How Much Solo Will Xrp Holders Get

10 Best Crypto Exchanges in Canada as of Dec 2022

Updated December 1, 2022

Choosing a crypto substitution in Canada could be complicated. Being Canadian, I personally was struggling to find a proper exchange for trading crypto that properly operates in Canada and is prophylactic.

With the contempo FTX plummet, y'all got to exist wise when picking an substitution to trade crypto in Canada.

If you’re looking to invest in crypto in Canada either for the beginning time or because y'all’re looking for a new substitution to apply, then we’ve got you covered with the list of the all-time cryptocurrency exchanges bachelor for Canadians.

In that location are several Canadian cryptocurrency exchanges that you can apply to purchase crypto easily and safely with Canadian dollars (CAD). Being a Canadian crypto investor, I decided to do big research on local crypto apps. Our team of experienced crypto traders fabricated the listing of the best Canadian crypto exchanges based on several factors including:

Deposit methods for Canadians
Compliance with Canadian laws
Security
Coins selection
Ease of use
Customer support
Trading fees and spreads

Hither’s a quick look at OCryptoCanada’s peak 10 cryptocurrency exchanges in Canada by December 2022.

Coinsmart
Binance

Sign Upward Bonus
Many bonuses based on trading
Bitbuy

Newton
Netcoins
Uphold
Shakepay
NDAX
Coinberry
CoinField

Oleg Galeev

Cryptocurrency Specialist

We hope this list will help you lot to decide which crypto exchange platform would work the best for you in Canada. 3 reasons why you should trust me:

Experience. I've been trading crypto for over six years (since 2016) and got burned by scam artists in the past.
All-encompassing enquiry. We considered the about of import factors then you can make a selection based on your needs.
Unbiased. I could easily recommend Gate.io crypto substitution (like many crypto traders exercise) and go my 40% cut of your transactions simply it'due south not the best choice for Canadians. In fact, Canada is on the listing of disallowed countries under their terms. We considered but the about reputable exchanges specifically for Canadian users.

Disclaimer: All write-ups and articles do not constitute financial and legal advice in whatever way any merely for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider.

Best Canadian Cryptocurrency Exchanges based on consumer ratings, reports and personal feel in 2022

1. Coinsmart

Coinsmart is a true Canadian crypto commutation and its mission is “making cryptocurrency accessible for Canadians”. They definitely follow their mission and this is why Coinsmart is the #ane best crypto commutation in Canada. It's accessible indeed and I personally trade crypto with them for many reasons.

Based in Toronto, CoinSmart has everything you demand, whether your feel ranges from beginner to pro. Built for Canadians looking to trade crypto, CoinSmart offers aforementioned-twenty-four hours deposits, 24-hr customer support, and same-day account verification. This means that y'all tin can sign upwards, deposit your CAD and commencement trading all on the same twenty-four hours. The majority of Canadian crypto exchanges take some time (ii-7 days), to bank check and verify all your IDs. The option of coins is generous and they likewise have stablecoins (USDC).

I personally love their low fees, fast buy/sell/withdrawal process, and really bang-up back up. Indeed, there are some Canadian cryptocurrency exchanges with slightly lower fees, but you might look 2-7 days to verify your business relationship, not to mention, customer support takes too long to reply. When I apply services related to my financial assets, fast and helpful customer support is a MUST have, and Coinsmart has 24/vii live conversation, email, and even phone support (the only Canadian crypto substitution that has phone support).

Deposits methods: Interac e-Transfer, credit/debit cards, wire transfer
Currency: Canadian dollars (CAD)
Ease of use: Easy
Trading fees: Deposit fee of 1.5% for deposits between $100 - $1999.
Gratis deposits for deposits of $2000+ (I usually deposit $2000 at in one case to avert fees). Withdrawal fees are ane% and there are various crypto withdrawal fees. Trading fees are 0.20% for a single trade or 0.40% for a double merchandise.
Customer support: 24/7 live chat, e-mail, and phone back up
Spread: from 0.5% to 2%
Security: $100 million insurance coverage from Lloyd’s of London. CoinSmart uses BitGo cold storage for its coins and it is
FINTRAC registered

Pros:

CoinSmart offers a wide selection of cryptocurrencies
The crypto platform offers all the social club types you could want besides as Over-the-Counter (OTC) services for large trades
Information technology has a beginner-friendly interface
CoinSmart’south SmartTrade offers its users the ability to trade from one altcoin to another without having to convert to Bitcoin or Ehereum start

Cons:

While depression, CoinSmart charges eolith fees (similar any other centralized Canadian crypto exchange). Still, y'all can avert them by depositing over $2000 which is an amazing selection and coin saver.

