Best Crypto Exchange
in Canada 2024

Making Crypto Simple
Liam Kemp — Last Updated on July 13, 2022

Let’s get straight into it, so you’re looking for the best crypto exchange in Canada?

Well, we’ve got you covered! We’ve reviewed over 100 exchanges over the past few years, analysing factors like ease of use, fees, supported cryptocurrencies, trading features and support.

On this page you’ll find our top 10 crypto trading platforms for Canadians, as well as individual exchange reviews, a handy comparison table, and a quick guide on how to find the perfect exchange that works for you.

Let’s get started!

Best Canadian Crypto Exchanges

  1. Bitbuy – Best crypto exchange overall
  2. NDAX – Best exchange with an advanced trading platform
  3. Coinberry – Another great local exchange
  4. Newton – Best exchange with zero commissions
  5. Coinbase – Best global exchange for beginners
  6. Binance – Best for day trading
  7. Coinmama – Great for credit card purchases
  8. eToro – Great for derivatives and futures trading
  9. Kraken
  10. Kucoin
Exchange Website Rating Currencies Available Cryptocurrencies Fees Our Review Visit Site
Bitbuy logo 5/5 CAD 17 Cryptocurrencies 0.2% Bitbuy Review Visit Site
4/5 CAD 10+ Cryptocurrencies 0.2% NDAX Review Visit Site
4/5 CAD 5 Cryptocurrencies 0.5% Coinberry Review Visit Site
3.5/5 CAD 8 Cryptocurrencies 0.7% Newton Review Visit Site
3/5 USD 30+ Cryptocurrencies 4% Coinbase Review Visit Site
3/5 42+ Currencies 100+ Cryptocurrencies 0.1% Binance Review Visit Site
2.5/5 USD & EUR 7 Cryptocurrencies 6% Visit Site
2.5/5 EUR, GBP & USD 90+ Cryptocurrencies Daily Fees Visit Site
2.5/5 USD, GBP & EUR 50+ Cryptocurrencies 0.26% Visit Site
2/5 20+ Currencies 150+ Cryptocurrencies 0.1% Visit Site
2/5 USD & Others 190+ Cryptocurrencies 0.2% Visit Site
Disclaimer: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews or comparisons, you can learn more about our Affiliate Disclosure.

1. Bitbuy: Best overall

Our team is unanimous on its decision that Bitbuy is the best cryptocurrency exchange in Canada.

The platform was launched in 2013, under the name InstaBT, and was used for buying Bitcoin only. In 2016, it was rebranded as Bitbuy and added Ethereum, Bitcoin Cash, Litecoin, EOS, and Stellar XLM to its list of supported coins, now supporting 17 cryptocurrencies. You can make a deposit using these seven cryptos or use CAD instead.

Bitbuy homepage

To deposit CAD, you can use wire transfer or Interac e-Transfer. Unfortunately, Bitbuy doesn’t support credit or debit cards at the moment.

Bitbuy has been praised for the helpfulness of its customer support team. They have a toll-free number that users can call to speak with one of their agents. Their website also has a number of support guides and educational material for beginners.

The platform complies with Canadian KYC regulations but still manages to keep the sign-up process quick and simple. Bitbuy is suitable for both newcomers and experts. The latter are invited to use Bitbuy “Pro Trade”, their more advanced trading platform, to swap cryptos, make limit orders, and follow the live order book closely.

Pros:

  • Includes BTC insurance
  • Express Trade feature is user-friendly
  • Pro Trade feature gives access to advanced charts and tools
  • Mobile apps for iOS and Android are available
  • Low trading fees

Cons:

  • Limited selection of cryptocurrencies
  • Only available in Canada
  • Only CAD is supported
  • No live chat support

Visit Bitbuy

Bitbuy logo
5/5

WEBSITE:
bitbuy.ca

Country:
Canada

Currency:
CAD

Fees:
0.5%

Available Cryptocurrencies:
17 Cryptocurrencies

Read Our Full Bitbuy Review

2. NDAX: Best exchange with advanced trading platform

This Canadian crypto exchange is based out of Calgary and was launched in 2018. It has the backing of a major Canadian bank, so it’s come into the scene very well established.

