In this post, I will analyze how much Canadians can expect to pay on Coinbase in terms of fees. I will show all the costs you need to take into account: deposit fees, conversion fees, withdrawal fees, and trading fees. I will also compare Coinbase Canada’s fees to other crypto exchanges that are authorized to do business in Canada.
This article is part of my series on the best Canadian crypto exchanges.
Coinbase fees at a glance
Coinbase trading fees
| Amount | Maker | Taker |
|---|---|---|
| 0-$10,000 | 0.4% | 0.6% |
| $10,000-$50,000 | 0.25% | 0.4% |
| $50,000-$100,000 | 0.15% | 0.25% |
| $100,000-$1,000,000 | 0.1% | 0.2% |
How do coinbase fees compare to other crypto trading platforms in Canada?
Coinbase crypto fees compared
| Crypto assets | Deposit | Withdrawal | ||
|---|---|---|---|---|
| Maker fee | Taker fee | Interac | Interac | |
| Kraken | 0.25% | 0.40% | 0.50% | CAD 10 |
| Coinbase | 0.40% | 0.60% | 1% | 1% |
| Crypto.com | 0.075% | 0.075% | 0% | CAD 1.99 |
| NDAX | 0.20% | 0.20% | 0% | CAD 1.5 |
| Newton | undisclosed spread | - | 0% | 0% |
| ShakePay | undisclosed spread | - | 0% | 0% |
| Coinsmart | 0.2% if you trade BTC and 0.3% otherwise | - | 1.5% up to CAD 2,000 and free for larger amounts | 1% |
| Coinsquare | 0.5-2% spread | - | 0% | 0% |
| Bitbuy | 2% | 2% | 0% | 1.5% |
| Netcoins | 0.5%+spread | 0% | 0% | |
| VirgoCX | 0.5%-2.5% depending on trading pair | 0% | 0% | |
| Coinberry | 2% | 2% | 0% | 1.5% |
Coinbase Deposit and Withdrawal Fees
| Deposit | Withdrawal | Speed | |
|---|---|---|---|
| Interac e-Transfer | dependent on bank | Possible | Up to 5 minutes |
| 3d secure card | 3.99% | Not possible | Instant |
| PayPal | 2.5% | Possible | 1 business day |
Coinbase vs Coinvase Pro fees
Coinbase has two trading interfaces.
Coinbase standard is for newbies which charges higher fees while Coinbase advanced is aimed at experienced traders and offers lower fees.
In the past, Coinbase used to have two separate apps: Coinbase and Coinbase Pro. These have now been merged into and the Coinbase Pro app has been deprecated. Instead, if you are an experienced trader you can switch a toggle on under settings which will reveal advanced trading features. This version is known as Coinbase Advanced and offers cheaper rates.
Let’s take a closer look at what fees you can expect.
Deposit and withdrawal fees vary depending on your payment method.
Deposit fees
- Interac e-Transfer: depending on the partnering bank these can be free or cost 1% which is expensive. Coinbase does not have a dedicated page but this is the answer they give in this Reddit discussion. While in other countries Coinbase charges a flat fee this does not seem to be the case in Canada.
- 3d secure card: 3.99%
- PayPal: 2.5%
Withdrawal fees
- Interac e-Transfer: up to 1%
- Debit card: not possible
- PayPal: 2.5%
Coinbase Crypto Trading fees
If you use the standard trading app you can can expect to pay heftier transaction fees compared to the trading app. This is because the standard app charges a spread on top of the market price of the asset. You are way better off toggling Coinbase Advanced on under the settings. The user interface is a little busier but new investors shouldn’t be intimidated by it.
Coinbase Advanced trading fees
The platform maker-taker fee structure varies depending on the amount you are trading. A taker is someone who places a market order and accepts the current price on the market. A maker on the other hand is someone who places a limit order. A limit order executes only if the market price drops or rises to the limit price. Exchanges charge makers lower fees because they bring liquidity to their order book.
