Page Summary
In this review, we talk about the best crypto exchanges in Canada. We tested 133 cryptocurrency exchanges in 8 distinct categories. We analyzed all particularities of their service, including costs, platforms, apps, assets, deposit methods, liquidity, customer service, and security.
The exchange platforms with the highest scores are in the following list.
Top 5 Best Crypto Exchanges In Canada
- Crypto.com – Best crypto exchange in Canada. Excellent portfolio and trading app.
- Binance – Well-established cryptocurrency trading platform with large trading volumes and liquidity.
- Coinbase – Great trading platform and low trading fees.
- Gemini – In-house hot wallet, access to different coins and deposit methods.
- CEX IO – Great assets coverage and crypto margin trading.
Best Crypto Exchange In Canada – List
| Exchange | Overall Score | General info | Fees (Maker/Taker) | Spot Volume (BTC) | |
| #1 | Crypto.com | 4.3 | Excellent portfolio and trading app | 1.8%/2.75% | $68,571 |
| #2 | Binance | 4.3 | Best altcoin portfolio | 0.1% /0.1% | $806,899,070 |
| #3 | Coinbase | 4.4 | Best crypto trading platform | 1.99%/1.99% | $451,706,550 |
| #4 | Gemini | 4.5 | In-house hot wallet, access to different coins | 0.01%/0.00% | $808,571 |
| #5 | CEX IO | 4.6 | Most asset classes | 0.01%/0.00% | $808,571 |
This section below breaks down the best crypto trading platforms in Canada, beginning with the highest-rated Crypto.com
1. Crypto.com – Best Overall Crypto Exchange Platform In Canada
Crypto.com has an excellent asset portfolio and a versatile mobile trading app. It is a leading crypto exchange platform in Canada with access to valuable tools. Crypto.com offers NFTs, staking, e-wallets, and a proprietary credit card.
This platform has a transparent fee policy with competitive trading costs. Crypto.com offers additional bonuses for holding different assets in your account. It has access to 251 cryptocurrencies and an intuitive trading app.
Pros
- Highest security standards
- Great offer of crypto trading instruments
- Very good trading platform
- Very good research and educational tools
- Very good mobile trading application
- Very good wallet
Cons
- Slow customer service
- Very complex fee schedule (if you do not hold Cronos tokens fees are high)
- Difficult to navigate
Key features
- Spot and margin crypto trading
- Crypto payments
- Crypto.com Visa Credit Card
- Staking, crypto loans
- Proprietary Cronos tokens
2. Binance – Best Altcoin Portfolio In Canada
Binance is a well-established platform with secure services. It has an attractive asset portfolio with access to leading coins. Binance offers advanced trading solutions for high-volume traders.
This exchange has competitive trading fees and offers staking rewards. The Binance mobile app is intuitive and follows strict safety rules. It has limited learning tools and offers premium account features, including OTC trading.
Pros
- The best daily trading volume for both spot Crypto trading and for Crypto derivatives
- The best choice of different assets to trade
- Great choice of saving and stalking options
- Very competitive trading fees
- Very good trading platform with lots of advanced features
- Easy sign-up process
- Very good choice for mobile trading
- Great deposit and withdrawal options
Cons
- Exchange has been hacked in the past
- Considerable withdrawal fees
- Customer support is sometimes hard to
Key features
- Spot and derivative crypto trading
- P2P (Peer-to-peer) crypto trading available
- Trading platform integrated with tradingview; automated trading available
- Savings, staking, crypto loans, Binance smart pool
- Binance liquid swap
- Binance Visa Card
3. Coinbase – Best Exchange Platform With Fast Trade Execution
Coinbase is a leading exchange platform with fast trade execution and secure services. It has a good asset portfolio with 107 cryptos. Coinbase has average trading fees and customer service.
This exchange has two proprietary platforms. The standard Coinbase platform is beginner-friendly and offers straightforward tools. The Coinbase Pro platform has advanced features and lower trading fees.
Pros
- Strong selection of supported digital currencies
- Great trading volume
- Easy to use trading platform
- Great security standards
- Very good deposit and withdrawal options
- Great option for mobile trading
Cons
- No margin trading (Crypto derivatives)
- Customer service is sometimes hard to reach
- Fees are higher than average
- Your account can be closed depending where you send your cryptos
Key features
- Spot crypto trading
- Opportunity to earn cryptocurrencies through crypto learn
- Saving, staking, crypto borrow
- Coinbase Visa Card
- Built their own stable coin (USDC)
4. Gemini – Best Exchange With An In-House Hot Wallet
Gemini is a trustworthy provider with professional platforms. Users receive excellent support and real-time status updates about the platform’s functionality. Gemini has many attractive features, including a crypto rewards credit card.
The Gemini platform has an intuitive design and access to a reliable portfolio. It offers access to 106 popular coins, including Bitcoin and Ethereum. Gemini has high trading costs and access to a secure in-house hot wallet.
