Crypto exchange fees explained
The fee an exchange advertises is rarely the whole cost of buying crypto. Depending on how you pay, how you buy and whether you move coins out, you may pay three or four separate costs, and one of them is often not called a fee at all. This guide explains each one and adds them up in a worked example.
What you'll learn
- The difference between maker and taker fees
- What the spread is and why it costs you money even when no fee is shown
- How deposit and withdrawal fees work, including network fees
- How volume tiers and promotions change the rate you pay
- How to estimate the total cost of a purchase, step by step
The four costs to look for
When you buy crypto on an exchange, the cost can come from four places:
- Deposit fee for putting money in.
- Trading fee for the purchase itself.
- Spread, the gap between buying and selling prices.
- Withdrawal fee if you move the coins (or money) out.
Not every purchase involves all four, and some may be zero. But comparing exchanges on the trading fee alone can be misleading.
Trading fees: maker and taker
Exchanges that run an order book, a live list of orders to buy and sell, often charge two different rates.
- Taker fee. You pay this when your order is filled straight away against an order that is already on the book. A market order ("buy now at the best available price") is a taker order.
- Maker fee. You pay this when your order is added to the book and waits for someone else to fill it. That's usually a limit order set at a price that isn't available yet. It "makes" liquidity for others.
On many fee schedules the maker rate is lower than the taker rate, because the exchange wants orders waiting on the book. A limit order is not automatically a maker order: if your limit price matches an existing order immediately, it fills as a taker. And a maker order may not fill at all if the price never reaches it.
Illustrative example, made-up rate.
Trading fees are usually a percentage of the trade's value. A 0.6% taker fee on a 1,000 purchase is 6.00.
Instant buy and order-book prices
Many exchanges offer two ways to buy:
- A simple "buy" button (often called instant buy, or used for recurring buys), where you enter an amount and get a quoted price.
- An advanced or "pro" trading screen with an order book and maker/taker fees.
The simple option is easier, but it's often priced differently. It may have a higher percentage fee, a fixed fee on small amounts, a wider spread, or a mix of these. Check the exchange's fee page for the method you'll actually use. The fee comparison shows maker, taker and instant-buy rates side by side where the exchange publishes them.
The spread: the cost you don't see
At any moment there is a highest price someone will pay (the bid) and a lowest price someone will sell at (the ask). The difference is the spread. The point halfway between them is often called the mid-market price.
When you buy at the ask and could only sell at the bid, you are already slightly behind before any fee. On a simple "buy" screen, the quoted price may also include a markup over the market price, and that is part of the spread too.
The spread is usually not listed as a fee, and it changes all the time. It tends to be wider for less-traded assets and during fast-moving markets. To see it, compare the buy and sell prices shown for the same asset at the same moment.
Deposit fees
Putting money in can be free or can cost a fee, depending on the method and currency:
- Bank transfers are often cheaper than cards, but slower.
- Card payments are quick but can carry a percentage fee.
- Other methods, such as payment apps or local transfer systems, have their own pricing.
Exchanges often publish deposit fees per method rather than as one figure. Some exchange fee pages say only that fees "vary by method and currency". In that case the fee comparison says so instead of guessing a number.
Withdrawal fees
Crypto withdrawals usually cost a fee each time you send coins out, for example to a wallet you control. Two things are worth knowing:
- The fee is often charged in the coin itself, as a fixed amount (such as a small fraction of a coin), not as a percentage. That makes it relatively expensive on small withdrawals.
- It may be fixed or change with network conditions. Part of it covers the network fee paid to the blockchain. Many exchanges show the exact fee on the withdrawal screen before you confirm, so check it there.
Fiat withdrawals, moving money back to your bank, can also carry a fee that depends on the method and currency.
Tiers, promotions and other details
- Volume tiers. Many exchanges lower their trading fees as your trading volume over a set period (often 30 days) rises. A beginner will almost always be on the base tier. That's why our fee comparison shows base-tier figures and states the tier.
- Promotions. "Zero fee" offers may apply only to certain pairs, amounts or periods, and the spread still applies.
- Region and account type. The same exchange can price differently by country or product. Our fee comparison notes which country an exchange's fee page was read from.
- Currency conversion. Paying in a currency other than the one the exchange quotes in can add a conversion cost from your bank or card provider.
Worked example: the total cost of one purchase
Illustrative example. Every rate below is made up for this example and does not describe any real exchange.
You put 1,000 in by bank transfer, buy one asset, and later withdraw the coins to your own wallet. The exchange in this example charges:
- Bank deposit: free
- Simple "buy" button: 1.5% fee, with a quoted price about 0.5% above the mid-market price
- Order-book trading: 0.6% taker fee, with a spread of about 0.05% on this asset
- Crypto withdrawal: a fixed amount of the coin worth about 5.00 at the time
| Cost | Route A: "Buy" button | Route B: order book (taker) |
|---|---|---|
| Deposit | 0.00 | 0.00 |
| Trading fee | 15.00 (1.5% of 1,000) | 6.00 (0.6% of 1,000) |
| Spread (approx.) | 4.93 (0.5% of the 985 left) | 0.50 (0.05% of the 994 left) |
| Withdrawal | 5.00 | 5.00 |
| Total | ≈ 24.93 (about 2.5%) | ≈ 11.50 (about 1.15%) |
What changes the picture:
- Paying by card. If the card deposit carried a 2% fee, both routes would cost about 20.00 more.
- Placing a maker order. If Route B used a limit order that waited on the book at a made-up 0.4% maker fee, the trading fee would drop to 4.00. The order might take time to fill, or not fill at all.
- Buying a smaller amount. On a 100 purchase, the same fixed 5.00 withdrawal fee alone would be 5% of the money put in.
- Not withdrawing. If you leave the coins on the exchange, there is no withdrawal fee, but the exchange then holds them for you. See the security section of How to choose an exchange.
The point of the example isn't the exact numbers. It's the method: write down each cost for how you will deposit, buy and withdraw, then add them up. If you buy small amounts on a schedule, see how fees add up on small recurring buys. Use each exchange's stated rates from the fee comparison and the exchange's own fee page.
Common mistakes
- Comparing only the trading fee. Deposit method, spread and withdrawal can cost more than the trading fee.
- Assuming the simple "buy" button costs the same as the trading screen. It often doesn't.
- Forgetting the spread. No listed fee does not mean no cost.
- Ignoring fixed fees on small amounts. A fixed withdrawal fee or a minimum fee hits small purchases hardest.
- Comparing different tiers. Make sure the figures you compare assume the same tier, usually the base tier for a new account.
- Relying on old figures. Fee schedules change. Check the date on any figure and the exchange's own fee page before you trade.