Best Crypto Exchanges in Canada For 2024

Introduction of Canada Crypto Exchange

Finding out the best crypto exchanges in Canada can be a bit daunting for new traders who are finding their way in the trading space; they seek suitable trading platforms to trade digital currencies. The growing awareness and people preferring cryptocurrency have taken the world by storm with several reputable exchanges coming into play for different types of traders.

With this, several exchanges in Canada have come up with solid and unique trading experiences for their traders. Moreover choosing the best crypto exchanges in Canada is very important if you are interested in buying Bitcoin or would like to engage in cryptocurrency transactions. The Canadian trading market provides a wide range of popular cryptocurrency exchanges that accommodate the different needs of global users. These exchanges are uniquely tailored to the Canadian market by offering a safe and secure environment for investing as well as trading cryptocurrencies.

Key Takeaways

We will offer a list of the best crypto exchanges in Canada on this page covering key aspects such as –

  • The evaluation of regulatory compliance of the Canada crypto exchange to ensure that they are operated within legal frameworks.
  • Assess the trading platform’s user interface, demo accounts, and the features it offers for trading.
  • Examine the ease and efficiency of deposits and withdrawals for each listed exchange.
  • A deep and thorough evaluation of the trading costs & fee structures for trades carried out on each exchange.
  • Assessing the responsiveness and the quality of the customer support services team.
  • Checking the feedback on reputation and reviews offered by industry experts to make informed decisions.

List of The Best Crypto Exchanges in Canada 2024

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

Top 5 Crypto Exchanges in Canada

Canada stands out in the cryptocurrency world with a diverse array of leading cryptocurrency exchanges, each of them addressing distinctive user requirements. The Best Crypto Exchange in Canada offers specialized features and services, such as supporting Canadian fiat currency, customized banking solutions, and a wide range of digital currency offerings. Here, let’s dive into the top 5 cryptocurrency exchanges in Canada and uncover their unique features.

1. Bitbuy – Canada’s Secure and Trusted Platform

Bitbuy, one of the prominent crypto trading platforms in Canada, has already earned recognition with an impressive user base of more than 450,000 registered users. This platform has executed trades exceeding CAD 6 billion and safeguards assets worth over 192 million CAD. This platform is preferred by both new and experienced traders, as it boasts a user-friendly interface catering to all levels of traders in the cryptocurrency sphere. Moreover, with features such as Express Trade, Pro Trade, Staking, Private Wealth, OTC Desk, and Corporate & API Solutions, Bitbuy offers a wide range of products empowering individuals to venture confidently into digital asset investments. This Bitbuy review explores the platform’s diverse features, reaffirming its status as a secure choice in the Canadian cryptocurrency market.

Bitbuy
Source: bitbuy.ca

Why We Chose It?

We have chosen Bitbuy as our preferred cryptocurrency exchange in Canada because of its seamless and secure trading process. You as a trader can purchase Bitcoin, Ethereum, and other cryptocurrencies within minutes, starting from a minimum of $50, with faster deposits and withdrawals in Canadian money. This can be done via Interac e-Transfer, Bank Wire, Debit, or Credit Card, this platform facilitates easier and more convenient transactions for users. Additionally, if you are an experienced trader, you can leverage the live order book feature on Bitbuy Pro Trade, where you can execute trades swiftly, along with fast automated trading using the Bitbuy API.

Key features

  • Bitbuy complies with FINTRAC regulations and ensures compliance with regulatory standards which brings trust among users.
  • As this platform caters to a diverse user base, Bitbuy offers user-friendly options like Express for beginners and Pro for advanced traders, which prioritizes accessibility and ease of use.
  • With Bitbuy, you get a wide selection of popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, and many other cryptos, offering traders a diverse range of options to trade.
  • With 24/7 customer support, Bitbuy helps traders with quick responses to any inquiries, which displays a commitment to dedicated, exceptional customer service and satisfaction.
  • Also, the Pro option on Bitbuy facilitates both market and limit orders and offers traders enhanced flexibility in executing their trading strategies.

Pros

  • Bitbuy accepts Interac deposits thereby streamlining user transactions
  • The platform provides access to over 15 popular cryptocurrencies for trading
  • Compared to other exchanges, this platform charges a low fee of 0.20% per transaction, thereby enhancing cost-effectiveness for users
  • Bitbuy is suitable for beginners because of its user-friendly interface and ease of use
  • Traders can benefit from dedicated and personalized assistance from the customer support team for their queries.

