This allowed us to calculate the amount lost to fees on each transaction. Most top Canadian crypto exchanges provide a comprehensive list of their fees on their websites for transparency. These fees cover mining costs, which involve validating your transaction and adding it to the blockchain. Popular exchanges often charge a commission on trades, offering lower fees for more frequent and higher-volume trading. We assessed the exchange’s security by checking how they store digital assets in Canada, requiring a minimum of 95% in cold storage or using trusted third-party custodial services like Coinbase Custody. In addition to transaction fees when buying or selling crypto with fiat or other cryptocurrencies, you’ll also encounter fees for withdrawing crypto to a digital wallet.

Additionally, we verified if the app is available for both iPhones and Androids to cater to various phone compatibilities. You may get locked out, face deposit issues, or verification problems. We checked over 40 Canadian exchanges for 24/7 support and fast replies. If they’ve been around long enough, most cryptocurrency exchanges in Canada will have customer reviews. This influenced our rating of the best cryptocurrency trading platforms for Canadians. That’s why you want an exchange that takes customer issues seriously. When trading crypto, things can go wrong. Some Canadian platforms offer email support, while others have phone, email, live chat, and social media – mouse click the up coming website – support. Good customer service is vital for the best crypto exchanges.

When Trading Crypto Means More than Money

By subtracting the trading fees we were able to determine the spread of each trade. It’s important to find a Canadian cryptocurrency app that makes the process of trading crypto as easy and intuitive as possible. Some reputable exchanges have advanced interfaces with charts and order books that might be suitable for seasoned investors, but anybody new to crypto might find those tools overwhelming. The higher the spread the more costly the trade.

While it’s essential to weigh the associated risks and benefits. There are a few different crypto exchanges that are popular in Canada, and each one has its own fee structure. In fact, you pay high spreads on your crypto trading activities. If you want to be safe, it’s good to use exchanges that follow Canadian laws. You might think that Shakepay or Newton have the lowest trading fees in Canada because they are advertised as “no-fee exchanges”. After careful research, our team found out that BitBuy is the lowest trading fee cryptocurrency app in Canada with only %0.2 trading fees and free deposits. Some exchanges charge higher fees for certain trades, while others have lower overall fees. Which crypto exchange has the lowest fees in Canada?