The best crypto exchanges in Canada for 2022

Our crypto exchange comparison tool at the top of this page will help simplify and speed up your decision-making process of which crypto platform to choose. You can fund your new account using Interac e-Transfer, wire transfer, debit card, credit card, crypto coins, and more. Multiple fiat currencies are supported, including CAD, USD, and EUR. Binance is the most popular cryptocurrency exchange platform in the world and is available to Canadian users. However, it is banned in Ontario which means it cannot be accessed by users who live there. Binance has robust features, an extensive list of cryptocurrencies to trade, and low fees.

This crypto trading platform and app is registered with FINTRAC and offers several coins, including many metaverse coins, stablecoins, and more. Below, I have listed the best crypto trading platforms and apps in Canada. CoinSmart and Bitbuy are tied for the best cryptocurrency exchange in Canada. Both are easy to use, easy to fund with CAD, and offer competitive trading and transaction fees.

crypto brokerage canada

They also offer a crypto visa card, which you can use Canada-wide and receive cashback in Bitcoin. The majority of your coins are held in offline cold storage with our custodial partners. All of our custodial partners are regulated entities themselves — and they have over $200M in insurance coverage each. While the cryptocurrency space may be new at the moment, many merchants already accept bitcoin worldwide – and blockchain has the potential to impact multiple industries, says Perlin.

And for this, you receive additional coins as a reward—the crypto version of passive income. After you’ve chosen an exchange, you’ll create an account and verify your identity. If this is your first time buying crypto, then you’ll need to deposit CAD before you can start trading.

Summer 2018 – Canada Publishes Official Draft Of New Crypto-Regulation With Focus On KYC/AML

Cryptocurrency includes currencies such as Ethereum, Bitcoin, and Litecoin. Cryptocurrency is decentralized and stored in a ledger, which is called a blockchain. Cryptocurrency allows people to pay and store money without going cryptocurrency broker canada through a bank or even using their name. If you’re looking for specific coins, make sure they are offered by the platform before signing up. It’s important to choose a platform that makes purchasing crypto as easy as possible.

crypto brokerage canada

FTX was our pick for the best exchange for advanced traders because of its low trading fees, its derivative offerings and its large selection of cryptos available to trade on the site. Netcoins, launched in 2014, keeps things cheap and cheerful with no fees for deposits or fiat withdrawals, flat fees for crypto withdrawals and a 0.5% fee for trades. On March 29, 2021, the OSC communicated to crypto asset trading platforms that they must contact Staff to initiate the registration process, or face enforcement action.

Established in 2014,Netcoins is a Canadian exchange platform that allows its users to purchase crypto with either CAD or USD. Netcoins started as a Bitcoin Automated Teller Machine as well as private trading services for larger, institutional investors. If you’re familiar with crypto trading platforms, you may be surprised that Binance didn’t rank higher on our list. It is, after all, the world’s largest crypto exchange, with more than 90 million users worldwide. The problem is that Binance doesn’t work all that well for Canadians. For starters, they are not authorized to operate in Ontario, Canada’s largest province, due to a dispute with the Ontario Securities Commission.

At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians. Coinberry is dedicated to providing Canadians everywhere with easy access to cryptocurrency.

The Best Crypto Exchanges In Canada

While the platform is available as a mobile app, you won’t be able to access all the same advanced trading features from the desktop version. Perhaps you’re only interested in trading Bitcoin and Etheruem. Consider the trading pairs that crypto exchanges offer for Canadians. For example, you might want to trade your XRP to Cardano, but that pair might not be available meaning you would need to first convert your XRP to Bitcoin, then buy Cardano with that Bitcoin. For simplicity and cost-effectiveness, find a cryptocurrency exchange platform that offers the trading pairs you think you’ll need. Shakepay does not offer advanced trading tools because it is aimed at new crypto users and those looking for a simple, easy-to-use experience.

