We offer you to compare commissions on various crypto exchanges, as well as other facts that may affect your final choice of where to start buying or selling cryptocurrencies.
To start with, let’s examine what the platform’s stores are required for, which give intermediary assistance in the area of purchasing and trading cryptocurrencies. The important points are:
- commission for placing cryptocurrencies on the account;
- commission for withdrawing funds from the account;
- commission for those who create an order (maker order) with an execution price different from the current one on the market, and which will be executed in the future;
- commission for those who create an order (taker order) with an execution price that corresponds to the current market price and which is being executed at the current moment.
Among the trends in the market, it is worth noting that the commission for a taker order is usually lower, since crypto exchanges stimulate the appearance of orders like in white label cryptocurrency exchange, thanks to which more funds invested in it potentially appear on the market, that is, there is, as they say, in this case, more liquidity.
Before paying attention to the size of commissions in the market, it is worth remembering: the choice of a site to buy or sell cryptocurrencies is not only a matter of numbers but also several other factors, including the topic of asset security and the reliability of personal data storage.
Coinbase Pro
Coinbase Pro is one of the world’s leading and most popular cryptocurrency platforms in the United States, considering those registered in that country. If we talk about more than just the size of commissions, American citizens of the United States are familiar with the fact that Coinbase sends them forms to fill out tax returns to the IRS (Internal Revenue Service).
The amount of commissions is shown in the table below. The placement of cryptocurrencies and the withdrawal of funds in cryptocurrencies are not subject to commission. If the client uses the “European SWIFT” service represented by SEPA, the commission will be 15 euro cents.
Binance
The crypto exchange is registered in Malta and is the largest in terms of turnover in the world, with a daily trading volume of about $ 1 billion as of August 21, 2019. This site was even more popular in the United States than Coinbase, until Binance decided to create a separate site for working with American citizens, which will begin operating in September 2019.
Binance charges fees in its own Binance Coin (BNB) tokens, which is cheaper for users if they want to pay in other digital assets that still need to be transferred to (BNB). Binance offers flexible discounts.
Bitfinex
Bitfinex has recognized a program for seasoned cryptocurrency merchants. Until recently, to trade on it, you had to place a deposit of at least $ 10,000.
As with Binance, the crypto exchange provides special fee conditions for those who own LEO tokens. LEO is a strong enough token considering that Bitfinex was able to sell them for $ 1 billion in record time. However, it should be borne in mind that Bitfinex has strong support in the form of the parent company iFinex, which manages the Tether project.
Poloniex
Poloniex is a crypto exchange that is famous for being owned and operated by Cricle, which in turn is the darling of the American investment bank Goldman SachsCrypto for partners and has Crypto for partners. However, pressure from the US authorities has led to the fact that the main operational processes will be “transferred” outside the United States this year.
Be that as it may, the practice of commissions is standard with one peculiarity that there is a small commission for withdrawals. When working with a maker order, when a trader’s turnover exceeds $20 million in 30 days, the commission is reset to zero.
