Buying and selling cryptocurrency is something more and more people are getting interested in. The crypto market is attracting new investors and traders every day because of the possibility of gaining high profits.
But a major drawback of crypto trading is the high commission fees for every transaction. So it is natural for many the users to look for free cryptocurrency trading platforms. While most of the exchanges currently offer their services at minimal fees if not free, there are many platforms that go very steep with their fee structure.
There exist some exchanges offering free trading but the reliable and well-established platforms no longer offer their services for free. In this article, we will try to discover if there are any trading services available for investors at no charge. We will also explore how you can go about the crypto trading process in a much cheaper manner.
What is the Best Case Scenario?
The best scenario is to get a platform that only asks for 0.1% of commission fees. Many exchanges also operate on promotional offers and referral codes which decreases the commission. One can also reduce the amount of payment by using that exchange platform extensively.
Discounts are applied to loyal customers and people who share referral links. Additionally, many platforms also offer a $0 commission on signing up. However, this condition often comes with some limitations that may require the user to share referral links or use the tokens offered by that particular exchange.
While having to pay no additional charges at all is the best-case scenario, one should not blindly trust any platform which offers it. It is important to only pick an exchange platform that has good reviews by the users and is used by many members of a particular trading community.
The current scenario allows for using free services only when the range of functionality is severely limited. Minimal payment is the best bet to continue with regular trading without any hiccups.
How To Trade Crypto Cheaply?
There are many different ways to treat cryptocurrency without commission. It essentially includes using different service providers and making use of their discounts and offers. The platform Robin Hood allows for trading cryptocurrencies without any commission. The users will also get some stock on signing up which is a good enough deal for many investors.
Further profit can be gained by sharing the referral links with other investors and friends. There are also promotional offers that allow for about a 10% of deduction on the overall payment. One has to choose which promotional offer they would want to apply for because different exchanges have different benefits.
The frequency of trading will also decide how well a promotional offer can work for a particular user. Essentially, the best a user can do at this point is to take up as many promotional offers as they can and compare them to the tokens they trade.
Whatever suits them best should be chosen for long-term use to reap benefits for regular traders. While getting an exchange to trade for free might still be possible, the more reputed sites are now charging for their services which are expected from any platform which has a good community backing.
Another way to get a good deal with each exchange is through an agent. For instance, when one wants to get NFTs, having a service provider who knows the ins and outs of the market may be very beneficial. It is essential to understand how to go about the process which a service provider like NFTSystem can help you out with.
What Are Some Free Exchanges Currently Operating?
We have already mentioned how to reduce the commission on major platforms which no longer offer their services for free.
However, if you are willing to take a chance on some of the newer service providers, we have good news for you. You can easily find some that still offer free trades if investors use their platform for their transactions. Here are some zero-fee crypto trading apps:
1. Phemex
This is an alternative that offers simulated and spot trading to all of its users. They do not charge any additional commission on their spot trading services. It is beneficial for any beginning users. They offer an exchange of major coins like BTC, ETH, and XRP.
They are an international trading platform and are extensively used by users in Canada, the US, and the UK. It supports 300k transactions per second and also offers a competitive pricing structure which is beneficial for the investor.
2. Digitex Futures Exchange
Digitex or DFE is a site that is preferred by many members because of peer-to-peer exchanges. The blockchain technology of this particular service provider is built on Ethereum’s blockchain and gives fast transaction services.
Their native coin is the DGTX token. On the website, it can be traded without any extra charge. It is a solution for many traders who want to trade on a higher frequency. There will be no worries about the commission fee eating up your profits with this service.
3. Crypto.com
This is essentially a digital asset platform. They also function as an exchange and have a community of 10 million users. Their services allow each investor to buy, sell and trade different currencies right from one place.
The developers are improving their technology to provide better services. The investors get a 0% trading fee for the first three months which is a great offer for any beginner who wants to learn the ropes of trading. There is also a 0% credit card fee and very stable coin conversions.
The Takeaway
In today’s market, there is a lot of demand for secure networks that protect the digital assets of the customers. For their services, many platforms have begun charging a fee that may or may not be nominal.
A future investor or trader should therefore look into the offers they can make use of to get some added benefits. Free platforms are also available if you want to try them.
