Are you looking to get started investing in cryptocurrencies? Choosing the best crypto exchange in Canada is key to both understanding and finding success with your crypto investments. In this article, I’m going to review the 23 best crypto exchanges in Canada for 2023.
Contrary to popular belief, the Canadian crypto market is full of excellent choices when it comes to trading exchanges. Whether you are trading blue-chip tokens like Bitcoin or Ethereum or wanting to hit a home run with an altcoin like Shiba Inu Coin, these crypto exchanges have you covered.
Before signing up with a new crypto exchange, you’ll want to ask the important questions:
- Is the crypto exchange secure? Has it ever been hacked?
- What methods can I use to deposit funds into my account?
- Which crypto tokens does this exchange offer?
- Should I use a cold storage wallet for my crypto investments?
I know how overwhelming the crypto industry can be, especially for new investors. I’ll cover everything you need to know about these exchanges including their key features, cost breakdowns, and the pros and cons of each specific site.
What are we waiting for? Let’s get to it!
What is the Best Crypto Exchange in Canada?
- Wealthsimple Crypto
- Crypto.com Canada
- Binance Canada
One of the newer crypto exchanges in Canada, Wealthsimple Crypto falls under the umbrella of the financial platform, Wealthsimple. The Wealthsimple investing exchanges are popular amongst younger investors due to their zero-commission trading fees. I am happy to report that Wealthsimple Crypto is no different.
The Wealthsimple brand is owned by the Power Corporation of Canada, so it is backed by some serious capital. Wealthsimple Crypto offers traders access to nearly 60 of the largest crypto projects on the market including BTC, ETH, SOL, AVAX, and SHIB.
One cool feature of Wealthsimple? You can see all of your investments in one dashboard. All of your stocks, ETFs, and cryptos are available in one easy-to-use app. There’s a reason why the Wealthsimple brand is gaining so much popularity in Canada!
- Wealthsimple Crypto supports the trading of 57 different cryptocurrencies.
- Like trading from your phone? Trade your cryptos directly through the Wealthsimple mobile app for both iOS and Android.
- Crypto investments are held by GeminiTrust Company LLC with $200 million in cold storage insurance.
- It uses state-of-the-art data encryption with 2FA protection for the app and the desktop site.
- Trade with market or limit orders, for as little as $1.00 per trade!
One of the best features of the Wealthsimple investing platform is that there are no trading fees for any stock or crypto trades. There is, however, a 1.5%-2.0% operational fee per trade. The fee is charged by applying a bid-ask spread to your trade. Other than that there are no fees for deposits, withdrawals, opening, or closing your account.
Bitbuy is a Canadian crypto exchange that was established in 2016. The company aims to attract both casual and serious crypto traders. It offers personal account managers for traders that are trading for $20,000 or more with the Bitbuy Private Wealth division.
This platform is geared towards advanced traders, especially those that sign up for the Bitbuy Pro Trade account. It even has automated trading with the Bitbuy API which provides unlimited access to market data.
With over 400,000 Canadian crypto traders and over $5 billion in cryptos traded, Bitbuy is certainly establishing itself as one of the leaders in Canada.
- Bitbuy supports trading for 25 of the largest crypto tokens including BTC, ETH, and SOL.
- You can easily fund your Bitbuy account through Interac eTransfers, credit cards, and bank wire transfers.
- 99% of Bitbuy cryptos are held in cold storage and covered by an insurance policy.
- Trade on Bitbuy through the desktop app or on your phone with the iOS and Android apps.
With Bitbuy, traders can enjoy zero fees on deposits no matter which method they use. There are withdrawal fees of 1.5% for Interact and bank transfers, as well as specific gas fees for crypto transfers. Trading fees rely on the bid-ask spread so they tend to be around 0% to 1.5% per transaction. There are no fees for opening or closing your account with Bitbuy
Coinbase is one of the most well-known crypto exchanges. It is an American company that trades publicly on the NASDAQ exchange under the ticker symbol COIN. With over 98 million verified users across more than 100 countries, Coinbase is a global leader in the crypto trading industry.
