Crypto exchanges cannot be separated from the cryptoverse as investors or holdlers can neither trade nor buy cryptocurrencies without them.
Over the years, cryptocurrencies have gained wide acceptance and have become even more accessible, all thanks to the emergence of crypto exchanges.
Surprisingly, a varied class of people are interested in cryptocurrency investing, from financial institutions to states as well as regular investors.
With the kind of acceptance cryptocurrencies have gained over time, it is only best that investors get a secured place to invest, sell and also store their crypto earnings.
This is where the question of why exactly cryptocurrency exchanges are important pops up.
Before we go on, we would like you to know that you cannot invest in cryptocurrencies like Bitcoin, Doge, Ethereum and the likes without a cryptocurrency platform.
That’s why we would be explaining what cryptocurrency exchanges are in the article and 15 popular crypto exchanges with low fees in 2022.
What are cryptocurrency exchanges?
A cryptocurrency exchange is an online platform where people buy and sell digital currencies. There are quite a number of transactions that can be done on a cryptocurrency platform, you can swap one cryptocurrency for another.
Crypto traders have the choice to either trade digital currencies or crypto derivatives. Exchange-Traded Notes, Exchange Traded Funds, and Contracts for Difference are some of the popular crypto derivatives or products.
For instance, you can swap USDT to Litecoin or any other coin of your choice. Interestingly, you can buy cryptocurrencies on these platforms using the US Dollar.
While there are several crypto exchanges available, Tyrone Ross, a financial adviser and CEO of Onramp Invest, a crypto investing platform for financial advisors, feels that no single crypto exchange is suitable for all users.
Rather, he recommends assessing your individual crypto interests and finding an exchange that matches your objectives. For example, perhaps you’re seeking a certain coin or want to learn more about cryptocurrency investment.
One special feature of crypto exchanges is the use of blockchain. Most crypto exchanges today are built on blockchain technology, and this allows for decentralized order books and decentralized storage, as well as increased transaction security thanks to encryption techniques.
When deciding whether or not to use a certain crypto exchange, there are a few things to consider before signing up.
Factors to consider when choosing crypto exchanges
Here’s a list of factors to consider when choosing a crypto exchange.
- Ease of use
- Transaction fees
- Tax information
- Available coins
- Availability of educational information
Accessibility is key when signing up on any cryptocurrency platform. There are certain cryptocurrency exchanges that can not be assessed by people from certain regions and this is sometimes because of the crypto clamps down in some regions.
China for instance has banned crypto trading, hence people in this geographical location cannot access crypto exchanges. Before signing up on any crypto exchange platform, do well to read the information on regions that can access them to be sure you can use that particular crypto exchange.
Ease of use
User experience is very important when signing up on a crypto exchange. New users might find it difficult to navigate if it is not user-friendly. Hence, you should try checking reviews to see what others are saying about the usability of your preferred choice of crypto exchange.
One of the many things that draw people to use certain crypto exchanges is the type of security backings they have. It is important that a crypto exchange platform have strong security as a little breach can lead to the loss of billions in cryptocurrencies.
Transaction fees are some of the things that draw certain people to use a particular crypto exchange. While there are crypto exchanges with low transaction fees, the ones with high transaction fees shouldn’t turn you off as they’re sometimes worth the pay.
Tax information is crucial since any crypto trades you make must be reported as capital gains on your tax return. That means you’ll need to know the worth of your cryptocurrency both when you acquire it and when you sell it in US dollars.
It is important to know the types of coins available on a cryptocurrency exchange as some exchanges have few coins listed on their platforms. Some exchanges offer as low as nine coins while others offer up to 300+ coins.
Availability of educational information
Crypto exchange platforms should have a section providing users, particularly beginners with educative information on different types of coins, how to carry out certain operations on the platform and so on.
Liquidity is another factor that can not be left out as the trade volume of a crypto exchange would determine if the exchange can guarantee that you can always sell your crypto holdings whenever you want.
Storage of crypto holdings on online exchange platforms is a contentious issue as some people are of the opinion that you should store online in your account while others believe you shouldn’t.
As a first-timer, we would advise you to store your crypto holdings in your online account pending when you are well versed in how to store larger crypto holdings.
15 Popular crypto exchanges with low fees in 2022
The list below shows 15 popular crypto exchanges with low fees in 2022.
Binance, the world’s largest cryptocurrency exchange by daily transaction volume, provides a reasonably safe and flexible option to invest in and trade cryptocurrencies. Binance comes in handy when it comes to speculative trading and charting.
Binance provides a safe and flexible method to invest in and trade cryptocurrencies. Beginners and experienced traders alike may find Binance daunting.