Cons

  • Bitbuy offers a limited range of cryptocurrencies when compared to other platforms, thereby limiting options for users interested in trading a wider variety of digital assets

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2. Kraken – Most Trusted Crypto Exchange in Canada

Kraken was established in 2011 and it stands as one of the premier crypto trading platforms in Canada, known for regulatory compliance and commitment to security. This platform provides a comprehensive range of over 200 cryptocurrencies, which includes support for margin and futures trading. It also addresses the diverse needs of its customers, boasting a global user base of more than 10 million.

According to the Kraken review, the exchange is well known for its strong cybersecurity measures and ensures users a secure and confident trading environment. This platform offers 24/7 global support, competitive fees as low as 0%, a user-friendly interface helpful for new traders, and much more. Because of these features, Kraken remains the best choice for Canadian crypto traders seeking a reliable and feature-rich trading experience.

Kraken Crypto Exchange
Source: www.kraken.com

Why We Chose It?

We chose Kraken as our preferred cryptocurrency exchange because of its great reputation as Canada’s most secure platform, offering a wide array of cryptocurrencies such as BTC, ETH, Bitcoin Cash, and more. Some of the key factors influencing our decision included Kraken’s user-friendly interface, strict security measures, competitive trading fees, and efficient handling and execution of large transaction volumes.

Key Features

  • One of the main features is it offers Kraken Pro, which offers advanced spot, margin, futures trading, and crypto staking with its interactive interface. You can benefit from highly customizable modules, where you can customize the interface to your specific requirements also by accessing real-time market data for performance analysis.
  • Traders can explore the market on Kraken Pro enabling traders to search for diverse access to an extensive range of 210+ crypto assets, stablecoins, and fiat currencies, where you are offered ample options for trading, staking, and investment.
  • With Futures Trading, Kraken Pro provides flexibility for experienced traders where they can engage in long and short positions with capital efficiency, supported by low and competitive fees starting from 0.01%.
  • With Kraken, you are assured safety and reliability and it prioritizes top-notch security measures to ensure a safe trading environment for its users.
  • With Kraken, User Experience is highly regarded, with several users reporting smooth trading experiences and quick resolution of any issues they encounter, thereby enhancing overall user satisfaction.

Pros

  • This Canada Crypto Exchange hosts a simple user interface, catering to both new as well as experienced traders.
  • The platform provides access to over 15 popular cryptocurrencies for trading.
  • It offers high liquidity and tight spreads, optimizes trading efficiency, and potentially reduces costs for traders.
  • You can get access to a wide variety of cryptocurrencies with more diversified trading options.
  • This platform provides advanced trading features such as margin trading, futures trading, indices, OTC trading, and staking for the diverse needs of experienced traders.
  • One of the major advantages is offering low fees to make trading cost-effective and appealing for users.

Cons

    • The exchange does not offer a wide range of payment methods for users, which limits options for funding accounts.
    • Not great support is offered for fiat currencies, which may present challenges for traders who prefer to trade with certain fiat currencies.
    • It does not offer personal wallet service which may inconvenience traders who rely on this feature for storing their cryptocurrencies securely.

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3. Coinbase – Most Trusted Cryptocurrency Exchange Canada

Coinbase is one of the best crypto exchanges in Canada, that maintains a rigorous compliance program for safeguarding trust and security in the cryptocurrency ecosystem. As per our Coinbase review, with a quarterly trading volume exceeding an impressive $145 billion, this platform demonstrates its strong presence in the digital asset market. It serves users in over 100 countries, and offers its services globally, catering to a diverse range of traders.

With assets worth a remarkable $130 billion on its platform, Coinbase exceeds both reliability and growth in the cryptocurrency industry. With its innovative compliance measures and cutting-edge technology, Coinbase sets the benchmark for major asset listings, service offerings, and user accessibility, which prioritizes safety and compliance above all else.

Best Crypto Exchanges in Canada For 2024
Source: www.coinbase.com

Why We Choose It?

