This feature allows easy and convenient deposit of funds from any Canadian online bank account, addressing a major hurdle for Canadian crypto traders. The trading fees remain competitive with a buy/sell spread that keeps costs low for users. These improvements further enhance Bitbuy’s position as a reliable, feature-rich cryptocurrency exchange for Canadian users. It was voted as the most important factor for Canadian users when selecting crypto exchange. Bitbuy is a Canadian-based cryptocurrency exchange, caters primarily to Canadian users, allowing deposits in Canadian dollars via Interac e-Transfer and wire transfer.
I ensure most crypto exchanges I recommend is registered with FINTRAC and follows Canadian regulations (the ones that do not are marked properly). As mentioned before, we tested over 60 crypto exchanges to compile the list of the best cryptocurrency exchanges for Canadians. Shakepay is a Montreal-based trustworthy exchange that offers free and fast deposits and withdrawals and is considered one of the best Canadian crypto exchanges for beginners. In this article, which I hesitate to call a rating, I’ll discuss 8 best crypto exchanges that stand out for specific needs for Canadian users after testing 61 different crypto exchanges. Bitbuy is often considered the most reliable among reputable Canadian crypto exchanges, thanks to its strong security track record and regulatory compliance. Launched in 2011, Kraken is one of the best global crypto exchanges trusted by 9M+ users in Canada and 190+ other countries.
What are the features of VirgoCX?
It is simple to deposit and withdraw CAD with a VirgoCX account. There is a lack of other features except crypto gift cards and institutional OTC purchasing. VirgoCX is registered with FINTRAC and cryptocurrency broker canada the CSA, plus is PIPEDA compliant. Newcomers to crypto can easily take advantage of the advanced technology and top-tier liquidity from a transparent and fully regulated provider.
Best crypto app based in Canada: Wealthsimple
All the cryptocurrency exchanges listed in this post can offer services legally in Canada. That said, no crypto exchange is 100% safe, and you should consider holding your assets in self-custody. Bitbuy is Canada’s best crypto exchange for day trading crypto, with its live order book and trading tools.
Quick look: The 8 best cryptocurrency exchanges
- It has built a strong reputation based on its reliability and strong security (never hacked).
- Millions of people in Canada choose Kraken to trade and buy their crypto, and the platform continues to show its commitment to serving the market.
- Check out more about this crypto trading platform in our Bitget review.
- Canadian users can use the quick buy and sell feature to trade crypto or access the advanced trade function for order book trading.
- NDAX, which stands for National Digital Asset Exchange, launched in 2018 has become Canada’s most advanced crypto exchange with a comprehensive offering.
Kraken is one of the most well-known names in the crypto exchange industry. This removal of deposit fees is paired with attractive spot trading fees between 0.1% and 0.2% making it cheaper to use than other global competitors. Using the trading portal, you can trade USDT, BTC, ETH, and USDC while also accessing 15+ other cryptos. Bitbuy is a leading Canada-based crypto exchange, specifically designed for Canadian investors.
This consolidation has positioned Bitbuy as the top crypto exchange in Canada, demonstrating its commitment to serving Canadian users and aiming to dominate the local market. Decentralized exchanges are typically not beginner-friendly, don’t offer customer support, and don’t allow users to buy cryptocurrencies with fiat currency. Some critics claim that centralized exchanges (such as those listed above) are not aligned with the transparent and decentralized ethos of cryptocurrency. Canada also approved its first blockchain exchange-traded fund (ETF) showcasing its interest in making crypto assets mainstream.
Indeed, NDAX offers free deposits, fixed withdrawal fees, and a fixed 0.2% buy/sell fee, simplifying the calculation of trading costs. We even included NDAX as one of the best Canadian exchanges to cash out crypto in Canada. I use NDAX for cashing out crypto to my Canadian bank account because of their low fees and excellent, fast service. This means you don’t have to pay the extra fees that other exchanges charge. Bitbuy is registered with FINTRAC, a Canadian financial regulator, and ensures the safety of assets by keeping 95% of coins in cold storage. The platform continues to focus on security, with 90% of assets stored in cold storage.
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. It is not a recommendation to trade or use any services. As with any search engine, we ask that you not input personal or account information.
What Forms of Crypto Trading Are Legal in Canada?
