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10 best crypto exchanges in Canada

Find the best crypto exchange, trading platform or app for Canadians.

Every year, our team extensively reviews more than 25 cryptocurrency exchanges and apps to find the best crypto trading platform in Canada. We look at factors like user experience, fees, payment methods, supported coins and more. Here are our top picks for the best crypto exchange in Canada.

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Best crypto exchanges in Canada 2024

1. Crypto.com: Overall winner for the best crypto exchange in Canada

Crypto.com App

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Finder score
372
Supported cryptos
31
Fiat currencies

Crypto.com is an excellent platform for both new and experienced crypto investors and is the winner of the 2023 Finder Award for Best Cryptocurrency Exchange Overall.

The exchange supports over 350 crypto assets which can be traded instantly and for relatively low rates, which is why it also won the 2023 Finder Award for Altcoins and the 2023 Finder Award for Instant Purchases.

The exchange also won the 2023 Finder Award for Advanced Trading because of its desktop exchange which offers a more professional experience with charting tools, advanced order types and lower fees.

With an NFT marketplace and a debit card that lets you make purchases with crypto, Crypto.com is a well-deserved recipient of the 2023 Finder Award for Extra Features.

Pros
  • Wide selection of cryptos
  • Staking and lending
  • Non-custodial DeFi wallet
  • Crypto.com debit card for everyday purchases
  • Streamlined NFTs purchases
  • Pre-registered with the Ontario Securities Commission
Cons
  • Higher fees on the app than on desktop
  • Limited NFT collections compared to larger marketplaces like OpenSea
Deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card
Deposit fees $0
Withdrawal fees $1.99 per withdrawal ($0 for Prime members)
Trading fees Spreads: 0.01% – 0.08%
Taker fees: 0.05% – 0.075%
Maker fees: 0.06% – 0.075% (0% for Prime members trading more than US$10 million)
Advanced Trading Features Yes

2. Kraken: Recommended for advanced traders

Kraken Cryptocurrency Exchange

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Finder score
223
Supported cryptos
8
Fiat currencies

Founded in 2011, Kraken has been leading the way in the digital currency space. But it really shines for advanced traders.

Kraken Pro gives traders access to advanced charting tools, a highly-customizable interface, hundreds of crypto assets and trading pairs as well as support for margin trading. You can also stake your assets to earn a yield.

If you run into any issues, Kraken's customer support is available 24/7.

Pros
  • Over 200 crypto assets and even more trading pairs
  • Kraken Pro offers advanced charting tools, asset staking and margin
  • Crypto futures contracts
  • 24/7 customer support
Cons
  • Verification can take days
  • CAD, USD and EUR are the only accepted fiat currencies
Deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,Apple Pay,Google Pay,SWIFT
Deposit fees Credit and debit card - Fees vary ($10 minimum deposit)
Apple Pay or Google Pay - Fees vary ($10 minimum deposit)
Crypto - Free
Withdrawal fees Interact e-transfer - 10 CAD
EFT - 0.25%
Crypto - Fees vary depending on coin or token
Trading fees Maker: 0.00-0.25%
Taker: 0.10-0.40%

3. Paybis: Best crypto exchange for self custody

Paybis Cryptocurrency Exchange

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Finder score
87
Supported cryptos
60
Fiat currencies

Paybis is a P2P crypto exchange on which you can buy over 85 different crypto assets. Paybis doesn't offer crypto wallets in Canada, so you'll have to connect your own non-custodial wallet.

That's why this platform is a great option for those who don't mind the responsibility of managing their crypto.

Support for many fiat currencies and six deposit methods makes Paybis a convenient platform. Note that you can only sell around 10 popular cryptos, including Bitcoin, Ethereum, Tether, Solana, Dogecoin and USDC.

Pros
  • Direct exchanges with buyers and sellers in around 180 countries
  • Allows self-custody for digital assets
  • Supports many payment methods
  • Easy registration process
Cons
  • User must buy and learn how to use private wallets
  • Unclear fee structure and high fees for fiat transactions
  • Can only sell around 10 cryptos
Deposit methods Bank transfer,Credit card,Debit card,Neteller,Skrill,Apple Pay
Deposit fees Bank transfer: 0.99%
Debit / credit card: 2.49%
Neteller: 2.95%
Skrill: 4.95%
Processing fee (additional to other fees): 4.5% - 6.99%
Withdrawal fees Bank transfer: 0.99%
Debit / credit card: 2.49%
Neteller: 2.95%
Skrill: 4.95%
Processing fee (additional to other fees): 4.5% - 6.99%
Trading fees N/A

4. Bitbuy: Best crypto platform for asset protection options

Bitbuy Digital Currency Exchange

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Finder score
39
Supported cryptos
1
Fiat currency
Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.

