Best Crypto Exchanges In Canada

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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 6 Best Crypto Exchanges In Canada

  1. Crypto.com – Best crypto exchange in Canada. Excellent portfolio and trading app.
  2. Binance – Well-established cryptocurrency trading platform with large trading volumes and liquidity.
  3. Coinbase Great trading platform and low trading fees.
  4. Gemini In-house hot wallet, access to different coins and deposit methods.
  5. CEX IO – Great assets coverage and crypto margin trading.
  6. Capital.com – Discount broker to buy and sell cryptos. Great educational content and resources.

Best Crypto Exchange In Canada – List

ExchangeOverall ScoreGeneral infoFees (Maker/Taker)Spot Volume (BTC)
#1Crypto.com4.3Excellent portfolio and trading app1.8%/2.75%$68,571
#2Binance4.3Best altcoin portfolio0.1% /0.1%$806,899,070
#3Coinbase4.4Best crypto trading platform1.99%/1.99%$451,706,550
#4Gemini4.5In-house hot wallet, access to different coins0.01%/0.00%$808,571
#5CEX IO4.6Most asset classes0.01%/0.00%$808,571
#6Capital.com4.7Great educational content and resources0.16%/0.26%$45,734,111

This section below breaks down the best crypto trading platforms in Canada, beginning with the highest-rated Crypto.com.

01. Crypto.com: Best Overall Crypto Exchange Platform In Canada 

crypto.com-rating

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. 


02. Binance: Best Altcoin Portfolio In Canada 

Binance-crypto-exchange

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. 


03. Coinbase: Best Exchange Platform With Fast Trade Execution 

coinbase-cryptocurrency-exchange

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. 


04. Gemini: Best Exchange With An In-House Hot Wallet 

gemini-rating

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. 


05. CEX IO: Best Exchange With A Fast Mobile App 

cex-io-exchange-logo

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. 


06. Capital.com: Best Exchange Platform With Valuable Learning Tools 

capital-com-rating

Capital.com is a top brokerage firm with access to an exchange platform. It has top-tier licenses from the FCA, FSA, CySEC, and ASIC. Capital.com uses industry-leading safety protocols for its platforms. 

This broker offers valuable learning tools and resources. Capital.com has many asset classes, including CFDs on cryptos, stocks, and forex pairs. It provides a versatile mobile app and powerful day trading services. Capital.com has a low minimum deposit of $20. 


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. 


Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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.75% 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. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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