Cryptocurrency Exchange Fees Explained: What Happens During a Crypto Swap?

How Do Swaps Work?

  • The network fees when sending funds to the site’s deposit address. This includes the mining fees to incorporate your transaction in a block or the withdrawal fees if you send coins from a 3rd-party exchange.
  • The network fees that liquidity providers charge for transferring coins to them.
  • The crypto trading fees liquidity providers charge to swap one asset for another one.
  • The network fees that are required to send the assets back to you from the 3rd-party service providers.

Deposit Fees

3rd-Party Network Fees

3rd-Party Crypto Trading Fees

  • How big the transaction is.
  • How frequently you trade.
  • If you are creating maker or taker orders.
  • If you place a sell order for 1 Bitcoin at $63.000 when the asset’s value is $62.000, you are creating a market and adding liquidity to it. Your order won’t be filled until Bitcoin’s price increases, and at that time, you will pay maker fees.
  • Contrary to that, if your sell order is at $62.000, it will be filled straight away, and you will remove liquidity from the exchange. Because of that, you have to pay taker fees.

Bottom Line

Things To Remember:

  • ChangeNOW guarantees fair exchange rates, fast transactions, and a service that respects your need for privacy.
  • Fees are an essential component of cryptocurrency transactions.
  • Because of the volatility of crypto assets, prices change and fluctuate constantly.
  • ChangeNOW charges you only the fees that are required to swap your coins with our liquidity providers.
  • We are transparent with our fee structure and want to provide you with the best service possible.

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ChangeNOW is an instant cryptocurrency exchange service for limitless crypto conversions. We support over 200 coins and are account-free! https://changenow.io/