ Cryptocurrencies||0.2%||Bitfinex Review||Visit Site|
|2/5||USD||5+ Cryptocurrencies||1%||Gemini Review||Visit Site|
The Best Cryptocurrency Exchanges With the Lowest Fees – Reviews 2021
1. Poloniex Exchange
The first platform we’ll talk about is Poloniex, an American crypto exchange founded in 2014 by Tristan D’Agosta and headquartered in Wilmington, Delaware. For the first two years, the platform was steadily growing its client base but it wasn’t until 2016, when Poloniex became one of the first platforms to add support for Ethereum (ETH), that the exchange gained its momentum.
However, the lack of customer identity checks and more rigorous regulations resulted in a couple of security breaches. In 2018, the Circle company bought Poloniex and started working on improving its security infrastructure, delisting suspicious tokens, and adding mandatory KYC (Know Your Customer) checks.
Even though Poloniex got rid of the less-promising cryptos, it still offers a great variety of altcoins for purchase and trading. For a while, Poloniex used to offer crypto-to-crypto trades exclusively but has recently upped its game by partnering with Simplex. Now, users can buy crypto with credit/debit cards for 3.5% (an average fee for card purchases) or via bank transfer for only 0.5% per trade.
As for trading fees, Poloniex charges an incredibly low 0.125% fee for both makers and takers. This fee decreases in proportion to your trading volume which makes it a great choice for large-volume investments. For example, if your 30-day trading volume is between $50,000 and $1 million, the fee gets as low as 0.085% for makers or 0.09% for takers.
2. Changelly PRO Exchange
If you have some experience in the field, you might have heard a word or two about Changelly, a popular European platform that was founded in 2015 in Prague, the Czech Republic. The platform is known for its lack of geographical restrictions and wide variety of buying/selling orders, executed almost instantaneously.
In 2020, Changelly launched a new trading platform called Changelly PRO with a beginner-friendly yet sophisticated user interface and trading tools (candles, technical indicators, charts, etc). The platform features more than 80 trading pairs, including fiat currencies, and has a margin trading option with up to 10x leverage.
However, the best thing about Changelly PRO is that it charges superb trading fees. Starting at 0.1% for makers and takers alike, Changelly PRO even gives a large discount for above-average trades (over $50,000).
If you prefer buying crypto with fiat, Changelly PRO has a separate Fiat-to-Crypto Marketplace. This digital marketplace aggregates offers from the following third-party payment providers: Simplex, Indacoin, MoonPay, Wyre, and Coinify. The fees, payment methods, and withdrawal options differ among different partners, so make sure to choose one that fits your preferences best.
The Changelly PRO app is available for download on both Apple and Google Play Store and gives you an excellent option to trade cryptocurrencies on the move.
3. CEX Exchange
CEX.io is a reputable and widely used crypto exchange. Originally from London, UK, CEX.io has so far opened additional offices in a number of crypto trading centers: the US, Ireland, Ukraine, Cyprus, and Gibraltar. In the United States, the platform is off-limits to residents from New York and Texas, even though it complies with FinCEN regulations.
We can’t say that CEX.io supports an extensive range of digital currencies, but it still goes beyond offering only the “mainstream” ones like BTC, ETH, Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP). On this platform, you can find support for a couple of stablecoins and DeFi tokens: MTA, mUSD, SUSHI, CREAM, BUSD, YFII, REN, and BAND.
You can buy these coins with crypto or otherwise deposit USD, EUR, GBO, or RUB into your account via bank transfer, Epay, or use a debit/credit card. The fees for card payments are even cheaper than Poloniex’s – 2.99% per transaction. Conversely, trading fees are a bit higher, set at 0.25% for takers and 0.15% for makers, but if you’re a regular trader, you can get them down to 0.10% in no time.
4. Bittrex Exchange
Bittrex Global is an international crypto platform with a long-standing reputation. The exchange was created in 2014 by three cybersecurity experts and for a time, its services were limited to local crypto traders only. As Bittrex was becoming more and more popular, the team saw the need to rebrand as a global platform and even relocated its headquarters first to Malta and then to Liechtenstein.
Bittrex offers a variety of digital currencies for you to choose from. It also has a very straightforward fiat gateway with a long list of supported fiat currencies. This takes away the conversion costs. As for the payment method itself, you can make a bank transfer, SEPA deposit, or use your Visa/Mastercard for a 3% fee per purchase. The daily limits vary based on your location.
Currently, the transaction fee for both makers and takers is set at 0.75%. However, Bittrex uses the 30-day trading volume so this fee only applies for monthly volumes lower than $5,000. This tier is quite low and it won’t take you long before you’re eligible for a 0.5% or 0.35% fee.
Finally, this platform comes with custodial services and a multi-currency wallet available both on your PC and mobile devices.
