Zero-Fee Crypto: Invest Without Costly Charges

Investing in cryptocurrencies carries a lot of risks, including fraud, hacks, and significant losses from price fluctuations. It is also a relatively new and burgeoning industry, and customer service has lagged behind. However, there are ways to invest in crypto without paying fees.

One way is to use a platform like Robinhood, which offers commission-free trading on all cryptos. Another option is to trade crypto stocks like GBTC and ETHE with no fees using stock brokers like Fidelity. Additionally, most exchanges offer free or very cheap fees to high-volume traders.

Some specific exchanges that offer zero-fee crypto trading include Bybit, Binance, MEXC, Kucoin, Crypto.com, Gate.io, and Lykke. However, it is important to note that these exchanges may have certain limitations or requirements for their zero-fee promotions. For example, Robinhood has limited functionality and selection, while Binance only offers zero fees on certain trading pairs.

When considering a zero-fee crypto exchange, it is important to do your research and read customer reviews to understand the potential drawbacks and limitations. Additionally, keep in mind that the crypto market is highly volatile, and it is always a good idea to consult a financial advisor before making any investments.

Use an exchange with commission-free trading

There are several crypto exchanges that offer commission-free trading. Here is a list of some of the best zero-fee crypto trading platforms:

• Bybit: Bybit is a popular crypto exchange that offers a free maker fee. It has a high-derivative trading volume, settled contracts, great bonuses, and a low risk of liquidations. However, it has a relatively limited volume of trading pairs and is currently unregulated.
• OKX: OKX offers negative fees for large-volume traders and fee discounts for users who meet the conditions of different fee tiers. However, it has a $500 withdrawal limit for BTC per day.
• Binance: Binance offers zero-fee crypto trading for US clients and has a massive inventory of support coins, tokens, and crypto futures. It is safe and has extremely speedy transaction times, but it lacks options for US traders and has limited support.
• Huobi: Huobi Global charges a 0.2% base fee for all traders but offers a discount on trading fees for Huobi Global token (HT) holders. It also has a tiered structure that allows users to save on trading fees.
• KuCoin: KuCoin offers instant trades with no fees and supports deposits via debit cards, MasterCards, Visas, wire transfer, Advcash, and Payeer. However, the withdrawal limit varies based on the trading fee level.
• MEXC: MEXC offers no deposit fees and zero fees for maker orders on both spot and futures markets. It also has industry-leading security and financial stability and is an early adopter of new crypto coins.
• Kraken: Kraken is one of the longest-running crypto exchanges and offers zero-fee options for clients with big trading volumes. However, its platform is not very user-friendly, and it has issues with two-factor authentication and customer service.
• Crypto.com: Crypto.com offers virtually free maker and taker fees for high earners and allows users to gain weekly interest on their crypto savings. However, it has a complex fee structure, lacks desktop support, and has poor customer support.
• Coinbase Pro: Coinbase Pro offers a user-friendly interface, a great selection of crypto coins and tokens, and top-notch security and trust. It also offers a $5 discount for new accounts, but it has high fees outside of Coinbase Pro and lacks control over private keys in its wallet.

Buy cryptocurrency with coins

While it is difficult to buy cryptocurrency with no fees at all, there are some crypto exchanges that offer low fees or no-fee starter promotions. Here are some of the best options for buying crypto with coins:

Bybit

Bybit is a top choice for a zero-fee crypto trading exchange. It is a stable and secure platform for buying and selling crypto. Bybit offers zero-fee trading on its spot exchange, with no fees on its 460 coins and 479 trading pairs. This is a temporary promotion, but it is still a good opportunity to try out the platform without fees.

Binance

Binance is the world's largest and most-traded crypto exchange. It offers no-fee trading on several stablecoin pairs, and while there are some limitations, it is still a good option for trading with no fees. Binance also has very low fees of 0.1% per trade.

MEXC

MEXC is a platform with one of the lowest fees across its spot and futures markets. It offers zero fees for maker orders, meaning that traders can place leverage orders with no fees or commissions. This is a significant advantage over other no-fee platforms that charge fees on futures markets.

KuCoin

KuCoin is a platform with over 700 cryptocurrencies listed. It offers zero-trading fees and commissions on its 'Instant Exchange', where users can trade Bitcoin, Ethereum, Litecoin, and XRP. KuCoin also supports 26 crypto assets that can be swapped instantly into Tether (USDT) and vice versa, with no hidden fees.

Crypto.com

Crypto.com is a cryptocurrency exchange available in the United States and other countries worldwide. It introduced the ability for users to trade between stablecoins with no fees. Supported stablecoins such as USDC, BUSD, GUSD, and TUSD can be swapped on a 1-to-1 basis with no conversion or trading fees.

Gate.io

Gate.io is a popular trading platform that offers zero fees on all trading pairs. It has removed all trading fees from multiple markets, including spot, perpetual futures, and P2P trading. There are over 1,000 cryptocurrency pairs that can be bought and sold with no fees, making it a good alternative to Binance Futures and Bybit.

