9 Best Crypto Exchanges in Canada [2021]

There has been rising curiosity in the worth and use of cryptocurrencies throughout the globe. Many individuals are researching methods to purchase cryptocurrencies, and doing so through a crypto alternate is probably the most handy choice.

The similar state of affairs is true in Canada. Before wanting into the most effective Canadian cryptocurrency exchanges, let’s have a look at the authorized standing of cryptocurrencies in Canada. 

Is Buying Cryptocurrencies Legal In Canada?

Cryptocurrencies aren’t thought-about authorized tender in Canada. According to the Currency Act in Canada, authorized tender is outlined as payments issued underneath the authority of the Bank of Canada and cash issued underneath the legal guidelines of the Royal Canadian Mint Act.

Digital cash aren’t backed up by necessary jurisdictions just like the Bank of Canada or by the federal government. 

However, with that being mentioned, it’s authorized to purchase, promote, or maintain cryptocurrencies in Canada. If a person chooses to commerce in any one of many platforms talked about under, it’s tremendous so long as they’ll bear the danger. 

To purchase cryptocurrencies, a easy go to to any one of many exchanges under will suffice.  

Top Crypto Exchanges In Canada

1. Coinsquare

Coinsquare goals to make use of blockchain know-how to construct a managed monetary platform for the whole world. It is without doubt one of the largest cryptocurrency exchanges in Canada and is the go-to choice for a lot of Canadians.

The firm launched a mining enterprise arm and a capital markets part, each concentrating on high-net-worth people and establishments. 

The cash supplied on this alternate are:

  • BTC

  • ETH

  • ETC

  • BAB

  • BSV

  • LTC

  • Doge 

  • XLM

  • Dash

  • XRP

Coinsmart permits funds to be deposited through Interac e-transfer, financial institution wire, Bitcoin, or Ethereum and are normally processed in sooner or later. In phrases of withdrawals, there are two out there choices, both via a wire or a financial institution switch. 

Features:

  • Convenient buying and selling via the app

  • Fees: 0.1%-0.2% (Bit Markets), 0.2%-0.4% (Quick Trade)

  • Intelligently designed interface

  • Registered with FINTRAC

2. Wealthsimple Crypto

What began as a robo-advisor, Wealthsimple launched a cryptocurrency alternate facility in August 2020 and now permits for over 18 cash for customers to commerce. It is believed to be one of many best bitcoin purposes for novices due to its neat and easy user-friendly format.

Funding choices are solely out there in Canadian {dollars} for the time being through financial institution switch.

All cash are held by Gemini Trust Company LLC with $200 million insurance coverage protection.

Features:

  • Trade made straightforward with the app

  • No minimal deposits required for account opening

  • No deposit and withdrawal charges inside your Crypto account

  • Fees: 1.5%-2%

  • Vast instructional sources

3. Coinbase

Founded in 2012, Coinbase is one other web site the place Canadians can alternate cryptocurrencies. Being one of many largest cryptocurrency exchanges in the US, Coinbase has complete safety features, a wide range of cash, and a low minimal commerce quantity.

Deposits may be made via Paypal and debit playing cards. There is a library of instructional materials for merchants to consult with for added information.

Features:

  • Selection of over 25 digital cash

  • User-friendly interface

  • High liquidity

  • Suitable for novices and superior merchants

  • Customer help help is obtainable through name or electronic mail. 

4. Bitvo

Regulated and managed by banking and safety professionals, Bitvo is without doubt one of the main cryptocurrencies exchanges in Canada. Founded by a staff of ex-financial specialists, they’ve integrated an attention-grabbing characteristic on this web site – the Same-Day Guarantee service.

Bitvo ensures these 4 objects:

  • On-the-spot account registration

  • 24/7 buyer help

  • Funding processed on the identical day

  • Withdrawals processed on the identical day

Partnered with Pateno Payments Inc, Bitvo has launched the Bitvo Cash Card, the place customers can use the cardboard with any service provider throughout the globe that accepts a Visa or Plus.

