Good day. Today I want to talk about spreads and commissions when trading cryptocurrencies. As in the stock and forex markets, on exchanges or platforms, when buying and selling digital money, of course, there are also commissions for their use. I’ll tell you more later, let’s get started!
How to take into account the commission in the cryptocurrency?
Commissions when buying and selling tokens should be taken into account since they can differ significantly from different exchanges and platforms. And if you trade large amounts, for example, more than 10,000 USD, then you can save a significant amount of money on commissions. And the money saved is the money earned!
So, on which exchanges is it more profitable and cheaper to trade crypto? The best exchangers are Bitkub and Binance for these purposes. Compared to other exchanges, they have the lowest commissions and spreads for buying and selling digital tokens. But Bitkub is more suitable for residents and travelers in Thailand to exchange Thai Baht for Bitcoin or altcoins and vice versa.
Which crypto exchange has less commission?
Binance is suitable for any trader, regardless of where they live. By the way, there are three more convenient options on Binance for buying digital money cheaper. The first is a P2P platform, for the direct purchase of tokens from other users, through the exchange itself, Binance in this case acts as arbitration and guarantees the security of the exchange. Here are the lowest commissions!
The second is the direct purchase of coins from a debit bank card from any country. Of course, the commission here is slightly higher than when transferring funds from Bitkub, but it is much faster and easier. The third is from a branded Binance debit card, which can be ordered online. However, before ordering a crypto card, check whether it is available in your country or not.
How to save on commissions in cryptocurrency?
I have already said that it is better to use Binance and Bitkub to trade, buy and sell digital money. How else can you reduce the cost of the commission? There are several ways here too. The first one is to buy BNB, which will allow you to receive an additional discount. The second is to constantly trade on the stock exchange and participate in trading competitions, opening deals in both Long and Short.
Unfortunately, this requires large trading volumes and amounts from 10,000 USD. The name is positive statistics, Binance will start increasing your rank on their platform and give you a VIP level. There are several such levels, and the highest one gives the maximum discount on token trading. It is also possible to increase the level by attracting other traders to the exchange.
The video on the topic “cryptocurrency spreads and commissions” has been completed. I advised you on which exchanges it is more profitable to buy and sell coins, how to reduce the commission, and extract the maximum profit at the same time. This concludes this video and see you soon at botcryptotrade.com