Cryptocurrency is one of the hottest topics in the world right now. More and more people are interested in buying, selling, and trading digital assets like Bitcoin, Ethereum, and Dogecoin.
But where can you do that in Canada? What are the best platforms to use? How do you choose the one that meets your expectations and goals?
In this article, we will answer these questions and more. We will review some of the best crypto exchanges Canada and compare their features, fees, security, and customer service.
Comparison between Top Canada’s Crypto Apps & Platforms
| Exchange | Platform Fees | Supported Cryptocurrencies | FINTRAC Regulated | Overall Ratings |
|---|---|---|---|---|
| Bitget | 0.04 – 0.1% | 700+ | No | 4.8/5 |
| Kucoin | 0.06 – 0.1% | 800+ | No | 4.7/5 |
| Bitbuy | 0.15-0.25% | Bitcoin, Ethereum, +15 more | Yes | 4.5/5 |
| Coinberry | 2% | 25+ | Yes | 4.1/5 |
| Kraken | 0.16-0.26% | 220+ | Yes | 4/5 |
| Coinsmart | 0.3% | 16+ | Yes | 3.5/5 |
| Paxful | 1% | 10+ | No | 3/5 |
What are the best Crypto Exchanges in Canada?
Choosing the right crypto exchange can be challenging, as there are many factors to consider, such as fees, security, coin selection, customer support, and ease of use.
To help you find the best crypto exchange for your needs, we have reviewed some of the most popular and reputable platforms in Canada.
Here are our top picks:
1. Bitget: Overall Best Crypto Exchange Canada
- Trading Fees: 0.1% for both Maker and Taker
- Deposit Methods: VISA, Mastercard, Apple Pay, Google Pay, etc.
- Supported Coins: 700+
- Regulated or Licensed: MSB, FinCEN, VASP, etc.
Bitget is a top choice for Canadian crypto traders, as it offers many crypto pairs with low fees and high liquidity. You can trade 700+ popular cryptocurrencies like Bitcoin, Ethereum, BGB, USDT, USDC, etc. on its spot market or futures market.
You can also join Bitget Launchpad and Launchpool, where you can discover and support new and promising crypto projects and get rewards by staking BGB or other tokens.
BGB is Bitget’s own token that was launched in 2021. BGB gives you many benefits such as lower transaction fees, social tokens for interacting with star traders and followers, exclusive airdrops, etc.
It is the best copy trading platform in the crypto world, with 2M+ users and over 10 billion dollars in daily volume.
2. Kucoin: No-KYC Crypto Exchange Canada
- Trading Fees: 0.06 – 0.1% for both Maker and Taker
- CAD Deposit Methods: Not available
- Supported Coins: 800+
- Regulated or Licensed: Not Licensed
If you want to trade Bitcoin, Ethereum, and over 800 other cryptos, you can use Kucoin. It is a global crypto platform with more than 8 million users. Kucoin has many features for crypto traders, such as futures, margin, lending, staking, and advanced orders.
You cannot buy crypto with Canadian dollars (CAD) on Kucoin. You need to buy USDT or another crypto first, then swap it for the coin you want on Kucoin. You can buy USDT with a bank transfer or a credit card on Kucoin, or get it from another platform and send it to Kucoin.
Kucoin charges low fees for trading. You pay 0.1% or less, depending on how much you trade and if you own KCS. KCS is Kucoin’s own token. If you own KCS, you get 20% off on fees and also get dividends from Kucoin’s income. Kucoin does not charge anything for depositing crypto, but it charges different fees for withdrawing different coins.
Kucoin is not regulated by the Canadian government. You can join with your email only and trade without revealing your identity. But this also means that Kucoin is not allowed in Ontario. The OSC fined Kucoin $2 million for breaking the OSC’s rules. You can still use Kucoin in other parts of Canada, but you should know the risks of using a platform that is not regulated.
3. Bitbuy: Best regulated crypto exchange in Canada
- Trading Fees: 0.15% maker and 0.25% Taker
- CAD Deposit Methods: Interac e-Transfer and Wire transfer
- Supported Coins: 23+
- Regulated or Licensed: FINTRAC and OSC
Bitbuy is a crypto platform in Canada that started in Toronto in 2016. It is one of the best and oldest crypto platforms in Canada, and it has many products and services for Canadians who want to buy, sell, trade, and stake crypto.
