Most people overpay when buying Bitcoin. The difference between exchanges can be $50+ on a $1,000 purchase. Here's the actual cost breakdown.
Fee comparison: $1,000 Bitcoin purchase
| Exchange | Trading Fee | Spread | Deposit Fee | Total Cost | Effective Rate |
|---|---|---|---|---|---|
| River | $0 maker | ~0.1% | Free (ACH) | ~$1.00 | 0.10% |
| Kraken Pro | 0.16% maker | ~0.1% | Free (ACH) | ~$2.60 | 0.26% |
| Coinbase Advanced | 0.40% maker | ~0.1% | Free (ACH) | ~$5.00 | 0.50% |
| Gemini ActiveTrader | 0.20% maker | ~0.2% | Free (ACH) | ~$4.00 | 0.40% |
| Binance | 0.10% | ~0.1% | $0 (wire) | ~$2.00 | 0.20% |
| Coinbase (Simple) | ~1.49% | ~0.5% | Free (ACH) | ~$19.90 | 1.99% |
| Cash App | ~1.5% | ~0.3% | Free | ~$18.00 | 1.80% |
Cheapest option for most Americans: River (BTC-only, ACH deposits, 0% maker fees)
Cheapest for multi-crypto: Kraken Pro or Binance (if available in your region)
Use our Exchange Fee Calculator to run your own comparison.
Hidden costs most people miss
1. The spread
The spread is the difference between the buy and sell price. Even "fee-free" exchanges make money on the spread. A 0.5% spread on $1,000 = $5 hidden cost.
2. Simple vs Pro interfaces
Coinbase charges 1.49% on the simple interface but only 0.40% on Coinbase Advanced — same account, same funds. Always use the pro/advanced trading interface.
3. Withdrawal fees
Some exchanges charge to withdraw your Bitcoin. This matters if you're moving to a hardware wallet:
- Coinbase: Free (up to limits)
- Kraken: ~$1-3
- Binance: ~$2-5
- Gemini: 10 free withdrawals/month
4. Deposit methods
Wire transfers are often cheaper than debit cards:
- ACH bank transfer: Usually free
- Debit card: 1.5-3.5% extra
- Wire transfer: $0-25 flat fee
The cheapest strategy for regular buyers
If you're dollar-cost averaging (buying regularly), consider:
- Use ACH deposits (not debit card) to avoid deposit fees
- Use the advanced/pro interface for lower trading fees
- Batch withdrawals to reduce withdrawal costs
- Set limit orders instead of market orders for maker pricing
Model your DCA returns with our DCA Calculator and check your potential gains with the Bitcoin Profit Calculator.
By country
- US: River, Kraken Pro, or Coinbase Advanced
- UK: Kraken or Coinbase (FPS deposits)
- EU: Kraken or Bitstamp (SEPA deposits)
- Canada: Kraken or Shakepay
- Australia: Kraken, CoinSpot, or Swyftx
Not sure which exchange is best for you? Use our Exchange Recommender.
Related tools
- Exchange Fee Calculator — run your own fee comparison
- Exchange Recommender — personalized exchange match
- DCA Calculator — model regular Bitcoin purchases
- Bitcoin Profit Calculator — calculate gains
- How to Buy Bitcoin — step-by-step guide
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