There are quite a number of crypto exchange platforms out there. Gone are the days when the options were limited; now, the choice can be overwhelming. This could challenge newbies and pros alike as everyone wants the best deal for themselves. According to SoftwareTestingHelp, “The best crypto exchanges to work with are those with a wide variety of crypto for trading, low fees for credit and debit cards (3% or below), and fast order execution.”
5 Best Low Crypto Exchanges
- Huobi Global
It may not be easy to tag just one exchange as the best, but we have narrowed down our options to cover those with low transaction fees for this article.
Binance is one of the biggest exchanges in the world. It processes about 42 billion dollars in daily volume and works in almost all countries except those under sanctions.
There are some other versions of the Binance exchange. These versions are restricted to countries like Singapore, Uganda, the U.S., etc. They differ from Binance.com, the global exchange supported in most countries.
- Binance has over 300 coins listed on its platform. It ranges from the prominent ones like Bitcoin, Ethereum, BNB to several altcoins worth getting.
- Binance gives access to the most extensive crypto spot market, advanced trading tools, the ability to trade on margin and an Over the Counter (OTC) service for better pricing.
- It supports a range of deposit options for various currencies, including bank transfers, Visa and MasterCard payments.
- It has a two-factor verification, and in case any issue or complaint arises, it provides a 24/7 customer support system.
- It has a mobile application that supports all kinds of mobile phones.
Trading fee: Binance has a 0.1% maker (buying or selling using the limit order function) and taker (buying or selling using the market order function) fee for less than 50 BTC. If payment is made with BNB, you get another 25% off the fee. Also, a higher volume of trading attracts further discounts.
As a global cryptocurrency exchange launched in 2017, KuCoin provides 8M+ users access to 400+ digital assets. It has an average trading volume of about 2 billion dollars per day.
According to Cryptonews.com, it has developed an impressive suite of crypto services, including the fiat onramp, futures and margin trading exchange, passive income services such as staking and lending, peer-to-peer (P2P) marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and much more.
- KuCoin has close to 300 coins available. Much similar to Binance, it supports a wide variety of assets.
- In addition to offering a P2P fiat trade, KuCoin also allows credit or debit card payment via PayMIR, Simplex, Banxa, and Banxa, or its Fast Buy service.
- It offers futures and margin trading that allows you to go long or short with 100x leverage.
- Trading here relies on U.S. dollar stablecoins (USDT), not on fiat currency.
- It provides bank-level security and excellent customer support service for its users.
- It has a mobile application for Android and iOS users.
Trading fee: KuCoin offers a relatively low fee compared to other exchanges. It has a 0.1% maker and taker fee for less than 50 BTC. Although KuCoin can decrease its trading fees by 20% by paying with KuCoin’s proprietary stablecoin (KCS). KuCoin’s biggest competition is Binance. However, it has an institutional investor program whose participants can get significant trading fee discounts.
Founded in San Francisco in 2011, Kraken is a crypto exchange supporting individual and institutional traders. It has customers in 185 countries, including the United States. Investopedia describes Kraken as one of the oldest Bitcoin exchanges, and it supports more than 50 different coins to buy, sell, and trade with competitive exchange fees. In addition, it’s notable for supporting spot trading at current market rates and cryptocurrency futures.
- Kraken has a decent volume of 2 billion per day.
- It has over 90 coins listed, including stablecoins like Tether, Dai, USDT.
- It offers margin trading with up to five times leverage.
- It allows for fiat currency funding with U.S. Dollars (USD), Euros (EUR), and Canadian Dollars (CAD), all with minimal fees; Depositing funds with CAD and EUR SEPA is free. It also allows for crypto funding with recognized coins.
- It offers Cryptowatch, a trading terminal that analyzes and generates data on over 2,000 cryptocurrency markets.
- It has a remarkable security track record and excellent customer service that works 24/7.
- It has a high daily transaction limit.
Trading fee: Kraken has one of the lowest trading fees out there. For trades that are less than 50,000 dollars per month, 0.16% maker fee or 0.26% taker fee is charged.
Poloniex is a centralized cryptocurrency exchange for professionals and amateur traders of cryptocurrencies. Traders from all walks of life can take advantage of the number of crypto markets and advanced trading types it offers, as well as margin trading and crypto lending.
Poloniex began operations in Delaware, USA, in January 2014. Immediately after its launch, Poloniex was hacked in March 2014, losing 12% of its BTC. However, management of the exchange reacted to the hack openly and offered full reimbursement for the stolen bitcoins out of the company’s profits. As a result, the company recovered after the shaky start, and it remains one of the popular exchanges. This exchange restriction only applies to Cuba, Iran, North Korea, Sudan, Syria and The United States.
- Poloniex has over 60 coins listed, including the most popular coins in the crypto space.
- In addition to spot trading, you can also conduct low fee margin trades with up to 2.5x leverage.
- It offers margin lending to earn passive income by lending your crypto assets and making interest on them.
- Sign up is pretty easy as you are only required to provide your email and begin trading.
- It is high on security and considered a safe exchange despite past events.
- Poloniex does not support fiat trades and deposits.
Trading fee: Poloniex fees is one of the lowest in the market. It charges for placing spot and margin trades and cryptocurrency withdrawals. For transactions less than 50,000 dollars, it demands a maker and taker’s fee of 0.09%.
Huobi Global, which has been serving since 2013, has very low commission fees like Binance. The commissions you have to pay on the exchange are determined by the amount of Huobi Token, or HT, that you hold. The commission fees applied by the Huobi Global exchange vary between 0.2 and 0.07 percent. There are 7 different levels that the exchange prepares when creating commission fees. The list of commission fees applied by Huobi Global exchange is as follows:
- LVL 1 – HT amount less than 10 – 0.2 taker and 0.2 maker.
- LVL 2 – HT amount higher than 10 – 0.18 taker and 0.18 maker.
- LVL 3 – HT amount higher than 100 – 0.16 taker and 0.16 maker.
- LVL 4 – HT amount higher than 500 – 0.12 taker and 0.12 maker.
- LVL 5 – HT amount higher than 1000 – 0.09 taker and 0.09 maker.
- LVL 6 – HT amount higher than 2000 – 0.08 taker and 0.08 maker.
- LVL 7 – HT amount higher than 5000 – 0.07 taker and 0.07 maker.
The commission fees of the Huobi Global exchange are very close to the Binance exchange, as seen in this list.
Apart from considering the fees of the exchanges, there are other essential factors worth looking out for. Some are; the coins available for trading, security of the exchange platform, user experience, volume and liquidity, trading features, the reputation of the exchange, etc. So naturally, the best ones take into cognizance all of these factors.
Steve is a cryptocurrency researcher. After completing his master’s degree in economics, he delved into the world of cryptocurrencies. After completing his 5 years of education in London, he worked as an audit specialist in a financial company. He is currently producing exclusive content for coinews.io.