Choosing the right cryptocurrency exchange is a critical decision for any trader or investor. The ideal platform can significantly enhance your trading experience, security, and profitability. For Canadian users, factors like local payment methods, regulatory compliance, and support for Canadian dollars (CAD) are particularly important. This guide provides detailed reviews of the top crypto exchanges available in Canada, examining their fees, supported coins, ease of use, security features, and unique offerings to help you make an informed choice.
Top Crypto Exchanges in Canada: At a Glance
| Exchange | Supported Cryptocurrencies | Fees (Spot Trading) | Best For |
|---|---|---|---|
| Kraken | 243+ | Maker: 0.0% - 0.16% Taker: 0.10% - 0.26% | Overall trading, security, altcoins |
| Bitbuy | 24 | Maker: 0.1% Taker: 0.2% | Canadian beginners, simplicity |
| Ndax | 33 | 0.2% (flat fee) | Low-cost trading, CAD support |
| Wealthsimple Crypto | 69 | 1.5%-2% (spread) | Absolute beginners, stock investors |
| Crypto.com | 250+ | Maker: 0.075% Taker: 0.4% | All-in-one ecosystem, rewards |
| Coinbase | 200+ | Maker: 0.4% Taker: 0.6% | Learning, ease of use |
| VirgoCX | 75+ | 0% (spread-based) | Zero trading fees |
Detailed Exchange Reviews
Kraken: Top-Tier Security and Advanced Features
Launched in 2011, Kraken is a globally recognized exchange known for its robust security and comprehensive trading features. It is registered with FinCEN in the U.S. and complies with Canadian regulations, making it a trusted choice for traders seeking reliability and a wide range of options.
Kraken offers spot trading, margin trading, futures, staking, and a user-friendly mobile app. Its standout feature is an impeccable security record, with no major breaches since inception. The platform keeps 95% of user funds in cold storage, enforces two-factor authentication (2FA), and undergoes regular audits.
Supported Cryptocurrencies: 243+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and a vast selection of altcoins.
Fee Structure:
- Spot Trading (0-$50K volume): 0.16% maker / 0.26% taker
- Spot Trading (High Volume): As low as 0.00% maker / 0.10% taker
- Futures Trading: 0.02% maker / 0.05% taker
Pros:
- Industry-leading security with no major hacks
- Extensive range of cryptocurrencies and trading pairs
- Advanced trading tools for experienced users
- Competitive, volume-based fee structure
- 24/7 customer support and extensive educational resources
Cons:
- Instant buy transactions carry higher fees
- Customer support response times can be slow during peak periods
- Fewer fiat currency options compared to some competitors
Bitbuy: simplicity and Trust for Canadians
Based in Toronto, Bitbuy was launched in 2016 and has built a strong reputation as a straightforward and reliable exchange tailored for the Canadian market. It is registered with FINTRAC, ensuring full regulatory compliance.
Bitbuy features two trading interfaces: Express Trade for beginners and Pro Trade for more advanced users. It also offers staking services and an over-the-counter (OTC) desk for large-volume trades.
Supported Cryptocurrencies: 24 major cryptocurrencies, including BTC, ETH, SOL, and LINK.
Fee Structure:
- Pro Trade: 0.1% maker / 0.2% taker
- Express Trade: 0.2% flat fee
Pros:
- FINTRAC-registered and fully compliant with Canadian law
- Dual trading modes cater to both beginners and pros
- 95% of funds secured in cold storage
- Supports Interac e-Transfer for easy CAD deposits
Cons:
- Limited selection of cryptocurrencies
- No futures or margin trading options
- Services are restricted to Canadian residents
Ndax: Low-Cost Trading with CAD Focus
Headquartered in Calgary, Ndax (National Digital Asset Exchange) has been operating since 2018. It is known for its simple, low-fee structure and strong focus on the Canadian market, providing a secure and user-friendly platform.
Ndax offers spot trading, staking, recurring purchases, and an OTC desk. It emphasizes security with cold storage and 2FA, and is registered as a Money Services Business (MSB) with FINTRAC.
Supported Cryptocurrencies: 33 cryptocurrencies, including BTC, ETH, SOL, ADA, and XRP.
Fee Structure: A flat 0.2% fee for all spot trades.
Pros:
- Simple, low flat fee structure
- Free CAD deposits and withdrawals via EFT
- User-friendly interface suitable for beginners
- Strong security practices and regulatory compliance
Cons:
- Limited cryptocurrency selection
- No margin or futures trading
- Available only to Canadian residents
Wealthsimple Crypto: The Beginner's Choice
Wealthsimple Crypto, launched in 2020 and based in Toronto, is part of the larger Wealthsimple investment platform. It is designed for absolute beginners, integrating crypto trading with traditional stock and ETF investing in a single, simple app.
The platform focuses on ease of use, allowing users to buy and sell crypto without the complexity of order books or trading pairs. It also offers staking rewards on certain assets.
Supported Cryptocurrencies: 69 coins, including BTC, ETH, and SOL.
Fee Structure: Charges a 1.5%-2% spread on all trades instead of a traditional fee.
