Note: Binance is not available to Canadians. Binance withdrew from the Canadian market in May 2023 after refusing new CSA investor-protection requirements, and it remains unavailable in every province and territory. Crypto.com is the only active platform here.
In this comparison, we look at Binance and Crypto.com, two prominent cryptocurrency exchanges in Canada. Binance is renowned for its extensive selection of cryptocurrencies and advanced trading options, and completely off-limits to Canadians since May 2023. Crypto.com is one of only two major global exchanges fully registered to operate in Canada, with restricted dealer registration across all provinces and territories since May 2025. This comparison is preserved for historical reference only.
Binance Vs Crypto.com: Which Is Better For Canadians?
Crypto.com wins by default for Canadians. Binance left Canada in May 2023 after announcing on May 12, 2023 that new Canadian securities rules made operating there untenable. Since Binance no longer operates for Canadians, I recommend Coinbase (9.8/10, #1 on my list): open a Coinbase account.
How Do Binance And Crypto.com Compare, Fact By Fact?
Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.
Binance Vs Crypto.com: Master Spec Table
Binance
Crypto.com
Winner
Company
Binance, founded 2017 by Changpeng Zhao. Canadian entity: Binance Canada Capital Markets Inc. (FINTRAC, ceased). Funding and staff: Not published.
Foris DAX CAN ULC, an Alberta unlimited liability corporation (Crypto.com Canada). Global brand says trusted since 2016. HQ city, founders, funding, staff: Not published for the Canadian entity.
Depends
Regulation
FINTRAC MSB M21783493 (Binance Canada Capital Markets Inc.) Ceased 2023-05-30. Not on the CSA authorized or banned list as of 2026-10-02.
CSA restricted dealer (CSA decision May 8, 2025). FINTRAC MSB C100000094, expiry 2027-06-30. Not a CIRO member. AMF: Not verified. CIPF: none for crypto.
Crypto.com
Assets
Hundreds of coins globally, none accessible from Canada.
417 spot base assets on the global Exchange; the Canadian app list is narrower and not published. USDT not available to Canadians.
Crypto.com
Price
Historic global base spot fee 0.1% with BNB discounts. Not applicable to Canadians.
Canadian app fee schedule Not published. Canada marketing: maker/taker from 0.08%/0.18%. App buys include a spread. Global Exchange L1 0.25%/0.50%.
Crypto.com
CAD In
No longer available to Canadians
Interac e-Transfer, free from Crypto.com (CAD 20 to 25,000 per deposit). Other CAD methods Not verified.
Crypto.com
CAD Out
No longer available to Canadians
Sell to the CAD Account, then Interac Standard Transfer back. Needs one prior CAD deposit; internal review up to 1-3 business days. Fee Not verified.
Crypto.com
Crypto In And Out
Legacy Canadian users can withdraw crypto to a private wallet. Networks and minimums: Not published.
On-chain deposits and withdrawals supported; networks, minimums and fees Not verified for Canada.
Crypto.com
Custody
Cold storage with multi-signature wallets and the SAFU fund, per Binance. No Canadian entity holds assets today.
Custodial. Cold storage share, insurance and proof of reserves Not verified on a Canadian page.
Crypto.com
Verification (KYC)
No longer available to Canadians
Government ID and identity verification required before CAD deposits; selfie, address, SIN and clearing time Not verified.
Depends
Account Types
No longer available to Canadians
Personal account confirmed; a business offering exists globally. Joint, TFSA and RRSP Not verified.
Crypto.com
Provinces
No longer available to Canadians
Serves Canada via the restricted dealer decision; per-province list and French support Not verified.
Crypto.com
Extra Products
No longer available to Canadians
Visa prepaid card, staking, Earn, tokenized stocks, prediction markets and perpetuals are advertised globally; Canadian availability Not verified.
Crypto.com
Tax Tools
No longer available to Canadians
Not verified for Canada.
Crypto.com
App
Available in supported countries; for Canadians only to withdraw legacy balances.
iOS Canada 4.63 (66,198 ratings); Google Play 4.4 (692K reviews, global total). Web app yes.
Crypto.com
Support
No longer available to Canadians
In-app chat and help centre. Phone, hours and French support Not verified.
What Are The Key Differences Between Binance And Crypto.com?
Binance Vs Crypto.com: Side By Side
Binance
Crypto.com
Description
Founded in 2017 by Changpeng "CZ" Zhao, a McGill graduate raised in Canada, Binance was the world's largest cryptocurrency exchange by trading volume, offering hundreds of coins, deep liquidity and every product type. It withdrew from Canada in May 2023 after announcing that new Canadian securities rules made operating there untenable, and it is unavailable in every province and territory.
