How to Find Low-Fee Exchanges

By | April 30, 2021

Exchanges don’t have a single standard they live or work by. They charge different fees for providing services, and every user has unique needs when they purchase cryptocurrency.  

So, this article looks into different exchanges, their fees, and other details. Let’s get started!

Defining Low-Fee Exchanges

Some Platforms to Choose from

Godex

Binance

Kraken

Coinbase

How the Exchange Process Works on Godex

Final Say

Defining Low-Fee Exchanges

Some exchanges take very small percentages of transactions. Some even have a 0% fee. The problem is that they might have poor security or other types of complications. So you must consider these sides of the exchanges and study them before transacting.

Some Platforms to Choose from

Godex

The Godex exchange is one of the fastest in the crypto market with an order execution time between five minutes and 30 minutes, and it’s considered the cheapest Bitcoin exchange. The reliability of this service depends on the physical protection of the servers and modern security protocols. Godex.io also offers over 200 coins and doesn’t have any exchange limits. It offers the lowest fees among other exchanges. 

Additionally, the services are anonymous, and it has an adequate level of security.

Binance

This is one of the largest exchanges in the world. It provides users with a cheap way to trade different coins, including very rare ones. They focus on coins that aren’t very popular and help them secure good positions in the crypto market. Trading in lesser-known coins that are more volatile has huge potentials (and risks). 

This exchange is well-known and very secure. The fees are only about 0.1% (with the average being 0.05%).

Kraken

This is also one of the cheapest crypto exchanges. It is a very popular crypto trading platform with a huge reputation for being reliable and secure. 

The exchange fee is typically between 0% and 0.26%, and it depends on numerous factors. With 0.26%, you’ll be making a minuscule payment for your trade. This platform is large and well-known with over 150 coins, and it is also very secure.

Coinbase

This is the leading exchange in the US. It offers a large range of products such as advanced trading platforms, crypto investing, institution custodial accounts, retail investors’ wallets, and a stable coin. 

It charges low for trading crypto, with the fee typically between 1.49% and 3.99% (which is still quite high compared to other platforms mentioned earlier). However, it is also secure and has good customer support.

How the Exchange Process Works on Godex

  • Choose your currency pair: If you’re exchanging ETH for BTC, for instance: go to the You Send field, choose ETH, and put the number of coins in it. Then select BTC in the You Get field. This will automatically calculate the amount of the currency you get. Then click Exchange.
  • Enter wallet address: Put your wallet address in the Destination address. Also fill in the sender address with your ETH address, in case of a refund.
  • Wait for deposit: Send the ETH coins to the deposit address. The exchange process starts as soon as they receive the deposit.
  • Commit exchange: The exchange does all the work and sends your coins to the designated address within a few minutes.

Final Say

In summary, be sure to always review the fees at whichever exchange you’re using. Take into consideration the volume of the trade too. On sites like Godex, the exchange process is fast and simple.

 

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