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.
5 KuCoin alternatives in Canada
Compare these five KuCoin alternatives to find the right trading platform for your needs.
Founded in 2011, Kraken is one of the oldest names in the crypto world. This US-based exchange allows you to trade over 200 cryptocurrencies, and it operates in over 190 countries around the globe. It's well suited to beginners as well as experienced traders, so it's worth checking out when searching for a KuCoin alternative.
Pros
Established platform with a global presence
Beginner friendly
Wide range of deposit options
Highly rated Kraken Pro mobile app
Cons
Cheaper trading fees available elsewhere
Poor user reviews on Trustpilot
Some complaints about the quality of customer service
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%
Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
Paybis was founded in 2014 and offers a user-friendly crypto-buying platform in over 180 countries around the world. You can buy over 85 cryptocurrencies on Paybis, and it's easy to buy the currency of your choice directly with CAD. Its online platform and mobile app are user-friendly, but crypto-selling services are limited to approximately 10 popular coins.
Pros
Easy way to get started with crypto
Supports a long list of fiat currencies
24/7 customer support
Cons
Only supports selling a small number of cryptos
You'll find lower fees elsewhere
Paybis Wallet not available in Canada
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%
Get a $20 bonus when you open a new account and deposit $100+. T&Cs apply.
VirgoCX is a Toronto-based exchange where you can buy and sell bitcoin, ethereum and over 60 other cryptos. It's easy to use, supports a wide range of payment methods and also includes advanced tools for more experienced traders. Best of all, the Canadian Securities Administrators lists VirgoCX as a crypto trading platform authorized to do business with Canadians.
Pros
Canadian platform
Suits beginners as well as more advanced traders
24/7 live support
Wide range of payment options
Cons
Doesn't support as many cryptocurrencies as KuCoin
Watch out for fees if you pay by card
Lower trading fees elsewhere
Deposit methods
Credit card, Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer
Uphold is a multi-asset trading platform that aims to let you trade 'anything to anything.' Fiat currencies, precious metals and hundreds of cryptocurrencies are all available through this exchange, and it's easy to get started online or via mobile app. Uphold is committed to transparency and provides real-time information about its reserves.
Sign up and receive a 6,200 USDT newcomer's gift package.
With 45 million users, a high daily trading volume and features to suit advanced traders, Bitget is another of the world's most popular crypto exchanges. It allows users to buy and sell over 800 cryptocurrencies, and you also have the option of buying directly with your credit or debit card. A copy trading feature is also provided, along with margin and futures trading.
Pros
Huge range of cryptos
Competitive fees
Copy trading feature
Highly rated mobile app
Cons
Some mixed reviews
Some complaints about customer service
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card
Deposit fees
None
Withdrawal fees
Fees vary
Trading fees
Maker: 0.02%-0.10% Taker: 0.03%-0.10%
Advanced Trading Features
Yes
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 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.
Type
Fee
Maker
-0.005 — 0.100%
Taker
0.025 — 0.100%
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.
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.
Choose a crypto exchange that supports the cryptocurrencies you want to sell and also supports fiat currency withdrawals.
Open an account on that exchange and copy the wallet address for the crypto you want to deposit.
Log in to your KuCoin account.
Select Assets followed by Overview and then Withdraw.
Use the dropdown menu to select the cryptocurrency you want to withdraw.
Paste the address of the wallet you’ll be withdrawing to.
Enter the withdrawal amount and select the correct network.
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 and Uphold 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
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.
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.
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.
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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