We selected Coinbase for its wide range of products that are designed to cater to various traders. The primary Coinbase exchange features a user-friendly layout that facilitates easy navigation making it suitable for individuals with diverse levels of cryptocurrency knowledge. If you are a trader, seeking a non-custodial solution, it provides a wallet that offers a convenient option for on-the-go trading. Also, advanced trade caters to more experienced users, and provides additional tools and heightened security measures. Furthermore, traders are offered a flexible fee structure, which can be further discounted based on transaction volume and tier, enhancing its attractiveness to users.

Key Features

  • Coinbase is a crypto trading platform in Canada that allows users to monitor and manage API transactions efficiently.
  • You can get real-time alerts and notifications, which helps to keep informed of important activities as they come.
  • Also, you can easily trade various cryptocurrencies directly on the platform.
  • With Coinbase you can seamlessly send and receive cryptocurrencies between peers ensuring smooth transactions.
  • It offers secure storage solutions for storing cryptocurrencies, also prioritizing the safety and protection of your digital assets.
  • This platform provides an organized display of important data, which facilitates easy navigation for tracking transactions.
  • One of the leading exchanges prioritizes security, employing robust measures to protect user accounts and funds from cyber threats. This commitment provides users with peace of mind, knowing their assets are secure.

Pros

  • It provides an easy user interface. Users can integrate with the free Coinbase wallet app for secure storage of cryptocurrencies.
  • Coinbase accepts major cryptocurrencies as well as fiat currencies, thereby providing flexibility in funding options.
  • Coinbase Advanced Trade, an exclusive platform is tailored for advanced traders who are looking for enhanced features.
  • The Coinbase mobile app replicates the features of the desktop platform, allowing traders to trade on the go.
  • This platform offers high liquidity and provides a wide range of altcoins, catering to traders of different experience levels.

Cons

  • Coinbase is restricted in certain countries, where there is limited accessibility for users.
  • This platform offers a limited selection of altcoins for traders, restricting trading opportunities for certain users who need variety.

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

Established in 2016, Crypto.com is headquartered in Hong Kong, and is a well-known premier crypto exchange in Canada and operates as a cryptocurrency exchange. This platform offers a user-friendly mobile app where you can buy, sell, and exchange different digital currencies and trade on the go. The platform offers a wide selection, with over 250 cryptocurrencies and 20+ fiat currencies, and also a robust marketplace for Non-Fungible Tokens (NFTs) as well.

Crypto.com has a global user base exceeding 80 million and with a presence in 90 countries, it ensures high liquidity across varied market conditions. Furthermore, on a global scale, this platform is well known for securities notifications and regulatory compliance. You can access decentralized finance (DeFi) protocols through the platform’s browser extension and manage your DeFi activities via either the DeFi app or a desktop wallet. For an extensive overview of the platform’s features, fees, and security measures, dive into our comprehensive Crypto.com review.

Crypto.com- Fastest Growing Crypto Exchange
Source: crypto.com

Why We Choose It?

The platform provides a cryptocurrency card with unmatched benefits, unique trading tools, an excellent user interface, a wide range of cryptocurrencies for trading, and a recurring buy option. This includes the opportunity to earn cash back on all transactions made using the crypto.com Visa card, along with no annual fees. This crypto card offers a seamless user experience tailored for individuals who value rewards, aesthetics, and versatility in their financial tools.

Key Features

  • The platform offers more than 200 cryptocurrencies with competitive fees.
  • You can engage in margin trading, and use the borrowed funds for cryptocurrency trading.
  • The platform’s spot trading enables you to buy and sell cryptocurrencies on specified dates.
  • Derivatives trading, allows you to speculate on price movements without owning the assets.
  • You can pair with other cryptos to exchange different cryptocurrencies.
  • You are offered a user-friendly interface and trade via both a mobile application and a desktop platform.
  • The platform offers high liquidity due to the platform’s large user base.
  • Users are offered incentives with discounts for locking up the native token, Cronos (CRO).
  • Transfers between the app and the exchange are seamless and free.
  • During traders, immediate execution at the best available price is carried out albeit with taker fees.

Pros

  • This platform simplifies currency exchange processes.
  • You are rewarded with cashback benefits.
  • It offers opportunities to earn interest on your crypto holdings.
  • You can save money on annual and ATM charges.
  • You are offered great customer support services.
  • Does not charge monthly maintenance fees, saving money.

