The biggest cost of buying Bitcoin (BTC) is the fees applied by the crypto platform. On average, investors pay 0.1% to 2% on all trades, impacting profitability. However, several trustworthy cryptocurrency exchanges and brokers offer Bitcoin at competitive rates.
This page covers the best cryptocurrency platforms with the lowest fees for buying Bitcoin and other cryptocurrencies. Also, we’ll discuss their best features, investment opportunities, and pros and cons.
Best Bitcoin Brokers With Lowest Fees in 2023
We’ve researched the best Bitcoin brokers that have competitive fee rates for buying Bitcoin and compiled them in this easy-to-understand table:
Sort by
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
 | 9.8 | Visitplus500.com | 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | |||||
 | 8.7 | Visitetoro.com | Don’t invest unless you’re prepared to lose all the money you invest. | |||||
 | 9.1 | Visitbinance.com | ||||||
 | 7.8 | Visitkucoin.com | ||||||
 | 8.7 | Visitcrypto.com | ||||||
 | 8.4 | Visitcoinbase.com | ||||||
 | 7.6 | Visitkraken.com |
What Fees Are There When Buying Bitcoin?
Cryptocurrency exchanges apply various fees for buying Bitcoin through their platform. All exchanges have a dedicated page that showcases the different costs of trading Bitcoin. Here are the main costs you’ll encounter:
Deposit Fee: When transferring cryptocurrency to the exchange, you’ll have to pay a transfer fee. However, the amount varies depending on the blockchain you’re using. Also, depositing fiat to your account may incur fees, which could vary by currency and payment method.
Trading Fee: When buying and selling Bitcoin, you’ll encounter a transaction fee that is usually a percentage of the trade size. The amount varies between platforms, but the cheapest options tend to be around 0.1%.
Withdrawal Fee: After buying Bitcoin, you’re most likely going to withdraw them to a cold or hot wallet. However, withdrawing coins from the exchange usually involves fees paid with Bitcoin. If you want to withdraw your fiat, this will probably incur a fee as well.
What Options Do I Have When Buying Bitcoin With Lowest Fees?
eToro
eToro is a market leader in providing stocks and cryptocurrencies. The platform has acquired 23.2 million users across the globe, and it offers zero-commission trading. Although eToro's crypto trading fee is higher than crypto exchanges (1%), the broker provides the lowest deposit fees as it doesn't charge for deposits regardless of the payment method.
Moreover, eToro hosts various coins on its platform so clients can diversify their portfolios. However, if you’re unsure which coins to buy, you can look at successful traders and copy their portfolios and trades with the innovative CopyTrader tool.
Key Features
Clients can copy successful traders with the CopyTrader feature
Invest in certain industries and themes with the Smart Portfolio feature
- User-friendly design makes eToro more accessible for beginners
- Amazing customer support
- Free deposits
- Higher trading fees compared to exchanges
- Fewer cryptocurrencies than crypto exchanges
How to Get Started?
Step 1: Sign up
Step 2: Deposit funds
Step 3: Find Bitcoin
Step 4: Buy Bitcoin
Binance
Binance is the largest cryptocurrency trading platform in the world. It offers a great selection of coins with multiple trading pairs for convenience. After purchasing Bitcoin, you can participate in staking, liquidity pools, and Binance Earn. Moreover, the fees are ultra-low at 0.1% on sell or buy orders. What's more, you can enjoy fee-free trading on major BTC trading pairs.
Moreover, Binance has several trading interfaces that are designed for different activities. Beginners can use the convert page, which makes it easier to exchange coins for Bitcoin. However, experienced investors can use the classic or advanced trading interface to purchase Bitcoin with different types of orders.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 9.1 | Visitbinance.com |
Key Features
Binance has the lowest fees for depositing, trading, and staking coins
Investors can set up 2-step authentication to add more security
- Over 300 cryptocurrencies available to purchase
- Low fees for buying Bitcoin
- Bitcoin has several trading pairs
- Slow customer support
- Binance.US fees aren't as cheap
- The several trading platforms can be confusing to use for beginners
How to Get Started?