Some of the products and services that Bitbuy has are:
- Express Trade: This is a simple way for beginners to buy and sell 17 different cryptos in Canadian dollars. You can use Interac e-Transfers to fund your account fast and start trading right away.
- Pro Trade: It is a feature for more advanced users who want to see live order books, advanced charts by TradingView, and fast automated trading with the Bitbuy API. You can also pay lower trading fees based on your trading volume.
- Staking: This is a service that lets you earn passive income by locking up some of your cryptos and getting rewards. You can stake Ethereum, Solana, Polygon, and Polkadot on Bitbuy and earn up to 13.92% in rewards.
- Private Wealth: For rich people who want to trade $20,000 CAD and more. You can get the best crypto rates with your own personal Account Manager who will help you through the process.
- Corporate Solutions: This service is for businesses that want to add crypto to their balance sheet. You can join the 1,500+ businesses that trust Bitbuy Corporate Solutions to help them with crypto custody, liquidity, OTC trading, and more.
Bitbuy is a safe and trusted platform that has been approved by the Ontario Securities Commission and the Canadian Securities Administrators as the first Canadian registered marketplace for crypto assets.
It is also registered with FINTRAC as a money services business. Bitbuy keeps 90% of your crypto in cold storage and covers it with a comprehensive insurance policy.
4. Coinberry: Popular Canadian Cryptocurrency Exchange
- Trading Fees: 2% for both maker and Taker
- CAD Deposit Methods: Interac e-Transfer and Wire transfer (1.5% CAD withdrawal fees)
- Supported Coins: 25+
- Regulated or Licensed: FINTRAC
Coinberry is a Toronto-based tech company that has over 220K customers and $1 billion in crypto trading. It is also the crypto trading platform in Canada that is registered with FINTRAC, the financial watchdog that ensures compliance and security. It has 0% deposit fees, low withdrawal fees, live support, and a wide range of coins.
Coinberry has many features that make it the best crypto exchange in Canada. These include:
- Coinberry Pay: A service that lets businesses and charities accept crypto as payment or donation.
- Coinberry Savings: A feature that lets you earn up to 8.5% interest on your crypto by lending it to reliable platforms.
- Coinberry Referrals: A program that gives you $20 for every friend you invite to Coinberry who trades at least $50 of crypto.
- Coinberry Academy: A learning center that teaches you about crypto, blockchain, NFTs, metaverse, and more.
5. Kraken Pro: Top-Rated Bitcoin Trading Platform in Canada
- Trading Fees: 0.16% maker and 0.26% Taker
- Deposit Methods: ACH, Apple Pay, or Google Pay
- Supported Coins: 220+
- Regulated or Licensed: Money Services Business with FINTRAC
If you are a Canadian trader looking for an advanced crypto platform, you should check out Kraken Pro. It is part of the Kraken exchange, which has been in the crypto business for over 10 years and has a great reputation for security and service.
With Kraken Pro, you can trade, stake, or invest in more than 220 crypto and fiat currencies. You also get access to advanced tools and features, such as:
- Charts, indicators, and market comparisons to analyze trends
- Different order types and options to manage trades
- Live order books and trades to monitor the action
- Flexible staking terms for 14+ assets, with rewards up to twice a week
- Portfolio tracking and reward calculation to see your growth
Kraken has agreed to follow the new investor protections and aims for restricted dealer registration in Canada.
6. Coinsmart: Low Fees Canada’s Crypto Exchange
- Trading Fees: 0.3%
- CAD Deposit Methods: Interac e-Transfer, bank transfer, and Credit cards (1% Fees on withdrawal)
- Supported Coins: 16+
- Regulated or Licensed: MSB by FINTRAC and Estonia’s FIU
Coinsmart is a Canadian crypto exchange that started in 2017. It makes crypto easy for everyone, no matter how much they know about it.
The platform has many cryptocurrencies, like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Cardano, Stellar, EOS, Ripple, and Tether USD. It also has many features, like low fees, fast funding and withdrawals, good customer service, and security.
Coinsmart follows the rules of FINTRAC and keeps your money and coins safe. It also helps you learn more about crypto and do your taxes with CRA.
Some key features are:
- Smart Guarantee: You can get your money and coins fast. Your deposits are in your account on the same day. Your withdrawals are done in 5 business days. Your account is verified the same day (or right away).
- Smart Wallet: You can store and manage your coins safely and conveniently. Coinsmart uses Bitgo and Fireblocks to protect your coins. It keeps most of your coins offline.