NDAX offers a number of different ways to fund your trading account including Interac, Direct Wire Transfer, Bank Transfer, Debit Card & Credit Card.

NDAX homepage

If you’re a large-volume trader, NDAX has a separate OTC trading desk for orders of $40,000 and more.

One of the main things people love about NDAX is its very friendly and responsive customer support team. Apart from sending a support ticket via email, you can talk to tech support on the phone or via live chat. The platform of course complies with Canadian KYC regulations and is registered as a Money Service Business (MSB) with FINTRAC.

Pros:

  • Includes some of the most popular cryptocurrencies and altcoins
  • Quick verification process
  • Competitive fees 
  • Deposits are free when depositing funds from a Canadian bank account
  • Customer support is available 24/7 (via email and live chat)

Cons:

  • Steep withdrawal fee (CAD $25)
  • Limited choice of digital assets to trade
  • Lacks support for staking
  • Available only to Canadians

Visit NDAX

NDAX logo
4/5

WEBSITE:
ndax.io

Country:
Canada

Currency:
CAD

Fees:
0.2%

Available Cryptocurrencies:
10+ Cryptocurrencies

Read Our Full NDAX Review

3. Coinberry: Great local exchange

Coinberry is the second Canadian cryptocurrency trading platform on our list, founded in 2017. The fact that it’s registered with the Canadian Financial Transactions and Reports Analysis Centre makes Coinberry a trustworthy trading platform.

Users can buy and sell some of the most popular cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, and Stellar. Coinberry is more like a brokerage than a typical cryptocurrency exchange, meaning that you buy cryptos from and sell them to the platform itself in exchange for fiat currencies.

Coinberry exchange homepage

Credit and debit cards are accepted for making deposits, together with e-Transfers and wire transfers. The best thing about Coinberry is that it charges zero fees on both deposits and withdrawals. The only thing Coinberry will charge you for is the trade itself, so there’s an inexpensive 0.5% trading fee.

Customers can have peace of mind knowing that Coinberry employs CDIC insured segregated banking, i.e. stores customer funds separately from the company’s funds.

Pros:

  • Zero fees for cash deposits and withdrawals
  • Beginner-friendly interface 
  • Lloyd insurance and storage protection by Gemini LLC

Cons:

  • Narrow selection of supported coins

Visit Coinberry

Coinberry Logo
4/5

WEBSITE:
coinberry.com

Country:
Canada

Currency:
CAD

Fees:
0.5%

Available Cryptocurrencies:
5 Cryptocurrencies

Read Our Full Coinberry Review

4. Newton: Best with zero commissions

Newton is a new Canadian bitcoin exchange that has won the hearts of many in just a short time. The platform was founded in 2018 in Toronto. The main incentive of Newton’s founders was to help popularize cryptocurrency in Canada, as Canadians are still limited in their choice of exchanges compared to the US or Australia, for example.

Right from the start, Newton was registered with FINTRAC as well and adheres to their AML regulations. This has helped the platform gain even more support from Canadian traders.

The exchange supports Bitcoin, Ethereum, Litecoin, Ripple, Monero, Tether, Bitcoin Cash, Stellar Lumens, USD Coin, and QCAD that you can purchase with CAD. To store the cryptocurrencies you’ve bought, Newton provides a secure digital wallet.

Newton exchange homepage

The great thing about Newton is that it’s commission free! Newton is like a brokerage, which means they buy the coins beforehand and sell them to their users. The only way Newton makes a profit is from the “bid-ask spread” or the difference between the buying and selling price.

When you activate your account, you have a trading limit of up to $500 CAD per day. As you continue using the platform, the limit goes to $5,000 CAD per day, with the final limit being no more than $50,000 CAD.

Pros:

  • Favorable fee schedule
  • Low spreads and sustainable liquidity on both regular and pro versions
  • Strong security measures in partnership with PLAID

Cons:

  • A limited selection of supported cryptocurrencies

Visit Newton

Newton Logo
3.5/5

WEBSITE:
newton.co

Country:
Canada

Currency:
CAD

Fees:
0.7%

Available Cryptocurrencies:
8 Cryptocurrencies

Read Our Full Newton Review

5. Coinbase: Best for beginners (global)

So far, we’ve had three extraordinary Canadian exchanges. Now, let’s take a look at some international exchanges that work for Canadian residents too.

