If you’re looking to buy crypto in Canada, It’s important to find a safe crypto exchange that meets your needs in terms of trade types, features, and fee structure.
Many Canadian crypto exchanges have attractive signup bonuses to look for as well. Our team has over a decade of experience in the crypto industry and has created a shortlist to help you choose a reliable and safe exchange in Canada.
Here are our picks for the best crypto exchanges in Canada.
Best Canadian Crypto Exchanges: Comparison
| Crypto Exchange | What it’s known for | Fees | Sign Up Bonus |
|---|---|---|---|
| Crypto.com | Best for low fees | 0 – 0.075% | N/A |
| KuCoin | Best for advanced day trading | 0.1% | Up to $700 |
| Kraken Canada | Best overall | 0 – 0.3% | $10 |
| NDAX | Best for security | 0.2% | N/A |
| Coinbase | Best for beginners | 0.05% – 0.6% | Up to $400 |
| Bitbuy | Best customer support | 2% | N/A |
| Coinsquare | Best for long-term crypto investing | 0.5% – 1.85% | $30+ for $1,000+ deposits |
1. Crypto.com
Best for low fees
Crypto.com is becoming the most popular crypto exchange in the space with its name on stadiums and partnerships with celebrities.
Crypto.com has become compliant in Canada and is fully regulated, including in Ontario. They have proof of reserves and use security protocols like Multi-Factor Authentication (MFA).
It also popularized crypto cards for use in everyday spending. While the physical cards have yet to make their way to Canada, their virtual cards are available and still earn up to 10% cash back at over 300,000 retailers.
Trading fees are very low, starting at less than 0.1% and going as low as zero. We were impressed by the 250+ cryptocurrencies available, and the extensive features on the platform.
Canadians can deposit CAD for free using Interac e-transfer, making it convenient to get started and top up. You can also use debit or credit cards and transfer existing crypto.
Pros
+Very competitive trading fees
+Attractive user interface
+Rewards are a huge bonus
Cons
-Metal VISA cards aren’t available in Canada
We loved Crypto.com for the low fees, it’s a huge benefit for traders of all levels on top of the rewards and seamless platform.
More details
Crypto.com offers a straightforward approach to cryptocurrency trading. Opening an account with crypto.com is quick and easy. It includes state-of-the-art safety measures that make it safe for users to buy and sell crypto quickly. This crypto exchange is highly recommended for anyone looking to securely trade large amounts of cryptocurrency!
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250+ cryptocurrencies to choose from.
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Firm and unparalleled security to users.
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Earn interest in crypto.
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Top-rated mobile app.
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Low fees on trading and trading fee discounts.
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Slow identity verification.
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Customer service could respond faster.
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Lack of educational resources for new users.
2. KuCoin
Best for advanced day trading
KuCoin is the perfect crypto exchange for experienced traders in Canada, as long as they reside outside of Ontario. There are over 700 coins available, one of the widest selections available in the industry.
KuCoin is compliant in Canada and uses MFA, data encryption, and a bug bounty program to help keep the platform secure.
We loved the advanced trading features and charting tools, which have been built for experienced investors and may be challenging for beginners to adjust to. Futures and margin trading are available, and we’re always excited to see automated trading bots as a feature.
Trading fees are competitive even for low-volume traders, starting at 0.1% and going down for more active traders. Sign-up bonuses of up to 700 USDT are available for the first deposit and for trying different trade types.
Pros
+Futures and margins trading
+Automated trading bots
Cons
-Not available in Ontario
If you’re an experienced crypto investor located in Quebec, British Columbia, or anywhere outside of Ontario, KuCoin is a great crypto exchange to consider.
More details
Kucoin stands out among other crypto exchanges due to its impressive span of 1100 markets and 600 digital currencies. This, coupled with a user-friendly interface and secure investment environment, has made Kucoin an increasingly popular choice. However, US customers can not use the trading platform.
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Ability to earn interest on crypto.
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Low fees.
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Good customer service.
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Volume discounts on fees.
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Features like margin and futures trading.
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Not licensed in the U.S.
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Lack of investment programs.
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Low trading volume.
3. Kraken Canada
Best overall
Kraken has established itself as one of the top crypto exchanges globally.
