Navigating the cryptocurrency world as a beginner can be quite challenging. Finding the right apps and trading platforms to buy, sell, and trade cryptocurrencies is essential.
However, selecting the best apps to buy cryptocurrency in Canada is no easy task. With numerous cryptocurrency trading apps and platforms available, each offering different features, risks, and benefits, it becomes even more daunting.
Every app provides a unique user experience and possesses distinctive qualities that may cater to your needs better than others. Consequently, finding the perfect app for your requirements can prove to be a significant challenge.
The app you choose will greatly influence the ease with which you can buy and sell coins, the profitability of your trades, and even the likelihood of receiving a refund for your investment.
To assist you in making an informed decision, I have dedicated my time to thoroughly comparing the best apps to buy cryptocurrency in Canada. This article presents a comprehensive list of the top ten apps for buying cryptocurrency in Canada, covering important aspects such as fees, available coins, benefits, security measures, and more.
If you seek user-friendly apps that allow you to conveniently buy, sell, and trade cryptocurrencies from the comfort of your home, I urge you to continue reading.
10 Best Apps to Buy Cryptocurrency in Canada
If you are looking for a safe and secure app to buy cryptocurrency, you are at the right place. We offer you this list of the ten best apps to buy cryptocurrency.
Each app is easy to use, safe and offers low trading commissions.
1. Bitbuy
Bitbuy is a Canadian cryptocurrency exchange founded in 2016 and based in Toronto, Ontario. It caters only to Canadian citizens and residents and only accepts Canadian dollars.
The exchange platform offers over 25 coins for you to exchange and an approachable user interface that is easy to navigate for new and experienced traders.
There is an Express Trade option for new cryptocurrency traders and a Pro Trade option for experienced traders who want additional features like limit trading and OTC accounts.
Features
- Supports 25+ cryptocurrencies
- Extremely low trading fees (0.1%)
- 99% cold storage policy keeps your crypto extra secure
- Easy to use for beginners and more advanced traders
- Powerful mobile app
- Excellent customer support
Pros
- Approachable and easy-to-navigate UI
- Very high level of security
- Compliant with regulators
- Good customer support
Cons
- Only available in Canada
- Limited availability of cryptocurrencies and features
- Advanced KYC information is required for account creation
- Lacks earning protocols and tools
- Fees and minimums on deposits and withdrawals
2. Coinsmart
Coinsmart is a leading cryptocurrency exchange in Canada. It was founded in 2018 and is based out of Toronto, Ontario.
The exchange platform offers 16 cryptocurrencies for trading. Unlike other exchanges, Coinsmart provides the option of direct trading pairs between the different cryptocurrencies.
Coinsmart offers a 2FA security protocol for all its users. It is available in over 40 countries and fully complies with OSC and FINTRAC as an MSB.
Coinsmart has an easy and quick registration process with daily deposit processing.
Features
- Supports 16 cryptocurrencies
- Extremely low trading fees (0.2%)
- Instant account verification
- 95% cold storage policy keeps your crypto extra secure
- Immediate deposits and withdrawals
- 24/7 customer support available via phone, live chat, or email
- User-friendly for both beginners and advanced traders
- Registered Marketplace by the OSC
Pros
- Available in 40+ countries
- 24/7 customer service
- Quick registration
Cons
- No earning features
- Fees on fiat withdrawals
- Fees on cryptocurrency withdrawals
3. Wealthsimple Crypto
Wealthsimple added Wealthsimple Crypto to its platform in 2020. It is one of the best apps to buy cryptocurrency in Canada.
Wealthsimple is a Canadian company available only to Canadian residents. It has an easy-to-use trading platform with no fees for fiat deposits and withdrawals and offers nearly instant deposit speed.
Wealthsimple is easy to use and access for new traders, and you have access to over 55 crypto coins and tokens.
Features
- Supports 55+ coins
- It has a third-party custodian for cold storage insurance
- No fees for depositing or withdrawing funds
- Beginner-friendly user interface
- No account minimums
- Has a spread of 1.5-2%
Pros
- Quick sign-up
- Easy to use
- Offers a crypto wallet
- No hidden fees
- 24/7 customer support
Cons
- No crypto trading pairs
- Only accepts CAD
- Withdrawal limitations
4. Newton
Newton is one of the best crypto trading platforms in Canada, founded in 2018 and based in Toronto. It offers a wide range of crypto coins with a near-zero commission.
