Cryptocurrency, a relatively new asset class prone to significant price swings, has kept investors on their toes. From October 2021 to December 2022, bitcoin experienced a steep drop of over 70% in value, showcasing the extreme volatility of the market. However, its subsequent recovery and surpassing of previous highs underscore the dynamic nature of crypto. To navigate these turbulent waters, we’ve compiled a list of the top crypto exchanges in Canada, providing a reliable platform for trading in this rapidly evolving market.
What Are Canada’s Top Crypto Exchanges?
Coinbase
Looking for the top crypto exchanges in Canada? Consider Coinbase, a globally recognized leader in the industry. Recently registered with the Canadian Securities Administrators (CSA), Coinbase stands out as a publicly listed, well-funded, and established player. What makes it a standout choice for both crypto newcomers and veterans? Its user-friendly features, educational resources, reliable customer support, extensive coin offerings, and seamless user experience. Explore the benefits and potential drawbacks of Coinbase today.
| Platform | Score | Coins | Advanced tools | Trading fees |
| Coinbase | 21 | 248+ | Yes | 0%-0.6% |
| Kraken | 20.5 | 240+ | Yes | 0%-0.4% |
| NDAX | 20 | 46+ | Yes | 0.20% |
| Netcoins | 20 | 40+ | No | 0.50% |
| Wealthsimple | 19 | 66+ | No | 0.5%-2% |
| Coinsmart | 18 | 16+ | No | 0.2%-0.4% |
| BTCC | 18.5 | 300+ | Yes | 0.30% |
| Newton | 16 | 70+ | Yes | 1%-1.6% |
| Crypto.com | 15.5 | 350+ | Yes | – |
| Gemini | 15.5 | 70+ | Yes | 0%-1.5% |
| Shakepay | 14.5 | 2 | No | – |
| Coinsquare | 14.5 | 53+ | Yes | 0.5%-2% |
| VirgoCX | 14 | 80+ | Yes | 0.5%-2.5% |
BTCC
Discover the top crypto exchanges in Canada. BTCC stands out, being the first registered digital asset marketplace and a trusted dealer of crypto assets since December 2011, with a solid Score of 18.5. Canadian investors enjoy transparent pricing and consistent fees on BTCC, where orders are matched live, eliminating third-party dealers and ensuring efficient trading.
- Trading fees of 0% to 3%
- Advanced trading tools available through BTCC Pro Trade
- Staking available for certain coins
- Registered with the CSA and FINTRAC
- Canadian platform
- Cons: No live chat for customer support
Kraken
Kraken, a top choice for Canadian crypto investors, boasts an impressive array of features, competitive fees, and a user-friendly experience catering to both beginners and pros. Operating since 2011, it’s well-established in the crypto world and is currently working towards CSA registration. With fees spanning from 0% to 0.4%, Kraken appeals to investors seeking cost-efficiency. Its customer support, accessible via chat and email, offers convenient assistance. Consider Kraken’s strengths and weaknesses to determine if it’s the right fit for your crypto journey.
NDAX
NDAX, a Canadian company, takes the lead over Wealthsimple in user experience, thanks to its sleek and easily navigable website coupled with top-rated iOS and Android apps. Its investment platform is not only user-friendly but also caters to advanced Canadian traders, giving it a significant edge. Plus, with a low trading fee of just 0.2%, NDAX offers an attractive package for traders seeking both convenience and cost-efficiency. Check out the pros and cons of NDAX to learn more about why it’s a top choice for traders.
Wealthsimple
Wealthsimple stands out as a top platform for crypto investing, offering a seamless and intuitive user interface along with excellent customer support. As a CSA-registered platform, it provides integrated tax filing, simplifying the process for investors. Plus, for those seeking diversified investment options, Wealthsimple grants access to traditional investments like stocks and ETFs, as well as a robo-advisor service. Explore the advantages and disadvantages of Wealthsimple to make informed investment decisions.
Which Canadian crypto exchange is ideal for newcomers?
Looking to dip your toes into the crypto market? Wealthsimple, our top pick for crypto newcomers in Canada, boasts a user-friendly trading platform. Here, you can easily buy and sell 57 cryptocurrencies, with trades starting at just $1. And with assets secured by Gemini Trust and insured up to $200 million, security is never a concern. New investors can rest assured, Wealthsimple has your back.
How Does a Crypto Exchange Work?
Cryptocurrency exchanges are online platforms that enable users to buy, sell, and trade digital assets such as Bitcoin, Ethereum, and others. These marketplaces facilitate the exchange of traditional fiat currencies for cryptocurrencies or allow trading of one crypto for another. With a user-friendly interface and secure transactions, crypto exchanges have become a popular choice for investors and traders seeking to enter the exciting world of digital currencies.
How do crypto exchanges operate in Canada?
Operating similarly to their global counterparts, Canadian crypto exchanges allow users to create accounts, complete identity verification (KYC), and deposit funds into their exchange wallets. These platforms enable trading by matching buyers with sellers and executing transactions on their behalf. Users can then place orders to buy or sell cryptocurrencies, leveraging the exchange’s intermediary role for seamless market access.
Which Canadian Crypto Exchanges Dominate the Market?
In Canada, a few crypto exchanges stand out due to their impressive user base and trading volume. Among these, Bitbuy, Coinbase, and Kraken are notably the largest and most recognized. These platforms have gained significant prominence in the Canadian cryptocurrency market.