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If you’re looking for the best crypto exchange Canada has to offer, you’ve come to the right place. We’ve covered a wide variety of centralized exchanges that cater to both beginners and advanced traders. Read on for a few minutes, you’ll get an in-depth review of the top Canadian crypto exchanges, including their regulation status, security, features, and fees.
| Exchange | Cryptos Listed | Fees | Payment Options |
|---|---|---|---|
Bitbuy | 24 | 0.1%-0.2% | Interac transfers, Wire transfers, Crypto |
Kraken | 200+ | 0.1%-0.4% | Credit/debit cards, Wire transfers, E-transfers, Canada Post |
VirgoCX | 60+ | 0% (0.95%-1.65% spread) | Credit/debit cards, Wire transfers, Interac e-transfers |
Coinbase | 240+ | 0.6%-1.75% | Credit/debit cards, Wire transfers, Interac e-transfers, Crypto |
NDAX | 200+ | 0.2% | Credit/debit cards, Wire transfers, Interac e-transfers, Crypto |
Bitbuy is a leading Canada-based crypto exchange, specifically designed for Canadian investors. It has built a strong reputation based on its reliability and strong security (never hacked). Additionally, it is constantly striving for regulatory compliance in Canada with registrations for the Ontario Securities Commission (OSC) and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC.) Where the platform really shines is its offering of CAD trading pairs. Using the trading portal, you can trade USDT, BTC, ETH, and USDC while also accessing 15+ other cryptos.
You can start investing in minutes with a $50 minimum investment. Once your account and identity are verified, you can deposit instantly with Interac transfers without any deposit fees. This removal of deposit fees is paired with attractive spot trading fees between 0.1% and 0.2% making it cheaper to use than other global competitors. Customers also regularly praise the 24-hour customer support on offer, along with the user-friendly design of the platform.
The website is simple to navigate, even for beginners who can be overwhelmed by other major exchanges. Express trading lets you buy crypto with the click of a button, while Pro Tade gives you access to traditional order book-style trading. Then once you’ve acquired your coin stash, you can put it to work through staking features, which boast up to 11.57% rewards. Everything Canadians need to get started with crypto.
Since its founding in 2016, Bitbuy has grown to become one of Canada’s top cryptocurrency exchanges, serving 24 different cryptocurrencies and counting over 400,000 Canadian investors. You may feel secure knowing that your funds are safe with one of the top Canadian cryptocurrency exchanges, Bitbuy, which is based in Toronto and is FINTRAC-registered as a Money Service Business (MSB).
Yes, Bitbuy is great for Canadian crypto exchange users; it is fully regulated, designed, and operated in Canada. This makes it easy for locals to access and use CAD trading pairs.
Bitbuy is registered with the Ontario Securities Commission (OSC), Canadian Securities Administrators, and FINTRAC, confirming legal operation in Canada.
Bitbuy offers all the functions required by most crypto investors, including Express Trade, Pro Trade, Staking, and Private Wealth OTC.
BitBuy trading fees range between 0.1% and 0.2%.
You can deposit and withdraw using fiat CAD via Interac-Transfers and Wire Transfers or deposit and withdraw directly in crypto. Interac-Transfers have 0% fees.
Customers using crypto exchanges in Canada need to provide identity information, address, telephone number, and a recent photograph during the signup process.
Kraken is one of the most well-known names in the crypto exchange industry. Unlike many of the major global exchanges, its coverage extends to the tightly regulated Canadian market. It is registered with FINTRAC, and although it is not a dedicated Canadian exchange like Bitbuy, it still offers high functionality for locals. Some advanced features are not available in Canada, specifically margin and futures trading.
Millions of people in Canada choose Kraken to trade and buy their crypto, and the platform continues to show its commitment to serving the market. While other operators have pulled out of the country in recent years, Kraken is working hard to help citizens achieve financial inclusion and freedom through crypto. Security is strong with asset safeguarding that includes 5-start reports during Proof of Reserve audits. Funding options are simple too, with the ability to deposit and withdraw using CAD, making a bridge between traditional finance and 200+ cryptos in Canada.
New crypto exchange users can start investing using quick buy features for as little as $10. More advanced traders can enjoy a professional trading platform to maximize their investment strategies which include CAD-denominated order books. All of this is tied in with the highest liquidity for trading pairs in the country. Trading fees are competitive, ranging between 0.1% and 0.4%. Plus you can put your crypto to work with staking that delivers up to 24% returns. Buy, sell, HODL, and earn crypto in Canada with Kraken.
