Best Crypto Exchange Canada

Bitbuy

Bitbuy is the best crypto exchange Canada has to offer. This top crypto exchange celebrates 350,000 registered users and over $4 billion dollars in trade. The leading platform allows investors to trade the 15 most popular cryptocurrencies in the market. Founded in 2016, this Canadian crypto heavyweight has experienced exponential growth over the past decade. Bitbuy is considered one of the largest crypto exchanges in Canada.

The company had an exciting development in 2021 when the Ontario Securities Commission (OSC) officially approved its registration. Bitbuy became the first registered marketplace and crypto brokerage in Canada, a momentous breakthrough for the industry.

Bitbuy review

Bitbuy is the best crypto exchange in Canada, attracting new and experienced investors alike. Many users review Bitbuy positively because of the company’s varied offerings, low exchange fees, and organized interface. This trading platform is well-known for these unique features:

• Over 350,000 registered users in Canada and worldwide.
• Offers the 15 top cryptocurrencies.
• Impressively low charges at 0.2% per transaction.

In 2021, the Deloitte Technology Fast 50™ program awarded Bitbuy as one of Canada’s top 50 fastest-growing technology companies. This remarkable distinction is based on the company’s rapid expansion in recent years, including 3,379% in revenue growth between 2017 to 2020. Bitbuy is the highest Canadian crypto exchange ranked on the list.

Bitbuy fees

Bitbuy has outstandingly low trading fees, charging only 0.2% for all buy and sell transactions. If you use the Bitbuy’s Pro Trade platform, the trading fees can go as low as 0.1%. These competitive rates are among the most favourable in the Canadian market. Bitbuy provides the best way to buy crypto in Canada.

Bitbuy accepts Interac e-Transfer deposits and withdrawals with a 1.5% fee. The processing time is nearly instant. The company also takes bank wires with a 0.5% deposit fee and 1% withdrawal fee. The processing time is estimated between 2 to 3 business days.

Is Bitbuy legit?

Yes, Bitbuy is a trusted Canadian crypto exchange. The Toronto-based company has built a reputation of credibility and reliability since its origins in 2016. Bitbuy is well-known for its mobile app and easily accessible Pro Trade platform.

Bitbuy’s trustworthiness has been documented across major Canadian news outlets. The company was included in The Globe and Mail’s annual Canada’s Top Growing Companies list, coming in 12th position for 2021.

Is Bitbuy safe?

Yes, Bitbuy is the safest crypto exchange to use in Canada. Their trading platform is powered by the best cloud security solutions, paired with world-class disaster recovery systems. This leading company prioritizes the confidentiality of their users with a privately maintained codebase.

Bitbuy currencies

Bitbuy offers the 15 most popular digital currencies in the crypto market, including popular names like Bitcoin, Ethereum, and Litecoin. Their specialized crypto exchange should fulfill the crypto exchange objectives for many expert and casual investors.

The full list of Bitbuy currencies include:

Coinberry

Coinberry is a small and proudly Canadian crypto exchange based in Toronto, Ontario. The company was founded in 2017. It allows users to trade Bitcoin, Ethereum, Litecoin, among dozens of other altcoins and digital currencies. Currently, Coinberry only serves Canadian clients on its crypto exchange.

In 2021, Coinberry became the second crypto dealer in Canada to obtain regulatory approval by the OSC. This Torontonian company is backed by support from local Canadian municipalities. It has the distinction of partnering with the Town of Innisfil and the City of Richmond Hill. Earlier in 2019, Innisfil made national headlines for being the first Canadian town to embrace cryptocurrency.

Coinberry review

Coinberry is known for its strong Canadian roots. Designed exclusively for users in Canada, this crypto exchange only supports the Canadian dollar (CAD). While Coinberry is not the biggest crypto exchange on the list, it comes with several advantages like fast processing times.

Other Coinberry features include:

• Over two dozens of popular cryptocurrencies (only 3 available for withdrawals)
• All transactions are conducted with the Canadian dollar (CAD).
• Partnerships with small local Canadian municipalities, Innisfil and Richmond Hill.