Coinbase is one of the simplest exchange interfaces to use and you can do so from your computer or your mobile phone. The site also offers a crypto payment wallet as well as a newly launched NFT Marketplace.
- Coinbase keeps a majority of crypto investments in cold storage. These are insured and cash balances are also insured by FDIC up to $250,000 USD.
- This platform offers traders access to well over 100 different cryptocurrencies to trade.
- Use advanced trading strategies like derivatives and margin trading right on the platform.
- Coinbase offers payment, the Coinbase Wallet, staking, and the NFT Marketplace.
Coinbase does have Taker and Maker fees for each transaction. These range from 0.0% to 0.60% per transaction. There are withdrawal fees for bank wire transfers, although ACH withdrawals and deposits are free. Crypto transfers are subject to any potential gas fees for the network.
Coinsmart is a Canadian crypto exchange that is currently expanding to global markets. The system is designed for beginner crypto traders and is available on both desktop and mobile platforms.
Trade up to 16 of the biggest cryptocurrencies including BTC, ETH, and ADA. Since the crypto markets are a 24/7 industry, Coinsmart is one of the only Canadian exchanges to offer 24/7 live support for its users.
It may look simple, but Coinsmart includes advanced trading options like limit orders and stop loss orders. The site also includes real-time charts and even an OTC market for crypto whales.
- Coinsmart supports 16 of the largest cryptocurrencies on the market in CAD, USD, or Euros.
- Coinsmart offers cold storage security for your crypto investments as well as secure 2FA login authentication.
- Fund your account with Interac eTransfers, SEPA, or bank wire transfers for same-day deposits.
- Its SmartPay technology allows you to accept crypto payments and even invoice customers in cryptocurrencies.
Coinsmart does have some fees you should be aware of. Up to $2,000, there is a 1.5% transaction fee on Interac eTransfers. There are no fees for using bank wire, but using a credit card or debit card could incur up to a 6% fee depending on your card. On top of that, there is a 1.0% withdrawal fee for fiat currencies, and a set schedule of fees for crypto withdrawals depending on the network. Finally, there are also trading fees with Coinsmart which is 0.20% per trade.
VirgoCX is another up-and-coming Canadian crypto exchange. It offers crypto trading for more than 60 of the largest crypto tokens including BTC, ETH, and DOGE, with new crypto listings all the time.
This platform has trading options for both beginners and advanced traders. Looking to make a splash with a trade of $30,000 or more? VirgoCX Wealth has dedicated account managers to help you with personalized service.
- VirgoCX is fully secured with asset insurance of up to $1 million, and it has teamed up with Coinbase Custody to keep your cryptos secure.
- The site is FINTRAC registered and compliant with PIPEDA to keep your personal data safe.
- Enjoy real-time crypto trading from the desktop or your mobile phone for both iOS and Android.
- Fund your account through crypto transfers, Interac eTransfers, or bank wire transfers for same-day deposits!
VirgoCX does not charge any fees for crypto deposits aside from existing network fees. It does charge a small transaction fee for crypto withdrawals that differs for each token. Fiat deposits and withdrawals do not come with any fees, although depending on the method they do have some minimum amounts you need to hit.
Newton is one of the original Canadian crypto trading platforms. It has one of the simplest interfaces in the industry and is used more as a site to buy cryptos, rather than selling or converting them.
With both desktop and mobile apps, you can instantly switch fiat currencies into your crypto account through a number of different methods. Trade with globally competitive prices with zero-commission trading fees. Even better, when withdrawing cryptos, Newton will even cover some of the network gas fees for you!
- Newton does daily offsite backups and holds your cryptos in institutional-grade offline cold storage for your assets.