This crypto exchange has proof of reserves and is mindful of compliance, an important factor for any investor. This is to abide by local crypto regulations, which is important for Kraken Canada’s longevity. We were impressed to see that it’s SOC 2 compliant and follows industry-standard security practices like 2FA and encryption.
While it’s available in Canada, it’s a region-specific platform that has a reduced set of cryptocurrency trading features. Staking is available, as is margin trading for customers meeting certain requirements, but futures are not.
Fees are competitive (0.1%), especially on Kraken Pro which also offers more advanced trading features. We love the ease of use of Kraken with the option to access more complex tools.
Pros
+Low trading fees
+Proof of reserves
+Kraken Pro is great for advanced traders
Cons
-Reduced trading types and features in Canada
Overall, Kraken is the best crypto exchange for Canadian investors with its well-rounded features and low fees.
More details
Kraken Exchange offers a robust platform for serious crypto traders. It stands out with its diverse coin selection, advanced trading features, and competitive fees. However, its complex interface may prove challenging for beginners. Strong security measures further reinforce its reliability.
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Margin trading and staking.
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Support/chat is one of the best.
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Low trading fees to withdraw Bitcoin (BTC).
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Provides tons of resources for learning.
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Only a few fiat currencies.
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Doesn't accept debit cards or Paypal.
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Has three apps.
4. NDAX
Best for security
NDAX is a Canadian crypto exchange, founded in Calgary in 2018.
We love that this cryptocurrency exchange has strict security standards while providing instant ID verification to get started quickly. It’s committed to complying with Canadian securities regulations and provides insurance for all assets.
Fees are very competitive, starting at 0.2%. There are currently just over 35 coins available, a smaller selection compared to other Canadian crypto exchanges. Crypto staking is available to earn up to a 12% return on your holdings.
Customer support is provided 24/7 and the site provides extensive free learning resources and market dashboards that our team found valuable.
Pros
+Low trading fees
+Secure and compliant
Cons
-Limited crypto coins available
NDAX is one of the best crypto exchanges in Canada offering competitive fees and strong security features. Get started trading now.
5. Coinbase
Best for beginners
Coinbase is one of the biggest crypto exchanges in the world and is available throughout Canada. It’s focused on security and keeping up with compliance measures, so it’s a reliable choice for crypto investors.
The interface is very intuitive and easy to learn, one of the things we love about Coinbase. Our favorite feature, though, is Coinbase Learn which provides free crypto for completing educational resources. You can earn up to $200 in crypto on top of up to $200 in sign-up bonuses, perfect for beginners.
Fees can be a bit higher than other exchanges starting at 0.6%, but go down as low as 0.05% on premium plans and with higher crypto trading volume.
Coinbase Advanced is available for those with more experience, providing TradingView charting tools, more complex trade types, APIs, and lower fees. You can use the Coinbase card for everyday purchases and earn rewards, or earn up to 10% from staking.
Pros
+Best user interface for beginners
+Coinbase Learn provides quality educational content and rewards
Cons
-Fees are a bit higher than other exchanges
Coinbase is the best crypto exchange for Canadians just starting out and an all-around trustworthy choice.
More details
Coinbase is one of the largest crypto exchanges in the world and a widely-used platform for buying, selling, and trading over 200 cryptocurrencies. It offers trading solutions for beginner, advanced, and institutional traders alike. Take a look at what makes it an excellent option for individual traders looking to trade in cryptocurrencies and beyond.
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A wide-selection of coin offerings.
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Most secure online crypto platforms.
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Top-rated mobile app.
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Easy interface and user-friendly.
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Expensive and complex fee structure for beginners
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Higher fees as compared to other cryptocurrency exchanges.
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Slow customer support.
6. Bitbuy
Best customer support
Bitbuy is an exclusively Canadian crypto exchange, founded back in 2016.
The exchange is committed to following all regional security and compliance measures, and you’ll never have an issue using CAD to deposit and withdraw since it’s the only fiat currency supported. E-transfer, bank transfer, and credit and debit are available.
We love that Bitbuy stores 90% of funds in cold wallets, in addition to using data encryption and MFA. At this time, only 43 crypto coins are available, which is a bit limiting.
