Crypto Exchange Fees 2024 | Binance, Coinbase, ByBit, Bitstamp, Crypto.com, OKex, Kraken, KuCoin, Gate.io, HTX
Leading crypto exchanges fees compared
There are nearly 600 cryptocurrency exchanges worldwide; below is a list of trading fees and deposit/withdrawal fees on the top 10 global crypto exchanges, according to CoinMarketCap in early 2024.
An explanation of the different types of fees and how exchanges calculate them comes after this list.
Summary points:
- KuCoin has the lowest fees for crypto-to-crypto conversions (zero), though they may have a worse spread.
- Across the board, spot trading fees are typically 0.1% for maker and taker. These are offered by Binance, KuCoin, and OKX.
- Binance has the best discounts (25%) on spot trading fees if you use their native crypto, BNB, to pay for fees.
- Depending on volume, users can also get further discounts. Binance fees go as low as 0.02% on the highest volume tier, and fees on OKX can go to a minimum of -0.005%.
- KuCoin and Gate.io have zero deposit fees while Binance and Kraken don’t charge deposit fees to crypto deposits. Kraken has zero withdrawal fees, and Binance charges a flat withdrawal fee to cover the transaction costs.
- In 2023, Bybit adjusted the fees for derivatives contracts by reducing the taker fees for options contracts up to 1 bps, and maker fees up to 1.3 bps
- The most expensive crypto exchange on this list is Coinbase with a taker fee of 60 bps, and a maker fee that equals 40 bps.
Binance
Trading fees
Trading fees differ whether you are a regular user or a VIP user; there are 9 categories of VIP users categorised by their 30-day trade volume. In accordance with the maker/taker distinction, trading fees range from 0.1% to 0.02%.
Due to the platform’s fifth anniversary on 14 July 2022, Binance extended the option for users to receive a 25% discount on trading fees when paying by BNB, and it is going to be valid until further notice.
Deposit and withdrawal fees
When it comes to crypto deposits, Binance does not charge deposit fees. For fiat deposits, Binance charges 0% to 2% deposit fees, depending on the currency being used.
For each withdrawal, a flat fee is paid by users to cover the transaction costs of moving the cryptocurrency out of their Binance account. Withdrawal rates are determined by the blockchain network and can vary without notice due to certain occurrences such as network congestion.
Coinbase
Trading fees
The Coinbase crypto exchange utilises a maker-taker model of fees as well. Fees are calculated based on the current pricing tier a user is in when the order is placed. There are 9 tiers; for example, the first tier is determined in the range of $0K to a $10K trading volume so the taker fee equals 60 bps, and the maker fee is 40 bps.
Deposit and withdrawal fees
Fiat deposit and withdrawal fees are charged depending on the type of transfer and fiat currency. While the Automated Clearing House (ACH) transfer involves zero fees, wire transfers equally include a deposit fee of $10, and a withdrawal fee of $25. The Single Euro Payments Area (SEPA) includes a deposit fee of 0.15 euros and no withdrawal fees.
Starting from 5 February 2024, Coinbase charges a fee on USDC to USD net conversions in excess of $75 million per rolling 30-day period.
Bybit
Trading fees
Bybit includes several user tiers, ranging from non-VIP users over many VIP and Pro user categories to the MM1 and MM2 categories. This crypto exchange includes low trading fees ranging from 0.1000% to 0.0050%, depending on whether you need to pay the maker fee or the taker fee.
Deposit and withdrawal fees
There are no fees on the Bybit exchange for internal transfers or on-chain crypto deposits. For Peer-to-Peer trading, Bybit provides zero transaction fees for either the buyer or seller but states that users may need to pay transaction fees to the payment provider they used.
A withdrawal fee is charged for on-chain withdrawal depending on the different coins and blockchains selected. There are zero withdrawal fees for internal transfers to other Bybit accounts.
Bitstamp
Trading fees
This crypto exchange provides 11 categories based on a 30-day USD trading volume; fees range from 0.30% to 0.00%, depending on the trading volume category and the maker/taker fee distinction.
Deposit and withdrawal fees
Deposit fees and withdrawal fees depend on the type of currency. Most crypto deposits are free of charge, but involve a withdrawal fee; for example, Bitcoin (BTC) includes zero deposit fees, but you need to pay a withdrawal fee worth 0.0005 BTC.
This crypto exchange charges 0.05% for international wire transfer deposits and 5% for card purchases per transaction. Deposits on SEPA and ACH are free. Withdrawal fees equal 0.1% with a minimum fee of $25.
Crypto.com
Trading fees
The Crypto.com trading platform lays down 5 levels based on the 30-day spot trading volume. Trading fees range from 0.0750% to zero depending on the maker and taker distinction and the trading volume level.
This crypto exchange includes a separate VIP trading category for spot and margin trading based on 5 VIP levels. There are no maker fees, and taker fees range from 0.040% to 0.025%.
Deposit and withdrawal fees
Crypto.com doesn’t charge retail customers a deposit fee, but the bank may apply a processing fee regarding deposits in fiat currencies. The platform laid deposit and withdrawal limits based on the type of transfer that is being used such as SEPA, Swift or FedWire. A transaction fee of $20 and $45 will be charged for each withdrawal via FedWire and Swift.
When it comes to cryptocurrencies, there are no deposit fees, but the platform sets out a withdrawal fee that differs for each coin.
OKX
Trading fees
Trading fees on the OKX crypto exchange differ for regular and VIP users; the platform laid down 5 categories of regular users and 8 categories of VIP users based on their 30-day trading volume and maker/taker distinction. Fees range from 0.100% to a minimum of –0.005%.
