{"id":1066718,"date":"2025-11-03T16:48:44","date_gmt":"2025-11-03T21:48:44","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1066718"},"modified":"2026-01-28T12:26:46","modified_gmt":"2026-01-28T17:26:46","slug":"crypto-scams","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/cryptocurrency\/crypto-scams","title":{"rendered":"Crypto scams and legit trading platforms"},"content":{"rendered":"

Crypto scams are far too common. To ensure that you don\u2019t become a victim, we\u2019ve put together this guide to legit crypto exchanges in Canada. We\u2019ve also included some key information about common crypto scams and how to spot the red flags that could indicate a scam. Keep reading for tips on how to stay safe when trading cryptocurrency.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

\nThis is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.\n<\/p><\/div>\n\n

Which crypto platforms are legit?<\/h3>

If you want to buy cryptocurrency, you need to trade on a reputable crypto exchange that is properly regulated and authorized to operate in Canada\u2014like from the Canadian Investment Regulatory Organization (CIRO) and the Canadian Securities Administrators (CSA).<\/p>

Check the table below for details of legit crypto platforms in Canada.<\/p>
Crypto platform<\/th>Key Features<\/th>How it\u2019s legit<\/th>Get started<\/th><\/tr><\/thead>
\"Coinbase\"<\/td>
  • Trade over 200 cryptocurrencies<\/li>
  • Supports Interac e-Transfer, electronic funds transfer and PayPal<\/li>
  • Buy crypto directly with a credit or debit card<\/li>
  • Also supports staking and crypto lending<\/li><\/ul><\/td>
  • Registered as a Restricted Dealer in all provinces and territories by the CSA<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li><\/ul><\/td>
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\"Kraken\"<\/td>
  • Buy, sell and trade a range of digital currencies on this high-liquidity exchange\u2014suitable for beginners right through to advanced traders. Certain trading features are limited or unavailable to residents of Ontario and Quebec.<\/strong><\/li>
  • Supports e-Transfer deposits<\/li>
  • Supports staking<\/li>
  • 24\/7 support<\/li><\/ul><\/td>
  • Registered as a Restricted Dealer with the OSC and the securities regulators in all provinces and territories<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li><\/ul><\/td>
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\"Paybis<\/td>
  • Use code Finder30 to get a 30% discount on all commission for 1 transaction. T&Cs apply.<\/strong><\/span>
    Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.<\/li>
  • Buy crypto with credit card, debit card, Revolut Pay or bank transfer<\/li>
  • 24\/7 online support<\/li><\/ul><\/td>
  • Registered with FINTRAC as a Money Services Business<\/li>
  • 4\/5 stars based on over 29,000 Trustpilot reviews<\/li><\/ul><\/td>
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\"bitbuy\"<\/td>
  • Get $40 on a first deposit of $250 or more.<\/strong><\/span>
    At this Canada-based cryptocurrency exchange, you can fund your account in CAD via Interac eTransfer and bank wire.<\/li>
  • Accepts crypto, wire and e-Transfer deposits<\/li>
  • Supports staking<\/li>
  • Advanced trading tools<\/li><\/ul><\/td>
  • Registered as a Restricted Dealer with the Ontario Securities Commission (OSC) and CSA<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li>
  • Member of the CIRO<\/li>
  • Member of the Canadian Investor Protection Fund (CIPF)<\/li><\/ul><\/td>
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\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
\"MyBTC.ca<\/td>
  • Buy BTC and ETH instantly<\/li>
  • Accepts e-Transfers, wire transfers, credit cards, debit cards and Flexepon vouchers<\/li>
  • Non-custodial exchange<\/li><\/ul><\/td>
  • Registered with FINTRAC as a Money Services Business<\/li>
  • 4.8\/5 stars based on over 260 Trustpilot reviews<\/li><\/ul><\/td>
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\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
\"Coinsquare<\/td>
  • Finder exclusive: Get a $10 bonus when you deposit at least CAD$100. T&Cs apply.<\/strong><\/span>

    Trade some of the most popular cryptocurrencies with competitive fees on this intuitively designed Canadian exchange.<\/li>
  • Founded in 2014<\/li>
  • Supports staking<\/li><\/ul><\/td>
  • Registered as a CIRO Investment Dealer and Marketplace Member<\/li>
  • Member of the CIPF<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li><\/ul><\/td>
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\"Crypto.com<\/td>
  • Buy 470+ cryptocurrencies, earn by staking, pay with your crypto for CRO rewards and more with this cryptofinance platform.<\/li>
  • Accepts bank transfers, credit cards, debit cards and crypto deposits<\/li>
  • Supports staking<\/li>
  • Highly rated mobile app<\/li><\/ul><\/td>
  • Registered with the OSC and the CSA as a Restricted Dealer<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li><\/ul><\/td>
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\"Ndax<\/td>
  • Ndax is a Canada-based digital asset exchange with CAD currency pairs and options for advanced traders.<\/li>
  • Accepts crypto, wire and e-Transfer deposits<\/li>
  • Supports staking<\/li>
  • Advanced order types<\/li><\/ul><\/td>
  • Registered investment dealer under securities legislation in all provinces and territories of Canada<\/li>
  • Member of the CIRO<\/li>
  • Member of the CIPF<\/li>
  • Registered with FINTRAC and Revenue Qu\u00e9bec as a Money Services Business<\/li><\/ul><\/td>
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\"Netcoins\"<\/td>
  • Buy Bitcoin and 60+ other cryptos instantly using this straightforward broker.<\/li>
  • Instantly buy and sell crypto<\/li>
  • Accepts crypto, wire and e-Transfer deposits<\/li>
  • Supports staking<\/li><\/ul><\/td>
  • Registered with the British Columbia Securities Commission and the securities authorities in all Canadian provinces and territories<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li><\/ul><\/td>
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\"Newton<\/td>
  • Accepts crypto, wire and e-Transfer deposits<\/li>
  • Highly rated mobile app<\/li>
  • Supports staking<\/li><\/ul><\/td>
  • Registered as a restricted dealer with the OSC and the securities regulatory authorities in all provinces and territories<\/li>
  • Registered with FINTRAC as a Money Services Business<\/li>
  • 4.1\/5 stars based on over 1,000 Trustpilot reviews<\/li><\/ul><\/td>
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\"Shakepay<\/td>
  • Commission-free trading<\/li>
  • Earn Bitcoin rewards<\/li>
  • Highly rated mobile app<\/li><\/ul><\/td>
  • Member of CIRO<\/li>
  • Registered as an Investment Dealer in all Canadian provinces and territories<\/li>
  • Registered as a Money Services Business with FINTRAC<\/li><\/ul><\/td>
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\"VirgoCX\"<\/td>
  • Free deposits and withdrawals<\/li>
  • Fund your account via e-Transfer, debit card or credit card<\/li><\/ul><\/td>
  • Registered as a restricted dealer with the CSA<\/li>
  • Registered as a Money Services Business with FINTRAC<\/li><\/ul><\/td>
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\"Wealthsimple<\/td>
  • Instant deposits<\/li>
  • No deposit or withdrawal fees<\/li>
  • Supports staking<\/li><\/ul><\/td>
  • Member of the CIRO<\/li>
  • Registered as a Money Services Business with FINTRAC<\/li>
  • Operates under time-limited relief from the CSA<\/li><\/ul><\/td>
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\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Check out our guide to the best crypto exchanges in Canada<\/a>\n<\/div>\n<\/article>

Are other crypto platforms legitimate and which are fake?<\/h3>