Decided to buy your first cryptocurrency, but do not know which exchanges take the lowest commission? For a start, let's figure out with whom and for what the commissions are taken. A maker or market maker is one who provides liquidity to the market by placing limit orders, that is, orders to buy or sell with a price limit, thereby helping (make the market, hence the maker). For adding volumes to the order book, makers are rewarded by lower commission. A taker is one who places an order (buys or sells) at the market price, that is, the order is executed immediately (roughly speaking, it takes what is on the market, therefore a taker). Since such participants withdraw liquidity from the market, their commission is usually somewhat higher.
1. Binance
Binance is a popular Chinese exchange that began active operations in July 2017. At first, the company’s headquarters was located in China, and then moved to Malta, where by this time the regulatory climate had become favorable for cryptocurrency companies.
Due to low commissions, the exchange quickly gained popularity and became the largest in the world. The exchanger is designed for both professionals and beginners, so there are training materials, tools and charts for traders, as well as basic and advanced versions of user interfaces - the extended version offers a deeper technical analysis of prices.
Up to 100 trading operations with BTC within 30 days and without using BNB coins (when used for BNB transactions a discount is given):
• Commission of maker - 0.10%
• Commission of taker - 0.10%2. OKEX
OKEX is a futures trading platform launched by the major Chinese digital asset exchange OKCoin.com and focused on BTC and LTC futures. Presented here hundreds of trading pairs and types of futures, which gives the trader the flexibility to choose a trading strategy.
OKEX has quite strict customer service rules, so today the exchange does not work in Hong Kong, Cuba, North Korea, Iran, Crimea, Sudan, Malaysia, Syria, USA, Bangladesh, Ecuador, Bolivia and Kyrgyzstan - either because these countries are under UN sanctions, or because their citizens are forbidden to perform any actions with cryptocurrencies.
Up to 100 trading operations with BTC within 30 days:
• Commission of maker - 0.10%
• Commission of taker - 0.15%3. Huobi
The headquarters of Huobi is located in Singapore, and the company focuses primarily on the Asian market - it has announced a strategic partnership with HBUS to serve American customers.
Representatives of the exchange claim that they have the best customer support (working around the clock). For new users there are tutorials. Commissions for makers and takers are the same until the client reaches the VIP level.
• Commission of maker - 0.20%
• Commission of taker - 0.20%4. Bithumb
Bithumb is the largest exchange of South Korea. The headquarters is in Seoul. It has been working since 2013, but in 2017, the site was hacked - it is worth bearing in mind.
The service is mainly focused on Korea, but the interface is translated into English, Chinese, Spanish and Hindi. They claim that they have the lowest commissions, but for this you need to either make very large amounts or use a Bithumb voucher.
• Commission of maker - 0.15%
• Commission of taker - 0.15%When using a coupon for a fixed amount, a discount is applied, then the commission is from 0.075% to 0.01%.5. Bitfinex
Bitfinex Exchange was founded in 2012 in Hong Kong.
The exchanger is mainly focused on semi-professional and professional traders, as well as institutional players. The company recently stopped working in the United States and focused on serving customers from other countries. At various times, the site was hacked, and now it pays great attention to safety, but it is worth remembering their history.
With a volume of up to 500 thousand dollars within 30 days:
• Commission of maker - 0.10%With a volume of up to 1 million dollars within 30 days:
• Commission of maker - 0.08%With a volume of up to 10 million dollars within 30 days:
• Commission of taker - 0.20%6. HitBTC
HitBTC is positioned as the “most advanced bitcoin exchanger” - it uses intelligent algorithms for converting orders. Exists since 2013, but recently there have been reports of some problems with customer service - support may not respond to requests.
The registration process is simple, you just need to create an account. Here the payment is arranged in an unusual way: they do not charge a commission, but offer a discount to the makers.
• Commission of maker - 0.01%
• Commission of taker - 0.10%7. ZB.com
Hong Kong Stock Exchange ZB.com was launched in 2017. First of all, it is aimed at the Asian market, especially the Chinese.
They have interface versions for both beginners and advanced crypto traders. The advanced interface is perfectly made, in that there are indicators for technical analysis, various tools, several types of orders and detailed market information. The novice interface is convenient for the beginner, and at the same time offers enough opportunities for making deals and performing basic technical analysis.
• Commission of maker - 0.20%
• Commission of taker - 0.20%The exchange also offers a discount for VIP traders.8. Bit-Z
Hong Kong Bit-z Exchange has been operating since 2016.
The service interface is beautiful and intuitive. There are price charts, market information, updated in real time, charting tools, indicators for technical analysis, as well as reports and trading history. To ensure the security of transactions, bank-level SSL technology is used.
The exchange works with clients from all over the world, except for residents of Germany and the state of New York because of the laws of these jurisdictions. Users complain about the slow withdrawal of funds, which seems to be due to manual checking of each request - if you need quick access to the funds, keep this in mind.
• Commission of maker - 0.10%
• Commission of taker - 0.10%9. Bibox
Bibox - Chinese Exchange, launched in 2017. Artificial intelligence algorithms are used to organize transactions and maximize profits. The site supports Mandarin, English, Korean, Russian and Vietnamese.
Two interfaces are offered: simple, where the necessary information is shown in a small area of the screen, and full-screen, where the main attention is paid to diagrams. It is worth noting that there are many unpopular altcoins here.
Here you can receive a 50% commission of the people you brought to the exchange.
• Commission of maker - 0.10%
• Commission of taker - 0.10%When used for conducting transactions, the BIX coin is applied a 50% discount, but it is valid only for the first year, after which it decreases, reaching zero in five years.10. LBank
LBank was launched in 2016 - it is a Chinese stock exchange headquartered in Hong Kong. The company is mainly focused on the Asian market, but works all over the world, and the site is translated into English - though not all pages, and support in English is slow.
The interface is simple and convenient, advanced indicators are available for technical analysis, including MACD, KDJ, RSI and CCI.
• Commission of maker - 0.10%
• Commission of taker - 0.10%
