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Best crypto exchanges in Canada

Compare cryptocurrency exchanges on things like fees, coins and payment methods.

Check out how we chose these products. We may be paid when you visit links to partner sites - this is how we make money.

Best crypto exchanges in Canada for 2022

Each year, we conduct a comprehensive review of crypto exchanges available in Canada. To arrive at these picks, we’ve compared more than 50 platforms on things like user experience, fees, payment methods and selection of coins.

  • Most beginner friendly crypto exchange: Bitbuy
  • Best crypto exchange for lowest fees: Binance
  • Best crypto exchange for altcoins: KuCoin
  • Best crypto exchange for active traders: Bitfinex

Best crypto exchanges and platforms

Keep in mind that the following picks are suggestions and that the exchange that is best for you will depend on your individual needs. You may also want to use multiple exchanges in order to benefit from their unique combination of services, such as using one for its range of altcoins and another for access to NFTs or earning products.

Best beginner-friendly crypto exchange: Bitbuy

Bitbuy is an all-Canadian easy-to-use exchange, offering people of all skill levels the chance to buy, sell and trade popular cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin.

  • Offers buy, sell and trading options for seven popular coins, provides a wallet for customers, has customer service
  • A simple to use default interface with the option to use a more advanced interface.
  • Quick funding options from instant to two days, meaning you can receive your funds faster.

Best crypto exchange for low fees: Binance

Binance is popular for a reason, but it’s also a crypto-only exchange, meaning you’ll need to buy some cryptocurrency with fiat, and then deposit that onto the exchange before you can start trading on Binance.

  • You’ll simply pay a flat 0.1% trading fee at most.
  • It’s possible to reduce this even further by taking advantage of the exchange’s native cryptocurrency, Binance Coin (BNB), and simply paying your trading fees with BNB held in your exchange account.
  • There are different trading fee tiers, with lower fees for users who hold enough BNB coins and maintain certain monthly trading volumes.

Best crypto exchange for range of altcoins: Kucoin

You’ll find a lot of selection on Kucoin, although the available liquidity for each will vary.

  • Offers hundreds of different coins against both BTC and ETH trading pairs.
  • Has a solid track record of being one of the first exchanges to list exciting new projects.
  • Has a history of listing coins before they appear on more mainstream exchanges.

If you use KuCoin, it may be safest not to leave any cryptocurrency on the exchange longer than necessary.

Best crypto exchange for active trading: Bitfinex

Bitfinex has one of the most liquid cryptocurrency markets out of all exchanges, allowing you to buy, sell and trade over 120 different coins.

  • Although you can trade over 120 crypto coins on this exchange, it’s a hard-to-use platform that is designed for professional or experienced traders.
  • Bitfinex allows you to trade in four fiat currencies: USD, EUR, JPY and GBP.
  • Customize your user interface and choose from many advanced trading options.
  • Offers margin trading, shorting and peer-to-peer markets.

Compare over 25 cryptocurrency exchanges in Canada

Use our table to quickly compare crypto exchanges on fees, fiat currencies, deposit methods and more. Once you’ve found the right fit for you click Go to site to get started.

1 - 5 of 27
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer
CAD

24
cryptocurrencies

Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.
At this Canada-based cryptocurrency exchange, you can fund your account in CAD via Interac eTransfer and bank wire.
Netcoins Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer
CAD, USD

11
cryptocurrencies

Buy Bitcoin and 10 other cryptocurrencies instantly using this straightforward broker.
NDAX Cryptocurrency Trading Platform
Bank transfer (ACH)
CAD

30
cryptocurrencies

Get a $10 bonus when you open an account and deposit at least CAD$100. T&Cs apply.
NDAX is a Canada-based digital asset exchange with CAD currency pairs and with options for advanced traders.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR

271
cryptocurrencies

Buy 260+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
FTX Cryptocurrency Exchange
Bank transfer, Card, Wire transfer
USD, EUR, GBP, AUD, SGD, TRY, ZAR, CAD, CHF, BRZ, MXN

264
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available to Ontario users.
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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How to choose a cryptocurrency exchange

With hundreds of exchanges to choose from, how can you find the best cryptocurrency exchange for your needs? The most important thing to do is to research a wide range of platforms and compare the pros and cons of each option.

Consider the following factors when comparing crypto exchanges.

How to use a cryptocurrency exchange

For the sake of our example, let’s assume that you have $500 CAD that you want to use to buy Bitcoin.

  1. Compare cryptocurrency exchanges to find one that offers the right service for you.
  2. Register for an account on the platform, including providing any personal details and proof of ID required.
  3. Navigate your way to the “Buy” screen.
  4. Select Bitcoin 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 and BSB 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 nominated by you.

How to buy Bitcoin in Canada

How to pay for your cryptocurrency

You’ll need to deposit funds on your cryptocurrency exchange or otherwise make a transfer. Bitcoin exchanges accept all sorts of deposit methods, including the following:

  • Prepaid cards
  • Cryptocurrency transfers
  • PayID, Osko and other NPP payments
  • Wire transfers

The payment types accepted will vary between exchanges though, so it’s worth checking to ensure your preferred payment method is supported before signing up.

The different types of cryptocurrency exchanges

The term “exchange” can be used to refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared towards beginners or experienced users.

  • For beginners – cryptocurrency brokers. Buy directly from cryptocurrency dealers for simple, quick and easy purchases. Many beginners use brokers for their first purchase. CoinSpot is an example of a cryptocurrency broker.
  • For intermediates – cryptocurrency trading platforms. Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional extra features like margin trading. While a bit trickier than brokers, these platforms can still be quite beginner-friendly. Binance is an example of a cryptocurrency trading platform.
  • For advanced users – cryptocurrency derivatives platform. These trading platforms don’t sell cryptocurrency outright. Instead, they let you trade cryptocurrency derivatives. They’re for advanced traders who want high speed, high leverage, deeply liquid platforms with a full range of features.

Is it safe to store your cryptocurrency on an exchange?

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase.

However, using an exchange for long-term storage is not recommended. As the exchange controls the private key to your wallet, you don’t have total control of your funds. And with exchanges regularly (and sometimes successfully) targeted by hackers, storing crypto on an exchange long-term is very risky.

Learn more about cryptocurrency wallets

Next steps

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

Check out our reviews on a range of leading cryptocurrency exchanges in Canada and around the world. Compare the features, fees and pros and cons of each Bitcoin exchange and consider how they align with your trading requirements.

Frequently asked questions about cryptocurrency exchanges

A-Z list of cryptocurrency 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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