Bitbuy caught our eye as the top pick for asset protection because the exchange is regulated, keeps over 95% of its digital assets in cold storage and offers users extra optional security layers for their accounts.

Additionally, Bitbuy vault users can rest easy knowing the platform is insured through BitGo, an institutional custodian for digital assets.

One of the oldest Bitcoin exchanges in Canada, Bitbuy is approved by the Ontario Securities Commission (OSC).

Pros
  • 99% of assets stored in cold storage
  • Uses BitGo to protect and insure the funds it holds
  • Enables 2FA protection
  • Registered with FINTRAC and the OSC
Cons
  • Only supports 23 digital assets
Deposit methods Cryptocurrency,Interac e-Transfer,Wire transfer
Deposit fees Cryptocurrency: free; blockchain network fees apply
Interac e-transfer: free
Wire transfer: free
Withdrawal fees Cryptocurrency: varies depending on digital asset; blockchain network fees apply
Interac e-transfer: 1.5%
Wire transfer: 1.5%
Trading fees Maker (Spread fee): 0.00-2%
Taker (Spread fee): 0.10-2%

5. VirgoCX: Best crypto exchange for automated trading

VirgoCX Cryptocurrency Exchange

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Finder score
78
Supported cryptos
2
Fiat currencies
Get a $20 bonus when you open a new account and deposit $100+. T&Cs apply.
VirgoCX lets you trade over 75 cryptos, and you can instantly fund your account via Interac e-Transfer. Over 80% of the platform's digital assets are held in cold storage with Coinbase Custody.

With VirgoCX, you can set up recurring purchases and supports grid trading, making it easy to trade automatically and take advantage of dollar cost averaging (DCA). Get up to 90% off VirgoCX's spreads through the platform's tiered rewards program.

Pros
  • Recurring buys help you dollar-cost average (DCA) into owning digital assets
  • Grid feature allows you to automate purchasing crypto when it falls below a certain price
  • Quickly fund your account via Interac e-transfer
  • Discounted spreads with the tiered rewards program
  • Registered with the OSC
Cons
  • Trading spreads can reach 2.5%
  • $3,000 limit for transferring out via e-transfer, debit or credit
Deposit methods Credit card,Cryptocurrency,Debit card,Interac e-Transfer,Wire transfer
Deposit fees Interac e-transfer: $0
Wire transfer: $0
Bill payment: $0
Debit card: 2.99%-5.99%
Credit card: 3.99%-6.99%
Crypto: variable (plus network fees)
Withdrawal fees Interac e-transfer: $0
Wire transfer: $0
Crypto: variable (plus network fees)
Trading fees Maker: N/A
Taker: N/A

6. NDAX: Best crypto exchange for customer support

NDAX Cryptocurrency Trading Platform

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Finder score
37
Supported cryptos
1
Fiat currency
NDAX prioritizes security and customer service. Not only can you reach NDAX anytime day or night via phone, but the exchange has real humans on standby, ready to live chat or respond to emails.

Impressively, NDAX is the first Canadian crypto platform to receive SOC2 Type II certification, which is based on a high standard of Trust Service Criteria established by the American Institute of Certified Public Accountants (AICPA).

The majority of the platform's digital assets are held in tightly guarded cold storage provided by Ledger Vault. Additionally, Customer fiat deposits are held in a separate, Canadian Crown-owned financial institution.

Pros
  • 24/7 customer support via phone and live chat
  • Crypto and fiat currencies are highly safeguarded
  • Low 0.2% trading fee
  • Fast ID verification
  • Great tools for advanced crypto traders
  • No min/max for Interac e-transfers deposits and withdrawals
Cons
  • Only supports CAD fiat currency
  • Fees for EFTs and Interac e-transfer withdrawals
  • You can trade more cryptos with some competitor exchanges
Deposit methods Cryptocurrency,Interac e-Transfer,Wire transfer,Bank draft
Deposit fees Interac e-Transfer: Free
Wire Transfer: Free
Bank Draft: Free
Cryptocurrency: Free
Withdrawal fees Wire Transfer: Free
Bank Direct: $4.99
Cryptocurrency: Fees vary
Trading fees 0.2% for buying and selling cryptocurrency

7. Coinbase: Best crypto exchange for beginners

Coinbase Digital Currency Exchange

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Finder score
257
Supported cryptos
23
Fiat currencies
Coinbase won the 2023 Finder Award for Best for Beginners and is the largest publicly traded crypto exchange in the world. The simplified version of Coinbase lets you transfer fiat from your bank account and instantly purchase digital assets in a few simple steps.