- Choose from over 70 supported cryptocurrencies to trade including BTC, ETH, SOL, AVAX, and SHIB.
- Newton will cover up to $5.00 in-network fees for crypto transfers to other wallets.
- No commission trading and competitive spreads help you trade cryptos with ease on either desktop, iOS, or Android apps.
- You can connect directly to your Canadian bank or use Interac eTransfers to fund your account.
With the zero-commission fees, Newton adopts a similar system of trading fees that creates a bid-ask spread on each transaction. No fees for deposits or withdrawals and Newton even covers $5.00 in network fees when transferring cryptocurrencies.
Coinsquare is a fully compliant Canadian crypto exchange that offers a robust trading system for both new and experienced crypto traders. The site was founded in 2014 and offers traders more than 820 different trading pairs.
The platform has three different segments for trading: Coinsquare Trade, Coinsquare Pro, and Coinsquare Wealth. Depending on your level of crypto trading, there is a solution for every investor. With over 100 employees and over 500,000 Canadian traders, Coinsquare is positioning itself to be an industry leader for years to come.
- Coinsquare offers more than 40 different coins supported for trading and over 820 different trading pairs.
- The site is compliant with all Canadian regulations and holds 99% of crypto assets in institutional-grade off-site storage.
- Coinsquare offers desktop trading as well as mobile trading on both iOS and Android platforms.
- The Coinsquare Pro membership offers in-depth trading activities and real-time charts.
- With 24/7 support, you can request assistance no matter what time of the day you are trading.
Coinsquare has no fees for depositing funds, although it does charge a 1.5% transaction fee for withdrawing to your bank account. Note that there is no withdrawal fee for using Interac. Coinsquare uses a bid-ask spread to create fees for Coinsquare Trade, while it uses Maker and Taker fees for Coinsquare Pro traders. Crypto withdrawals also have fees in addition to the network gas fees. Note that a large number of cryptos are traded only and cannot be withdrawn from the platform.
Crypto.com is definitely one of the most recognized crypto exchanges in the world. From Super Bowl commercials to the naming rights of the home arena for the Los Angeles Lakers, Crypto.com is widely considered a heavyweight in the space.
As can be expected, Crypto.com offers traders the full spectrum of trading options. From margin trading, derivatives, staking, and even payments with its own Visa Debit card, Crypto.com is more of a financial ecosystem than a simple crypto exchange. Just how big is Crypto.com? It currently has over 50 million users across 90 different countries.
- From simple trading to DeFi staking to NFTs, Crypto.com has something for every trader.
- 100% of the crypto assets on Crypto.com are kept in offline, cold storage. These assets are covered by insurance of up to $750 million.
- Crypto.com offers 24/7 live customer support in multiple different languages.
- Stake the CRO Token to earn higher rewards and qualify for Crypto.com’s Visa Debit card system.
- Trade from anywhere on the Crypto.com desktop app or on the iOS or Android mobile apps.
Crypto.com offers a maker/taker fee schedule that is determined by your 30-day trading volume and how much CRO you have staked. Withdrawal fees for crypto tokens will vary depending on the network, and there is no charge for crypto or fiat deposits. There are also no fees for opening or closing your account with Crypto.com. Fees are lowered if you have the requisite number of CRO tokens staked.
Binance is the world’s largest crypto exchange by daily trading volume and is available in more than 140 countries around the world. The exchange does over $2 billion in average daily transactions, with over 1.4 million transactions made per second.
While Binance is an international company, the founder Changpeng Zhao or CZ as he is known has his roots in Canada. At a young age, he moved to Vancouver, BC and then attended university at McGill University in Montreal, Quebec. With a net worth of nearly $100 billion, CZ is one of the most influential people in the crypto world.
Binance is the leader in cryptocurrencies, supporting over 600 different tokens, many of which trade on their own blockchain network the Binance Smart Chain. The BSC is powered by the native token of Binance called BNB Coin, which has a market cap of over $45 billion.