5. Binance Exchange
Our list of crypto exchanges with low fees would be incomplete without one of the leading crypto players. We’re talking about Binance, the brainchild of Chinese developer Changpeng Zhao, located in Malta. This platform is available all over the world, apart from countries where crypto trading is banned. Moreover, US traders have recently been redirected to Binance.us, the company’s American subsidiary.
The first thing you’ll learn about Binance is that it tops the charts when it comes to daily trading volumes. The secret behind its success? Why, low trading fees, of course. All jokes aside, there are many things that add up to Binance’s appeal, affordable fees being only one of them. There’s extensive altcoin support, 400 trading pairs, advanced trading options (margin, futures), and superb customer support.
Binance has an attractive starting rate of 0.1%, regardless of whether you’re a maker or a taker. You can even get it to 0% as long as your trading volume continues to go in an upward direction. To top it off, Binance awards holders of its native token BNB, Binance Coin, with an additional 50% discount! Incredible, right?
If you want to be on the safe side when trading cryptocurrency, Binance has a special Secure Asset Fund for Users to which the platform allocates 10% of all daily fees. The main purpose of this money vault is to reimburse any potential losses caused by security breaches.
6. Kraken Exchange
Another crypto veteran coming from the United States, Kraken is a state-of-the-art crypto platform developed by former philosophy student and current cybersecurity whizz, Jesse Powell.
The platform supports around 50 different currencies, stablecoins and DeFi tokens included (e.g. EOS and Tether). However, we advise you to always check whether your place of residence is eligible for some of the lesser-known altcoins. You can buy these assets with all sorts of fiat payment methods – regular bank and wire transfers, SWIFT, SEN, Fedwire, Etana Custody, etc.
Naturally, different methods affect the cost of the transfer. For example, the online banking processing fee is 1.7% + $0.10, while card purchases are on the higher end of the scale with 3.75% + €0.25. Apart from USD and EUR, you can also deposit GBP, JPY, and CAD.
Kraken is yet another trading platform that makes use of the 30-day trading volume fee schedule. The starting fee for makers is 0.16%, with takers being charged 0.26% per trade. If your volume hits $500,000, your fee goes down to 0.08% and 0.18% respectively.
If you’re still considering whether this is the right platform for you, let us add that Kraken has a robust security system with features like two-factor authentication (2FA), a withdrawal whitelist, and a Global Settings Lock that prevents unauthorized IP addresses from making any changes to your account settings. Plus, up to 95% of users’ funds are kept in cold storage.
7. eToro Exchange
eToro is a very well-established and licensed brokerage that allows you to access different types of investments. Unlike the majority of the exchanges on our list, eToro started as a financial broker for dominant asset classes like stocks, indices, ETFs, CFDs, and even some commodities. It wasn’t until 2013 that eToro saw potential in crypto-oriented services.
At first, eToro only supported Bitcoin CFDs, which meant that crypto enthusiasts could only speculate on Bitcoin’s price without owning the asset itself. If their predictions turned out to be true, they would earn some capital, if not, they could lose their initial investment. A few years later, eToro diversified its offer with instant buys and sells on some of the most popular cryptocurrencies.
The good thing about eToro is that it charges zero deposit fees on USD deposits. All other currencies incur a 0.5% conversion fee. Now, based on the currency you’re interested in, eToro can be either quite affordable or unimaginably expensive due to its varying spreads. For example, at the time of writing, Bitcoin’s spread is 0.75% but Cardano (ADA) costs around 2.90%.
If you like to keep track of the market on the move, eToro has an easily navigable mobile app available for download on Android and iOS devices. This app doubles as a crypto wallet for the currencies supported by eToro.
8. Coinbase Exchange
If you talk to crypto traders from the USA and ask them what their favorite platform is, the most common answer would be Coinbase, an American platform created by Brian Armstrong and Fred Erhsam in 2012.
To begin with, this exchange is perfect for first-timers thanks to its clutter-free, user-friendly interface, non-stop high liquidity, and excellent security. It’s no wonder that so many traders have used this platform as their crypto kick-off as one of the goals of the Coinbase team is to popularize and simplify the use of digital assets worldwide.
One way they’ve achieved this is by offering affordable purchasing services, which is how Coinbase got its spot on our list. The exchange directly sells assets to or buys them from customers, similarly to financial brokers. The only cryptocurrencies available are BTC, BCH, ETH, and LTC.
In some parts of the world, traders might be able to exchange one crypto for another as well, but if cryptocurrency trading is your main interest, we suggest you take a look at Coinbase’s new exchange platform aimed at experienced traders, called Coinbase Pro.
Now, as far as deposit fees go, based on your location and payment method, Coinbase’s fees range from $0.99 to $2.99 per purchase, plus the spread (around 0.5% of the trade amount).
9. Bitfinex Exchange
Bitfinex is a digital asset exchange from Hong Kong, founded in 2012 – the early days of crypto. Unless your country has banned cryptocurrency trading altogether, you’re welcome to use this international platform to buy your favorite crypto.
