Using lowest fee crypto exchange is the smart way to save on fees.
Do you wanna know why?
As an impulsive buyer, you may not pay big attention to it. But the Bitcoins you pay today as transaction fees, could mean a lot of lost money in Bitcoin business.
Several cryptocurrency exchanges now charge low transaction fees, as they look to attract more customers to their crypto platform.
To help you avoid that kind of problem, I’ve put together this article to guide you with the cheapest places to buy Bitcoin crypto-coin online.
Let dive straight in!
Crypto exchange with lowest fees
These cryptocurrency exchanges are based on the ones I’ve personally used to purchase different amount of Bitcoin, as well as some other cryptocurrencies.
Binance (Best recommended)
To learn more about this cryptocurrency exchange, read my detailed Binance review.
- Low trading fee of just 0.1%
- 120+ coins available (in addition to Bitcoin)
- Very high security standards
- Interface can be confusing for beginners
- No option to buy Bitcoin with USD, EUR, or GBP
Binance charges a trading fee of just 0.1%. Interestingly, this fee can even be reduced further, by using the BNB coin (Binance’s native cryptocurrency) to pay transfer fees.
To get low withdrawal or transfer fees on Binance, I would recommend you read my guide on how to reduce Binance transaction fees.
Binance also charges a withdrawal fee of $1-5 depending on the crypto-coin that you are withdrawing. These low fees make Binance a great way to buy cheap Bitcoin.
LocalBitcoins was launched in 2012 as a platform enabling in-person trades with Bitcoin. Throughout many years, the crypto exchange marketplace became popular in countries that banned BTC.
- Commissions can be high in some cases
- Meeting in person with a Bitcoin seller can be dangerous
- User interface is not very intuitive
LocalBitcoins charges 1% fee when a trade is completed through the platform. However, the fee structure gets a bit more complicated than that, somehow.
Since this P2P (Peer-to-Peer) Bitcoin marketplace, an individual that has the liquidity to fulfil your order (either to buy, or sell Bitcoin to you) decides the commission to charge.
This commission usually ranges from 5 to 12% depending on the vendor.
CEX is a low fee exchange that is also great for beginners, due to its intuitive user interface. The platform has been around since 2013, and has proven to be safe and reliable.
- Low trading fee of just 0.25%
- Intuitive to use
- Available 220+ countries
- ‘Instant Buy’ feature comes with a hefty fee
CEX is one of the very few crypto exchanges that do not charge a withdrawal fee. The only costs associated with buying Bitcoin on CEX are a low transfer fee of just 0.25%.
If you want to buy Bitcoin cheaply, do not make use of CEX’s ‘Instant Buy’ feature. Buying BTC through the feature box comes with a 7% fee.
Furthermore, you should also only deposit money with a bank transfer or SEPA, since it is free. If you make use of VISA, or Mastercard to buy Bitcoin, then you will be charged an additional 3.5% fee.
How to buy and transfer Bitcoin cheaply
Binance is perhaps the unicorn of cryptocurrency industry. It is a fully fledge crypto exchange, which is ideal for beginners, and for pro users.
Recently, Binance added a feature that lets you buy Bitcoin using a master, or visa card.
For sake of achieving the simple aim of reducing transaction fees to buy Bitcoin in a cheapest way, we are going to use Binance as the fee is one of the lowest in the cryptocurrency market.
To get started, follow the steps:
- Create an account on Binance
- Click on Buy Crypto > Credit/debit card
- Enter the amount between (USD 15-5000)
- Pay with visa/master card
- Complete the verification (5 minutes)
- And complete the purchase.
Congratulations… you’ve bought your first ever Bitcoin cryptocurrency the cheapest way possible on the market!
Which crypto exchange has lowest fees?
You need to be careful with cryptocurrency websites that bluntly advertise buy cheap Bitcoin. You need to look at their reliability and authenticity, else you might become a victim of a crypto scam.
These websites listed above are the best platforms you can use to buy cheap BTC, and at the same time, have a proven track record.
In my own advice, I would recommend you buy Bitcoins on Binance exchange platform, because they have the lowest transfer and withdrawal fees.