The Block analyst Larry Chermak analyzed the trading commissions of 20 leading cryptocurrency exchanges to determine the most expensive and cheapest of them for users.
Exchanges levy fees on makers (sellers – liquidity providers) and takers (buyers). The commissions for the latter are often higher, and for the former they are sometimes absent altogether, the analyst recalled.
Exchanges, as a rule, set the amount of fees depending on the user’s trading volumes for the previous month. On some platforms, there is a system of discounts on fees, for example, depending on the size of the deposit in exchange tokens.
Given all the possible factors, in general, the cheapest spot exchanges were Binance US, FTX, OKCoin and Poloniex.
For retail traders ($ 10 thousand per month), the most profitable platform for fees is FTX. Coinbase, bitFlyer EU, Bitstamp and Gemini were the most expensive for this category of users.
The picture is changing for other categories of traders. The analyst identified three more by monthly trading volume: $ 1 million, $ 10 million and $ 100 million (institutional level). For the latter category, for example, Coinbase and Gemini were already among the low-cost collections.
ItBit exchange is the only one that offers discounts to takers for all levels of traders, but for makers it is one of the most expensive in all categories.
Earlier Chermak analyzed the depth of liquidity on exchanges. In the USD / BTC pair, Bitfinex was the highest, followed by Coinbase, Kraken and Bitstamp.
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