Cryptocurrency trading has become more accessible thanks to the rise of zero-fee exchanges. These platforms allow you to buy and sell digital assets without paying trading fees. This guide will explore the best zero-fee crypto exchanges that let you trade crypto for free.
We’ll look at how these no-fee crypto platforms work. Whether you want to buy bitcoin without fees or trade other cryptocurrencies, these exchanges offer a cost-effective way to enter the market. We’ll compare their features, security measures, and user experiences to help you choose the right platform.
Key Takeaways:
- The best zero-fee crypto exchanges are MEXC, Binance, Lykke, Phemex, and Deribit, each offering unique features and low or no transaction costs.
- MEXC is our top no-fee trading platform, providing 0% fees for spot and futures trading with a wide range of supported new altcoins.
- When choosing a no-fee crypto trading exchange, consider factors like security, supported coins, user experience, and deposit/withdrawal methods.
Best No-Fee crypto Exchanges and Trading Platforms: Our Top Picks
We have reviewed more than 15 cheapest crypto exchanges and compared them based on their fees, trading features, security measures, user interface, and more. Here is our list of the top 5 zero-fee crypto exchanges:
- MEXC: Zero maker fee crypto trading platform
- Binance: Cheapest fiat-to-crypto exchange
- Lykke: No-fee cryptocurrency exchange in the UK
- Phemex: Lowest transaction fee crypto exchange
- Deribit: Buy bitcoin without fees in the spot market
1. MEXC: Zero Maker Fee crypto Trading Platform
<img class="alignnone" src="https://technicalterrence.com/wp-content/uploads/2024/08/5-Best-Zero-Fee-Crypto-Exchanges-to-Buy-Bitcoin-in.png" alt="MEXC: Zero Maker Fee crypto Trading Platform” />
MEXC stands out as a leading zero-fee crypto exchange in the digital asset market. For spot trading, both makers and takers enjoy 0% fees, making it truly cost-free to buy and sell cryptocurrencies. Futures traders also benefit from competitive rates, with 0% maker fees and a low 0.01% taker fee.
Founded in 2018, MEXC has grown rapidly, serving 10 million users globally. The exchange supports over 2,500 cryptocurrencies, giving traders a wide range of altcoins and niche tokens. It also provides access to spot, futures, margin, and copy trading. MEXC’s user interface is designed to be user-friendly, making it easy to navigate for traders at all levels.
For security, the exchange employs multi-signature wallets, cold storage for most user funds, and PoR audits to protect user assets. It also offers two-factor authentication (2FA) and anti-phishing codes to enhance account security. You can read our complete MEXC review for a detailed overview.
Pros of MEXC
- 0% fees for spot and futures makers, with very low taker fees
- Supports a wide range of cryptocurrencies
- Fast transaction speeds and high liquidity
- Strong security measures
- User-friendly interface, suitable for all experience levels.
Cons of MEXC
- Limited fiat deposit and withdrawal methods
- Not available for U.S. traders
2. Binance: Cheapest Fiat-to-crypto Exchange
<img class="alignnone" src="https://technicalterrence.com/wp-content/uploads/2024/08/1723730732_106_5-Best-Zero-Fee-Crypto-Exchanges-to-Buy-Bitcoin-in.png" alt="Binance: Cheapest Fiat-to-crypto Exchange” />
Binance is another top choice among zero-fee crypto exchanges. The exchange charges no deposit fees, making it easy for users to fund their accounts. Binance also offers a no-fee “Convert” feature. It allows you to convert between fiat-to-crypto, or between crypto-to-crypto, with zero fees. This means you can easily swap bitcoin (btc) for Tether (USDT) or vice versa without incurring any transaction costs.
For spot crypto trading, Binance charges a competitive fee of 0.1% maker/taker. However, the exchange provides additional incentives for users. Holders of Binance Coin (BNB), the platform’s native token, receive a 25% discount on trading fees. High-volume traders can enjoy even lower fees, with discounts increasing based on trading activity and BNB holdings.
Founded in 2017, Binance has quickly become the world’s largest cryptocurrency exchange by trading volume. As of 2024, it handles over $20 billion in daily trading volume and boasts more than 210 million registered users worldwide. Here is our full Binance review.
Pros of Binance
- Low trading fees with additional discounts
- SAFU insurance fund
- Advanced security features, including 2FA and cold storage
- High liquidity, ensuring fast trades and zero price slippage
- Extensive range of products, including spot, futures, and staking
Cons of Binance
- Separate Binance.US platform for U.S. users with fewer trading features
- Advanced features can be challenging for beginners
3. Lykke: No-Fee Cryptocurrency Exchange in the UK
Lykke is the cheapest crypto exchange in the UK that offers an attractive trading portal with no commissions on swaps and trading. This platform allows you to trade bitcoin and ethereum without worrying about the typical fees that can eat into your profits. Lykke’s fee-free structure applies to both taker and maker fees.
