Best Crypto Exchanges In Canada

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

These are the best Canadian exchanges based on our reviews.

1. Kraken (best crypto exchange overall in Canada) 
2. BitBuy (best-regulated cryptocurrency trading platform)
3. Coinbase (best Canadian crypto exchange for beginners)
4. Gemini (best crypto exchange range of fiat)
5. Crypto.com (best exchange in Canada for mobile app)
6. CEX.IO (best place to use a credit card)
7. NDAX (best crypto exchange with low spreads)
8. VirgoCX (best crypto exchange for no fees)
9. MyBTC (best Bitcoin-only exchange in Canada)

Crypto Exchanges In Canada Compared

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Kraken	222	0.16% (maker) and 0.26% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	None available at this time	Visit Kraken	Kraken Review
BitBuy	24	2%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.7 / 5	None available at this time	Visit BitBuy	BitBuy Review
Coinbase	241	0.4% (maker), 0.6% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$5 BTC bonus (USA only)	Visit Coinbase	Coinbase Review
Gemini	87	1.49%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.5 / 5	None available at this time	Visit Gemini	Gemini Review
Crypto.com Exchange	90+	0.4%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.5 / 5	$10 when stake > 1000 CRO tokens	Visit Crypto.com…	Crypto.com Excha…
CEX.IO	100+	0.25% / 0.15%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.2 / 5	None available at this time	Visit CEX.IO	CEX.IO Review
NDAX	13	0.2%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.0 / 5	None available at this time	Visit NDAX	NDAX Review
VirgoCX	60+	Included in spread	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.0 / 5	None available at this time	Visit VirgoCX	VirgoCX Review
MyBTC	Bitcoin	Included in deposit fee	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.7 / 5	None available at this time	Visit MyBTC	MyBTC Review

Top Crypto Exchanges In Canada

To narrow down our top pick for the best crypto exchange in Canada, we examined each platform's top features that matter the most to individuals. These include the supported cryptos, payment methods, deposit fees, user experience, trading fees, mobile app, security, and customer support.

1. Kraken

Kraken is our top pick for the best cryptocurrency platform in Canada. The Kraken platform is a top 5 exchange based on traffic, liquidity, and spot crypto trading volume at the time of writing and has over 70 crypto pairs to buy, trade and sell with new assets added frequently. Users can trade crypto and traditional markets such as Forex pairs like the EUR/USD.

Compared to its competitors in Canada, Kraken provides ample choices for Canadians to deposit CAD. The payment methods available include wire transfers, cash at a local Canada Post, or SWIFT for internationals. In our opinion, the best method to deposit funds is to use a local wire transfer, which has no fees and takes between 1 and 5 business days to process. A faster method is using cash, which takes 30–60 minutes to complete. However, it will attract a 1.25 CAD + 0.25% surcharge for convenience.

There are some restrictions on the supported cryptocurrencies for residents within Canada to be aware of. Certain assets cannot be deposited, held, or traded on Kraken for users in Canada such as EWT, GRT, ANKR, BNT ENJ, FLOW, GHST, LPT, MATIC, MKR, RARI, REN, SAND, SUSHI or ZRX.

One of the perks of crypto trading with Kraken is its accessibility to deep liquidity and stable pricing. While the trading volumes are not as high compared to Binance or Coinbase, Kraken supports 151 cryptocurrencies that can be bought, traded, and sold on over 500 markets. The high trading volumes and advanced trading tools make Kraken an ideal crypto day trading platform for retail and institutional investors in Canada.

The platform is suited for crypto investors to make quick fiat deposits and withdrawals, visualize portfolio performance, track all digital assets in a single location, and access a stable crypto trading platform.

Read our Kraken review for more information.

2. Bitbuy

Bitbuy is a locally owned and operated cryptocurrency exchange that was established in 2016 and is regulated by FINTRAC, an entity of the Federal Government of Canada. The platform offers a reliable, convenient, and secure way to buy Bitcoin and other cryptocurrencies.

