Best Crypto Exchange in Canada

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June 2024 Update

7 Best Crypto Exchanges in Canada with Lowest Fees

Disclaimer: This list is for educational purposes only and does not constitute any recommendations. This list uses information compiled from a variety of third-party websites, that each use their own methodology. For more information on registered crypto asset trading platforms in Canada, please visit the Ontario Securities Commission website here. Bitcoin ATMs or non-custodial crypto exchanges are not considered crypto asset trading platforms.

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?

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 2%. 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 $6 billion transactions for over 450,000 Canadian users. 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, significantly lowering the overall cost 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 2%) 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 with a 90% cold storage policy. 

Bitbuy Cost
· Users can open accounts for free
· 0.1% to 2% 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.

$20 FREE* on your first deposit
Coinsquare

Disclaimer: Coinsquare Ltd. (“Coinsquare”) and Bitbuy Technologies Inc. (“Bitbuy”) are affiliates and wholly owned subsidiaries operated by WonderFi Technologies Inc.(“WonderFi”).  WonderFi is listed on the Toronto Stock Exchange as WNDR.

Coinsquare is one of Canada's most trusted platforms for trading cryptocurrencies. The platform supports a variety of digital currencies including Bitcoin, Ethereum, XRP, and more. With Coinsquare, customers can buy, hold, and trade their cryptocurrencies with confidence.

Coinsquare Features
· Supports a variety of cryptocurrencies
· Regulated by CIRO, ensuring a secure trading environment
· Offers a mobile application that allows users to trade anytime, anywhere
· Suitable for both novice and experienced traders

Coinsquare Cost
·
Allows free withdrawal of Canadian Dollars (CAD) straight to your bank
· Coinsquare generates trade quotes using a spread which allows us to eliminate trading fees

Coinsquare is the best platform for: Anyone looking for a secure, regulated platform to trade a variety of cryptocurrencies. It is also ideal for those who prefer to have the flexibility of trading on-the-go through a mobile application.

Learn more
Bitcoin Well

Another option to buy crypto in Canada is Bitcoin Well, which is a non-custodial Bitcoin company that offers a variety of services. Bitcoin Well has over 250 ATMs in Canada as well as personal services and an online portal.

Users can choose to buy Bitcoin online via Visa Debit or Interac e-Transfer up to $3,000 using Bitcoin Well with an easy online platform. If online isn’t your thing, just visit their website and check out their ATM map to make a Bitcoin purchase in person using CAD cash. Selling Bitcoin is also an option when using Bitcoin Well’s services.  

All of Bitcoin Well’s services are non-custodial, meaning you will need your own Bitcoin wallet to interact with their services.

Bitcoin Well Features
· Over 250 ATMs around all Canadian provinces
· Supports mobile and web purchases with an Online Portal
· Purchase crypto with fiat currency (CAD bills) with ATMs
· There is always someone available to email or livechat

Bitcoin Well Cost
· Fees vary depending on services, online trading is 0.21%
· Visa Debit, e-Transfer, cash purchases available  

Bitcoin Well is the best buying option for:
Any beginner or experienced investors who want to buy cryptocurrencies with fiat currency bills or at a nearby location, or e-transfer using an online portal.

Uniswap

Uniswap is a non-custodial, decentralized trading platform that offers crypto trading for thousands of cryptocurrencies, based on the Ethereum blockchain. Because it is decentralized, Uniswap is available worldwide.

Uniswap utilizes a series of smart contracts, which are known as liquidity pools, to conduct trades. As an open-source project, it is categorized as a DeFi product (Decentralized Finance) due to its reliance on smart contracts to enable trades.

The protocol is designed to enable automated transactions between various cryptocurrency tokens on the Ethereum blockchain, all through the use of smart contracts. According to reports from October 2020, Uniswap was considered the biggest decentralized exchange and the fourth-largest cryptocurrency exchange globally based on its daily trading volume.Users will need to set up their own decentralized wallet (such as Metamask) in order to use Uniswap to connect and trade crypto.

Uniswap Features
· Supports thousands of coins
· P2P trading through liquidity pools
· Decentralized and trustless, you hold your own crypto at all times
· Fees can vary depending on current Ethereum gas fees

Uniswap is the best platform for: Traders with an advanced understanding of decentralized finance, and non-custodial wallets.

