Canada is fortunate to have many cryptocurrency trading platforms. These crypto exchanges are secure, insured, and intuitively designed, insured. Collectively, they offer dozens of different crypto coins to trade in. Investors at every experience level use these cryptocurrency exchanges to fulfill their investment goals.
Choosing the right crypto exchange for your needs will come down to what you see in each platform's unique selling points. A beginner will likely want an easy, straightforward exchange without the bells and whistles. In contrast, the advanced features target more experienced crypto traders.
However, not every crypto exchange will align with the way you want to invest or the risks you want to take. Be sure to explore at least a few possibilities before deciding the option for you.
Here are the best cryptocurrency exchanges in Canada, along with their benefits. This list arranged in alphabetical order.
Bitbuy is a reliable and secure way to buy and sell cryptocurrency. The exchange was initially founded in 2016 as a Canada-only cryptocurrency exchange. All funding is done in CAD, so its deposits come from Canadian banks and local financial institutions. Bitbuy is a secure and regulated platform. Digital assets are carefully stored and covered by an insurance policy, ensuring users do not risk financial loss in case of a security break or hack.
- One of the oldest Bitcoin exchanges in Canada.
- Has traded more than $4 billion in digital assets.
- 99% of crypto assets are secure in cold storage.
- Trading fees are limited to 0.1-0.2% on buying and selling crypto, and 1.5% on fiat deposits and withdrawals.
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Coinberry is the first Canadian cryptocurrency exchange in Canada to offer a 0% fee on all transactions. Based in Toronto, it is an innovative trading platform with a strong reputation in security. Coinberry makes its revenues by adding a variable margin of up to 2.5% on different crypto coins, adjusted for market fluctuations. To fund your Coinberry account, you do so through Interac eTransfer, bank transfer, credit card payments, or through Bitcoin or Ethereum transfer.
- Founded in 2017.
- Insured, OSC & FINTRAC registered, and PIPEDA compliant.
- Supports more than 15 cryptocurrency assets.
- All fiat deposits and withdrawals are free.
Coinbase is based in the US but accessible in Canada. Coinbase is an ancient player in this space, having been founded in 2012. It offers over 100 crypto coins for trade. The future of the platform could be in jeopardy, however. Coinbase has been accused by the Securities Exchange Commission (SEC) of operating illegally as an unregistered securities exchange. It also faced allegations of insider trading and wire fraud. Regardless of the controversy, the platform remains active. It is used by thousands of Canadians every day without issue.
- Supports 100 different cryptocurrency coins.
- Traded on the NASDAQ exchange.
- 98% of digital assets are managed offline in cold storage.
- A complex fee structure can be difficult to navigate, with costs extending up to 3.99% in certain instances.
CoinSmart offers an expanded list of cryptocurrencies with low trading fees between 0.2% and 0.3%.Funding your account can easily be done via your debit card or credit card. Plus, the transfer is instantaneous. The deposit fees for these methods are 6%. You can, however,enjoya 0% fee on deposits coming from bank transfers, bank cheques, or Interac eTransfer. Withdrawals take 1-3 days with a 1% fee. They can be done in either fiat currency or cryptocurrency.
- Founded in 2018.
- Based in Toronto but is accessible in the US and internationally as well.
- Instant verification on new accounts.
- Same-day deposits available.
- 0.2% trading fees and 0% on some deposits and withdrawals.
Gemini is a New York-based cryptocurrency exchange available to users in Canada. Founded by the Winklevoss twins, Gemini offers an easy-to-navigate, sophisticated platform for new and experienced investors. In Canada, you have access to over 50 cryptocurrencies. Almost all digital assets are held in cold storage, upholding the highest security standards. Gemini has extensive fees, up to 1.49% for trading and 3.49% on debit card fiat currency deposits. Despite the costs, the tools and functionality will be well worth it for some.
- Get ten free crypto withdrawals per month.
- Earn interest on stored crypto coin.
- Gain access to Gemini's crypto rewards credit card.
- The Gemini Credit Card offers up to 3% back in Bitcoin or cash on qualifying purchases.
- Beginner-friendly interface.
Kraken is a crypto exchange with a decade of history. It is one of the best cryptocurrency platforms, with no notable hacks or security issues. Although based in the United States, Kraken is available to Canadian users and is a favourite across Canada. In addition to the user-friendly interface, traders have more than 160 crypto coins to buy and sell. Kraken offers accessibility with six fiat currencies, including CAD, USD, EUR, GBP, CHF, and JPY. For newbies and advanced traders, they will find a lot to love about using Kraken to buy and sell crypto.
- Founded in 2013.
