Fees can quietly eat into your profits, especially if you’re an active trader. This factor is crucial for everyone, regardless of your trading experience or investment size. Additionally, their customer support impressed us with their prompt resolution of our specific crypto asset withdrawal issue within 24 hours. The Bitget app receives high ratings and offers user-friendly features on both iOS and Android. In the event of asset loss through no fault of the account holder, a claim can be made.

Common Costs Associated with Crypto Trading in Canada

Canadian users can use the quick buy and sell feature to trade crypto or access the advanced trade function for order book trading. Yes, Kraken is committed to serving Canadian crypto users and offers CAD deposits and over 200 trading pairs. With a daily average volume trading over $965 million, Kraken has grown to become the sixth-largest cryptocurrency exchange in the world since in 2013 launch. More advanced traders can enjoy a professional trading platform to maximize their investment strategies which include CAD-denominated order books. New crypto exchange users can start investing using quick buy features for as little as $10. Yes, Bitbuy is great for Canadian crypto exchange users; it is fully regulated, designed, and operated in Canada.

Compare more crypto exchange platforms in Canada

The trading fees are not comparable with many local Canadian crypto exchanges, it is very very low due to the high volume. Newton is one of the best beginner-friendly crypto exchanges with low trading fees in Canada. It’s one of the best crypto exchanges with a user-friendly interface and extensive support for various crypto assets, making it ideal for both beginners and advanced traders. Bitget is a global exchange catering to skilled users and offers a vast selection of altcoins for Canadian crypto traders. Even though Newton claims to be a no-fee crypto exchange, it has higher spreads than exchanges that charge trading fees (similar to NDAX and Shakepay).

Cryptocurrency & fiat currency selection

• We’ve covered a wide variety of centralized exchanges that cater to both beginners and advanced traders.
• All of our content is written by Canadian crypto experts, not robots.
• Our main objective is to help readers make better-informed decisions when choosing online brokers and learn the foundations of trading rather than providing financial advice.
• NDAX supports 30+ coins, including Bitcoin, Ether, Litecoin, EOS, Dogecoin, Cardano, Shiba Inu, The Graph, Compound, MATIC, USDC, Polkadot, and several others.
• Additionally, the platform offers Two-Factor Authentication (2FA), providing an extra layer of security for user accounts.

While platforms like KuCoin might offer attractive features, they lack proper Canadian oversight. Coin selection matters depending on your trading strategy. Casual, long-term holders might prioritize other factors over minimizing every basis point in fees.

What are the features of Coinbase?

• While we are independent, the offers that appear on this site are from companies from which Finder receives compensation.
• Crypto and bitcoin losses need to be reported on your taxes.
• Note that you can only withdraw specific coins on Coinberry (BTC, LTC, XRP, and ETH).

Although, this feature can be more expensive with Coinbase marking up prices on the trade spread. Once verified, Canadians can deposit crypto using Interac e-payment rails for feeless instant funding, or use the credit card, wire transfer, or crypto deposit methods. Signing up for a Coinbase account is a simple step by step process that includes the usual KYC and identity checks to conform with regulatory requirements.

Compare to Bitbuy, it offers over 800+ cryptocurrency coins, so it’s the perfect choice for people who like to invest in altcoins. Additionally, the platform offers Two-Factor Authentication (2FA), providing an extra layer of security for user accounts. This narrow range might be a drawback for traders looking to diversify their cryptocurrency portfolio. Newton’s ease of use and focus on popular cryptocurrencies make it the premier choice for beginner traders in Canada’s cryptocurrency market. The platform offers 0% fees for CAD funding, CAD withdrawals, and crypto deposits/withdrawals, with up to a $5 network fee waiver. The fees on Coinbase are among the highest in the crypto exchange industry.

The platform incorporates world-leading security protocols and compliance standards. It has been the leading name for digital asset custody since 2012 serving both retail clients and large financial institutions for trading and crypto custody. It is registered with the OSC and FINTRAC, is insured by BitGo, and is shielded by Fireblocks, a blockchain security service provider.

Security features

As a result, these exchanges, facing stringent FINTRAC guidelines, opted to leave the Canadian market altogether. Typically, decisions regarding the legitimacy of these exchanges fall under the purview of FINTRAC and the Ontario Securities Commission. Similarly, staking opportunities appeal to long-term holders looking for passive income, while day traders might prioritize superior customer support for quick issue resolution.

Newton

When making the trade we received $99.10 worth meaning we lost $0.90 or 0.90% to the spread and that’s your only expense. Newton has a sleek, modern interface that will appeal to beginner crypto investors. Being a public company, it adheres strictly to Canadian regulations and is registered with FINTRAC. This addition, along with the platform’s growth into serving both Canada and the USA, showcases its evolving services. Bitcoin Well has also introduced a new Recurring Buy feature, automating bitcoin purchases at regular intervals. What sets them apart is their bill payment feature – you can use Bitcoin to pay regular bills right through their platform.

