๐จ๐จ #CryptoExchanges ๐จ$BTC ๐จ๐จ
๐ Hereโs What Youโre Paying to Buy 1 Bitcoin (BTC) on Different Exchanges:
Binance ๐ฅ:
Trading Fees: Super low at just 0.10% for both maker and taker orders.
Discounts: If you hold BNB, you can get up to 25% off fees. ๐ค
Deposit Fees: These vary depending on how you deposit your fiat (credit card, bank transfer, etc.). ๐ณ
Withdrawal Fees: Again, these depend on how you withdraw (crypto or fiat). ๐
Coinbase ๐ฐ:
Trading Fees: Youโll see a 0.5% spread plus a flat fee depending on the transaction size. So, if you buy between $25-$50, itโs a $1.99 fee.
Deposit Fees: ACH transfers are free, but if youโre wiring funds, youโll pay around $10.
Withdrawal Fees: Wire withdrawals can cost you up to $25. ๐ธ
Kraken ๐:
Trading Fees: These start at 0.16% for maker orders and 0.26% for takers if youโre trading under $50k.
Deposit Fees: These also vary depending on your payment method (bank transfer, etc.).
Withdrawal Fees: Again, these are based on what youโre withdrawing โ both in terms of method and crypto. ๐ฐ
Gemini ๐:
Trading Fees: These can go up to 0.40% for takers, but it all depends on your volume.
Deposit Fees: Free for ACH deposits, but wire transfers can have some extra costs.
Withdrawal Fees: Similar to deposits โ ACH is free, but wire transfers may cost you. ๐ณ
Bitflyer ๐น:
Trading Fees: Very straightforward, with a flat 0.1% fee.
Deposit Fees: Certain methods are free, but some may charge.
Withdrawal Fees: For Bitcoin withdrawals, youโll pay 0.0004 BTC per withdrawal.
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Extra Things to Keep in Mind:
Payment Method ๐ณ: If you're using a credit or debit card to buy Bitcoin, it could cost you up to 3.99% in fees. Bank transfers are usually cheaper.
Hidden Fees ๐ก: Watch out for the spread (the difference between buying and selling prices) and other sneaky charges when withdrawing.
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How to Save on Fees:
Volume Discounts ๐: If you're a heavy trader, your fees drop the more you trade.
Exchange Tokens ๐: Some platforms (like Binance) give fee discounts if you hold their native token (e.g., BNB).
Limit Orders ๐๏ธ: Using limit orders (instead of market orders) can save you some bucks on fees.
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โ ๏ธ Pro Tip: Fees can change, so always double-check what youโre being charged before pulling the trigger on a transaction.