Best Crypto Exchange in Canada

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November 2022 Update

7 Best Crypto Exchanges in Canada with Lowest Fees

It can be challenging to choose the best crypto exchange in Canada. While there are many different platforms available, your choice can significantly impact the success of your crypto trades. Sometimes, the platform can affect whether you receive a healthy return on your investment. After extensive research, we have compiled a list of the best crypto exchanges in Canada with the lowest fees. 

What factors should we consider when deciding which crypto exchange to use? Platform security is one of our top priorities. Many unregulated cryptocurrency exchanges have suffered losses due to fraud or theft, which means investors must choose a safe and regulated platform that offers customer protection. Safety, confidentiality, and reliability are crucial when selecting a crypto exchange. 

Many Canadian crypto users favour Bitbuy for its high-level of security and ease of use. Bitbuy is one of Canada's most dependable platforms for purchasing and selling cryptocurrencies. It is also famously cost-effective, offering among the lowest trading fees in Canada. If you are looking for the top crypto exchange, Bitbuy comes highly recommended. 

Canada is home to many of the best crypto exchanges. Each platform offers intuitive features, unique fee structures, and numerous benefits. Below we have compiled a list of the best cryptocurrency exchanges in Canada:

What is the Best Canadian Crypto Exchange?

1. Bitbuy

Bitbuy is the best crypto exchange in Canada. This platform is excellent for Canadians looking for a reliable and secure cryptocurrency exchange. Depending on the volume of your transactions, Bitbuy charges minimal trading fees ranging from 0% to 1.5%. They offer excellent 24/7 customer support. In addition, the platform validates has the ability to can validate user credentials right away.

Bitbuy is an experienced crypto exchange that has processed over $5 billion transactions for over 400,000 Canadian consumers. According to the Ontario Securities Commission (OSC), it is a Registered Marketplace and Investment Dealer. This distinguished status indicates it is a trusted crypto exchange that offers deep liquidity on all order sizes.

Over the years, Bitbuy has continuously improved its crypto exchange platform. The Canadian company has abolished fees on deposits and withdrawals, significantly lowering the overall cost of trading for customers. After making this change, Bitbuy has become an even more appealing choice for crypto investors. Bitbuy has successfully solidified its status as Canada's top cryptocurrency exchange.

Bitbuy is ideal if you're looking for a reliable exchange with excellent customer service. It also comes with the lowest fees in Canada and a cutting-edge mobile app. Open a Bitbuy account today!

Bitbuy Features
· Lowest fees (0% to 1.5%) for trading
· Both newbie and expert traders will find it easy to use
· Supports approximately 25 cryptocurrencies
· High review scores on the App Store, with a strong mobile application
· Superb customer service via email and live chat
· Your cryptocurrency is even more secure if you adhere to a 99% cold storage policy. 

Bitbuy Cost
· Users can open accounts for free
· 0.1% to 1.5% trading commission fees
· Free deposits via INTERAC e-Transfer and Wire Transfer
· 1.5% INTERAC e-Transfer and Wire Transfer Withdrawal fee

Bitbuy is the best platform for: Any investors seeking the best possible trading environment with incredibly low costs.

2. Coinberry

Coinberry supports 31 of the best cryptocurrencies in Canada. This top Canadian crypto exchange charges no fees for CAD deposits or withdrawals. Coinberry customers can quickly deposit money using credit cards and INTERAC e-transfers, making it a fantastic trading option that's safe and secure. 

One of the features that Coinberry fans adore the most is Coinberry Autopilot. It enables users to automatically purchase cryptocurrencies using the tried-and-true investment strategy known as dollar-cost averaging. Dollar-cost averaging is one of the most effective investing strategies currently in use. Coinberry is the only Canadian cryptocurrency exchange that supports this method extensively on its platform. 

Coinberry Features 
· Supports 31 coins in total
· Immediate confirmation of the account
· Capacity to make purchases automatically (dollar-cost averaging)
· The App Store gave this fantastic mobile application 4.5/5 stars
· 24-hour effective client service
· Both newbie and expert traders will find it easy to use
· Gemini-provided cold storage 

Coinberry Cost 
· Both deposits and withdrawals are free of charge
· Has a spread of 0 to 2.5% 

Coinberry is the best platform for: Any investors who wish to buy cryptocurrencies using the dollar-cost averaging technique.

3. Localcoin

Another option to buy crypto in Canada is Localcoin, which has its headquarters in Toronto. Localcoin is an alternative to a crypto exchange through their ATMs with over 800 terminals across Canada.  

