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RankFi Study Reveals Major Fee Discrepancies Among Canadian Crypto Exchanges

Fees on some platforms are 19 times higher, impacting investors' returns.

Chainwire · Jul. 22, 2024 at 8:31 am UTC · 1 min read
RankFi Study Reveals Major Fee Discrepancies Among Canadian Crypto Exchanges

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Toronto, Canada, July 21st, 2024, Chainwire

A new study reveals some Canadian crypto platforms charge up to 19x more in fees

RankFi, an independent comparison platform, has released its latest study on cryptocurrency exchange fees, highlighting substantial cost differences among 18 Canadian trading platforms. This comprehensive analysis aims to help crypto investors find the best deals for buying and selling Bitcoin in Canada.

The study identified two major challenges faced by crypto investors: high fees that reduce returns and the overwhelming task of comparing numerous platforms. RankFi’s review provides crucial insights into where users can find the most cost-effective crypto platforms.

Key findings from the study include:

  • The average all-in fee to buy Bitcoin across 18 Canadian exchanges was 1.90%, with the selling fee averaging 2.13%.
  • Fees varied significantly, with the cheapest option being 19 times less expensive than the most costly for all-in selling fees.
  • While the average trading fee was 0.72%, trading fees alone do not reflect the total cost. Notably, none of the exchanges offering 0% trading fees ranked as the cheapest for buying Bitcoin.

“Crypto investors often face high fees that can erode their returns. Our study is designed to shed light on where Canadians can find the best deals,” said Alex, Founder of RankFi. This marks RankFi’s fourth annual review, underscoring the fee discrepancies between platforms.

About RankFi

RankFi is a comparison site offering detailed analyses and reviews of cryptocurrency platforms worldwide. Our mission is to provide clear, unbiased information to help crypto investors find the best platforms for their needs.

For more information, users can visit RankFi.com.

 

Contact

Alex Dabek
RankFi
[email protected]

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