For amounts less than $10,000
- Maker fees: 0.4%
- Taker fees: 0.6%
$10,000 and $50,000
- Maker fees: 0.25%
- Taker fees: 0.4%
$50,000 and $100,000
- Maker fees: 0.15%
- Taker fees: 0.25%
$100,000 and $1,000,000
- Maker fees: 0.10%
- Taker fees: 0.20%
For amounts larger than that check the fee schedule here.
Be aware that you will also need to pay tax on any profits. See Crypto Tax Canada for more.
Stablecoin fees
Note that stablecoins have much lower fees. This is true across all crypto exchanges because stablecoins are much less volatile.
- makers pay zero fees
- Takers pay between 0.1% and 0.45% depending on your trading volume.
- Keep in mind that as a Canadian user, you will only be able to buy the USD coin stablecoin USDC. USDT, DAI, and other stablecoins are banned in Canada at the time of writing.
Miner fees
Coinbase users should also be aware that whenever they make a blockchain transaction (buy crypto) they need to pay the blockchain a miner fee. This fee varies depending on the coin and the blockchain it belongs to. If you found that sentence confusing then I recommend you study what a bitcoin is and how it works.
Hidden fees
- You won’t be able to buy all crypto coins with canadian dollars on Coinbase
- This means you need to account for the cost to deposit fiat currency and the trading fee to convert it to USDC before you can start trading. Assuming you make an Interac bank transfer to deposit then you are looking at 1% for the deposit +0.45 % for the USDC conversion=1.45% to start trading. If you don’t use the advanced platform then you can expect this amount to be much higher.
Coinbase One fees
Advanced users who plan to trade frequently can consider using Coinbase One. This is a subscription-based program that charges a fixed monthly fee of $29.99 and includes
- zero trading fees
- boosted staking rewards
- priority support
At the time of writing Coinbase isn’t available to Canadian users. You can check this page for a list of countries where Coinbase One is available.
Reasons to open a Coinbase account
- user-friendly interface and mobile app
- trade over 250 crypto assets
- Deposit fiat money via Interac e-transfer, wire transfer, or debit card. At the time of writing you cannot use a credit card with coinbase
- Join Coinbase Earn, Coinbase’s learn-to-earn program that rewards you with crypto the more you learn about cryptocurrencies
- The majority of digital assets are stored in cold storage. Security measures include regular security audits, two-factor authentication, and Coinbase Vaults.
- Coinbase also operates a digital wallet that plugs into the Coinbase exchange nicely. Since your crypto assets are not insured by the Federal Deposit Insurance Corporation (FDIC) many prefer to store their crypto assets in crypto wallets. This way if Coinbase were to go bankrupt you would still have access to your funds. The safest option is to use a hardware wallet. See Which Is the Best Crypto Wallet in Canada for more.
- Coinbase is registered as a restricted dealer with the CSA which means it can serve Canadian users. See Is Coinbase Legit in Canada for more.
- You can reach Coinbase support via Live Chat or on the phone.
- Coinbase has a strong presence in Canada with over 200 people employed there.
About Coinbase
Coinbase is a publicly traded company based out of the United States and regulated by the Securities Exchange Commission. In Canada, it is licensed to operate by the Canadian Securities Administrator. Coinbase is the largest cryptocurrency exchange worldwide after Binance.
Do I need to share personal information with Coinbase Canada?
Yes, to comply with regulations Coinbase collects your phone number, email address, name, and address. It also requires you to verify your identity. The good news is that Coinbase also offers a crypto wallet that does not require any personal information. You can use this if you want but it’s going to be hard for you to avoid KYC altogether if you want to convert fiat into crypto.
Also related: Is Kraken Good in Canada? a Power User’s Ultimate Review
Up next
Is Coinbase Legit in Canada? Best Review (2024)
Yes, Coinbase is legit in Canada, and Canadians can open a Coinbase account. The international crypto exchange obtained a Canadian license in August 2023 which allows it to operate in Canada.