Coinbase is an American-based cryptocurrency exchange and brokerage, founded in 2012. It’s continuously being praised for its user-friendly interface and considered as one of the most reliable online platforms, licensed by different financial authorities and compliant with their AML and KYC regulatory policies.

Coinbase homepage

To protect the company from the volatility of new unsteady altcoins, Coinbase has adopted a Digital Asset Framework that assesses cryptocurrencies against a number of criteria. For example, they take a closer look at the currency’s market capitalization, customer demand, and liquidity among other things.

As a result, Coinbase currently supports the top four cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. They can be bought using wire or bank transfer, credit or debit card. Compared to local Canadian platforms, Coinbase charges higher fees that range between 1.49% for regular orders and 3.99% for card purchases.

If you’re an advanced trader, we recommend checking out Coinbase’s sophisticated trading platform, Coinbase Pro.

Pros:

  • User-friendly
  • Coinbase Pro for advanced traders
  • Global and trusted

Cons:

  • Expensive fees

Visit Coinbase

coinbase logo
3/5

WEBSITE:
coinbase.com

Country:
United States

Currency:
USD

Fees:
Varies

Available Cryptocurrencies:
30+ Cryptocurrencies

Read Our Full Coinbase Review

6. Binance: Best for day trading

Binance originally comes from China and represents the brainchild of Chinese developer Changpeng Zhao, who launched the platform in 2017. Cryptocurrency regulations are particularly strict in China, so the platform had to be relocated to crypto-friendly Malta.

Binance supports an extensive list of cryptocurrencies, from the most popular to the least-known ones that appeal to the most adventurous of traders. The exchange has even created its own token, the Binance token (BNB). Users who own BNB, have the option to spend them when paying for trading fees, and receive a 50% discount.

Binance homepage

They also support margin trading for traders that need it.

They also support margin trading for traders that need it. This crypto exchange is known among traders worldwide for its state-of-the-art security methods. The most groundbreaking feature is SAFU, the Secure Asset Fund for Users, a secure vault to which Binance allocates 10% of all collected fees to cover potential losses in a case of a detrimental security breach.

This is exactly what happened in May 2019, when the platform suffered a major hacking attack in which over $40 million were stolen. Thanks to SAFU, Binance was able to compensate its users for the stolen funds.

Pros:

  • Advanced trading platform
  • Futures trading
  • Massive range of cryptocurrencies
  • Competitive rading fees
  • Highest liquidity on the market

Cons:

  • Not super beginner-friendly
  • Support could be better

Visit Binance

binance logo
3/5

WEBSITE:
binance.com

Country:
Global

Currency:
60+ Currencies

Fees:
0.1%

Available Cryptocurrencies:
600+ Cryptocurrencies

Read Our Full Binance Review

7. Coinmama: Best for credit card crypto purchases (global)

Coinmama is an Israeli-based cryptocurrency exchange from Slovakia which has a long-standing reputation in the crypto world. This international platform is available in around 188 countries and has served more than 2 million customers so far.

Here, you can easily and conveniently buy, sell, and trade cryptos. Although the platform lacks altcoin support, it promises high liquidity for the digital assets it does support. On Coinmama you can purchase the following assets: Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Ripple, Litecoin, Cardano, Tezos, EOS, and Qtum.

Coinmama homepage

In terms of payment methods, you can buy crypto with fiat via bank transfers or credit/debit cards (as long as they’re Visa or Mastercard). Coinmama supports six fiat currencies: CAD, USD, EUR, AUD, GBP, and JPY. The fact that you don’t have to convert CAD into USD or EUR is another reason that Coinmama has made it to our list.

On the other hand, Coinmama has higher fees compared to most of the exchanges on our list. For example, the platform charges up to 3.9% commission fee on buy orders and up to 0.9% on sell orders. Card purchases incur a 5% momentum fee while orders below 1,000 USD made with SWIFT bank transfer have an added 20 GBP fee.