- 95% of user deposits are held in cold storage, making this a highly secure crypto exchange.
- Kraken's quick-buy dashboard makes it easy for beginners to start buying and selling.
- Fees range from 0.5% to 1.5%, depending on the type of transaction.
- Upgrade to Kraken Pro for lower trading fees tied to your 30-day trading volume.
MOGO Canada is a platform that allows you to earn cryptocurrency through your everyday routine activities. By using MOGO Canada, you can earn 2% of the value of purchases. This bonus is eligible for groceries, gas, and pharmacy products when you use their platinum credit card. The platform is limited strictly to Bitcoin. Also, trading fees can be somewhat high at 1% of what is bought or sold. The biggest benefit of MOGO is its ability to keep the buying and selling of crypto very simple and secure.
- 95% of digital assets are held in cold storage.
- The platform boasts more than 1.6 million Canadian members.
- Regulated by FINTRAC and publicly traded on both TSX and NASDAQ.
- An opportune way to invest in Bitcoin with no annual fees.
- Monitor your Bitcoin investment portfolio in real time.
NDAX is a Canadian cryptocurrency exchange based in Alberta. Also known as the National Digital Asset Exchange, NDAX allows you to buy and sell more than a dozen of the world's best cryptocurrencies. NDAX is known as a beginner's platform. It is geared towards introducing new investors to the world of Bitcoin, Ethereum, Dogecoin, and general crypto trading. NDAX has several important features, including instant deposits and withdrawals in Canadian currency. It also offers low trading fees. Plus, there are many ways to manage one's portfolio in real-time through the NDAX smartphone app.
- Instant ID verification.
- Trading fees are 0.2% on buy and sell trades.
- All fiat and crypto deposits are free. A flat fee applies to all fiat withdrawals.
- Partnered with Ledger Vault to maximize digital asset security.
- 24/7 customer support.
Netcoins is a Canadian crypto exchange founded in 2014. It originally was a Bitcoin ATM company. These days, Netcoins has become one of the best crypto exchanges in Canada. You can make deposits in both CAD and USD, either via Interac eTransfer, wire transfer, or through online banking. On Netcoins, you can browse a dozen cryptocurrencies to buy and sell. For beginners wanting simple functionality, such as one-click trades and limit orders, Netcoins is an excellent choice. For more advanced crypto investors, they won't find the advanced features they want from this platform.
- All deposits and withdrawals are free.
- Fees for withdrawing crypto to a private wallet varies.
- Trading fees are a flat 0.5% per trade.
- Netcoins also offers a VISA prepaid credit card, allowing you to earn 3% cash back in Bitcoin with every purchase.
Shakepay offers an easy-to-navigate crypto trading interface, making it easy to buy and sell cryptocurrency at a beginner level. Shakepay is one of the few platforms that do not take any commission on transactions. That's because transactions do not occur between users. Instead, they are done directly with the platform. Shakepay adds a few pennies to the purchase price of cryptocurrencies. It then removes a few cents off the selling price to generate revenue. Fund your Shakepay account through either wire bank transfers or instant Interac eTransfers.
- Very beginner-friendly.
- Montreal-based and launched in 2015.
- Serves more than 600,000 Canadians annually in crypto trading.
- Shakepay's crypto selection is limited to strictly Bitcoin and Ethereum.
- Offers a crypto VISA credit card where you can receive cashback in Bitcoin.
VirgoCX is an excellent Canadian crypto exchange built for investors at every experience level. It uses a low-fee model to develop its community. Across VirgoCX, you will find over 44 coins, including various stablecoins, altcoins, and Metaverse coins. This exchange is a near-no-fee platform with a 0.95% trading fee. As a bonus, VirgoCX also allows withdrawals in CAD, USD, and various cryptocurrencies.
- Founded in 2018.
- No deposit or withdrawal fees.
- Ideal for beginner traders looking to onboard into the world of crypto.
- In addition to stablecoins, altcoins, and Metaverse coins, you can access an NFT marketplace through VirgoCX.
Wealthsimple launched in 2020. Toronto-based, Wealthsimple offers over 50 cryptocurrencies and counting. Opening an account is easy, and the platform provides no commissions on withdrawals and deposits. When buying and selling crypto, fees are average to high, sometimes climbing as high as 2%. Wealthsimple does not have a way to transfer your crypto coins to an external digital portfolio.
- Free fiat deposits and withdrawals.
- Only CAD is supported by the platform.
- Uses Gemini to keep all crypto assets in cold storage and has an additional partnership with Coincover to ensure all coins are safe.
- Wealthsimple also allows a user to trade stocks with no commission.
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