Bitcoin Forum

If I buy a bitcoin a bitcoin for 10000 dollars, and sell for 10200
Obviously I have gained 200 Usd.
But then out of the gain I must pay commision, if this has happened what exchange would have been least commision?

It depends on what exchange you are going to use but so far Binance is the lowest in terms of fees and specially if you use BNB token to pay for the fees that will be 50% off from the regular fees that pay. Bittrex offers 0.25% fees on every trade and that is a flat fee compared to Binance which is only 0.1%.

nydiacaskey01 I am not using anything other than Usd, do you know which exchange which I would gain most Usd?

I guess that would be Binance because they have the lowest trading fees. Check the trading fees below from other exchange sites aside from Binance

Binance 0.1% much lower if you use BNB token to pay for the fees.
Bittrex 0.25%
HitBTC 0.1%
Coinbase $2.99 transactions up to $200 USD and 1.49% for transactions over $201 USD
Poloniex 0.20%

Aside from having a lower fees on Binance, its the top exchange and you don't need to fill-up any KYC form as long as its below 2btc. Don't worry about the fees because your profit of $200 will not hurt that much as long as you do it in a whole. Best exchange will depend on your criteria, because binance is not allowed to US so this might be not good for you to use it, then its time for you to find the exchange that is available on the place where you live.

Binance will obviously have the lowest fees, especially if you have BNB to even lessen their fees.

The problem is though, there have been recent hacks of the exchange and KYC information has been leaked. If you are trading crypto to crypto, it's fine because you aren't asked to do KYC, but if you are trading fiat currencies, you'll be forced to complete KYC.

Link to article - http://www.futuresmag.com/2019/08/13/hacker-released-10000-kyc-profiles-binance-customers-coindesk-reports

I'd personally recommend setting up ads on Localbitcoins/Paxful or other P2P trading sites. You will have a decent budget and will be able to trade the spreads, or if you aren't bothered, setting up your own ad usually means you can sell BTC for more then what it's worth, but it'll just take more time.

In my opinion, the important factor is not only transaction fees but also the gap between buy orders and sell orders. If the gap is not too large and the transaction volume is large, I think the exchanger is a good exchanger. In my opinion binance can be a good choice at this time because of the large transaction volume and also relatively small transaction fees

so far Binance is the lowest place in terms of costs and many people trade on Binance, as the members have said here and I also think so if Binance is a place to avoid high costs in trading. I personally often use the Binance or HitBtC exchange because it has a small fee.

The exchange on which I had been using it now was Kucoin, Idax, Bitforex, Coinbene, and Binance.
Those are the exchange were most of my altcoins are scattered to their platform. Though, their charge or fee
for every transaction is not an issue to me for what important was I can get profit in it.

commission must always be the last thing you look for in an exchange. the first and most important thing to ask is security and reliability of the platform that you plan on putting your money in and leave it there for some time (during which you trade).
then you have to see if you are OK with their terms of services and if they even accept your methods of fiat payment or not.
also i see others are suggesting a bunch of exchanges like Binance, bittrex,... that don't even have a fiat market. and if you plan on trading bitcoin with fiat (like USD) then you can't even use those.

Well if you are buying Bitcoin at $10000 and selling for 2% profit at $10200, then you are mostly trading. If so you should just use a futures derivates exchange like Bitmex. If you use limit orders then they actually pay you the trading fees, and if you do a maker trade then its only 0.075%, its the lowest in the industry.

However this assumes you already own Bitcoin because on Bitmex you can only deposit and withdraw bitcoins and not fiat. If you are only fiat now, then you need to register with some exchange and do KYC and after you buy the bitcoins you can send it to a futures exchange and trade with it.

For the profit $200, I won't bother with the exchange commission or the fee because the exchanges fee is not too big depends on our profit. So I think you should accept the fee so you can withdraw the money to your wallet and you can choose any recommended exchange website and I am sure that you can do that in binance, bittrex, poloniex, kucoin and else.

But maybe for every exchange I mention, you will need KYC before you can withdraw the money except binance which you can withdraw even if you don't complete the KYC, but you get a limit on the withdrawal.

Most people have already commented on the question you asked about commission, I'll just make a few comments about this:


It is not so simple to buy $10,000 and sell for $10,200 and make $200 profit. Let's take yesterday's example.

Yesterday the price was $11300 and then dropped to $ 10900 ... imagine if you bought $10900 why would you think the price was too low? Today the price is $10400. If you will enter this crypto market? so I suggest you read the very news and learn technical analysis and fundamental analysis

Best would be to do person to person exchange , for that you can actually share the details through the social media , Instagram , Facebook , let your friends know that you are someone that they can buy bitcoins from , as for me I sell to my friends when I need to and they wanna buy. It saves them commission and also as for me I can easily sell them bitcoins without any further cost.

Obviously, it's Binance of course since it is the ranked top 1 exchange platform in the world wherein you can enjoy great trading platform services and fees and most importantly it got active traders that you can compete with your buy and sell purposes.

