Tired of losing crypto to transfer fees with every transaction? You’re not alone.
Simply flip the script. That said, the crypto world is filled with platforms promising “near-zero” or “fee-free” transfers, often with a little fine print.
Sending funds, paying for services, or moving assets is now easier and cheaper on these platforms.
Here are the four best platforms for sending cryptocurrency for free—or as close to free as you can get.
Binance
Binance is a household name in crypto, offering a vast range of coins, low trading fees, and unique perks. For instance, one of its highlights is “Binance Pay,” which lets users send crypto to each other within the Binance ecosystem without incurring fees. In particular, this can be an ideal solution if both you and the recipient have Binance accounts, as it enables genuinely free transactions within the platform.
Blunt reality check: As tempting as Binance’s “free” transfers are, this only applies to transfers within Binance. Ideally, if you want to send funds to an external wallet or another exchange, network fees will still apply, so consider this only for Binance-to-Binance transfers.
Best for: People who often send funds within Binance, or for those who want to leverage frequent zero-fee promotions for specific coins.
Potential drawbacks: Fees on outbound transfers are unavoidable, and while Binance Pay is a good free option, it’s limited to on-platform transfers.
Crypto.com
Crypto.com has grown quickly, offering competitive rates, access to an expansive crypto portfolio, and sometimes fee waivers on withdrawals for certain coins.
Not only that, you can make internal transfers within Crypto.com’s app at no cost in certain cases. However, while “free” transfers may depend on the coin, the platform occasionally rolls out promotions to minimize fees for common assets.
Blunt reality check: Crypto.com’s “free” transfers are often tied to specific coins or promotional periods, and even then, they apply mostly within its app ecosystem. If you’re transferring assets to an external wallet, expect fees based on the coin and network.
Best for: Users who prefer keeping transactions within Crypto.com’s ecosystem and who want access to perks like cashback rewards.
Potential drawbacks: The platform’s free transfer options are inconsistent, and only selected assets may qualify for fee waivers.
KuCoin
KuCoin is a strong contender for budget-conscious crypto enthusiasts. Like Binance, KuCoin offers free transfers between accounts within its platform, making it ideal for users who frequently transact with others in the KuCoin ecosystem.
With a broad selection of cryptocurrencies and reasonable fees on external transfers, KuCoin has become a popular choice for cost-effective trading and transfers.
Blunt reality check: Free transfers on KuCoin are only possible between KuCoin accounts; transfers to external wallets are subject to standard fees.
Best for: Users who have a network of contacts on KuCoin, where internal transfers can add up to significant savings.
Potential drawbacks: External fees are unavoidable, and the platform’s interface may feel slightly complex for beginners.
Paxful
If Bitcoin is your main focus, Paxful could be the answer. Known for its focus on peer-to-peer trading, Paxful offers Bitcoin transfers between wallets on its platform without fees. It supports a wide range of payment options, making it easy for users to send BTC as needed with zero fees for internal transfers.
Blunt reality check: Paxful’s free transfers apply exclusively to Bitcoin and only for transfers between Paxful wallets. If you’re dealing in altcoins or need to transfer to an external wallet, you’ll face the usual network fees.
Best for: Bitcoin users who want a peer-to-peer platform with free internal transfers.
Potential drawbacks: Paxful’s free transfer option is highly specific, and limited to Bitcoin within the platform. So it’s not the best for users who want to transact in multiple cryptocurrencies.
Wrapping Up
In the quest to send cryptocurrency without breaking the bank, platforms like Binance, Crypto.com, KuCoin, and Paxful offer some of the best options. Remember, however, that “free” in the crypto world usually means platform-specific or account-to-account transfers. For external transfers, standard network fees still apply. As always, check the specific terms of each platform before sending funds to maximize your savings and avoid unnecessary fees.
