Canada’s crypto landscape features a fleet of exchanges that compete on fees, security, and regulatory compliance. This article reviews ten leading Canadian platforms, highlighting how each operator balances cost with safety for retail and institutional traders. Crypto.com emphasizes CRO-based rebates, staking yields, and a broad product set, while Bitbuy markets itself as the oldest fully regulated platform with strong custody and OTC capabilities. Coinbase stands out for its US-dollar-centric rewards and global scale, alongside robust security and advanced trading tools.
Wealthsimple is an all-in-one ecosystem offering crypto trading, robo-advisory services, and other financial products. It is registered as an MSB with FINTRAC and regulated by the Canadian Investment Regulatory Organization (CIRO). Crypto trading: Wealthsimple enables buy/sell for 140+ coins; supports low-cost swaps between eligible assets. Robo advisory integration: Automatic investment portfolios and tax-efficient strategies are part of the platform.
Staking: Earns up to around 9% APY on selected assets. Security: Custodians maintain cold storage coverage; hot wallets are insured; strong security practices. Fees: Core plan includes commission-free stock trading; Premium and Generation plans add management fees; crypto trading fees as low as 0.05%. Pros: Simple UI; strong insurance coverage; no crypto trading fees in CAD on some plans; beginner-friendly; institutional services via Wealth clients.
Kraken Pro provides a robust platform for advanced traders in Canada. While Kraken is US-based, it is registered in Canada as Payward Canada Inc. and FINTRAC MSB; some regions allow OSC-restricted dealer status. Key features include wide asset selection (630+ assets), staking with up to ~24% APY, futures trading (300+ perpetuals), and margin trading with substantial leverage. Fees: Spot trading 0.25% maker (0.23% for some pairs) and 0.40% taker; USDG futures have different rates.
NDAX is a Canada-only exchange catering to both beginners and advanced traders. It is registered with FINTRAC, Revenue Quebec, and CIRO; claims SOC2 Type II certification. Key features include multiple order types (limit, stop, trailing-stop, IOC, reserved), Auto Invest (DCA), and institutional-grade security with MPC hot wallets and cold storage. Auto Invest uses DCA to automate purchases; offers live market data, customizable charts, and advanced order books.
Newton focuses on Canada-based trading with low fees and a streamlined experience. It buys and sells directly to users; registered with FINTRAC, CIRO, and CSA. Key features include 60+ coins, portfolio trackers, price alerts, and monthly statements; staking available on select tokens. Fiat deposits/withdrawals via Interac and EFT are free; wire transfers carry a fee.
VirgoCX offers a strong API-focused experience for traders and developers. It is a non-custodial Canadian exchange registered as an MSB with FINTRAC and compliant with PIPEDA. Features include API trading for automation, recurring buys, and a focus on accessible CAD/USD trading. Fees include a 0.95% spread for BTC/ETH and 1.60% for other cryptos; deposit fees are free; withdrawal fees depend on asset.
Shakepay specializes in Bitcoin trading with a focus on simple, fast purchases. It is registered with FINTRAC as an MSB and regulated by CIRO in provinces. Key features include a Visa prepaid card with up to 1.5% BTC cashback on purchases; Shakepay Blue offers higher rewards; insured cold storage and multi-layer security. Fees and spreads: 0.50%–2% spread; liquidity constraints may add up to 1.5% additional spread.
Coinsquare is a CIRO-regulated Canadian exchange with a long-running presence in the market. It is partnered with custodians like Bitgo and backed by substantial insurance; supports 50+ coins and 1,300+ trading pairs. Features include Coinsquare Trade for spot trading, Wealth for personalized services, and an OTC trading desk; staking offers up to 13.43% rewards; Alpha for VIPs and institutions. Fees include maker/taker 0.50%; OTC spreads between 0.50%–2%; crypto/cad withdrawal fees vary; staking rewards up to around 30% (subject to validators/custodians).
How to choose the best crypto exchange in Canada? Trading fees, user interface, supported cryptocurrencies, security standards, regulatory compliance, and customer support are common criteria used by reviewers and users. Understanding cryptocurrency regulations in Canada highlights that exchanges must adhere to securities laws and AML/CFT obligations, with enforcement actions against platforms that fail to register or meet requirements. Canada also has tax considerations for crypto activities, including business income vs. capital gains treatment, and certain exemptions for transfers between wallets and holding long-term hodling.
How to buy crypto in Canada involves selecting a licensed exchange, verifying identity, funding the account, and making the desired purchase. Banks’ guidance and CRA rules shape how Canadians report crypto activities for tax purposes and the treatment of gains, losses, and exemptions.
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