Unfortunately, users cannot withdraw most cryptocurrencies from the exchange other than Bitcoin, Ethereum, and Litecoin. However, you can buy and sell crypto from over two dozens of popular currencies. Coinberry has a mobile app, which comes with basic crypto trading features that investors might find useful.

Coinberry fees

Coinberry has a dynamic trading fee structure, determined by the time of your crypto trade. Users may experience trading fees in the range of 0% to 2.5%. While Coinberry has no deposit fees, a $50 trading deposit is required with each transaction.

The withdrawal fees are 0.0005% for Bitcoin, 0.0063% for Ethereum, and 0.02% for Litecoin. Coinberry does not support withdrawals for other popular cryptocurrencies.

Is Coinberry safe?

Yes, Coinberry is a relatively safe crypto exchange for Canadians to use. The company has received official regulatory approval from the Ontario Securities Commission (OSC) in 2021. The small Canadian crypto exchange is backed by robust encryption technology and the best security systems.

The company is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It is also compliant with the standards of Personal Information Protection and Electronic Documents Act (PIPEDA).

Coinberry exchange

Coinberry allows you to withdraw from Bitcoin, Ethereum, and Litecoin in Canadian currency (CAD). It also offers buy and sell support for dozens of popular crypto options, including Stellar, Dogecoin, Cardano, Polkadot, and Chainlink.

Here is a list of the cryptocurrency options on the Coinberry platform:

Binance Canada

Binance is the largest crypto exchange in the world, including a prominent portion of Canadian traders. The company offers a versatile offering of over 500 crypto assets for trade. Their selection contains the major cryptocurrencies and a vast series of altcoins. You may discover some newer and relatively unknown digital currencies on this trading platform.

Founded in 2017, Binance reported over 28.6 million users in 2021. Initially launched in Hong Kong, the trading platform relocated its headquarters to the Cayman Islands. In July 2017, Binance launched its own currency called Binance Coin (BNB), which has grown into one of the biggest names in the crypto space.

Binance review

As one of the biggest crypto exchanges, Binance is a familiar name with nearly every crypto user. The company’s rapid and significant growth reflects its success. Impressively, it declared an annual exchange volume of $7.7 trillion USD in 2021. The platform has appealed to users based on these best features:

• Over 28.6 million international users.
• Offers over 500 versatile crypto assets.
• Low crypto exchange trading fees at 0.1%.

Binance’s speedy expansion is a turbulent journey, met with numerous investigations and allegations. Many governments have banned the use of Binance in their countries, such as Italy. Exchanges in Japan, Singapore, and Hong Kong have also issued warnings about Binance’s practices.

Is Binance legal in Canada?

In Canada, the business is met with heavy scrutiny, making controversial headlines near the end of 2021. After regulatory assessments, the Ontario Securities Commission (OSC) has declared Binance is unauthorized to offer crypto trading in the province. Since its registration remains unapproved in Ontario, some Canadians may not be able to use Binance.

As Canada plans to toughen its crypto exchange regulations, Binance faces an uphill battle in the country. Despite the legal challenges, the popular trading platform still appeals to many Canadian crypto buyers and sellers.

Binance fees

Binance has a low crypto exchange fee at 0.1% per transaction. In addition, there is a 0.5% fee on Instant Buy and Sell trades. However, Binance Coin users can have a further discount applied to their trading fees.

Binance’s debit card transactions will incur either fees of $10 or 3.5%. Wire transfers will have fees of $15. Overall, Binance is one of the lowest-fee crypto exchanges in Canada, outmatching many alternatives.

Is Binance safe?

Binance is a safe crypto exchange used by many investors worldwide. The platform is supported by advanced servers and sophisticated security technology. However, the company has faces continuous scrutiny from regulators, governments, and financial institutions.

Binance is currently undergoing money laundering investigations in the United States. There are similar allegations in the UK. The future of the business trajectory may seem uncertain for risk-averse investors.

