Exchange fees explained with math! This video will help explain how exchange fees work and will go over the various fees you can expect when trading cryptocurrency. I recently did a video explaining how bad the Voyager APP was but didn’t explain the math and that wasn’t convincing enough.
Voyager markets itself as “commission-free” but that’s cause their hidden fees are insanely high. In some cases 30 times higher than Binance. So I’m taking another shot to show you how bad exchange fees can be.
00:00 Exchange Fees Explain
05:13 Fee Comparison
06:43 Exchange Spreads with Voyager
08:20 Account funding strategy
09:37 Broken orders on Voyager
11:55 Losing money in fees
For US users, there’s Binance.US and it requires verification which can take some time.
If you already have crypto, Kucoin will allow you to trade with just a phone number. They don’t allow US users, but you can fly under the radar if you’re trading less than $2k a day.
If you’d like to use my referral link, I’d appreciate it:
Binance US: https://accounts.binance.us/en/register?ref=53274651
Binance: https://www.binance.com/en/register?ref=UHTRKOEW (10% off trades)
Exchange fee calculator: https://www.dropbox.com/s/3qq3k8j3cqtnjka/Exchange-spread-calculator.xlsx?dl=0
You can download the file without signing up for dropbox.