Pros
- Well regulated
- Highest security standards
- Trading platform is easy and intuitive to use
- Very good crypto wallet
- Very good mobile application
Cons
- Derivatives are not available
- Trading fees are above industry average
- Slow customer support
Key features
- Spot crypto trading
- It an online crypto wallet where you can buy, sell, store and exchange most popular cryptocurrencies
- Automated trading
- Gemini pay service
- Provide set of services for corporations, wealth and asset managers and hedge fund managers
- Proprietary Gemini USD token
5. Cex.io – Best Exchange With A Fast Mobile App
CEX IO is a top choice for traders at all levels who want access to a fast mobile app. It offers standard crypto exchange services with access to 93 asset classes. CEX IO has access to collateral loans and advanced trading features.
This exchange has high trading costs and charges a 2.99% fee on deposits. CEX IO offers staking rewards to all its users for holding specific coins.
Pros
- Regulated and licensed
- Very good deposit and withdrawal options
- Very good customer support
- Great choice for mobile trading
- Very good Crypto wallet
Cons
- Low security ratings, being hacked previously
- Low trading volumes
- Limited educational content
Key features
- Spot and derivative crypto trading
- Automated trading available
- Provides opportunity to earn cryptos (staking, saving)
- Crypto backed loans are available
- CEX.IO credit card
How To Choose A Crypto Exchange?
To choose a crypto exchange, you have to focus on essential aspects such as costs, platforms, deposits & withdrawals, customer service, asset portfolios, liquidity, and safety.
Fees: We recommend choosing a crypto exchange with a transparent fee structure. You should avoid crypto exchanges with high trading fees, hidden costs, and overnight commissions.
Trading Platforms: Select an exchange platform with a user-friendly design and intuitive interface.
Mobile Trading: Trading apps need to offer the same crypto services and tools as their web versions.
Deposit & Withdrawal: Select a platform with access to your preferred withdrawal and deposit methods. The best Canadian crypto exchanges offer access to bank transfers and Interac e transfers.
Assets: We recommend you choose a platform with the best asset coverage. Crypto traders should avoid Canadian crypto exchanges that don’t offer popular altcoins like Ethereum, Polygon, Tether, and Cardano.
Customer Support: Traders at all levels should search for a platform with responsive customer support available in their language.
Liquidity: Search for a platform with high trading volumes and liquidity. These will help you sell your crypto assets.
Security: Consider crypto exchanges with top-tier licenses and a clean track record of hack attacks.
Regulation Of Cryptocurrency Exchanges In Canada
The Canadian Securities Administrators (CSA) and the Central Bank Of Canada (CBC) regulate cryptocurrency exchanges in Canada. The CBC oversees all financial activities, including cryptocurrency trading. All exchanges with headquarters in Canada need to request authorization from the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC). All crypto exchange providers are subject to the same regulation as money services businesses.
Is Cryptocurrency Trading Legal In Canada?
Cryptocurrency trading in Canada is legal. Digital assets aren’t legal tender, but Canadians use cryptos for commercial purposes in online shops. All gains from digital financial activities are subject to either capital gains or income taxation.
How To Start Trading With – Crypto.com
Crypto.com is a top exchange in Canada because of its comprehensive portfolio, intuitive app, and premium tools. Here are the steps you need to take to trade with Crypto.com.
Step 1: Access the Crypto.com main website
Open up the Crypto.com website and download the app under this link here – https://crypto.com/eea/app.
Step 2: Install the app and click on the “Sign Up” button
Install the Crypto.com app and click on the “Sign Up” button. Submit your personal email address and choose a password.
Step 3: Verify your account
To invest in cryptocurrencies with Crypto.com, you must create an account, verify your identity, and make the first deposit. After signing up, you’ll receive an explanatory email on how to verify your Crypto.com account.
Step 4: Buy and sell crypto coins
Search for the asset portfolio in your Crypto.com account. Select your coin and buy, hold, or sell fractions of the asset. You don’t have to purchase a whole coin to own cryptocurrencies.
Conclusion
We recommend Crypto.com as the best crypto exchange for Canadian crypto enthusiasts. It offers secure exchange services, competitive trading fees, and an attractive asset portfolio. Binance is our second choice as a Canadian crypto exchange because of its broad selection of tradable assets.
FAQ
What Is A Centralized Cryptocurrency Exchange?
A centralized cryptocurrency exchange is a private provider with a secure platform for crypto exchange services. This type of exchange complies with strict rules, requests account verification, and forces compliance with the Know Your Customer (KYC) rule.
What Is A Decentralized Cryptocurrency Exchange?
A decentralized cryptocurrency exchange (DEX) is a provider that doesn’t have a central control point. A DEX relies on liquidity pools offered by users instead of large liquidity investments provided by institutions. It uses an “automated market maker” protocol and doesn’t require a central trading desk or order book. A DEX doesn’t follow any rules from a regulatory authority. It is challenging to hack directly but has significant safety risks if misused. Trading on decentralized cryptocurrency exchanges risks losing your funds.
Are Cryptocurrencies Legal In Canada?
Yes, cryptocurrencies are legal and may be bought, sold, and traded.
Do Banks In Canada Accept Digital Coins?
Yes, the National Bank of Canada welcomes the cryptocurrency transformation and allows customers to invest in digital coins by using any of their financial services or products.
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Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.