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two. Binance

I personally use Binance for then many years and it is i of the all-time crypto exchanges in the globe and it is bachelor for Canadians. The only reason why I placed them on the 2d spot is that Binance was banned in Ontario. It works well in other provinces. In that location are rumors they are edifice a Canadian version of the website for Ontario residents so more to come.

Compare to Coinsmart and Bitbuy, information technology offers over 400 cryptocurrency coins, so information technology’southward the perfect choice for people who like to invest in altcoins. Also, their fees are extremely low and they temporarily waived fees for buying Bitcoin and thirteen spot trading pairs (e.1000. you buy Bitcoin with your fiat (Canadian dollars), and so buy other crypto coins with Bitcoin).

Its native money, Binance Coin (BNB), is one of the virtually valuable cryptocurrencies in the world.

Binance is and so huge that it has a two billion average daily book and 1.4 million transactions per second. Information technology operates in 180 countries and accepts fiat deposits in 50+ currencies. Despite some bug they had in the by with Canadian regulations in Ontario, Binance is all the same one of the all-time places to purchase crypto in Canada because of its security, reputation, and a vast amount of coins available.

Binance offers some of the lowest fees of any crypto exchange and if your hold BNB, y'all can get even lower fees. The trading fees are not comparable with many local companies, it is very very low. While its platform is certainly non for beginners (even though, they fabricated their interface user-friendly recently), once you go used to the advanced interface, Binance offers so much that you’ll probably never look at another exchange again. Information technology'southward also the all-time altcoin exchange available for Canadians. It is a keen crypto platform for Canadians to start and and so continue to mire advanced trading since Binance offers tons of options and flexibility with crypto assets. Check out more than about this crypto trading platform in our Binance Canada review.

Deposits methods: Credit/debit, SWIFT banking company transfer with USD
Ease of use: Avant-garde
Coin selection: 400+ including BTC, ETH, XRP, DOGE
Fees: 0.1% to 0.02% purchase fee depending on VIP level
App: iOS and Android
Customer back up: E-mail
Security: 2FA, crypto address whitelisting, Trust Wallet partnership, KYC verification process
Reputation (i-10):9

Pros:

Good for Canadians looking to buy and trade altcoins
DEX/P2P trading
Advanced lodge types
Margin trading
Derivatives and futures trading
Stock token trading
400+ coins
Low tradings fees (currently no fee for trading bitcoin)
Simple or advanced interface

Cons:

No Interac e-Transfer
Not available in Ontario at the moment

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three. Bitbuy

Front and center on Bitbuy’south website is ane of the best Canadian crypto exchanges featuring the Canadian flag. Anybody who uses Bitbuy knows it is one of the safest and nearly trusted Canadian crypto exchanges out there. Most importantly, nosotros detect information technology the nigh secure crypto exchange platform for Canadians. Bitbuy conducts regular financial audits and is fully regulated as a Money Service Business organization (MSB) by FINTRAC and the latest Proof of Reserves Audit showed that BitBuy surpassed their cold storage policy for an average of 98.12%.

The major downside is Bitbuy'southward fees because they accuse a ane.5% withdrawal fee. Expert affair, they've waived the one.5% deposit fee in July 2022.

Featuring two reading platforms - Express and Pro - Bitbuy has both beginners and advanced traders covered. Also, Bitbuy has a huge variety of coins bachelor, it tin can certainly be considered one of the best exchanges to purchase Bitcoin in Canada. Check more in our Bitbuy review.

Deposits methods: Interac due east-Transfer, wire transfer
Currency: Canadian dollars
Ease of employ: Easy and Advanced
Coin option: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, EOS, Stellar, LINK, AAVE, Solana (SOL), Cardano (ADA), Polkadot (DOT), Dogecoin (DOGE), Uniswap (UNI), Sushiswap (SUSHI), Polygon (MATIC) and few more. They constantly adding new crypto assets for trading which is a expert thing for investors.
Trading fees: Interac e-Transfer eolith fee is 1.50% with a withdrawal fee of 1.5%. For wire transfer deposits the fee is 0.l% and the withdrawal fee is 1.00%.
Spread: from 0.five% to 1%
App: iOS and Android
Customer support: Email support
Security: Registered with FINTRAC, and 95% of coins are in common cold storage. In addition, in the latest Proof of Reserves Audit that was released on July 2021, BitBuy surpassed its cold storage policy for an average of 98.12%.

