As the crypto market evolves with each passing day, the zero-fee exchanges are gradually rising to power. The prospect of buying and selling crypto, especially top-tier ones like BTC with little to no trading fees has significantly boosted the trading volume of such exchanges. In this article, we will delve a little deeper into this, present you with the Top 5 Zero-Fee Crypto Exchanges, and also on how to sell your crypto on them.
Top Zero-Fee Exchanges
There are over 1800 crypto exchanges out there. Most of them charge you with a hefty fee as part of the charges associated with the transaction. Only a select few ones won’t charge you with this fee. Here, we will discuss the top 5 cheapest crypto exchanges out there so that you can save your money on these so-called transaction fees.
1. MEXC
MEXC is a cryptocurrency exchange platform that provides its users with a variety of trading options including spot trading, futures trading, and even margin trading. MEXC is one of the leading zero-fee exchanges in the world. In fact, it doesn’t even charge makers or traders a single thing in the case of spot trading. As for security purposes, the exchange employs multi-signature wallets as well as cold storage for securing most of the user funds and also makes use of the PoR audit to secure the funds of the users.
Pros
- The exchange supports over 2500 cryptocurrencies.
- 0% fees on maker orders for spot and futures trading.
- Swift transaction & high liquidity factor.
- Tight security.
- User-friendly experience.
Cons
- Limited fiat withdrawals.
- Mexc is more suitable for frequent traders than casual investors.
- Not available for US traders.
2. Binance
Binance is a global cryptocurrency exchange that allows users to effortlessly sell and buy the cryptocurrencies of their choice. It is yet another top pick among the zero-fee crypto exchanges. The exchange does not charge users a finding fee, making it easy for them to start their investment careers. Also, Binance also features a no-fee convert system that allows users to effortlessly convert their crypto assets into fiat currencies or to other cryptos without incurring any transaction fees.
Pros
- Supports of over 350 cryptocurrencies.
- Little to no trading fees with added discounts.
- Multiple trading options and services.
- Highly secure and swift transactions.
- High liquidity rate.
- No fee for crypto-to-crypto conversions.
Cons
- Advanced features can be challenging if you’re new to crypto trading.
- Regulation problems in many countries.
- Some versions of Binance have limited features compared to others.
3. Phemex
Phemex is yet another exchange that allows users to buy, sell, and trade cryptocurrencies like BTC or ETH. Phemex also offers spot, contract, margin trading as well as derivative trading with respect to futures and perpetual contracts. Phemex is widely known for its low fee and high liquidity factor. The exchange also presents users with 3 premium membership plans so that users can enjoy additional benefits. The zero-fee trading model applies to large trading volumes. Premium users can trade even up to $1 million a day without incurring fees.
Pros
- Zero-fee spot trading is available with a premium plan.
- High liquidity factor.
- User-friendly interface.
- Over 275 cryptocurrencies are supported.
- Over 100x leverage for futures trading.
Cons
- The liquidity for some of the trading pairs is lower when compared to other exchanges.
- Customer support is sometimes found lagging.
4. Deribit
Deribit is a crypto trading platform that is widely known for its low-cost futures and options trading. It also employs a “no-charge” fee structure for the buying and selling of cryptocurrencies. Even for perpetual contracts, the rate of the taker fee is as low as 0.05%. The Deribit exchange offers a wide range of crypto trading products, but its primary focus still remains on BTC and ETH derivatives.
Pros
- More than 100 perpetual futures trading pairs.
- 0% fee for spot and 0% maker fee for futures.
- Have high-leverage trading available for BTC and ETH futures and options trading.
- High security.
- Has a simple yet powerful TradingView terminal that makes use of exceptional technical analysis tools.
Cons
- The liquidity associated with the spot market can be extremely low sometimes.
- Canada and the US are restricted.
5. Lykke
Lykke exchange is one of the top no-fee exchanges that allows you to securely trade your crypto assets. Founded in 2015 and based in Switzerland, the Lykke is one of the oldest crypto exchanges out there. As for the exchange’s security, it is backed by 2-factor authentication and cold storage wallets. The exchanges also comply with KYC and AML standards to protect the user’s money from fraud and money laundering schemes.
Pros
- No trading fees.
- Several ways to fund your account.
- Low buy-sell spreads.
- Supports over 200 crypto assets.
- Facilitates both crypto and fiat transactions.
Cons
- Only over 60 cryptocurrencies are supported for trading.
- Advanced features can be difficult to navigate for beginners.
How To Trade Your BTC With No Fees?
By utilizing these no-fee crypto exchanges, you can easily trade your BTC or any other cryptocurrencies without any associated fees. Here’s how to do so.
- Choose A Zero-Fee Exchange: Conduct research and choose a zero-fee exchange. Complete the verification and create an account in that exchange.
- Fund Your Account: Once the account is verified, it’s time to fund it. For this, click on the Deposit/ Fund button and then choose your preferred method of payment.
- Start Trading: Look for trading pairs that offer zero fees associated with BTC in this case. These will be often listed as “0&/maker/taker fees” or “fee-free trading”. Select the most appropriate option for you and then start trading.
Final Verdict
By eliminating transaction costs, the zero-fee exchanges are trying to bring forth a new revolution into the crypto world. It only saved the money of a lot of traders but has also helped in attracting retail investors and traders to these exchanges. Out of them, the top no-fee exchanges include Binance and MEXC.
Not only do they eliminate transaction costs, but they also manage to make it easier for numerous traders to trade in their assets through their robust trading methods and security measures. However, if you’re considering switching to these zero-fee exchanges, then you should take into account various factors like liquidity and security features of the exchange before you start trading.
