When it comes to crypto trading, one of the factors that worry users is the astronomical hidden fees that come up while completing a transaction on an exchange.

A lot of crypto exchanges use complex tiered structures for maker-taker fees, and fee structures that are different for high volume traders and casual traders. Other hidden fees can include withdrawal fees, variable bank transfer charges, or high bid-ask

spreads that act as “hidden fees” by reducing the actual execution price

Why Transparency Matters 

Trust and transparency are core tenets in the digital assets ecosystem to boost user adoption. Here are a few reasons why they are important:

1. Proof and Loss: Transparency allows a trader to calculate their genuine Profit & Loss before hitting the execute button, shifting trading from guesswork to an informed strategy
2. Accountability: Upholding openess ensures the exchange is perceived to be ethical and accountable thereby driving investor confidence and trust.

These factors naturally play a role when users scout for crypto exchanges to begin their journey on. And here’s where KoinBX stands out with zero hidden fees. KoinBX is an FIU- India registered exchange, offering over 200 crypto assets, and 225+ trading pairs.

The exchange has been a part of the ecosystem since 2019, serving over 1.5 million users till date.

Different Types of Fees

It is a well-known fact that both centralized exchanges and decentralized exchanges charge fees. While categories and names may vary, the breakdown of the type of fees that an exchange typically charges users are as follows:

1. Trading fees: Trading Fees, also known as maker-taker fees, where makers (traders who add liquidity to the order book) pay lower fees and takers (who remove liquidity by taking existing orders) pay higher fees.
2. Deposit fees: While crypto deposits are free, a lot of exchanges levy fees on fiat deposits. However, there might be alternative payment methods where they have a lower rate for deposit.

3. Withdrawal fees: There are different kinds of withdrawal fees that crypto exchanges levy on users. Some may charge a flat fee, some charge a pre- determined percentage and others may charge a network fee, depending on the

4. Miscellaneous charges: If the exchange is based in India, there may be a charge of 1% Tax Deducted at Source (TDS) and 30% tax on gains from crypto assets.

Pillars of Honest Trading Beyond Fees 

Compared to its competitors that offer tiered fee structures, KoinBX has a flat trading

fee of 0.25% for both maker and taker orders. There is no deposit fee for cryptocurrency deposits.

Withdrawals, however, may have some fees listed below:

Crypto withdrawals: incur network fees, which vary by asset.

Examples of specific withdrawal fees can be found on the KoinBX fees page, such as for ETH on different networks.

INR withdrawals: may have different fee structures, but the platform offers instant options.

Here are some more reasons why you should pick KoinBX:

1. FIU-India compliant: As per a government mandate, all virtual digital assets providers must be registered with FIU-India. KoinBX is fully committed to complying with all FIU guidelines for crypto exchanges in India. As an FIU- registered entity, it adheres to the Prevention of Money Laundering Act (PMLA) and other legal requirements. This ensures that KoinBX operates transparently and responsibly, giving users a safe and secure platform to trade digital assets.
2. Simple UI/UX: KoinBX understands that entering the crypto ecosystem is nerve-          wracking and intimidating as a To ensure ease of onboarding among first timers, KoinBX has kept its user interface as simple as possible to minimize confusion.
3. 24*7 Customer Support: As a crypto exchange, first and foremost KoinBX is user centric, which sets it apart from other exchange. We offer support in regional languages such as Hindi, Tamil, Malayalam, Kannada, and Gujarati, apart from English.

Conclusion: 

There you have it! While finding the best crypto exchange with no hidden fees is tough, if you are based out of India, KoinBX should definitely be your chosen exchange. Not just for the barely there fees, but also for compliance, security and customer support.

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