One of the key benefits of using Lykke is the low spreads between buy and sell prices. This ensures that you can execute trades close to the actual market price. Additionally, Lykke provides zero fees for fiat deposits and withdrawals. The exchange supports a variety of fiat currencies, including EUR, CHF, GBP, and USD, and allows direct bank transfers for deposits and withdrawals.
Lykke also offers solid liquidity and top-notch security, complying with KYC and AML standards. You can access Lykke’s services in over 120 countries, making it a globally accessible platform for crypto trading.
Pros of Lykke
- No trading fees, making it cost-effective for all users
- Low buy-sell spreads
- Supports both cryptocurrency and fiat transactions
- Offers high-frequency and algorithmic trading support with robust API integration
- Provides 24/7 customer support and adheres to KYC and AML compliance
Cons of Lykke
- Only 20 cryptocurrencies are supported for trading
- Lacks advanced features like staking or lending
4. Phemex: Lowest Transaction Fee crypto Exchange
<img class="alignnone" src="https://technicalterrence.com/wp-content/uploads/2024/08/1723730734_412_5-Best-Zero-Fee-Crypto-Exchanges-to-Buy-Bitcoin-in.png" alt="Phemex: Lowest Transaction Fee crypto Exchange” />
Phemex is another prominent zero-fee cryptocurrency exchange in the digital asset market. This platform operates on a unique no-fee model that eliminates trading fees for its premium members. Instead of charging per transaction, Phemex offers a subscription-based service.
You can choose from three premium membership tiers: monthly at $9.99, quarterly at $19.99, or annually at $69.99. Premium members enjoy several benefits beyond fee-free trading. They can make hourly withdrawals without limits and set conditional spot orders. The zero-fee trading model applies to substantial trading volumes. Premium members can trade up to $1 million daily and $5 million monthly without incurring fees. Trades exceeding these thresholds are subject to a standard 0.1% fee.
Phemex also supports zero-fee crypto deposits and fiat deposits through SWIFT, ACH, SEPA, and FPS. The exchange has the lowest 0.8% fees for credit and debit card purchases. It supports all popular cryptocurrencies and offers both spot and derivatives trading. Phemex also provides educational resources and a user-friendly interface, making it accessible to traders of all experience levels.
Pros of Phemex
- Zero-fee spot trading available with a premium membership
- High-leverage futures trading, up to 100x
- User-friendly interface with a quick sign-up process
- 24/7 customer support with a responsive team
- Supports a wide range of cryptocurrencies for trading
Cons of Phemex
- Lower liquidity for some trading pairs compared to larger crypto exchanges
- Customer support can be slow sometimes
5. Deribit: Buy bitcoin Without Fees in Spot Market
<img class="alignnone" src="https://technicalterrence.com/wp-content/uploads/2024/08/1723730734_895_5-Best-Zero-Fee-Crypto-Exchanges-to-Buy-Bitcoin-in.png" alt="Deribit: Buy bitcoin Without Fees in Spot Market” />
Deribit is generally known for low-cost futures and options trading. But, the exchange also supports zero-fee spot trading. On the spot market, Deribit charges 0% maker and 0% taker fees, ensuring that traders can buy and sell cryptocurrencies without incurring any additional charges.
For perpetual futures contracts, Deribit maintains highly competitive rates. Traders benefit from 0% maker fees, encouraging liquidity provision on the platform. Taker fees for these contracts are set at a low of 0.05%.
Deribit offers a range of crypto trading products, focusing primarily on bitcoin and ethereum derivatives. The exchange boasts an impressive lineup of futures and options contracts, attracting both experienced traders and newcomers to the crypto derivatives market.
Pros of Deribit
- High-leverage trading on bitcoin and ethereum futures and options
- Very low trading fees, with rebates available for market makers
- 104+ perpetual futures trading pairs
- Fast and reliable trading engine with instant order execution
- Position Builder, Deribit Metrics, and other top-notch analytic tools
Cons of Deribit
- Canada and the United States are restricted
- Limited liquidity in the spot market
Top Zero Fee crypto Exchanges Compared
| Exchange | Our Rating | Zero-Fee Feature | Supported Coins | Additional Features |
| MEXC | 9.5/10 | 0% for spot and futures makers | 2,500+ | Perpetual futures trading, copy trading, and staking services |
| Binance | 9/10 | No-fee crypto-to-crypto convert | 400+ | Launchpad, derivatives market, options trading, Binance Pay |
| Lykke | 8.5/10 | Zero trading fees and low buy-sell spreads | 20+ | Licensed in the EU, low spreads, and Lykke Wallet |
| Phemex | 8/10 | 0% fee for premium members | 275+ | Web3 portal, Launchpool, mock trading, trading bots, and more |
| Deribit | 7.5/10 | 0% for spot and 0% maker fees for futures | 41+ | Futures and options trading |
How to Choose the Best No-Fee Exchange?
