What are some strategies for buying bitcoins without paying fees?

1 answers

• Dec 28, 2021 · 3 years ago
  One effective strategy for buying bitcoins without paying fees is to leverage decentralized exchanges (DEXs). DEXs operate on blockchain technology and allow users to trade cryptocurrencies directly with each other without the need for intermediaries. By eliminating intermediaries, DEXs can significantly reduce or even eliminate transaction fees. Some popular DEXs include Uniswap and SushiSwap. However, it's important to note that DEXs may have lower liquidity compared to centralized exchanges, so it's essential to do your research and ensure the platform you choose has sufficient trading volume. Another strategy is to take advantage of cashback programs offered by certain exchanges. Some exchanges, such as Coinbase, offer cashback rewards for specific types of transactions, such as using a debit card to purchase cryptocurrencies. By participating in these programs, you can effectively offset or reduce the fees associated with buying bitcoins. You can also consider using cryptocurrency ATMs, which allow you to purchase bitcoins directly with cash. While some ATMs charge fees, there are often options available that offer fee-free transactions. Use online directories or mobile apps to find fee-free cryptocurrency ATMs in your area. Lastly, you can explore peer-to-peer lending platforms that allow you to borrow bitcoins without paying fees. These platforms connect lenders and borrowers directly, enabling you to obtain bitcoins without incurring transaction fees. However, keep in mind that borrowing comes with its own risks, so make sure to thoroughly understand the terms and conditions before participating in any lending activities.
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