What are some strategies for trading cryptocurrencies without incurring fees?

7 answers

• May 08, 2022 · 3 years ago
  One strategy to trade cryptocurrencies without incurring fees is to use decentralized exchanges (DEXs) such as Uniswap or SushiSwap. These platforms allow you to trade directly from your wallet without the need for intermediaries, which eliminates the fees associated with centralized exchanges. However, keep in mind that DEXs may have lower liquidity and limited trading pairs compared to centralized exchanges.
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• May 08, 2022 · 3 years ago
  Another strategy is to take advantage of fee-free promotions offered by certain exchanges. Some exchanges periodically offer zero-fee trading for a limited time or for specific trading pairs. Keep an eye out for these promotions and take advantage of them to save on trading fees.
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• May 08, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a unique strategy for trading cryptocurrencies without incurring fees. They have a native token called BYD that can be used to pay for trading fees. By holding a certain amount of BYD tokens, users can enjoy fee discounts or even trade without paying any fees. This can be a cost-effective option for frequent traders.
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• May 08, 2022 · 3 years ago
  If you're looking to avoid fees altogether, peer-to-peer (P2P) trading can be a viable option. Platforms like LocalBitcoins or Paxful connect buyers and sellers directly, allowing you to negotiate the terms and trade without any fees. However, be cautious and ensure you're dealing with reputable traders to minimize the risk of scams.
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• May 08, 2022 · 3 years ago
  One more strategy is to utilize limit orders instead of market orders. By placing limit orders, you can specify the price at which you want to buy or sell a cryptocurrency. This way, you can avoid paying excessive fees that are often associated with market orders. However, keep in mind that limit orders may not always be executed immediately, as they are subject to market conditions and price fluctuations.
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• May 08, 2022 · 3 years ago
  A popular strategy for trading cryptocurrencies without fees is to engage in arbitrage. This involves taking advantage of price differences between different exchanges or trading pairs. By buying low on one exchange and selling high on another, you can profit from the price discrepancy while avoiding fees. However, arbitrage opportunities may be limited and require quick execution to be profitable.
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• May 08, 2022 · 3 years ago
  Some exchanges offer fee discounts based on your trading volume or by holding their native tokens. By actively trading and increasing your trading volume, you can qualify for lower fees. Additionally, holding a certain amount of a platform's native token may provide fee discounts or other benefits. Check the fee structure and loyalty programs of different exchanges to find opportunities for reduced fees.
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