A Discussion On How Much It Costs to Buy Cryptocurrency At Exchanges? – Part 2

The Continued Discussion

The discussion carries on as they determine which exchange is more feasible for developers and investors alike. So read along for the complete list of popular exchanges. As the trading fees vary it is difficult to differentiate which one is the best. 

Coinsbit

It happens to be that the Coinsbit which is an Estonian platform has focused on security and innovative offerings such as InvestBox, a low-cost low-risk way thereby for investors to make exploratory transactions involving new altcoins. Thereby when it comes to fees, Coinsbit charges a flat 0.2% fee for trading. It was therefore observed that the exchange also comes with variable fees for deposit and withdrawal depending upon the cryptocurrency as well as with different minimums for each token as well. Hence the fee to deposit USD was around 0.8% as also the fee to withdraw USD was 0.4% as some of the cryptocurrencies come to be free to deposit as others are free to withdraw. 

Hereby the fact that additionally new accounts are initially prohibited from making withdrawals with the basic accounts having a withdrawal limit of USD 500 or an equivalent per 24-hour period. Whereas those enhanced accounts can withdraw up to USD 100,000 or equivalent in 24 hours. 

BitForex

Thirdly we present which is the popular cryptocurrency exchange by trade volume known as BitForex and exchange headquartered in Singapore and registered in Seychelles as it offers a host of trading options that also include the likes of margin trading, derivatives, as well as more of them. Hereby this exchange then has a more complex fee schedule than some of its peers on the long list.

Thereby it is known that for spot trades, the BitForex charges 0.1% for both maker and taker feeds. Thereafter for perpetual trades, it is that there is a maker fee of 0.04% as well as a taker fee of 0.06%. Henceforth the discounted rates come to be available for those specialized market maker accounts on the platform. Hereby the deposits to Bitforex are free while withdrawals vary depending upon the currency involved, as there are also minimum and 24- hour maximum withdrawal levels associated with each cryptocurrency

LBank

The next one is LBank that being a popular cryptocurrency exchange supporting innovation in the altcoin space as through its LBK Voting Listing event as it pits new cryptocurrency projects against one another for a chance to be listed on LBank for free.

Thereafter the charges are as follows where a taker fee of 0.2% and a maker fee of -0.05% as it means that makers earn a portion of the generated trade fee on the transaction. Hence different cryptocurrencies are associated with various withdrawal rates being set a fixed quantity of those cryptos themselves. Therefore, as an example, a user withdrawing bitcoin from LBank will be charged a flat fee of 0.0005 BTC as there are also withdrawal minimums for each cryptocurrency that are also set thereby as the fixed quantities of the token that are in question. 

Thereafter it is interesting to note that LBank does not indicate a maximum withdrawal over 24 hours. 

P2PB2B

The last one in the list is known as P2PB2B which is one of the most extensive lists of trading pairs coming with more than 700 possible combinations as P2PB2B regularly sees daily trade volumes that are close to $ 1 billion. It is therefore observed that like Coinsbit, P2PB2B charges what is a flat 0.2% fee for trades. Thereby the users can deposit most cryptocurrencies including BTC and ETH for free. Thereby it is noted that however there comes a charge of either 4% or 5% to deposit USD into an account, depending upon the method of deposit. It is here that the P2PB2B sets minimum deposits and withdrawals in most cases and charges a variable withdrawal fee depending upon the cryptocurrency. Therefore, it is similar toLBank as withdrawal fees vary from token to token but are assessed as fixed quantities of tokens. 

The Final Words

Hence, we have now the knowledge of what each exchange charges as well as which are the best among the exchanges. Hence it follows that the crypto comes to be well traded with the rise of many exchanges. The trading isn’t just confined to bitcoin as many others are providing similar services. We wind up here but make sure to get more info from the following posts. Stay tuned while we get back with more info.