Binance crypto

You will find a versatile selection available in the Binance crypto exchange. The trading platform offers over 500 crypto assets for users. The company’s impressive portfolio includes its signature currency, Binance Coin (BNB). It also offers popular products like Bitcoin, Ethereum, Cardano, and Shiba Inu.

Here is a list of the Binance crypto offerings:

Coinbase Canada

Coinbase is one of the best crypto exchanges for Canada. Its simple and elegant interface is packed with user-friendly features, designed ideally for cryptocurrency beginners. Founded in 2012, Coinbase has over a decade of industry experience, generating over 73 million users globally.

Headquartered in California, Coinbase is an American company that appeals to many Canadians north of the border. This crypto exchange has experienced astonishing growth, increasing its monthly active users from 2.8 million (2020) to 8.8 million (2021) over one year. Coinbase offers over 100 currencies for trading.

While Coinbase did not make profit in 2018 or 2019, it generated excellent momentum in the next two years. The company reported a healthy $322 million yearly profit by the end of 2020.

Coinbase review

Coinbase is one of the largest crypto exchanges internationally, with soaring popularity among Canadians. Its fees are notably higher than other crypto exchanges. However, many users trust the credible reputation of this experienced trading platform.

The best features of Coinbase include:

• Over 73 million verified users across 100+ countries.
• 100+ cryptocurrencies available for trade.
• Offers crypto insurance compensation in case Coinbase gets hacked.

Coinbase is a good crypto exchange for those new to cryptocurrency, thanks to its intuitive and user-friendly interface. Some beginners continue to stick with Coinbase after familiarizing themselves with the basics. Meanwhile, others migrate to the other top crypto exchanges with lower fees.

Coinbase Canada review

Coinbase Canada works similarly to its American counterpart nearly identical features. The mobile app is also available to Canadians. Unfortunately, Coinbase does not work with Canadian banks. This American company cannot provide support for local bank accounts as payment methods.

Instead, Canadian traders are limited to the following payment options on Coinbase:

• Debit cards can be used to buy crypto.
• PayPal is used to sell crypto.

In addition, Coinbase does not support prepaid cards in Canada. Similarly, it does not accept other card payments without a billing address.

Coinbase fees

Coinbase imposes a 0.5% fee per transaction, although the rates may vary based on the traded amount. Discounts are available for those who use Coinbase Pro, its professional platform with advanced features. Coinbase Pro has a 3.99% fee per deposit made with debit cards. PayPal fees are placed at 2.5%. These fees are considered generally higher than other crypto exchanges in Canada.

Coinbase offers a free cryptocurrency wallet as an incentive for beginners. There are no transfer fees if you move crypto currencies between different Coinbase wallets.

Coinbase coins

You can trade over 100 digital coins on the Coinbase platform. Some recognizable names include Bitcoin, Ethereum, Cardano, and Solana. Promising digital currencies like Avalanche, Polkadot, Polygon, and Stellar Lumens are also included.

This list contains the top 10 Coinbase coins available:

CoinSmart

CoinSmart is a solid crypto exchange in Canada, ideal for beginners and casual cryptocurrency hobbyists. Launched in 2018, this growing company offers a steady portfolio with the 16 top cryptocurrencies. CoinSmart is headquartered Toronto, Ontario and founded by two Canadian crypto enthusiasts.

Speed is a priority for CoinSmart. This trading platform has a fast verification process for new accounts, allowing novices to jump in and start trading right away. The Canadian crypto exchange also accepts same-day deposits. CoinSmart currently accepts deposits in Canadian (CAD), American (USD) and Euro (EUR) currencies.

CoinSmart review

CoinSmart is a top Canadian crypto exchange for speedy transactions. The crypto market is dynamic and constantly changing, so CoinSmart’s systems are streamlined to ensure users never miss a moment of action. New account users will go through a quick verification process, usually taking a day or less. Traders can also make a same-day deposit of funds on CoinSmart.

CoinSmart users can enjoy the following features on this Canadian crypto exchange:

• Offers the top 16 cryptocurrencies for trading.
• Serves Canada, and other countries like the United Kingdom, France, and Germany.
• Has 0.2% trading fees, 1% withdrawal fees, and 1.5% e-Transfer fees.

