Cryptocurrency trading involves buying and selling digital assets on a platform called a cryptocurrency exchange. These exchanges often use a tiered fee structure based on a user’s 30-day trading volume, expressed as a percentage of the trade value. It is crucial for traders to understand the fees associated with trading cryptocurrency, as these can significantly impact the profitability of their trades.
Fees for cryptocurrency trading can vary greatly depending on the exchange. Some exchanges charge a flat fee for all trades, while others charge a percentage of the trade value. Some exchanges also offer discounts for users who hold certain memberships or who trade large volumes.
Here are two examples of cryptocurrency exchange fees:
Bitfinex: 0.1% for makers and takers on most trades, with discounts available for users who hold the exchange’s native token (LEO) or who trade large volumes.
BingX: As low as 0.075% for makers and takers on most trades.
A quick comparison of maker and taker fees is shown in the table below:
Bitfinex Maker Fee is 0.1% and Taker Fee is 0.1%
BingX Maker Fee is 0.075% and Taker Fee is 0.075%
It is important to note that these fees are subject to change and may vary over time. It is advisable to check the current fee schedule of the exchange you plan to use, and to compare fees across different exchanges to find the most competitive rates.