Features:

  • Deposits may be made through Interac e-transfer, wire switch, or Canada Post Load

  • Zero trading fees

  • 1% withdrawal price 

5. Kraken

Kraken’s huge choice of cryptocurrency, excellent safety, and reasonably priced buying and selling prices makes it a superb different for brand new and skilled cryptocurrency merchants.

Deposits may be made via wire switch and Etana Custody. Staking is obtainable on Kraken, the place customers can curiosity from their cryptocurrency deposits. The reward is then paid a few instances every week in the currencies deposited.  

This alternate has 5 price schedules the place the maker-taker mannequin is carried out on 4 of those schedules:

Features:

6. Crypto.com

With over 10 million customers, it’s protected to say that Crypto.com is a favourite cryptocurrency alternate for Canadians. Users can commerce, purchase, promote, maintain, pay payments, earn money, and even mortgage money with this web site. 

Funding choices are through debit card and on-line switch. This web site is an effective match for traders of all expertise ranges. Among the providers supplied in this ecosystem are :

  • Crypto Earn

  • Crypto Credit Card

  • Crypto Exchange

  • Crypto DeFi Swap

Features:

  • Over 100 cryptocurrencies out there for alternate

  • Earn excessive curiosity on crypto holdings 

  • Easy-to-use interface, an all-in-one cryptocurrency web site

  • Fees range based mostly on the user’s level, starting from 0.09% – 0.4%

7. BitBuy Canada

Founded in 2013, Bitbuy provides the chance to commerce for each novices and superior customers. This web site is legally registered with the Financial Transactions and Report Analysis Centre of Canada (FINTRAC), and there are 9 cash out there for alternate on this web site:

  • Bitcoin

  • Ether

  • Litecoin

  • Ripple

  • Bitcoin Cash

  • EOS

  • AAVE

Albeit a restricted choice of cash, merchants can commerce the cash through the Pro Trade and Express Trade choice on the positioning. Users could make a deposit through Interac e-transfer or wire switch. Charges range relying on the platform used. 

Features :

  • User-friendly platform

  • Fees: 1.5% for Interac e-Transfer and 0.5% for wire switch. 

  • Maker-taker mannequin used for buying and selling facility

  • OTC orders for a big deposit

  • Offers 1:1 BTC insurance coverage

8. Coinsmart

Coinsmart goals to make cryptocurrency out there for all Canadians regardless of their expertise. This alternate makes buying and selling easy with its dependable 24/7 customer support, clear buying and selling interface, and on-line studying services. 

Deposits may be made through debit or bank card, financial institution wire, and e-transfer. There are at present ten completely different cryptocurrencies out there for commerce on this web site.

Coinsmart has a Smart Guarantee characteristic that enables:

  • All deposits attain the account on the identical day it’s transferred

  • Five enterprise days to course of all Fiat withdrawals

  • Same-day account verification 

Features:

9. Gemini

(*9*)

 

Having featured in publications like Wall Street Journal and The New York Times, Gemini is without doubt one of the main cryptocurrency alternate platforms globally. 

There are three key components to this web site:

Gemini alternate is the place customers should purchase, promote, and maintain over 40 variations of cryptocurrencies. With Gemini earn, customers can earn as much as 7.4% compounded curiosity on their cryptocurrency deposits. Users have the liberty to maneuver their earnings into the buying and selling account at their comfort.

Gemini bank card permits customers to earn rewards in phrases of cryptocurrency each time they swipe the cardboard. 

Features:

  • Simple and superior interface out there to go well with completely different courses of traders

  • Learning hub 

  • Fees range relying on the schedule chosen

  • OTC peer-to-peer crypto lending

  • Customer service is obtainable through electronic mail

Wrapping It Up

Whether you’re a new dealer or a seasoned one, there’s a method so that you can commerce cryptocurrencies in Canada. Finding a protected cryptocurrency alternate can get sophisticated, however there’s something for each dealer on the market. Take what matches and discard what doesn’t. Happy buying and selling!

Regiena Regunathan

Regiena Regunathan

Regiena is a banker, an avid reader, and part-time freelance author, at present exploring the realm of blockchain applied sciences.

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