Best Zero-Fee Cryptocurrency Exchange In 2022

Who wants to pay an extra fee on the transactions of your crypto trades?

Spending money from your own pocket on trading fees sometimes feels like a burden.

What if I tell you there is no need for it anymore? Yes, that’s true there are some cryptocurrency exchanges that offer zero-fee trading.

I am here to help you choose the best option among the best crypto exchanges that charge zero fees and come with loads of features.

So without further delay let’s dive into the topic.

Zero Trading Fees Cryptocurrency exchanges

  • Binance.US
  • Phemex
  • Crypto.com
  • Binance.com
  • Lykke
  • Robinhood

Now, let’s discuss what these exchanges have to offer.

#1. Binance.us

Binance us

Starting with Binance, a well-known and prominent name in the cryptocurrency market, it was founded in 2017 and was initially based in China.

Binance at the moment the largest crypto exchange in the world and offers tonnes of products and services related to cryptocurrency trading. More than 100 crypto coins are available on the platform to trade with lower fees from many of the other prominent crypto exchanges in this space.

You can trade Bitcoin, Ethereum, Ripple, Solana, Litecoin, etc. and forget about paying fees on crypto purchases.

You can create an account in minutes and start buying, managing your wallet as well as maintaining your portfolio instantly. On Binance, you can also automatically invest on a scheduled basis with dollar cost averaging. It is known as the best cryptocurrency exchange for a reason.

With state-of-the-art advanced security features, including two-factor authentication via the Google Authenticator app and address whitelisting where you can manage and specify which addresses you want to trade with.

Additionally, there is a device management system where you can restrict device access to your account if necessary.

The exchange is also FDIC insured on all U.S. dollar balances. Apart from these military-grade security features, the reputation Binance holds is enough to realise that your funds are safe on this platform.

It offers a variety of trading tools, real-time market data as well as charting tools with moving averages and exponential moving averages.

There are also the following order types to choose from:

  • Stop Order
  • Limit Order
  • Stop-limit Order
  • Stop-market Order
  • Trailing stop Order

It is the only major exchange to offer Free Bitcoin Trading in the U.S. You can enjoy 0% fees on Tier 0 pairs and some of the lowest fees in the industry. With all these features and security the platform provides, Binance.US is a pretty good deal for sure.

Trading fees depend on your 30-day trading volume, calculated on a rolling basis every day at 8 p.m. EDT. You can also get a 25% discount on advanced trading (spot trading) fees when you pay with BNB.

The trading fee structure follows a maker/taker fee structure and is categorized into 9 VIP levels. You can go through the following table to understand it better.

binance us maker trader fee

This platform doesn’t charge you any deposit fee but charges comparatively low fees for withdrawals of 0.0005 BTC, which depends on the currency’s exchange rates.

On Binance, in order to upgrade your tier level and enjoy the benefits associated with it, you need to complete the KYC procedures. You just need to select the ‘User Center’ icon present on the top right corner of the home screen and click get verified. You need to submit your government-verified identification documents.

Once you are done with the basic KYC procedure, you can enjoy $50K daily fiat deposit & withdrawal limits, unlimited crypto deposit limit, 100 BTC daily crypto withdrawal limit and unlimited P2P transaction limit. As well as access to select Binance products, including launchpad, OTC, Binance Card and more.

The platform types- basic, advanced and OTC (for P2P trading) attract a variety of traders, from beginners to professionals. The developer’s team have done a great job in keeping the platform intuitive and user-friendly despite having so many features and functionalities.

You can reach Binance.US customer support agents via 24/7 email or live chat. Additionally, you can also refer to the FAQ section for commonly asked questions in its support centre.

The binance.US application is available for all your devices. It serves everything whether your PC works on Windows, macOS or Linux. Even you can access it on your mobile phone, compatible with both iOS and Android. So, what are you waiting for?

 

#2. Phemex

phemex

Another popular crypto exchange in the crypto space is Phemex, founded in 2019 and based in Singapore. It is among the best cryptocurrency exchanges considering its crypto trading offerings.

With more than 5 million users worldwide and 30+ liquidity providers, Phemex has gained tremendous popularity in a very short period. The interface is available in more than 200 countries.

It has a powerful and loaded interface that can execute more than 300,000 transactions per second. With advanced functionalities and trading features, it has the strongest wallet security combining cold storage compatibility and two-factor authentication.

