DEXs, MinSwap and MuesliSwap, currently have $30 million and $6.5 million worth of liquidity locked in them respectively On Thursday, COTI Network, the issuer of the Cardano-backed stablecoin Djed announced its upcoming listing on major DEXs MinSwap and Muesliswap. COTI also added that Shen, its reserve coin, would be on that listing. MuesliSwap to List DJED and SHEN On Thursday afternoon, COTI retweeted the MuesliSwap announcement that revealed the exchange’s plan to list $Djed and $Shen in the coming…
What are Crypto Trading Fees?
Crypto trading fees refer to the costs incurred by a trader when they buy or sell cryptocurrencies on a digital asset exchange. These fees are typically paid in the cryptocurrency being traded. They are used to compensate the exchange for the services it provides, such as facilitating trades and maintaining the platform.
There are typically two fees associated with trading cryptocurrencies: maker and taker fees.
- Maker fees are paid by traders who add liquidity to the market by placing limited orders on the order book. These orders are not immediately filled and remain on the order book until they are matched with a buyer or seller.
- Taker fees are paid by traders who remove liquidity from the market by placing market orders or filling limit orders already on the order book. These orders are immediately filled and executed at the best price.
The fees can vary from platform to platform. Some have different fees for different currencies traded or deposit/withdrawal methods. Typically the maker fee is lower than the taker fee as an incentive for traders to place limited orders and add liquidity to the market.
Popular Exchanges by Trading Fees
The trading fees on cryptocurrency exchanges can vary widely, and the exchange with the smallest trading fees can change over time. That being said, some exchanges are known for having lower fees than others.
One example of an exchange with relatively low trading fees is Binance. Binance charges a flat 0.1% trading fee for both maker and taker trades. Additionally, if you hold their native token called Binance Coin (BNB) and choose to use that to pay your trading fees, you can get a 25% discount, reducing the trading fees to 0.075%.
Another example is BitMEX exchange, they are known for having low trading fees and no deposit or withdrawal fees, but they have a somewhat complex fee structure.
Another example is Bitfinex; they have a tiered trading fee structure based on the 30-day trading volume, which can result in very low fees for high-volume traders.
These are just examples, and you should always compare the fees on multiple exchanges before choosing one to trade on. Before choosing an exchange, consider other factors, such as trading pairs, trading volume, security, and customer support.