Analysis of trading fees across cryptocurrency exchanges

Quick Take

  • HitBTC, Binance, and KuCoin are the cheapest exchanges for retail traders
  • For institutional customers, bitFlyer (Japan/U.S.) and HitBTC seem to be the cheapest exchanges depending on volume
  • Gemini and Bitstamp are consistently the most expensive exchanges
The majority of cryptocurrency exchanges’ revenues comes from trading fees. As the market continues to be quite saturated, exchanges fiercely compete to capture the largest market share. If only the exchanges vetted by Bitwise are considered, Binance leads the pack with 56.8% of market share; followed by Coinbase (12.4%), Bitfinex (8.6%), Kraken (8.5%) and Bitstamp […]

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