- Binance has a full spectrum of trading options for Canadian crypto traders. From NFTs to liquidity pools, to leveraged futures trading, to derivatives, Binance has everything you need in one platform.
- Binance focuses on security. It keeps a majority of crypto assets in offline cold storage with advanced data encryption and real-time site monitoring.
- The platform offers 24/7 customer support in over 40 different languages.
- It offers lower transaction fees if you hold and stake BNB coins.
- Binance even offers the Binance Academy and Learn and Earn options to educate new crypto traders on the industry.
As with most major crypto exchanges, Binance charges maker and taker fees for any crypto pairing. It also has a discounted fee rate if you have BNB staked. There are also no fees for staking with Binance’s stablecoin, BUSD. There are, however, different schedules of fees based on your trading volume and account size. Binance also does not charge for deposits and withdrawals, nor for opening or closing an account.
Netcoins is a Canadian crypto exchange that is targeting the new crypto trader. It has a very simple and intuitive platform design and supports the trading of 36 of the largest cryptocurrencies. Canadian crypto traders can trade major tokens like BTC, ETH, ADA, and LTC.
Netcoin is a simple buy-and-hold crypto exchange that does not offer advanced strategies like staking or NFTs. It accepts a number of different deposit and withdrawal methods, with same-day deposits. The company itself is owned by BIGG Digital Assets (CSE: BIGG) which is a publicly traded stock on the OTC and CSE markets.
- Netcoins supports the trading of 36 different cryptocurrencies directly from your account.
- Fund your Netcoins account directly with a crypto transfer, Interac eTransfer or bank wire.
- More advanced traders can use limit orders to control their crypto trading.
- Trade right on the Netcoins site or download the iOS or Android app for your mobile phone.
Netcoins boasts zero funding fees for its users, which means you don’t pay a center for depositing new funds to your account. The site charges a flat transaction fee of 0.5% per trade, no matter which crypto you buy. There are no withdrawal fees for fiat currencies and for cryptos, it depends on the network gas fees imposed.
Coinberry is a Canadian crypto platform that was established in 2017 and already has more than 220,000 customers. The company was recently acquired by the publicly traded company WonderFi Technologies Inc (TSE: WNDR) which is backed by noted Canadian investor Kevin O’Leary and also owns Bitbuy.
The platform definitely targets newer crypto traders and its goal is to provide access to blockchain investing for everyone. Coinberry supports trading for over 35 different cryptocurrencies including BTC, ETH, DOT, and ADA. With a simple trading interface and apps for desktop, iOS, and Android, Coinberry is a registered Canadian brokerage that is establishing itself as a strong retail brand in the rapidly growing landscape.
- Supports the trading of over 35 different cryptocurrencies on desktop, iOS, and Android platforms.
- Coinberry Pay allows merchants and consumers to receive and make payments with cryptocurrencies.
- Coinberry is fully insured and registered with the OSC and FINTRAC.
- The site prides itself on having no fees for deposits and withdrawals.
As mentioned, Coinberry implements zero fees for depositing or withdrawing from the site. Instead, the company makes money on the bid-ask spread of between 0% and 2.5% for transactions. Crypto transfers will only have their specific network gas fees for you to pay, if applicable.
The Satstreet Trading Desk is a Toronto-based Bitcoin trading service that was launched in 2020. While other exchanges target new retail traders, Satstreet focuses on high-volume Bitcoin traders and crypto whales. Open an account with Satstreet to trade between $25,000 and $10 million. It is considered a white-gloved service where each client gets their own dedicated support representative.
Satstreet requires your application for an account to be approved before you can begin trading Bitcoin. All trading takes place on the desktop platform although you can download a portfolio app for iOS and Android to monitor your account. In an industry that is trying to get as many people into crypto trading as possible, Satstreet is focusing on high-end clients with five and six-figure accounts.