On Phemex, there are more than 240 crypto trading pairs, and it compiles all the significant crypto assets like BTC, ETH, BCH, and the list goes on. You can get the most out of your crypto investments through various products available on Phemex to trade crypto; they are:

  • Over-the-counter Trading
  • Spot Trading
  • Derivatives Trading
  • Leverage Trading

Phemex offers derivatives trading in multiple perpetual contracts with up to 100x leverage. You can open leveraged positions with over 40 crypto pairs, including BTC/USD and ETH/USD. On Phemex, there are multiple order types as well, giving you complete control of your trades:

  • Market Order
  • Limit Order
  • Stop Order
  • Buy-Stop Order
  • Sell-Stop Order
  • Stop Market Order
  • Stop Limit Order
  • Trailing Stop

Phemex uses a fair price mechanism that helps prevent forced liquidation when the margin gets below the required margin level. The platform does this to avoid the loss of the initial margin that comes with liquidation. Additionally, it also uses risk limits for more significant positions that often require a higher margin to keep open.

When the liquidation is triggered, the Phemex liquidation engines will cancel all the open orders for a particular position to free up more funds and help raise funds to keep the margin at the maintenance level balanced.

Phemex fee structure follows a maker/taker fee model for futures as well as leverage trading. It charges 0.075% for takers and a rebate of 0.025% for makers. A funding fee is charged between long and short positions every 8 hours.

Additionally, there are no overnight fees charged on Phemex. For spot trading, Phemex charges you a 0.1% fee per order with no fee for Premium and Premium Trial users.

Phemex facilitates its transactions through Banxa, a safe and secure payment gateway in itself. The exchange also accepts debit/credit card purchases and bank transfer from your savings account as funding methods for your wallets.

However, when it comes to withdrawals, it only supports cryptocurrencies, and you can’t withdraw funds in the form of fiat currency.

Phemex has a simple yet powerful user interface which is beginner friendly as well as suitable for intuitive trading.

phemex user interface

The Desktop platform gives you complete access to various order types; you can export your previous trades as well to other trading platforms and analyze your past performance to improve your trading strategies. It comes with the following features:

  • Chart and Trading View
  • Order Book
  • Trading View-powered chart
  • Order Menu
  • Live Positions
  • Recent Trades
  • Order Book Depth Chart
  • Crypto Perpetual Contracts Details
  • Trading Account Display

Phemex also has a mobile trading app available for Android and iOS. It comes loaded with all the features and functionalities of the desktop version. Giving you the freedom to trade anywhere anytime with your mobile phone.

Phemex implements military-grade security features for a secure and seamless trading experience. The exchange uses a strongly encrypted cold wallet system, gathering and storing most of your funds in a multi-signature cold wallet through an offline signature system. There is also Amazon Web Services (AWB), a leader in the cloud security systems industry.

It uses AWS cloud to secure its servers. Phemex also use firewalls based on different trading zones. It also comprises TradingEngine and CrossEngine to ensure minimal time lag and price delays.

Phemex offers 24×7 direct-line customer support. Additionally, you can even raise a ticket if you have any queries and can contact them via their social media platforms, including Telegram, Reddit, Twitter and Facebook.

It also has a help centre with a comprehensive FAQ section that answers almost all the common questions regarding opening an account, adding funds, etc. So, without a second thought, start trading on Phemex now!

 

#3. Crypto.com

crypto com

Crypto.com is another zero-fee crypto exchange introduced in the crypto market in 2016 in Hong Kong. With more than 50 million crypto investors and more than 250+ digital currencies, it is one of the best-decentralized exchanges.

It supports more than 20+ fiat currencies, and you can fund your account using bank transfers or a debit/credit card. Crypto.com also offers its own card with no annual fees, which you can top up using the fiat or crypto of your choice. Additionally, you can also earn 5% cash back on all your spending.

Crypto.com offers deep order book liquidity in all market conditions with a 2.7 million TPS matching engine and 50-microsecond core latency. There is also crypto staking available in built that lets you earn up to 14 per cent interest. The platform offers multiple trading products; these are:

  • Margin Trading
  • Derivatives Trading
  • Spot Trading
  • Staking

If you do not have any CRO staking, you will have to pay 0.4% transaction fees with a total monthly trading volume of less than $25,000. Trading fees are comparatively less than many of its piers. Higher volume traders can qualify for a fee as low as 0.04% as a maker and 0.1% as a taker without CRO staking.

