If you are a daily investor or trader in cryptocurrency, then you are aware of the trading fees which are charged by most exchange platforms. The exchange fees of every platform is different from the other and therefore some may seem to charge higher than the others. However, too much of exchange fees drastically reduces the amount of profit that you could have pocketed otherwise. One of such fees that is charged is the Spread. This is the difference present between the lowest ask price and the highest bid price available on the exchange.
Even more because the platform does not tells you the sum or percentage levied. Immediate Edge is a brilliant cryptocurrency exchange platform which allows you to get amazing features while trading without charging too much of exchange fees. A lot of cryptocurrency exchange platforms charge huge fees on the Spread and that is why many people get frustrated by the high charges. But there’s a brand new cryptocurrency widget which reveals how much an exchange charges you.
Binance has one of the most entry-level taker fees that is around 0.10% and also the BTC/USDT exchange fees is quite low as well at 0.22%. Therefore, the total cost of using Binance is about 0.32% for every trade you make. Other platforms like Kraken and CEX.io are even worse because an user can expect to lose about 0.36% – 0.41% every time they trade on their platform. For instance, you will lose around $41 for every $10,000 you trade. Thus, it is a really hefty fee that you are required to pay and you won’t even know about it. Even though you will think that 0.41% is not a great deal, but in the long run you tend to lose out on a lot of money by trading in the market regularly. These particular fees are also quickly racked up for the high-frequency traders, in whose case the traders see a huge chunk of profits lost.
Exchanges that charge fees under 0.30%
However, you don’t need to worry about the figures yet because there are some amazing cryptocurrency trading exchanges that charge their customers less than 0.30% of commission. The Poloniex charges somewhere around 0.29% and on the other hand, the XCOEX and StormGain platforms charge some of the lowest charges in the market at 0.15% and 0.8% respectively. Hence, it becomes much more affordable and manageable for the users to earn more profit on every trade they make regularly. All of these exchange platforms are quite popular and have their name in the industry.
Using the widget – how is it helpful?
The cryptocurrency widget comes to play when you are failing to decide which exchange platform is charging you how much of fees. But with the new cryptocurrency widget, you will be very easily able to get to know about the exchange. The widget shows you the live trading costs and the hidden charges that are associated to each and every trade.
This brand new cryptocurrency tracks six popular exchange platforms in the market –
All these exchange platforms are really popular and have a huge followers base which makes them even more appealing to the traders. Over the course of time, an increasing number of the exchange platforms, filters, and variety of options are added which helps the users to bring and provide an increased transparency to several more of cryptocurrency exchanges.
Final Words – the cryptocurrency widget will surely help you get hold of the best exchange platform all the time whenever you want to trade. Thus allowing you to fetch more profits and earn more money in every trade you do regularly. Platform like Immediate Edge can be a great alternative to those who want to enjoy a sophisticated trading experience without losing too much money on the Spread charges.