10 Cheapest Crypto Exchanges for Traders in 2024
Looking for the cheapest crypto exchanges that can help you keep your trading costs low while providing a range of features?
In this guide, we’ll explore some of the most affordable exchanges for 2024, breaking down their fees and services so you can find the best fit for your trading style and budget.
Picking the Cheapest Crypto Exchanges
We have a detailed guide that breaks down key factors to consider when picking a crypto exchange, like security, user interface, liquidity, and reputation. If you’re new to crypto, it’s worth checking out.
However, if you’re looking for the cheapest exchanges, there are extra things to think about:
Trading Fees: Exchanges often charge fees for each trade. These can differ a lot and are usually either a percentage of the trade amount or a fixed fee.
Deposit and Withdrawal Fees: Some platforms charge fees when you deposit or withdraw funds. The fee amount depends on the payment method, like a bank transfer, credit card, or crypto transfer.
Minimum Trade Amounts: Certain exchanges set minimum trade amounts, which can affect smaller traders or anyone wanting to make smaller trades.
Here are the Cheapest Crypto Exchanges for Traders in 2024 –
The following are the cheapest crypto exchanges for traders in 2024, along with the fees they charge for different services. Click on each exchange name to see its official detailed fee structure.
| Exchanges | Spot Trading Fee | Futures Trading Fee | Options Trading Fee | Derivatives Trading Fee | Deposit Fee | Withdrawal Fee | Minimum Trade Amount |
| ByBit | starts from 0.1% | 0.02%-0.0550% | 0.02% | unknown | 0 | 2 USDT | 1 USDT |
| Binance | starts from 0.075% | 0.02%-0.05% | 0.3% | unknown | 0 | Varies | 1 USDT |
| OKX | 0.08%-0.1% | 0.02%-0.05% | 0.02%-0.03% | unknown | 0 | Varies | 1 USDT |
| Huobi Global (Now HTX) | 0.2% | 0.02%-0.05% | unknown | unknown | unknown | unknown | 1 USDT |
| BitMex | 0.025%-0.075% | unknown | unknown | 0.02%-0.0750% | 0 | 0 | 1 USD |
| PrimeXBT | starts from 0.01%-0.02% | unknown | unknown | unknown | 0 | Varies | 0.001 BTC |
| Bitget | 0.1% | 0.02%-0.06% | unknown | unknown | 0 | Varies | unknown |
| Kraken | starts from 0.25%-0.40 | 0.02%-0.05% | unknown | unknown | 0 | Varies | Varies |
| Crypto.com | starts from 0.075%-0.075% | unknown | unknown | 0.017%-0.034% | 0 | Varies | 1 USD |
| Coinbase | 0.40%-0.60% | unknown | unknown | unknown | unknown | unknown | unknown |
1. ByBit
ByBit, established in 2018, is known for its quick and user-friendly trading platform. It lets people trade spot, futures, and options. ByBit also provides leverage up to 100x for futures contracts and has AI risk controls to keep trading safe. Fees start as low as 0.1% for spot trading.
- Spot Trading Fee: starts from 0.1%
- Futures Trading Fee: 0.02%-0.0550%
- Options Trading Fee: 0.02%
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: 2 USDT
- Minimum Trade Amount: 1 USDT
2. Binance
Binance, founded in 2017, is the world’s largest crypto exchange by trading volume. You can trade spot, futures, and options, or even use DeFi features and staking. Binance’s low fees and many trading pairs make it a go-to for both beginners and experienced traders.
- Spot Trading Fee: starts from 0.075%
- Futures Trading Fee: 0.02%-0.05%
- Options Trading Fee: 0.3%
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: 1 USDT
3. OKX
OKX is a worldwide crypto exchange with spot, futures, options, and perpetual swaps. It offers DeFi tools like staking and has low fees starting at 0.08% for spot trading. Its high liquidity and diverse trading products make it ideal for traders of all levels.
- Spot Trading Fee: 0.08%-0.1%
- Futures Trading Fee: 0.02%-0.05%
- Options Trading Fee: 0.02%-0.03%
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: 1 USDT
4. Huobi Global (Now HTX)
Huobi Global, founded in 2013, is one of the earliest crypto exchanges. It supports spot, futures, margin, and staking services. The exchange has hundreds of trading pairs, with spot trading fees starting at 0.2%, making it one of the cheapest crypto exchanges. Its strong security makes it a trusted choice for traders.
- Spot Trading Fee: 0.2%
- Futures Trading Fee: 0.02%-0.05%
- Options Trading Fee: unknown
- Derivatives Trading Fee: unknown
- Deposit Fee: unknown
- Withdrawal Fee: unknown
- Minimum Trade Amount: 1 USDT
5. BitMex
BitMex, started in 2014, is among the cheapest crypto exchanges and is famous for its derivatives trading, especially perpetual contracts, and futures. It allows up to 100x leverage on Bitcoin contracts, which is a big draw for expert traders. Fees range from -0.025% (maker) to 0.075% (taker) for spot trading.