Newton boasts over 75 different crypto coins with over 100,000 users and signs of continued growth in the Canadian crypto market.
Newton exchange is secured by a third-party storage partner called Balance. It is a low-cost trading platform that operates on a spread. It is also available on web and desktop apps with an approachable user interface and instant verification.
Features
- Supports 75+ cryptocurrencies
- Zero trading fees
- No deposit/withdrawal fees
- Reasonable spreads (typically 0.2% – 0.7%)
- Well-rated mobile app
Pros
- Friendly, approachable UI
- Zero funding and withdrawal fees for fiat
- Daily off-site backups
- Compliant with Canadian regulations
Cons
- Currently only available in Canada
- Lack of advanced trading options
5. KuCoin
KuCoin is one of the best crypto exchanges with over 600 listed crypto coins. The variety of coins on the platform makes it one of the best apps to buy cryptocurrency in Canada.
KuCoin has over 10 million users worldwide and almost US$750 billion daily trading volume. It has a social platform where you can interact with global investors and access timely crypto news.
KuCoin offers a desktop and mobile trading app, allowing you to access your crypto trading account to create a diverse trading experience.
Pros
- Low fees
- Solid user base (10 million-plus)
- Robust selection of cryptocurrencies (600+)
Cons
- KuCoin is not licensed in America
- Intimidating UI for cryptocurrency beginner
- No fiat deposits
6. Coinberry
Coinberry is one of the best crypto trading apps, founded in 2017 and based in Toronto, Ontario. With over 25 cryptocurrencies and excellent referral reward programs, it has become one of Canada’s best apps to buy cryptocurrency.
Coinberry is Canada’s most compliant cryptocurrency exchange and the first to be regulated across Canada. It offers an easy-to-navigate and approachable interface for beginners to exchange cryptocurrencies and utilizes its services.
Features
- Instant account verification
- Supports 18 cryptocurrencies
- Live, helpful customer support
- Auto-purchase functionality (dollar-cost averaging)
- Cold storage provided by Gemini
- Excellent mobile app
Pros
- Coinberry Pay
- Competitive prices
- Quick sign-up
- 0% deposit and withdrawal fees
- First fully regulated exchange in Canada
Cons
- Limited customer service options
- Lack of earning tools (staking, farming, lending)
- Only available in Canada
7. Binance
Binance exchange is an excellent platform to trade cryptocurrencies. It was founded in 2017 and launched its Binance Smart Chain (BSC) in 2020.
The BSC operates as a blockchain network enabling the running of innovative contract applications. Binance offers many financial instruments you can take advantage of, including a vast number of coins and trading pairs.
RELATED: Is Binance Legal In Canada?
Pros
- 500+ cryptocurrencies offered
- A vast selection of trading tools and DeFi instruments
- 1,000+ trading pairs
- Over 90% of holdings are held in offline cold storage
Cons
- Regulatory legal challenges around the globe
- Difficult to navigate for new users
- A history of successful hacks on the exchange
8. Shakepay
Shakepay is one of Canada’s popular exchange platforms. If you want to buy Bitcoin or Ethereum, Shakepay is the perfect fit.
With over 800,000 users, Shakepay offers a commission-free platform for buying and selling cryptocurrency, and signing up takes only 10 minutes. Shakepay also offers incredible earning methods like referrals, cashback, and ShakingStats.
However, the exchange is only available to Canadian residents.
Pros
- Low fees
- Straightforward user design
- Government-regulated
- Price spread of 1–3%
- Unique earning features like cashback and ShakingSats
- Responsive customer service
Cons
- Minimal features
- Limited cryptocurrency options
- Only available in Canada
9. Crypto.com
Crypto.com has become one of the world’s largest cryptocurrency exchanges since its launch in 2016. Crypto.com is headquartered in Hong Kong but is available all over the world. It has over 10 million active users around the globe.
Crypto.com offers a comprehensive trading platform, a non-custodial wallet, borrowing and lending services, crypto payments, and more.
Its user interface is sleek, friendly, and easy to navigate for new and experienced cryptocurrency investors. It offers several payment options to buy your first cryptocurrency assets.