Bull Bitcoin

Bull Bitcoin is a non-custodial Bitcoin-only exchange and payments service, based in Canada.
Bull Bitcoin is another Bitcoin only option, where you can get Bitcoin in your personal wallet in minutes after signing up for an account, and sending an e-Transfer.

They also have a Bitcoin selling product called Bylls where users can send their Bitcoin to their account and receive CAD via Interac e-Transfer, standard biller, credit card, bank account or Bull Bitcoin account balance. Bull Bitcoin has been in business since 2013, when it was founded in Montreal at the Bitcoin Embassy.

Bull Bitcoin Features
 
· Supports Bitcoin Only
· Spread model fees
· Non-custodial
· Buy or sell capability for Bitcoin

Bull Bitcoin Cost

· Users can open accounts free of charge
· Variable fees for selling Bitcoin depending on amount (Over $10,000 is 1.25%)

Bull Bitcoin is the best platform for: Any traders looking for a non-custodial Bitcoin only option.

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.

Beaver Bitcoin

Beaver Bitcoin is a non-custodial Bitcoin exchange that allows Canadians to set up a fully-automated, weekly Bitcoin buy, directly from their bank account. It is a Toronto-based start-up, founded in 2021. It calls itself the most user-friendly Bitcoin exchange, and can allow you to buy Bitcoin in just three steps.

Users will have two options when buying Bitcoin on Beaver Bitcoin, ‘smash buys’ which are one time purchases using Interac e-Transfer, or recurring buys, where users can buy directly from their bank account automatically.

Beaver Bitcoin Features
· Supports Bitcoin Only
· Has an automated buy or dollar cost averaging feature for easy buying
· Non-custodial and easy account sign ups

Beaver Bitcoin Cost

· Recurring purchase fees are 3%
· Smash Buy, e-Transfer buys are 1.5%

Beaver Bitcoin is the best platform for: People who want to easily buy Bitcoin with a recurring buy feature.

How to Choose the Best Crypto Exchanges in Canada?

Disclaimer: This list is for educational purposes only and does not constitute any recommendations. This list uses information compiled from a variety of third-party websites, that each use their own methodology. For more information on registered crypto asset trading platforms in Canada, please visit the Ontario Securities Commission website here. Bitcoin ATMs or non-custodial crypto exchanges are not considered crypto asset trading platforms. When choosing your crypto exchange, please do your own research and consider the points outlined below.

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 can be considered as 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 easily moving CAD from your Canadian bank account. Bitbuy is registered with the Ontario Securities Commission as a crypto asset trading platform. Impressively, more than six 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. 

One of the best Bitcoin trading platform in Canada is Bitbuy. This crypto exchange has the upper hand due to the robust security measures combined with competitive 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 one of 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 one of 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.

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 between 0% to 2% depending on trading volume. Its withdrawals costs 1.5% when done via wire transfer. These are some of the lowest crypto withdrawal fees in Canada, making Bitbuy a preferred choice for cashing out.

What is the cheapest crypto exchange in Canada?

Bitbuy's fees are amongst the cheapest in Canada for high volume traders due to its tiered trading fee structure. Your fee tier is based on your total trading volume over last 90 day period calculated at the end of the month, and will apply to the current month.

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, consider exchanges with a high number of coins listed. Bitbuy has over 25 cryptocurrencies listed and consistently continues to add new coins.

What is the most secure crypto exchange in Canada?

Bitbuy can be considered one of 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 and Coinberry. 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. To see the full list of exchanges registered by the OSC, please visit their site here.

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 amongst the best crypto exchanges 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 can be considered to be Bitbuy. Highly rated, it offers a mobile version of the crypto exchange platform experience. The Bitbuy app is available for all Android and iOS phones.

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

Bitbuy is one of 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 between 0% to 2% in trading fees and tight spreads with a live order book. Price updates also come multiple times per second, ensuring you always have up-to-date market price.

Conclusion

Bitbuy is one of the best ways 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 a top-rated crypto trading platform.

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 one of 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 registered with the OSC and FINTRAC.

How to choose the best crypto exchange in Canada?

The best crypto exchange should be easy to use, safe and secure, offer a wide variety of coins, with great customer support and be 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

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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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