10 Best Crypto Exchanges in Canada for 2024

Are you ready to dive into the exciting world of cryptocurrency trading? As a fellow Canadian crypto enthusiast, I know the struggle of finding the perfect crypto exchange in Canada. With so many options out there, it’s hard to know which one to trust with your hard-earned money. But fear not because I’ve got you covered!

In this article, we will dive deep into the best crypto exchanges in Canada. I’ll discuss each crypto exchange’s unique features, pros, cons, security, user-friendliness, and trading fees. So whether you’re a seasoned trader or just starting out, get ready to embark on an informative and exhilarating journey.

So, if you’re tired of scrolling endlessly through a sea of options, unsure of where to turn, this is the guide for you. Get ready to discover the top crypto exchanges in Canada and unlock a world of exciting opportunities. Let’s jump right in!

The 10 Best Crypto Exchanges in Canada

Among the many cryptocurrency exchanges in Canada, a few stand out as the best. These exchanges have proven reliable, secure, and user-friendly, making them the go-to choices for seasoned traders and newcomers. 

These platforms have everything from robust security measures to competitive trading fees and a seamless user experience. 

I have compiled the best crypto exchanges in Canada, exploring their standout features, unique offerings, and why they have earned their stellar reputations. 

1. Overall Best: Newton Canada

When it comes to the best crypto exchanges in Canada, Newton takes the top spot. With a diverse range of over 60 coins, including popular options like Bitcoin, Ethereum, and Dogecoin, and lesser-known ones like AXS, OMG, ZEC, FTM, SHIB, GRT, SAND, CHZ, and UMA, Newton offers a wide selection for traders. 

Its user-friendly interface sets Newton apart, catering to beginners and experienced investors. Not only does Newton prioritize security by utilizing cold storage for storing coins, but it is also a registered member of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and complies with the Personal Information Protection and Electronic Documents Act (PIPEDA). 

Whether you prefer accessing Newton through the web or mobile apps, the platform offers a seamless and convenient trading experience.

• Trading Fees: No commission for depositing or withdrawing fiat or crypto, but charges a price spread of 2.00% on buy and sell trades.
• Funding: Interac e-Transfer, bank wire, and crypto deposits.

Why We Recommend Newton Canada

• Supports 55+ coins
• FINTRAC member
• Low trading fees
• Cold storage

Why We Don’t Like Newton Canada

• Limited coin selection compared to some other exchanges
• Limited trading features
• Customer support response time is long
• Only available in Canada
• No advanced charting tools

Learn more on my Newton Canada Review. 

2. Best for Beginners: Bitbuy

Established in 2016, Bitbuy holds a significant position as one of Canada’s oldest and most trusted crypto exchanges. 

Over the years, it has facilitated trading of more than $4 billion in digital assets, earning a reputation for reliability and security. 

As a Registered Marketplace designated by the Ontario Securities Commission (OSC), Bitbuy offers a safe environment for crypto trading. With support for a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Stellar, Bitcoin Cash, AAVE, Chainlink, Litecoin, and others, Bitbuy provides users with ample options to explore and invest in the ever-evolving world of digital currencies.

• Bonus: Get $40 free when you make a first deposit of $250 or more.
• Trading Fees: 1.5% for trading fees and 1.5% on fiat withdrawals. However, crypto withdrawal fees vary.
• Funding: Interac Transfer, crypto deposits, and bank wire.

Why We Recommend Bitbuy

• Supports 15 cryptocurrencies
• Designated as a Registered Marketplace
• Beginner-friendly
• Intuitive mobile app
• A reliable customer service team
• 95% cold storage

Why We Don’t Like Bitbuy

• Limited coins selection compared to other exchanges
• Higher trading fees compared to other exchanges
• No margin trading
• Slower customer support response time

Learn more on my Bitbuy Review

3. Best for Altcoins Trading: Crypto.com

Crypto.com is the perfect choice for Canadian investors seeking to purchase altcoins and explore new cryptocurrencies. With an impressive selection of over 150 cryptocurrencies, Crypto.com stands out as one of the best crypto exchanges in Canada. 

Not only can you buy and sell a wide range of digital assets, but you can also engage in futures contracts, options trading, and even stake your coins for interest. 

