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How can I buy and sell crypto without paying any transaction fees?

avatarAmit RaiDec 15, 2021 · 3 years ago3 answers

I'm interested in buying and selling cryptocurrencies, but I want to avoid paying any transaction fees. Is there a way to do this? What are some strategies or platforms that allow me to trade crypto without incurring any fees?

How can I buy and sell crypto without paying any transaction fees?

3 answers

  • avatarDec 15, 2021 · 3 years ago
    One way to buy and sell crypto without paying transaction fees is by using decentralized exchanges (DEXs). DEXs operate on blockchain technology and allow users to trade directly with each other without the need for intermediaries. This eliminates the need for transaction fees that are typically associated with centralized exchanges. Some popular DEXs include Uniswap, SushiSwap, and PancakeSwap. However, it's important to note that DEXs may have other costs such as gas fees, which are required to process transactions on the blockchain.
  • avatarDec 15, 2021 · 3 years ago
    Another option to avoid transaction fees is by using peer-to-peer (P2P) trading platforms. These platforms connect buyers and sellers directly, allowing them to negotiate and trade without any intermediaries. Examples of P2P trading platforms include LocalBitcoins and Paxful. However, it's important to exercise caution when using P2P platforms and ensure that you are trading with reputable and trustworthy individuals.
  • avatarDec 15, 2021 · 3 years ago
    At BYDFi, we offer a unique solution for buying and selling crypto without transaction fees. Our platform utilizes a decentralized finance (DeFi) model, which allows users to trade directly with each other without any fees. Additionally, our platform provides advanced trading features and a user-friendly interface. However, it's important to do your own research and consider the risks associated with trading crypto before using any platform.