Crypto.com is one of the world's largest crypto platforms and one of the few global exchanges registered to operate in Canada, through Foris DAX CAN ULC as a restricted dealer. It offers its own coin (CRO), staking, a Visa prepaid crypto card with cashback, and an all-in-one app.
Coins
Hundreds of cryptocurrencies including BTC, ETH, XRP, DOGE and USDT, none accessible from Canada.
400+ on its global exchange, though the list for Canadians is smaller because registered platforms must restrict certain assets. USDT has not been available to Canadians since 2023-01-31. The exact Canadian app list is not published.
Fees
A 0.1% base spot fee, dropping with volume and BNB discounts, was historically among the cheapest anywhere. Not applicable to Canadians now.
The Canadian app fee schedule is not published. Canada marketing says maker and taker fees from 0.08% and 0.18%; the global Exchange starts at 0.25% maker and 0.50% taker (Level 1). App purchases carry a spread. CAD deposits by Interac e-Transfer are free.
Pros
Largest exchange in the world with the deepest liquidity
Huge altcoin selection and low fees
Advanced order types, margin, futures and P2P trading
Lite and Pro interfaces for beginners and veterans alike
One of only two major global exchanges registered as a restricted dealer in Canada
Wide range of coins
Suitable for beginners and pro traders
Interac e-Transfer with free deposits
Staking available (assets and rates not verified)
Cons
Exited Canada in May 2023 rather than accept the new CSA requirements that every registered platform accepted
Fined roughly $6 million by FINTRAC for anti-money-laundering reporting failures in Canada
Pleaded guilty in the US in 2023 with an approximately $4.3 billion settlement, with founder CZ serving prison time before a 2025 pardon
Faced Canadian class action litigation over derivatives previously sold to retail investors
Using it via VPN violates its terms, risks frozen funds, and leaves you with no recourse in Canada
Only CAD is accepted for the Canadian CAD Account, no credit or debit card for CAD funding verified
Coin selection in Canada is smaller than the global exchange
App pricing includes a spread on top of quoted fees
USDT delisted for Canadians, and no margin or leverage under restricted dealer conditions
Some altcoins carry annual purchase limits outside BC, AB, MB and QC (see Account Limits)
Customer service is a common complaint, chat-based and often slow (Oleg's original note, not re-tested)
Security
2FA, cold storage with multi-signature wallets, mandatory KYC and the SAFU emergency fund. The 2019 hack (7,000 BTC stolen from the hot wallet, roughly 2% of holdings, fully reimbursed) was a reminder that even giants get breached.
Crypto.com describes cold storage and security certifications, but a Canadian page with cold storage share, insurance amount or proof of reserves was not found. Treat those claims as unverified. Crypto.com's own FAQ says nothing about CIPF covering crypto, and CIPF never covers crypto.
Methods To Buy
Canadians cannot buy crypto on Binance. Legacy users with balances should withdraw to a private wallet. Binance said it hoped to return one day but no return has been announced, so treat any offer of Binance access for Canadians as a scam.
Interac e-Transfer (CAD Account), crypto deposits. Cards and other methods were not verified for Canada.
App
The app works in supported countries; for Canadians its only remaining function was withdrawing legacy balances.
Apple Canada 4.63 (66,198 ratings), Google Play 4.4 (692K reviews, global store total), checked 2026-10-01.
Account Limits
Not applicable. New Canadian registrations were blocked and legacy Canadian accounts were moved to withdrawal-only status.
CAD Account deposits CAD 20 to 25,000 each, balance cap CAD 100,000. As a restricted dealer, Crypto.com applies regulator-set net purchase limits on non-major assets;
How Do You Fund And Cash Out Binance And Crypto.com In Canada?
Crypto.com: CAD Deposits
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer (Standard Transfer or Request Money)
Free by Standard Transfer (bank may charge); Request Money was reported at 1% capped at CAD 10, not
CAD 20
CAD 25,000 per deposit
Not published on the help page
Crypto.com: CAD Withdrawals
Method
Fee
Minimum
Maximum
Speed
Interac Standard Transfer
Not published
Not published
Not published
Internal review up to 1-3 business days, then usually instant, up to 30 minutes
Legacy Canadian accounts are withdrawal-only. No current funding methods. Bank-side Interac limits also apply. Per-method fees for withdrawals and card or wire funding were not retrievable.
What Does It Actually Cost To Buy On Crypto.com?