Cons

  • In certain regions, there are limited availability of certain coins.
  • Navigation will be difficult for certain users.
  • There are restrictions on specific crypto withdrawals which may limit flexibility
  • Some processes have short timeframes, which might cause inconvenience.

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5. Gemini – Most Secure Crypto Exchange in Canada

Gemini had emerged as the best crypto exchange in Canada, distinguished by its well-developed and user-friendly interface. Headquartered in the US, this platform is celebrated for its strong security protocols and advanced trading functionalities offered to its traders. This platform holds the distinction of being the world’s first SOC 1 Type 2 and SOC 2 Type 2 compliant crypto exchange and custodian, it places great importance on user safety. Having its presence across 52 states, including New York, offers support for seven fiat currencies, competitive interest rates, and an intuitive mobile app. Gemini is an attractive option for novice and experienced crypto traders who are looking for different trading options. In our detailed Gemini review, we have considered its platform features, fee structures, security measures, and other important aspects.

Gemini - Most Secure Crypto Exchange
Source: www.gemini.com

Why We Chose It?

Want to know why we have chosen Gemini? This is because of its status as a regulated crypto trading platform in Canada. Headquartered in New York, USA, established by the Winklevoss twins, this platform instills confidence in its legitimacy and safety. As one of the leading cryptocurrency exchanges in the USA, Gemini is equipped with strong security measures, such as multi-signature withdrawal, cold wallet storage, two-factor authentication, and encryption, which helps safeguard user information and funds. Its intuitive interface, availability across 52 states, and competitive interest rates contribute to Gemini’s standing as a preferred platform.

Key Features

  • You can conveniently purchase BTC or ETH with a simple click on Gemini using Google Pay and Apple Pay.
  • Gemini has partnered with Flexa, a well-known crypto payment processor, to facilitate crypto payments. Popular retailers such as Gametop, Nordstrom, Home Depot, and Whole Foods now accept crypto payments through Flexa, marking a significant adoption step for digital currencies.
  • Gemini is also recognized for its exceptional security measures, making it a trusted cryptocurrency exchange. It is a regulatory-compliant platform, in the United States, ideal for trading Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and more.
  • Gemini provides unbeatable customer service with access to a responsive customer support team. You can expect quick email responses during American business hours and have the option to escalate issues with the New York Customer Service Center.

Pros

  • Gemini is known for its exceptional security protocols and strict regulatory compliance measures.
  • The exchange offers great assurance of FDIC insurance for US Dollar deposits, which enhances user confidence.
  • Gemini offers a high-end user experience to its clients.
  • One of the major pros is that the platform provides a credit card option with no annual fee, fee reduction benefits, and free deposits, adding value to its users.
  • Gemini is known for its dedicated helpful customer support, ensuring user satisfaction.

Cons

  • This platform has limited options for depositing funds.
  • Gemini’s coin selection is restricted when compared to other platforms.
  • The registration process may be lengthy and demand more information from users, causing inconvenience.
  • Limited coins are available in the highly secure hot wallet, restricting users’ choices for immediate access.

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Comparing The Best Crypto Exchanges in Canada

Crypto Exchanges Available Coins Fees Minimum Investment
Bitbuy Crypto Exchange BTC, ETH, SOL, LINK, LTC, XLM, TOM, ALGO and more Maker – 0.10%
Taker – 0.20%
$50

 

Kraken Crypto Exchange BTC, ETH, USDC, USDT and more Starting at 0% $1
Coinbase Crypto Exchange BTC, ETH, USDT, LTC, SOL, MATIC, DOGE, SHIB and more Fees are calculated based on the chosen payment method, order size, market conditions, and jurisdictional location

 

$2
 Crypto.com Crypto Exchange 350+ cryptocurrencies Low  

$200

 

 Gemini Crypto Exchange 80+ cryptos  

Flat 0.5% above the current trading price

 

Not applicable

Disclaimer: The fee structure may vary based on trading volume. Rates are subject to change and can fluctuate according to the market conditions.

Cryptocurrency Law and Regulations in Canada

Did you know that in Canada, securities law predominantly operates under provincial jurisdiction, with each province having its own securities regulator? Moreover, Canada has emerged as a pioneer in cryptocurrency regulation, with key regulatory bodies such as securities commissions and FINTRAC playing important roles in shaping the regulatory framework. 

