The Finder Crypto Trading Platform Awards 2022 program recognizes Canada’s best platforms for investing in crypto.
Finder’s data scientists and cryptocurrency experts ran the numbers and scored participating crypto trading platforms on a comprehensive list of 55 criteria.
The platform with the highest score across the board was named as the winner, with the products that scored second and third highest each receiving a “Highly Commended” award.
Best Cryptocurrency Exchange – Overall:
Kraken
Kraken scored consistently well across the board for its beginner-friendly features, value for money and 24/7 customer service, securing its place as our overall winner. The feature-filled exchange is a solid choice for users looking for a platform that suits both new and experienced crypto traders alike.
Kraken lets customers buy, sell and earn cryptocurrency without breaking the bank. Low trading fees, zero account fees and fee-free staking helped make this global exchange stand out. We also like that you can get started with CAD$10 or less.
Kraken took the lead in yet another one of our categories as the most beginner-friendly crypto trading platform. Its easy-to-use interface, highly-rated mobile app, informative guides and round-the-clock customer support are great for helping newbies get off to a strong start.
The top scoring platform in our advanced features category, Crypto.com, lets customers go beyond making basic trades with support for crypto staking, lending and borrowing. It even offers a free crypto-linked debit card – the first of its kind in the world.
When it comes to the breadth of assets users can trade, Crypto.com really shines with support for buying, selling and trading 250+ coins with strong liquidity. Zero-fee CAD wallet deposits provide an added bonus for those looking to explore the market beyond Bitcoin.
Calgary-based NDAX is a solid homegrown alternative to bigger exchanges based outside of Canada. It scored consistently well across the board but really came into its own for its suite of beginner-friendly features.
It stands out among other Canadian exchanges with support for a number of popular cryptocurrencies, low fees, a user-friendly interface and free CAD deposits.
Wealthsimple was dominant across the board in our broker category, with special mentions for its beginner-friendly interface and portfolio management tools. As Canada’s first regulated cryptocurrency platform, this Toronto-based fintech now has a steady reputation for helping Canadians grow their wealth.
You can use it to invest in 50+ cryptocurrencies with free deposits and withdrawals as well as set automated orders. Plus, we love the convenience of being able to trade stocks, ETFs and cryptocurrencies all in the same app.
Here’s how our expert analysts assessed Canadian crypto trading platforms to pick the 2022 winner.
Selection criteria
We conducted an extensive market review of the Canadian cryptocurrency market and contacted 63 cryptocurrency exchanges and brokers in June/July 2022 to participate in the awards program. Any platforms that didn’t complete the information form were not included in the final analysis.
All platforms included were required to be registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to be considered for an award.
The awards for “Best Cryptocurrency Exchange – Overall” and “Best Crypto Trading Platform – Broker” were given to the business that had the highest average score across the 4 following categories, each contributing 25% of the score for the overall winner:
Beginners
Value
Altcoin trading
Advanced features
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. 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.
Canadian cryptocurrency exchange NDAX allows you to trade Bitcoin, Ethereum and other major digital currencies with Canadian dollars. Find out more about the platform’s fees and features in this comprehensive review.
Your guide to Canadian-based bitcoin buying service MyBTC.ca, including its fees and features and any other pros and cons new users should be aware of.
Find out how Coinsquare works, what its fees are and why you may want to consider other exchanges.
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