Choosing the best no-fee crypto exchange requires careful consideration of several factors:
- Zero-Fee Buying and Selling: The exchange must support no-fee crypto trading. You can check for its trading fees, deposit fees, withdrawal fees, or service fees.
- Security Measures: Look for platforms that use cold storage, offer two-factor authentication, PoR transparency, and have a strong track record of protecting user funds.
- Reputation: Read reviews and check if the exchange has a history of good customer service and reliability. Trusted exchanges are less likely to have issues.
- User Experience: Choose an exchange with a user-friendly interface. It should be easy to navigate, especially if you are new to trading. Look for clear instructions and helpful resources.
- Variety of crypto Assets: Ensure the zero-fee crypto exchange offers the digital assets you want to trade. Some exchanges have a wider range of coins and tokens than others.
- Liquidity: High liquidity means you can buy or sell assets quickly without affecting the market price too much. This is important for getting fair prices and completing trades swiftly.
- Deposit and Withdrawal Options: Check the methods available for depositing and withdrawing funds. Look for options that are convenient and have low or no fees.
How To Trade crypto With No Fees?
Here’s how to trade crypto with no fees:
- Choose a Zero-Fee Exchange: Start by creating an account on a crypto exchange that offers zero-fee trading or zero-fee markets, such as MEXC, Binance, or Deribit. These exchanges are known for providing various trading pairs with no fees or very low crypto trading fees.
- Complete KYC: KYC stands for “Know Your Customer”. This process helps exchanges comply with regulations and prevent fraud. Submit the required documents, which typically include a government-issued ID (passport or driver’s license) and proof of address (utility bill or bank statement).
- Deposit funds: Once your account is verified, navigate to the “Deposit” or “Funds” section. Choose your preferred deposit method (bank transfer, credit card, or cryptocurrency). Follow the instructions to transfer funds to your exchange account. Be aware of any deposit fees or minimum deposit amounts.
- Trade crypto without fees: Look for trading pairs that offer zero fees. These are often listed as “0% maker/taker fees” or “fee-free trading”. Place your order using the exchange’s trading interface. Choose between market orders (instant execution at current price) or limit orders (execution at a specific price). Monitor your trades and adjust your strategy as needed.
Conclusion
In a nutshell, zero-fee crypto exchanges have revolutionized cryptocurrency trading by eliminating transaction costs, making it easier for individuals to enter the market. These no-fee trading platforms, such as MEXC, Binance, Deribit, Phemex, and Lykke, offer various benefits, including cost-effective trading, robust security measures, and user-friendly interfaces.
However, it is essential to consider factors like liquidity, supported cryptocurrencies, and security features when choosing the best zero-fee platform for trading.
FAQs
How do zero-fee exchanges work?
Zero-fee trading crypto exchanges operate by employing alternative revenue models to compensate for the absence of trading fees. They might earn income from services like margin trading, withdrawal fees, listing fees, or other premium features offered on the platform.
Some centralized exchanges make money by taking a small spread between the buy and sell prices of assets. Others use a maker-taker model where market makers receive rebates for providing liquidity, while takers pay a small fee. Plus, zero-fee exchanges might generate revenue through partnerships, listing fees for new cryptocurrencies, or by offering ancillary services such as lending or staking.
Are no-fee crypto trading exchanges safe?
Yes, no-fee crypto trading exchanges are safe to use. Safety depends on the exchange’s security measures, such as two-factor authentication, cold storage for funds, and encryption protocols.
While the absence of trading fees is appealing, it doesn’t necessarily indicate a lack of security. Some exchanges use zero-fee trading as a strategy to attract more users and increase liquidity, rather than compromising on safety.
What are the best places to trade crypto without fees?
Some of the best places to trade crypto without fees include MEXC, Binance, and Lykke. MEXC offers zero fees for both makers and takers in spot trading, making it a top choice for cost-conscious traders.
Binance provides a no-fee “Convert” feature, allowing users to swap between cryptocurrencies without any transaction costs. Lykke, a UK-based exchange, also offers fee-free trading for both crypto and fiat transactions, with the added benefit of low spreads between buy and sell prices.
Which crypto exchange has the lowest bitcoin trading fees?
MEXC is known for offering some of the lowest bitcoin trading fees in the market. For spot trading, MEXC provides a true zero-fee experience for both makers and takers, meaning you can buy and sell bitcoin without any transaction costs.
This makes MEXC an attractive option for traders looking to minimize their expenses. Plus, MEXC offers low fees for futures trading, with a 0% maker fee and a minimal 0.01% taker fee.
The post 5 Best Zero Fee crypto Exchanges to Buy bitcoin in 2024 appeared first on nft Evening.
