Finding the best cryptocurrency exchanges in terms of their cost-effectiveness can make all the difference when it comes to executing orders on a regular basis. Those seemingly small fees can build up for long-term positions, and they can grow into a significant monetary amount unless proper precautions are taken.
In essence, choosing an exchange based on its fee rate represents savvy trade management. However, since crypto exchanges generally rely on their fees to turn a profit, the options for low or no-fee trading can often seem limited.
This article puts together some of the best no-fee exchange options in 2024, highlighting their key features and analyzing exactly what makes them a great option.
List of the 10 best no-fee exchanges in 2024:
How to find the best zero-fee crypto exchanges
Selecting the best no-fee crypto exchanges involves considering several factors to ensure reliability, security, and user-friendliness. One of the key factors to consider is a platform’s level of security, where the amount of time that a platform has been in operation is often a great indicator of its reliability.
Another consideration to make is whether the exchange offers a specific crypto asset that you’d like to trade. Not all cryptocurrencies are on all exchanges due to market-making constraints such as the depth of liquidity available, so make sure to do your own research into the breadth of options that are available before signing up.
Ranking the best no-fee crypto exchanges
This section will analyze the top no-fee crypto exchanges available in 2024.
1. Binance
Binance is the world’s largest crypto trading platform, widely regarded as one of the best crypto exchanges in the world. It lists hundreds of cryptocurrencies and regularly clears billions of dollars in daily trading volume, boasting liquidity across virtually every trading pair.
Binance’s default fees start at 0.10% for both makers and takers, which is slightly below the market average. However, BNB coin holders and high-volume traders can unlock even lower rates, which makes it more worthwhile to trade crypto with Binance.
Regular users can get a 25% discount on trading fees when holding BNB. However, those who are higher on the VIP ladder can see their fees drop to as low as 0.019%, more than 5 times lower than the default rate.
Pros:
- 0.10% fees for takes and makers
- 25% discount for BNB holders
- Further discount for high volume traders
Cons:
- BNB required to unlock fee discounts
2. KuCoin
Kucoin is a cryptocurrency exchange founded in 2017 that initially gained popularity for its wide range of supported cryptocurrencies, including low-cap tokens that may show a lot of promise in terms of the potential for future gains. Its broad selection of altcoins offers more diverse access to digital assets than many of the other exchanges on this list, and it couples this functionality with low trading fees as well.
On balance, Kucoin offers a user-friendly interface and a responsive trading experience, designed to cater to both beginner traders and experienced traders alike. The platform offers intuitive navigation, customizable trading views, and easy access to trading features and tools.
Offering a huge selection of crypto trading pairs and reliable on-ramp and off-ramp functionality, Kucoin is, without a doubt, one of the best low-fee crypto exchanges in 2024.
Pros:
- Huge selection of cryptocurrencies
- Advanced trading tools
- Deep liquidity pools
3. Kraken
Kraken is a cryptocurrency exchange platform founded in 2011, making it one of the oldest and most reputable exchanges in the cryptocurrency industry. The platform is known for its security, regulatory compliance, and wide range of supported cryptocurrencies including BTC, ETH, LTC, and XRP (XRP) among many others.
The platform offers advanced trading tools for experienced traders, including margin trading, futures trading, and customizable order types. As a robust exchange solution that has a proven track record for security, Kraken has significant market liquidity at its disposal which helps to reduce spread in the orderbooks.
Other standout features of Kraken include its staking and earn programs, where users can earn rewards by participating in the validation process of various blockchain networks. In return for securing the network infrastructure, users can receive a passive yield on their crypto investments.
Pros:
- Large selection of cryptocurrencies
- Advanced trading tools
- Deep liquidity pools
Cons:
- Fees are not zero
4. PrimeXBT
PrimeXBTis a trading platform that caters to both crypto and traditional investors. It offers a wide selection of markets, including crypto contracts for differences (CFDs), crypto futures, indices, commodities, and even forex. This makes PrimeXBT uniquely positioned as a platform for derivatives traders from all walks of life. Paired with up to 1000x leverage on certain instruments, it's definitely a robust all-around offering.
When it comes to fees, PrimeXBT definitely stands out as a worthy candidate if you are looking for no-fee trading. If you are interested in CFDs, for example, trading fees start at literally 0%. However, it's worth noting that spreads start at 0.1%. Meanwhile, takers pay a 0.02% fee for crypto futures orders, whereas makers pay 50% less or 0.01%.
Another notable feature of PrimeXBT is its copy trading feature, which allows traders to copy the strategies of other successful traders. There's a quid pro quo in action here since experts who share their trading strategies get up to 20% of their followers' profits.
Pros:
- Crypto and traditional markets
- Zero trading fees for CFDs
- Copy trading with profit sharing incentive for experts sharing their strategies
Cons:
- No spot markets
- Limited selection of cryptocurrencies
5. Robinhood
Robinhood is a financial services platform that offers commission-free trading of stocks, options, ETFs (exchange-traded funds), and cryptocurrencies. It was initially founded in 2013, quickly gaining popularity for its user-friendly interface and accessible approach to investing.
