During this decade, Bitcoin (BTC) went from an unknown asset to one of the most popular ones ever. This happened because Bitcoin is one of the most innovative investments that you can make. Not only it’s decentralized, but it has some of the lowest fees in the market.
How to buy Bitcoin without fees? The key to paying the lowest fees in a Bitcoin exchange is to research well for the companies that have an honest approach with clients. Some companies charge an abusive rate and effectively act as a middleman that may get profits off your trades. These are the ones that you should ignore.
Fortunately, most crypto exchanges do not necessarily follow this path. They support the decentralized nature of cryptocurrencies and don’t want to profit unfairly from their clients. If you want to buy Bitcoin without fee, find a Bitcoin exchange with the lowest fees.
Bitcoin Exchange With Lowest Fees
The first step when you look for a Bitcoin exchange with lowest fees is to decide whether you want to deal with a centralized or decentralized exchange. In both cases, you can find several companies offering excellent fees.
Either case has its advantages that may go beyond the lowest fees Bitcoin exchange. Now, let’s compare the two cases.
Centralized Lowest Fee Bitcoin Exchange
Centralized crypto exchanges generally let people buy Bitcoin using fiat currency (national currencies). Some of them have the Bitcoin exchange lowest fees, but they are usually more expensive to use than decentralized alternatives unless you do your research very well.
So, what is the main advantage of using a centralized exchange like Coinbase, Kraken, or eToro? You can acquire Bitcoin without using any other cryptocurrency. Also, most of these companies are licensed. They are acknowledged by the regulators and have measures to protect clients.
The main benefit is that you get security and trust. The platforms are generally very easy to use. So, there’s no need to worry about that. Fortunately, you can find a Bitcoin exchange with the lowest fees if you look well.
Decentralized Lowest Fee Bitcoin Exchange
Can you get the lowest fee in a Bitcoin exchange if you cut the middlemen? Possibly, yes, and that’s why decentralized exchanges exist.
Imagine a crypto exchange that, unlike these highly regulated centralized exchanges, just lets people trade in a peer to peer (P2P) environment. Even mostly centralized companies such as Binance have started their own options such as Binance DEX.
The drawback of this option is that you already need at least some other crypto to buy Bitcoin. Yes, it has the lowest fees, but it would be stretch to say that this option is great for beginners.
Bitcoin Wallets Without Fees
Unfortunately, finding the Bitcoin exchanges with the lowest fees is not enough. If you want to buy Bitcoin with the lowest fees, you may also need to find the perfect wallet. It means that a low fee Bitcoin exchange needs to be complemented with a wallet to be more effective.
Most Bitcoin wallets have fees for each transaction. Sometimes, they are big, while at other times they are small. Some examples of great wallets are BlockChain Wallet, Bitcoin Core wallet, Wirex, BitGo, and others. By using a Bitcoin wallet without fees, it will not be hard to find the lowest fees to buy Bitcoin.
Obviously, transaction fees cannot be completely eliminated. Even if you find the lowest Bitcoin fees, you will still have to pay the miners. They are the people who solve complex equations using their computing power to secure transactions.
When the network is very clogged, you may find it harder to get the lowest fees to buy Bitcoin. Because of this, avoiding transactions when the prices are higher is also a good call.
The Combination that will let you Buy Bitcoin Lowest Fees
If you want to buy Bitcoin with no fees, the secret is to combine a great wallet and a trustworthy exchange. While it may not seem like much at first, you should know that fees can have a massive difference in your profits.
Especially when you are a trader, and you’re trying to sell BTC when it’s high and buy when it’s low, you should notice that if you buy Bitcoin no fees, you will profit a lot more. Being prepared is the secret to being a successful trader.