KuCoin exchange alternatives in Canada

KuCoin is a Seychelles-based crypto exchange where users can buy and sell over 700 cryptocurrencies. It’s also one of the world’s largest exchanges, so you might be wondering, “Can I use KuCoin in Canada?” Keep reading to find out.

Is KuCoin available in Canada?

No, KuCoin is not available in Canada. The Canadian Securities Administrators (CSA) lists KuCoin as a banned crypto trading platform.

So, if you want to buy and sell digital currencies, you’ll need to search for KuCoin exchange alternatives in Canada.

4 KuCoin alternatives in Canada

Compare these five KuCoin alternatives to find the right trading platform for your needs.

Finder Score	Cryptocurrencies	Fiat currencies	FINTRAC registered
Coinbase
9.7Excellent Coinbase Finder Award	9.7Excellent	288	1		Go to site Capital at risk More info Compare product selection Compare	loading	Why we like it 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. It offers a user-friendly platform and highly-rated mobile app. Coinbase also offers the option to earn crypto rewards by watching learning videos and completing quizzes. Pros & cons 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
Kraken
8.8Great Kraken	8.8Great	381	7		Go to site Capital at risk More info Compare product selection Compare	loading	Why we like it Kraken is a well-known name in the crypto world, having been first established in 2011. This global platform lets you trade over 300 cryptocurrencies, offering a simple trading platform for crypto beginners as well as Kraken Pro for advanced traders. There's also a user-friendly mobile app available if you want to trade from your smartphone. Pros & cons Pros One of the world's oldest crypto exchanges Access a wide range of cryptos 24/7 customer support Good for beginners as well as advanced traders Cons Low Trustpilot user ratings You'll find lower fees on other platforms
Paybis
7.7Great Paybis	7.7Great	83	50		Go to site Capital at risk More info Compare product selection Compare	loading	Why we like it If you're searching for a platform that makes it quick and easy to buy crypto as a newbie, Paybis is worth a closer look. This global exchange offers a simple user interface that allows you to buy crypto with fiat currency, and you can also buy via a highly rated mobile app. With 24/7 support available, help is at hand if you have any questions. Pros & cons Pros Beginner friendly Supports a wide range of deposit methods Quick and easy to use Multiple payment options available Cons You can only sell a limited range of cryptos Other platforms have lower fees Paybis Wallet is not available in Canada
VirgoCX
7.3Great VirgoCX	7.3Great	45	2		Compare product selection Compare	loading	Why we like it Founded in 2018, VirgoCX is a Canadian crypto trading platform based in Toronto. This user-friendly platform offers free cash deposits and withdrawals and is designed to offer a quick and easy crypto buying experience for users. There are over 85 cryptos to trade on VirgoCX, and the platform is authorized to do business with Canadians by the CSA. Pros & cons Pros Canadian crypto exchange User-friendly platform Free deposits and withdrawals Multilingual support Cons Spreads of 0.95% to 1.60% Watch out for fees for credit and debit card deposits Not as many cryptocurrencies as some other platforms

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What is the KuCoin exchange platform?

KuCoin is a centralized crypto exchange that was first established in China but is now based in the Seychelles. Founded in 2017, it offers the following services to users in over 200 countries.

Trade over 700 cryptocurrencies

Users in countries served by KuCoin can buy and sell over 700 digital currencies on the platform. You can deposit crypto or buy with your credit, debit card or bank transfer. The platform also supports P2P trading, margin trading, derivatives and more.

KuCoin fees

KuCoin has a maker/taker fee structure for spot crypto trading. However, the fee that applies varies depending on your VIP account level, which is determined by factors like your 30-day trading volume and the amount of the exchange’s official token—KuCoin Tokens (KCS)—you hold. It’s also worth noting that users get a 20% fee discount if they pay for fees with KCS.

These fees (shown here from KuCoin’s operation in Australia) are quite competitive when compared to the other platforms featured in this guide.

For example, Bitget’s maker and taker fees also start at 0.10%, but VIP members can take advantage of discounts. Kraken Pro members are charged maker and taker fees of 0%-0.25% (Pro account) and 0.1%-0.4% (Pro account) respectively, but there are also discounts available for high-volume traders.

KuCard

The KuCard is a Visa debit card that allows you to spend your cryptocurrency in the real world. This crypto-to-fiat card works with both Apple Pay and Google Pay, and it supports over 50 cryptocurrencies as well as one fiat currency (euros).

KuCoin Pay

KuCoin Pay is a merchant payment solution designed to allow retailers to accept cryptocurrency payments. It supports hundreds of digital currencies and allows verified KuCoin users to pay with crypto.

KuCoin Earn

KuCoin Earn provides savings, staking and high-yield promotional opportunities for crypto holders. Users can also earn income by providing cryptocurrency loans.

