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Top 7 Crypto Exchanges With the Lowest Spreads in 2024

10 mins
Fact Checked
by Maria Petrova
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In the world of crypto trading, finding a reliable exchange with low spreads can be the key to maximizing your profits. In this guide, we highlight the cryptocurrency exchanges that provide the best opportunities for low-spread trading, ensuring you make the most of market volatility. Here are our top choices in 2024.

What are spreads in crypto trading?

Spreads are a fundamental concept in cryptocurrency trading. They represent the difference between the buying price (the “bid”) and the selling price (the “ask”) of a particular cryptocurrency. 

In practical terms, the bid price represents the maximum price a buyer is willing to pay for a coin, while the asking price is the minimum price at which a seller is willing to part with their cryptocurrency. 

When you execute a trade on a cryptocurrency exchange, you pay a fee based on the spread. This fee is typically a percentage of the spread, and it’s charged on both the buy and sell sides of the trade. The exchange keeps this fee as revenue. The wider the spread, the more fees you will pay for a given trade.

Did you know? A pip is the smallest whole unit measurement of the difference between the bid and ask spread. A pip equals 1/100 of 1%, or .0001.

Top crypto exchange with the lowest spreads

FXGT.com

Best overall
Spreads
0, 5, or 10 points
Demo account
Yes
Markets
1,000+

Coinbase

Best for newbies
Spreads
As low as 0.5%
Demo account
No
Markets
399

Paybis

Best for customer support
Demo account
No
Markets
60+

YouHodler

Best for crypto loans
Demo account
Yes
Markets
50+

Kraken

Best for experienced traders
Spreads
As low as one pip
Demo account
Yes
Markets
4,000+

OKX

Best for low overall fees
Demo account
Yes
Markets
350+

BYDFi

Best for frequent traders
Demo account
Yes
Markets
450+

How to choose the right crypto exchange with low spreads

Selecting a crypto exchange with low spreads is a critical decision that can significantly impact your trading strategy and profitability. Before deciding which platform is the best choice for you, there are some key factors to consider.

1. Assess your trading experience

We’ve listed platforms that cater to both beginners and experienced traders. That said, your level of trading experience can help you select the right exchange. If you’re a seasoned trader comfortable with advanced tools and features, exchanges like FXGT.com and Kraken, which cater to experienced traders, might be your best bet. On the other hand, newcomers may find user-friendly platforms like Coinbase or Paybis more suitable.

2. Consider your geographic location

The availability of certain exchanges can vary based on your geographic location. For instance, some platforms, like FXGT.com and YouHodler, have broader global coverage, while others may have restrictions in specific countries or states. It’s essential to ensure that your chosen exchange operates in your region.

3. Evaluate fee structures

While low spreads are a priority, it’s crucial to understand the complete fee structure of an exchange. Some platforms may charge additional fees, such as withdrawal fees, conversion fees, or maker-taker fees. Be aware of these costs to calculate your overall trading expenses accurately. In addition, some platforms might be less transparent around fees. For instance, if a platform advertises zero-fee trading, remember that they may charge a spread instead.

4. Analyze security measures

The safety of your funds and personal information is paramount. Look for platforms that implement rigorous security measures, such as two-factor authentication, encryption, and cold storage of funds.

5. Consider your trading goals

Your trading goals should align with the features and offerings of the exchange you select. For the lowest and most competitive spreads and all-around performance, FXGT.com takes the cake. If you’re interested in crypto loans and earning interest on your holdings, a platform like YouHodler may be the right choice. Conversely, if you’re focused on frequent trading and leveraging your positions, BYDFi could be more suitable.

Small spreads equal low trading costs

Each featured platform offers unique platform advantages, ensuring this list caters to a diverse range of traders. By weighing factors including trading experience, fee structure, and trading goals, you can confidently select an exchange or platform that aligns with your strategy and empowers you to harness the benefits of low spreads. While low spreads can ultimately help you succeed in the dynamic cryptocurrency market,

Frequently asked questions

Which crypto exchange has the smallest spread?

Which crypto exchange has the most liquidity?

What is spread in crypto?

What does a high spread mean in crypto?

How do I calculate trading spreads?

Top crypto platforms in the US | February 2024

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Camila Santiago
Camila Santiago is polyglot content writer and marketer. With four years of writing expertise and a six-year foundation in marketing and business, she has curated content across health, fintech and crypto verticals. Graduating from Universidade Federal Rural do Rio de Janeiro with a degree in Business Administration and Economics, and a Cambridge Certificate in Advanced English from the University of Cambridge, Camila's career journey took her through the corridors of big players like...
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