RankFi is pleased to publish its latest study on cryptocurrency exchange fees, revealing significant cost discrepancies among major Canadian trading platforms.
Crypto investors face two significant challenges when selecting an exchange: high fees that erode returns and the overwhelming task of comparing numerous platforms. This comprehensive report involved testing 18 Canadian crypto exchanges, shedding light on where users can find the best deals for buying and selling Bitcoin.
Key Findings
- Out of 18 services in Canada, the average all-in fee to buy Bitcoin was 1.90%. The average selling fee was 2.13%.
- Fees vary widely between platforms, with the cheapest option costing 19 times less than the most expensive for the all-in selling fee.
- The average trading fee across 18 services was 0.72% but trading fees alone do not provide a complete view of a crypto platform’s costs. Despite seven exchanges offering 0% trading fees, none ranked as the cheapest for buying Bitcoin.
This marks our fourth annual review and highlights the fee discrepancies between platforms, with some exchanges charging up to nineteen times more than others. By providing this information, we hope to enable crypto investors to make smarter decisions, leading to higher returns and fewer unnecessary costs.
About RankFi:
RankFi is a comparison site helping investors review cryptocurrency platforms worldwide. Our mission is to provide clear, unbiased tools and information to help investors choose the best investing platforms.
For more information, users can visit https://rankfi.com
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