For those experienced traders, they’ll be well aware that the most popular cryptocurrency trading platforms in the world, the likes of Bianance, Coinbase, and Bisq, take a small fee from the client’s account balance when they complete a trade. Many traders consider this worthwhile, as these larger exchange platforms offer a certain level of security through their large global communities of users in what is otherwise mostly an unregulated sector.
Many traders are turning to smaller less-known exchanges to avoid incurring these fees. But, where to find them? Well, cryptowisser is the site for making exchange comparisons and the perfect resource for finding complete lists of cryptocurrency exchanges offering coin trades with zeromaker fees. Traders can buy, trade and sell Bitcoins and crypto assets without paying a maker fee.
Maker fees are generally quite low, but for active full-time investors the elimination of these could mean the difference between a profitable year and a losing one.
H2 Avoid paying maker fees
Crypto exchanges can generally be split between those that remove taker and maker fees, thereby appealing to different areas of the market. Typically, maker fees are lower than taker fees, as the makers create liquidity on the exchange by producing orders in the order book.
It’s important to recognise that fees generally do affect all trades, but it extends beyond that as traders. Fees are in place to encourage traders to buy, sell, and trade coins in larger amounts on a regular basis. It’s those that are making infrequent trades or for small sums that will feel the detriment of fees the most.
At cryptowisser, there is a list of the top 20 zeros maker fee sites for traders to keep up to date with the very best exchanges. While the majority of the most popular trading platforms don’t offer no maker fee trading, there are still many that do. The page is constantly updated, so users will get the latest updates and adjustments made across all registered exchanges.
H2 How are Maker fees calculated?
Commonly, exchanges will charge three types of fees when a trade is completed. These are maker, taker and withdrawal fees, which vary in value and aren’t always used by cryptocurrency exchange platforms. So, it’s always worth checking with the one you’re using to see what the fees attached to trades will be.
Maker fees are calculated in two different ways, depending on whether the trade is buying or selling coins. Let’s take for example a trader who is looking to buy; the trader will inform the exchange of the desire to buy a coin at price X, but X price is lower than what the current market offers – as in, nobody is willing to sell at that price. This means that the buyer is looking to trade at a value that is below the market value in the eyes of other traders on that platform.
The alternative would be the seller, who similarly would request a sale through the exchange at price Z, but price Z is higher than the current highest price anyone is willing to buy at that particular exchange. Ergo, the seller is demanding too high an amount of money in the eyes of the other users.
In both cases, since the request cannot be matched to an existing request from another maker, the trader has created liquidity by adding your trade to the order book. This order will remain there until the offer is accepted by another user, it expires, or the trader cancels it.
Now, from the exchanges point of view, it can promote or penalize the making and taking at it’s own discretion. As such, high volume traders will often receive reduced fees. So, no matter if you’re buying or selling, take a look at the various maker fee free exchanges now listed at cryptowisser to find the right platform for you!