Localcoin started offering only Bitcoin but has now expanded to offer 6 different tokens, including Ethereum, Litecoin, Dogecoin, Cardano, and USDC. Coins are offered on market rate plus an exchange fee, similar to how traditional currency exchanges work with fiat money. 

You will need your own crypto wallet before you make a purchase through a Localcoin ATM. Localcoin supports mobile, web, and hardware wallets. Scan your wallet QR code to get started, select the amount you are looking to buy, and insert your CAD bills to complete the purchase. Your coins will then be sent to the wallet address you provided. 

Localcoin only allows you to purchase a maximum of $995 per transaction and a daily limit of $4,975 without any KYC, only SMS verification is required.

Localcoin Features
· Supports Bitcoin and 5 other cryptocurrencies
· Over 800 ATMs around all Canadian provinces
· Supports mobile, web, and hardware crypto wallets
· Purchase crypto with fiat currency (CAD bills)· Both newbie and expert traders will find it easy to use
· There is always someone available to email or livechat

Localcoin Cost (High fees)
· $3 + 10% fee for CAD bill purchases
· 7.5% fee for credit card purchases· 10% fee for cryptocurrency sales

Localcoin is the best buying option for: Any beginner or experienced investors who want to buy cryptocurrencies with fiat currency bills or credit cards at a nearby location.

4. Binance

NOTE (September 2022): Binance has restricted some features to Canadians due to regulations.

Binance is a top-notch cryptocurrency platform and one of the biggest in the world. The crypto exchange offers more than 600 coins.  Also, it offers low trading fees and quickly verifies accounts. Binance has an established software and takes pride in its friendly customer support team.

Binance offers spot trading, margin trading, and P2P trading options. They also have other crypto features such as DeFi products, staking and more. They recently got into NFT’s as well and have a NFT marketplace. Needless to say, Binance has invested deeply into touching every corner of the crypto marketplace.

Unfortunately, at this time, Canadian’s are only able to do a few things on Binance, but this could change.

If you're looking for a reliable, extremely secure cryptocurrency platform, consider Binance. 

Binance Features
· Supports 600+ coins in total
· Low trading commissions
· Live chat and email for customer support are accessible around-the-clock
· Many crypto options like DeFi and NFT’s
· Instantaneous deposits and withdrawals of money
· Safeguards crypto assets with many security features Binance Cost 
· Users can open new accounts for free
· Fiat deposits vary by country and method
· Crypto withdrawals are low cost and usually free

Binance is the best platform for: Any investors looking for a crypto exchange with low trading fees and many altcoin and trading options.

5. Coinbase

Coinbase is a good crypto exchange that Canadians can use, even though it’s based in the US. Unlike other crypto exchanges that focus on a specific region, Coinbase is available in many countries, although features can be limited depending on where you live. 

Coinbase supports trading of over 100 cryptocurrencies, and uses credit card funding and PayPal funding as their most prominent funding methods.

Coinbase users can trade on multiple platforms. The original Coinbase platform is a very simple interface that allows users to utilize USD to buy or sell cryptocurrency. You can fund with Canadian dollars but it will be converted to USD when it hits your account. 

Coinbase Pro has advanced features and allows users to make crypto trades and place market, limit and stop orders as well as advanced charting features. Coinbase also has their own decentralized wallet, NFT marketplace and learn to earn program.

Coinbase users can trade on several  platforms. The original Coinbase platform is a relatively simple interface that allows users to use U.S. dollars to purchase cryptocurrency. Coinbase Pro has advanced charting functions and allows users to make crypto-to-crypto transactions and place market, limit and stop orders. Recently, Coinbase has added some of Coinbase Pro’s functionality and its lower costs to its classic interface with a feature known as Advanced Trade.

Coinbase is also trying out a new option, called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee. In May of 2022, the cost was about $30, though the program was still in beta testing. 

Coinbase Features
· Supports Bitcoin, Ethereum, and many crypto assets
· Affordable rates when placing numerous orders
· Large levels of liquidity to prevent price slipping·
 Top security expertise and specialized security measures
· Easy funding and withdrawals if your bank allows it 

Coinbase Cost 
· Trading fees vary but are typically around 1%
· Credit card deposits are 4% for Canadians 

Coinbase is the best platform for: People who want a simple UI for beginners.

6. Gemini

Gemini is an excellent crypto exchange in Canada, offering decent trading fees. More than 120 cryptocurrencies are supported by Gemini's user-friendly mobile app, which is available for both the iPhone and Android operating systems. 

Gemini's fees typically are 1.49% per trade depending on which cryptocurrency you are trading. These fees may look a little high, regardless, Canadian cryptocurrency traders can consider Gemini as it is a reliable exchange with skilled customer support staff. 