For stakers, if you hold 5,000 CRO in your wallet, at that point, up to $25,000 in monthly volume have to pay 0.36% and the rate decreases as your staking gets larger. Other than this, three are no additional or hidden fees, making Crypto.com competitive in terms of the fee structure.

crypto com mobile app

Regarding security, Crypto.com is like a fortress, storing almost 100% in cold storage, making it unreachable from cyber attacks. Additionally, your data is encrypted with highly advanced systems as well as you can choose multi-factor authentication, address allow listing and bug bounty keeping your funds safe.

The company also provides a $360 million insurance cover for all the digital currencies and assets held on its platform. If you keep a USD balance, your funds will be insured for up to $250,000, given that the company, in turn, keeps the funds in a regular bank account.

Account opening is quite easy and similar to a traditional exchange, just sign up with your email, fill in the necessary information as directed, verify your phone number and complete the KYC procedures. As your account gets verified, you can instantly deposit and start trading with your account.

Its customer support team is available via its help page, email and live chat as well. The team is quite responsive and knowledgeable; they are available 24×7. Therefore, the features Crypto.com comes with, and the pricing it offers are just unbeatable. So what are you waiting for?

 

#4. Binance.com

binance com

Binance.com is the global platform offered by Binance, the parent company. As you already know, Binance is one of the world leaders in the crypto market. And the good news is they have also started offering zero trading fees as it’s the US version of trading crypto.

Together with zero-fee trading, the platform offers one of the best trading ecosystems for retail investors as well as beginners who are just starting their journey. Binance lets you buy crypto and store or sell cryptocurrency with ease. It integrates with any crypto wallet with ease and offers fiat trading capabilities.

Binance allows up to 50x leverage with a variety of trading products and services; some of them are:

  • Spot Trading
  • Margin Trading
  • P2P Trading
  • Futures Trading
  • Crypto Loans

There are more than 350+ cryptocurrencies listed with zero trading fees for Bitcoin and Ethereum. Trading fees have also been removed across 13 stablecoins and fiat combinations, namely BTC/USDT, BTC/BUSD, BTC/TUSD, BTC/USDC, BTC/USDP, BTC/RUB, BTC/EUR, BTC/TRY, BTC/AUD, BTC/GDP, BTC/BRL, BTC/BIDR and BTC/UAH.

The key features and functionalities of this trading platform are:

  • Advanced charting platform
  • Multi-level security
  • Insurance protection
  • Binance academy and knowledge base
  • User-friendly mobile app
  • Decentralized exchange platform

It comes with advanced charting features, order types, APIs, etc., that you find in Bybit or any other crypto exchange.

It provides best-in-class liquidity; you can short portions in the derivatives segment, trading in USDT margin perpetual futures, COIN-M Futures-the token margined futures contract with or without expiry and Vanilla options.

binance futures

Binance has a multi-tier security system that consists of two-factor authentication login to provide access to a safe trading experience.

It uses a combination of hot and cold wallets to store funds, with the majority of the funds stored in cold wallets. However, users on the platform are advised to store their funds in Binance’s Trust Wallet instead of the exchange wallet.

Customer service has three options, to submit a ticket, ask basic questions via chat or reach out via Twitter.

 

#5. Lykke

Lykke

Another great option to trade cryptocurrency with top-notch features and optimization is Lykke. It was launched in 2015 and is based in Switzerland. Lykke was established by Richard Olsen, the founder of a leading online forex broker, OANDA.

This trading platform is among the leading exchanges for a reason. Unlike most crypto exchanges, it has 0% commission fees and offers more than 18 funding methods, including credit/debit cards, PayPal, Skrill, SWIFT transfer, bank deposits and many more. Lykke is available in more than 117 countries globally.

More than 20 digital assets are currently supported on this platform with deep liquidity and multiple crypto-to-fiat pairs. You can fund your wallet by depositing as low as 50 EUR/USD/GBP/CHF via numerous methods.

Unlike other major exchanges, Lykke is entirely free, there are no maker/taker fees charged, and it offers low spreads covering all your fiat bank withdrawal fees.

The withdrawal transaction fee varies between 0.0005 and 20 depending upon the asset and trading volumes. These are the only fees you need to deal with on this platform. For more details, click here.

Not only this, but Lykke also offers top-notch security features with KYC and AML compliance standards like centralized exchanges.

