What are the fees on the crypto platform u are trading?

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legendary

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Quote from: TheUltraElite on January 15, 2020, 02:30:39 AM

You may wish to cheap out but for that you have to go around checking out other exchanges and this will not be a easy road to take. You will find other problems and issues with another exchange that were not present with Binance and then decide to not use that.

This. I find it so stupid that people keep looking for a cheaper exchange and that while they aren't even high volume traders. Who cares if you pay a penny or two more in fees by using Binance? In return for the two pennies more you get to use an exchange that's reliable, has high liquidity, and won't likely perform an exit scam.

Also, people are always complaining about poor support and whatnot, well, most exchanges (which are usually crap already) with low or no fees offer horrible customer support service. I once saw someone complain on Twitter posting a screenshot where half of what the support wrote (after a month!) to the dude was in broken English. Cheesy

Pay shit get shit.

NeuroticFish

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Just for the record, Poloniex is also under 0.1% (just beware, they're in Seychelles now).
Also you guys should have been starting with checking the list from https://bitcointalksearch.org/topic/crypto-exchanges-comparison-trade-fee-listing-fee-age-mobile-app-more-5079048

However, Binance does have pretty low fees, doesn't require KYC and has good liquidity, so I think that OP should remain there.
Edit: Also OP can use a simple affiliate for Binance and already recover at least 10% of those fees.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: BitcoinsGreece on January 12, 2020, 11:49:09 AM

I am personally using Binance and the fees are 0.1% if u trade under 50 BTC /month . Is there a cheaper alternative ?

You have to pay some fees because the exchange needs to pay its employees. You may wish to cheap out but for that you have to go around checking out other exchanges and this will not be a easy road to take. You will find other problems and issues with another exchange that were not present with Binance and then decide to not use that.

If you are going to trade on any exchange you should pay them some coins in return. Because they are providing a service and that is the point. You may find a very cheap exchange but this raises suspicions of scam.

Kyraishi

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Quote from: BitcoinsGreece on January 12, 2020, 11:49:09 AM

I am personally using Binance and the fees are 0.1% if u trade under 50 BTC /month . Is there a cheaper alternative ?

Not unless you either
a) Qualify for a higher trading volume fee concession
b) Use an exchange that is just starting out that has a temporary fee discount (you'd be sacrificing spreads, since there is little to no liquidity on these markets)
c) Use a derivatives exchange where you can get maker fee rebates

At the end of the day, 0.1% per trade is more than enough for my personal use. You probably will get ripped more by their 0.0005 BTC withdrawal fee than their actual trading fees.

figmentofmyass

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this is how i cope with coinbase's high fees:

Quote from: figmentofmyass on January 08, 2020, 07:08:36 PM

to hedge BTC/USD value i usually trade USDC on binance/kucoin. when i want to cash out, i transfer USDC to coinbase pro and convert to USD. that saves me 0.4% per trade.

Quote from: alyssa85 on January 14, 2020, 06:27:48 AM

I use Kraken where the maker fee is 0.12% and the taker fee is 0.22%

I don't think there are any reputable exchanges with extremely low fees.

that's kraken's 3rd volume-based tier. their fees actually start at 0.16% maker + 0.26% taker. https://www.kraken.com/en-us/features/fee-schedule

still way cheaper than fiat exchange competitors like coinbase/gemini, but significantly more expensive than binance. i'm impressed that binance.us also capped fees at 0.1% given that they are a full-fledged licensed fiat exchange in the USA.

alyssa85

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Quote from: BitcoinsGreece on January 12, 2020, 11:49:09 AM

I am personally using Binance and the fees are 0.1% if u trade under 50 BTC /month . Is there a cheaper alternative ?

I use Kraken where the maker fee is 0.12% and the taker fee is 0.22%

I don't think there are any reputable exchanges with extremely low fees.

The exchange would need huge volume to be able to be profitable at a lower fee, and the volumes just arn't there anymore. Lots of exchanges expanded in the 2017/2018 spike, and then the volumes fell away, leaving them with a lot of staff and fixed costs and falling revenue.

hugeblack

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Quote from: BitcoinsGreece on January 12, 2020, 11:49:09 AM

I am personally using Binance and the fees are 0.1% if u trade under 50 BTC /month . Is there a cheaper alternative ?

Feeing is one of the factors that should be taken into account when deciding to use a platform but it is not the only factor as it is linked to many factors that make the discussion about fees as a "single factor" is a waste of time.

What is your country? Which currencies would you like to trade? How much money do you invest in?

In general, Binance is the best platform (according to many factors.)

MURONDI

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Generally 0.1% trading fee, I think that is not a problem for most traders, because the most important thing is that the exchange has a good reputation, usually new exchanges will offer promotions with low trading costs or even free, but must be careful when registering on a new exchange or one that does not yet have a reputation.

crairezx20

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Did you try to check Okex exchange they also have lower fees if you can take VIP the higher user position the lesser fee.
You can check their page for fees here https://www.okex.com/products/fees.html

The lowest fee is around 0.03% which is cheaper than Binance.
But I heard that you can get a cheaper fee from Binance if you hold BNB as their promo.

tenakha

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Stex may be what you are looking for, the fee will be %0.5 if you complete the third level verification. But, there are also accusations about it in the scam accusation section. Actually, it is not a big issue, but the best is to be careful. Therefore, I suggest that do not leave Binance. If you search the average, you will see that their fees are lower than the average.

exstasie

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Quote from: leowonderful on January 12, 2020, 11:57:38 AM

I use Binance as well, and another exchange that I use is KuCoin that has fees starting below 0.08% and dropping lower as you start trading more volume. Not much a difference percent wise and it doesn't amount to a whole lot for most people, but it's certainly lower.

Actually, Kucoin fees start at 0.1% maker/0.1% taker, exactly the same as Binance. To get 0.08% fees you need to pay trading commissions using Kucoin shares (KCS). This is what the lowest tier looks like:

Quote from: leowonderful on January 12, 2020, 11:57:38 AM

I'm sure there's also a lot more smaller and obscure exchanges that offer lower fees out there, but I'm glad to pay higher fees for trading on an exchange that I know is reputable and has a history of doing things correctly.

100% agreed. I feel like Coinbase Pro is gouging me at 0.5% but I'm happy to use reputable exchanges like Binance or Kucoin at 0.1%. Aiming lower than that and you're probably dealing with some pretty dubious businesses.

panganib999

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I as well use Binance and I believe it's already the one with the lowest fees out there? If you take into account all the reputable ones that is. If you want one with rebate, take HitBTC, or if you don't want any fees, just trade locally. Find a group ( Goodluck with that) and try your luck and see if there are any peer to peer traders in there. If your trading with bank transfers, Coinbase could be a good choice.

leowonderful

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Bitcoin FTW!

I use Binance as well, and another exchange that I use is KuCoin that has fees starting below 0.08% and dropping lower as you start trading more volume. Not much a difference percent wise and it doesn't amount to a whole lot for most people, but it's certainly lower.

I'm sure there's also a lot more smaller and obscure exchanges that offer lower fees out there, but I'm glad to pay higher fees for trading on an exchange that I know is reputable and has a history of doing things correctly.

BitcoinsGreece

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I am personally using Binance and the fees are 0.1% if u trade under 50 BTC /month . Is there a cheaper alternative ?

Topic: What are the fees on the crypto platform u are trading? (Read 134 times)