Gemini Features 
· Supports around 120 cryptocurrencies
· Reasonable fees 1.49%  per trade for web orders
· Mobile application with a high rating on iOS and Android
· Earn interest on crypto with Gemini earn 

Gemini Cost 
· Users can open accounts free of charge
· Low variable commissions for trading
· Free withdrawals and deposits of cash
· Free crypto deposits

Gemini is the best platform for: Any cryptocurrency traders interested in trading a variety of alternative coins.

7. Crypto.com

Crypto.com is one of the best crypto exchanges worldwide. Fortunately, Canadian cryptocurrency investors have access to this seasoned platform with an established reputation. Crypto.com is the ideal option for anyone purchasing newly found altcoins before the general public because it supports more than 100 cryptocurrencies. The distinctive features of Crypto.com are unmatched by any other cryptocurrency exchange in Canada. 

Since Crypto.com has invested so much money in cybersecurity, trading on this platform is highly secure. Day traders have an advantage over the rest of the market because this exchange updates prices every second. You can catch up on the latest market trends and make speedy transactions at optimal rates. 

For purchasers looking to make money on new cryptocurrencies, Crypto.com is a trustworthy exchange. However, if you only want to buy more popular coins like Bitcoin and Ethereum, it is suggested that you try Bitbuy or Coinberry instead. 

Crypto.com Features 
· More than 100 coins in selection
· Decent trading fees at approximately 0.4%
· Trading derivative cryptocurrencies (futures and options contracts)
· Allows for ten times the leverage
· Your coins can be staked, enabling you to earn interest daily
· Get discounts of up to 50% on newly listed coins
· All cryptocurrencies can be deposited for free 

Crypto.com Cost 
· Users can register and open new accounts for free
· 0.4% trading commission 

Crypto.com is the best platform for: Any investors who want to buy new and existing cryptocurrencies before they gain widespread use.

How to Choose the Best Crypto Exchanges in Canada?

Are you deciding between several Canadian crypto exchanges with similar benefits and features? It can be tricky to choose the best platform from the above list. You can make a sound argument for each crypto exchange, from the low fees to the top-notch security solutions. 

Here are the key points when trying to find the best cryptocurrency exchange for your investment portfolio:

1. Trading fees

No one wants to be paying out unnecessary fees on crypto trades. Evaluate how much commission you provide to your crypto exchange when you buy and sell crypto. Platforms that claim high trading costs can reduce your profits. The best crypto exchanges will offer reasonably low trading fees.

2. Intuitive interface

An intuitive user interface is essential, especially for beginner crypto investors. You want a crypto trading platform that's simple to navigate and understand. A poor interface may confuse you about where to click or how to trade, which can be frustrating when you are learning about crypto. The more features a crypto exchange has, the more complex the interface becomes. The best platforms should be streamlined for beginners but still contain enough features to satisfy advanced traders.

3. Account financing

You want easy access to fund your account and withdraw your profits at any point. Check to see that your crypto platform offers suitable financing options. They may include bank transfers, INTERAC e-Transfers, credit cards, and other payments. Be sure to keep in mind that deposits and withdrawals often come with a fee.

4. Cold storage account security

A secure crypto wallet is the best way to keep crypto safe and protected. You will need to move your coins off the exchange and transfer them into your crypto wallet. In the interim, ensure the crypto exchange platform offers the best cold storage account security. Cold storage protects your crypto coins with premium security measures.

5. Advanced crypto trading features

More experienced cryptocurrency traders may want advanced features to help them navigate the crypto landscape. Some popular resources include charting tools to order types, an OTC desk, and others. Investors will switch platforms based on the applicability of these advanced crypto trading features. Ensure your crypto exchange offers all the tools you need to make sound investments.

6. Licensed to operate

Ensure the platform you choose is registered, fully licensed to operate, and has legitimacy. Look into the types of asset protection offered. The Canadian crypto exchange must ensure your investments are safe and registered.

7. Customer service

How easy can you get in touch with customer service when you have a question? Some of the best cryptocurrency exchanges offer 24/7 customer support. Their responsiveness is excellent when you have a question, comment, or concern that needs urgent attention.

8. List of supported cryptocurrencies

There are thousands upon thousands of crypto coins available. However, they are not all accessible on every crypto exchange. A platform will specify what coins they support. Ensure your exchange allows you to invest in the crypto you want.

Best Cryptocurrency Exchange in Canada FAQs

Do you have questions about picking the best crypto exchange in Canada? For a beginner crypto investor, the best way to buy crypto is to register with a recommended cryptocurrency exchange, such as Bitbuy. First, decide which trading platform is best for your needs. Then, consider the account features and benefits. Here are some common questions and answers to help beginners learn more about cryptocurrency:

What is the best Canadian crypto exchange?

