There is no such thing as 0 fees. They’re scamming you.
Don't fall for exchanges advertising 0 fees. They're fucking you over in the following ways:
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By quoting you a worse price than the actual market price of a particular coin at the moment.
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By siphoning some of your money in the name of spread or price slippage.
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By not providing you with a crypto wallet. So you can't send your crypto to a private wallet or another exchange. Your coins are stuck. The only way out of the exchange is to sell, incur the hidden fees and capital gains tax.
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High deposit and withdrawal fees, even with a bank transfer.
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By selling your data.
It's worth it to take some time to look up fee structure of an exchange, read the FAQs and reviews before making a sizeable purchase on an exchange. Those 0 fees end up costing you 1-2% in hidden fees or even more. While an exchange that is transparent about their fees only charges a fraction of that (0.1-0.2%).
Avoid any exchange that advertises 0 fees or only gives you option for market order and not limit order. As a consumer you should be looking for more options at your disposal, more transparency and more control, not less.
submitted by /u/damittydam
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