Trading fees are a bit higher for the simplified version of Coinbase compared to the advanced version. But if you're new to crypto, the convenience might be worth the cost.

With Coinbase Learning Rewards, you can earn crypto by watching informational videos about digital assets and networks and answer questions about what you learned.

Pros
  • Trade 200+ digital assets
  • Free e-transfer deposits. Instant withdrawals to most banks
  • Easy signup process
  • Discounted volume pricing with Advanced Trade
  • Earn crypto by learning about it
  • Registered with the Ontario Securities Commission and securities regulators in all provinces/territories
Cons
  • Higher fees for Coinbase simplified than Advanced Trade
  • Cannot buy or sell crypto with a credit card
Deposit methods Debit card,PayPal
Deposit fees Wire transfer: US$10
Cryptocurrency: Free
ACH: Free
Withdrawal fees Wire transfer: US$25
Cryptocurrency: Price varies depending on the asset
ACH: Free
Trading fees Maker fee: 0.00-0.4%
Taker fee: 0.05-0.6%

8. Gemini: Best value crypto exchange in Canada

Gemini Cryptocurrency Exchange

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Finder score
85
Supported cryptos
7
Fiat currencies
Gemini won the 2023 Finder Award for Best Value because it offers low fees for mobile instant trades under $250 CAD, discounts for active traders and a slew of features for both newbies and experienced customers.

Trade over 70 cryptos and over 300 crypto pairs. Choose between a simplified or advanced interface. Set up recurring buys and price alerts to ease into the crypto market with less financial unpredictability.

Gemini safeguards the platform by requiring two-factor authentication for all accounts and remaining SOC 1 Type 2 and SOC 2 Type 2 compliant. Most assets are held in cold storage, and hot wallet assets are fully insured.

Pros
  • Supports 70+ cryptos and 300+ trading pairs
  • $1.49-$4.99 for mobile instant trades under $250 CAD (then 1.49%)
  • Discounted fees for active traders (0%-0.2%)
  • Advanced trading tools available
  • Set up recurring buys and price alerts
  • Majority of assets are in cold storage. Hot wallet assets are fully insured.
  • 24/7 customer support
Cons
  • CAD and USD are the only fiat currencies supported in Canada
  • Complex fee structure
Deposit methods Bank transfer (ACH),Debit card,PayPal,Wire transfer,Apple Pay,Google Pay
Deposit fees Cryptocurrency : None
Wire Transfer: None
ACH: None. Bank may charge transfer fee
Debit Card Transfer: 3.49% of total amount
PayPal: 2.50%
Withdrawal fees Cryptocurrency: None (for 10 withdrawals and below per month)
Others: None (for 10 withdrawals and below per month)
Trading fees Web Order Transaction Fees (USD)
≀ $10.00: $0.99
> $10.00 - $25.00: $1.49
> $25.00 - $50.00: $1.99
> $50.00 - $200.00: $2.99
> $200.00: 1.49% of your web order value
ActiveTrader:
Taker fee - 0.03-0.4%
Maker fee - 0-0.2%

9. Wealthsimple: Best Canada-based crypto platform

Wealthsimple Crypto

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Finder score
65
Supported cryptos
2
Fiat currencies
Wealthsimple won the 2023 Finder Award for Best Canadian Platform, because of its long and reputable track record, the broad range of coins it supports and the level of security it provides.

Launched in 2014, Wealthsimple is Canada's first regulated crypto trading platform. The institution is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).

Trade over 60 coins with no account minimums, low fees ranging from 0.5%-2% and insurance coverage on your crypto assets. Earn up to 12% annually by staking (the yield varies based on the coin). Customer support is available by chat, email and phone.

Pros
  • Canada's first regulated crypto trading platform
  • Offers a separate platform for trading stocks & ETFs
  • Majority of coins are held offline in cold storage. Hot wallet assets are insured.
  • Schedule your purchases with limit buy orders
  • Start with as little as $1
Cons
  • Higher fees than some competitors
  • Only supports CAD and USD accounts
  • Lacks advanced trading features
Deposit methods Cryptocurrency,Interac e-Transfer,Wire transfer,Linked bank account,Bank transfer (EFT),Online wallet,Debit/credit cards
Deposit fees None
Withdrawal fees None
Trading fees 0.5-2%

10. Netcoins: Best crypto broker in Canada

Netcoins Trading Platform

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Finder score
37
Supported cryptos
2
Fiat currencies
Netcoins is our pick for the best crypto broker in Canada. Buy and sell 45+ cryptos like you would on any crypto platform. Enjoy free fiat e-transfers and simple 0.5% pricing for all trades (plus conversion spreads).