- Satstreet only offers the ability to trade in Bitcoin as of now.
- Being approved for an account gets you your own personal support rep.
- You can choose to store your Bitcoin in cold storage hardware or Coinbase Custody, or your own preferred secure storage setup.
- The site offers 24/7 support by phone or email for its customers.
Satstreet excels when it comes to fees, especially compared to other VIP services in the industry. There is a 1% trading fee that it adds onto transactions, which is relatively low amongst crypto exchanges. There are no extra charges for your support rep or for storing your Bitcoin offline in cold storage. Overall, it is a cheap and effective way to professionally handle your Bitcoin investment.
Shakepay is a Montreal-based crypto platform that was launched in 2015. The platform already has more than 1 million Canadians served and over $7 billion in total crypto transactions. It received its name because Shakepay offers a bonus for users that refer new users to the site. Every day you can shake your phone to receive a reward in Bitcoin satoshis.
Shakepay has other features including a Visa Debit card where you can earn 1% back in Bitcoin from your shopping. One thing to note is that Shakepay only supports trading for Bitcoin and Ethereum. If you are looking for other altcoins or stablecoins you won’t find any on Shakepay. You can even send Bitcoin or Ethereum to a friend that uses Shakepay using their @shaketag which is their personal identifier on the site.
- The Shakepay platform only supports the trading of Bitcoin and Ethereum.
- A daily shake bonus allows you to accumulate increasing amounts of Bitcoin satoshis each day.
- You can use your Shakepay Visa Debit card to earn Bitcoin back on your purchases.
- Shakepay allows you to fund your account via Interac eTransfer, bank wires, or direct crypto transfers.
- A majority of crypto assets are held in offline cold storage that is fully insured.
Shakepay offers commission-free trading from desktop and mobile platforms. There are also no fees for depositing or withdrawing cryptos or fiat from your account. In addition, there are no fees for opening or closing an account either. Instead, Shakepay charges a difference between the buy and sell prices of your trades. This spread is used as revenue to fund the site and make enhancements and improvements.
Bitvo is an Alberta-based cryptocurrency trading exchange that has both an institutional and retail side to its platform.
The platform currently offers 11 different cryptocurrencies to trade including BTC, ETH, ADA, and DOGE. Bitvo offers a wide range of products and services for its customers including the Bitvo Cash Card which is a Visa Debit Card that is linked directly to your Bitvo account.
- Bitvo offers trading support for eleven different cryptocurrencies including BTC, ETH, and LTC.
- The platform has zero-commission trading as Bitvo profits off of the bid-ask spread.
- It holds up to 95% of its crypto assets in offline cold storage with Bitgo Trust Company. These assets are insured for up to $100 million.
- There are no deposit fees for Bitvo but there is a 1.0% withdrawal fee no matter how you choose to withdraw fiat currency. Crypto transfers are subject to network gas fees as well.
- The Bitvo Cash Card is a prepaid Visa Debit card that allows you to make purchases with your crypto assets.
As mentioned, Bitvo has no trading fees as the platform makes revenue on the bid-ask spread for each transaction. There are also no fees for depositing with Interac, bank wire, or cryptocurrencies. Withdrawals are charged a 1.0% transaction fee with a minimum charge of $15.00 plus any applicable gas fees for crypto networks. Activation of the Bitvo Cash Card is free but there is a $1.00 fee for purchases, ATM withdrawals, transactions, and a 3.0% charge for foreign currency.
Kraken is one of the largest crypto exchanges in the world. It is based out of San Francisco, California and was established back in 2011. While it is an American company, Kraken supports over 9 million customers from over 190 different countries. Like other major exchanges including Coinbase and Binance, Kraken provides a full suite of investment products including NFTs, crypto futures, and crypto staking.
Kraken also has an advanced trader tier under its Kraken Pro brand, as well as trading with up to 5x leverage with Kraken’s margin trading. If you’re a serious crypto trader or a beginner, Kraken has everything you need to support you on your crypto journey.