Deposit and withdrawal fees
The OKX trading platform charges a fee when users conduct an on-chain withdrawal transaction while internal withdrawal transfers and deposits include zero fees. The fee amount is based on the transaction, and the system calculates the fee automatically before the user submits a withdrawal request.
Kraken
Trading fees
Kraken charges a trading fee when an order is executed; these fees range from 0% to 0.40% of the total cost of the order and depends on the user’s 30-day trading volume, the currency pair that is being traded and whether the order is maker or taker.
Deposit and withdrawal fees
All crypto deposits are free on this crypto exchange, with fiat deposits varying dependent on the fiat currency and the chosen payment method. Crypto withdrawals are free, and this trend is followed by fiat currencies' withdrawals as well.
KuCoin
Trading fees
As another crypto exchange with competitive trading fees, KuCoin charges zero fees for crypto-to-crypto conversions and imposes 0.1% maker and taker fees. The platform lays down 13 VIP levels as well.
This trading platform includes a similar fee structure as Binance, using its native coin to provide discounts for traders. The more KCS coins you have, the less you pay for trading.
Deposit and withdrawal fees
Deposit fees for both cryptocurrencies and fiat currencies are free. Withdrawal fees depend on the type of cryptocurrency and fiat currency.
Gate.io
Trading fees
The Gate.io crypto exchange imposes a 0.2% maker/taker trading fee which can be reduced to zero by trading more than $100,000,000 in 30 days. The trading fees are based on the user’s VIP level and how much GT coins they have.
This trading platform includes 16 levels of VIP; levels 11 to 16 include different maker fees based on the 30-day trading volume.
Deposit and withdrawal fees
If you take a look at the customer support section at the Gate.io crypto exchange, you will see that there are zero deposit fees. When it comes to withdrawals, the platform charges a fee per transaction for a majority of coins. Withdrawal fees vary for each coin.
HTX
Trading fees
The HTX crypto exchange laid down two trading fee structures – the general tiered fee structure for normal users and the professional trader tiered fee program for professional users.
The general tiered fee structures includes fees ranging from 0.1800% to 0.0700% based on a 30-day trading volume below 1000 BTC and holdings of the native HT coin expressed in 6 categories.
The professional trader tiered fee program includes 9 levels based on a 30-day trading volume and HT holdings with fees ranging from 0.0462% to 0.0097% depending on the maker/taker distinction.
Deposit and withdrawal fees
There are no fees attached to fiat and crypto deposits on this trading platform. As for withdrawals, the platform stated that, due to market fluctuations in cryptocurrencies, the original fixed fee structure is no longer eligible.
The platform introduced a dynamic charging mechanism which calculates the fee based on a specific formula, taking into account the withdrawal fee of a particular crypto asset on a certain fay and the fee of the blockchain network.
Fees on crypto exchanges explained
In the past couple of years, cryptocurrency has become an asset class favoured by many traders and investors. Crypto exchange fees exist in divergent shapes and sizes. Most cryptocurrency exchanges calculate fees using a tiered-level structure of a user’s 30-day trading volume.
For crypto novices, the most important fees to know about are spot trading fees and deposit or withdrawal fees. Advanced trading tools such as leverage markets or futures trading include more complex fees such as interest and funding rates. For now, let’s stick to the basics.
Hundreds of crypto exchanges now exist that enable the crypto community to trade crypto assets. If you want to step up your crypto trading game, we suggest taking the Trading Course at our Learn Crypto Academy.
Spot trading vs Derivative trading
Cryptocurrency spot trading is the most basic type of investment you can make. Yhis means purchasing a cryptocurrency and using it for trading purposes or holding it until its value increases.
On the other hand, derivative trading or trading of contracts differs from spot trading because the user doesn’t need to own the underlying digital asset. Since it is a more advanced trading option, experienced traders usually engage in the trading of contracts.
Crypto trading fees
The first category we are going to examine in this article is crypto trading fees on crypto exchanges. These fees are calculated based on a 30-day trading volume and differ whether you are a regular user or a VIP user.
Trading fees or transaction fees refer to fees users pay a cryptocurrency exchange when executing a trade or performing a crypto purchase with a fiat currency. These fees are paid when users make a cryptocurrency purchase or trade. If you just want to send some crypto to your friend, in most cases, you will only need to pay gas fees.
Maker fees and Taker fees
When you look at crypto trading fees, you will spot that the most common structure is based on maker and taker fees. As explained above, every time you buy or sell cryptocurrency on an exchange, the trading platform takes a small percentage of the trade to cover operating costs.
The term maker refers to someone who creates a market by setting out limit orders and adding liquidity to the trading pair while the term taker refers to someone who fills such orders. Generally, makers pay slightly lower fees when compared to takers. In other words, a taker fee is usually higher because the transaction removes liquidity from the trading platform's order book.
Cryptocurrency exchanges tend to enhance crypto traders by lowering maker and taker fees depending on the value put through the crypto market.
Deposit and withdrawal fees
A deposit refers to receiving digital assets in your crypto wallet while withdrawing means sending cryptocurrency out of your wallet. Many crypto exchanges provide a variety of deposit and withdrawal methods.
Generally, users can fund their crypto exchange account with fiat currency payments using credit or debit cards or through a bank transfer; when depositing funds there is a chance they might need to pay deposit fees. In most cases, there are no fees when the account is being funded via a crypto wallet.
Users can expect to pay a small withdrawal fee when pulling funds from the exchange. This fee tends to fluctuate sometimes depending on network transaction fees.