The platform prioritizes security, investing heavily to ensure a safe trading environment. Moreover, day traders benefit from real-time price updates, giving them a competitive edge. 

Although Crypto.com is not based in Canada, residents of Canada can still access its services and even apply for a Crypto Visa card. With exciting features like staking rewards, DeFi, and NFTs, Crypto.com provides a comprehensive and rewarding experience for Canadian investors. 

• Trading Fees: Up to 0.4%. However, it depends on your account tier.
• Funding: Debit card, credit card, bank transfer, and crypto deposits.

Why We Recommend Crypto.Com

• Over 100+ cryptocurrencies
• Free crypto deposit
• Futures and options contracts
• Up to 10x leverage
• Daily interest-earning (through coins staking)
• Up to 50% off for purchasing new cryptos

Why We Don’t Like Crypto.Com

• The complex user interface may be overwhelming for new users
• Charges withdrawal fees on certain transactions
• Limited fiat currency support
• Slower customer support response time

Learn more on my Crypto.com Review

4. Best for Fast Bitcoin Trading: Kraken

Established in 2011, Kraken is one of the oldest and most reputable cryptocurrency exchanges in the United States. It stands out for its extensive range of coins and highly competitive trading fees. 

What sets Kraken apart is its offering of advanced features like margin trading, futures trading, and a suite of advanced order types. 

Kraken provides two trading platforms: Kraken and Kraken Pro. While the basic Kraken platform may not have the lowest fees, experienced traders can take advantage of volume discounts and cost reductions on Kraken Pro. 

With a 12-year track record, Kraken has built a solid reputation and is a popular choice for advanced traders. The Kraken Pro interface offers comprehensive charting tools, customizable options, a wide selection of cryptocurrencies and trading pairs, and even the ability to stake assets for additional yields. 

To ensure a smooth experience, Kraken provides round-the-clock customer support to address any complications or inquiries that may arise.

Why We Recommend Kraken

• Sophisticated features are available on Kraken Pro, like margin trading and staking.
• A diverse selection of coins
• Good customer service options, including a chatbot and phone support.
• Relatively competitive withdrawal fees.
• Publishes a wide range of educational material on cryptocurrency.

Why We Don’t Like Kraken

• Kraken only accepts a select few fiat currencies.
• Time-consuming verification process
• Limited funding options

5. Best for Competitive Trading Fees: KuCoin

KuCoin is a prominent player in the cryptocurrency exchange world, offering its users an extensive range of altcoins. With its diverse selection of coins, KuCoin provides access to a wide library of digital assets, allowing traders to explore various investment options. 

What sets KuCoin apart is its low fee structure, allowing users to trade with cost-efficiency. While KuCoin has gained popularity in regions such as Asia, Europe, the Middle East, and Africa, it is important to note that the platform is headquartered in Seychelles. 

While users from the United States can access and utilize the trading platform, it’s worth mentioning that KuCoin is not currently licensed to operate in the U.S. 

KuCoin’s extensive coin offerings and competitive fees make it an appealing choice for traders looking to diversify their portfolios with altcoins. H

Why We Recommed KuCoin

• It has its own coins, KuCoin Shares (KCS) Token
• It offers advanced trading features
• It has a low fee structure
• Various altcoins available
• User-friendly interface

Why We Don’t Like KuCoin

• Limited fiat currency support
• Limited trading pairs
• Slower customer support response time

Learn more on my KuCoin Review

6. Best for Low Fees Trading Fees: CoinSmart

CoinSmart is a leading cryptocurrency exchange in Canada that offers a range of features and benefits for buying crypto. Established in 2018 and headquartered in Toronto, CoinSmart has quickly gained recognition in the industry. 

With support for a variety of digital assets, including popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple, as well as emerging tokens like Shiba Inu and Uniswap, CoinSmart provides users with a diverse selection of options for their investment needs. 

One of the standout features of CoinSmart is its low trading fees, making it an attractive choice for cost-conscious traders. With a 0.20% trading fee, users can enjoy cost-effective transactions while accessing a secure and reliable platform. CoinSmart prioritizes security, boasting 95% cold storage to protect user funds.