Pros:

  • Variety of payment methods available
  • High limits for credit-card-purchases
  • Fast and very smooth direct purchases

Cons:

  • No mobile app
  • No storage (wallet) option

Visit Coinmama

Coinmama logo
2.5/5

WEBSITE:
coinmama.com

Country:
Slovakia

Currency:
USD & EUR

Fees:
6%

Available Cryptocurrencies:
7 Cryptocurrencies

8. eToro: Best for derivatives and futures trading

The exchange with the longest history on our list is definitely eToro. The platform was founded in 2007 as a financial broker offering all sorts of asset classes like securities, stocks, ETFs, CFDs, etc. It wasn’t until 2013 that the broker added support for cryptocurrencies as well, seeing that their popularity was on the rise.

eToro has both its advantages and disadvantages. On the one hand, it’s true that the platform is good for beginners because of its easy-to-use interface and high level of security (2FA, cold storage, and SSL encryption). Moreover, eToro is licensed by the Australian Securities Investment Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK.

eToro crypto trading homepage

On the other hand, the buying/selling fees are significantly higher than the average. There’s even an inactivity fee that costs $10 per month for accounts that have been inactive for over a year.

That’s why we recommend eToro to more experienced users who prefer trading crypto against crypto instead as the trading fee is only 0.1% plus the spread. On top of that, eToro supports margin trading, leverage, and shorting.

Pros:

  • Low minimum to begin investing.
  • Match moves of popular traders.

Cons:

  • High fees

Visit eToro

eToro logo
2.5/5

WEBSITE:
etoro.com

Country:
Europe

Currency:
EUR, GBP & USD

Fees:
Daily Fees

Available Cryptocurrencies:
90+ Cryptocurrencies

9. Kraken

Kraken is an American-based cryptocurrency exchange that offers its services to clients all over the world. It was founded in 2011 by cybersecurity expert Jesse Powell who managed to turn Kraken into one of the most recognizable platforms in the industry and continues to run the company to this day.

The exchange supports over 50 cryptocurrencies and allows buyers to make fiat deposits in the following currencies: USD, CAD, GBP, YPY, EUR, AUD, and CHF. No extra conversion costs! As for trading fees, Kraken charges 0.16% for makers and 0.26% for takers. These fees aren’t fixed and reflect your monthly trading volume.

Kraken homepage

Kraken’s longevity speaks volumes when it comes to its security level. Throughout the years, Kraken has never been hacked or experienced a major security breach. As far as traders’ account protection goes, there’s the two-factor authentication, a Global Settings Lock, and a Master Key that prevents account changes when activated.

If your lifestyle welcomes trading on the go, you’ll be happy to learn that Kraken has three different mobile apps: a basic one, a Pro platform, and one for futures trading.

Pros:

  • Highest security standards on the overall market
  • Advanced trading options available
  • Fair, volume-based fee schedule

Cons:

  • Poorly responsive customer support limited to automated live chat
  • Very high deposit limits

Visit Kraken

Kraken logo
2.5/5

WEBSITE:
kraken.com

Country:
United States

Currency:
USD, GBP & EUR

Fees:
0.26%

Available Cryptocurrencies:
50+ Cryptocurrencies

Read Our Full Kraken Review

10. Kucoin

KuCoin has an interesting history. Although the platform was launched in 2017, KuCoin was originally developed back in 2011 but its team took the time to perfect the exchange before opening its services to the public.

The exchange has been quick at growing its ecosystem. So far, KuCoin supports around 150 cryptocurrencies, from the most popular, all the way to the newest and trendiest tokens, straight from their ICOs.

KuCoin new homepage

Moreover, it keeps expanding its support for fiat currencies and lets users pay via credit/debit cards as well. Recently, PayPal was added to their list of options too.

If you’re an advanced trader, KuCoin has options such as futures, margin trading, lending, and staking. This year, the exchange has launched its crypto trading bot, showing its dedication in keeping up with the latest fintech solutions. Despite its advanced features, KuCoin tailors its services to beginners as well and offers a lite section on futures trading for the less-experienced traders.