Worked Cost, Buy Only And Buy Plus Sell (Round Trip)
Amount
Crypto.com Buy
Crypto.com Round Trip
CAD 100
Not published
Not published
CAD 500
Not published
Not published
CAD 1,000
Not published
Not published
CAD 10,000
Not published
Not published
Crypto.com: Canadian app fee schedule and spread not published on a fetched page (2026-10-03). Do not compute an all-in cost. Neither publishes a maker and taker schedule because there is no order book: the spread is the fee. If cost matters most, NDAX (flat 0.20%) or Kraken Pro are cheaper places to buy in Canada. Ranges reflect each platform’s published band, not a single quote. Bank and network fees are not included.
What Do Binance And Crypto.com Offer Beyond Buying And Selling?
Binance Only
Derivatives, margin and P2P (historic): Binance offered futures, margin and P2P trading globally. Canadian retail access ended in May 2023.
Crypto.com Only
CAD Account: Hold CAD, deposit by Interac, balance cap CAD 100,000 (higher for Prime). Sell crypto to CAD and withdraw to your bank.
Welcome Bonus: Canada keeps the legacy milestone-based Welcome Bonus after KYC; the amount was not verified.
What Happens To Your Money If Binance Or Crypto.com Fails?
Binance: Binance has no Canadian entity registered or recognized today, so Canadian regulators give you no recourse. If you still hold a balance, withdraw it to a wallet you control; legacy Canadian accounts were set to withdrawal-only. Using a VPN to keep trading breaks Binance's terms and can freeze your funds. Treat sites and Telegram groups offering Binance access to Canadians as scams.
Crypto.com:Crypto.com in Canada is a restricted dealer under the CSA, so it must hold client assets with conditions set by regulators, but CIPF never covers crypto. A third-party insurance figure, cold storage share and proof of reserves were not found on a Canadian page, so none can be relied on here. Coins are held by the company until you withdraw. If the company failed or was hacked, you would be an unsecured claimant for anything not recovered, and withdrawals could be paused.
How Are Binance And Crypto.com Treated For Tax In Canada?
Binance: Trades on Binance were dispositions for CRA purposes. Export your trade and deposit history while you can still log in for withdrawals. Export formats: Not published.
Crypto.com: Buying with CAD is not a disposition. Selling for CAD, swapping one coin for another and spending crypto are dispositions you report to the CRA. Export formats and any CRA-ready report were not verified.
Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.
Which Should You Choose, Binance Or Crypto.com?
Choose Binance If
You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.
Choose Crypto.com If
You want a mainstream app with a wide coin list and are fine with spread-based pricing
You want a CAD Account funded free by Interac e-Transfer
You are not buying on fee transparency alone, since the Canadian fee schedule is not published
What Happened To Binance?
Binance left Canada in May 2023. On May 12, 2023 it announced that new Canadian securities rules made operating there untenable. Global News reported that the new rules covered stablecoins and crypto contracts, with a CAD 100 million escrow mentioned. A few weeks later, on May 30, 2023, the FINTRAC registry shows Binance Canada Capital Markets Inc. (M21783493) as ceased.
Binance is not on the CSA authorized list and it is not on the CSA banned list. It simply is not here. It said it hoped to return one day, but I found no sign of a return.
Binance: Timeline
Date
Event
May 12, 2023
Binance announces it is leaving Canada
May 30, 2023
FINTRAC lists Binance Canada Capital Markets Inc. as ceased
What Should Existing Binance Users Do?
If you still hold anything on Binance, treat it as an account at a platform that does not serve Canada. I have not verified current withdrawal terms for Canadian users, so confirm them in Binance's own Canada FAQ before you move money, and move long-term holdings to your own wallet.
What Should Binance Users Use Instead?
The closest answer on this page is Crypto.com, a CSA Restricted Dealer with a broad app and a crypto card. Here is what it offers, using the same sources as the cards above.
Crypto.com: Key Facts
Item
Crypto.com
Regulation
CSA Restricted Dealer (Foris DAX CAN ULC), decision May 8, 2025
Trading Cost
Canadian app fee schedule not retrievable; marketing says as low as 0.08% maker / 0.18% taker
Interac E-Transfer Funding
Zero-fee deposits by bank transfer or card, per Crypto.com; limits not retrievable
Cashing Out
Not verified
Coins
400+ on its exchange (global list)
Crypto.com's Canadian marketing advertises maker and taker fees as low as 0.08% and 0.18%. I could not retrieve the Canadian app fee schedule, so I cannot tell you what a normal buyer pays. For reference, the global Crypto.com Exchange starts at 0.250% maker and 0.500% taker at Level 1, but that is not the Canadian app.
Crypto.com says deposits by bank transfer, debit or credit card, or an existing crypto wallet are instant and zero-fee, with other fees and spread possibly applying. Per-method CAD limits and the CAD withdrawal fee were not retrievable.
