6 Binance Canada alternatives

Binance is no longer available in Canada, but these six alternative crypto exchanges are.

Kraken

Kraken logo
  • Buy, sell and trade 185+ cryptos
  • Low fees for active traders
  • Advanced trading interface
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Certain trading features are limited or unavailable to residents of Ontario and Quebec.

Binance is the world’s largest crypto exchange in terms of daily trading volume, providing an online trading platform where users can buy and sell over 350 cryptocurrencies. If you’ve landed on this guide, you’re probably wondering if you can use Binance in Canada.

While the answer is no, the good news is that there are several legit crypto exchange alternatives you can choose from.

Is Binance exchange available in Canada?

No, Binance is no longer available in Canada. While Binance previously operated in Canada, it announced its withdrawal from the Canadian market in 2023, citing regulatory restrictions.

So, if you’re searching for a cryptocurrency exchange in Canada, you’ll need to consider other options.

What is the best Binance alternative in Canada?

Compare these six exchanges to help you find the best Binance alternative in Canada.

Kraken

Kraken

270+
Supported cryptos
7
Fiat currencies
Ranked as one of the world's top 10 cryptocurrency exchanges by CoinMarketCap, Kraken is a user-friendly exchange that supports trading over 200 CAD pairs. You can deposit CAD to your Kraken account via credit or debit card, wire transfer, Interac e-Transfer or in person at a Canada Post outlet, and there's 24/7 support if you need any help. Like Binance, the platform is easily accessible for beginners while also offering advanced tools for experienced traders.
Pros
  • Founded in 2011 (that's old in crypto terms)
  • 24/7 customer support
  • Large trading volume
  • Pre-registered with the Ontario Securities Commission (OSC)
Cons
  • Watch out for fees
  • Margin and futures trading not available
  • Slow processing time for Pro account verification
Deposit methods Credit card, Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer, Apple Pay, Google Pay
Deposit fees Interac e-Transfer: 0.5%
Apple Pay/Google Pay: variable
Crypto: Free for most cryptos
Wire transfers: $0-$3
Canada Post cash/debit: $1.25+0.25%
Withdrawal fees Interac e-Transfer: $10
EFT: 0.35%
Wire: $0-$35
Crypto: variable
Trading fees Maker (Pro account): 0%-0.25%
Taker (Pro account): 0.1%-0.4%

Coinbase

Coinbase

280+
Supported cryptos
1
Fiat currency
Buy your first crypto and get $10 in BTC with code BTCCA10. Canadian users only.
Coinbase is one of the largest crypto exchanges in the world by trading volume. You can deposit funds for free via Interac e-Transfer, and instantly purchase crypto via debit. Coinbase offers a user-friendly platform and highly-rated mobile app. Like Binance, Coinbase offers the option to earn crypto rewards by watching learning videos and completing quizzes.
Pros
  • Easy signup process
  • Trade 280+ cryptos
  • Free e-transfer deposits
  • Instant withdrawals to most banks
  • Discounted volume pricing with Coinbase Advanced
  • Registered with the Canadian Securities Administrators (CSA) and Ontario Securities Commission (OSC)
Cons
  • Only hold CAD in Canadian accounts
  • No credit card purchases in Canada
  • No margin, futures or options trading in Canada
Deposit methods Debit card, Electronic Funds Transfer, Interac e-Transfer, PayPal
Deposit fees Interac e-Transfer: free
Transfers from another Coinbase account: free
EFT: variable
Withdrawal fees Interac e-Transfer / EFT / PayPal: variable
Transfers to another Coinbase account: free
Trading fees Maker fee: 0% and 0.4%
Taker fee: 0.05% - 0.6%

Uphold

Uphold

210+
Supported cryptos
20
Fiat currencies
Uphold is a financial services platform where you can trade crypto and precious metals. Launched in 2015, Uphold makes it easy to open an account and start trading. It also supports staking if you want to earn interest on your crypto holdings like you can with Binance Earn, and there are multiple ways to fund your account.
Pros
  • More than just a crypto exchange
  • Access over 250 cryptocurrencies
  • Easy to use
  • Handy mobile app
Cons
  • Lacks advanced tools for experienced traders
  • You might get cheaper fees elsewhere
  • 2.6/5 stars based on over 9,500 Trustpilot reviews
Deposit methods Credit card, Debit card, Apple Pay, Google Pay
Deposit fees Fiat: 3.99%
Withdrawal fees Crypto: $0.99
Trading fees Trades under $500: $0.99 (plus spreads)

Paybis

Paybis Cryptocurrency Exchange

80+
Supported cryptos
60
Fiat currencies
Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
Paybis was founded in 2014 and aims to make it easy to buy crypto with fiat currency. You can buy instantly with your credit or debit card, and it's simple to sign up for an account and get started. This Binance alternative in Canada offers dozens of cryptos to choose from plus a user-friendly app so you can trade on the go.
Pros
  • Easy to use
  • Buy over 85 cryptocurrencies
  • Wide range of deposit methods supported
  • 24/7 customer support
  • Buy and sell BNB
Cons
  • Can only sell a limited number of cryptocurrencies
  • Watch out for high deposit and withdrawal fees
  • Not suitable for advanced traders
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 $2 USD minimum per transaction

