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 select best crypto exchanges in Canada.
BEST CRYPTO EXCHANGES CANADA FOR 2023
|TOP CRYPTO EXCHANGES IN CANADA||BEST FOR|
|Bitbuy||Lowest Trading Fees|
|Coinberry||Top Crypto Exchange|
|Binance||Most Popular Platform For Trading Cryptocurrencies|
|Kraken||Most Trusted Crypto Exchange|
|Coinbase||Easiest Crypto Exchange Platform|
|Crypto.com||Fastest Growing Crypto Exchange|
|Gemini||Most Secure Crypto Exchange|
Best Crypto Exchange 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 account are only some aspects where the industry competition is fierce. The crypto trading platforms which can be regarded as the best Canadian crypto exchanges are listed below:-
Launched in Toronto, Bitbuy can be called one of the all-Canadian cryptocurrency exchanges that enable users to buy, sell, or trade crypto. 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 exchanges. 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.
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 largest 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 exchanges in Canada. Selling and buying crypto becomes an easy task through their mobile app.
To start trading, individuals need to complete the verification process of the best Canadian cryptocurrency 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 exchange is registered with trustworthy regulatory bodies.
- The trading fee is quite low compared to other online platforms.
Binance is one of the most popular trading exchanges in Canada that supports more than 350 cryptocurrencies for traders to buy, sell, trade, and store. Binance supports spot, margin, and strategy trading, along with Swap Farming and Binance OTC for liquidity and execution services. There are various ways through which traders on Binance can earn daily rewards on idle tokens, such as Binance Earn, Simple Earn, and Binance Pool.
They can also add liquidity to earn double through Liquidity Farming. Binance has more than 120 million registered users with a $38 billion daily trading volume. Additionally, traders can trade NFTs, grow their businesses with Binance Pay, and hold crypto funds to earn tokens.
- Trade BTC for free. Lowest trading fees for other crypto coins, starting at 0.10%.
- Binance secures transactions with encryption, SAFU, and personal access control.
- Earn daily rewards on idle BNB tokens.
- Mobile app support on multiple devices, including App Store, Android APK, Google Play, MacOS, Windows, Linus, and API
Traders in Canada can start buying and selling their choice of cryptocurrencies from a range of 185 supported tokens on the Kraken crypto exchange for as little as $10. Kraken 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 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.
Traders can diversify their cryptocurrency portfolio using Coinbase, which is the easiest crypto exchange platform available in the 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
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 cryptocurrency exchange 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.
Gemini crypto exchange is one of the most secure crypto exchanges in the US to 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 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 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.
- Platform offers over 75 cryptocurrencies and a hot wallet with insurance.
How to Choose the Best Cryptocurrency Exchange?
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 centre, ways to integrate digital currencies, and an advanced app to invest and secure margins are certainly crucial.
Beginners should pay good attention to the 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.
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.
What Are the Main Features of the Best Crypto Exchanges?
The exchanges that can be considered among the best crypto exchanges usually offer low trading fees with free features like withdrawals etc. A good user experience is also something worth considering.
Which Crypto Exchange Has the Lowest Fees in Canada?
Many crypto exchanges in Canada 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 amongst 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.
Which Crypto Exchange is best in Canada?
The best crypto exchange Canada is Bitbuy, and it keeps more funds in cold storage and has very low trading fees.