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Hello guys!
Here is my background information so you guys can get the context: I come from Colombia, where Binance is pretty much the de facto exchange, but recently, there are rumors that they are going to the ground. So in Colombia, there are only two more exchanges that are registered which are bitso(mexico) and Buda.com (from Chile) and have better integration with authorities. But because none of them work obviously in Canada and I’m living here, it’s a hard pass for the time being.
Having said that, Coinbase closed down operations in Colombia and pretty much doesn’t accept Colombian ID for registration, and kraken / crypto.com kinda are supported if you buy crypto with a credit card, but they are neither registered or fully supported in Colombia. But I am not fully sold on crypto.com, I don’t even know if they are registered here. Or if they support Quebec (I live in Quebec if that makes any difference, I know it does for banking but don’t know if for crypto too)
Now here, in Canada, I’ve been using shakepay mostly because of their card (I like the 1% cashback on crypto, and 2% bonus cashback, and their shake rewards , mostly because I’m a student so it’s better to use that than my credit card for some cases). As Binance is starting to get weird, I was looking into options to switch of exchange here in Canada. But I’m conflicted as each person has different reasons to use one or the other. I am not rich nor have the financial capacity to buy a ton of crypto, so I’m not going to future trade or constant check which platform has the lower trade fee. But I’m going to use it to transfer funds either with bitcoin/ethereum or USDC, so I’m more interested in the transfer fee.
From what I’ve seen: Newton doesn’t have any fees, but their trade is fee is more compared to NDAX. NDAX has a 5 CAD fee for withdrawal and also for transferring funds out with blockchain that are not high, but also not low (maybe I’m missing something) And kraken has a fee for deposits ? (Couldn’t confirm it) also fee for converting CAD to USD to be able to trade ? (Couldn’t confirm it) and withdrawal? But has low trade fees? I know that I mentioned that I don’t care that much about trade fees, but if kraken (one of the most used ones on the world) and NDAX (most used one in Canada?) have low trade fees and good customer support, then it’s worthy giving them an opportunity, also it’s just better from the get go. For what I’ve found, the decision will be mostly between NDAX and newton, but will give kraken a chance depending on their fees. So I’m looking for mostly a recommendation from you guys, what would you choose ? And which has a better customer support and additional features (I know that newton doesn’t have staking, and they all seem to have the same, but I may be missing something)
Thanks for your help
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- 1 year ago
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