Pros:

Bitbuy caters to both beginners and avant-garde traders with its ii separate platforms - Express Trade and Pro Trade. Express offers a simple interface while Pro offers avant-garde order types and charting. With these 2 platforms, Bitbuy has positioned itself equally the become-to identify for Canadians no matter how express or avant-garde their crypto knowledge
Bitbuy has a solid reputation for providing Canadians with a secure trading platform

Cons:

Bitbuy has a limited number of coins available compare to other Canadian crypto exchanges (but they have the most popular ones)
Loftier eolith and withdrawal fees

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4. Newton

Newton is 1 of the best beginner-friendly crypto exchanges with low trading fees in Canada. Information technology offers popular digital currencies such as Bitcoin, Ethereum and Polkadot also as many other altcoins that nosotros think may explode in 2022. In fact, they constantly add new coins and amend their platform. Newton has a sleek, modern interface that volition entreatment to beginner crypto investors. Its cryptocurrency trading platform is easy to navigate and users can accept advantage of costless deposits and withdrawals.

Even though Newton claims to be a no-fee crypto exchange, information technology has college spreads than exchanges that accuse trading fees (like to NDAX and Shakepay). However, it is still a pretty decent crypto platform and fees are pretty cheap. If yous decide to employ Newton, brand sure to check our Newton crypto substitution review. For instance, we spent $100 with Newton Canadian crypto commutation. When making the trade we received $99.10 worth pregnant we lost $0.xc or 0.90% to the spread and that'southward your only expense. Newton also covered network fees for withdrawal.

No dubiety, Newton is i of the all-time crypto trading platforms in Canada and is suitable for beginners looking to get their easily on popular cryptocurrencies. It also offers instant verification, which is great if you want to buy your commencement crypto fast.

The best thing near Newton is the crypto assets they offer and they grow this list every month. They currently offer over 70+ cryptocurrencies which makes them the best crypto exchange in Canada when it comes to crypto choice.

If you’d like more advanced trading features, Newton is working on a Pro trading platform that is currently in its Beta phase.

Deposits methods: Interac east-Transfer, Wire transfer, Connect bank account

Currency: Canadian dollars

Ease of employ: Piece of cake

Coin choice:
Bitcoin, Ethereum, Litecoin, Stellar, Bitcoin Cash, Dogecoin, USDC, USDT, Chainlink, Aave, Uniswap, Polygon, Compound, SushiSwap, Curve, Synthetix, Dai, Polkadot

Trading fees:

0% CAD funding
0% CAD withdrawal
0% crypto eolith/withdrawals (upwards to $5 network fee waived)
No commissions or trading fee

Spread: 0.40% to 0.ninety%

App: iOS and Android

Customer support: Electronic mail

Security:

Daily exchange backups
Third-party custody of assets, generally offline
Direct bank integration to reduce fraud

Pros:

No deposit or withdrawal fees
Wide choice of coins available
You can export a T5 statement
Sleek interface
Newton Pro for advanced traders in Beta stage

Cons:

No live chat support
No credit menu deposits. Debit must be pre-approved.
High fee on spreads

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v. Netcoins

Netcoins is a fully-regulated Canadian crypto exchange, and then you know it is the real deal. The exchange is too endemic past Bigg Digital Assets, which is a publicly-traded company. This tin give you lot the ultimate reassurance that your funds are as condom as can exist.

Netcoins was founded by Mitchell Demeter, who founded the world’s offset bitcoin ATM in Vancouver in 2013. Netcoins originally provided businesses with crypto ATMs, but information technology has since evolved into one of Canada's top crypto exchanges.

Netcoins has a lot of skillful features including free deposits and withdrawals, excellent customer support and their own crypto Visa carte which offers 3% cashback paid in bitcoin for the first three months and then 1% thereafter.

There are 30+ cryptocurrencies bachelor to trade and they add more everything calendar month. Not but that, but Netcoins has the largest referral bonus of whatsoever crypto exchange. If you refer a friend and they buy $100 worth of crypto, you’ll both get $25.