Furthermore, CoinSmart has earned recognition from regulatory authorities. The Ontario Securities Commission (OSC) has designated CoinSmart as a Registered Marketplace, adding an extra layer of credibility and assurance for users.

Why We Recommend CoinSmart

• Low trading fees
• Instant account verification
• 24/7 customer support
• Regulated by the Ontario Securities Commission (OSC)
• Fast deposits and withdrawals

Why We Don’t Like CoinSmart

• Limited coin selection
• Restricted in some countries and regions
• Limited payment options
• Slow customer response time

Learn more on my CoinSmart Review

7. Best for Intuitive Interface: NDAX

When it comes to finding the best crypto wallet with a user-friendly interface in Canada, NDAX emerges as a top contender. NDAX provides a seamless and intuitive experience and offers competitive trading fees of just 0.20%, making it one of Canada’s best low-fee crypto exchanges.

NDAX goes beyond affordability by supporting a diverse range of 28 cryptocurrencies. Popular options like Bitcoin, Ether, EOS, Litecoin, and USDC are available, along with emerging coins like MATIC, Shiba Inu, and Cardano. This extensive selection ensures that users have ample choices for diversifying their crypto holdings.

What sets NDAX apart is its accessibility across all devices. Whether you prefer trading on your desktop or on the go, NDAX caters to your needs. Its iOS and Android apps are designed to provide a seamless experience, ensuring you can conveniently manage your crypto assets from your mobile device.

For Canadians seeking a reliable and user-friendly crypto exchange, NDAX proves to be an excellent choice. Its diverse coin support, low trading fees, and mobile accessibility make it a standout option in the Canadian crypto market.

Why We Recommend NDAX

• Low trading fees
• Beginner-friendly interface
• Available on multiple devices
• Instant ID verification
• Strong security measures

Why We Don’t Like NDAX

• Only focused on Canadians
• Limited funding options
• Slow customer support response time

8. Best for Dollar-cost Averaging Trading: Coinberry

Coinberry is a top choice among cryptocurrency exchanges in Canada, particularly for those interested in dollar-cost averaging. 

Founded in 2017 and headquartered in Toronto, Coinberry has established itself as a reliable and secure exchange. With support for over 18 coins, users can trade without worrying about deposits or withdrawal fees in Canadian dollars (CAD). 

One of Coinberry’s strengths is its convenient funding option via Interac e-Transfers, simplifying depositing funds into user accounts. A standout feature is Coinberry Autopilot, which automates cryptocurrency purchases using dollar-cost averaging, a proven investment strategy highly regarded by users.

Trading fees at Coinberry involve a maximum 2.50% price spread per transaction, while fiat deposits and withdrawals are free of charge. 

Coinberry provides a user-friendly experience, supports a wide range of coins, and offers convenient funding options. These factors make it a reliable and secure choice for Canadian cryptocurrency traders seeking a platform that prioritizes reliability and security.

Why We Recommend Coinberry

• Extremely low trading fees (0% – 2.5%)
• Dollar-cost leveraging (auto-purchase)
• A reliable customer service team
• No deposit or withdrawal fees
• Instant account verification
• Excellent security measures

Why We Don’t Like Coinberry

• High trading fees
• Limited advanced trading features
• Limited funding options

RELATED: Coinbase Review 2024: Pros, Cons, Sign Up & Bonuses

9. Best for Security: Wealthsimple Crypto

Wealthsimple Crypto, the first government-regulated crypto trading platform in Canada, has made a significant impact since its launch on August 7, 2021. Despite higher trading fees, the platform excels in security and unique features.

Wealthsimple Crypto supports a diverse array of more than 50 coins, including popular cryptocurrencies like Bitcoin, Litecoin, Doge, Polygon, Shiba Inu, Ox, Aave, and Cosmos.

Wealthsimple Crypto caters to newbies entering the world of cryptocurrency investing and individuals seeking to trade stocks and Exchange-Traded Funds (ETFs) alongside digital assets. Wealthsimple Crypto provides multiple funding options, including bank transfers, debit cards, and external wallet crypto deposits for fiat currency addition.

While trading fees can reach 2% per transaction, deposits, and withdrawals are fee-free. Notably, the platform allows commission-free buying and selling of stocks and ETFs.