The platform supports trading of over 110 different cryptocurrencies including BTC, ETH, MATIC, and ADA. Enjoy an intuitive and smooth crypto trading platform on your desktop or on the iOS or Android operating systems for mobile phones.
- Supports trading for over 110 different cryptocurrencies including BTC, ETH, DOGE, and SOL.
- 95% of all crypto assets are held in offline, geographically distributed cold storage.
- Customer support for Kraken is available 24/7/365 to help with any crypto inquiries you might have.
- Kraken offers the most funding options in the industry. You can add Canadian dollars via a wire transfer, in-person, or Etana custody.
- Kraken provides one of the best crypto education courses that is free for members to use.
On a regular buy order, Kraken charges transaction fees of 1.5% per trade. There is also a 0.9% fee for purchasing stablecoins like USDT or USDC. Kraken Pro accounts use a Maker and Taker system for establishing fees per transaction. There are also additional fees for trading in the margin, futures, NFTs, and FX pairs with stablecoins and other pegged tokens. These fees do not include the network gas fees you might incur when trading cryptos.
NDAX is a Canadian crypto platform that is based in Calgary, Alberta and offers an intuitive trading system for both experienced and novice traders. It prides itself on having some of the lowest fees and most crypto trading options amongst the strictly Canadian crypto sites. As of now, it supports more than 30 different cryptocurrencies to trade including BTC, ETH, SOL, and XRP.
Experienced traders will enjoy advanced trading options like futures trading and crypto staking. NDAX holds $5 billion worth of crypto assets in offline cold storage, while also providing multi-factor authentication for users. Crypto staking is another popular way to earn a yield on your cryptos. With NDAX you can earn up to 12% on crypto tokens like DOT, ADA, GRT, MATIC, and ETH.
- An easy-to-use platform that is available on desktops as well as for iOS and Android smartphones.
- Earn crypto rewards by staking your DOT, ADA, GRT, MATIC, and ETH on NDAX Staking.
- High-level security that sees most of the crypto assets in offline cold storage.
- NDAX Wealth is an OTC trading market for crypto whales that have large-sized trades.
- NDAX has an extensive crypto training and education series so you can learn as you trade.
NDAX has a buying and selling fee of 0.20% per transaction. This means no matter what kind of trade you execute, there is a small transaction fee. There are no fees for depositing your funds via Interac, wire transfer, bank draft, or crypto transfer. But there are withdrawal fees for bank direct and wire transfers, as well as small transaction fees for cryptos. These fees do not include the network gas fees that might be included.
Gemini is widely known in the crypto community as the exchange that was founded by Tyler and Cameron Winklevoss. As of now, Gemini only operates in a handful of countries including the US, Canada, the United Kingdom, and Singapore. Gemini supports the trading of more than 120 different cryptocurrencies including BTC, ETH, SOL, and ADA.
Similar to global platforms like Binance or Coinbase, Gemini offers a full suite of financial tools for crypto investors. It appeals to both new and advanced crypto traders, and even offers high APY returns with its Gemini Earn program. Gemini offers a crypto credit card, the Gemini crypto wallet, and the Nifty NFT marketplace.
- Gemini supports over 120 different cryptocurrencies for trading.
- The platform stores its crypto assets at high-security data centers using the Gemini Custody program which is used by many other exchanges.
- Gemini Earn allows you to earn rewards on your crypto of up to 8.5% APY. Gemini Earn is only available in the US, Hong Kong, and Singapore.
- Gemini even has its own US Dollar stable coin called GUSD. This native token can be used to earn interest through staking and other DeFi applications.
- It takes security seriously with its Gemini Custody security system. It requires multi-sig authentication and the founders themselves cannot directly transfer crypto from Gemini’s vaults.