Features
- Supports 100+ cryptocurrencies
- Average trading fees (0.4%)
- Free deposits from all cryptocurrencies
- Earn daily interest by staking your coins
- Allows up to 10x leverage
- Purchase newly-listed coins at up to 50% off
- Trade crypto derivatives (futures and options contracts)
Pros
- Clean and friendly user interface
- Security is a top priority
- There is a $750 million insurance fund
- Wide range of features, like lending, borrowing, crypto debit cards, and staking
Cons
- Support for certain cryptocurrency assets can be geographically restricted
- Customer service is rated poorly
- Withdrawal fees from exchange can be high
10. Coinbase
Coinbase is a crypto exchange platform launched in 2012 and based in San Francisco. The platform supports hundreds of digital assets, providing services like trading, spending, and earning.
Coinbase is the largest crypto exchange in the US. It has an advanced trading platform for experienced traders called Coinbase Pro. Here, it offers lower fees and more trading options.
Coinbase has a user-friendly user interface and is easy to sign up for, making crypto trading easy for beginners.
Pros
- It supports over 100 cryptocurrencies.
- Coinbase has an insurance fund.
- It has a Visa debit card.
Cons
- It had a hacking incident in October 2021.
- Customer service is slow.
- High trading fees compared to other exchanges.
What is a Cryptocurrency Exchange?
A cryptocurrency exchange is a trading platform where buyers and sellers can meet to trade crypto coins.
Cryptocurrency exchanges have relatively low trading fees but more complex interfaces, advanced performance charts, and multiple trade types, which may be difficult for new crypto investors to understand.
To buy cryptocurrency, you must have an account with a crypto exchange. You can use this account to make trades and buy and sell cryptocurrencies.
What to Look For in a Cryptocurrency App
Consider the following factors when choosing the best apps to buy cryptocurrency in Canada. Watch out for them as your selected app significantly impacts your trade.
- Trading fees: how much does it cost to buy and sell cryptocurrency? What you pay as fees will determine your long-term returns. While some apps charge a flat percentage fee, others charge a spread on the buy and sell prices. If the app’s trading fees are high, it will negatively impact your profits.
- Account security: Moving your coins from the exchange app into a secured crypto wallet for maximum protection is better. Ensure that the crypto exchange uses cold storage to protect your coins. Also, ensure the exchange has reasonable security measures, like 2FA and SSL, to protect your account.
- Supported coins: Over 10,000 crypto coins exist, so ensure that your platform supports the vast majority of the popular coins. And the more coins supported by the platform, the better.
- Customer support: How easy is it to reach customer service and get help or answers when needed? Do they have 24/7 customer support?
- Regulation: Ensure the app is licensed to operate, authorized, and has the required coverage. Crypto exchanges in Canada are not secured or regulated by the CIPF, but FINTRAC regulates them as MSBs.
- User interface: If you are a new trader, you should avoid crypto exchanges that are difficult to use. These exchanges may have additional features and freedom but are challenging to navigate as a beginner.
- Deposit and withdrawal option: Ensure the trading platform has funding alternatives suitable to your requirements. It will be good if they have bank transfers, crypto deposits, and Interac e-transfer. Also, check out the fees attached to each option.
Final Thoughts on Best Apps to Buy Cryptocurrency in Canada
As someone who has extensively researched and personally experienced various cryptocurrency apps in Canada, I am confident in recommending the best apps to buy cryptocurrency in Canada. These apps offer a seamless and secure platform for purchasing, selling, and trading cryptocurrencies right from the comfort of your home.
With features tailored to suit your needs and a wide range of available coins, these apps empower you to enter the exciting world of cryptocurrency easily. Whether you’re a beginner or a seasoned investor, finding the right app is crucial for maximizing profits and ensuring a hassle-free experience.
FAQs on Best Apps to Buy Cryptocurrency in Canada
What crypto app is best in Canada?
The best crypto app to buy and sell crypto in Canada is Coinsmart because Coinsmart offers access to multiple fiat deposits, low trading fees, advanced trading tools, and top security.
What is the best app to buy Bitcoin in Canada?
Bitbuy is the most established app where you can buy Bitcoin in Canada.
What is the best app to buy cryptocurrency in Canada?
CoinSmart is still the best crypto exchange in Canada. The app is easy to understand for beginners, offers great tools to advanced traders and has very low trading fees.