Bitifnex’s list covers over 100 different cryptocurrencies that you can get with both fiat and crypto. Cryptocurrency and stablecoin deposits are free of charge but fiat purchases come with additional fees. For instance, bank transfers cost 0.1% per transfer.
The fee structure takes into account your monthly trading volume, with lower fees for high volume traders. At the top of the scale, we have 0.1% for makers and 0.2% which is definitely far from a rip-off. Bitfinex is a common choice for experts in the field who are knowledgeable enough to try riskier investment types, such as margin trading and staking.
Sadly, Bitfinex is off-limits for US traders since 2017. Local financial authorities claim this is due to regulatory problems and Bitfinex’s inability to comply with them. On the other, in their official announcement, the platform stated that the cut was bound to happen as the company was unable to provide banking services for its US clients.
US traders looking for a similar marketplace can visit Bitstamp instead.
10. Gemini Exchange
There’s no way we can wrap up our list without including the American platform Gemini. This platform turned out to be even more famous than its founders, the Winklevoss twins, whose popularity owes much to the fact that they won a lawsuit against Facebook in 2009. The brothers were shrewd enough to invest their money in Bitcoin, which in turn brought them enough capital to launch their own platform.
Gemini is headquartered in New York City and has obtained a license with the NYDFS. Moreover, this exchange has passed SOC 1 Type 1 and SOC 2 Type 2, two very distinguished security compliance exams. To maintain its security standards, Gemini also performs frequent security audits.
If this is your first time buying cryptocurrency, Gemini would let you deposit US Dollars or Euro via bank transfers or wire transfers. Unfortunately, cards aren’t supported yet. You can find excellent exchange rates for the following coins: BTC, BCH, LTC, ETH, and ZCASH.
The trading fee starts at 0.35% for takers and only 0.10% for makers. If you make an order via the website app, the convenience will cost you a 1.49% transaction fee.
Types of Cryptocurrency Exchange Fees
Regardless of the trading platform you’re using, the types of fees remain the same across the crypto market.
First of all, there are the deposit and withdrawal fees. As their name implies, deposit and withdrawal fees are fees you pay when you deposit crypto or fiat currencies to your exchange account in order to purchase your target asset or the fees you pay when you want to withdraw funds to your bank account or a third-party wallet. Different exchanges charge different fees based on the payment method, location, and currency (e.g. added charges for conversion).
The second type of fees are the so-called transaction fees or trading fees. The fee is equal for all trading pairs but it’s typically a bit higher for takers, while makers are awarded lower trading fees as an incentive to keep adding liquidity to the platform. For most crypto exchanges, this is the main source of income.
Finally, you might come across margin trading fees which are fees you pay when using the trading feature known as margin or leverage. This feature lets you borrow capital to invest more in your target coin by paying collateral first.
Frequently Asked Questions
Unfortunately, you can’t avoid cryptocurrency fees without pulling out a gimmick that might get your account suspended or worse, sanctioned. However, we can give you a few tips on how to minimize the fees instead. First, when choosing a crypto platform, eliminate the more expensive ones right from the start. Next, it’s important to know beforehand whether you’ll trade large volumes or only make occasional purchases. Some exchanges have very low or fixed/flat fees for institutional traders (exchanging millions worth of crypto), while others compensate on their higher trading fees with low or no deposit/withdrawal fees. Moreover, if you’re not in a hurry, always go for bank transfers instead of card purchases as the latter typically cost twice as much.
Yes, Coinmama is a respectable platform to buy and sell Bitcoin from but it doesn’t support Bitcoin trading as of yet. Instead, similarly to Coinbase, this platform offers only brokerage services. Coinmama clients are able to buy and sell the following crypto assets: BTC, BCH, ETH, ECH, XRP, LTC, ADA, and QTUM, but not trade them for one another. The main reason why we haven’t included it on our list is because of the high commission fee that reaches up to 3.99% of the trade amount. On top of that, card purchases have a 5% momentum fee. All things considered, Coinmama charges way above average fees.
Yes. Coinbase Pro is a newly launched trading platform, managed by the same team as its mother-platform Coinbase. The main difference between the two exchanges is that Coinbase Pro is better suited for those among you who prefer exchanging one crypto for another for the lowest market prices possible, instead of making small but profitable purchases on the most prominent cryptos. As mentioned earlier, Coinbase charges around 1.49% on regular bank transfers. Thanks to its scaled approach, Coinbase Pro’s fee sits at 0.5% at the time of writing. However, you need to keep in mind that this platform can be way out of the league for new users.
Although most cryptocurrency exchanges allow users to store their funds in their online/software wallets, there are also a number of platforms that are non-custodial. These platforms store no user funds but instead ask for the clients to provide a third-party crypto wallet address. Once the client completes their order, the platform sends the funds to this address. If you don’t like being responsible for the safety of your funds by keeping your private key someplace safe, or you don’t want to invest in a hardware wallet, we suggest you look for a secure custodial exchange that stores user funds in cold storage.