Is KuCoin legal in Canada?

No, KuCoin is not legal in Canada. KuCoin is listed as a banned crypto trading platform according to the Canadian Securities Administrators (CSA).

A June 2022 decision from the Ontario Securities Commission found that KuCoin failed to comply with Ontario Securities law, and that its serious misconduct warranted a $2 million administrative penalty and a permanent market participation ban. According to the CSA, the Ontario regulator’s ruling is reciprocated in other provinces/territories.

So, if you want to buy and sell crypto in Canada, you’ll need to look for KuCoin alternatives.

When did KuCoin come to Canada, and why did it leave?

KuCoin was founded in 2017 but is now banned in Canada. In June 2022, the Ontario Securities Commission’s Capital Markets Tribunal found that the crypto exchange had sold crypto contracts and crypto futures contracts in the province. KuCoin breached the Ontario Securities Act by:

• Engaging in the business of trading securities without being registered to do so and
• Distributing securities without a prospectus

As a result, KuCoin was hit with a hefty fine and banned from offering its services in Ontario. Information on the CSA website states that this decision was reciprocated in other provinces/territories.

Does KuCoin work in Canada?

While the KuCoin website is accessible in Canada, the platform does not offer services to Canadian customers. So, if you want to buy or sell crypto, you’ll need to search for an exchange that’s authorized to offer services in Canada.

If you live in a country where KuCoin is still available and you’ve previously signed up for an account, you’ll still be able to access your account while visiting Canada.

How to get money out of KuCoin in Canada?

If you want to convert your KuCoin crypto holdings to CAD, here’s what you need to do.

1. Choose a crypto exchange that supports the cryptocurrencies you want to sell and also supports fiat currency withdrawals.
2. Open an account on that exchange and copy the wallet address for the crypto you want to deposit.
3. Log in to your KuCoin account.
4. Select Assets followed by Overview and then Withdraw.
5. Use the dropdown menu to select the cryptocurrency you want to withdraw.
6. Paste the address of the wallet you’ll be withdrawing to.
7. Enter the withdrawal amount and select the correct network.
8. Review all details of the transaction before selecting Withdraw.

Can I withdraw from KuCoin to my bank account?

Unfortunately, you can’t withdraw fiat currency directly from KuCoin to a bank account. You will instead need to move your crypto holdings to another exchange that supports fiat withdrawals then sell your digital currencies before withdrawing fiat currency to your bank account.

What countries is KuCoin available in?

KuCoin is available in over 200 countries around the world. However, the exchange’s Terms of Use list the following restricted locations where its services are not available:

• Ontario (Canada)
• United States (including US territories, such as Puerto Rico, Guam, the Northern Mariana Islands and American Samoa)
• Singapore
• The mainland of China and Hong Kong
• Malaysia
• Uzbekistan

Is KuCoin safe?

KuCoin is one of the world’s largest crypto exchanges and uses multi-factor authentication, anti-phishing and anti-fraud measures to protect customer accounts. However, it was the victim of a widely publicized hack in 2020, when hackers stole around US$275 million worth of cryptocurrency.

KuCoin is also a banned crypto trading platform in Canada, so make sure you search for reputable exchanges when deciding where to buy and sell cryptocurrency. For example, VirgoCX is authorized to do business with Canadians by the CSA, while platforms like Kraken have filed pre-registration undertakings with the Ontario Securities Commission.

Bottom line

While you can’t use KuCoin in Canada, there are several other options worth checking out. Compare a wide range of crypto exchanges based on your trading needs to find the best Kucoin exchange alternative for you.

Frequently asked questions about KuCoin in Canada

• Which organizations regulate crypto in Canada?

  Crypto exchanges in Canada must be registered with FINTRAC as money services businesses. They must also report large transactions to FINTRAC and verify the identity of platform users to meet Know Your Customer (KYC) requirements.

  Provincial securities regulators also have a regulatory role to play. The Canadian Securities Administrators (CSA) issues guidance about the regulation of crypto assets, and provincial regulators like the Ontario Securities Commission (OSC) ensure that exchanges comply with that guidance.

• How do I fund KuCoin in Canada?

  You can't fund a KuCoin account in Canada. The Canadian Securities Administrators (CSA) lists KuCoin as a banned crypto trading platform, so Canadians are unable to use the platform. You'll need to compare other exchanges that are authorized to offer crypto trading services in Canada instead.

• Can I use KuCoin in Alberta?

  No. In April 2023, the Alberta Securities Commission added KuCoin to its Investment Caution List. The regulator warned that KuCoin is not registered to trade in or advise on securities or derivatives in Alberta. The Canadian Securities Administrators also lists KuCoin as a banned crypto trading platform.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-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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