Other Options

Other crypto exchanges that offer low fees or no-fee promotions include Robinhood, BitMEX, and Shapeshift. Robinhood offers commission-free trading on all cryptos, while BitMEX and Shapeshift have zero fees on select coins and trading pairs.

Watch transaction amounts

When investing in cryptocurrency, it is important to watch the transaction amounts. Many cryptocurrency exchanges charge a percentage of the amount traded. For example, if you are executing a $10,000 trade with a 0.10% fee, you might incur a $10 fee. In some cases, a flat fee is available, but generally, the bigger the transaction, the more you will pay.

Therefore, it is important to keep transaction amounts in mind when investing in cryptocurrency. This is especially true if you are executing a large trade, as the fees can add up quickly. By watching the transaction amounts and being mindful of the fees associated with each trade, you can make more informed investment decisions and potentially save money on fees.

In addition to watching transaction amounts, it is also important to consider the timing and strategy of your trades. Fees can vary widely, so it is crucial to do your research and compare fees across different exchanges. Additionally, some exchanges offer commission-free trading, which can help reduce costs. However, even these exchanges may make up for it in other ways, such as charging a spread on every transaction.

Overall, by being mindful of transaction amounts and staying informed about fees, you can make more cost-effective investment decisions when investing in cryptocurrency.

Be strategic about transaction types

When investing in crypto, it's important to be strategic about transaction types to avoid unnecessary fees. Here are some tips to help you get started:

• Understand the Different Types of Transactions: Educate yourself about the various types of transactions available when investing in crypto. These may include buying and selling cryptocurrencies, trading crypto derivatives, or using decentralised exchanges. Each type of transaction may have different associated fees, so it's important to know the options.
• Compare Fees Across Exchanges: Different cryptocurrency exchanges will charge different fees for the same type of transaction. Take the time to research and compare the fees charged by multiple exchanges before choosing one. This can help you minimise the fees you pay.
• Consider Using a Decentralised Exchange (DEX): Decentralised exchanges, such as Bisq, often have lower transaction fees than centralised exchanges. DEXs are peer-to-peer platforms that allow users to trade cryptocurrencies directly with each other, cutting out the middleman. However, DEXs may have lower trading volumes and less liquidity than centralised exchanges.
• Explore Batching Transactions: Some cryptocurrency wallets and exchanges allow users to batch multiple transactions together, reducing the overall fees paid. This is often referred to as "transaction bundling" or "transaction batching." This strategy can be especially useful if you plan to make multiple small transactions.
• Take Advantage of Fee Discounts: Some cryptocurrency exchanges offer fee discounts for high-volume traders or users who hold a certain amount of a specific cryptocurrency. For example, Binance offers discounted fees for users who pay their trading fees in the Binance Coin (BNB) cryptocurrency.
• Use a Crypto Credit Card: Consider using a crypto credit card that offers rewards or cashback in the form of cryptocurrencies. These cards can help you earn crypto while making everyday purchases, effectively allowing you to invest in crypto without paying additional fees. Examples include the Gemini Credit Card and cards offered by Crypto.com and Coinbase.
• Explore Dollar-Cost Averaging (DCA): The DCA strategy involves investing a fixed amount of money in your chosen cryptocurrency at regular intervals, regardless of the market price. This approach helps to smooth out the impact of market volatility and can reduce the need to time the market perfectly. While it may result in higher trading fees due to more frequent transactions, it can be a more cost-effective strategy in the long run.

Remember to always do your own research and understand the risks involved before investing in cryptocurrencies. The tips provided here are not exhaustive, and there may be other strategies to consider when trying to invest in crypto without fees.

Offset crypto fees with promotions

Crypto fees can be offset by taking advantage of promotions. Several crypto exchanges offer sign-up offers and other deals that give you access to free cryptocurrency, which will lessen the impact of fees on your portfolio balance. Here are some examples:

• Coinbase: Get up to $6 in bitcoin by signing up and making a cryptocurrency purchase.
• Gemini: Receive up to $50 upon signing up, linking a bank account, and making a minimum purchase.
• Voyager: Earn up to $50 after a friend you refer to signs up and makes a minimum trade.
• Celsius: Get $50 for signing up.
• EToro: Earn $30 after a friend you refer to signs up and makes a minimum purchase.
• BlockFi: Earn $10 to $1,000 in bitcoin when you open an account and trade $1,000 to $100,000 in cryptocurrency.

In addition to these sign-up offers, some crypto exchanges offer promotions for new users, such as reduced fees, bonuses for trading certain volumes, or rewards for using specific coins. For example, Cryptomus offers a 50% reward from the deal commission to users who invite a friend to make their first deal on the platform.

By taking advantage of these promotions and sign-up offers, you can offset the fees associated with crypto trading and investing, allowing you to maximize your returns.

Frequently asked questions