The interface is user-friendly and provides a seamless experience even for new crypto buyers, and Bitbuy is known for its responsive customer support. We were encouraged to read many positive reviews about their support and had a good experience through our own testing.
Fees are higher than some crypto exchanges at up to 2% for trading and 1.5% for fiat currency withdrawals. Crypto staking is available for up to 12.2% return, and they have a Pro plan available for more advanced traders.
Pros
+ Specialized in the Canadian market and regulations
+ Strong security measures
+ Great customer support
Cons
-Higher fees
– Limited cryptocurrencies available
If you’re looking to purchase crypto on a Canada-first exchange with responsive customer service, Bitbuy may be the best option for you.
7. Coinsquare
Best for long-term crypto investing
Coinsquare is a well-known crypto exchange in Canada, offering 40+ coins and over 900 trading pairs. It’s become a fully regulated exchange and offers standard crypto trading, wealth management, and a Pro version for advanced traders.
We love that Coinsquare offers free deposits through e-transfer and wire transfer, and free e-transfer withdrawals which are also the fastest method. Fees are higher than other crypto exchanges, going as high as 1.85%. On Pro, fees are 0.5% which is still not as competitive.
Pro comes with in-depth charting tools, a live order book, and trading logs to level up your investing. We were intrigued by The Wealth platform, which provides white glove service and insurance for assets up to $1M CAD.
Coinsquare offers a promotion to get bonuses for opening an account and transferring $1,000 CAD or more, starting at $30.
Pros
+Wealth platform sets it apart for high-volume traders
+No withdrawal fees
Cons
-High trading fees
Coinsquare has become a staple in the crypto industry in Canada and is the best crypto exchange for long-term investments.
How we choose the best Crypto Exchanges in Canada
Our team has extensive experience in the crypto industry and takes the time to carefully research, test, and compare the exchanges we include in our top picks.
We assess crypto exchanges on a consistent set of factors that we know our readers value and that contribute to trading success. We extensively vet each platform, looking into its history, security, compliance, fee structure, and capabilities, and then put them to the test to assess the user experience and share our hands-on commentary.
Availability
Since we set out to evaluate Canadian crypto exchanges, we made sure our picks were available in this region. We confirmed the availability in each province and any differences in features and called those out for your reference.
We look at the available cryptocurrencies to confirm that there’s a variety, including popular options like Ethereum and a selection of altcoins. Before you decide on an exchange, confirm the specific currencies you want to use in your crypto trades are available.
We also validate that the fiat currency you want to use, mainly CAD, is available for deposits and withdrawals.
Competitive fees
Fees are always a key factor we evaluate when recommending crypto exchanges. Our team reviews the full fee structure, including trading fees, deposit fees, and withdrawal fees to help you avoid surprises later.
Trading fees can start to add up, particularly with recurring crypto transactions and advanced trading strategies. Withdrawal fees can also be surprisingly high and cut into the earnings on your crypto trades, so we make sure you know what to expect.
We advise you to define your crypto trading volume and goals, then choose the exchange with a competitive fee structure that’ll help maximize earnings on your crypto holdings.
Safe & secure
Making sure your money is safe is paramount. We made sure the crypto exchanges reflected on this list disclose their security policy and are using strong security practices.
A few things we look for are the collection of Know-Your-Customer (KYC) data, multi-factor authentication (MFA), end-to-end data encryption, and a high percentage of cold wallet storage.
Compliance
The crypto industry continues to face stricter regulations, and Canada is one of the most heavily regulated countries. Crypto is still very much legal and exchanges are working with the local governments to become compliant.
During our review process, we looked for crypto exchanges that are vocal about their compliance efforts and are registered with the necessary Canadian Securities Administrators.
User Experience & Interface
A user-friendly platform is important when choosing a cryptocurrency exchange, particularly if you’re a beginner. We tested each platform for ease of use and intuitive navigation.
For experienced crypto traders, we highlighted exchanges with advanced trading tools and charts, and an interface that enables more complex trades.
For our readers who want to trade on the go or prefer using a mobile app, we made sure one was available from these exchanges and worked seamlessly.
What types of exchanges are there in Canada?
The two main types of crypto exchanges are centralized crypto exchanges and decentralized exchanges.