Step 1: Create an Account
Step 2: Verify Your Account
Step 4: Select Bitcoin
Step 5: Click “Buy”
KuCoin
KuCoin was released in 2017 and has gained a lot of attraction, reaching 8 million users. Their popularity is due to the brilliant features like staking, multiple trading interfaces, and KuCoin Earn. The platform lets clients purchase Bitcoin at ultra-low fees ranging from 0.0125% to 0.1%. The fee amount depends on your 30-day trading volume. Also, if you hold the KuCoin token, the fees are reduced by 25%.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.8 | Visitkucoin.com |
Key Features
KuCoin claims 1 in 4 investors uses their platform
The platform has multiple trading pairs for Bitcoin
Clients can hold the KuCoin token to reduce fees by 25%
- Multiple investment options after buying Bitcoin
- KuCoin has exceptionally low fees
- Great selection of cryptocurrencies
- Not licensed in the United States
- High fees for withdrawing Bitcoin
How to Get Started?
Step 1: Sign Up for an Account
Step 2: Select Bitcoin
Step 3: Choose the Relevant Trading Pair
Step 4: Click ‘Buy’
Crypto.com
Crypto.com provides one of the most popular crypto apps where you can exchange cryptocurrencies for free. It also provides an exchange where you can do more advanced trading and enjoy some of the cheapest trading fees in the crypto space.
Makers and takers pay just 0.75% at the lowest trading volume, but they can enjoy significant discounts when they lock up enough CRO, which is Crypto.com's proprietary token.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.7 | Visitcrypto.com |
Key Features
Locking up CRO provides benefits including lower fees
Metal Visa cards for spending crypto
Crypto.com provides an NFT marketplace and a DeFi wallet
- Lowest trading fees on the market
- Discounts for CRO holders
- Free swaps in the app
- Crypto.com Exchange isn't available in the US
- You need a lot of CRO to access benefits
How to Get Started?
Step 1: Open an account
Step 2: Deposit funds
Step 3: Find Bitcoin
Step 4: Buy Bitcoin
Coinbase
Although making simple purchases on Coinbase can be pretty expensive, the fees are actually quite competitive when you deposit first and then purchase Bitcoin through the Advanced Trade feature. Coinbase used to provide Coinbase Pro, a separate advanced platform for low-cost trading, but now Coinbase Pro's features and fees have been integrated into the main Coinbase platform.
With Advanced Trade, you can benefit from maker and taker fees of up to 0.4% and 0.6% respectively.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.4 | Visitcoinbase.com |
Key Features
Coinbase provides staking and Learning Rewards
The platform has fiat and crypto trading pairs for Bitcoin.
Coinbase has excellent security and requires 2-step authentication for withdrawing coins.
- User-friendly interface
- Low fees for trading
- Advanced trading features
- Customer support is slow due to many users requesting assistance
- High fees for simple purchases
How to Get Started?
Step 1: Sign Up for an Account
Step 2: Transfer Money
Step 3: Choose the Relevant Trading Pair
Step 4: Click “Buy”
Kraken
Kraken is an amazing crypto exchange for those who want to use a transparent platform. In fact, Kraken recently added a feature that lets users see recent audits, making them a trustworthy location for buying Bitcoin. In addition, their security is brilliant because it uses SSL encryption, air-gapped cold storage, 2-step authentication, and precise API key permission control.
Moreover, the fees for trading Bitcoin are 0% to 0.26% depending on your 30-day trading volume. Also, you have multiple investment options after buying Bitcoin, like liquidity pools, crypto lending, and staking.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.6 | Visitkraken.com |
Key Features
Kraken is a trustworthy brand that offers full transparency
Clients can use the platform to participate in various investment opportunities
Kraken takes security seriously and has multiple layers of security
- The platform supports multiple exchange pairs for Bitcoin
- Easy-to-use interface
- Kraken is a high liquidity exchange
- Limited variety of cryptocurrencies
How to Get Started?
Step 1: Sign Up for an Account and Transfer Funds
Step 2: Go to Kraken’s Trading Interface
Step 3: Input the Amount You Want to Buy
Step 4: Click ‘Buy’
What to Consider When Choosing a Broker With Lowest Fees?