The global Crypto.com Exchange lists 417 tradable spot assets, but the Canadian app list is narrower and is not published, so I cannot give you a count that applies to Canada.
Foris DAX CAN ULC (Crypto.com) is a Restricted Dealer with the Ontario Securities Commission and the CSA, under a decision dated May 8, 2025. It is not a CIRO member. I could not verify Crypto.com's custody, insurance or proof-of-reserves wording for Canada.
The Crypto.com app is rated 4.63 on Apple's Canadian store across 66,198 ratings and 4.4 on Google Play (692K reviews, store-wide totals).
Crypto.com: Pros And Cons
Pros
CSA Restricted Dealer decision dated May 8, 2025
Very large app-store review base
Broad app with a crypto card
Cons
Canadian fees not published where I could verify them
Canadian coin list not published
Custody and insurance wording not verified for Canada
Pick Crypto.com if you want a broad app with a crypto card and you are happy to check the live fee in the app before each trade.
The status registry I keep for dead and departed platforms points Binance users to Kraken as the like-for-like replacement. Registered Restricted Dealer (Payward Canada) with a broad coin list and CAD Interac funding. Its regulation: cSA Restricted Dealer (Payward Canada Inc.), decision April 1, 2025. Its cost: kraken Pro 0.40% maker / 0.80% taker at the entry tier; Instant Buy 1% plus spread. Coins: about 490 (derived).
What Changed For Binance And Crypto.com In October 2026?
: The CSA issued the Restricted Dealer decision for Foris DAX CAN ULC (Crypto.com).
: FINTRAC lists Binance Canada Capital Markets Inc. (M21783493) as ceased.
: Binance announces it is leaving the Canadian market.
Frequently Asked Questions
What Happened To Binance?
Binance left Canada in May 2023. On May 12, 2023 it announced that new Canadian securities rules made operating there untenable. Global News reported that the new rules covered stablecoins and crypto contracts, with a CAD 100 million escrow mentioned. A few weeks later, on May 30, 2023, the FINTRAC registry shows Binance Canada Capital Markets Inc. (M21783493) as ceased.
Can Canadians Still Use Binance?
No. Binance left Canada in May 2023 and is not available to Canadian residents.
What Should Binance Users Use Instead?
Crypto.com is the option on this page. A broad app with a crypto card. Pick Crypto.com if you want a broad app with a crypto card and you are happy to check the live fee in the app before each trade.
Is Crypto.com Safe For Canadians?
CSA Restricted Dealer (Foris DAX CAN ULC), decision May 8, 2025. Foris DAX CAN ULC (Crypto.com) is a Restricted Dealer with the Ontario Securities Commission and the CSA, under a decision dated May 8, 2025. Crypto itself is not covered by CIPF, so keep long-term holdings in your own wallet.
How Much Does Crypto.com Cost?
Canadian app fee schedule not retrievable; marketing says as low as 0.08% maker / 0.18% taker.
Which Is Better For Canadians, Binance Or Crypto.com?
Crypto.com, because Binance left Canada in May 2023. Pick Crypto.com if you want a broad app with a crypto card and you are happy to check the live fee in the app before each trade.
Do Binance And Crypto.com Have Limit Orders?
Binance: Yes globally, not for Canadians. Crypto.com: Not verified for the Canadian app; the global Exchange has an order book.
Which Coins Can You Buy On Binance And Crypto.com?
Binance: Hundreds globally, none for Canadians Crypto.com: Several hundred globally; Canadian list not published
Is The Spread The Fee On Binance And Crypto.com?
Binance: No longer applicable. Crypto.com: App purchases carry a spread on top of any stated fee, so the quoted price is the real cost.
Does CIPF Cover My Crypto On Binance Or Crypto.com?
Binance: CIPF never covers crypto, and this platform no longer serves Canadians. Crypto.com: CIPF never covers crypto, and Crypto.com is not a CIRO member.
Are Binance And Crypto.com Available In Every Province?
Binance: No longer available in any province. Crypto.com: Served under a CSA restricted dealer decision; province list not verified.
Do Interac Deposits Work On Weekends On Binance And Crypto.com?
Binance: No longer applicable. Crypto.com: Not verified; Interac runs 24/7 but Crypto.com's internal review for withdrawals takes business days.
What Is The Minimum Buy On Binance And Crypto.com?
Binance: No longer applicable. Crypto.com: Deposit minimum CAD 20; minimum buy Not published.
Can A Business Use Binance Or Crypto.com?
Binance: No longer applicable. Crypto.com: A business offering exists globally; Canadian business onboarding Not verified.
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