Gemini has a notoriously complex pricing system for its fees. There are different fees for each type of deposit or withdrawal method, and even for things like staking and if you trade with the mobile app versus the desktop app. I recommend checking out the entire fee schedule here before signing up with Gemini.
KuCoin is another well-known crypto exchange that has developed a massive global following. It was founded in 2017 and is headquartered out of Seychelles, a little-known East African coastal country. According to KuCoin’s website, 1 in every 4 crypto traders in the world has an account with KuCoin. It has over 20 million users across 200 different countries, making it one of the most widely used exchanges in the world.
The platform supports more than 700 different cryptocurrencies, putting it on par with only Binance in the number of coins it offers. The platform itself actually resembles the Binance site very closely. You’ll notice a lot of the same features like KuCoin Earn, derivatives trading, NFTs, and the KuCoin crypto wallet.
- KuCoin supports trading for over 700 different cryptocurrencies, making it the top altcoin exchange in the world.
- It offers several different crypto products including KuCoin Earn, futures and derivatives trading, NFTs, and even enterprise support for developers.
- The site has 24/7/365 customer support through various different channels including live chat and social media.
- KuCoin even has its own native token that trades under the ticker KCS.
KuCoin follows a tiered maker/taker fee system depending on how much crypto you are trading. The lower the amount you are trading, the higher the fees. There are no deposit fees with limited methods in which you can add fiat funds to your account. Note that there are withdrawal fees depending on the method. Crypto network gas fees also apply on top of any withdrawal fees from KuCoin.
19. Mogo Crypto
Mogo is an interesting entry into the Canadian crypto market. It is a site that only allows you to buy Bitcoin by depositing fiat currencies. Mogo advertises itself as the greenest way to buy Bitcoin, as the company offsets the energy used to mine Bitcoin by planting trees to suck up carbon emissions.
In addition to Bitcoin trading, the Vancouver-based Mogo Crypto offers financial tools like fiat money loans, mortgages, and investing. With over 1.6 million Canadian users, Mogo is quickly making a name for itself in the Canadian fintech industry.
- Mogo only allows traders to buy and sell Bitcoin through its platform. The crypto exchange that it uses is Coinsquare.
- Mogo is a publicly traded company on both the TSX and the NASDAQ exchanges.
- 95% of the Bitcoin assets are held offline in secure cold storage.
- For all Bitcoin that is traded on the platform, Mogo is dedicated to planting trees to offset the carbon footprint of Bitcoin mining.
Fees are fairly simple with Mogo: there is a 1.0% transaction fee for both buying and selling Bitcoin. There are no fees for deposits, and there actually isn’t any way to withdraw Bitcoin to another crypto wallet. So you’ll first have to convert your Bitcoin back to fiat currency and withdraw that, which still has no fees.
Bitfinex is one of the oldest crypto platforms in the world as it was established back in 2012. It offers a full suite of crypto trading and supports over 170 different cryptocurrencies for trading. The platform is based out of the British Virgin Islands and is actually banned from operating in the United States.
Bitfinex offers all of the best trading features in an easy-to-use platform. Choose from simple market trading to futures or margin trading, and even margin funding where you learn interest on loaned-out crypto assets. Only 0.5% of Bitfinex’s crypto assets are stored in hot wallets, with the rest in secure, multi-sig cold storage. It is considered one of the top ten crypto exchanges in the world by trading volume.
- Bitfinex supports over 170 different cryptocurrencies for trading including BTC, ETH, SOL, and SHIB.
- It offers industry-leading security with more than 99% of its crypto assets stored in offline, cold storage.
- Choose from spot trading, derivatives, margin trading, and margin funding.
- Bitfinex also offers staking which allows users to earn up to 10% APY on their crypto assets.
Bitfinex has several different tiers of maker/taker fees depending on your crypto trading volume. Deposits are free aside from bank wires which have a 0.10% transaction fee. Withdrawals depend on the method or crypto asset and are also subject to network fees. Here is a breakdown of the entire Bitfinex fee schedule.
