Commissions in crypto trading have, for a long time, been assumed to be a “necessary evil.” We have resigned ourselves to its negative impact on our profits. But is it really inevitable to lose part of our profits in each operation? In this article, we take an in-depth look at how fees affect them and how to buy crypto without paying fees.
Paying commissions is starting to lose
Every time you buy or sell a crypto, you have to pay a “small toll” in the form of commissions. At first glance, they seem insignificant, but in the long term they have a considerable effect on your profits, especially if you trade daily or in small amounts.
To see it more clearly, let’s say you invest $1,000 in Bitcoin on an exchange that charges a 1% commission per trade. Before the market moves, you have already lost $10. To cover that cost, the price of Bitcoin has to increase by at least 1%. If not, you will be at a loss from the beginning.
In short, paying commissions means starting out losing on every trading operation you make.
Which platforms charge you more and which less?
Commissions vary between crypto exchanges, but virtually all of them charge you some type of commission. Here you can see a comparison of the commission rates in some of the most used exchanges:
- Binance: One of the main exchanges globally, with commission rates ranging between 0.1% and 0.5% per transaction. They are competitive, but if you trade frequently, you will notice that even these small commissions add up and affect your profits.
- Crypto.com: Another popular exchange that offers similar fees, they range between 0.075% and 0.4% for takers, with discounts if their CRO token is used. Its interface is simpler than Binance’s, making it an ideal option for beginners. However, just like Binance, these fees will end up eating into your profits at the end of the day.
- Neverless: perhaps the least known but it stands out for charging 0% commissions on all its transactions. This mobile app, developed by former executives of the neobank Revolut, allows users to buy and sell cryptocurrencies without any commission or hidden costs. Check their rates here.
- Coinbase: It stands out for its ease of use, however its commission rates are high, ranging between 0.4% and 0.6% depending on whether you are a “maker” or “taker.” However, on their advanced platform (Coinbase Advanced), the fees drop to 0.05%-0.6%.
- Bitso: Very popular exchange in Argentina and Mexico, its commissions range between 0.1% and 0.65% per transaction. Although more accessible than Coinbase, if you trade constantly, the commissions will affect your profits.
Even when comparing the lowest fees, like those of Crypto.com, with Neverless, you will see a big difference. You can check it out yourself in this videowhere we buy Bitcoin on both platforms. But, paying the same, at Crypto.com you get less Bitcoin for your money because they are charging you commissions, and this must be multiplied for each operation you make.
Neverlessthe alternative to not paying commissions
The app allows you to trade with more than 400 cryptos, which makes it an interesting option whether you are one of those who prefers to invest in traditional cryptos or if you are looking to invest in emerging cryptos or memecoins, which are usually more difficult to find in others. exchanges. For example, at Neverless you can trade HMSTK (Hamster Kombat) tokens with absolutely 0 commissions. Furthermore, another aspect worth highlighting is that not only does it not charge trading commissions, but it also allows you to make deposits and withdrawals at no cost, something that no exchange offers at the moment.
Until now, paying commissions when investing in cryptos was inevitable. But alternatives like Neverless are showing that it is not necessary to resign yourself to paying this “toll.” By offering a commission-free trading model, it is redefining what users can expect from an exchange.
Although it is not clear whether Neverless will maintain the 0% commission policy indefinitely, in a market as volatile and competitive as crypto, taking advantage of these types of opportunities while they are available can make a difference in your long-term profits.
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