- Spot Trading Fee: 0.025%-0.075%
- Futures Trading Fee: unknown
- Options Trading Fee: unknown
- Derivatives Trading Fee: 0.02%-0.0750%
- Deposit Fee: 0
- Withdrawal Fee: 0
- Minimum Trade Amount: 1 USD
6. PrimeXBT
PrimeXBT, launched in 2018, is all about trading cryptocurrencies, forex, and commodities. You can leverage up to 100x on spot trades or try social trading using the Covesting feature. With low fees starting from 0.01%, it’s ideal for diversifying across different markets.
- Spot Trading Fee: starts from 0.01%-0.02%
- Futures Trading Fee: unknown
- Options Trading Fee: unknown
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: 0.001 BTC
7. Bitget
Bitget, founded in 2018, focuses on futures and spot trading, and its Copy Trade feature lets people copy strategies from expert traders. With futures trading fees starting at 0.02%, Bitget offers more than 250 cryptocurrencies, making it one of the cheapest crypto exchanges, great for beginners and experts alike.
- Spot Trading Fee: 0.1%
- Futures Trading Fee: 0.02%-0.06%
- Options Trading Fee: unknown
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: unknown
8. Kraken
Kraken, founded in 2011, is known for its strong security measures and fair trading rules. It has spot, futures, and margin trading, with spot fees beginning at 0.25%. Kraken supports over 200 cryptocurrencies, giving both new and experienced traders a secure and easy platform.
- Spot Trading Fee: starts from 0.25%-0.40
- Futures Trading Fee: 0.02%-0.05%
- Options Trading Fee: unknown
- Derivatives Trading Fee: unknown
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: varies
9. Crypto.com
Crypto.com has a strong exchange along with extra features like DeFi, staking, and crypto Visa card rewards. Spot fees start at 0.075%, and you can trade derivatives with up to 50x leverage. Founded in 2016, Crypto.com aims for security and freedom with its many features while being one of the cheapest crypto exchanges for traders.
- Spot Trading Fee: starts from 0.075%-0.075%
- Futures Trading Fee: unknown
- Options Trading Fee: unknown
- Derivatives Trading Fee: 0.017%-0.034%
- Deposit Fee: 0
- Withdrawal Fee: Varies
- Minimum Trade Amount: 1 USD
10. Coinbase
Coinbase, started in 2012, is a popular U.S.-based exchange with a simple and easy-to-use platform. You can trade spot, use staking, and start with fees as low as 0.40%. With strong security and helpful learning tools, it’s a top pick for new crypto traders, exploring the cheapest crypto exchanges in 2024.
- Spot Trading Fee: 0.40%-0.60%
- Futures Trading Fee: unknown
- Options Trading Fee: unknown
- Derivatives Trading Fee: unknown
- Deposit Fee: unknown
- Withdrawal Fee: unknown
- Minimum Trade Amount: unknown
FAQ
What is the cheapest crypto exchange for traders?
In 2024, ByBit, Binance, and OKX are often considered among the cheapest due to their competitive trading fees, low or zero deposit fees, and wide range of trading pairs. The best option for you will depend on your specific trading needs, such as the assets you plan to trade and the features you require.
Which crypto exchange has the lowest fee?
ByBit, Binance, and PrimeXBT are known for offering some of the lowest fees across different trading categories in 2024. ByBit and Binance have low spot trading fees starting from around 0.1% and 0.075%, respectively, while PrimeXBT has spot trading fees starting from 0.01% for some assets.
Each exchange’s fee structure is unique and can vary based on trading volume, user status, trading strategy, and the specific coins you want to trade.
What is the best crypto trading strategy?
There’s no one “best” strategy for crypto trading since it depends on your goals, risk tolerance, and the market.
Here are a few popular strategies:
- HODLing: Holding onto your crypto for the long term, expecting its value to grow over time. It’s simple but requires patience and a strong will to ride out market swings.
- Day Trading: Buying and selling within a single day to make quick profits. You need good technical analysis skills and an understanding of market trends.
- Swing Trading: Holding trades for several days or weeks to make money from price swings. It uses both technical and fundamental analysis.
- Scalping: Making many small trades quickly to profit from little price changes. It needs fast thinking and strong discipline.
- Arbitrage: Earning from price differences between exchanges. This can be profitable but tricky due to fees and timing.
Check out our complete guide on the best trading strategies, where we break down each of them in great detail to help you find what suits you the most.
What are the tax implications of trading crypto?
The tax rules for trading crypto can differ depending on where you live, but here’s what usually happens:
- Capital Gains: If you sell or trade your crypto for more than you bought it for, the profit is called a capital gain. You might have to pay taxes on that gain. If you held onto the crypto for less than a year, the tax rate might be higher than if you held it for longer.
- Income Tax: If you get paid in crypto for work or services, it’s considered income. You’ll owe taxes based on what the crypto was worth when you received it.
- Reporting Requirements: In many countries, you have to report your crypto trades to tax authorities. This usually means keeping a record of all your transactions. Bitcoin.Tax streamlines this process for you by automating collecting trade history, calculating gains and taxes, and creating a tax report.
Check out our tax guides by country to learn how crypto is taxed in your specific region.