What are some ways to reduce trade fees when buying cryptocurrencies?

3 answers

• May 08, 2022 · 3 years ago
  One way to reduce trade fees when buying cryptocurrencies is to use a decentralized exchange (DEX) instead of a centralized exchange. DEXs typically have lower fees because they eliminate the need for intermediaries and allow users to trade directly with each other. Additionally, some DEXs offer fee discounts or rewards for using their native tokens. However, it's important to note that DEXs may have lower liquidity and fewer trading pairs compared to centralized exchanges.
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• May 08, 2022 · 3 years ago
  Another way to reduce trade fees is to take advantage of trading fee discounts offered by exchanges. Many exchanges have tiered fee structures where the fees decrease as your trading volume increases. By increasing your trading volume, you can qualify for lower fees. Some exchanges also offer fee discounts for using their native tokens or for holding a certain amount of tokens in your account.
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• May 08, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a unique way to reduce trade fees. They have a fee-sharing program where users can earn a portion of the fees generated by the exchange. The more BYDFi tokens you hold, the higher your fee-sharing percentage. This can be a great way to offset trade fees and even earn passive income.
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