Find the best cryptocurrency exchange for beginners, low fees and more.
Canada has 14 homegrown cryptocurrency exchanges, but none of these options offer the full range of services offered by other exchanges. Fortunately, most exchanges around the world do business with Canadians and some even accept Canadian dollar deposits.
Check out this complete list of cryptocurrency exchanges in Canada to find the right one for you. Table of Contents. Founded by a mathematics professor, Coinsquare takes a security-first approach to cryptocurrency trading.
Heavy stress testing, including thousands of daily audits, have kept the exchange hack-free. Coinsquare lists six of the largest cryptocurrencies with support for ripple on the horizon. Besides crypto-to-crypto trades, you can buy and sell coins and deposit Canadian dollars, British pounds, US dollars and euros. The only advanced trading tool Coinsquare offers, a limit order, is only available for bitcoin trades.
Coinsquare requires verification of all its customers. The automated process lets Canadians set up new Coinsquare accounts almost instantly. Once you can trade, your market orders will trigger a 0. Bitcoin limit orders will trigger a 0. Coinsquare is another good option for Canadians just getting into cryptocurrency. Einstein Exchange is a Vancouver-based startup still going through its beta testing phase.
Although new, the exchange already outclasses the more established Canadian exchanges with nine cryptocurrencies in its listing. Whether you place market, limit or stop orders, Einstein Exchange charges a flat 0. You can deposit and trade crypto without getting verified. However, only verified customers may withdraw crypto or trade fiat currency. Einstein Exchange supports electronic deposits and bank wire transfers. You can also buy bitcoin with a credit card.
The only cryptocurrencies Coinberry supports, however, are bitcoin and ether. Fees on Coinberry are a little mysterious. Rather than publishing a rate schedule, Coinberry calculates trading fees dynamically based on the size of the order, the exchange involved in the trade and a spread on the exchange rate, among other factors.
In addition to bitcoin, you can trade bitcoin cash, ether and litecoin on this exchange. The fees QuadrigaCX charges, however, are fairly high — either 0. Since the online verification process can take as long as 72 hours to complete, QuadrigaCX customers can go to their local Canada Post retail outlet for an in-person verification. The most popular cryptocurrencies and support for dollar deposits make QuadrigaCX a solid but unexciting choice.
With no advanced trading options, more experienced crypto enthusiasts may want to look elsewhere. As its name suggests, MyBTC is a bitcoin-only trading platform.
You can use Interac or Flexepin to fund your purchase or directly debit your bank account. That convenience, however, comes at the cost of high fees. MyBTC charges 6. Trading fees on EzBTC are a little steep at 0. Funding or withdrawing fiat money, however, requires verification — a process that can take 24 hours to complete.
NDAX only opened its doors to customers less than two months ago. Still, you can place market and limit orders for bitcoin, bitcoin cash, ether, litecoin and ripple. You can also place stop-limit and other advanced order types that few Canadian exchanges provide.
Enhanced Verification requires full documentation in order to increase withdrawal limits. Market takers will end up paying a 0. Market makers pay nothing. In addition, NDAX charges fees for deposits and withdrawals. Related : NDAX. Montreal-based Shakepay was once a bitcoin prepaid card issuer, but had to shut down when Visa cut off its credit card processor.
The only fee Shakepay charges is a 1. To give itself time to iron out kinks in the trading platform, the new company limited new customer on-boarding to per day until March when it opened up to broader public interest. The centralized exchange supports trading in bitcoin, bitcoin cash, bitcoin gold, dash, ether, litecoin and ripple.
The base markets those coins trade on are Canadian dollars, US dollars and bitcoin. CoinField charges a flat 0. Ripple-based trades incur a 0. Fiat deposits and withdrawals also have fees based on the transaction method you use. Besides bitcoin, the custodial service supports litecoin and feathercoin. Dollar deposits and withdrawals may have fees depending on the funding message.
BitBuy is a Toronto-based crypto trading service that lets you exchange between Canadian dollars and bitcoin, bitcoin cash, ethereum or litecoin. The company differentiates itself through fast fiat transfers and responsive customer service. However, many of its processes are manual which could prove problematic as the company scales. Bitbuy charges fees of 0. Ottawa-based exchange Canadian Bitcoins offers six cryptocurrencies.
