A cryptocurrency called Bitcoin Cash (BCH) was developed and released to restore decentralization to cryptocurrencies. It is the outcome of a 2017 “hard fork” in the Bitcoin protocol, which happens when a single blockchain breaks into two. Compared to Bitcoin, Bitcoin Cash permits more transactions per block, which should result in reduced fees and faster transaction times.
Much like how Bitcoin was intended to be used initially, Bitcoin Cash is intended to be utilized as a cheap transaction mechanism. Payment verification times are substantially shorter than those of Bitcoin, usually taking only a few seconds, and transaction costs are typically less than $0.01. When trading bitcoin cash, there are not many transaction fees. The sections below include information on these transaction levies.
Bitcoin Cash fees
The typical charge in USD charged by a miner to execute and verify a deal is known as the “Standard Transaction Cost.” When the network is congested, average processing costs might increase, as they did in 2017 during the crypto bubble when they almost reached $60.
The average processing fee has decreased from 1.837 to 1.022 as of right now. The following trading platform provides the cheapest trading fees for the trading of BCH.
CoinEx
The network’s planned flat rate for cryptocurrency trade is 0.20%. This cost is equivalent to the global industry standard, which may range from 0.20 to 0.25%; however, an increasing number of businesses are moving toward even lower costs (like 0.10%). The website does not charge a fee for BTC cash withdrawals.
Coinbase
On transactions of cryptocurrencies, Coinbase levies a spread. Although prices can change according to changes in the market, the corporation has previously stated that the cost is roughly 0.5%. The withdrawal fee for BCH is $0.0002.
Bitforex
The best global one-stop shop for financial services is BitForex. The system has a great deal of vitality thanks to strong stable associates and abundant resources. For both buyers and producers, trading commissions on this exchange are set at 0.10%. As a result, the market has what we call “flat fees.” A $0.009 withdrawal fee is applied when you withdraw BCH from BitForex.
CoinFalcon
The taker’s fee on CoinFalcon is set at 0.20%. 0.25% is considered to be the trade standard for taker fees, making 0.20% neither too low nor excessively high. It charges $0.009 in withdrawal fees for BCH transactions.
Kraken
Trade costs are calculated by Kraken based on the volume of trades you make over a rolling 30-day period. The price list includes transfers between $0 and $50,000 incur a maker fee of 0.16% or a taker fee of 0.26%. Transactions between $50,000 and $100,000 incur a maker fee of 0.14% or a taker fee of 0.24%.
OKEx
Dealing fees on OKEx are 0.1% for Market Participants and 0.15% for Market producers, making it one of the most affordable exchanges. The platform has a cap of 0.001 BCH and costs up to $0.06 for coin withdrawals.
OKCoin
The trading commission for takers on OKCoin is 0.20%. This cost is typical for the sector. Additionally, the exchange provides a concession to makers who deal at a 0.10% commission. Investors who are not interested in filling current orders from the order book will particularly benefit from this.
Binance US
Trading commissions at Bleutrade Exchange range from 0.2% to 0.5%. Comparing these prices to industry norms of other cryptocurrency exchanges, they are relatively affordable.
Bitrue
They charge a fixed fee of 0.098%. This is significantly less than both the home industry average and the possibly-0.25% global industry average. Bitrue’s taker and maker charge of 0.098% is significantly lower than the aforementioned domestic averages.