Pros:

  • Low trading fees
  • A lot of supported cryptocurrencies
  • Great staking features

Cons:

  • No fiat-to-crypto trading pairs
  • Unregulated crypto exchange

Visit Kucoin

KuCoin logo
2/5

WEBSITE:
kucoin.com

Country:
Hong Kong

Currency:
50+ Fiat Currencies

Fees:
0.1%

Available Cryptocurrencies:
200+ Cryptocurrencies

11. Bittrex

Bittrex is the last global crypto exchange on our list. This platform was launched in 2013 and spearheaded by a team of cybersecurity experts who had worked at world-leading companies such as Microsoft, Blackberry, and Amazon, prior to Bittrex. At first, the exchange was headquartered in Las Vegas but then relocated to Liechtenstein. Around this time, the exchange was rebranded as Bittrex Global.

Bittrex homepage

Bittrex supports almost 200 different tokens, so there’s no way you won’t find the cryptocurrency you’re looking for. As for payment methods, Bittrex has a fiat gateway that supports USD, GBP, JPY, and EUR deposits. This means that your CAD will be converted into one of these currencies for a small fee. The highest trading fee is 0.2% per transaction.

The exchange protects users’ funds with offline wallets (cold storage). They also comply with AML and KYC policies in the States. Their unique security feature, Know Your Transaction (KYT), monitors the transaction traffic on the exchange and detects any odd trading patterns. Whenever something suspicious pops up, the Bittrex security team is alerted.

Pros:

  • Scure and highly regulated crypto marketplace
  • Simplified verification process
  • A large selection of available cryptocurrencies

Cons:

  • No fiat deposits
  • Could be better customer support

Visit Bittrex

Bittrex logo
2/5

WEBSITE:
bittrex.com

Country:
United States

Currency:
USD, EUR, GBP & JPY

Fees:
0.2%

Available Cryptocurrencies:
190+ Cryptocurrencies

Disclaimer: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews or comparisons, you can learn more about our Affiliate Disclosure.

How to choose the best crypto exchange in Canada

Before you try your hand at buying bitcoin or trading cryptocurrency, you have to make sure you find the best Canadian cryptocurrency exchange that works for your location, target currency, payment method (ideally supports Canadian dollars), etc.

If you already have some experience with this market, you know you can choose between crypto to crypto or fiat currency to crypto exchange. As for you, novices, we recommend sticking to the latter one, at least until you purchase enough cryptocurrencies.

Before you draw the final judgment, make sure you go through every single point on our checklist:

  • Are you a crypto trading beginner or an experienced trader? If you’re a beginner and just want to buy bitcoin, we advise you to stick to user-friendly platforms with easily-navigable interfaces.
  • Have you purchased any cryptocurrencies yet? If you haven’t, it would be much easier for you to use fiat to crypto exchange as an entry point. Most support a variety of deposit methods like bank transfers, debit cards, interac e-transfer, credit cards, etc.
  • Is your target cryptocurrency listed on the exchange? 
  • Do you have a hardware wallet you could use for storing crypto? If you don’t, why not find an exchange that provides one too.
  • Are the transaction fees competitive or unreasonably high? Are there any deposit fees or withdrawal fees? This can be a decisive factor if you can’t make up your mind between two otherwise similar crypto trading platforms.
  • Are you satisfied with the available payment methods?
  • Do you need to complete a KYC check to register for an account and are you okay with that? If you don’t like sharing your private data online, maybe it’s better to use a decentralized exchange.
  • Can you activate two-factor authentication and address whitelist on your account?
  • What kind of customer support do they offer?

Once again, to choose a crypto exchange, you need to come up with an investment strategy first. Later, you can compare it with the features offered by some of the crypto exchanges we recommended. For example, does it support the currency you want to invest in and the payment method you’re most willing to use? Is it secure enough? Is it affordable enough?

On a global scale, Binance has been singled out as the biggest crypto exchange on major crypto sites like CoinMarketCap, judged by the platform’s trading volume, the number of markets, and liquidity.

Bitbuy is our number one choice when it comes to choosing a crypto exchange in Canada! You get a good choice of cryptocurrencies, affordable fees, great customer support, and a variety of trading options.

Again, our vote goes to Bitbuy. The platform uses SSL encryption, 2FA, and stores 95% of all customer funds in cold storage.