It lets you fund your crypto purchase with electronic transfers or by paying cash at their office or through express mail. Buy Bitcoin Canada is a bitcoin seller owned by Ottawa-based blockchain company Bitaccess. You can fund your purchases with direct debit from a bank account or by using cash to buy a voucher from a Flexepin retailer. As it name suggests, Buy Bitcoin Canada is for purchases only you cannot sell bitcoin there.
QuickBT is another sales-only crypto company. Customers are not limited to just buying bitcoin, they can also buy litecoin and ether from QuickBT. Purchases can be made through Interac or by purchasing Flexepin vouchers from a local retailer. Abra is a mobile-based platform that lets you trade more than 50 fiat currencies, including Candian dollars, and 20 cryptocurrencies. The system of synthetic currencies Abra uses gives the platform a lot of flexibility, but has some side effects.
None of the balances in your Abra wallet are real — they are actually smart contracts recorded to the litecoin blockchain. Bisq supports Interac transfers, which you can use to fund your crypto purchases with Canadian dollars. One downside to Bisq is the murkiness of its transaction fees. Rather than set a fixed schedule, the app calculates fees on a trade-by-trade basis. The size of the trade, the difference between market and offer prices, and other factors determine how much any trade will cost.
The exchange has a small listing consisting of bitcoin and three high-volume altcoins. Coinbase does support fiat transactions, but its Canadian dollar support is limited to credit card and debit card purchases.
You cannot withdraw Canadian dollars. The Coinbase Prime interface lets you place simple market orders. All Coinbase customers must verify their phone number and email address. If you want to deal in fiat currencies, however, you must submit more detailed identification documents.
American exchange Kraken has built a reputation for security and stability. This was the exchange Japanese regulators turned to for help winding down the Mt.
Gox debacle. Kraken supports trading in 17 cryptocurrencies and 5 fiat currencies — including the Canadian dollar. Besides market and limit orders, Kraken lets advanced traders place margin orders to boost their returns. Kraken requires verification before allowing customers to place a trade.
Trading fees operate on a maker-taker basis starting at 0. Volume discounts will lower the fees further. Plan ahead before cashing out. Bitfinex has suffered hacks, server crashes and scandals since its founding in , yet still ranks among the largest crypto exchanges by trading volume. The bitcoin, US dollar and ether markets each list more than 70 coins. Markets in euro, pounds and yen, on the other hand, only have half a dozen each.
The trading tools Bitfinex offers go beyond simple market and limit orders and even support leveraged trades. Makers pay a 0. The largest European crypto trading platform Bitstamp was also the first to become a registered financial institution in the EU. You only get access to five cryptocurrencies on Bitstamp, but you can trade those coins with US dollars and euros.
New customers will pay relatively high 0. If you build the right day trading history, you may qualify for volume discounts. Be sure, though, to check the Bitstamp fee schedule.
The exchange has dozens of small fees that you could unintentionally trigger. Also like Coinberry, Changelly charges a high 0.
Regulation of the Canadian cryptocurrency exchanges
For example, a platform that is equally suitable for an experienced or inexperienced trader, or a frequent or infrequent trader, would be judged more positively than a more narrowly-focused platform. Our mission is what cryptocurrency exchanges exist in canada bring you the stories that are most relevant and important in understanding the state of the cryptoeconomy. Offering multiple deposit methods, Coinberry is one of the few exchanges in Canada that allows you to pay for your crypto trading with credit card. We may also receive compensation if you click on certain links posted whwt our site. Beginner friendly: Bitbuy Bitbuy is an all-Canadian easy-to-use exchange, offering people of all skill levels the chance to buy, sell and trade popular cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin. Overall, MyBTC. Gemini Cryptocurrency Exchange. Also like Coinberry, Changelly charges a high 0. You can check crypto exchange trading volumes by looking at its order books prior to sign up. Leonard crypticurrency Crypto Head.
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