10 Best Crypto Exchanges in Canada (May 2022)

1. Coinsmart

CoinSmart is a true Canadian crypto exchange and its mission is “making cryptocurrency accessible for Canadians”. They definitely follow their mission and this is why Coinsmart is the #1 best crypto exchange in Canada. It's accessible indeed and I personally trade crypto with them for many reasons.

Based in Toronto, CoinSmart has everything you need, whether your experience ranges from beginner to pro. Built for Canadians looking to trade crypto, 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. The majority of Canadian crypto exchanges take some time (2-7 days), to check and verify all your IDs. The selection of coins is generous and they also have stable coins (USDC).

I personally love their low fees, fast buy/sell/withdrawal process, and really great support. Indeed, there are some Canadian cryptocurrency exchanges with slightly lower fees, but you might wait 2-7 days to verify your account, not to mention, customer support takes too long to reply. When I use services related to my financial assets, fast and helpful customer support is a MUST have, and Coinsmart has 24/7 live chat, email, and even phone support (the only Canadian crypto exchange that has phone support). 

• Deposits methods: Interac e-Transfer, credit/debit cards, wire transfer
• Currency: Canadian dollars (CAD)
• Ease of use: Easy
• Trading fees: Deposit fee of 1% for deposits between $100 - $1999. Free deposits for deposits of $2000+ (I usually deposit $2000 at once to avoid fees). 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.
• 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 crypto 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 fees (like any other centralized Canadian crypto exchange). However, you can avoid them by depositing over $2000 which is an amazing option and money saver.

2. Uphold

• Deposits methods: Credit/debit card, crypto, equities, precious metals
• Currency: Canadian dollars (CAD), USD, Euros
• Ease of use: Beginner
• Coin selection: 60+ cryptocurrencies, 50+ US stocks, 4 precious metals
• Trading 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. This is why many Canadian crypto investors prefer Uphold over others.

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

3. Newton

Newton is one of the best beginner-friendly crypto exchanges with low trading fees in Canada. It offers popular digital currencies such as Bitcoin, Ethereum and Polkadot as well as many other altcoins that we think may explode in 2022. In fact, they constantly add new coins and improve their platform. 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 trading fees (similar to NDAX and Shakepay). However, it is still a pretty decent crypto platform and fees are pretty cheap. If you decide to use Newton, make sure to check our Newton crypto exchange review.

Still, Newton is one of the best crypto trading platforms 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.

The best thing about Newton is the crypto assets they offer and they grow this list every month. They currently offer over 70+ cryptocurrencies which makes them the best crypto exchange in Canada when it comes to crypto selection.

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

Currency: Canadian dollars

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

Trading 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

4. Bitbuy

Front and center on Bitbuy’s website is one of the best Canadian crypto exchanges 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%. 

The major downside is Bitbuy's fees because they charge a 1.5% deposit & withdrawal fees.

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 one of the best exchanges to buy Bitcoin in Canada. Check more in our Bitbuy review.

• Deposits methods: Interac e-Transfer, wire transfer
• Currency: Canadian dollars
• 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), Polygon (MATIC) and few more
• Trading 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 compare to other Canadian crypto exchanges (but they have the most popular ones)
• High deposit and withdrawal fees

5. 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. Seems like they are making success in getting Canadian crypto investors and significantly improved their crypto trading platform in the past 6 months.

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 and your fiat currency to buy stocks or crypto assets. 

It seems like Wealthsimple is focusing on crypto direction and so many things were improved recently.

I would say, Wealthsimple could be the best crypto exchange for those Canadians, who already trade stock with them. In this case, you can skip many steps with registration and start trading crypto almost right away. 

• Deposits methods: CAD bank transfer
• Currency: Canadian dollars (CAD)
• Trading 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 and digital assets 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:

• For risk management purposes there is a 5-day hold on deposits to crypto accounts
• Highest fees on the list (keep in mind that spread on the bid, and eventually you save money)

6. Shakepay

Shakepay is a Montreal-based trustworthy exchange that offers free and fast deposits and withdrawals and is considered one of the best Canadian crypto exchanges for beginners. You can deposit Canadian dollars (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.

Personally, I use Shakepay because they offer crypto visa card. You can use it anywhere in Canada and get cashback in bitcoin! All you need to sign up with their app and you can apply for a card.

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 with low trading fees.

• Deposits methods: Interac e-Transfer, wire transfer 
• Currency: Canadian dollars (CAD)
• Ease of use: Easy 
• Trading 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
• High spread

7. 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 trading fees. 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 crypto exchange in our Coinberry review.

• Deposits methods: Interac e-Transfer, debit/credit cards, wire transfer
• Currency: Canadian dollars
• Trading 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: 

• High spread
• No debit or credit card deposits
• A few withdrawal restrictions

8. 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
• Currency: Canadian dollars (CAD)
• 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)

9. 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
• Currency: Canadian dollars (CAD), USD, Euros
• Ease of use: Advanced 
• Trading 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

10. Binance

Binance is one of the most popular crypto exchanges in the world and it is available for Canadians (except in Ontario). 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. 

Many Canadian crypto investors stick to Binance, because it offers some of the lowest trading fees of any crypto exchange and if your hold BNB, you can get even lower fees. Selling crypto with Binance is quite complicated but cheap as well. While its crypto trading 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
• Currency: Canadian dollars (CAD), USD, Euros and many more
• Ease of use: Advanced
• Coin selection: 400+ including BTC, ETH, XRP, DOGE 
• Trading 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