When choosing a cryptocurrency exchange, obviously the fees they charge are an important factor, but there are a few other considerations to make. Here are the main factors to consider when selecting a crypto platform.
Security: There have been many hacks and scams revolving around crypto exchanges. Therefore, you should use crypto exchanges with an excellent track record of delivering a safe experience for clients. The platform should let clients enable 2-step authentication and whitelist crypto addresses.
Easy-to-use: The process of buying Bitcoin should be convenient for beginners and experts. The platform must have quick processes to acquire Bitcoin that avoid complicated interfaces.
Tools and Indicators: If you’re a technical trader, you’ll want to have a set of tools in your arsenal. The popular crypto exchanges have low fees and a great combination of analyzing tools.
Interface: The trading interface should be simple while providing sufficient information. Some interfaces have complicated buying processes, making it frustrating to invest in Bitcoin.
Investment Opportunities: After acquiring Bitcoin and using a long-term strategy, you might want to participate in various investment opportunities. Therefore, you might want a crypto exchange that provides staking, liquidity pools, and other options.
Easy Withdrawals: Some exchanges have strict withdrawal limits, making it challenging to transfer your Bitcoin. Often you’ll need to complete a KYC process to lift withdrawal restrictions.
Trading Pairs: Multiple trading pairs make it convenient to purchase Bitcoin if you hold various coins. The most popular exchange pairs for Bitcoin are Bitcoin/ETH, Bitcoin/USDT, Bitcoin/USDC, Bitcoin/ADA, and Bitcoin/XRP.
How to Buy Bitcoin With Low Fees?
The buying process for Bitcoin is similar on all crypto platforms. Here’s an outline of how to buy Bitcoin using a popular exchange.
Step 1: Click the Register Button
Step 2: Create an Account
Step 3: Click the Verification Email Sent to You
Step 4: Deposit Fiat Currency or Crypto
Step 5: Choose a Bitcoin Exchange Pair
Step 6: Enter the Amount You want to Purchase
Step 7: Click ‘Buy’
Alternative Ways to Invest in Bitcoin?
Bitcoin ATMs: Bitcoin ATMs are great machines for buying coins anonymously. They work similarly to bank ATMs but provide options for buying various cryptocurrencies instead. However, the fees for using Bitcoin ATMs are much higher than other options.
Decentralized Exchanges: Decentralized exchanges (DEXs) let investors buy large quantities of crypto anonymously. They require connecting a compatible crypto wallet, making this option for more tech-savvy users. However, you should bear in mind that you'll need to WBTC as BTC isn't native to blockchains that host popular DEXs. You'll also need to acquire some crypto to swap for it, and the gas fees can be high on some blockchains.
Cash-in-hand: Investors can use platforms that connect buyers and sellers to each other. These P2P exchanges may facilitate transfers between clients in real life. However, this option is riskier due to the potential of being scammed. Therefore, you should wait with the seller until the transfer is complete.
Cryptocurrency Brokers: Brokers are brilliant for beginners, thanks to their user-friendly design. These platforms offer various cryptocurrencies, including Bitcoin. However, you’ll be buying a derivative product and won’t own real coins. Crypto brokers can offer CFDs, futures, and ETFs to deliver numerous investment opportunities for clients.
Final Thoughts
Looking for low fees is important if you want to get more bang for your buck when buying Bitcoin. We’ve mentioned the best platforms that offer excellent fee rates, investment options, and trading tools. However, you should select a crypto exchange that offers all the features you require for investing.
Beginners may find an exchange like Binance easier to use because it has educational resources, several trading platforms, and a user-friendly design. Moreover, expert traders may find KuCoin the best option since it has advanced trading tools. Also, clients can reduce their trading fees by 25% if they hold KuCoin’s native token KCS.
Furthermore, you can use a broker like eToro to invest in Bitcoin with no deposit fees and without encountering complicated trading interfaces. Therefore, you should go over the many available options and select the platform that fits your needs.
Visit eToro to get started