As a broker, Netcoins acts as an intermediary in the transaction. This is unlike crypto exchanges, which act as marketplaces for buyers and sellers to transact. Netcoins follows high security standards for protecting customer holdings. It's easy to create an account and get started.

Fiat deposits are held in a trust account with a regulated Canadian financial institutionβ€”separate from the funds that Netcoins uses for business expenses. Most digital assets are held in cold storage and insured up to $250 million USD. Plus, hot wallet deposits are fully insured against loss and theft.

Pros
  • Flat 0.5% trade fee (plus spreads)
  • Trade between $10 and $10 million
  • Supports limit orders and price alerts
  • Free e-transfer and crypto deposits. Free ACH withdrawals.
  • Live chat, email and phone support
Cons
  • Fee for bank wire deposits under $3,000 CAD
  • Limited selection of digital assets compared to some exchanges
Deposit methods Cryptocurrency,Interac e-Transfer,Bank Wire
Deposit fees Interac e-Transfers: None
Cryptocurrency: None
Bank Wire: None for deposits over $3,000 CAD or $2,000 USD; $30 CAD or $20 - $25 USD for less
Withdrawal fees Interac e-Transfers: None
Cryptocurrency: Varies
Bank Wire: Free for withdrawals over $25,000 CAD or $6,000 USD; $50 CAD or $75 USD for less
Trading fees 0.5%

Why you can trust Finder's crypto experts

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We've researched and rated dozens of exchanges as part of our Finder Crypto Trading Platform Awards. We've published hundreds of guides and our in-house experts are regularly called upon for commentary in Nasdaq and The Street.
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Unlike other crypto media, we're not owned by an exchange or investment firm. Our opinions are our own and we put our readers first to help you find the crypto trading product that's right for you.
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We're a team of crypto nerds with extensive experience in investing, trading and decentralised finance but we also remember how it feels to be a beginner. We give you first-hand reviews of what it's like to use these products – without jargon.

Best crypto exchanges in Ontario

With major international crypto exchanges like Binance no longer operating in Canada, you'll need to find an exchange that's been approved to operate in the province. Some of the OSC-registered local trading platforms include the following: If you're an Ontario resident and prefer to use an international exchange, you can still use platforms like Coinbase, Crypto.com and Kraken. It's important to note that some features on international exchanges (like futures trading on Kraken) may be disabled for Ontarians.

How to choose the best crypto exchange in Canada

It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:

Using FINTRAC-registered exchanges to buy cryptocurrency

There are plenty of places to buy crypto, including platforms founded here in Canada or based in locations all around the world. Exchanges headquartered locally are required to register with FINTRAC and comply with requirements that don't apply to global platforms. Depending on your goals, this may have some benefits or drawbacks.

Pros
  • Canada-based exchanges must comply with FINTRAC's Anti-money Laundering (AML) and Counter-terrorism Financing (CTF) reporting obligations.
  • You can usually buy crypto with CAD.
  • Exchanges in Canada typically support local payment methods.
  • You may be able to access local customer support.
  • Subject to local laws.
Cons
  • You'll need to provide your personal details and proof of ID – a disadvantage if you want to trade anonymously.
  • Overseas trading platforms may provide better liquidity.
  • CAD-to-crypto prices are sometimes slightly higher than USD-to-crypto prices, meaning you sometimes pay a premium for buying directly with Canadian dollars.
  • Some features are simply not available on FINTRAC-registered exchanges. For example, margin trading, DeFi features and some altcoins.

Compare more crypto trading platforms and apps in Canada

Use the table to compare crypto exchanges and platforms on fees, range of cryptos, deposit methods and more. Once you've found the right fit, select Go to site to get started.
1 - 10 of 14
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT

8

223

Certain trading features are limited or unavailable to residents of Ontario and Quebec.

Capital at risk

View details
Paybis Cryptocurrency Exchange
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller, Skrill, Apple Pay

60

87

Capital at risk

View details
Coinmama Cryptocurrency Marketplace
Credit card, Debit card, Apple Pay, Google Pay

6

16

Capital at risk

View details
OFFER
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer

1

39

Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.

Capital at risk

View details
OFFER
VirgoCX Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer

2

78

Get a $20 bonus when you open a new account and deposit $100+. T&Cs apply.

