What are some ways to save on trading fees when buying or selling cryptocurrencies online?

3 answers

• Dec 15, 2021 · 3 years ago
  One way to save on trading fees when buying or selling cryptocurrencies online is to use a cryptocurrency exchange that offers discounted fees for high-volume traders. These exchanges often have tiered fee structures, where the more you trade, the lower your fees become. By reaching higher trading volumes, you can benefit from reduced fees and save money in the long run. Additionally, some exchanges offer fee discounts for using their native tokens to pay for trading fees. By holding and using these tokens, you can further reduce your trading costs. Remember to do your research and compare different exchanges to find the best fee structure for your trading needs.
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• Dec 15, 2021 · 3 years ago
  Another way to save on trading fees is to take advantage of maker fees. Maker fees are typically lower than taker fees and are charged when you add liquidity to the order book by placing limit orders. By placing limit orders instead of market orders, you can potentially save on fees. However, keep in mind that limit orders may not always be executed immediately and there is a risk of your order not being filled if the market moves away from your desired price. It's important to find the right balance between saving on fees and ensuring timely execution of your trades.
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• Dec 15, 2021 · 3 years ago
  At BYDFi, we understand the importance of minimizing trading fees for our users. That's why we offer a fee structure that is designed to be competitive and cost-effective. Our platform provides discounted fees for high-volume traders and offers fee discounts for using our native token, BYD, to pay for trading fees. We also have a referral program that allows users to earn commission on the trading fees of their referred users. By joining BYDFi, you can take advantage of these cost-saving features and optimize your trading experience.
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