Coinbase is the largest U.S.-based exchange. It has a wide variety of options for users from beginners to advanced traders.
Coinbase was included in our "Best Crypto Exchanges in Canada" list only in December 2023, primarily due to introducing Interac e-Transfer for Canadian users, simplifying fund deposits. This feature allows easy and convenient deposit of funds from any Canadian online bank account, addressing a major hurdle for Canadian crypto traders. However, despite this improvement, Coinbase is still standing at the bottom of our list of preferred Exchange platforms for Canadians. The reason for this ranking being its fee structure.
The fees on Coinbase are among the highest in the crypto exchange industry. This includes a 3.99% fee for buying cryptocurrencies, a 0.50% fee per trade, and a spread that can go up to 2% for crypto-to-crypto trades. While Coinbase has built a reputation as an ideal platform for novice traders, thanks to its simplicity and robust security measures, these high fees significantly impact its attractiveness.
The cost of trading on Coinbase, due to its high fees, is a major downside that cannot be overlooked.
- Easy for beginners
- Fully compliant in Canada
- Easy deposits with Interac e-Transfer
- Great UI
- Wide range of cryptocurrencies
- Learn to earn crypto
- Educational resources
- Secure and compliant
- High fees
- Advanced tools only in Coinbase Pro
- Poor customer service
- Exchange has frequent downtime
- Limits on your purchases
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Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.