With a daily average volume trading over $965 million, Kraken has grown to become the sixth-largest cryptocurrency exchange in the world since in 2013 launch. With 95% of deposits kept offline in cold storage facilities located all over the world, Kraken not only provides secure currency storage but also guarantees a robust and secure trading environment.
Yes, Kraken is committed to serving Canadian crypto users and offers CAD deposits and over 200 trading pairs.
Kraken is registered with FINTRAC and has a pre-registration status with the CSA.
Canadian users can access the quick buy and pro trading features for spot markets along with staking features. Futures and margin trading are not available in Canada.
Kraken trading fees range from 0.1% to 0.4%, depending on your trading volumes.
It is simple to deposit and withdraw CAD with a Kraken account. Deposits can be made with credit or debit cards, wire transfers, e-transfers, or even at Canada Post.
Customers using crypto exchanges in Canada must provide identity information, address, telephone number, and a recent photograph.
VirgoCX is working toward becoming the most trusted full-service cryptocurrency solution for Canadians. They are a growing name in the country, providing a safe, simple, and affordable crypto exchange to buy and sell crypto in Canada. Security is a top priority for the company with best-in-class safe crypto trading security systems. Only a small amount of crypto is kept online, with the rest of the funds held in cold storage via Coinbase Custody. Adding to this, there is a 1 million CAD insurance fund to cover against issues like theft and damages.
Their commitment to protecting Canadians includes becoming a Restricted Dealer with the Canadian Securities Administrators (CSA) and a money services business registration with FINTRAC. In addition to this, they are PIPEDA compliant, a privacy act in Canada for the protection of personal information, so your data will never be sold or shared without your consent.
Trading on VirgoCX is simple and intuitive for beginners offering access to 60+ cryptos to trade with CAD, whether on the web or smartphone app. Users can buy and sell at the click of a button, plus set up recurring buys for DCA investing strategies. Trading fees have a unique setup with this exchange. Trading fees are set to 0% (feeless), which appears attractive to newcomers. Although, VirgoCX does make money on the spread, meaning you will end up paying 0.95% – 1.65% on trades. Virgo plus members can reduce the spread by 10% – 20%.
This is not an exchange for advanced traders. It does not have a professional order book platform or added features like futures, margin, or staking.
VirgoCX was founded in 2018 with a mission to make crypto trading easy, safe, and affordable in Canada. It has become a trusted name within the country for buying and selling Bitcoin along with 60+ altcoins from a streamlined and simple platform. Newcomers to crypto can easily take advantage of the advanced technology and top-tier liquidity from a transparent and fully regulated provider. The organization is featured in Deloitte’s Fast 50 list, Finder’s highly recommended crypto exchange trading platform, and Canadian Ventures most Innovative and exciting startups.
Yes, VirgoCX is making it easy for new crypto users in Canada to start buying and selling more than 60 crypto with CAD.
VirgoCX is registered with FINTRAC and the CSA, plus is PIPEDA compliant.
Canadian users can use the buy-and-sell feature to trade crypto. There is a lack of other features except crypto gift cards and institutional OTC purchasing.
VirgoCX has 0% trading fees but charges 0.95% – 1.65% within the quoted spread.
It is simple to deposit and withdraw CAD with a VirgoCX account. Deposits can be made with credit or debit cards, wire transfers, or Interac e-transfers.
Customers using crypto exchanges in Canada are required to provide identity information, address, telephone number, and a recent photograph during the signup process.
This wouldn’t be a best crypto exchange list without Coinbase making an appearance. This powerhouse of the crypto industry leads standards across the globe, including as one of the best crypto exchanges in Canada. It is a user-friendly platform that is accessible to both beginner investors and advanced traders. It is regulated and authorized to operate in Canada with a listing at the CSA and FINTRAC.
Signing up for a Coinbase account is a simple step by step process that includes the usual KYC and identity checks to conform with regulatory requirements. Once verified, Canadians can deposit crypto using Interac e-payment rails for feeless instant funding, or use the credit card, wire transfer, or crypto deposit methods.
The trading platform is simple to use, even with the plethora of features. A quick buy function enables users to buy Bitcoin and hundreds of other coins with CAD as a trading pair. Although, this feature can be more expensive with Coinbase marking up prices on the trade spread. The advanced exchange feature gives access to order book trading, where orders can be made at market and limit rates combined with stops. You should note that derivatives trading, like Perpetuals, is not available in Canada.
