The Best Crypto Exchanges in Canada

1. Bitbuy

Front and center on Bitbuy’s website is the best Canadian crypto exchange featuring the Canadian flag. Anybody who uses Bitbuy knows it is one of the safest and most trusted Canadian crypto exchanges out there. Most importantly, we find it the most secure crypto exchange platform for Canadians. Bitbuy conducts regular financial audits and is fully regulated as a Money Service Business (MSB) by FINTRAC and the latest Proof of Reserves Audit showed that BitBuy surpassed their cold storage policy for an average of 98.12%. 

Featuring two reading platforms - Express and Pro - Bitbuy has both beginners and advanced traders covered. Also, Bitbuy has a huge variety of coins available, it can certainly be considered the best exchange to buy Bitcoin in Canada and our #1 recommendation for Canadians.

• Deposits methods: Interac e-Transfer, wire transfer
• Ease of use: Easy and Advanced
• Coin selection: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, EOS, Stellar, LINK, AAVE
• Fees: Interac e-Transfer deposit fee is 1.50% with a withdrawal fee of 1.5%. For wire transfer deposits the fee is 0.50% and the withdrawal fee is 1.00%. The full list of Bitbuy’s fees can be found here
• App: iOS and Android
• Customer support: Email support
• Security: Registered with FINTRAC, and 95% of coins are in cold storage. In addition, in the latest Proof of Reserves Audit that was released on July 2021, BitBuy surpassed its cold storage policy for an average of 98.12%. 

Pros:

• Bitbuy caters to both beginners and advanced traders with its two separate platforms - Express Trade and Pro Trade. Express offers a simple interface while Pro offers advanced order types and charting. With these two platforms, Bitbuy has positioned itself as the go-to place for Canadians no matter how limited or advanced their crypto knowledge
• Bitbuy has a solid reputation for providing Canadians with a secure trading platform 

Cons: 

• Bitbuy has a limited number of coins available (but they have the most popular ones)

2. Coinberry

Coinberry was founded in 2017 and is a great choice for Canadians looking to trade crypto. Over 90% of its customers are automatically verified meaning you can start trading right away. In 2019, Coinberry made history when it partnered with the town of Innisfil for the first-ever payment of property taxes in Bitcoin in Canadian history. The partnership illustrates just how committed Coinberry is to providing cryptocurrency access to Canadians.

• Deposits methods: Interac e-Transfer, debit/credit cards, wire transfer
• Fees: 0% CAD funding and 0% CAD withdrawal fees. Crypto withdrawal fees apply to cover mining costs and the trading fees spread is 0% to 2.5%
• App: iOS and Android
• Customer support: Live chat available
• Security: FINTRAC, PIPEDA compliant, insured by Lloyd’s of London, partnered with Gemini Trust Company LLC™ offering $200M in insurance coverage

Pros: 

• Secure exchange and fully insured 
• Simple, beginner-friendly interface
• Coinberry is dedicated to providing Canadians everywhere with easy access to cryptocurrency. 
• No CAD deposit and withdrawal fees

Cons: 

• A small selection of coins available to trade

3. CoinField

CoinField is a cryptocurrency exchange with an office in Vancouver and another in Estonia. The platform offers all kinds of order types and is a perfect choice for the serious investor. Offering multiple trading pairs and altcoins, as well as fast deposits in Canadian dollars, CoinField is one of the top Canadian cryptocurrency exchanges. More than just an exchange, CoinField backs the cryptocurrency Sologenic (SOLO) and offers SOLO holders discounts on trading fees making it ideal for SOLO fans. 

NOTE: We would not recommend this platform for the begginers

• Deposits methods: Interac e-Transfer, credit/debit cards, wire transfer
• Ease of use: Advanced 
• Fees: CoinField has various trading fees depending on the amount traded (from 0% to 0.25%). CoinField also charges deposit and withdrawal fees but they frequently have limited-time free offers 
• App: iOS and Android
• Customer support: Phone, email, and an online ticketing system
• Security: CoinField is one of the safest crypto exchanges in Canada. It uses cold storage for coins and it is a fully compliant exchange. You will need to provide proof of address and several identification documents in order to trade. With CoinField you can have peace of mind knowing you are dealing with an exchange that prides itself on its security and privacy

Pros: 

• CoinField offers advanced order types, charting, and numerous trading pairs on its platform making it suitable for users with investing experience 
• Offers a wide selection of coins making it the most diverse platform on our list. 

