Coinbase is one of the most well-known cryptocurrency exchanges in the world. Coinbase Canada only recently registered with the Canadian Securities Administrators (CSA), but it’s become popular for its no-fee deposits, membership rewards programs, and wide variety of available cryptocurrencies.
Unlike some exchanges, Coinbase charges maker/taker fees, which can make trading a bit more expensive. However, active members qualify for lower fees, so if you're a high-volume trader on Coinbase, your costs will likely stay reasonable.
Coinbase features
Here is what Coinbase has to offer.
Why You Want It
$75 GeniusCash + Trade over 200 cryptocurrencies + Includes offers stakingSpecial Features
- Trade over 200 cryptocurrencies
- Offers Staking available
- Fee discount for high-volume traders
- Free educational resources
Provinces
ALL
Features
Estimated # Of Supported Cryptocurrencies
200
Supports Bitcoin?
Supports Ethereum?
Supports Litecoin?
Supports XRP?
Estimated # Of Supported Fiat Currencies
N/A
Supports CAD?
Supports USD?
Standard Maker Fee
0.4%
Standard Taker Fee
0.6%
Active Trader Discounts Available?
Interac E-Transfer Deposit Fee
0%
Wire Transfer Deposit Fee
1%
Available On Desktop?
Available On IOS?
Available On Android?
Offers Staking
Coinbase product rating: 4.4 stars
Coinbase has a lot going for it. You can trade a wide variety of different cryptocurrencies, with all the usual suspects like Ethereum and Bitcoin available. There is no fee for an Interac e-Transfer deposit, and you'll get a discount on maker/taker fees if you're a high-volume trader. Its only shortcomings are the maker/taker fees, which are a little higher than others.
Rating methodology
To get our rankings, we compare the major features of cryptocurrency exchanges. Each feature then gets a score out of 5, based on how it compares to other cryptocurrency exchanges. Once every feature has been rated, we run them through our algorithm, which produces an overall rating out of 5.
Learn more about our rating methodology.
The pros of Coinbase
Here's what Coinbase has to offer.
Pros
Plenty of cryptocurrencies to trade
With over 200 cryptocurrencies to trade from, there’s bound to be something that you want to trade. The platform includes both popular coins like Bitcoin, Ethereum, and Tether, along with less popular options, including meme coins like dogwifhat, Popcat, and Fartcoin.
Offers staking
If you have a currency that offers staking (like Ethereum, for example), you can opt in through Coinbase. Instead of leaving your crypto to sit in your wallet, staking allows you to earn rewards while helping the blockchain run more smoothly. Just be aware that not all crypto allows staking.
Coinbase One membership offers rewards
If you’ve decided that Coinbase is the crypto exchange for you, consider purchasing a monthly membership to Coinbase One. You’ll enjoy zero trading fees (up to limits that depend on your membership level), account protection, boosted staking rewards, and more. If exclusive tax deals and onchain partner opportunities sound like a good idea, see which membership plan is right for you.
Fee discount for high-volume traders
If you do high-volume trading (we're talking $500,000 or more per month), you'll qualify for 0% maker fees for 22 stable pairs through Coinbase Advanced. You won’t be charged a subscription fee, either, making it a true savings for people who regularly trade significant amounts of crypto.
No fee Interac e-Transfers
You can fund your account for free by sending an Interac e-Transfer or Electronic Funds Transfer (EFT). Coinbase recently partnered with PayPal, so you can also buy or sell crypto using the online payment system with no additional fees.
Free educational resources
If you're new to cryptocurrencies, Coinbase offers a wealth of educational resources, which include articles, videos, and tutorials, to help you understand cryptocurrencies. Just click on the “Learn” tab of the Coinbase website for beginner guides and practical tips. You can also read Q&As with experienced traders. Once you know your way around cryptocurrency, check out resources for advanced traders.
The cons of Coinbase
There are a few pointa to consider with Coinbase.
Cons
High maker/taker fees
The maker/taker fees you'll pay while trading cryptocurrencies are a little higher here than on other platforms. Maker fees range between 0.00% and 0.40%, while taker fees cost you between 0.05% and 0.60%. If you frequently trade currencies (and trade less than $10K per month), you may pay more with Coinbase.
Hard to find the exact fees before making a transaction
Even though Coinbase lists their range of fees for various transactions, the site doesn’t make it easy to see the fee before you complete your transaction. This lack of transparency is a common complaint among Coinbase users.
Coinbase alternatives
Here are some other cryptocurrency exchanges you can take a look at.
 |  |  |  | |
|---|---|---|---|---|
| Account | Coinbase | Wealthsimple Crypto | Kraken | VirgoCX |
| Genius Rating | ||||
| Why You Want It | $75 GeniusCash + Trade over 200 cryptocurrencies + Includes offers staking | Get $50 when you fund your account with $500 + Commission-free trades. | $75 GeniusCash + Invest and trade in more than 350 cryptocurrencies + Low trading fees. | Invest in cryptocurrencies with no trader or maker fees. |
| Estimated # Of Supported Cryptocurrencies | 200 | 100+ | 530 | 90 |
| Supports Bitcoin? | | | | |
| Supports Ethereum? | | | | |
| Supports Litecoin? | | | | |
| Supports XRP? | | | | |
Show More | ||||
| I Want This Deal See more Coinbase products Compare | Open an account See more Wealthsimple products Compare | I Want This Deal See more Kraken products Compare | Learn More See more VirgoCX products Compare |
FAQ
What is Coinbase?
Coinbase is a cryptocurrency exchange, where you can buy and sell over 200 cryptocurrencies, including popular crypto like Bitcoin and Ethereum along with meme coins. This popular exchange came to Canada in 2023.
Is Coinbase legal in Canada?
Yes, Coinbase officially registered as a Restricted Dealer with the Canadian Securities Administrators (CSA) in 2024 (a year after it was introduced in the country), making it the first international cryptocurrency exchange to operate in Canada.
Does Coinbase use e-transfers?
Yes, you can easily buy, sell, or trade your cryptocurrency on Coinbase using Interac e-Transfers and Electronic Funds Transfers (EFTs). Coinbase also lets you purchase crypto using PayPal.
Can Coinbase be trusted?
Yes, Coinbase is registered with the Canadian Securities Administrators (CSA) and uses bank-level security, along with multi-factor authentication. Reviewers on Trustpilot gave Coinbase a score of 4 out of 5.
Can Canadians withdraw from Coinbase?
Canadians can withdraw funds from the exchange by logging in and navigating to “Wallet Balance.” Select “Withdraw” and choose your preferred payment method and amount. Complete 2-step verification to finalize the transaction and you’re all set.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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