Why We Recommend Wealthsimple Crypto

• Commission-free trade
• Government-regulated exchange
• No account minimums
• A diverse selection of coins
• Access to stocks and ETFs
• High-level of security

Why We Don’t Like Wealthsimple Crypto

• Higher trading fees
• Not available to individuals outside Canada
• Limited advanced trading features

Learn more on my Wealthsimple Crypto Review

10. Best for Multi-coins Trading: Binance Canada

Binance Canada is widely recognized as one of the leading cryptocurrency exchanges in the country, offering an extensive range of over 350+ digital assets for trading. With highly competitive trading fees ranging from 0.02% to 0.10%, Binance Canada provides an attractive platform for users looking to engage in cryptocurrency trading.

You have multiple options to fund your Binance account, including bank transfers, crypto deposits, or Canadian crypto credit/debit cards. It’s worth noting that while Binance withdrew its services in Ontario due to provincial restrictions, it remains accessible to Canadian residents outside of Ontario.

Advanced traders can use Binance’s derivatives trading and staking options, offering additional opportunities to maximize their cryptocurrency investments. For spot trading, Binance charges competitive trading fees ranging from 0.02% to 0.10%, ensuring a cost-effective trading experience for users.

Binance Canada excels in its extensive coin selection, attractive trading fees, and additional features like derivatives trading and staking. These factors contribute to its popularity among novice and experienced cryptocurrency traders in Canada.

Why We Recommend Binance Canada

• Extremely low trading fees (0.02% – 0.10%)
• Extensive coins selection (over 350 coins)
• Multiple funding options
• Access to a global trading platform
• Advanced trading features like derivates trading and staking
• Offers Crypto loans, Credit cards, and Crypto wallet

Why We Don’t Like Binance Canada

• Unavailable in Ontario
• Advanced features may be overwhelming for new traders
• Limited fiat currency support

How We Chose the Best Crypto Exchanges in Canada

Choosing the best crypto exchanges in Canada involves carefully evaluating and considering various factors. 

While selecting the best crypto exchanges in Canada, we aimed to provide Canadian cryptocurrency traders with a list of trustworthy and reputable platforms to facilitate their trading journey. 

Hence, we conducted extensive research and analysis to assess each platform’s key features, such as the range of supported cryptocurrencies, trading fees, security measures, user experience, customer support, and regulatory compliance.

We compared the available options based on their reputation in the industry, user feedback, and the overall quality of services provided. Additionally, we considered the ease of funding and withdrawing funds and the availability of convenient payment methods for Canadian users.

Furthermore, we considered the platform’s trading tools, advanced features, and accessibility for beginner and experienced traders. We also considered the exchange’s track record, financial stability, and adherence to legal and regulatory requirements.

By carefully evaluating these criteria, we identified and selected the best crypto exchanges in Canada that offer a combination of reliability, security, competitive fees, diverse coin selection, and user-friendly interfaces. 

RELATED: How to Buy Cryptocurrency in Canada

How To Choose The Best Crypto Exchange For You 

Before diving into the exciting world of cryptocurrency trading, it’s essential to consider a few key factors that can greatly influence your experience and success. You should consider the following factors when looking for the best crypto exchange for your needs:

