No one likes paying fees right?
It was one of the most appealing reasons to get into cryptocurrency personally and I think it is a driving factor for a lot of people. I was looking at some of my bank fees the other day and I can’t believe that they charge me $15 a month just to hold my money!!!
Is that crazy to anyone else? They are holding my funds, making money off of the investment, and giving almost nothing back in interest. Regardless of who you bank with, you will run into some fees. The same can be said about crypto, but the fees are generally lower.
I put together my top 5 exchanges with the lowest fees for 2017.
I have traded on all of these (except Poloniex) and I know they are solid platforms.
Lowest Fees / Trusted Exchange
GDAX —
While GDAX only focuses on the big 3 (Bitcoin, Ethereum, Litecoin), the fees are a standard 0.25% taker & 0% maker type structure. The advantage that I give to GDAX is that it is connected to Coinbase which gives you some great ease of use in transfer of funds to an exchange account with no fee at all.
CEX.io —
The UK based CEX.io makes the list because while most of the exchanges here have a standard fee of 0.25%, CEX.io only charges 0.20% per trade! That combined with a solid user interface make it a winner in my book.
Poloniex —
One of the most popular exchanges, Poloniex offers a ton of coins to trade and is built on rock solid technology. They have a 0.25% taker & 0.15% maker fee. This is the only exchange out of my top 5 I don’t have any experience trading on though
Kraken —
My California favorites! This exchanges platform is a little more complicated to figure out, and while their fees are slightly higher then the rest (0.26% taker/0.16% maker) they are a trusted platform and if you do some decent volume of sales you can get those fees reduced a lot.
Bittrex —
Another big US player in the exchange market is the Las Vegas based Bittrex. They have an across-the-board 0.25% fee for trading and do a ton of volume.
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