VirgoCX

VirgoCX Cryptocurrency Exchange

70+
Supported cryptos
2
Fiat currencies
Canadian crypto exchange VirgoCX lets you buy over 60 currencies. It's quick and easy to buy crypto with CAD, while free cash deposits and withdrawals are another big selling point. If you're a frequent trader, you can take advantage of discounted spreads through the platform's tiered rewards program.
Pros
  • Easy-to-use mobile app available
  • Instant deposits
  • Regulated in Canada
Cons
  • Other platforms offer access to a wider range of cryptocurrencies
  • Percentage fees when you deposit via debit or credit card
  • Spreads of 0.95% to 1.60%
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

Bitget

Bitget

870+
Supported cryptos
45
Fiat currencies
Sign up and receive a 6,200 USDT newcomer's gift package.
Bitget is a popular crypto exchange that supports over 800 cryptocurrencies and more than 140 fiat currencies. A solid Binance alternative in Canada, Bitget offers multiple payment methods, charges competitive trading fees and supports spot, margin and futures trading. Crypto staking is also available if you want to earn some passive income.
Pros
  • Copy trading feature
  • Multiple deposit methods
  • Access a huge range of crypto assets
  • Low fees
  • Buy and sell BNB
Cons
  • 3/5 stars based on 2,000+ Trustpilot reviews
  • Some complaints about poor customer support
Deposit methods Bank transfer, Credit card, Cryptocurrency, Debit card
Deposit fees None
Withdrawal fees Fees vary
Trading fees Maker: 0.02%-0.10%
Taker: 0.032% - 0.10%
Advanced Trading Features Yes

What is the Binance crypto exchange platform?

Binance is the world’s largest crypto exchange. Founded in 2017, it was originally based in Shanghai, China before moving to Japan and then Malta. The platform claims to have 235 million registered users in over 180 countries.

Binance offers users the following features.

Trade over 350 cryptocurrencies

You can use Binance to trade over 350 cryptos, including major coins like bitcoin and ethereum as well as a wide range of altcoins. Spot trading and margin trading are available, while Binance also offers P2P trading and advanced features like bots and copy trading.

Multiple buying methods

Users can buy cryptocurrency on Binance using credit card, debit card, Apple Pay, Google Pay and their account’s cash balance. Crypto-to-crypto trading is also widely available on the platform.

Low fees

Binance maker and taker fees can start at around 0.10%. There are no fees for crypto deposits, but fiat currency deposit fees may apply, depending on the currency being used. Withdrawal fees may also apply.

BNB token

Binance also has its own crypto token, Binance Coin (BNB). BNB can be used to trade on Binance, and users receive a 25% trading fee discount when trading with BNB.

You can buy and sell BNB coin on platforms other than Binance. So, although the Binance platform isn’t available in Canada, you can still trade Binance coin on exchanges in Canada like Paybis and Bitget.

Binance Earn

The Binance Earn platform allows users to earn interest on their crypto holdings. It offers access to a range of centralized and decentralized finance options to allow you to earn passive income from over 180 cryptocurrencies.

Why did Binance leave Canada?

Binance took to Twitter in May 2023 to announce that it would be withdrawing from the Canadian market.

“Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace. We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users…,” read the tweet.

The announcement came not long after the Canadian Securities Administrators (CSA) introduced strict regulations requiring mandatory registrations and investor limits for crypto exchanges as well as tightened rules around stablecoin trading.

“Unfortunately, (the) new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” Binance explained in a tweet.

No, Binance is not legal in Canada. The platform withdrew from Canada in 2023 and now features Canada on a list of prohibited countries in its Terms of Use.

Binance also managed to fall foul of Canadian regulators. In May 2024, FINTRAC imposed a $6 million penalty on Binance for failing to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations.

Can you still use Binance in Canada?

Binance put its Canadian accounts into liquidation-only mode in October 2023. This means that you can no longer trade crypto on Binance, but you can use your account to make withdrawals—more on how to do that in a minute.

If you live in a country where Binance is still available, you’ll still be able to access your account while visiting Canada. However, you may need to use a VPN to access the platform.

How do I get my money out of Binance?

You can no longer use Binance to buy cryptocurrency in Canada, but it is still possible to withdraw your Binance holdings to CAD if you have an existing account. There are two options for withdrawing money from Binance:

  • Move it to another exchange. You can then hold funds in your wallet on the new exchange, use it to buy crypto or withdraw it as CAD.
  • Withdraw it to a wallet. Rather than storing your crypto on an exchange, you can move it to a wallet for which you own the private keys.

Learn how to withdraw funds from Binance Canada in our detailed guide.

Bottom line

Binance is no longer available in Canada, but there are several other popular crypto exchanges to consider if you’re searching for a Binance alternative. Compare a wide range of crypto exchanges to find the best platform for all your crypto trading needs.

FAQs about Binance alternatives in Canada

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Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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