Further to new Canadian regulations, assets held within Bitbuy’s cold storage have been transferred to BitGo Trust Company which is a leading qualified custodian that is purpose-built for storing digital assets. All assets held in custody with BitGo are covered by a comprehensive insurance policy, giving customers peace of mind when using Bitbuy.

Bitbuy is available to customers that reside in Canada only. The exchange is limited to deposits in Canadian Dollars (CAD) deposits coming from Canadian banks and/or financial institutions. The exchange does not support payments in US Dollars, Euros, or British Pounds.

Bitbuy supports two payment options for its customers located in Canada to deposit CAD to the exchange to use for buying, trading or selling cryptocurrencies. The CAD deposit options include a bank account transfer and Interac e-Transfers which are near-instant.

For large investments, using a bank or wire transfer is the best way to buy cryptocurrencies with CAD. Customers who are looking to make a smaller and same-day purchase can use Interac e-Transfers which has a minimum spend is $50 up to $10,000.

For more information, read our review on BitBuy.

3. Coinbase

Coinbase is one of the largest cryptocurrency exchanges in the world and is well-known for providing a straightforward and reliable platform. The centralized crypto exchange is used by over 30 million individuals and institutions worldwide and supports investors located in Canada to buy digital assets such as Bitcoin to Ethereum XRP, Litecoin, Bitcoin Cash, and many others.

The deposit fees using a debit card are 3.99% and new investors who want to buy crypto with CAD should be aware of this. Users can use the Coinbase Pro trading platform has high liquidity and is equipped with the best charting software for crypto and risk management tools that will be used by Canadian crypto traders. The transaction fees are 0.5% per trade. 

Residents in Canada can instantly purchase crypto using a debit card and withdraw funds via PayPal. Similar to Binance (which is no longer available in Canada), the exchange does not allow bank transfers using a local Canadian bank account. However, Coinbase is known for its simplicity, ease of use, and security measures to ensure customer funds and personal information are kept safe at all times. To date, there have been no reported hacks, and funds in cold storage are covered by an insurance policy.

For more information, read this Coinbase review.

4. Gemini

Gemini provides support for local bank transfers with zero fees and a user-friendly user interface on its desktop and mobile apps. In fact, Gemini features one of the safest crypto apps to securely and easily buy and sell crypto.

Gemini is a trustworthy cryptocurrency exchange in Canada that was founded by the Winklevoss twins. The exchange indicates it has focused on simplicity and ease of use, making it an appealing way for Canadians to discover high-market capitalization coins and DeFi tokens through an intuitive and elegant web interface or mobile application.

Gemini provides a secure place for individuals, traders, and institutions to buy, sell, and store digital currencies and also earn interest on crypto. Notable features include an advanced trading platform, custody service, secure wallet, crypto trading app, and off-exchange crypto trades.

Gemini customers in Canada can transfer funds into the Gemini Exchange to buy and sell crypto using Canadian Dollars. Deposit funds using a bank transfer or wire transfer will attract zero fees. Otherwise, customers can also buy crypto assets on Gemini using a debit card transaction which incurs a 3.49% fee on the total amount, which is slightly cheaper than Coinbase.

For more information, read our full Gemini review next.

5. Crypto.com

With over 50 million customers worldwide, Crypto.com Exchange and Crypto.com App are premium cryptocurrency services that allow people to buy crypto using Canadian dollars and trade on their advanced trading platform. There are over 250 coins to trade with fiat or cryptos such as USDT, USDC, BTC, and CRO as the base currencies making it a well-rounded option to consider.

The Crypto.com App is a major reason why this exchange has made this list of the best exchanges in Canada. The App features interest-earning wallets, a Crypto.com Visa Card, NFTs, and Crypto.com Pay are easily accessible. We found the Crypto.com App to be enjoyable to use and well-designed with its crisp and responsive nature.

For those looking for a Canadian exchange with NFT support, Crypto.com has an NFT marketplace to buy and sell NFTs that can be purchased using credit/debit cards, or via the Crypto.com App Pay feature. Other notable features include the Crypto.com Visa Card to spend crypto at in-store or online merchants that accept Visa, and the staking platform to earn yield on deposits.