Based in Toronto, Bitbuy is considered the best cryptocurrency exchange in Canada. This platform is popular among many crypto investors. It is one of the few exchanges that allow you to buy and sell crypto by linking a Canadian bank account. Bitbuy is registered and licensed with the full approval of the Ontario Securities Commission. Impressively, more than four billion dollars have been traded on the platform. Bitbuy maintains over 400,000 Canadian users.

What is the best Bitcoin trading platform in Canada?

Bitcoin is recognized as the gold standard in cryptocurrency. Many often perceive it as the best and most famous crypto coin. Ethereum is a close rival, but Bitcoin remains prevalent in the industry. It has lots of name recognition among cryptocurrency beginners and experts. As such, Bitcoin is available for trade on many crypto exchanges. 

The best Bitcoin trading platform in Canada is Bitbuy. This crypto exchange has the upper hand due to the robust security measures combined with low trading fees. Bitbuy also has an easy verification process, allowing new users to start trading quickly. In addition, Bitbuy can handle deposits and withdrawals speedily, allowing you to buy and sell whenever you like.

What is the best Bitcoin wallet in Canada?

Bitbuy offers the best Bitcoin wallet in Canada. The Bitbuy crypto wallet is protected with the highest security standards in the industry. Its security measures allow users to store their digital currency safely and affordably. There is no need to rely on a software or hardware wallet. Through Bitbuy, you can buy and sell crypto assets as you prefer.

What is the safest crypto wallet in Canada?

Bitbuy has the safest crypto wallet in Canada. It offers many security measures on its exchange to ensure no one unauthorized gains access to your investment. While Bitbuy's wallet is accessible on a smartphone, it still requires multi-factor authentication to verify that the person opening the wallet is trusted. You never have to worry about losing your crypto coins.

What is the best crypto off-ramp in Canada?

When you withdraw crypto in Canada, your exchange charges a fee. The lower that fee, the more of your withdrawal you get to keep for yourself. Bitbuy offers competitive fees on selling crypto at only 0.1 to 0.2%. Its withdrawals cost only 1% when done via wire transfer. These are the lowest crypto withdrawal fees in Canada, making Bitbuy our preferred choice for cashing out.

What is the cheapest crypto exchange in Canada?

Bitbuy is the cheapest crypto exchange in Canada with its low trading fee structure. You are limited to fees of 0.1% on trades made on the Bitbuy Pro platform and 0.2% on instant trades, considerably more affordable than other exchanges. Bitbuy is a famously cost-effective cryptocurrency platform.

What is the best altcoin exchange in Canada?

 Most crypto investors rely on stablecoins, like Bitcoin, creating a high demand in the market. Many crypto exchanges carry these stablecoins in their portfolio. Altcoins are a different story. Since they are more niche, you may only find specific altcoins on several Canadian crypto exchanges. If you're interested in altcoins, the best altcoin exchanges in Canada include FTX and Gemini. FTX is an excellent choice as you can trade altcoins directly instead of exchanging through a stablecoin, minimizing fees. Gemini is another superb option with more than 75 crypto coins, providing diversity other platforms don't have.

What is the most secure crypto exchange in Canada?

Bitbuy is the most secure and safest cryptocurrency exchange in Canada. This registered and licensed Canadian business is famous for its industry-leading security protocols. Bitbuy is well-known for being a trustworthy crypto exchange where users can buy and sell Bitcoin reliably. 

At Bitbuy, coins are held offline in a cold storage wallet, ensuring maximum protection. In addition to its security, Bitbuy's crypto exchange features remain accessible and convenient. Users can move their coins on or off Bitbuy as they see fit.

What is the best crypto exchange in Ontario?

In Ontario, Bitbuy is the province's best crypto exchange. It is based in Toronto, offers extremely low trading fees, and boasts excellent customer support. For someone in Ontario looking to explore crypto investing, Bitbuy is where to do it.

Which crypto exchanges are legal in Ontario?

There are many registered cryptocurrency exchanges in Ontario that are legal and licensed. Some of the famous names include Bitbuy, Binance, and FTX. These platforms follow all Canadian and Ontario-specific regulations. In addition, they are regulated and monitored by the Ontario Securities Commission, among other regulatory bodies.

Is it legal to buy and sell cryptocurrency in Canada?

Yes, it is legal in Canada to buy and sell crypto. You are not breaking the law by trading crypto or using it. However, no cryptocurrency is currently considered legal tender in Canada. There is no indication that it will be regarded as so in the future.