This article covers some of the best cryptocurrency trading apps and platforms you can use. Keep this in mind and factor it into your risk management strategy if you plan to use the Coinbase platform. It is recommended that you store your own digital assets off the platform in a private wallet. Coinbase is a popular US-based cryptocurrency exchange platform that is also accessible to Canadian users. It was founded in 2012, making it one of the oldest exchanges in the space. It’s also one of the most trusted among crypto-enthusiasts and is currently the second largest crypto platform after Binance.

That may turn off more experienced traders, but beginner investors will appreciate the simplicity that is Wealthsimple Crypto. For experienced investors or those just starting to explore the burgeoning world of cryptocurrency, using crypto exchanges is often a quick and easy way to buy, sell, and trade. Just remember to do your research and be aware of factors such as fees, security, and selection before deciding to invest. It is easy to understand for those who are just beginning to invest in crypto, and it offers great tools to advanced traders.

Newton: Best for Trading Fees

You get to keep more of your crypto because we have no CAD deposit and withdrawal fees. As such, you could get hacked or have bugs deplete your holdings. Though many exchanges and wallets have become highly secure over the years, the threat of a security breach is still a possibility. A crypto wallet is a digital wallet that safeguards your crypto, including all its encryptions, such as private and public keys. You can also send and receive coins directly from your wallet, as well as loan them out to earn interest.

Trading fees vary between 0.20% and 0.30% of the amounts traded. When you’re a beginner, it can be difficult to navigate the strange world of crypto. If you’re a more seasoned investor, you probably need more advanced tools and robust features.

  • Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice.
  • Unlike a physical wallet, crypto wallets don’t store cryptocurrencies themselves.
  • Currently, it is led by two women with extensive experience in the Canadian finance industry such as capital markets, banking, payment processing, security, and more.
  • The second point to note is that only electronic funds transfers in Canadian dollars are supported by the platform.
  • It’s a good exchange for both beginners and more experienced crypto investors.

Good customer service is imperative when it comes to the best cryptocurrency exchange platforms. Some Canadian exchanges will only offer email support, while other will offers support via phone, email, live chat and social media. You could be locked out of your account, or a deposit might not clear, or your verification process might have failed. Whatever happens, you’ll want peace of mind knowing you’re with an exchange that takes their customers’ technical issues seriously. Try to find a Canadian crypto exchange that offers 24/7 support in multiple forms. Bitbuy is one of the cheapest cryptocurrency exchange platforms in Canada with trading fees starting as low as 0% – 1.5%, depending on the size and frequency of your trades.

When you look at the advantages and disadvantages of each crypto exchange, you can weigh this against what you are trying to do. This will show you which is the best Canadian crypto trading platform for you. It was established in 2018 and is a beginner-friendly platform . It offers access to several popular cryptocurrencies and multiple ways to find your account, including using credit cards.

CoinSmart is the easiest to use cryptocurrency trading platform. Buy and sell bitcoin and other digital currencies quickly and easily on desktop and mobile. The term “exchange” may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users. When deciding on the best crypto trading platform for your needs, think about what you plan on using it for. Perhaps you are wondering about the best crypto platform in Canada.

Top crypto platforms in Canada

Excellent rates, deep liquidity and same day settlements are just some of the perks of CS Premium. SmartPay Invoicing makes it quick and easy to invoice customers and accept Crypto. CoinSmart utilizes the top custody providers on the planet by leveraging the power of Bitgo and Fireblocks. With one click you can trade from one altcoin to another, without having to trade to Bitcoin or Ethereum first.

For questions about crypto trading in general, our Crypto Help Centre and news in the app should keep you in-the-loop with everything you need to get started. As to whether a cryptocurrency will be the world’s dominant currency, “It’s unclear,” Steves says, “But there will be a few coins worth many trillions of dollars.” But while bitcoin is the largest cryptocurrency, it is just one of many. However, only a few — such as Etherium, Ripple, Dash and Litecoin — have achieved notable penetration.

Whether you’re new to Bitcoin or you were an early adopter, at some point, you’ll want to cash out your crypto and exchange it for cold, hard cash. It offers a unique referral program where, if you refer a friend who signs up using your referral link, you can shake your phone every day to receive small amounts of Bitcoin. The only downside is remembering to shake your phone every day to receive your rewards.

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