First thing you have to care about security, not commisson.comissions are almost same, there is no big differences so as i said you must trade on trustful exchange.

well, depending on the exchange you wish to use because each exchange platform have transaction charges when you are trading and making a withdrawal but since you have categorically talked about BTC, I will advise you to go with Binance. They are renowned crypto exchange platform and the transaction fee they charge is very small compare hundreds of other exchange platform. However, since I have used and still using them, then I can recommend them. I am also going to believe you understand the volatility of the crypto.

if I think binance and poloniex are also low-cost exchanges, and there are lots of good-priced coins there, so I also prefer to use binance and poloneix exchanges

If you are going to trade ongoing then Binance is the best choice. You buy BNB to pay a fee and have the maximum profit from trading Bitcoin

Buying of selling Cryptocurrency as a trading by using binance is far better and reliable platform to trade, or still used LATOKEN Exchange platform is the one of the best to trade.

In principle, on any exchange You can do it.Is it a big difference for You to pay $ 1 or $ 2 for a commission?I think it is a trifle which is not even worth mentioning.As for bitcoin, it makes no sense to buy it and then immediately sell it.It is better to buy and wait for the profit to be more significant.

Are you saying that whatever exchange is used when buying a bitcoin, and then selling a bitcoin
the difference in commission is only 1 dollar?

It's depends on the country or place OP reside, if the OP living in the US much better yo use localbitcoin or research what is the best exchange with low fees allowed by the US government. That's is true BINANCE and HITBTC have lowest fees it useless if they can't allowed to use it op country.

I agree with this post, people are too focused on saving cents on the dollar when the most important issue with exchanges is their safety and security. I'd be happy to pay an extra 0.5% if it meant my funds would never be hacked.

Personally, I believe the safest exchange is Kraken. They have extensive KYC but have been around for years and no one has had any issues with him. Also, Binance does have a fiat market - but you'll need to perform KYC which is not safe after the recent news.

Bitmex is another good option - it's one of the best exchanges if you just want to trade BTC/Fiat.

Earn commissions when you shop, up to 20% commission. Commissions can be redeemed at any time of the day. We trade in any country in the world via bitcoin. You only need to click on the promotional link, https://bitly.com/ to register or forward it to a friend and you will receive a commission.

If we are talking about the lowest trading fee then here is some exchange with corresponding trading fee starting with the lowest. On the number one with 0.05% trading fee we have binance . At 0.15% we have poloniex, but there are major issues in poloniex and some lenders are waiting for some action during this month. The third was cryptopia with 0.2%, but as of now cryptopia is still undergoing some major issues so I don't really recommend using it. Lastly we have Bittrex at 0.25% trading fee.

I guess that leaves Binance and Bittrex since Cryptopia and Poloniex have some issues. But if you are afraid of the KYC data hacking which attacked binance previously then that would lead you to bittrex.

So far Kraken doesn't have still issues about security exploits or bypass unlike binance which it had already been tainted with recent issues.
Its true that most people do talk about binance but not literally seeing that it doesn't offer fiat pair so its out on the option.
I do prefer on using bitmex among on the list.

Avoid those exchanges that are charging 0.5 percent fee, they are damn too expensive, I think you should go for cheap exchanges like Binance that as a fee of like 0.002 to 0.1 percent, this is why you see more volume in Binance, there fee has been so cheap for a very long time and they have never changed the fee or alter it. Aside fee, their platform is very fast, and you will get your orders executed as soon as possible because they have all the volumes needed to do this.

I think we also have some other exchanges right no too that are really trying with their fees, exchanges like Kucoin is not bad, the last time I used them, I think that their fee is still a little bit fair compared to some other exchanges that I have used in the past, but Binance still happen to be the lead.

There is no one answer to this question. However, I would try Binance. This is the best-trusted exchange with the lowest commissions. Sometimes, it is better to make exchange "chains" - include in your financial operation. In any case, Binance will work. As I do remember, you will have to pay 0.1% commission only which is lower than other platforms offer.

BitMEX isn't allowing you to trade fiat. All they offer are derivatives that you settle and cash out in Bitcoin. Their only relation to fiat is that they fetch data from 3 actual fiat exchanges so that that have an average to work with.

Another thing is that BitMEX requires some understanding of how that platform works and the fees you are subject to, which may end up costing you a lot. Too many variables to pay attention to for most average people here.

Then we don't know what the result is of the CFTC probe against them. I wouldn't want to expose myself to the risk of them locking all user funds when the CFTC demands so. Better safe than sorry.

And even you'll try to visit their site, it has a message on it so its obvious that you can't trade there anymore. It may be temporary but no one knows when their service will come back.

Yeah, I reckon the suggestions with Binance. A known exchange and being considered to have the low fee for most of the exchanges. OP out of your curiosity and desire to look for lowest fee exchange, you need to be careful coz' you might fall to a new exchange that has intriguing yet attractive rates.

You can give a try on unicoindcx exchange

Binance "was" always been a good option before all the hacking issues have had happened. So it is still up to you @OP, if leaking your personal information to a hacker doesn't concern you that much and will only care about the lesser fees you could get then proceed to using Binance. 

I heard that there is this one exchange site that also offers the same trading fee same with Binance. It is called Bibox, tho I can't personally tell you how secured the site is you can give some time in researching that one.