Outside of trading, you can explore other features like staking to earn money from your stash, and Coinbase wallet can give you self-custody of your crypto alongside functionality with Web3 dApps. As for fees, low-volume accounts will be charged between 0.60% and 1.75%, with the rate starting to decrease below 0.5% on trading volumes over $10k over a 30-day period. So even on the advanced trading feature where no spread is charged, fees are substially more expensive than top local competitors.
Coinbase is a publicly listed business that complies strictly with regulations. It is registered with the OSC and FINTRAC, is insured by BitGo, and is shielded by Fireblocks, a blockchain security service provider. It has been the leading name for digital asset custody since 2012 serving both retail clients and large financial institutions for trading and crypto custody.
Yes, Coinbase is a trustworthy company for crypto users in Canada to start buying and selling hundreds of coins with CAD.
Coinbase is registered with FINTRAC and the CSA, plus is PIPEDA compliant.
Canadian users can use the quick buy and sell feature to trade crypto or access the advanced trade function for order book trading. Plus, staking is available across dozens of assets.
Coinbase charges 0.6% – 1.75% on accounts with a trading volume of less than $10k over a 30-day period, with rates reduced below 0.5% for high-volume traders.
It is simple to deposit and withdraw CAD with a Coinbase account. Deposits can be made with credit or debit cards, wire transfers, Interac e-transfers, or crypto.
Customers are required to provide identity information, address, telephone number, and a recent photograph during the signup process, and a recent photograph during the signup process.
NDAX, a safe, regulated, and cutting-edge crypto trading platform, was established in 2018 to enable everyone to take part in and benefit from the contemporary digital economy. NDAX is making cryptocurrency more accessible to all Canadians, enabling them to trade, buy, sell, sake, and profit from their digital assets. The platform incorporates world-leading security protocols and compliance standards.
The organization is proactive in its application of regulation requirements with FINTRAC registration and adhering tto he Revenue Quebec regulatory frameworks. The majority of funds are held offline in cold storage with a multi-sig Ledger Vault for maximum protection that is combined with a $5 million asset insurance cover against fraud and internal theft.
With the platform’s secure crypto storage, several funding options, and same-day withdrawal and deposit settlements, you can concentrate on crypto asset trading, monitoring, and portfolio management instead of worrying about technicalities and security.
From novice Canadian investors to seasoned traders, NDAX is made to meet their demands with affordable, clear trading costs and the option to trade digital assets in Canadian dollars. A simple trading feature offers convenience with one-click trading so newcomers can buy and sell instantly. For more sophisticated investors, advanced trading gives the powerful tools to profit from an order book alongside customizable technical charts and multiple order types. Canadians can also enjoy the passive income function which unlocks up to 13% staking rewards on top coins like ETH and ADA.
A unique function within NDAX for Canadian users is Tax Reporting. You can get a comprehensive report that integrates with tax software. So no matter how often you trade, you can file your taxes accurately and effortlessly. All your transactions, even crypto-to-crypto trade, are compiled to make sure you don’t fall foul of taxable gains in Canada.
NDAX, which stands for National Digital Asset Exchange, launched in 2018 has become Canada’s most advanced crypto exchange with a comprehensive offering. They have built strong banking partnerships so Canadians can deposit and withdraw CAD fast, simply, and securely. The platform is fully regulated and even helps users track their taxable events. The organization has been granted status as an investment dealer and is a member of CIRO, the Canadian Investment Regulatory Organization.
Yes, NDAX is a trustworthy company for crypto exchange users in Canada to start buying and selling hundreds of coins with CAD.
NDAX is registered with FINTRAC and the CSA, plus is a member of CIRO.
Canadian users can use the quick buy and sell feature to trade crypto or access the advanced trade function for order book trading. Plus, staking is available across dozens of assets.
NDAX charges 0.2% trading fees and has a calculator to help you work out your expected trading fees.
It is simple to deposit and withdraw CAD with an NDAX account. Deposits can be made with credit or debit cards, wire transfers, Interac e-transfers, or crypto.
Customers are required to provide identity information, address, telephone number, and a recent photograph during the signup process, and a recent photograph during the signup process.
Before you pick a crypto exchange in Canada, there are a few key points to consider. Some, like security, are non-negotiables, while other factors, like the types of currencies available, are subject to your investing requirements.