Capital at risk

View details
Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency, Debit card, Wire transfer, Apple Pay

58

391

Capital at risk

View details
NDAX Cryptocurrency Trading Platform
Cryptocurrency, Interac e-Transfer, Wire transfer, Bank draft

1

37

Capital at risk

View details
MyBTC.ca Cryptocurrency Exchange
MyBTC.ca Cryptocurrency Exchange
Cash, Credit card, Debit card, Flexepin, Interac e-Transfer, Bank Wire

1

2

Capital at risk

View details
Finder Award
Coinbase Digital Currency Exchange
Debit card, PayPal

23

257

Capital at risk

View details
Finder Award
OFFER
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay, Google Pay

7

85

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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How to use a cryptocurrency exchange

For the sake of our example, let's assume that you have $500 that you want to use to buy Bitcoin (BTC).

  1. Compare cryptocurrency exchanges to find one that offers the right service for you.
  2. Register for an account on the platform and provide any personal details and proof of ID required.
  3. Navigate your way to the "Buy" screen.
  4. Select BTC as the cryptocurrency you want to buy.
  5. Select your payment currency, which in this case is CAD, and specify the amount you want to spend as $500.
  6. Select your payment method, such as a credit card payment or bank transfer.
  7. Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by credit card.
  8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
  9. If you're happy to proceed, click "Buy BTC".
  10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.

How to pay for your cryptocurrency in Canada

Crypto exchanges in Canada support a range of deposit methods, including the following:

  • Peer-to-peer (P2P) payments
  • Neteller, Skrill and other online payment services
  • Interac e-Transfers
  • Apple Pay and Google Pay

Accepted payment methods vary between exchanges. Prior to signing up, it's worth checking that your preferred payment method is supported.

The different types of cryptocurrency exchanges

The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.

  • Cryptocurrency brokers (suited to beginners). Buy directly from cryptocurrency dealers for simple and quick purchases. Many beginners use brokers for their first purchase. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
  • Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
  • Cryptocurrency derivatives platforms (suited to advanced users). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.

Risks of using a crypto exchange

  • Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
  • Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
  • Lack of consumer protection. While crypto exchanges are increasingly regulated in Canada and may be registered with FINTRAC, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
  • Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
  • Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 CAD available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and FINTRAC stipulations and typically increase as you provide additional KYC information.
  • Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
  • Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.

However, once you have purchased what you consider to be a sizable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.

This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.

Learn more about cryptocurrency wallets

2023 crypto exchange industry predictions report

We polled 56 specialists in the fintech industry to get their opinion on what the future looks like for centralised crypto exchanges and what the demise of FTX means for the crypto industry.

The vast majority of our panellists (83.93%) don't think the collapse of FTX was the beginning of the end for crypto, while 8.93% think it was and 7.14% are unsure.

However, because of the FTX collapse, more than half of our panellists (58.49%) believe that crypto exchanges should be regulated just as much as other financial trading platforms.

22.64% believe that crypto exchanges should be regulated, but less so than other financial trading platforms. 15.09% don't believe that crypto exchanges should be regulated to the same degree.

Over one-third of our panellists (35.19%) believe all crypto exchanges will be regulated as traditional financial institutions by 2030. A further 22.22% believe this will happen by 2025 and another 14.81% think it will happen by 2024.

In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities.

42.31% think that more crypto exchanges will face bankruptcy as a result of a reduction in their customer base. 15.38% believe this will play out over the next 5 years while a quarter (26.92%) think it'll happen within the year.

Bottom line

Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.

Read our reviews of some of the most popular cryptocurrency exchanges in Canada and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.

FAQs

Methodology

To evaluate our 2024 picks for the best crypto exchanges in Canada, we compared trading platforms on a range of criteria, including the following:

  • Supported assets. Does the platform offer a good breadth of coins, tokens and NFTs?
  • Payment methods. What account funding options are available? Does the exchange accept bank transfers, credit and debit cards or crypto-only transfers?
  • Fees. What trading fees, withdrawal fees and other miscellaneous charges are levied by the exchange, and are these rates comparable with competitor exchanges?
  • User experience. Is the platform simple to use for both beginners and advanced crypto traders?
  • Platform features. What tools, charts and functionalities are available on the exchange? Is there support for advanced trading features such as derivatives or hedging?
  • Security. What measures are taken by the exchange to protect its customers' assets and prevent theft or loss? Are additional security features in place, including 2-factor authentication (2FA), cold storage of assets, regular audits and insurance coverage?
  • Regulator registration. Is the platform registered with the Financial Transactions and Reports Analysis Centre?
  • Customer support. How do existing users rate the exchange's customer support? Does the exchange offer various methods of contact, such as email, instant chat, phone or social media?

Finder's crypto exchange reviews

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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