What’s the catch? 5 crypto exchanges with 0% fees

Recently, we’ve published the list of perks you can get from crypto exchanges. Zero fees are among the most attractive ones. But if you don’t pay, how does the crypto exchange earn?

We at buidlbee have found the answers to this question and are ready to share this with you. Let’s tell you right away that it all seems quite legit 🙂

Phemex

Phemex is a Singapore-based crypto exchange founded in 2019. It has more than 5 million users.

Zero trading fees on Phemex are available for those who have Premium Membership. But since 2021, these conditions are applied only for trading volumes up to $1 million per day and $5 million per month.

You can buy Premium Membership for 9,99 USDT per month or 5,8325 USDT per month (if you purchase an annual subscription). Any person with a Premium Membership can gift any other user with a subscription for 30 days for free. Apart from that, new users can try Premium for the first seven days. Phemex also offers Premium Membership for a month as a gift for completing these three tasks:

1. A new user will register on the platform with your referral link
2. You have more than 0,02 BTC on your account
3. You have traded more than $1000 for BTC–USD contracts

KuCoin

KuCoin is a Singapore-based crypto exchange founded in 2017. In July 2022, it crossed the 20 million user mark.

The exchange regularly offers zero fees as a part of promotions. For example, in March 2022, you could have bought crypto with a credit card and no commission if you used the Banxa system for that. KuCoin sometimes offers 0% fees for one day or a specific coin. 

To monitor such news, it’s better to subscribe to KuCoin emails or follow it on Twitter.

Crypto.com

Crypto.com is a Singapore-based crypto-exchange founded in 2016. In May 2022, it had more than 50 million users.

The platform has two offers with zero fees:

1. Since January 2021, all new users of the Crypto.com app can make crypto purchases with a credit/debit card and without any commission. This offer lasts for the first month after registration.
2. Since October 2021, you can trade USD stablecoins (USDT, BUSD, etc.) without fees.

Lykke

Lykke is a Swiss-based crypto exchange launched in 2013. The number of the platform’s users is unknown, though the system seems really attractive since it is yet another 0% fee exchange. This is not a temporary situation or a special offer but the company’s policy.

So, what’s the catch?

Lykke doesn’t have trading fees, but it has withdrawal fees. Also, its business model is based on earning on consulting, so Lykke as an exchange is not the main income for founders. But what’s more important, users write in reviews that the platform doesn’t allow them to earn on trading and offers not so many cryptocurrencies.

Amplify

Amplify is an Ireland-based crypto exchange founded in 2019. Just like with Lykke, it is unknown how many people use this platform, but it is known that the platform offers a zero fees policy, too.

Instead of trading fees, Amplify takes commissions for transactions and withdrawals. The exchange also has its native coin AMPX, which you can use to pay transaction fees. By doing that, you will receive a 50% discount.