The crypto market experiences extreme boom-and-bust cycles, unlike other asset classes. Consider bitcoin’s over 70% price drop from October 2021 to December 2022, followed by a remarkable recovery surpassing its previous high. Investors often find themselves on edge due to crypto’s volatility. That’s why choosing a reliable crypto exchange in Canada is crucial. We’ve ranked the top platforms to help you navigate this dynamic market.
Top Crypto Exchanges in Canada? Find Out!
Kraken
Kraken, a top choice for Canadian crypto investors, boasts an impressive feature set, competitive fees, and a user-friendly experience catering to both crypto novices and veterans. Operating since 2011, Kraken’s longevity in the crypto sphere speaks to its reliability. Currently in the process of seeking CSA registration, Kraken’s commitment to compliance adds another layer of trust. Investors looking to minimize fees will find Kraken particularly appealing, as its fees span from 0% to 0.4%. While customer service is limited to chat and email, Kraken’s overall offering makes it a strong contender in the crypto exchange market. (Discover more about Kraken’s advantages and disadvantages.)
| Platform | Score | Coins | Advanced tools | Trading fees |
| Coinbase | 21 | 248+ | Yes | 0%-0.6% |
| Kraken | 20.5 | 240+ | Yes | 0%-0.4% |
| NDAX | 20 | 46+ | Yes | 0.20% |
| Netcoins | 20 | 40+ | No | 0.50% |
| Wealthsimple | 19 | 66+ | No | 0.5%-2% |
| Coinsmart | 18 | 16+ | No | 0.2%-0.4% |
| BTCC | 18.5 | 300+ | Yes | 0.30% |
| Newton | 16 | 70+ | Yes | 1%-1.6% |
| Crypto.com | 15.5 | 350+ | Yes | – |
| Gemini | 15.5 | 70+ | Yes | 0%-1.5% |
| Shakepay | 14.5 | 2 | No | – |
| Coinsquare | 14.5 | 53+ | Yes | 0.5%-2% |
| VirgoCX | 14 | 80+ | Yes | 0.5%-2.5% |
BTCC
Canadian investors can enjoy transparent pricing and consistent fees on Bitbuy, where orders are matched live instead of being routed to third-party dealers. With a score of 18.5 in December 2011, BTCC emerged as the first registered digital asset marketplace and restricted dealer of cryptocurrency assets, setting a precedent for exchanges in Canada.
- Pros:
- Trading fees of 0% to 3%
- Advanced trading tools via BTCC Pro Trade
- Staking options for select coins
- Registered with CSA & FINTRAC
- Canadian platform
Coinbase
Searching for the best crypto exchanges in Canada? Look no further than Coinbase. As one of the world’s leading platforms, it offers a seamless user experience, backed by its solid funding and public listing status. Recently registered with the Canadian Securities Administrators (CSA), Coinbase stands out with its intuitive features, educational resources, responsive customer support, and a wide array of coins to choose from. Whether you’re a crypto novice or a seasoned investor, Coinbase has got you covered. (Check out our comprehensive Coinbase review for more insights.)
NDAX
NDAX, a Canadian company, stands out for its exceptional user experience, offering a sleek and easily navigable website alongside highly rated iOS and Android mobile apps. When compared to Wealthsimple, NDAX takes the lead, catering more to advanced Canadian traders with its excellent and user-friendly investment platform. Plus, its low trading fee of 0.2% is an added bonus. (Discover the advantages and disadvantages of NDAX.)
Wealthsimple
Wealthsimple stands out as a top choice for crypto investing newcomers in Canada. Boasting a sleek and intuitive interface, the platform offers exceptional customer support and is CSA registered for added security. Plus, it simplifies tax filing and provides access to traditional investments like stocks, ETFs, and a robo-advisor service. Explore the benefits and potential drawbacks of Wealthsimple today.
Which Canadian Crypto Exchange Is Ideal for Beginners?
Wealthsimple stands out as the best crypto exchange in Canada for crypto newcomers. With a focus on security, it holds assets through Gemini Trust, insured for $200 million, giving new investors confidence. The platform boasts a user-friendly interface, allowing trades in 57 cryptocurrencies, and you can start investing with just $1. Wealthsimple makes it easy and secure to dip your toes into the crypto market.
What Is a Crypto Exchange and How Does It Work?
A crypto exchange is an online marketplace that enables the buying, selling, and trading of cryptocurrencies like Bitcoin, Ethereum, and other digital assets. Here, users can easily convert their traditional fiat currency into cryptocurrencies or trade one crypto for another, offering a seamless experience in the digital currency market.
Can Canadians Access and Use Coinbase?
Coinbase, a leading crypto exchange, is fully accessible in Canada. It stands out with its mobile app, secure wallet, and intuitive interface, offering a trusted platform for all users. A wide array of cryptocurrencies are available for trading on Coinbase, which has earned its reputation for simplicity and convenience.
What Key Factors to Consider While Selecting a Crypto Exchange in Canada?
When searching for the ideal crypto exchange in Canada, several pivotal factors come into play. Security should be at the forefront of your considerations. Seek platforms that prioritize safety measures, including cold storage for assets, two-factor authentication for added protection, and adherence to Canadian regulatory frameworks, such as FINTRAC, to ensure compliance. Fees are another crucial aspect, as they can significantly impact your trading profits. Look for exchanges like Newton that offer competitive rates or even zero commission fees. User-friendliness is also a key factor, particularly for those new to the crypto sphere. Platforms like Wealthsimple, renowned for their intuitive interfaces, can greatly simplify the buying and selling process. Additionally, ensure that the exchange you choose supports the specific cryptocurrencies you intend to trade. Don’t overlook customer support and liquidity either; they are essential for a smooth trading experience.
Choosing a crypto exchange in Canada? Consider these key factors. Good customer service ensures swift resolution of any issues, while high liquidity lets you trade efficiently at desired prices. By weighing these aspects, you can pick a platform that aligns perfectly with your needs.