CoinSmart’s easy orientation process has made it an appealing platform for cryptocurrency beginners. However, the CoinSmart app has received mixed reviews online, lacking quality-of-life features found among the best Canadian crypto exchanges.

Fortunately, this growing company is developing exciting new features to compete with the largest crypto exchanges. Overall, CoinSmart is a promising company brimming with potential.

CoinSmart fees

CoinSmart has a complex fee structure to accommodate the dynamic scenarios in the crypto market. In Canada, its trading fees are 0.20% for single trades and 0.30% for double trades.

CoinSmart offers a range of withdrawal and deposit fees, which varies based on the funding method. The costs for bank wires and electronic funds transfer include a 1% withdrawal fee, followed by up to 5 days of processing. Deposit fees for Interac e-Transfer are 1.5% fee if you trade below $2000. Fees may add up to 6% for credit and debit card funding.

CoinSmart crypto

CoinSmart currently offers an exciting portfolio with 16 of the best cryptocurrencies in the market. It includes established digital currencies like Bitcoin, Ethereum, and Litecoin. Other options like Polkadot, Chainlink, Solana, and Cardano are also available on the CoinSmart crypto exchange.

Here is a list of the top 10 CoinSmart crypto offerings:

Kraken Canada

Kraken is founded in 2011 with over a decade of experience in the crypto exchange industry. This American crypto exchange is based in San Francisco, making trades available for Canadians and investors globally. Over the years, Kraken has gained a reputation for its suite of advanced cryptocurrency tools.

Kraken is available in two different formats. The basic Kraken crypto exchange is ideal for beginners and casual investors to learn the ropes about the industry. The Kraken Pro is a sophisticated product with detailed insights and quantitative analysis into each crypto asset. Kraken currently boasts over 110 different cryptocurrencies in its offerings.

Kraken review

Kraken is one of the best crypto exchanges for intermediate and advanced investors in Canada. The platform comes with a complex suite of trading functionalities, which can potentially overwhelm beginners. However, those familiar with crypto exchanges will enjoy these features offered by Kraken:

• Over 110 cryptocurrencies in its growing portfolio.
• Offers advanced trading tools and low fees on Kraken Pro.
• Ideal for high-volume investors to maximize their trades.

Kraken offers its crypto exchange features to global users across many countries. Canadians can enjoy many of Kraken’s features with a few restrictions. Dozens of Kraken’s cryptocurrency offerings cannot be deposited or traded by investors in Canada. In addition, Ontario clients are restricted from trading on Kraken Futures.

The Instant Buy feature is available on Kraken, allowing users to trade crypto directly and conveniently. Each Instant Buy transaction comes with at a 1.5% fee. Generally, Kraken’s trading fees are slightly higher than the industry standard, especially if you don’t use Kraken Pro.

Kraken fees

Kraken’s fees are based on your 30-day spot trading history. The spot trading fees begin at 0.26% for takers and 0.16% for traders. However, the costs decrease as you increase your trading volume. If you trade over $10 million within 30 days, the fees go as low as 0.1% for traders and 0% for makers.

In addition, Kraken offers futures trading fees at 0.05% for takers and 0.02% for makers. These costs will decrease with a higher volume in the past 30 days, like the spot trading fees. Please note that investors in Ontario cannot do futures trading on Kraken.

Kraken crypto

There are over 110 offerings in the Kraken crypto portfolio. Kraken’s cryptocurrencies include well-known names like Bitcoin and Ethereum. It also offers promising crypto coins like Tether, Ripple, Solana and Cardano.

Here are some of the crypto offerings available for trading on Kraken:

Mogo Crypto

Mogo is a Canadian fintech business founded in 2003. The company specializes in various financial management products and services, such as credit score monitoring. In recent years, Mogo also joined the crypto exchange market, using its established reputation to navigate cryptocurrency trading.

Unlike the best Canadian crypto exchanges, Mogo does not offer many diverse crypto offerings. Instead, this platform solely specializes in Bitcoin trading. The company provides user-friendly processes and tutorials aimed at crypto beginners who want to get started. Mogo is proud to help users buy and sell Bitcoin for the first time.