Pros:
- Extremely simple and intuitive interface
- Seamlessly integrated with stock trading
- No complex trading terminology
- Free CAD deposits
Cons:
- Higher effective costs due to the spread
- Lacks advanced trading tools and charts
- Smaller selection of coins than other major exchanges
Crypto.com: A Comprehensive Crypto Ecosystem
Based in Singapore, Crypto.com is more than just an exchange; it's a full-featured ecosystem. Since its launch in 2016, it has expanded to offer a vast array of services, including a popular Visa card that offers cashback rewards in crypto.
The platform provides spot trading, futures, staking with high annual percentage yields (APY), a DeFi wallet, an NFT marketplace, and more. It caters to both traders and those looking to integrate crypto into their daily lives.
Supported Cryptocurrencies: 250+ cryptocurrencies.
Fee Structure:
- Spot Trading: 0.075% maker / 0.4% taker
- Futures Trading: 0.017% maker / 0.034% taker
Pros:
- Huge selection of cryptocurrencies and services
- Attractive staking rewards and cashback Visa card
- Strong mobile app experience
Cons:
- Can be overwhelming for beginners due to its complexity
- Instant buy fees are high
- Customer support is often slow to respond
Coinbase: Learn as You Earn
A giant in the US market, Coinbase has served users since 2012 and is a fully regulated and publicly traded company. It is renowned for its user-friendly interface and strong security, making it an excellent on-ramp for new investors.
A key differentiator is its "Coinbase Earn" program, which allows users to earn small amounts of crypto by watching educational videos about new projects. This unique feature helps users learn about the space while building their portfolio.
Supported Cryptocurrencies: 200+ cryptocurrencies.
Fee Structure: 0.4% maker / 0.6% taker for spot trading.
Pros:
- Excellent, intuitive user experience for beginners
- "Learn and Earn" program provides free crypto
- High security standards and insurance
- Strong reputation and regulatory compliance
Cons:
- Fees are relatively high compared to competitors
- No futures trading for Canadian users
- Advanced trading tools are limited
VirgoCX: Zero Trading Fee Alternative
Toronto-based VirgoCX, founded in 2018, distinguishes itself with a zero trading fee model. Instead of charging per trade, it generates revenue through the bid-ask spread. This can be advantageous for active traders.
The platform offers spot trading, grid trading, recurring buys, and an OTC desk. It also provides 24/7 multilingual customer support.
Supported Cryptocurrencies: 75+ cryptocurrencies.
Fee Structure: 0% fees on spot and grid trading. Revenue is generated from the spread.
Pros:
- No commission fees on trades
- Good selection of cryptocurrencies
- Free CAD deposits and withdrawals
- User-friendly platform with advanced options
Cons:
- Lack of margin or futures trading
- Spread can sometimes be less competitive
- Verification process can experience delays
How to Choose the Right Crypto Exchange in Canada
Selecting the best platform depends on your individual needs as a trader or investor. Consider the following factors:
- Fees: Understand the full fee structure, including trading, deposit, and withdrawal fees. For high-volume traders, low maker/taker fees (like Kraken's) are crucial. For others, a simple flat fee (Ndax) or free deposits might be more important.
- Security: Prioritize exchanges with a proven security track record, cold storage of assets, two-factor authentication (2FA), and regulatory compliance. A history of breaches is a major red flag.
- Supported Assets: Ensure the exchange offers the cryptocurrencies you want to trade. Major platforms like Kraken and Crypto.com lead in variety.
- Ease of Use: Beginners should opt for platforms with intuitive interfaces like Wealthsimple Crypto or Coinbase. Advanced traders will prefer feature-rich platforms like Kraken Pro or Bitfinex.
- Payment Methods: For Canadians, seamless CAD funding is essential. Look for exchanges that support free and fast Interac e-Transfer deposits.
- Regulatory Compliance: Choose exchanges registered with FINTRAC as Money Service Businesses (MSBs). This ensures they operate within Canadian law and simplifies tax reporting.
👉 Compare real-time exchange features and fees
Frequently Asked Questions
What is the safest crypto exchange in Canada?
Kraken is widely regarded as one of the safest exchanges globally due to its flawless security record since 2011, its practice of storing 95% of assets in cold storage, and its strict adherence to regulatory standards in multiple jurisdictions, including Canada.
Which Canadian exchange has the lowest fees?
For active traders, Kraken offers the most competitive fee structure, with rates starting at 0.16%/0.26% and decreasing with higher trading volumes. For those who prefer simplicity, Ndax offers a very low flat 0.2% fee on all trades.
Is it legal to buy cryptocurrency in Canada?
Yes, buying and selling cryptocurrency is completely legal in Canada. The industry is regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), which requires exchanges to register as Money Service Businesses (MSBs).
What is the best exchange for beginners?
Wealthsimple Crypto is the best choice for absolute beginners thanks to its incredibly simple app-based interface that integrates with stock trading. Coinbase is also an excellent option due to its user-friendly design and educational "Earn" program.
Do I need to pay taxes on crypto in Canada?
Yes, the Canada Revenue Agency (CRA) treats cryptocurrency as a commodity. This means profits from selling or trading crypto are considered taxable capital gains. It is important to keep accurate records of all your transactions.
How do I fund my account with Canadian dollars?
Most Canadian exchanges support Interac e-Transfer, which is typically the fastest and cheapest method. Bank wire transfers are also commonly supported. Some exchanges, like Kraken, even offer cash deposits through Canada Post.