Cons: 

• CoinField’s app makes trading crypto easy, but its desktop platform can be confusing and overwhelming for beginners 
• CoinField charges deposit and withdrawal fees

4. Shakepay

Shakepay is a Montreal-based Canadian cryptocurrency exchange that offers free and fast deposits and withdrawals and is considered one of the cheapest cryptocurrency exchanges for Canadians. You can deposit CAD via Interac e-Transfer or wire transfer. Verification can be instant meaning you can start depositing and trading right away. Shakepay is fast, beginner-friendly, and has a modern interface.

It offers a unique referral program where, if you refer a friend who signs up using your referral link, you can shake your phone every day to receive small amounts of Bitcoin. The more people you refer, the more Bitcoin you earn. The only downside is remembering to shake your phone every day to receive your rewards.

Shakepay does not offer advanced trading tools because it is aimed at new crypto users and those looking for a simple, easy-to-use experience. It has a well-rated iOS and Android app and a customer support team that responds quickly. Currently, Shakepay only allows purchases of Bitcoin and Ethereum, but we think it is one of the best exchanges to buy Bitcoin in Canada.

• Deposits methods: Interac e-Transfer, wire transfer 
• Ease of use: Easy 
• Fees: Free deposits and withdrawals. Trading fees are 1.2 to 2.5%.
• App: iOS and Android 
• Customer support: Email support
• Security: Registered with FINTRAC, coins are kept in cold storage, 2FA available

Pros

• Fast and free deposits and withdrawals
• Unique referral program
• Responsive customer support
• A highly-rated app
• Beginner-friendly interface

Cons

• Only accepts CAD deposits
• Manual verification can take seven days 
• Only Bitcoin and Ethereum are available
• Unknown insurance policy details

5. Coinsmart

CoinSmart’s mission is “making cryptocurrency accessible”. Based in Toronto, CoinSmart offers advanced orders and charting for those who have a bit more experience with investing, yet its simple interface makes it suitable for beginners as well. Built for Canadians, CoinSmart offers same-day deposits, 24-hour customer support, and same-day account verification. This means that you can sign up, deposit your CAD and start trading all on the same day. CoinSmart was built for Canadians with varying levels of experience.

• Deposits methods: Interac e-Transfer, credit/debit cards, wire transfer
• Ease of use: Easy
• Fees: Deposit fee of 1.5% for deposits between $100 - $1999. Free deposits for deposits of $2000+. Withdrawal fees are 1% and there are various crypto withdrawal fees. Trading fees are 0.20% for a single trade or 0.40% for a double trade. A full list of fees can be found here
• App: iOS only
• Customer support: 24/7 live chat, email, and phone support
• Security: $100 million insurance coverage from Lloyd’s of London. CoinSmart uses BitGo cold storage for its coins and it is FINTRAC registered

Pros: 

• CoinSmart offers a wide selection of cryptocurrencies
• The platform offers all the order types you could want as well as Over-the-Counter (OTC) services for large trades
• It has a beginner-friendly interface
• CoinSmart’s SmartTrade offers its users the ability to trade from one altcoin to another without having to convert to Bitcoin or Ehereum first 

Cons: 

• While low, CoinSmart charges deposit and withdrawal fees
• There is currently no app available for Android users

6. Wealthsimple

You might already use Wealthsimple to manage your TFSA, RRSP, and investments in the stock market. The Wealthsimple Crypto account was launched in 2020, and it provides an easy way for Canadians to get started investing in crypto. If you have the Wealthsimple Trade app on your smartphone, you can easily open a crypto account and manage it alongside your other Wealthsimple investment accounts in the same app. What makes this app unique is you can move cash between your accounts in a few clicks.

• Deposits methods: CAD bank transfer
• Fees: 0% deposit and 0% withdrawal fees. 1.5 - 2% trading fees
• App: iOS and Android
• Customer support: Phone support and 24/7 email support
• Security: Coins insured for $200 million by Gemini Trust Company LLC™

Pros:

• If you currently use Wealthsimple for your investments and savings, then it’s an ideal choice if you want to manage all your investments in one place
• Its app is incredibly simple and easy to use
• Perfect choice for people with zero crypto knowledge
• No deposit and withdrawal fees

Cons:

• With Wealthsimple you cannot withdraw your crypto to your own wallet. With this in mind, Wealthsimple is suitable for beginners or traditional stock investors looking for some exposure to crypto. If you are interested in investing in crypto long-term, you will be better suited to using a dedicated cryptocurrency exchange where you can withdraw your coins to a wallet for safekeeping
• Wealthsimple currently only offers Bitcoin and Ethereum
• For risk management purposes there is a 5-day hold on deposits to crypto accounts