How to Trade Cryptocurrency Without Paying Fees

[Goldlife]

We explain how to trade cryptocurrency without paying fees (i.e., how to go from USD to cryptocurrency and back again without paying fees).[1][2]

The page originally focused on using Coinbase Pro (previously known as GDAX) to avoid fees, this method was great as you could deposit dollars for free, then move your dollars to Coinbase Pro and place limit orders there for free. However, starting March 22nd 2019 Coinbase Pro ended free limit orders and then over the course of 2019 gradually replaced them with rather steep fees starting at 0.5% a trade (with discounts for volume).

Given the change to Coinbase Pro, there are no longer any major exchanges that allow zero-fee trading without some additional requirement or limitation.

With the above said, there are a few major exchanges that have reasonably low 0.1% fees including Binance. These fees can be made even lower by using referral codes, trading a lot, and/or by using the tokens of these exchanges. For example, when you use Binance’s tokens to pay your fees you get a discount on your trading fees, and when you use a referral link you get a discount on top of that (for example, you can get 10% off Binance fees for life with this link: https://www.binance.com/en/register?ref=IX44CLLS).

Meanwhile, some exchanges incentivize users with zero fees as a promotional offer. This typically means accepting some additional requirements or limitations as noted above. For example, FTX currently has a promotional deal for free limit orders if you stake 25 FTT (you can save an extra 5% on taker fees too with code https://ftx.com/#a=HowToReferral). Meanwhile, Robinhood and Blockfolio (see below for codes) have $0 fees, but both have limited functionality and selection.

So here in March 2021, trading crypto without fees generally means either using a platform like Robinhood or FTX where selection and functionality are limited or meeting extra requirements like with FTX. Meanwhile, trading for low fees means picking an exchange like Binance and then taking part in the discounts.

So, the good old zero-fee Coinbase Pro days are gone, but that doesn’t mean there aren’t ways to save money on fees (especially here in 2021 where crypto exchanges have really ramped up the competition).


More info: https://cryptocurrencyfacts.com/trade-cryptocurrency-without-paying-fees/