Mogo crypto review

Mogo’s function is similar to a crypto broker for beginners rather than a full-fledged crypto exchange. The company’s primary focus is on Bitcoin buying and selling, offering no other crypto asset for trade. Mogo is an expert in Bitcoin, offering competitive fees that rival the top Canadian crypto exchanges.

Mogo’s crypto offerings include:

• Specializes in Bitcoin buying and selling.
• Intuitive processes and interface for cryptocurrency beginners.
• Environmentally-friendly approach to buying Bitcoin.

Aimed at cryptocurrency beginners, Mogo is an ideal platform for casual investors to get started. Bitcoin is one of the most trusted cryptocurrencies, a perfect fit for Mogo’s decades of financial industry experience. Crypto investors will feel confident in Mogo’s longstanding credibility and reputation as they use their Bitcoin buying and selling processes.

Mogo’s cryptocurrency offerings are best served if you use other financial services from the company. This fintech company celebrates over 1.6 million members in 2022. Please note that Mogo’s crypto exchange services are not available in the province of Quebec.

Mogo crypto fees

Mogo employs a simple and elegant fee structure that beginners will understand. Its trading fees are 1% every time you buy and sell Bitcoin with Mogo. While these trading fees are higher than the industry standard, the processes are quick and simple. You will also incur additional fees levied by its exchange partner.

However, there are no fees for holding your Bitcoin with Mogo, reassuring for those who invest sparsely. Unfortunately, your digital assets in Mogo’s wallet cannot be transferred to your own personal wallet.

Mogo Bitcoin

Mogo only offers one type of crypto asset trading on its platform. It specializes in buying and selling Bitcoin, the most established cryptocurrency in the world. Mogo imposes a 1% trading fee on each transaction.

NDAX

NDAX stands for National Digital Asset Exchange. This top Canadian crypto exchange was established in 2018. It is a proud Albertan business, headquartered in the heart of Calgary. NDAX’s crypto exchange has become popular among Canadians for its fast, safe, and reliable trading processes.

NDAX is open to traders across the country with a quick orientation process. New users can start trading right away thanks to the Instant ID verification system. There are over two dozens of cryptocurrencies offered by NDAX. This crypto exchange is compliant with the regulations of Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

NDAX review

NDAX is well-known for its versatile crypto assets, offering dozens of different digital currencies for trade. The crypto exchange is only available in Canada, where all trading is done in Canadian currency. NDAX appeals to beginner and expert investors with these following features:

• Over two dozens of digital currencies offered in crypto portfolio.
• Low trading fees at 0.2% per transaction.
• Instant ID verification process for new users.

NDAX’s withdrawal fees are on the high side. Those who do lots of frequent trading may have reservations about the $25 withdrawal fee for using wire transfer. The fixed $25 withdrawal fee also applies to direct bank deposits, a significantly higher cost compared to the best crypto exchanges in Canada.

However, investors may be drawn to the attractive 0.2% trading fees, which are competitive by industry standards. NDAX also offers speedy processing times, allowing fast crypto trades with minimal interruptions or delays.

NDAX fees

NDAX offers a fixed 0.2% trading fee, an attractive option compared to many crypto exchanges with higher fees. In addition, NDAX offers free deposits with no fees charged.

However, this trading platform imposes a $25 CAD fixed fee for each bank withdrawal, which quickly adds up. Likewise, the $25 withdrawal fee is also applied on wire transfers. These fixed fees will still stand even if you withdraw an amount under $25.

NDAX crypto

There are more than two dozens of crypto assets offered in NDAX’s diverse portfolio. You will find top cryptocurrencies such as Bitcoin or Ethereum on this crypto exchange. Additionally, other popular offerings like Shiba Inu, Dogecoin, Avalanche, and Polkadot are also found on NDAX.

Here is a sample of the NDAX crypto portfolio:

Netcoins

Netcoins is one of the top crypto exchanges in Canada. This Vancouver-based company was founded in 2014, one of the oldest Canadian crypto establishments. Despite its age, Netcoins remains relevant in the crypto market today, appealing to investors across the country.

