The Block analyst Larry Cermak analyzed commissions on various cryptocurrency exchanges and found that the platforms Binance US, FTX, OKCoin and Poloniex provide the best conditions.
These exchanges charge the lowest trading commissions. Usually, the Commission of the maker (the trader placing the order) is lower, since it adds liquidity to the exchange. Takers, on the contrary, pay large commissions, as they take liquidity from the site.
In the report, Cermak said that he analyzed commissions for makers and takers on 20 leading cryptocurrency exchanges. The FTX platform turned out to be the most profitable for retail traders, but Binance US and OKCoin are more suitable for institutional players.
The highest fees are charged by coinbase, bitFlyer EU, Bitstamp and Gemini exchanges. At the same time, if the first sites take large commissions from transactions of any volume, the Gemini exchange, owned by the Winklevoss brothers, is quite profitable for institutional traders.
As for the largest cryptocurrency exchange Binance, its commissions have always been considered low, but recently the platform takes noticeable commissions from large-volume transactions. However, for retail traders, who are the main clients of the exchange, they remain small.
Earlier, Cermak reported that in December 2019, the volume of trading on non-custodial exchanges reached the lowest level since February 2019.