The Best Crypto Exchanges in Canada in 2022

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. Check more in our Bitbuy review.

• Deposits methods: Interac e-Transfer, wire transfer
• Ease of use: Easy and Advanced
• Coin selection: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, EOS, Stellar, LINK, AAVE, Solana (SOL), Cardano (ADA), Polkadot (DOT), Dogecoin (DOGE), Uniswap (UNI), Sushiswap (SUSHI) and Polygon (MATIC)
• 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%. 
• 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. Most of the people prefer Coinberry over BitBuy due to the lower fees and it makes sense.  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. The city considered Coinberry as the best crypto broker in Canada. Read more about this Canadian cryptocurrency exchange in our Coinberry review.

• 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. Uphold

• Deposits methods: Credit/debit card, crypto, equities, precious metals
• Ease of use: Beginner
• Coin selection: 60+ cryptocurrencies, 50+ US stocks, 4 precious metals
• Fees: 1.8% spread on most cryptocurrency trades, 1% spread on equities, 3% spread on metals, free debit purchases
• App: iOS and Android 
• Customer support: Email, online ticketing
• Security: 2FA, Asset backing transparency, audits, registered as a money services business in USA
• Reputation (1-10): 9.5

Released in 2015, Uphold is the best crypto exchange for multi-asset trading. It is one of the best crypto exchanges in Canada for several reasons. Not only can you trade 60+ popular digital currencies but you can also trade US stocks or precious metals.

With Uphold’s “Anything to Anything” function, you can trade crypto to crypto, or trade crypto for a US stock, or a precious metal, in a few clicks. Not only that but you can place up to 50 simultaneous limit orders without putting up capital for each order. No other cryptocurrency exchange allows this many limit orders at once so we think that makes Uphold one of the best crypto exchanges in Canada.

While the spreads are quite high at 1.8% for Canadians, we still think Uphold is one of the best crypto exchanges because debit card purchases are free. As long as your bank allows the transaction, you can buy crypto from Uphold without additional card charges. You can manage all of your assets on the desktop trading platform or on Uphold’s mobile app. Both offer an easy-to-use trading interface that’s suitable for beginners.

If you’re looking for crypto exchanges in Canada, then Uphold is a great choice. You can keep all of your investments in one place and swap different asset types in seconds. Uphold is certainly the best crypto exchange for multi-asset trading. Check more in our Uphold crypto exchange review.

Pros

• Wide range of cryptocurrencies
• Trade stocks and precious metals 
• Swap crypto for stocks or metal in seconds
• Recurring buy/sell orders
• Educational resources
• 50 simultaneous Limit orders allowed
• Free debit card purchases 

Cons

• High spreads
• Uphold debit card not available to Canadians
• Bank deposits/withdrawals not available for Canadians 
• 3.99% credit card processing fee
• Lack of search filters for equities

4. CoinField

CoinField is a cryptocurrency exchange with an office in Vancouver and another in Estonia. In our opinion, it's so underestimated crypto exchange by Canadians and North Americans overall. The cryptocurrency platform offers all kinds of order types and is a perfect choice for both beginners and serious investors. The best part about CoinField is the huge number of crypto coins they offer as well as low fees compared to the most crypto exchanges available for Canadians.

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. Check more in our Coinfield review.

• 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

5. Binance

Binance is one of the best crypto exchanges in the world and it is available for Canadians. Compare to Bitbuy, it offers over 400 cryptocurrency coins, so it’s the perfect choice for people who like to invest in altcoins. Its native coin, Binance Coin (BNB), is one of the most valuable cryptocurrencies in the world.

Binance is so huge that it has a two billion average daily volume and 1.4 million transactions per second. It operates in 180 countries and accepts fiat deposits in 50+ currencies. Despite some issues they had in the past with Canadian regulations, Binance is still one of the best places to buy crypto in Canada because of its security, reputation, and a vast amount of coins available.

Binance offers some of the lowest fees of any crypto exchange and if your hold BNB, you can get even lower fees. While its platform is certainly not for beginners, once you get used to the advanced interface, Binance offers so much that you’ll probably never look at another exchange again. It's also the best altcoin exchange available for Canadians. Check more about this crypto trading platform in our Binance Canada review.

• Deposits methods: Credit/debit, SWIFT bank transfer with USD
• Ease of use: Advanced
• Coin selection: 400+ including BTC, ETH, XRP, DOGE 
• Fees: 0.1% to 0.02% buy fee depending on VIP level
• App: iOS and Android 
• Customer support: Email
• Security: 2FA, crypto address whitelisting, Trust Wallet partnership, KYC verification process
• Reputation (1-10): 9

Pros: 

• Good for Canadians looking to buy and trade altcoins
• DEX/P2P trading
• Advanced order types
• Margin trading
• Derivatives and futures trading
• Stock token trading
• 400+ coins
• Low fees
• Simple or advanced interface

Cons: 

• No Interac e-Transfer
• Not available in Ontario

6. Coinsmart

CoinSmart’s mission is “making cryptocurrency accessible” and is considered one of the best crypto trading platforms in Canada.