Bitbuy Crypto Exchange

We earn commissions through referral links to crypto exchanges and products on this site. Decentralized exchanges allow users to provide their own liquidity to the platform and make trades without a centralized provider acting as a middleman. In this guide, we’ll break down the 8 best cryptocurrency exchanges in Canada based on factors like user experience, fees, and customer support.

Canada Crypto Exchanges Spreads

Currently, Shakepay only allows purchases of Bitcoin and Ethereum, but we still think it is one of the best exchanges to buy Bitcoin in Canada. For asset protection, Shakepay employs cold storage for coins, significantly reducing the risk of security breaches. The exchange is registered with FINTRAC, aligning with regulatory compliance and adding a layer of credibility. Security-wise, Shakepay takes robust measures to protect its users’ assets and data. Similar to Netcoins, they also offer a crypto visa card, which you can use Canada-wide and receive cashback in Bitcoin.

With more than 100M users, Coinbase is the largest US crypto exchange and the world’s biggest bitcoin custodian. Our team has thoroughly assessed each platform, and below, you will find information on the regulations, fees, available coins, and everything else that will be of interest to someone who is looking to trade or own cryptocurrencies in Canada. If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada. Canada has tough regulations for crypto exchanges operating within its borders.

Bitbuy and NDAX are top picks among Canadian crypto exchanges, offering robust security measures and a seamless trading experience for Canadian crypto investors. Read on for a few minutes, you’ll get an in-depth review of the top Canadian crypto exchanges, including their regulation status, security, features, and fees. It has the largest selection of coins of any of the platforms in my ranking of crypto exchanges in Canada, with 350+ coins and tokens. However, Coinbase is one of the crypto exchanges with a complex fee structure, and they are on the high side for small-volume traders. No registered crypto platform can legally offer margin, credit, or leveraged trading of cryptocurrencies to retail traders. If you, too, reside in Canada and are looking to participate in the cryptocurrency revolution, you are welcome to check out our selection of the top crypto brokers and exchanges that welcome Canadian traders.

Methodology: How we choose the best cryptocurrency exchanges

It is registered as a marketplace for crypto assets with the Ontario Securities Commission and a money service business with FINTRAC. The best crypto exchange in Ontario is Bitbuy. I consider Bitbuy and Wealthsimple Crypto the best crypto trading platforms for beginners. The best crypto exchange in Canada for beginners is Bitbuy. While these exchanges offer more flexibility, the options can be overwhelming if you are just learning about crypto. If the trading fees are high, it could dampen your overall returns.

Bull Bitcoin follows all the Canadian rules because it’s registered with FINTRAC, a government agency. Also, when you buy Bitcoin from them, there are no extra fees. A cool thing about Bull Bitcoin is that they send the Bitcoin straight to your cold crypto wallet. You can put Canadian dollars into your account using Interac e-Transfer, wire transfer, or by paying with cash or debit at Canada Post. If you want to trade Bitcoin only, then Bull Bitcoin is your best choice. With this latest development, Bitbuy now caters to a diverse range of users, from novices to experts, accommodating both limited and substantial budgets.

Shakepay has recently emphasized that they store digital currencies in secure offline storage (cold storage) backed by insurance, ensuring enhanced security for users’ assets. This spread, which is the difference between the buying and selling prices, can significantly impact the cost of transactions, making trading fees on the higher side. They currently offer over 70+ cryptocurrencies which makes them the best Canada-based crypto exchange when it comes to crypto selection. Security is a significant focus for the platform, which includes daily exchange backups and third-party custody of assets, mostly kept offline for enhanced safety. For example, we spent $100 with Newton Canadian crypto exchange. If you decide to use Newton, make sure to check our Newton crypto exchange review.

After some time, centralized exchanges started charging crazy fees to their users. Through my testing, I buy $100 worth of Bitcoin on each Canadian crypto exchange to calculate the real cost of trading. When evaluating exchanges, I look for platforms that store at least 90% of digital cryptocurrency broker canada assets in cold storage and offer insurance coverage for Canadians. Security tops the list for good reason – I’ve seen too many Canadian crypto traders lose funds to hacks and exchange failures.

You might find simple platforms only offer the big name coins like Bitcoin and Ethereum, while more advanced platforms likely open up hundreds of options from memecoins to DeFi tokens. If you can’t find in-depth information about a platform’s security or it doesn’t have a proven track record, then it’s best to avoid it. The platform is fully regulated and even helps users track their taxable events. All your transactions, even crypto-to-crypto trade, are compiled to make sure you don’t fall foul of taxable gains in Canada. A simple trading feature offers convenience with one-click trading so newcomers can buy and sell instantly.