One of the most notable features of Robinhood is its commission-free trading model, allowing users to buy and sell assets at minimal cost. While relatively limited compared to fee-based crypto exchanges, Robinhood still offers a broad selection of crypto assets including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and many others.
Robinhood is also not limited to crypto trading, offering both spot and derivatives trading pairs across equities, ETFs, and commodities as well. One of its most popular features is its cash management capability, allowing users to earn interest on their uninvested cash.
Pros:
- Zero commission trading
- Broad selection of markets
- Earn interest on uninvested cash
Cons:
- Limited crypto trading pairs
6. Webull
Webull is a financial technology company that provides an online brokerage platform for trading stocks, options, ETFs, and cryptocurrencies. Founded in 2017, Webull has gained popularity for its robust features and tools that are tailored for traders and investors.
Similar to Robinhood, Webull offers commission-free trading, which allows users to trade without incurring traditional exchange fees. The platform provides advanced charting tools and indicators for technical analysis, allowing traders to customize their charts and perform in-depth market analysis directly on the platform.
In terms of its crypto asset options, Webull offers a broad selection of large-cap cryptocurrencies, including BTC, ETH, and DOGE. Its integrated community features, including a dashboard to share trade ideas and discuss market ideas, provide plenty of value for traders who are seeking to gain an edge in the market.
Pros:
- Zero commission trading
- Broad selection of markets
- Community features
Cons:
- Limited crypto trading pairs
7. Gemini
Gemini is a cryptocurrency exchange and custodian platform founded in 2014 by Cameron and Tyler Winklevoss. The platform is known for its emphasis on security, regulatory compliance, and user experience, and is a favorite among institutional crypto traders as a result.
Being a fully regulated cryptocurrency exchange based in the United States, Gemini provides custody solutions, over-the-counter (OTC) trading, and liquidity solutions for large cryptocurrency transactions. It provides insurance coverage for digital assets held on the platform, helping to protect users’ funds in case of a security breach.
Gemini supports a variety of cryptocurrencies for trading, including BTC, ETH, Litecoin (LTC), Bitcoin Cash (BCH), and many others. Users can take advantage of the platform’s fee-free model to buy and sell crypto assets at a reduced cost, helping to improve long-term profitability when compared to alternative exchanges.
Pros:
- Zero commission trading
- Advanced trading tools
- Secure crypto custodian
Cons:
- Limited crypto trading pairs
8. Coinbase Pro
Coinbase Pro is a crypto trading platform that caters to more experienced traders and institutions. It is part of Coinbase, which is one of the largest and most well-known cryptocurrency exchanges globally. The key difference between Coinbase and Coinbase Pro is that Coinbase Pro offers advanced trading features and a more comprehensive trading interface compared to Coinbase’s standard retail platform.
Likewise, Coinbase Pro offers lower trading fees when compared with the retail version of the site. While it isn’t a fee-free platform, the fee structure is based on trading volume and maker-taker fees, where makers often pay lower fees than takers. One of the standout benefits of using Coinbase Pro is that it benefits from deep liquidity pools due to its large user base and integration with Coinbase’s retail platform.
Pros:
- Advanced trading capabilities
- Relatively low fees
- Deep liquidity pools
Cons:
- Fees are not zero
9. Bitfinex
Bitfinex is a cryptocurrency exchange platform founded in 2012, known for its advanced trading features, deep liquidity pools, and support for a wide range of cryptocurrencies. From limit orders to market orders, to stop orders and trailing stop orders, Bitfinex offers a responsive and intuitive trading interface that has been popular since the early days of crypto.
High liquidity on Bitfinex ensures that traders can execute large orders with minimal slippage and competitive pricing, and the diverse selection of crypto assets supported by the platform provides broad accessibility for investors of all kinds. Similarly, Bitfinex offers margin trading services to allow users to amplify their trading positions, which can be done either directly through the platform or with its integrated peer-to-peer (P2P) lending feature.
Pros:
- Large selection of cryptocurrencies
- Advanced trading tools
- Deep liquidity pools
Cons:
- Fees are not zero
10. Gate.io
Gate.io is a crypto exchange that offers a range of trading services for both beginner and experienced traders. Like Kucoin, the platform offers a diverse selection of cryptocurrencies including many small-cap altcoins, acting as a kind of gateway for the wider world of Web3.
Additionally, the platform offers advanced trading capabilities and a broad selection of services including margin trading and derivatives such as futures markets. It has a conjoined borrowing and lending platform where users can lend their cryptocurrency to earn interest or borrow cryptocurrencies by providing collateral. This feature provides opportunities for passive income and access to additional funds.
Pros:
- Large selection of cryptocurrencies
- Advanced trading tools
- Deep liquidity pools
Cons:
- Fees are not zero
The bottom line
Crypto exchanges vary in their focus, with some offering a huge selection of assets at a higher cost, and others offering a narrow range of large-cap coins with low or no fees. The exchanges on this list have collected some of the best no-fee options, with the top three being Binance, Kucoin, and Kraken as follows:
While each of these exchanges offers no fees for trading, it should be stated that they offer a limited selection of crypto assets within that context. Users seeking low-fee options for a broader selection of cryptocurrencies may prefer to join an exchange like Kucoin, Gate.io, or Kraken.
You can learn more about the best crypto exchanges here.