Netcoins is fast condign one of Canada’due south virtually reputable and trusted crypto exchanges. The fact that information technology is fully compliant and regulated means that you can be sure it’s not a scam exchange. The only downside to its security is it’southward not exactly clear how client funds are kept. There is no mention of using secure cold storage on the Netcoins website.

Your account will exist secure with mandatory 2-gene hallmark, and should you demand help, their support team is available via email, phone and alive chat.

Deposits methods:

Interac e-transfer, bank wire
Ease of use:

Easy
Money selection:

30+ cryptocurrencies including BTC, ETH, AVAX, SHIB
Trading fees:

No deposit/withdrawal fees, 0.55 trading fees
Spread: from 0.five% to 1%
App:

iOS and Android
Customer support:

Electronic mail, phone and live chat back up
Security:

Registered with FINTRAC and regulated past the Canadian Securities Administrators, mandatory 2FA
Reputation (i-10):
8

Pros:

Fully regulated exchange
Endemic past a publicly-traded visitor
Wide option of cryptocurrencies
Gratuitous deposits & withdrawals
Phone support
Crypto Visa card
Large sign-upwardly bonus
Beginner-friendly

Cons:

Loftier 0.5% trading fees
No debit/credit bill of fare purchases
Unclear how customer funds are held

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6. Uphold

Deposits methods: Credit/debit card, crypto, equities, precious metals
Currency: Canadian dollars (CAD), USD, Euros
Ease of apply: Beginner
Coin option:
65+ cryptocurrencies, 50+ U.s. stocks, four precious metals
Trading and spread fees: 1.8% spread on most cryptocurrency trades, 1% spread on equities, three% spread on metals, free debit purchases
App: iOS and Android
Customer support: Email, online ticketing
Security: 2FA, Asset backing transparency, audits, registered equally a money services business in Us
Reputation (1-ten): ix.5

Released in 2015, Uphold is the best crypto exchange for multi-asset trading. It is one of the all-time crypto exchanges in Canada for several reasons.Not only can you trade 60+ popular digital currencies but you tin likewise trade Us stocks or precious metals. This is why many Canadian crypto investors prefer Uphold over others.

With Uphold’south “Anything to Annihilation” role, you tin can trade crypto to crypto, or trade crypto for a Us stock, or a precious metal, in a few clicks. Not only that but yous tin identify up to 50 simultaneous limit orders without putting up capital for each order. No other cryptocurrency substitution allows this many limit orders at one time so we call up that makes Uphold one of the best crypto exchanges in Canada.

While the spreads are quite high at 1.8% for Canadians, nosotros withal call back Uphold is one of the best crypto exchanges because debit card purchases are free. Equally long as your banking concern allows the transaction, you can buy crypto from Uphold without additional menu charges. You can manage all of your assets on the desktop trading platform or on Uphold’s mobile app. Both offering an easy-to-employ trading interface that’southward suitable for beginners.

If you’re looking for crypto exchanges in Canada, then Uphold is a great choice. Y'all can keep all of your investments in one place and swap dissimilar asset types in seconds. Uphold is certainly the all-time crypto substitution for multi-asset trading. Cheque more in our Uphold crypto commutation review.

Pros

Wide range of cryptocurrencies
Trade stocks and precious metals
Swap crypto for stocks or metal in seconds
Recurring buy/sell orders
Educational resources
50 simultaneous Limit orders allowed
Gratis debit card purchases

Cons

High spreads
Uphold debit card non bachelor to Canadians
Bank deposits/withdrawals not available for Canadians
3.99% credit carte processing fee
Lack of search filters for equities

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7. Shakepay

Shakepay is a Montreal-based trustworthy exchange that offers free and fast deposits and withdrawals and is considered i of the best Canadian crypto exchanges for beginners. You tin can deposit Canadian dollars (CAD) via Interac eastward-Transfer or wire transfer. Verification can be instant pregnant you can start depositing and trading right abroad. Shakepay is fast, beginner-friendly, and has a modern interface. No doubt, it is 1 of the all-time bitcoin exchanges in Canada for beginners. Nosotros say "bitcoin exchange" on purpose, because Shakepay offers two coins merely: Bitcoin and Etherium. Exist aware, there are many subconscious fees involved that we considered in our Shakepay review.

Information technology offers a unique referral programme where, if y'all refer a friend who signs up using your referral link, you can milkshake your phone every day to receive small amounts of Bitcoin. The more people you refer, the more than Bitcoin you lot earn. The simply downside is remembering to shake your phone every day to receive your rewards. They also offer a crypto visa card, which y'all can utilize Canada-wide and receive cashback in Bitcoin.

Shakepay does not offering advanced trading tools because information technology is aimed at new crypto users and those looking for a simple, easy-to-employ experience. It has the best crypto app in Canada based on a well-rated iOS and Android app equally well as Shakepay'southward customer support team that responds chop-chop. Currently, Shakepay merely allows purchases of Bitcoin and Ethereum, but nosotros still think information technology is one of the all-time exchanges to buy Bitcoin in Canada with depression trading fees.

Deposits methods: Interac e-Transfer, wire transfer
Currency: Canadian dollars (CAD)
Ease of utilise: Easy
Trading fees: Free deposits and withdrawals. Trading fees are 1.ii to two.five%.
Spread: from 1.2% to 2.5%
App:
iOS and Android (the best app to buy cryptocurrency in Canada based on user ratings)
Client support: Email back up
Security: Registered with FINTRAC, coins are kept in cold storage, 2FA available

Pros

Fast and gratis deposits and withdrawals
Unique referral programme
Responsive customer support
A highly-rated app
Beginner-friendly interface

Cons

Only accepts CAD deposits
Manual verification can take seven days
Only Bitcoin and Ethereum are available
High spread

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8. NDAX.io

NDAX is a beginner-friendly crypto substitution that offers a good amount of popular digital currencies. Information technology is the but Canadian crypto commutation that offers crypto staking. Many Canadians believe that NDAX is the cheapest crypto exchange in Canada with the lowest fees.

Indeed, it offers gratuitous deposits, stock-still withdrawal fees, and a fixed 0.2% buy/sell fee, which makes it easier to piece of work out how much you’ll be charged per trade. These points make it a top choice for Canadians and i of the best crypto exchanges in Canada. Bank check more about it in our NDAX review. Despite this, NDAX is 1 of the best crypto exchanges and is a good starting point for Canadians looking to purchase crypto for the outset fourth dimension.

Deposits methods: Interac east-Transfer, Wire transfer, Bank draft
Currency: Canadian dollars (CAD)
Money selection:
Bitcoin, Litecoin, Ethereum, EOS, Stellar Lumens, Dogecoin, Cardano, USDT, Chainlink, Polkadot, Uniswap, The Graph, Compound, Aave, Polygon and more.
App: iOS and Android
Customer back up: Email/live conversation
Trading Fees: fixed 0.2% buy/sell fee
Spread: from 0.one% to 0.5%
Security: Avails stored in common cold storage using the Ledger Vault (amount unknown)

Pros:

Costless deposits
No eolith/withdrawal minimum or maximum
Stock-still 0.2% buy/sell fee
Broad range of coins available
Fast Interac deposits
Send, request, and gift crypto to some other NDAX user for free, instantly
Address whitelisting

Cons:

Only CAD deposits accepted
No credit/debit cards accepted
$4.99 flat fee for wire/bank withdrawals
Hidden fees (e.thou. loftier spread)

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9. Coinberry

Coinberry was founded in 2017 and is a cracking choice for Canadians looking to trade crypto. Nigh of the people prefer Coinberry over BitBuy due to the lower trading fees. Information technology makes sense. Over 90% of its customers are automatically verified meaning you tin start trading right away. In 2019, Coinberry fabricated history when information technology partnered with the town of Innisfil for the get-go-ever payment of property taxes in Bitcoin in Canadian history. The partnership illustrates only how committed Coinberry is to providing cryptocurrency admission to Canadians. The city considered Coinberry as the best crypto broker in Canada. Read more than about this Canadian crypto exchange in our Coinberry review.

Deposits methods: Interac due east-Transfer, debit/credit cards, wire transfer
Currency: Canadian dollars
Trading fees: 0% CAD funding and 0% CAD withdrawal fees.
Crypto withdrawal fees apply to encompass mining costs and the trading fees spread is 0% to 2.five%
Spread: 0% to ii.5%
App: iOS and Android
Client support: Live chat bachelor
Security: FINTRAC, PIPEDA compliant, insured by Lloyd’southward of London, partnered with Gemini Trust Company LLC™ offering $200M in insurance coverage

Pros:

Secure exchange and fully insured
Uncomplicated, beginner-friendly interface
Coinberry is dedicated to providing Canadians everywhere with easy access to cryptocurrency.
No CAD deposit and withdrawal fees

Cons:

High spread
No debit or credit carte deposits
A few withdrawal restrictions

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10. CoinField

CoinField is a cryptocurrency commutation with an office in Vancouver and some other in Estonia. In our stance, it'south and so underestimated crypto exchange by Canadians and North Americans overall. The cryptocurrency platform offers all kinds of gild types and is a perfect choice for both beginners and serious investors. The all-time office about CoinField is the huge number of crypto coins they offer also as low fees compared to the well-nigh crypto exchanges available for Canadians.

Offering multiple trading pairs and altcoins, as well as fast deposits in Canadian dollars, CoinField is one of the pinnacle Canadian cryptocurrency exchanges. More than just an exchange, CoinField backs the cryptocurrency Sologenic (SOLO) and offers SOLO holders discounts on trading fees making it ideal for SOLO fans. Bank check more than in our Coinfield review.

Deposits methods:Interac e-Transfer, credit/debit cards, wire transfer
Currency: Canadian dollars (CAD), USD, Euros
Ease of use:Advanced
Trading fees:
CoinField has various trading fees depending on the amount traded (from 0% to 0.25%). CoinField also charges deposit and withdrawal fees but they ofttimes have limited-time free offers
Spread: from 0% to 0.6%
App:iOS and Android
Customer support:Phone, electronic mail, and an online ticketing system
Security:CoinField is one of the safest crypto exchanges in Canada. It uses cold storage for coins and it is a fully compliant exchange. Yous will need to provide proof of accost and several identification documents in order to trade. With CoinField you can have peace of heed knowing you are dealing with an commutation that prides itself on its security and privacy

Pros:

CoinField offers advanced guild types, charting, and numerous trading pairs on its platform making it suitable for users with investing feel
Offers a wide selection of coins making it the most diverse platform on our listing.

Cons:

CoinField’s app makes trading crypto easy, merely its desktop platform tin be confusing and overwhelming for beginners
CoinField charges eolith and withdrawal fees

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Factors To Consider When Choosing Cryptocurrency And Bitcoin Exchange Platform In Canada

When choosing a Canadian cryptocurrency exchange, it’s important to consider a variety of factors like deposit methods, ease of use, coin selection, fees, app rating, security customer back up, and reputation overall.

Deposits Methods

When picking a cryptocurrency substitution in Canada to buy digital assets, you want to brand certain that they offer a few eolith methods and take CAD.

Global popular crypto exchanges such as Coinbase and Binance may offer the ability to buy crypto with your Canadian debit or credit card, even so, this will often come with a hefty exchange rate fee. You can therefore bypass this and get your crypto every bit cheaply as possible by using a Canadian-based cryptocurrency substitution that allows Interac e-Transfers.

Ease of employ

It’s important to find a cryptocurrency exchange that makes the process of trading crypto as piece of cake and intuitive as possible. Some reputable exchanges have advanced interfaces with charts and club books that might be suitable for seasoned investors, but anybody new to crypto might find those tools overwhelming. A uncomplicated cryptocurrency exchange platform that is beginner-friendly will requite y'all conviction that you’re making the right moves.

Coin option

Peradventure you’re just interested in trading Bitcoin and Etheruem. After all, these ii coins hit the headlines the most. All the same, if you’re looking to merchandise altcoins, perchance for brusque-term profits and day trading, and then y'all’ll need to find a Canadian crypto trading exchange that offers more than merely Bitcoin and Ethereum. Consider the trading pairs that crypto exchanges offer for Canadians. For instance, you might want to trade your XRP to Cardano, but that pair might non be available pregnant you would need to first convert your XRP to Bitcoin, so buy Cardano with that Bitcoin. For simplicity and price-effectiveness, detect a cryptocurrency commutation platform that offers the trading pairs you call back you lot’ll need.

Fees

In that location are several types of fees to consider when choosing a Canadian cryptocurrency exchange.
Some pop crypto exchanges offer free fiat deposits and withdrawals and others don’t. On height of that, you’ll need to pay transaction fees when you purchase crypto with fiat, buy crypto with another crypto, or sell crypto for fiat. You’ll also exist charged a fee when yous withdraw crypto off the substitution to a wallet. These fees comprehend the mining costs which include validating your transaction and calculation it to the blockchain.

Popular cryptocurrency exchanges volition also accept a committee from trades, which ways they volition incentivize you with lower fees the more frequent and higher your trades are. Most top crypto exchanges in Canada will have a total list of their fees on their website.

App

A cryptocurrency exchange that has its own app may or may non be of import to you. If it is, you’ll want to find 1 that has a elementary interface that makes trading on the go a breeze. Be sure to read reviews of the app and make sure that the exchange has released multiple versions - it means they continuously fix bugs and keep information technology up to date. The final thing you want is an app that is at adventure for a security breach. Lookout man out for crypto exchanges that merely have an app for iPhones or Androids just non both. Make sure you sign up for an exchange that has an app compatible with your phone.

Customer back up

Skilful client service is imperative when it comes to the best cryptocurrency exchange platforms. Some Canadian exchanges volition but offer email support, while other will offers support via phone, email, live chat and social media. Things can get wrong when trading crypto. Y'all could exist locked out of your account, or a deposit might non articulate, or your verification procedure might take failed. Whatsoever happens, you’ll desire peace of heed knowing you’re with an exchange that takes their customers’ technical issues seriously. Try to find a Canadian crypto substitution that offers 24/seven support in multiple forms.

Security

Security is one of the virtually important things to consider when choosing a cryptocurrency exchange. Y'all’ll want to find a cryptocurrency substitution that utilizes a cold storage system, which means to store coins offline and therefore less probable to be stolen past hackers. Some of the best Canadian exchanges will be insured for losses. For case, Wealthsimple’due south coins are held past Gemini Trust Conmpany LLC™ with $200M in insurance coverage. The safest exchanges for Canadians will require you to become through a Know Your Customer (KYC) verification procedure when signing upwardly. If the exchange requires you to submit identity documents and then y'all know they are fully compliant and take money laundering and fraud seriously. These verification steps ensure your privacy and security.

Reputation

If they’ve been around long enough, about cryptocurrency exchanges in Canada will have customer reviews
. Read some reviews and go a feel for what these crypto trading platforms are adept at and what their customers like and dislike about them. If an substitution has more bad reviews than good ones, and then it’s probably best to stay away. Ask people in local communities on Facebook or Reddit.

What’s the best way to purchase crypto in Canada?

There are a few unlike means to buy crypto in Canada, and the best method for you will depend on your needs and preferences. If you're looking for the simplest and easiest style to get started with buying crypto, then using a Canadian crypto commutation like Coinsmart is probably your best bet. Ultimately, information technology'due south upward to y'all to decide which method is all-time for y'all. If you want to know more ways, check our big article on how to buy bitcoin and other cryptocurrencies in Canada.

How Crypto Exchanges Are Regulated In Canada?

While cryptocurrency laws and regulations are all the same being ironed out, Canada has acknowledged its growing use and has published official

guidance

for clarity. For example, you must disclose sure cryptocurrency transactions in your revenue enhancement returns. In Canada, cryptocurrencies are regulated nether securities laws and they are not considered legal tender.

Which crypto exchange has the lowest fees in Canada?

At that place are a few different crypto exchanges that are popular in Canada, and each 1 has its own fee structure. Some exchanges charge higher fees for certain trades, while others take lower overall fees. You might think that Shakepay or Newton have the everyman trading fees in Canada because they are advertised as "no-fee exchanges". In fact, yous pay high spreads on your crypto trading activities. Later conscientious research, our team constitute out that Coinsmart is the lowest trading fee cryptocurrency app in Canada with
but %0.2 trading fees and free deposits over $2000.

What’south the best altcoin commutation in Canada?

The most reputable exchanges with the biggest option of altcoins for Canadians are Uphold (offering over fifty altcoins) and Newton (offering over twoscore altcoins).

Conclusion

Not all cryptocurrency exchanges are perfect, just if you keep these factors in mind, you’ll be able to find one that suits your wants and needs.

Oleg Galeev

Cryptocurrency Specialist

Oleg is a Canadian denizen & crypto skilful who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and beginning a Youtube aqueduct in order to educate Canadians on what kinds of things are going within each i while giving them unbiased communication. On pinnacle of that, Oleg likewise has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in pop Canadian media sources such as Toronto Lord's day and Ottawa Denizen.