Fees: 0.015% to 0.10% purchase and trading fees, 3.5% or $10 whichever is higher for debit card purchases, or $15 per U.S. wire transfer.
eToro is a popular cryptocurrency trading website that allows users to copy the trades of seasoned investors or earn special benefits for sharing their own trading techniques.
The crypto exchange also offers diversified stock trading, ETF, and trading of other products, as well as speculative crypto trading and charting.
Fees: A fee of 1% for buying or selling crypto assets and a $5 fee for withdrawals
Bybit is a cryptocurrency exchange that offers a variety of innovative trading features. It provides top-notch security. Unfortunately, it is not accessible in the United States.
Hedge funds, asset managers, family offices, market makers, brokers, investment banks, Fintech, and companies can use Bybit’s institutional services, such as trading APIs, VIP fees and access, and OTC trading platforms.
Fees: for Spot Trading on Bybit, the maker fee rate is 0% and the taker fee rate is 0.1% for all spot trading pairs.
|Spot Trading||Perpetual & Futures Trading|
|VIP Level||Taker Fee Rate||Maker Fee Rate||Taker Fee Rate||Maker Fee Rate|
CoinSmart is a cryptocurrency exchange that trades Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Despite the fact that it lacks the majority of cryptocurrencies, it is ideal for both novices and professionals because of its user-friendly layout. It features cutting-edge cryptocurrency trading tools.
It allows you to leverage the market and get your funds the same day it is deposited on the platform.
Fees: 0.20% for single trades and 0.40% for double trades
Crypto.com is a global crypto exchange with over 10 million users and over 2000 employees. It is present in 90 countries. The exchange made our list because it supports over 70 different cryptocurrencies and offers crypto rewards such as the refer and get $2000 reward.
One of the exchange’s special features is the ability to use crypto research and analysis, as well as educational tools, to learn to trade from the ground up or improve your skills as an expert.
The exchange also accepts a wide range of payment methods, including fiat via the Crypto.com Visa card and bank account. Users may use their Crypto.com Visa card to spend cryptocurrency at any store in the world.
Fees: The transaction fees include the “maker” and the “taker” fees. Level 1 maker and taker costs range from 0.4% ($0 – $25,000 trading volume) to 0.04% maker and 0.1% taker fees for Level 9 ($200,000,001 or above trading volume).
Check the table below for full details
|LEVEL||30D TRADING VOLUME (USD)||MAKER||TAKER||DISCOUNTED MAKER/TAKER10% OFF|
|Level 1||$0 – $25,000||0.4%||0.4%||0.360%0.360%|
|Level 2||$25,001 – $50,000||0.35%||0.35%||0.315%0.315%|
|Level 3||$50,001 – $100,000||0.15%||0.25%||0.135%0.225%|
|Level 4||$100,001 – $250,000||0.1%||0.16%||0.090%0.144%|
|Level 5||$250,001 – $1,000,000||0.09%||0.15%||0.081%0.135%|
|Level 6||$1,000,001 – $20,000,000||0.08%||0.14%||0.072%0.126%|
|Level 7||$20,000,001 – $100,000,000||0.07%||0.13%||0.063%0.117%|
|Level 8||$100,000,001 – $200,000,000||0.06%||0.12%||0.054%0.108%|
|Level 9||$200,000,001 and above||0.04%||0.1%||0.036%0.090%|
Coinmama is a simple, straightforward platform that allows users to buy and sell crypto. This exchange accepts Apple Pay, Skrill, bank transfer, VISA, MasterCard, Google Pay, and SEPA as payment methods. Keep in mind that while selling, you may only get fiat in your bank account.
It supports only 9 digital currencies, including Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, Ripple, Tezos and Ethereum Classic.
Users in 188 countries and 48 US states, with the exception of Hawaii and New York, can use the exchange. It also features a new upgrade called “Coinmama’s White-Glove Service.” This service aims to help businesses and high-net-worth individuals build long-term crypto portfolios valued up to $100 million
Fees: It charges fees as a percentage of each transaction, and fees vary based on these fees, i.e. SWIFT is 0% for orders above $1000 (20 GBP), SEPA is 0%, faster payments is 0% exclusively in the UK, and credit/debit cards are $4.99%.
Kraken is a cryptocurrency exchange that allows users to buy, trade, and swap a variety of cryptocurrencies. Kraken accepts Bitcoin, Solana, Cardano, and Dogecoin, among other major cryptocurrencies.
Kraken Pro, which has lower pricing, is available to everyone with a Kraken account. Users of this exchange may receive incentives by staking their currencies, with the staked currency earning up to 23% interest.
In terms of daily market transactional volumes, Kraken is one of the top ten largest cryptocurrency exchanges.
Advanced users may be interested in the exchange’s sophisticated trading features, such as margin, as well as its excellent cybersecurity.
Fees: 0.9% fee for any stablecoins.