Based on the KYC levels, the accounts on this platform are categorized as Advanced and Pro Individual account levels. Where Advanced level has a maximum monthly deposit limit amount of 50,000 EUR and requires an identity document, selfie, proof of address, and a questionnaire.

Whereas the Pro Individual level has customised limits based on user requests and documents. By default, it requires an identity document, selfie, proof of address and proof of funds.

Apart from this, the account opening process is quite simple as well. Just create an account with your email, choose a secure password and enter the details the platform asks for.

Now, submit the government-approved documents to be verified and as soon your account is approved (requires one business day). You can begin your trading by depositing funds in your account.

The platform is available as a web interface which you can access from your PC and also has a software application for your mobile devices, working on Android, iOS or Huawei operating systems.

Lykke ui

Apart from this, there are no hidden charges or inactivity fees on this platform, unlike other cryptocurrency exchanges with confusing fee structure and charges different fees for crypto trading.

Lykke Wallet offers a seamless yet powerful user interface, a robust API and a host of other professional tools for a best-in-class trading experience. Build and test your best trading strategies with strong, scalable, secure, and real-time market data APIs.

Regarding security, Lykke ensures that its system is secure and free from illegal activities by combining technical security measures and the highest compliance standards. The end number of security measures allows Lykke to create a safe trading environment where you can be sure of the safety and security of your account.

The three-tier KYC verification system, Anti- Money Laundering system and CFT regulations are some of the most essential components of its security features.

Lykke collaborates with Chainalysis to identify and report suspicious transactions within the AML and anti-crime legal frameworks. With these many features and functionalities, as well as the pricing it offers, there is no reason not to use Lykke.

 

#6. Robinhood

Robinhood

With an aim to help provide everyday people with easy access to the financial markets, Robinhood was launched in 2015 and is based in California. Initially, it offered brokerage services and made its way into the crypto world.

With more than 13 million users globally, the company is undoubtedly doing a great job establishing itself among the big players in the global market.

Robinhood stands for its statement and attracts a variety of crypto traders from around the world with their wide range of products; these are:

  • Futures Trading
  • Margin Trading
  • Options Trading
  • Brokerage
  • Spot Markets

Combining these products with different orders gives you complete control of your trading. These order types are:

  • Market Order
  • Limit Order

Robinhood is a commission-free platform with no trading fee and no additional or hidden fees to open an account, maintain or transfer funds to your account. The platform also provides multiple deposit methods via bank transfers and ACH transfers.

You can also direct deposit funds via tax refunds or paychecks. you can also set up automatic deposits on Robinhood to set a regular, recurring deposit from your bank account to your Robinhood account.

Apart from the web portal Robinhood also offers a mobile application which is relatively simple to use and comes with a clean and powerful interface. It provides all the features and functions like the web portal and works seamlessly with Android and iOS devices.

Robinhood has 3 accessibility levels on its platform. Firstly, when you register, your account by default will be at the Instant level, where you can deposit up to $1,000 and get extended trading hours.

Robinhood ui

The next level is Cash, where you can deposit up to the first $1,000. However, you will not have instant deposit access to any amount above $1,000.

The final level is the Robinhood Gold which is quite similar to the first level but with margin and higher instant deposits, where you need to pay $5/month. Apart from this, there is no fee charged when you buy or sell crypto.

To open an account, submit an application in your Robinhood app. When your application gets approved, get verified using your identification documents. Once that is done, you need to link your bank account with the platform to deposit funds, and you are ready to trade.

Robinhood has an impenetrable security system as well. You can choose to log in with face or fingerprint recognition. You can also opt for two-factor authentication, which is highly encouraged by Robinhood.

New logins or using an unrecognised device will require a six-digit code verification sent via text message or email. As this platform is a member of the Security Investor Protection Corporation (SIPC), it offers inbuilt protection of up to $500,000 for your security.

Customer support on Robinhood is also quite robust; with chatbot capability. You can even enter your phone number if you have other queries and can also contact them via social media platforms.

 

Conclusion

Using a zero-fee crypto exchange is a wise decision especially when they come with top-notch security features and industry standard functionalities.

The cryptocurrency exchanges which are enlisted here are undoubtedly the best options you can have in the crypto market today. They are perfect for all your trading needs giving you the best trading environment that you were longing for.

So, without a second thought choose the exchange that best suits your needs and start your trading journey now!!!

nv-author-image

Jack Bailey

I am John, a veteran trader turned into a trading coach. Especially in the realm of cryptocurrency derivatives which is now booming and expected to grow big.

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