No matter which Canadian crypto exchange you use, it should have a strong security track record and continue to use first-rate systems. Features like 2-factor authentication should be available to secure your user accounts. Adding to this, you should look at security protocols like holding funds in cold storage with a multi-sig wallet and an insurance fund in case there are incidents of fraud and internal theft. If you can’t find in-depth information about a platform’s security or it doesn’t have a proven track record, then it’s best to avoid it. Take no risks.
Investing in crypto? You’re probably keen to make a profit, right? Well, if you’re trading regularly, then you need to keep an eye out for the fees and exchange charges. They can quickly mount up and eat away at your earnings. Every exchange has a different fee structure. They vary massively from 0% to over 1%. Take the time to understand the fees you’ll be charged. Watch out for any exchanges claiming to have 0% trading fees, as they’ll likely be putting a markup on the spread, which can exceed 1.5%!
Canada’s crypto regulation is some of the strictness legislation in the world. Many exchanges don’t operate in Canada (or do so illegally). If you do manage to set up an account on an unregulated exchange there could be legal and financial ramifications down the road, plus they are unlikely to support CAD deposits and withdrawal. A legitimate Canadian crypto exchange should be registered with FINTRAC and CSA.
Every exchange offers a different blend of features. For example, VirgoCX is a simple exchange that is ideal for beginners, but it isn’t as useful for professional traders who want to run sophisticated trading strategies. The most common features to consider are:
Now, all the best centralized exchanges in Canada should have fiat support for Canadian dollars (CAD.) Without this, you’ll be unable to deposit your initial currency to buy your first crypto coins. Beyond this the digital currencies supported on exchange can differ greatly. You might find simple platforms only offer the big name coins like Bitcoin and Ethereum, while more advanced platforms likely open up hundreds of options from memecoins to DeFi tokens.
Canada seeks to regulate cryptocurrency as it recognizes the opportunities within that industry as well as the associated risks. Canada’s PCA amendment of 2014 was one of the earliest efforts. However, Canada still has a long way to go in regulating cryptocurrencies. The nation has yet to spell out defined rules for the industry, making it difficult for crypto businesses to comply.
Regardless of the regulatory challenges, Canada has made significant progress in embracing blockchain technology and encouraging crypto activities. One of its notable efforts is Project Jasper, which was a collaborative effort of financial institutions in Canada and Canadian crypto community to understand how distributed ledger can improve payments. Canada also approved its first blockchain exchange-traded fund (ETF) showcasing its interest in making crypto assets mainstream.
Furthermore, Canadian securities administrators have also paid closer attention to crypto exchanges and service providers to ensure safety and compliance. So, Canada requires crypto exchanges to register with the Financial Transactions and Reports Centre of Canada (FINTRAC). In addition, crypto exchanges are also required to comply with anti-money laundering (AML) and counter-terrorist financing (CTF) policies.
FINTRAC’s core role is to detect and prevent financial crimes such as money laundering. It plays a huge role in regulating crypto activities in Canada. Part of its role includes enforcing compliance. Crypto exchanges are expected to maintain records of transactions as well as report large cash transactions. FINTRAC also conducts audits on exchanges to ensure they maintain the highest standard of compliance.
Now go on… use everything you’ve just learned to pick the best crypto exchange Canada has to offer. There are several key points, like security and regulation, that should be top of your list when making a decision. Then you can use the list we’ve reviewed above to decide which has the right features and support for your crypto investment journey.
Premium Partners
Bitbuy and NDAX are top picks among Canadian crypto exchanges, offering robust security measures and a seamless trading experience for Canadian crypto investors.
Yes, Coinbase is excellent in Canada. It’s one of the best crypto exchanges with a user-friendly interface and extensive support for various crypto assets, making it ideal for both beginners and advanced traders.
No. Canadians are currently unable to use the Binance exchange for trading due to policies set up by FINTRAC. Binance already halted its services to Canadian users in 2023, blaming the nation’s new rules.
Bitbuy and Coinbase are good options to buy crypto instantly in Canada. However, it is important to research these exchanges and ensure they meet your trading needs.
For Canadian crypto investors, Coinbase Wallet and Ledger Nano X stand out as the best options, combining user-friendly design with top-notch security for your crypto assets.
Bitbuy is often considered the most reliable among reputable Canadian crypto exchanges, thanks to its strong security track record and regulatory compliance.
The best way to buy crypto in Canada is through centralized exchanges like Bitbuy and Kraken. These platforms offer easy CAD deposits and withdrawals, competitive fees, and robust security measures.
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