Toronto, Canada, July 21, 2024, Chainwire
New study reveals some Canadian cryptocurrency platforms charge up to 19 times more in fees
RankFi, an independent comparison platform, has published its latest study on cryptocurrency exchange fees, highlighting significant cost differences between 18 Canadian trading platforms. This comprehensive analysis aims to help cryptocurrency investors find the best deals for buying and selling in Canada.
The study identified two major challenges faced by cryptocurrency 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 profitable cryptocurrency platforms.
Key findings of the study include:
- The average total fee for buying Bitcoin on 18 Canadian exchanges was 1.90%, and the selling fee averaged 2.13%.
- Fares varied significantly, with the cheapest option being 19 times less expensive than the most expensive in terms of all-inclusive sales rates.
- While the average transaction fee was 0.72%, transaction fees alone do not reflect the total cost. Notably, none of the exchanges offering 0% transaction fees were ranked as the cheapest to buy Bitcoin.
“Cryptocurrency investors often face high fees that can erode their profits. Our study is designed to shed light on where Canadians can find the best deals,” said RankFi founder Alex. This is RankFi’s fourth annual review, which highlights discrepancies in fees across platforms.
About RankFi
RankFi is a comparison site that offers detailed analysis and reviews of cryptocurrency platforms around the world. Our mission is to provide clear and unbiased information to help cryptocurrency investors find the best platforms for their needs.
For more information, users can visit RankFi.com.
ContactAlex DabekRankFi[email protected]
This article was originally published on Chainwire