There is the option to buy crypto assets using a credit card in Canadians, however, the current banks are not crypto-friendly, and there have been reports of the transaction being blocked. An alternative is to use a debit card on the Crypto.com app or use an e-transfer through a local bank account that supports Autodeposit.

Read our full Crypto.com review for more details.

6. CEX.IO

CEX.IO is a solid exchange available for Canadians to use that is simple to use and has lower card fees compared to Coinbase. The user-friendly desktop and mobile application make CEX.IO suitable for the wider community.

CEX.IO is a popular crypto exchange to buy Bitcoins instantly using its website or crypto app. CEX.IO is considered to be one of the best crypto exchanges to buy Bitcoin, Dash, XRP, Stella and others with Canadian dollars. The exchange supports a wide variety of deposit methods including credit cards, debit cards, bank transfers, Skrill and more. For Canadians, the best method to deposit CAD is using a VISA or Mastercard. CEX.IO is also one of the best crypto exchanges in Canada to instantly withdraw fiat profits to a VISA or Mastercard or CEX.IO balance. 

In terms of trading fees, CEX.IO uses a maker-and-taker model to determine the appropriate fee to charge users on the exchange. The fees start from 0.25% and 0.16% respectively and reduce with higher trading volumes over 30 days. For credit or debit card purchases using a VISA or Mastercard, a fee of 2.99% applies to deposits and up to 3% + $5 to withdraw money back to the bank card.

For more details, read our full CEX.IO review.

7. NDAX

NDAX.IO is one of the best crypto trading platforms for residents in Canada to convert CAD into digital currencies. Zero CAD deposit or withdrawal fees and low fees of 0.2% are a few reasons for NDAX being rated as a top crypto exchange in Canada.

NDAX.IO, otherwise known as the National Digital Asset Exchange, is a local crypto trading exchange based in the province of Alberta. NDAX.IO has been designed for newcomers with its easy-to-use platform and offers a variety of features such as same-day CAD deposits and withdrawals, low fees, a mobile trading app, an OTC desk, and a crypto portfolio tracker for crypto holdings.

The Canadian crypto exchange supports 13 digital currencies that can be bought and sold using Canadian or US Dollars. The available assets include BTC, ETH, LTC, ADA, XRP, BCH, UNI, DOGE, USDT, LINK, DOT, XLM, and EOS. Each currency can be traded against CAD or USDT.

NDAX is one of the safest cryptocurrency exchanges in Canada and has partnered with Ledger Vault, an institutional-grade digital asset security solution to bring the highest level of protection. Your assets are stored in multi-signature cold storage wallets or Canadian Crown-owned banks in segregated accounts. Since its launch, NDAX has never been hacked or compromised, unlike other Canadian exchanges that have been hacked in the past.

To learn more, read our full NDAX review.

8. Virgo CX

VirgoCX is a safe and affordable crypto exchange in Canada that offers a unique point of difference in the market. Individuals can trade digital currencies with zero trading fees and without CAD deposit and withdrawal charges. The exchange is designed for users who have lowered the barrier to entry with a streamlined user experience and reduced transaction fees.

VirgoCX is slightly different from other Canadian crypto exchanges by offering an easy-to-use trading platform with TradingView charts and an OTC desk for high-network individuals. Although the charting experience is basic, traders are equipped with the necessary order types and tools to place trades and monitor positions. A benefit of VirgoCX being a broker is the selection of crypto assets compared to other crypto exchanges in Canada. There are 60+ different cryptocurrencies that can be traded against CAD. However, for USD-denominated trading, individuals can only trade against Bitcoin and Tether.

The crypto exchange is popular for its zero trading fee platform on buy and sell transactions. VirgoCX does not use a flat or tiered fee structure. Instead, it applies a spread fee on the bid and ask price at a premium to the market through its liquidity partners to cover its operating costs. In our review on VirgoCX at the time of writing, we assessed the spread for Bitcoin to be approximately 0.9% which is competitive in the market compared to exchanges that use the traditional trading fee model. Therefore, it is by no means the free crypto trading platform that it alludes to being.

