The worst thing about buying cryptocurrency are the fees. As it’s still a new asset class, there isn’t enough competition to really drive down the fees. But that is starting to change. And it is possible to buy into crypto and skip the big fees.
In this post I’m going to share with you what I think is the best way to buy cryptocurrency without any fees and some other lower fee alternatives too.
Coinbundle – Fee free investing
Coinbundle is a relatively new service that bundles a number of cryptos into themed investments and lets you invest in them like a fund.
The advantage of using Coinbundle is you don’t need to worry about putting a portfolio together yourself, or worrying about wallets and storage. Coinbundle takes care of all of this for you.
But the best bit about Coinbundle is there are no fees! This means you can invest in Bitcoin, Ethereum and other coins without having to paying any fees every time you buy and sell. Over the life of your investment this could make a huge difference. Coinbundle is obviously offering without fees to grow there users. They are a YCombinator company (a prestigious early stage investment fund) so they are also backed by real people not just a faceless company.
Investing in Coinbundle is fairly quick. After signing up you will need to verify your account. This process takes just a few minutes and if you’ve signed up with any crypto exchange before, you’ll be familiar with how it works.
Currently Coinbundle only accepts credit card deposits. Hopefully they’ll add more deposit options in the future. However paying by credit card is super quick and easy allowing you to instantly invest. No need to wait for funds to clear.
Overall I think Coinbundle is an excellent option for buying into crypto without having to pay any fees. I really like the idea and think this will definitely appeal to the mainstream and bring more people into the space.
Tip – Get $5 free on Coinbundle
Everyone loves free Crypto. To get $5 free, just sign up through this link and when you make your first investment you’ll get a bonus $5.
On eToro when you trade Crypto, you don’t pay commissions instead there is a spread. This is the difference in price between the bid and ask prices. Spreads are really common on forex and stock trading platforms. And as eToro is one of those platforms, it makes sense there is also a spread on Crypto.
So this is another option, a spread is technically not a fee and some traders could really use this to their advantage. On eToro you can trade a number of popular cryptos like Bitcoin, Ethereum, Litecoin, Ripple and more.
On Binance if you hold the exchange token – BNB (Binance Coin) you’ll be able to trade with reduced fees. All you have to do is buy some BNB and hold it in your account. For many traders, you’d be insane not to do this as you save so much on fees. For smaller traders, you probably won’t notice that much of a difference.
BNB has been one of the stand out coins in 2019. So not only would you have benefited from reduced fees but you’d have made a handy profit just by holding onto the coin. So if you do trade on Binance or are looking to in the future, I’d recommend holding some BNB in your account.
Kucoin is much like Binance. They have a token called Kucoin Shares or KCS. Holding the token in your account will give you reduced trading fees on Kucoin. The other benefit of holding the token are profit dividends. Everyday Kucoin divvies up some of the trading fee profits and distributes them to token holders. This is a great way to earn interest on your cryptocurrency and reduce your fees at the same time. You can find out more about Kucoin here.