What rates should I expect to pay at an exchange?

I’ve been trying to find a decent crypto exchange I can use in Canada, but I have no idea what’s reasonable for rates.

I looked at Coinbase which charges a 4% base fee. Wow! That’s a ridiculous amount for transaction processing, isn’t it?

I also looked at Coinberry who says they charge 0% deposit and withdrawal fees, but with this fine print immediately below it:

We do not charge any crypto deposit fees. To cover mining fees, we charge the following for crypto withdrawals fees:
BTC - 0.0005, ETH - 0.0084, LTC - 0.02, XRP - 0.01

Umm. That’s a fee, isn’t it? They also add a “margin or spread of 0% - 2.5%” which is included in quotes and hidden in the fine print, so that’s 2 strikes in about 5 minutes on their site IMO.

Are there any exchanges that don’t suck or do you just have to eat a huge processing fee when trading crypto? Add in the need to shuffle between currencies and exchanges sometimes and it looks crazy. Are people really eating those huge fees to shuffle their crypto around?

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That’s a crazy base fee for depositing to Coinbase.

For us in the UK it’s free to deposit to Coinbase using bank transfer (they charge a fee for debit card). Then it’s 1.5% to trade (0.5% if you use Coinbase Pro).

Personally I am happy to have free deposits, 0.5% margin on trades then a small miners fee when withdrawing.

Try looking at Crypto.com for Canada.

You should expect to pay some fee’s when trading. If you are looking for a Robinhood free trading company then be careful.

From deep within their FAQ:

Fiat withdrawals are not yet supported on the Crypto.com Exchange

:frowning:

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This was updated one week ago?

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I use Binance for most activities. Not sure if it’s legal/accessible in Canada (I use it in europe). For SEPA withdrawals in EUR, I pay 0.80 EUR per transaction which is literally nothing. It has a daily withdrawal limit of 50k EUR. Not something I need to worry about, but maybe worth noting.

In general I’d say: Theres no exchange that beats Binances fees. (Maker/Taker for trading = 0.1%). But I also have some friends that would never touch Binance cause of various reasons.

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