Security continues to be a top priority for NDAX, which secures its assets in cold storage using Ledger Vault, significantly minimizing online threats and enhancing investment safety. The platform also facilitates quick and easy Interac deposits, enhancing user convenience. For instance, a $100 Interac deposit incurs no fees, ensuring full value transfers. Additionally, NDAX has expanded its BTC withdrawal methods to include three more options, one of which is free, further reducing the cost for users.
After careful vetting, I summarize my top picks for the best crypto exchanges in Canada, including Bitbuy, Wealthsimple Crypto, NDAX, VirgoCX, Newton, and Netcoins. For professional traders, cryptocurrency trading results in business income and is thus taxed at a rate of 100%. Individuals in Canada are permitted to trade cryptocurrencies in several ways, primarily through spot trading on registered crypto asset trading platforms regulated by provincial authorities under CSA oversight. As of 2025, all registered crypto platforms in Canada must comply with the no-margin trading rule for retail users, regardless of province. As is the case with other types of trading, the trading of cryptocurrencies is taxed, and on its website, the Canadian government offers comprehensive information regarding how crypto traders should file their taxes.
I hope this breakdown gave you a solid understanding of Canada’s crypto exchange landscape and what options are available to you. Advanced traders might appreciate complex interfaces with detailed charts and order books, but beginners need intuitive, straightforward platforms. However, if you’re interested in altcoins (e.g. Kaspa or Fartcoin) or day trading opportunities, you’ll need a platform with diverse offerings. This matters most for frequent traders and those working with smaller amounts where fees represent a larger percentage of their investment. Based on my research and survey data from Canadian crypto traders, I’ve identified the key factors that should guide your decision.
Coinbase
If you’re looking for the best crypto exchange Canada has to offer, you’ve come to the right place. Overall best crypto exchange in Canada + $50 bonus Yes, Bitbuy is a legal crypto exchange in Canada.
What are the trading fees on Kraken?
Bitbuy is registered with the Ontario Securities Commission (OSC), Canadian Securities Administrators, and FINTRAC, confirming legal operation in Canada. This makes it easy for locals to access and use CAD trading pairs. Customers also regularly praise the 24-hour customer support on offer, along with the user-friendly design of the platform. It has built a strong reputation based on its reliability and strong security (never hacked).
- Bull Bitcoin follows all the Canadian rules because it’s registered with FINTRAC, a government agency.
- NDAX’s platform boasts over 30 different cryptocurrencies and maintains its 0.2% fixed buy/sell fee, which simplifies calculating trading costs.
- Advanced traders might appreciate complex interfaces with detailed charts and order books, but beginners need intuitive, straightforward platforms.
- Our team has extensively reviewed dozens of cryptocurrency exchanges and apps to find the best crypto app in Canada.
- The author may own one or more of the crypto assets mentioned in this article.
- It offers free fiat deposits, and crypto trading fees range from 0.00% to 2%.
How To Trade Cryptocurrency in Canada
NDAX supports 30+ coins, including Bitcoin, Ether, Litecoin, EOS, Dogecoin, Cardano, Shiba Inu, The Graph, Compound, MATIC, USDC, Polkadot, and several others. Crypto.com was founded in 2016 and has over 10 million users worldwide. A percentage fee of 1.49% applies for orders above $200, and 3.99% for credit/debit card crypto purchases. Accounts in CoinSmart have assets protected using cold storage and 2-Factor Authentication (2FA).
Cryptocurrency exchanges can operate legally in Canada, and you can trade crypto without breaking the law. These new funds or coins you have deposited are what you use to purchase the cryptocurrency assets of your choice. You will need to first open a cryptocurrency exchange account. The world’s largest cryptocurrency trading platform is no longer available in Canada.
Best automated crypto trading platform: VirgoCX
Bitbuy, has expanded its offerings by introducing a cutting-edge crypto staking option and an OTC desk. Customer support is available through email, ensuring assistance for users’ queries and issues. This demonstrates a strong emphasis on protecting investors’ assets and maintaining transparency in its operations. Highlighting its commitment to security, a Proof of Reserves Audit conducted in July 2021 showed that Bitbuy exceeded its cold storage policy, averaging 98.12% in cold storage.
Bull Bitcoin – Ranked #1 for Bitcoin-Only Trading in Canada
I test each exchange’s interface to ensure it doesn’t overwhelm new users while still providing necessary functionality. If something goes wrong – like the FTX bankruptcy – your funds won’t have the same protections as regulated exchanges. If you’re sticking to Bitcoin and Ethereum, most exchanges will serve you well. I also verify they have robust security measures like two-factor authentication, wallet whitelisting, and email notifications for account activity.