Is crypto trading free? This is a very simple yet complicated query in itself. Most of us who are entering into cryptocurrency trading for the first time would most likely be interested in this question. If we call it a yes, it would not be wrong, but it would definitely be a beguiling answer too. Or something that we can term as incomplete. Crypt trading is free technically, but it is never free. So as not to confuse you any further, let us look into the details of this matter.
Is Crypto Trading Free?
Let us discuss both the aspects as to how crypto trading is considered free and the way it becomes paid while practically carrying out the trades one by one.
How is Crypto Trading Free?
Crypto Trading is free because it has the following qualities:
- It is free to register on some cryptocurrency exchange for crypto trading.
- It is free to download and use crypto wallets, most of them.
- It is free to start manufacturing your own cryptocurrency tokens, you do not need any special license or permission.
- It is tax free in most circumstances, so if you are trading crypto, it is usually free from added payments to be made as tax to the government.
How is Crypto Trading Not Free?
Crypto Trading is considered paid because of the following qualities:
- Although it is free to register, yet most reputed cryptocurrencies will charge a small amount to validate you and all the KYC’s needed.
- Most crypto wallets are free, but advanced traders like to use more sophisticated wallets that provide extra security. These are usually paid. This adds cost to crypto trading.
- Although you can make your own cryptocurrency tokens for free, the computer paraphernalia required for this is very expensive. It is expensive both from a procurement front and from an operational cost point of view.
- Cryptocurrency trading is tax free only for very small traders. If you reach even the middle class category as a cryptocurrency trader, you will face some tax slabs for sure.
Besides the above factors, there are other trading costs too. For example, each exchange and each platform that you deploy for trading will have an additional cost or charge. That is why traders prefer platforms where such charges and fees are the lowest. Executium.com is one such example that is rising very fast on the ladder of success. They have some of the best possible rates for cryptocurrency trading, which makes it as close to free as possible.
The Final Answer
So if we take the final answer for the question, is crypto trading free, it is not. It may sound or appear so, but it is not in reality. There are many hidden costs that surface as soon as you start to trade, which you will not know of when you have never traded cryptocurrency earlier. This is another cause for the failure of most unprepared traders, who start on their own without researching the niche. Executium.com is advantageous in this regard too. It teaches and educates new crypto traders.