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. Read more about this crypto platform in our Coinsmart review.

• 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

7. NDAX.io

NDAX is a beginner-friendly crypto exchange that offers a good amount of popular digital currencies. Many Canadians believe that NDAX is the cheapest crypto exchange in Canada with the lowest fees.

Indeed, it offers free deposits, fixed withdrawal fees, and a fixed 0.2% buy/sell fee, which makes it easier to work out how much you’ll be charged per trade. These points make it a top choice for Canadians and one of the best crypto exchanges in Canada. Of course, you should be wary about hidden fees in “no-fee” cryptocurrency trading platforms such as NDAX. Check more about it in our NDAX review. Despite this, NDAX is one of the best crypto exchanges and is a good starting point for Canadians looking to purchase crypto for the first time. 

• Deposits methods: Interac e-Transfer, Wire transfer, Bank draft
• Coin selection: Bitcoin, Litecoin, Ethereum, XRP, EOS, Stellar Lumens, Dogecoin, Cardano, USDT, Chainlink, Polkadot, Uniswap, The Graph, Compound, Aave, and Polygon. 
• App: iOS and Android 
• Customer support: Email/live chat
• Security: Assets stored in cold storage using the Ledger Vault (amount unknown)

Pros: 

• Free deposits
• No deposit/withdrawal minimum or maximum
• Fixed 0.2% buy/sell fee
• Wide range of coins available
• Fast Interac deposits 
• Send, request, and gift crypto to another NDAX user for free, instantly
• Address whitelisting

Cons: 

• Only CAD deposits accepted
• No credit/debit cards accepted
• $25 fixed fee for wire/bank withdrawals
• Hidden fees (e.g. high spread)

8. 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. No doubt, it is one of the best bitcoin exchanges in Canada for beginners. We say "bitcoin exchange" on purpose, because Shakepay offers two coins only: Bitcoin and Etherium. Be aware, there are many hidden fees involved that we considered in our Shakepay review.

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 the best crypto app in Canada based on a well-rated iOS and Android app as well as Shakepay's customer support team that responds quickly. Currently, Shakepay only allows purchases of Bitcoin and Ethereum, but we still 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 (the best app to buy cryptocurrency in Canada based on user ratings)
• 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

9. Newton

Newton is one of the best beginner-friendly crypto exchanges in Canada. It offers popular digital currencies such as Bitcoin, Ethereum and Polkadot. Newton has a sleek, modern interface that will appeal to beginner crypto investors. Its cryptocurrency trading platform is easy to navigate and users can take advantage of free deposits and withdrawals.

Even though Newton claims to be a no-fee crypto exchange, it has higher spreads than exchanges that charge fees, meaning it might not be the cheapest option overall (similar to NDAX and Shakepay). If you decide to use Newton, make sure to check our Newton crypto exchange review.

Still, Newton is one of the best crypto exchanges in Canada and is suitable for beginners looking to get their hands on popular cryptocurrencies. It also offers instant verification, which is great if you want to purchase your first crypto fast.

If you’d like more advanced trading features, Newton is working on a Pro trading platform that is currently in its Beta stage. 

Deposits methods: Interac e-Transfer, Wire transfer, Connect bank account

Ease of use: Easy

Coin selection: Bitcoin, Ethereum, Litecoin, Stellar, Bitcoin Cash, Dogecoin, USDC, USDT, Chainlink, Aave, Uniswap, Polygon, Compound, SushiSwap, Curve, Synthetix, Dai, Polkadot

Fees: 

• 0% CAD funding
• 0% CAD withdrawal
• 0% crypto deposit/withdrawals (up to $5 network fee waived)
• No commissions or trading fees
• 0.40% to 0.72% spread

App: iOS and Android 

Customer support: Email

Security: 

• Daily exchange backups
• Third-party custody of assets, mostly offline
• Direct bank integration to reduce fraud

Pros:

• No deposit or withdrawal fees 
• Wide selection of coins available
• You can export a T5 statement
• Sleek interface
• Newton Pro for advanced traders in Beta stage

Cons: 

• No live chat support
• No credit card deposits. Debit must be pre-approved.
• High fee on spreads

10. Wealthsimple

Wealthsimple is known as a trading platform and now they advertise themselves as one of the best places to buy crypto in Canada as well. 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