Netcoins offers eight different cryptocurrencies on its trading platform. Like many of the best Canadian crypto exchanges, Netcoins is registered as a Money Services Business (MBS). This licensed company is also compliant with the FINTRAC standards.

Netcoins review

Backed by years of experience, Netcoins is a steady and stable Canadian crypto exchange. The simple interface is elegant in its sleek minimalism. This trading platform focuses on the practical basics of cryptocurrency without getting distracted by unnecessary details.

Netcoins offers these benefits in its crypto exchange platform:

• Up to 8 different cryptocurrencies available for trade.
• One of Canada’s oldest crypto exchanges in operation.
• Free fiat withdrawal and deposit fees.

Netcoins is all about reliability and practicality. It doesn’t bother with memecoins or volatile crypto assets that may lose its lustre in a few years. Instead, it focuses on credible currencies with long-term prospected growth.

Netcoins only operates in Canada, not appealing to overseas investors. This trading platform is easy and effective to use with helpful tutorials to guide beginners on their investment journeys. However, it lacks several advanced analytical features found in the modern crypto exchanges. Netcoins also does not have a mobile app.

Netcoins fees

Netcoins charges 0.5% trading fees per transaction, higher than what other Canadian crypto exchanges might offer. However, it offers free fiat deposits with no charges. Its fiat withdrawals are also free of fees.

You can buy crypto with Canadian (CAD) and American (USD) currencies. In terms of funding, a minimum of $10 USD is required for Interac e-transfers and $500 USD for bank wires.

Netcoins exchange

Netcoins currently offers eight different cryptocurrencies for trade. It includes primary coins like Bitcoin and Ethereum. Its portfolio also consists of Stellar Lumens, Litecoin, EOS, among others.

Here is a list of the digital currencies available on the Netcoins exchange:

Newton

Newton is one of the top 10 crypto exchanges in Canada. Since its inception in 2018, this Toronto-based crypto exchange now provides approximately 60 different crypto assets in its vast portfolio. Newton offers a sleek crypto exchange app with intuitive features, allowing users to trade crypto with a few convenient clicks.

Newton is only available to Canadian investors. Despite the regional exclusivity, this crypto exchange has seen steady growth in its user base. In May 2021, Newton celebrated over 200,000 users, an impressive milestone for this small and dedicated company.

Newton review

Named after Isaac Newton, this Canadian crypto exchange inspires confidence and innovation. Unlike most crypto exchanges, Newton’s fee structure is based on price spread instead. You may occasionally encounter lower than expected trading fees with this crypto exchange.

Newton appeals to users in Canada due to these features:

• Offers 60+ cryptocurrencies in its portfolio.
• Over 200,000+ users on its crypto exchange.
• Fee structure is based on spread.

This exchange will appeal to cryptocurrency rookies with its user-friendly app, which comes with an intuitive interface. However, Newton is known to have slow verification times, a potential setback for new traders who want to get started on investing right away.

In addition, the current app may lack some modern features for advanced traders. Newton Pro is currently in development, showing promise with many exciting tools that investors can look forward to using.

Newton fees

Newton’s divergent fee structure differs from the norm. It carries an inbuilt fee per trade, calculated by the price spread for each coin. Sometimes, these price spreads can fluctuate surprisingly low or frustratingly high. There is uncertainty with the costs of each trade, lacking the transparency that many meticulous crypto investors want.

The good news is that Newton doesn’t charge any deposit or withdrawal fees. The price spread fee is the only cost traders will need to pay. When the right opportunities come, trading on Newton could mean lucrative transactions with low fees involved.

Newton crypto exchange

Newton offers over 60 crypto assets on its trading platform. Its large crypto portfolio encourages traders to diversify their investments, from popular brands to new emerging coins. Some of Newton’s products include Bitcoin, Ethereum, Ripple, Litecoin, Cardano, among many others.

Here is a list of the top 10 crypto currencies offered by Newton: