Ultimate Guide to the Best Crypto Exchanges in Canada 2024

The ever-growing cryptocurrency marketplace and the rising awareness about digital assets among people have given various experts a reason to start their exchanges. As the number of choices increases, there comes the dilemma of choosing one from the bunch. Along with other marketplaces worldwide, Canada has also seen a rise in the number of the largest crypto exchanges, and most of these have a standalone cryptocurrency exchange platform.

Narrowing down to the ideal cryptocurrency exchange can seem tricky for a new user, especially if one’s idea of crypto trading is to buy Bitcoin. The niche user base across the country has paved the way for some of select best crypto exchanges in Canada.

List of Top Crypto Exchanges in Canada 2024

TOP CRYPTO EXCHANGES IN CANADA BEST FOR
Bitbuy Lowest Trading Fees
Coinberry Top Crypto Exchange
Kraken Most Trusted Crypto Exchange
Coinbase Easiest Crypto Exchange Platform
Crypto.com Fastest Growing Crypto Exchange
Gemini Most Secure Crypto Exchange

Best Cryptocurrency Exchanges in Canada: List

It is understood that no single platform can be treated as the winner among the best crypto exchange Canada platforms. Every platform brings its own unique set of features and functionalities to the table & caters to different groups of users. While specific to Canada, a few platforms for the Canadian market maintain their focus on Canadian citizens as their clientele. These popular platforms offer various Canada-specific features that further strengthen their user filtration.

These region-specific features include fiat currency as Canadian dollars, bank transfers for Canadian banks, buy and sell provisions, the ability to buy Bitcoin in Canada, etc. Trading fees, the safety of the crypto-platform, and other details such as digital currency and brokerage accounts are only some aspects where the industry competition is fierce. Here is the list of top cryptocurrency exchanges in Canada.

  • Bitbuy
  • Coinberry
  • Kraken
  • Coinbase
  • Crypto.com
  • Gemini

1. Bitbuy – Canada’s Secure and Trusted Platform

Founded in 2016, Bitbuy stands as Canada’s most secure and trusted platform for BTC, ETH, and various other cryptocurrencies, offering users a secure and trustworthy environment to engage in buying, selling, or trading digital assets. With Bitbuy, users can buy up to 9 cryptocurrencies; these include Bitcoin Cash, Ripple, & other crypto assets. The highly competitive and low trading fee structure makes Bitbuy one of the most affordable cryptocurrency exchange in Canada. Crypto investors can bring in large amounts of transactions and volumes at reasonable prices.

  • Bitbuy offers competitive and low trading fees for various trades and transactions.
  • Has dedicated mobile apps for both Android and iOS-based mobile devices.
  • Uses Canadian Dollars for deposits.
  • The possibility of a reward to earn Bitcoin efficiently.

Bitbuy – Best Canadian Crypto Exchange

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2. Coinberry – Top Crypto Exchange in Canada 

Similar to the previous platform, Coinberry is also based out of Canada. The crypto trading platform offers truly attractive features and services. Deposits and withdrawals are free of cost and are based on CAD. The Canadian crypto exchange offers instant wire transfers (up to a limited amount), while higher amounts can take a few business days. Coinberry aims to keep all financial transactions transparent and to maintain its reputation as a secure platform.

With various altcoins on the best crypto trading platforms, this can be regarded as one of the more renowned centralized exchanges in Canada. Selling and buying crypto becomes an easy task through their mobile app.

To start cryptocurrency trading, individuals need to complete the verification process of Canada’s crypto exchange (which can be done instantly or manually). The company also maintains a blog that has proved to be educational for new users and explains the details of this volatile domain.

  • There are no deposit or withdrawal fees charged from the users.
  • The centralized exchange is registered with trustworthy regulatory bodies.
  • The trading fee is quite low compared to other online platforms.

Coinberry - Top Cryptocurrency Exchange Canada

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3. Kraken – Most Trusted Crypto Exchange in Canada

Traders in Canada can start buying and selling their choice of cryptocurrencies from a range of 185 supported tokens on the Kraken exchange for as little as $10. Kraken, a leading Crypto Exchange Canada, is suitable for all kinds of traders, with more than 9 million registered users across 190 countries and more than $207 billion in daily trade volume.

Kraken, being a centralized crypto exchange in Canada, offers high trading limits and low-fee services. Its simple interface allows easy trading using mobile apps. Users can earn crypto rewards up to 24% annually by staking their assets on the platform. Another powerful feature is the Kraken Pro interface that offers spot and margin trading with low spreads, low latency API, and deep liquidity.

  • Charges transaction fees as low as 0%
  • 24×7 customer support via live chat for quick assistance
  • Personalized OTC service to execute large trades on the Kraken Trade Desk
  • Maximizes returns and leverages up to 50x with hedging of spot trades using crypto futures.

Kraken Crypto Exchange

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4. Coinbase – Most Trusted Cryptocurrency Exchange Canada

Traders can diversify their cryptocurrency portfolio using Coinbase, which is the easiest crypto exchange platform available in the Canadian market. With convenient portfolio management, traders on Coinbase can buy or sell popular cryptocurrencies on the user-friendly Coinbase interface.

The platform has more than 108 million verified users across 100 countries with a quarterly traded volume of Rs. 44,00,000 Cr. Coinbase crypto exchange platform is also suitable for beginners as it offers a plethora of learning resources such as Tips and Tutorials, Crypto Basics, Market Updates, and Guides to answer crypto questions.

  • Low minimum deposit requirement of $2
  • Coinbase Earn offers free Crypto in exchange for completing learning modules
  • Pays interest on specific stablecoins like USDC
  • Offers Coinbase Card, a prepaid Visa debit card linked to the Coinbase account balance

Coinbase Crypto Exchange

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5. Crypto.com – Fastest Growing Crypto Exchange in Canada

Crypto.com is one of the fastest-growing and best Canadian crypto exchanges that offers an extensive list of tradable assets at the lowest trading fees. It is the cheapest crypto exchange in Canada that is easy to navigate and offers the most beginner-friendly trading experience. There are over 250 cryptocurrencies available at Crypto.com, with over 25 fiat currencies that can be exchanged using a credit card, debit card, and bank transfers.

Moreover, the Crypto.com Visa Card offers 5% cashback on all expenditures with no annual transaction fees. Traders who deposit in crypto can earn rewards through Crypto Earn and get up to 14.5% p.a. on cryptocurrencies and up to 10% p.a. on stablecoins. Crypto.com offers deep-order liquidity in all crypto market conditions with complete transparency, security, and speed. Crypto.com has a user base of more than 50 million and insurance coverage of over $750 million.

  • Crypto.com metal Visa Card gives a 5% cashback on all spending with no annual fees.
  • Earn higher interest on cryptocurrency holdings than with other high-yield savings accounts.
  • Crypto.com supports over 250 cryptocurrencies with spot trading, advanced order types, and futures.
  • A competitive and transparent fee structure with multiple discounts available.
  • Crypto.com supports easy trading, swapping, and staking of crypto products.

Crypto.com Crypto Exchange CA

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6. Gemini – Most Secure Crypto Exchange in Canada

Gemini crypto exchange stands out as one of the most secure cryptocurrency exchange in Canada, providing a reliable platform to securely hold, buy, and sell cryptocurrencies. It is a great cryptocurrency exchange platform for beginners and experienced traders with some industry-leading trading and security features, a proprietary hot wallet, and the most responsive and user-friendly support centre.

Although Gemini has a relatively small number of tradable assets, the range of advanced trading tools and products, along with its strong security, sets it apart from other biggest Canadian crypto exchanges. All registered users at Gemini can earn $7 in Ethereum as soon as they get on board. Some notable features of the Gemini crypto exchange in Canada include SOC certification, insurance coverage, hardware security keys, and regular cybersecurity audits by the New York Department of Financial Services.

  • Unlike other best crypto exchanges in Canada, Gemini offers its products and services in all 50 US states and other parts of the world.
  • Ever since its launch, Gemini has put great emphasis on security to protect its clients’ assets.
  • Gemini is the first crypto exchange to achieve SOC 1 Type 2 and SOC 2 Type 2 compliance.
  • The Gemini credit card offers up to 3% rewards on every spending.
  • The platform offers over 75 cryptocurrencies and a hot wallet with insurance.

Gemini Crypto Exchange CA

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Which Are the Safest Crypto Exchanges in Canada?

In Canada, the best crypto exchanges that constantly shine regarding security and regulation include BitBuy, Kraken, Coinbase, and Gemini. These are the best crypto platforms with top-notch security measures such as two-factor authentication, encryption protocols, firewalls, and malware. In addition to this, they are heavily regulated by world-renowned trading authorities. For instance, Bitbuy is registered under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), ensuring the security and regulation of client information and funds.

What Type of Canadian Crypto Exchanges Are There?

Most crypto traders and investors in Canada use three types of crypto exchanges. Below, you will find the breakdown of the best Canadian crypto exchange based on the common types available –

Centralized Crypto Exchanges – Centralized crypto exchanges can be an authority or a company that operates crypto exchange and trading services. Traders can register on the cryptocurrency exchange in Canada, deposit money after creating a trading account, and make trades through a regulated central authority.

Decentralized Crypto Exchanges – Decentralized crypto exchanges do not have any central authority monitoring the exchange accounts and transactions. Traders, investors, buyers, or sellers directly deal with one another through the best crypto exchanges in Canada. These platforms simply serve as a medium for connecting potential buyers and sellers of digital assets. On decentralized crypto exchanges, digital assets are transferred between wallets when transactions occur. Hence, there is no need for traders on decentralized crypto exchanges to hold an account.

Peer to Peer (P2P) – Peer to Peer crypto exchanges are also quite common in Canada and operate similarly to decentralized exchanges, but a central authority still serves as an intermediary. The central authority releases the trader’s funds when each side makes a payment in a transaction.

How to Choose the Best Crypto Exchanges in Canada?

To choose an exchange to manage or trade cryptocurrency, individuals are recommended to traverse carefully through the exchanges and the specific cryptocurrency coins that they wish to sell or buy and store in their crypto wallet. If the purpose is only to buy and sell Bitcoin, the number of eligible exchanges is high. But for institutional investors, an analysis center, ways to integrate digital currencies, and an advanced app to invest and secure margins are crucial.

Beginners should pay good attention to the crypto platforms before investing in an article that can lose its value. More information can be gathered by visiting the respective websites and conducting one’s own research based on the unique offering each brand has.

Final Verdict About The Best Canadian Crypto Exchange in 2024

The cryptocurrency exchange list for a secure and safe crypto trading environment is long, and there is not one that ticks all the boxes. Canadian users can select many options to secure their assets and make trading easy through the desktop platform or the app. Ultimately, the best crypto exchanges in Canada depend on your unique needs, so thorough research is essential before making your decision.

FAQs

What Are the Main Features of the Best Crypto Exchanges in Canada?

The exchanges that can be considered among the best crypto trading platforms in Canada usually offer low trading fees with free features like withdrawals etc. A good user experience is also something worth considering.

Which Crypto Exchanges in Canada Have the Lowest Fees?

Many best Canadian crypto exchanges offer low fees (as low as 0.5% per trade). These low fees can be even lower for the individuals who become premium platform members. But, Bitbuy has the lowest fees of all.

How Do I Avoid Scams on Cryptocurrency Exchanges?

Users are advised to trade with government-regulated exchanges in their corresponding regions. Some platforms also provide the feature to limit the number of trades that can be done in a single day, eliminating the risk of high loss.

Is Coinbase safe in Canada?

Coinbase makes it simple and safe to sell and buy cryptocurrencies. Sign up and register with Coinbase and manage your crypto easily. It is available in 100+ countries around the world.

Which Crypto Exchanges are legal in Canada?

When choosing a crypto exchange in Canada, it is best to select a platform approved by relevant domestic bodies.

What is the Best Crypto Exchange in Canada?

The best crypto exchange in Canada depends on individual preferences. Some popular options include Bitbuy and Kraken. Consider factors like fees, security, and available cryptocurrencies for the best choice.

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