See full Kraken fees in the table below
|Kraken Fee||Payment card processing fee||Digital walletPaymentsProcessing Fee||OnlineBanking/ACHProcessing Fee|
|0.9% fee for any stablecoins**1.5% fee for any other crypto or FX pair||3.75% + $/€0.25***||3.75% + $/€0.25***||0.5%***|
Bittrex is a cryptocurrency exchange that allows users to buy, sell, and trade over 400 different cryptocurrencies. This exchange has cheap costs, a variety of order kinds, and a variety of security measures to assist users to keep their assets secure.
This exchange is absolutely liquid and adheres to all applicable laws in the United States. Despite being a respectable crypto exchange, 0.1% of accounts are suspended, closed, or outright banned. It’s also useful for charting and speculative crypto trading.
Fees: 0.25% flat commission on all crypto transactions.
Cash App is one of the most popular peer-to-peer mobile apps available on iOS and Android.
The exchange app is available to users in the United States although it currently works for many more countries. Although low on the interface design, it boasts a wide array of sophisticated features.
Cash App currently supports only Bitcoin, with plans of adding other cryptocurrencies.
Fees: Money transferred or received through bank accounts and debit cards is free of charge, while credit card payments and bank deposits are charged a 3 % fee and 1.5 % fee, respectively.
Bisq is an open-source centralized bitcoin exchange built on blockchain technology that allows users to buy and sell only Bitcoin in exchange for other cryptocurrencies.
Bisq exchange offers peer-to-peer cryptocurrency trading without the need for a third-party intermediary, and its decentralized structure makes it safer than other, more traditional exchanges.
Bisq exchange accepts Advanced Cash, Perfect Money, National Bank Transfer, SEPA, Western Union, Zelle, and Face-to-Face (F2F) payments.
Fees: As low as 0.05% maker fees and 0.35% taker fees. See details in the table below
|Fees||BSQ||FEE AS % OF 1 BTC TRADE SIZE|
Coinbase is a cryptocurrency trading and investment website that lets users buy, sell, and exchange over 100 different cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is a major firm with over 73 million users and a market capitalization of $255 billion. 1
All Coinbase users have access to two trading platforms: the original Coinbase platform, which allows users to buy cryptocurrencies using US dollars, and Coinbase Pro. Coinbase Pro, formerly known as GDAX, offers extensive charting features as well as the ability to perform crypto-to-crypto trades and place market, limit, and stop orders.
Fees: 0.5 to 4.5%, depending on the payment method, cryptocurrency, transaction amount, and platform.
Gemini is a secure and beginner-friendly crypto exchange platform that allows users to buy and sell cryptocurrencies.
With various alternatives for purchasing and selling cryptocurrencies, the exchange caters to both novice investors and active traders.
It doesn’t have the same trading volume as competitors like Coinbase or Kraken, but it does offer 70+ cryptocurrencies, a learning portal to educate beginners on all they need to know about crypto investment and a suite of innovative products that may add value to seasoned investors.
Convenience fee of 0.50 %; transaction fee of $0.99 to $2.99; 1.49 % transaction fee for trades exceeding $200
CEX.IO was founded in 2013 as a regulated multi-functional cryptocurrency exchange. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and other digital currencies and tokens are supported by the crypto exchange.
In all jurisdictions where it provides services, the exchange is regulated and licensed to operate.
It also allows users to make crypto money by staking cryptocurrency kept on the site.
Anyone may buy cryptocurrencies using the exchange’s Instant Buy feature, which accepts Visa, MasterCard, Domestic Wire Transfer, SWIFT, and ACH as payment options.
Fees: 0.25 % taker fee and a 0.15 % maker fee for new and low volume traders
Bitstamp is a well-known bitcoin trading platform that offers over 30 different cryptocurrencies.
The exchange allows users to buy cryptocurrencies with fiat money from their bank accounts, debit cards, or credit cards.
The exchange can be a good alternative for newcomers wanting to stick to the major currencies or even more popular altcoins, thanks to its simple fee structure and the ability to acquire crypto with fiat cash directly from a bank account, credit card, or debit card.
Fees: 0.50% for those with under $10,000 in 30-day trading volume.
Swapzone is a cryptocurrency exchange that allows users to trade for 300+ currencies without having to sign up on the platform.
This exchange enables rapid crypto coin switching. It functions as a cryptocurrency exchange aggregator, allowing customers to evaluate cryptocurrency switching options across different exchanges.
On this exchange, traders may arrange offers by best rates for simpler comparison.
Fees: No transaction and withdrawal fees from exchanges that it Support and no charges
This article shows the list of 15 popular crypto exchanges with low fees in 2022. Take note that the crypto exchanges listed here are based on our research as there are so many other exchanges with low fees.
If you must use a crypto exchange, it must be accessible to users across different regions, secure, easy to use with high trading volumes.