Notably, the Crime (Money Laundering) and Terrorist Financing Act regulations that businesses engaging with cryptocurrencies must register with FINTRAC and should comply with rigorous reporting compliance protocols. The Canadian Securities Administrators (CSA) acts as a unifying entity and helps to standardize securities regulations across the country. 

Regulatory bodies such as the Autorite des marches financiers (AMF) in Quebec and the Ontario Securities Commission (OSC) in Ontario, along with other provincial regulators, make the exchanges adhere to guidelines concerning cryptocurrency assets. When evaluating the best crypto exchanges in Canada, this is an important factor to follow these regulatory considerations to ensure a secure and compliant trading environment.

Our Methodology

With research and analysis, you can follow a strong methodology to generate reliable and insightful outcomes. Some of them include a thorough and systematic approach, using tools and frameworks to collect, assess, and interpret data effectively, and achieve research objectives. Our methodology ensures the credibility and validity of findings, offering an indispensable component of the study.

  • Basic And Advanced Trading Features: We have started with evaluating the range of trading tools available for all user levels, for inclusivity and functionality.
  • Speed Of Execution: We have assessed the platform’s ability to quickly execute trades to quickly capitalize on market movements efficiently.
  • Educational Resources: We reviewed the platform’s educational materials that help and support traders to enhance their knowledge and skills.
  • Customization Options: We have examined the degree of customization options allowed on the platform to customize the trading experience for individual preferences.
  • Fee Structure: We have analyzed the transparency and competitiveness of the fee structure to ensure cost-effectiveness for users.
  • Safety and Security Measures: We have scrutinized the security protocols and measures implemented by the exchange to safeguard users’ funds and personal information.
  • User Feedback: We have checked the customer reviews to gauge the platform’s performance and user satisfaction levels.
  • Customer Support Services: We assessed the responsiveness and effectiveness of customer support in addressing user queries/concerns.
  • Ease of Deposit And Withdrawal: We have evaluated the easy and convenient way of depositing and withdrawing funds on the platform.
  • Range Of Products: We reviewed the variety of cryptocurrencies and trading pairs offered to traders to cater to their diverse trading preferences.
  • Real-Time and Live Market Feeds: We checked whether the platform offers accurate real-time market data and live market feeds to support informed decision-making.
  • Platform Availability: We have checked the accessibility of the platform across different devices needed for seamless trading experiences.
  • Platform Usability (Desktop and Mobile): Evaluation of user-friendliness and functionality of the platform on both desktop and mobile devices for enhanced trading.

Conclusion About Top Crypto Exchanges Canada 2024

In summary, our comprehensive evaluation of the best cryptocurrency exchanges in Canada for 2024 underscores the careful consideration of essential factors including trading features, execution speed, educational resources, customization options, fee structures, safety measures, user feedback, customer support, deposit and withdrawal processes, product variety, market feeds, and platform usability. This assessment helps users to carefully consider platforms that offer a wide range of cryptocurrencies and trading pairs and also prioritize security, user experience, and support services. By addressing these important aspects, the best cryptocurrency exchanges in Canada for 2024 are well-positioned to cater to the various needs of traders in expanding the cryptocurrency community, thereby instilling trust and satisfaction among users.

FAQs on Top Crypto Exchanges in Canada

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.

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.

What are the fees associated with using a Canadian crypto exchange?

The fees associated with using a Canadian cryptocurrency exchange can fluctuate depending on the exchange and the nature of the transaction. Moreover, there are two main types of fees – trading fees and withdrawal fees.

How can I buy crypto in Canada?

In Canada, if you want to purchase cryptocurrency, it is facilitated through several online exchanges such as Coinbase, Binance, Bitbuy, and several reputed exchanges. Some of them allow users to buy and sell a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.

Do Canadian banks allow Bitcoin?

Yes, a few Canadian banks offer a chance for their customers to buy and sell cryptocurrencies. For example, Toronto-Dominion (TD) and the National Bank of Canada facilitate purchasing and selling cryptocurrencies through various methods, including e-transfer, credit/debit card, and wire transfers for their customers.

Disclaimer: This page does not solicit or recommend investments, nor does it provide trading or financial advice. Before investing in cryptocurrencies or engaging in securities trading, you should conduct thorough due diligence, including consultation with a certified financial advisor. We accept no liability for any financial losses incurred.

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