Best Canadian Crypto Exchanges

Planning to invest in crypto from Canada? Numerous crypto exchanges are offering their service in Canada. Finding the most suitable option for you is a tough task. It requires thorough research.

Here we are covering the best Canadian Crypto Exchanges to make your job easier. The article also provides brief overviews of the top five. 

List of Best Canadian Crypto Exchanges

1. Bitbuy
2. VirgoCX
3. Coinsquare
4. NDAX
5. Kraken
6. Bitcoin Well
7. Newton
8. Paytrie
9. Crypto.com
10. Wealthsimple

Top 5 Canadian Crypto Exchanges

1. Bitbuy

Another popular exchange with more than 900,000 Canadian users. The exchange supports more than 60 cryptocurrencies, including BTC and ETH. The exchange is based in Toronto. It is under the jurisdiction of the Canadian Investment Regulatory Organization ( CIRO) and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). 

You can access the exchange via mobile app as well. It charges no deposit fee, and has a trading fee of 0.5%. Bitbuy provides regulated staking. They also offer 24/7 customer support via email and chat.

2. VirgoCX

The VirgoCX is another popular choice amongst crypto enthusiasts. This Canada-based exchange is under the jurisdiction of the Canadian Securities Administrators (CSA). On top of it, it is registered with FINTRAC. 

It supports over 90 cryptocurrencies. The exchange is popular for its high security. The security measures include 2-factor authentication, AML, and the non-custodial nature of funds. The cryptoexchange requires KYC documentation. Supports both the Canadian Dollar and the US Dollar.

The trading fee charged ranges from 0.95% to 1.6% of the transactions. No separate deposit fee is needed. The exchange offers OTC transactions.

3. Coinsquare

Another popular crypto exchange based in Canada. Coinsquare supports more than 60 cryptocurrencies. The exchange is regulated by the CIRO (Canadian Investment Regulatory Organization). 

It’s accessible through mobile and offers free withdrawals in CAD. The trading fee may vary depending on the type of transactions. The platform has a user-friendly interface. It’s popular among both beginners and seasoned crypto traders. 

4. NDAX

It’s a Canada-based crypto exchange that is registered with FINTRAC. With an advanced user interface, NDAX is more popular among experienced users. The exchange supports over 45 cryptocurrencies.

It has lower fees; the exchange charges only 0.2%. The deposit fee is free. But a withdrawal fee is charged. CAD is the fiat currency supported by NDAX. It offers OTC trading and is accessible through mobile.

As security measures, it has two-factor authentication and cold storage. The customer support is provided via 

5. Kraken 

Even though it is not strictly based in Canada, the Kraken has a significant presence in the country. Founded as early as 2011, the crypto exchange is very popular among beginner and seasoned crypto users.

The Kraken supports more than 350 cryptocurrencies. It’s renowned for its security architecture. The security features in Kraken include cold storage, SSL encryption, two-factor authentication, and more.

Plus, they offer 24/7 customer support. The exchange has CAD (Canadian Dollar) withdrawals. It’s done through ETF at a rate of 0.35% with a minimum of 50 CAD. A fee of 10 CAD is incurred for transactions of a minimum of 15 CAD made via e-Transfer. 

The platform offers numerous trading options, including futures and margin trading. The exchange had not faced any major hacking attacks since its inception. Users need to upload their KYC details to carry out transactions on the platform. 

Final Thoughts on the Best Canadian Crypto Exchange

We have provided a comprehensive list and detailed overview of the top Canadian crypto exchanges. Ultimately, you have to pick the one based on your individual circumstances. 

But certain factors can not be ignored, including regulatory compliance, Canadian registration, fee structure, supported cryptocurrencies, liquidity, and customer support. Therefore, conduct detailed research before choosing a crypto exchange.

For related updates on regulatory changes and crypto market trends, check out Coinbase Relaunches Stablecoin Bootstrap Fund and SEC Approves Grayscale GDLC ETF. Also, for fintech crypto news, see Revolut Will Add Ripple (XRP).