Any user wants to find a way that would allow them to exchange cryptocurrency as profitably as possible: buy Bitcoin low, and sell it high.
The methods described in this article are mainly suitable for Bitcoin. If you want to exchange altcoins for fiat, these methods will not work for you. Altcoins are not very popular on the exchangers, so things are more difficult with them. Well, we shall start the review and tell you how to buy and sell Bitcoin without fees.
Is it possible to buy and sell Bitcoin without a fee?
Before we start, we will immediately stipulate that the only way to exchange cryptocurrency without any fees is a direct exchange between the buyer and the seller. If you use the services of an intermediary, you either pay a fee or buy at a less favorable rate. Let us explain why it is so.
When you exchange with another individual directly, you don’t need to pay extra to anyone. You simply agree in advance on the cost of the exchange, and then make the transaction. This is the first and most obvious way to buy bitcoin without fee using a card, payment system, bank transfer, or cash. But this method has its own significant drawbacks. We’ll talk about them later.
When you use sites, they act as intermediaries and charge fees for their services. For this, they provide you with security and guarantee that you’ll get the money or coins. On some exchanges, you can see claims that they do not charge fees. In fact, this is not quite true. Yes, you don’t pay the fee, of course. However, the platform or seller has to make a profit somehow. They bear the costs of site maintenance, marketing, and counterparty risks. Therefore, if the fee is not charged, it means that it is already included in the cryptocurrency cost. The secret is very simple. Although there are still sites that allow you to exchange bitcoin not only without fees, but also at a favorable rate.
Advantages of direct exchange
The most important advantage of this method is the absence of fees. Moreover, you can convert Bitcoin to fiat and vice versa at a more favorable rate. It all depends on how you agree with another individual. These are the only advantages of this method.
Disadvantages of direct exchange
But the disadvantages are much more numerous, and they significantly outweigh the advantages. The main disadvantages of direct exchange are as follows:
- Long transaction time. This transaction can only be made in person, so you may have to spend a few hours on the road and the transaction itself. And this is not counting the fact that you will spend time searching for a buyer/seller;
- Geographical limitations. In addition to the fact that you can spend a lot of time searching for a counterparty, you may not find one in your city;
- Risks. In this case, you are not insured in any way. The counterparty may try to cheat you or simply steal money. If you decide to use this method, be sure to choose a public place to exchange, such as a cafe or shopping center, and conduct the transaction only during the day.
And how can you sell bitcoin safely and profitably without fees?
When you are looking for a way to sell Bitcoin profitably, you are faced with a situation that buyers either greatly reduce the rate, or charge a large fee, if it is not a crypto exchange. However, there is a service that allows you not only to sell Bitcoin for PayPal without fees, but also to do it at the highest rate. This service is called HiRiBi. With it, you can sell Bitcoin about 10% higher than the average exchange rate.
If you are interested in the question: how is this possible? The answer is very simple. The hiribi platform tracks rates on 20 major crypto exchanges. On some exchanges, the Bitcoin exchange rate is significantly higher than on most other trading platforms. However, these sites are not available to many private users, but the service has access to them.
The main advantage of HiRiBi in addition to the favorable rate is the support of the PayPal payment system. Only a few crypto sites work with it. Therefore, HiRiBi is one of the few available platforms that allow you to sell bitcoin for PayPal USD. The service also has a profitable affiliate program that allows you to earn up to 2% from every exchange made by users you invited.
Where to buy bitcoin without a fee
You can buy bitcoin for free using p2p-exchanges. These platforms act as a guarantor of transactions for users who exchange cryptocurrency between themselves. Some of these sites do not charge fees to buyers and sellers if they do not place offers themselves. Here is a list of such services.
LocalBitcoins
One of the largest and most popular P2P exchangers. The exchanger uses an internal account, where coins are frozen during the transaction, which protects users from fraud. A 1% fee is only charged to users who post their own offers. However, it should be understood that contractors want to make a profit, so they take into account the fee in the cost, as well as slightly raise the sale price and reduce the exchange rate when buying.
You can place your own offer, which will allow you to buy bitcoin at a more favorable rate, and sell at a higher one. This way you can not only save on fees, but also make money.
Paxful;
Another popular P2P exchanger. This service is similar to LocalBitcoins in many ways, with one key difference: all sellers pay a fee, while buyers are not charged. It doesn’t matter whether you place an offer or not. Therefore, this service is also profitable for those customers who want to specify the desired exchange rate of cryptocurrency themselves.
LocalCoinSwap
This P2P service is also not much different from previous exchangers. Its pricing policy is the same as LocalBitcoins: 1% is deducted from users who placed an order, and regular buyers and sellers do not pay a fee.
Binance
Binance is one of the largest crypto exchanges in the world. A small fee of 0.1% is charged for cryptocurrency exchange. However, the crypto exchange has its own P2P market, which allows you to exchange some cryptocurrencies without fees. The advantage of Binance is that the platform supports several other cryptocurrencies besides Bitcoin, as well as the usdt stablecoin.
In this article, we have reviewed several ways to buy bitcoin without fees, as well as their advantages and disadvantages. You can buy cryptocurrency for free using some P2P exchanges, and sell it using HiRiBi, which also allows you to earn money by selling Bitcoin cryptocurrency.
2 comment(s)
3
3
3
3