Is Bitbuy legal in Canada?

Yes, Bitbuy is a legally registered business in Canada, just like many other cryptocurrency platforms popular among Canadians. It is legal to buy and sell crypto through Bitbuy and similar exchanges.

What crypto exchange in Canada is best for beginners?

Bitbuy is the best crypto exchange for beginners. A new crypto investor will want a platform that is easy to use and simple in its interface. With Bitbuy, you can sign up and verify your account almost instantly. The crypto trading platform is intuitive and easy to navigate. There's also 24/7 customer support to address issues or seek help anytime.

What is the best crypto app in Canada?

The best crypto app in Canada is Bitbuy. Highly rated, it's the must-have crypto exchange for mobile devices. The Bitbuy app is available for all Android and Apple phones.

What is the best crypto exchange for day trading in Canada?

Bitbuy is the best crypto exchange for day trading. Day trading requires constant crypto buying and selling, which often accumulates a lot of fees. Since Bitbuy has such competitive transaction fees, it is an excellent platform for day traders. At Bitbuy, you will find 0.1% in trading fees between 0% and 1.5% and tight spreads with a live order book. calculated at 0.3%. Price updates also come multiple times per second, ensuring you always have up-to-date information.

Can the CRA track cryptocurrency trades?

Yes, the CRA can track all cryptocurrency trades and transactions. Crypto exchanges must record and submit all transactions valued above $10,000 CAD to the CRA. Records of transactions valued at under $10,000 CAD are not required. Although CRA can track cryptocurrency trades, that doesn't mean they necessarily are. Depending on how much you do to obscure trades and transactions, the CRA may be unable to track your specific activity. 

For example, you may create a complex trail by sending cryptocurrencies through multiple anonymous wallets and passing them through different exchanges. These activities make it more difficult to trace your crypto transactions than simply buying and selling everything on the same platform. Nonetheless, it is not advisable to hide your cryptocurrency purposefully.

Conclusion

Bitbuy is the best way to buy cryptocurrency in Canada. This established crypto exchange offers unprecedented security, easy navigation, and low trading fees. For investors who want to buy and sell crypto in Canada, Bitbuy is the top-rated crypto trading platform. It is our best pick on where to set your cryptocurrency trades.

Frequently asked questions

What is a centralized crypto exchange?

Centralized exchanges are platforms that allow the buying and selling of cryptocurrencies for fiat currencies such as the Canadian dollar or between digital assets such as BTC and ETH. They serve as trustworthy intermediates in deals and frequently serve as custodians, holding and preserving your funds.

What are the benefits of trading on the centralized exchange?

When it comes to transactions and trading, centralized exchanges provide an added degree of security and dependability. Centralized exchanges provide greater levels of comfort by facilitating the transaction through an established, centralized platform.

What is the best centralized exchange to buy Bitcoin and other cryptocurrencies?

Bitbuy stands out as the best centralized exchange to by cryptocurrencies. It is transparent when it comes to transactions and trading, it is very safe and secure, easy to use and has excellent customer support.

How to sell Bitcoin and other cryptocurrencies on a centralized exchange in Canada?

Navigate to your holdings page. Hit the sell button. Confirm how much crypto you wish to sell.

What makes the best crypto exchange in Canada different?

What sets Bitbuy apart from other exchanges is our low fees, excellent 24/7 customer support, and our UI experience. Most of all, Bitbuy is OSC and Fintrac regulated!

How to choose the best crypto exchange in Canada?

The best crypto exchange is easy to use, safe and secure, offers a wide variety of coins, has great customer support and is regulated. When you use Bitbuy, you will experience all of those qualities!

Conclusion

Bitbuy stands alone as the best crypto exchange in Canada. With its numerous advantages, it’s a no-brainer to sign up for a Bitbuy account if you wish to trade crypto in Canada

Investor love 😍

Bravo Bitbuy! Hands down best Bitcoin buying app in Canada. I have used all of the other crypto apps in Canada. This is by far the best app out of them all.
Really simple and easy to use, customer service seems excellent - very responsive and quick. Glad I chose this app for my cryptocurrency
Easy to use, reliable and transparent to its fees, no hidden charges.
Really good app for low fees and easy trading. Especially when compared to other popular crypto apps (like Coinbase) Bitbuy has WAY lower fees for Canadians.
Extremely fast, typically you can get cash from fiat to your favourite crypto exchange within 30 minutes to an hour. Super impressed had to leave a review.
Legit way to buy BTC with Canadian dollars. Simple and quick to set up.

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About Bitbuy

Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.

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