- Smart Tax: You can do your taxes with CRA easily. It makes tax reports for you based on your trades.
- CS Premium: You can get more benefits if you trade a lot. You can pay less fees, have higher limits, get faster service and talk to a personal SmartRep.
7. Paxful: P2P Crypto Exchange Canada
- Trading Fees: No Fees
- CAD Deposit Methods: Bank Transfer, Cards (1% selling fees)
- Supported Coins: 10+ (mostly BTC, ETH, USDT, etc.)
- Regulated or Licensed: Not Regulated
Paxful is a P2P platform where you can trade Bitcoin with people from all over the world using different payment methods, such as PayPal, Western Union, bank transfer, gift cards, and more.
You can use Paxful in Canada and exchange your Canadian Dollars (CAD) for BTC safely and easily. It protects your money with two-factor authentication (2FA) and a P2P marketplace that follows US regulations.
Paxful also gives you a free Bitcoin wallet, a gift card hub, a vendor program, and a built-with-Bitcoin initiative that helps social causes around the world. The exchange wants to make it simple, fair, and secure for working people to trade the value of their work.
How to Choose the Best Crypto Exchange in Canada?
Different crypto exchanges in Canada suit different people. You need to think about what you want from a platform.
Here are some things to look for:
- Rules and safety: Pick a platform that follows Canadian laws and keeps your money and data safe. See if they are registered with FINTRAC or OSC. See if they use cold storage, encryption, and 2-factor authentication.
- Fees and limits: Fees can change based on how you pay, how much you trade, and what coins you trade. Some platforms give you discounts or rewards for using their tokens or holding some crypto. Limits can change based on how you verify yourself, how you pay, and what coins you trade.
- Coins and liquidity: Choose a platform that has many coins and tokens, especially if you like altcoins or DeFi projects. Liquidity means how easy it is to buy or sell crypto without changing the price. More liquidity means faster and cheaper trades, lower spreads, and less slippage.
- Ease of use and support: Pick a platform that is easy to use, has a mobile app, and has a good support team. A good platform should be easy to find your way around, offer different ways to trade, teach you about crypto, and have live chat or phone support.
How to trade Cryptocurrency in Canada?
- Choose a reputable Canadian cryptocurrency exchange like Newton, Shakepay, Bitbuy, Coinberry, or Kraken.
- Sign up on the exchange’s website and verify your account by providing the necessary information and identity verification documents.
- Enable two-factor authentication for added security.
- Deposit funds into your exchange account using Interac e-Transfer, wire transfer, or direct bank transfer.
- Select the digital asset you want to buy from the available options.
- Decide on the amount you want to purchase and review the current price.
- Place an order by choosing between market orders (buy at the current price) or limit orders (buy at a specific price you set).
- Double-check the details and confirm your order.
- Once the order is completed, the cryptocurrency will appear in your exchange account’s wallet.
- For enhanced security, consider moving your funds to a more secure wallet like a hardware wallet.
Final Thoughts: Which Exchange Should You Choose?
As you can see, there are many factors to consider when looking for the best crypto exchange in Canada. You need to weigh the pros and cons of each platform and decide what matters most to you.
No matter what you choose, make sure you do your research, follow the best practices, and stay safe online.
FAQs on Crypto Exchanges Canada
What is the best XRP Exchange in Canada?
XRP is a digital currency that works on the Ripple network. It helps people send money across the world fast and cheap. You can buy and sell XRP in Canada on many crypto platforms, but some of the best ones are Binance, Crypto.com, Kraken Pro, and Bitget.
What is the best decentralized exchange in Canada?
DEXs have benefits such as lower fees, higher security, and more privacy than centralized exchanges. But they also have drawbacks such as lower liquidity, slower transactions, and less user-friendly interfaces.
Some of the best DEXs that you can use in Canada are Uniswap for the Ethereum blockchain, Pancakeswap for BEP-20, TraderJOE for Avalanche Ecosystem, and Camelot DEX for Arbitrum.
Is crypto exchange legal in Canada?
Yes, cryptocurrency exchanges are legal in Canada. But there are some rules and regulations that apply to crypto businesses and users in Canada.
Crypto platforms and brokers that work in Canada must register as Money Service Businesses (MSBs) with FINTRAC and follow anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Is crypto taxable in Canada?
According to the CRA, Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain. This means that you have to report any profits or losses from trading or selling cryptocurrencies on your tax return and pay taxes accordingly.
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