RankFi Study Reveals Significant Fee Discrepancies Among Canadian Crypto Exchanges

Toronto, Canada, July 21st, 2024
A new study reveals significant discrepancies in fees among Canadian crypto platforms

RankFi, an independent comparison service, has published a study highlighting the stark differences in cryptocurrency exchange fees across 18 Canadian trading platforms. This analysis aims to assist crypto investors in identifying the most cost-effective options for buying and selling in Canada.

The study uncovered two key issues that crypto investors frequently encounter: exorbitant fees that diminish overall returns and the challenge of comparing multiple platforms effectively. RankFi’s findings provide valuable insights into where users can find the most competitively priced crypto platforms.

Key findings from the study include:

• The average fee for purchasing Bitcoin across the 18 exchanges was 1.90%, while the average selling fee stood at 2.13%.
• Fees varied widely, with the least expensive platform costing 19 times less than the most expensive option regarding all-in selling fees.
• Although the average trading fee was 0.72%, this figure does not reflect the total costs involved. Notably, no exchanges that promoted 0% trading fees were found to be 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," stated Alex, the Founder of RankFi. This year marks the fourth annual review by RankFi, emphasizing the ongoing discrepancies in fees among platforms.

About RankFi
RankFi is a comparison platform that provides thorough analyses and reviews of cryptocurrency services globally. Its mission is to deliver clear, objective information to assist crypto investors in finding platforms that suit their needs.

For inquiries, please contact Alex Dabek at [email protected].