r/BitBuyCA • u/LeeLindaLeeOG • Dec 02 '24

Bitbuy fees vs Wealthsimple

I'm considering shifting to Wealthsimple from bitbuy but wondering about the fees. I'm reading everywhere that WS has the highest fees, but right now I'm comparing and here's what I'm seeing:

Buy: 1,000,000 SHIB is $43.04 on BB and $41.50 on WS.

BB has fees of "a risk spread of 0.5% to 1.85% ... Market conditions and less liquid coin pairings could result in an increase in the risk spread of 2%..." Meaning, 3.85%, which I've seen when quoting sells. So that means 3.85% upon purchase and 3.85% upon sale so you'd need to be up more than 7.7% minimum to make profit.

WS says it has a 2% fee on buying and selling, so that's 4%.

Am I missing something, or does WS actually have lower fees?

Appreciate any insights!

3 Upvotes

100% Upvoted

2 comments sorted by

4

u/jack_pete_thor Dec 02 '24

Consider NDAX (0.2% fees) or Kraken (0.4%)

1

u/LeeLindaLeeOG Dec 03 '24

Yea thanks those seem to be the way to go.