• Supported coins: When it comes to choosing the best crypto exchange for you, the number of supported coins plays a crucial role. With over 21,000 coins in the crypto universe, a platform supporting a wide range of assets is essential, especially if you’re interested in multiple cryptocurrencies. Selecting a crypto exchange that supports your favourite coin(s) to ensure you have access to the assets you want to trade is vital.
• Fees: When choosing a crypto exchange, assess transaction costs carefully. High trading fees can impact your returns. Opt for an exchange with low fees to minimize costs and maximize profits. Compare fees across exchanges to find the best deal when buying and selling cryptocurrencies, considering transaction and withdrawal fee variations.
• Deposit & withdrawal options: When choosing a crypto exchange, ensure it supports funding options that suit your needs and check for associated fees. Consider available payment methods like Interac e-Transfer, ATM deposits, bank transfers, PayPal transfers, credit/debit cards, and crypto deposits. Confirm your preferred payment method is accepted before deciding, as not all exchanges support all forms of payment.
• Account security: Ensuring the utmost security for your cryptocurrency assets is paramount. The safety of your coins directly impacts your returns. Verifying that the exchange you choose utilizes cold storage to safeguard users’ coins and provides robust privacy protection, account security, and insurance measures is crucial. Consider transferring your holdings from the exchange to a secure wallet for optimal security. Some reputable and secure crypto wallets in Canada include ZenGo, Binance (Trust Wallet), and Wealthsimple Crypto. 
• Regulation: When choosing a crypto exchange in Canada, it’s important to consider regulatory factors and asset protection. While CIPF protection is not currently available for crypto exchanges, it’s crucial to check if the exchange is licensed and regulated by federal or provincial authorities. Membership in regulatory bodies like FINTRAC and adherence to regulatory standards can provide added security and reliability. Ensure you confirm the exchange’s regulatory status and the types of asset protection they offer before deciding.
• User interface: When choosing a crypto exchange for beginners, prioritize user-friendly interfaces. Advanced platforms may be overwhelming with complex features and charts. Opt for an exchange that is simple, accessible, and easy to navigate for a smoother trading experience.
• Customer support: When choosing the best crypto exchange for you, consider the availability and quality of customer support. It’s crucial to check if the exchange provides clear information on how to contact their support team and when live responses are available. Look for a customer service team with expertise and experience in addressing customer concerns and offers multiple communication channels such as email and phone support.

What are Cryptocurrency and Crypto Exchange in Canada?

Cryptocurrency, also called crypto, is a digital asset designed to function as a medium of exchange. It utilizes cryptography to ensure secure transactions and regulate the creation of new units. In Canada, several platforms such as Binance, Bitbuy, and Coinsmart provide the opportunity to buy and sell cryptocurrencies like Bitcoin.

A cryptocurrency exchange is a platform where individuals can trade their traditional fiat currency for cryptocurrencies. Choosing the right exchange is paramount to ensure successful trading. Opting for a reputable and secure exchange is essential to safeguard your investments and confidently engage in transactions.

Final Thoughts on the Best Crypto Exchanges in Canada

After extensive research and personal experience, I’ve uncovered the best crypto exchanges in Canada for you. 

Whether you’re a seasoned trader or just starting out, these platforms offer a secure and reliable environment to buy, sell, and trade cryptocurrencies. 

Don’t miss out on the exciting opportunities in the crypto market. Take action now and choose the best exchange that suits your needs. 

Start your crypto journey today and make the most of the ever-growing digital currency landscape. Happy trading!

FAQs On the Best Crypto Exchanges in Canada

Can I trade crypto in Canada?

Sure! Over 10,000 cryptocurrencies are being traded across different parts of Canada.

Which is the best crypto exchange in Canada?

Newton Canada is the best crypto exchange in Canada because of its extremely low fees, high security, and over 55 coins.

Which Bitcoin wallet is best for Canada?

ZenGo, Binance (Trust Wallet), and Wealthsimple Crypto are some of the best Bitcoin wallets in Canada.

What banks allow you to buy Cryptocurrency in Canada?

TD Bank, Royal Bank of Canada, National Bank of Canada, Canadian Imperial Bank of Commerce, and Scotiabank support cryptocurrency in Canada.

What Crypto Exchange Does Not Charge Fees?

Robinhood Crypto charges no fees. Although Robinhood offers no-fee cryptocurrency trading, it offers only a few cryptocurrencies and doesn’t allow users to transfer their crypto assets off the platform. There are no fees for cryptocurrency trading.

Which Exchange Has the Most Cryptocurrencies in Canada?

Binance Canada has the most cryptocurrencies in Canada. It has the largest selection of coins of any platform, with 350+ coins and tokens.

What Crypto Exchanges are Legal in Canada

Bitbuy, NDAX, Binance Canada, Cryptom.com Canada, Newton Canada, VirgoCX, Coinbase, and Wealthsimple crypto, are legal in Canada.

What Crypto Exchanges Have the Lowest Fees in Canada

The crypto exchange platforms with the lowest fees in Canada are CoinSmart, NDAX, and Bitbuy.