Uphold is a global crypto exchange that is based in New York and mostly has operations in the US, Canada, and Europe. It is a multi-asset financial platform that offers cryptos, equities, and precious metals trading. With over 10 million users across 184 different countries, Uphold is a fintech platform that is looking to disrupt the traditional finance industry.
Uphold supports trading for over 130 different cryptocurrencies including BTC, ETH, ADA, and XRP. It also offers users the ability to buy over 50 US-domiciled stocks, and a handful of precious metals. With a completely digital platform available for desktop, iOS, and Android, Uphold is a tech-savvy investor’s dream come true.
- Uphold supports trading for over 130 different cryptocurrencies and over 50+ US-listed equities.
- Uphold offers crypto staking where users can earn APY rewards of up to 19.5% on their crypto assets.
- The platform has a debit card that users can spend money directly from their investment accounts.
- Security is monitored 24/7/365 and is regularly tested with penetration tests and system audits.
Each type of asset has a specific fee schedule on Uphold. Cryptos have a bid-ask spread which the platform can make revenues from. Usually for cryptos this lands between 0.8% and 1.2%. For precious metals, it is 3.0% on top of the bid-ask price and for equities, it is 1.0% on top of the bid-ask price.
Bitget is a Singapore-based crypto derivatives exchange which was founded in 2018. This is an easy platform to sign up for and you can begin trading from a desktop, iOS, or Android device. It offers spot trading, futures trading, and Bitget’s innovative One-Click Copy trading. With well over 2 million users worldwide, Bitget is one of the largest crypto trading platforms in the world.
The allure of derivative crypto trading is participating in leveraged trading. This means you can multiply your gains (or losses) with less upfront capital. Bitget allows users to leverage up to 125X which means you can easily liquidate your account or make massive gains in a single trade.
- With industry-leading security, Bitget uses a combination of cold storage wallets and hot wallets.
- Bitget supports over 250 different cryptocurrencies and even has its own native token called BGB.
- Like with many exchanges, Bitget offers an Earn program where you can earn rewards on your crypto assets.
- The site offers 24/7/365 customer support in multiple different languages.
Bitget provides a 0.1% transaction fee on spot trades but that is reduced to 0.08% on trades that include the BGB token. There aren’t any deposit fees to fund your account but there is a wide range of withdrawal fees depending on the asset. Check here to see the fees on a specific type of asset.
Coinmama is an Ireland-based crypto exchange that was established back in 2013. It is available in over 188 countries and is used by millions of different crypto traders around the world. The site offers 16 different cryptocurrencies to trade including BTC, ETH, DOGE, and Link.
Coinmama is certainly a crypto exchange that is targeting beginner crypto traders. It is an easy-to-learn interface with simple trading instructions. It supports a number of different funding methods including debit cards, credit cards, bank transfers, and even Apple Pay and Google Pay. With offside cold storage for crypto assets, a crypto academy where users can learn the basics of the industry, Coinmama is helping get more new traders into the crypto space.
- Coinmama supports up to 16 different cryptocurrencies for trading on its platform.
- High security means that no assets are held on the exchange and most are held offline in cold storage.
- Accepts plenty of funding methods including debit cards, credit cards, and Google and Apple Pay.
Commission fees are determined by Loyalty Level and range from 0.99% to 3.90% per transaction. Certain deposit methods and withdrawals also have express fees attached to them, as well as any network fees that are applicable.
Conclusion: 23 Best Crypto Exchanges in Canada (2023)
As you can see the Canadian crypto industry has grown significantly in the past few years. With multiple different exchanges based in Canada as well as a long list of global exchanges, Canadian crypto traders have a lot of options to choose from.
Ultimately choosing an exchange with a good selection of cryptocurrencies, low fees, and high security is the best winning combination. This article was not meant to be financial advice, but rather an introduction to the best crypto exchanges available to Canadian traders