Centralized exchanges
Centralized exchanges are the most common types of platforms used to buy and sell crypto, using an intermediary to facilitate transactions.
A centralized crypto exchange is better suited for newer Canadian investors and those who value high liquidity and more reliability. The top platforms we’ve included on this list are centralized exchanges, but there are valid reasons to use decentralized exchanges too.
Decentralized exchanges
Decentralized crypto exchanges are better for those adept with blockchain technology, or crypto enthusiasts, as they give you full control and responsibility over your funds. There’s no intermediary involved and you trade directly with other users through peer-to-peer (P2P) transactions using a Web3 wallet like Metamask.
Decentralized exchanges are far less popular in Canada given the local regulations, but there are still options available. We discuss the best-decentralized crypto exchanges below.
Is Coinbase allowed in Canada?
Yes, Coinbase is fully legal and regulated throughout Canada. It’s one of the most trusted crypto exchanges in Canada for its global reputation and security measures.
What are the best-decentralized exchanges in Canada?
1inch Network: Free-to-use decentralized exchange that aggregates liquidity from the 10 top blockchains.
Biswap: Decentralized exchange with competitive 0.1% trading fees, that uses the Binance Smart Chain network.
Phantom: This exchange uses the Solana blockchain to allow P2P trading, staking, and storage. It works directly through your web browser and has no membership fee.
Are Crypto Exchanges legal in Canada (Ontario)?
Yes, many crypto exchanges are legal in Canada, including Ontario. Crypto exchanges in Canada, particularly in Ontario, need to undergo intense scrutiny and security requirements.
Some of the major crypto exchanges like Binance have been banned from Canada, and Kraken Canada is banned in Ontario.
With that said, global exchanges like Coinbase, KuCoin, and Crypto.com are available, as well as Canada-based platforms like NDAX.
Will the Crypto Exchange I’m using shut down?
In light of the FTX collapse, crypto traders and the crypto-curious are left wondering if something like this will happen with the exchanges safeguarding their digital assets.
While alarming, an event like this is unlikely to happen again, as most cryptocurrency exchanges are genuine in their mission and taking steps to ensure the security of your crypto assets.
Cryptocurrency exchanges have stepped up their compliance, security, and asset insurance efforts and continue to become more reliable. Make sure the cryptocurrency exchange you choose is regulated and compliant in your region and makes its security practices public.
What is the best P2P Crypto Exchange in Canada?
While you may understandably be looking for an exchange that offers P2P transactions, you need to be aware of the implications in Canada.
There are no regulated P2P exchanges in Canada given the local restrictions, which has made accessing them more difficult at the outset, particularly if you live in Ontario.
This leaves you exposed to more risk if you choose to keep your funds on these exchanges or facilitate trades here versus a regulated exchange like Crypto.com.
P2P exchanges do exist including Hodlhodl and Shakepay, and you may have access to more of these platforms if you created an account prior to certain laws or regulatory changes.
You can also use a decentralized exchange like Phantom to access P2P transactions, but the same risks around lack of compliance and regulation apply.
What is the safest Crypto Wallet in Canada?
Many cryptocurrency exchanges on this list also double as crypto wallets. NDAX, Coinbase, and Kraken are some of the most secure options, but these are all hot wallets that are more susceptible to theft.
If you’re serious about keeping your crypto safe, you need to get a cold wallet, which is a physical device that stores your assets fully offline.
Also known as hardware wallets, they can be connected through USB or Bluetooth. It’s a best practice to keep the bulk of your crypto here unless you’re actively trading with it.
While it’s difficult to pinpoint which crypto exchanges have the most active users, some of the best crypto exchanges available in Canada are Coinbase, Coinsquare, and Crypto.com.
If you’re located outside of Ontario, KuCoin is the best crypto exchange for day trading with its advanced features.
If you’re in Ontario, Crypto.com is the best crypto exchange for day trading with its low fees and selection of trade types.
We carefully vetted our whole list of the best crypto exchanges, but NDAX is particularly well known for its rigorous compliance and security measures.
The best crypto wallet to use overall is a cold wallet, for superior security. As far as hot wallets, choose reputable platforms with strong security measures like Coinbase, NDAX, and Bitbuy. Most of the best crypto exchanges also provide a hot wallet.