However, the benefit of incorporating trading fees within the spread (including certain crypto withdrawal network fees) is that it keeps it simple for users. Overall, VirgoCX is a reasonable crypto exchange for Canadians but its trading user interface and mobile app were lacking and could be improved.

For a full assessment, read our Virgo CX review.

9. MyBTC

MyBTC is a well-established Canadian cryptocurrency exchange that was launched in 2016. The exchange offers a safe and easy way to purchase Bitcoin using a variety of common payment methods available such as credit/debit cards, Interac E-transfer, bank wire and Flexipin cash vouchers. The crypto exchange is non-custodial by design that allows a secure transfer of BTC directly to your wallet.

A pro of MyBTC is the simple interface that will suit all types of individuals with various levels of investing knowledge. The website shows each payment method and its transaction speed, daily limits and verification requirements. The customer can choose a suitable payment method by comparing the options to begin the process of obtaining Bitcoin. 

MyBTC.CA also has an excellent track record for providing high-quality and responsive customer service. According to Trustpilot, the exchange has an overall star rating of 4.7/5 based on 199 customer reviews. This is the advantage of using MyBTC which is a smaller exchange in Canada compared to the large global options in this list.

Overall, the process of creating an account, completing ID verification, and purchasing Bitcoin directly using a hardware wallet is one of the best features. There are also great options to pay for Bitcoin such as Interac e-Transfers, bank wires, and credit cards. However, the payment fees are higher than other crypto exchanges in Canada which is a major drawback.

For a full assessment of the fees, read our MyBTC review.

How We Picked The Best Canadian Crypto Exchanges

With so many cryptocurrency exchanges to use, it can be a challenging task for beginners. We have individually researched each exchange listed above and rated the performance against the following criteria. For more information on the categories assessed when comparing the best exchanges, read our full exchange review methodology process.

• Trusted and regulated. Using a FINTRAC-regulated crypto exchange is the safest option to buy and sell crypto in Canada. Moreover, choosing an exchange that is registered with the Ontario Securities Commission is recommended. A full list can be found here.
• Ease of use. The overall user experience and ease of use are important considerations for beginners who have limited experience using a crypto exchange, broker, or trading platform. New investors looking to convert fiat currency to cryptocurrencies are better suited to using a centralized crypto exchange that typically has a simple and quick user interface.
• Deposit methods. The availability of locally supported payment methods to fund an account should be at the forefront of new investors in Canada. Our rating checks the deposit methods available for residents in Canada using Canadian Dollars. For example, one of the quickest and most accessible deposit options is using a credit card linked to a local bank.
• CAD withdrawal methods. Not all crypto exchanges in Canada allow the withdrawal of CAD to a bank account. This is an important feature for investors who will eventually cash out of their investment to a personal bank account.
• Supported crypto. Bitcoin is widely available on the vast majority of digital currency platforms. However, there are thousands of other altcoins and tokens that have become popular. Our rating takes into consideration the number of cryptocurrency assets available and the trading pairs against cryptos and fiat currencies.
• Security. The risk of online scams, fraud, and theft is a major concern in the blockchain community, particularly when using a centralized crypto exchange. Our scoring system assesses the platform's security features to ensure the safety and protection of funds stored by the exchange. Common account security measures include a cold storage wallet, multi-signature withdrawal process, and Two-Factor Authentication (2FA).
• Fees. There are several different fee structures to be aware of when using a crypto exchange account. There are fees to deposit CAD using a variety of deposit methods, withdraw funds, and trade between assets. Exchanges also charge spread fee which is often a ‘hidden cost' and not fully disclosed. Our review takes into consideration all fees associated with depositing, buying, trading, selling, and withdrawing on a crypto exchange.
• Customer support. Explore the website of the crypto exchange to find out what communication methods are available to support users who need troubleshooting advice or assistance on the exchange. Most crypto exchanges will provide comprehensive FAQ's and How-To-Guides which are useful for beginners to get started with crypto.
• Reviews. Reading online crypto exchange reviews, forum comments, and posts on social media is a great way to see what experience other investors and traders have had with the selected crypto exchanges in Canada.

Frequently Asked Questions