Best bitcoin exchange in canada

January 3, Cryptocurrencies have boomed in popularity in the last few years, and many Canadians are looking to get some crypto of their own but aren't sure where to start. There are many options available, and some may be scams that are out to steal your money, so you need to ensure you choose a legitimate platform. We looked at a range of factors including user-friendliness for beginners, fees, ease of fiat purchases, selection of cryptocurrencies available, and advanced trading features to select one that stands out for each category. Please note, this is not an exhaustive list of all cryptocurrency exchanges available in Canada. There may be some exchanges that are better suited for certain currencies or situations, depending on your own circumstances.

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Content:

• How it works
• Bitcoin (BTC) trading volume in 44 countries worldwide in 2020
• Best Overall
• A safe and regulated place to buy Bitcoin and Ethereum in Canada
• Cryptocurrency
• Compare cryptocurrency exchanges
• Best Crypto Exchanges in Canada
• The Safest Way To Buy and Sell Bitcoin in Canada.
• 15 Bitcoin ETFs and Cryptocurrency Funds You Should Know
• Best Bitcoin Brokers 2022

WATCH RELATED VIDEO: Best and Worst Crypto Exchanges Canada (NDAX, Newton, Shakepay, Bitbuy, Binance, and more)

How it works

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content. Some exchanges may be better for some situations and currencies. To come to these choices we compared dozens of cryptocurrency exchanges on a variety of factors, including but not limited to user-experience, fees, payment methods and selection of cryptocurrencies.

Naming the best Canadian crypto exchange depends on your situation. In our opinion, here are the best crypto exchanges in Canada:. Determining your cryptocurrency exchange needs will help you find the best crypto exchange for you. Consider the following when determining the best crypto exchange in Canada for you:.

Bitbuy is an all-Canadian easy-to-use exchange, offering people of all skill levels the chance to buy, sell and trade popular cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin. Read review. When making a deposit on CoinSmart you can use Interac e-Transfers, credit card, debit card, bank drafts and bank wire payments. First-time users will need to go through the verification process, but this only takes a few minutes.

Most payments are processed on the same day, while card payments are available in your account instantly. CAD withdrawals can be made directly to your bank account. Warning: The KuCoin domain has reportedly been locked in Singapore, and the company is reportedly facing legal challenges as it goes through a restructuring process. If you use KuCoin, it may be safest not to leave any cryptocurrency on the exchange longer than necessary.

Bitfinex has one of the most liquid cryptocurrency markets out of all exchanges, allowing you to buy, sell and trade over different coins. Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase.

However, using an exchange for long-term storage is not recommended. And with exchanges regularly, and sometimes successfully, targeted by hackers, storing crypto on an exchange long-term is very risky.

Learn more about cryptocurrency wallets. With hundreds of exchanges to choose from, how can you find the best cryptocurrency exchange for your needs? The most important thing to do is to research a wide range of platforms and compare the pros and cons of each option.

On the other hand, experienced traders may want a platform with special features like advanced charting and order types as well as the option to trade on margin. The more payment options an exchange has , the more convenient it will generally be to use. Make sure your exchange has deposit and withdrawal options that work for you, and remember to check the fees associated with different methods.

First, consider the type of trades you want to place. There are exchanges available that offer the following :. Consider which currencies you want to trade and which platforms list those currencies in one or more trading pairs:.

From deposit through to trading and then withdrawing funds, how much will it cost you to buy and sell crypto on each platform from start to finish? Remember to consider your payment method, the currencies you want to use and any discounts you may be entitled to when completing these calculations.

Are there any limits on the amount you can deposit into your account or the amount of cryptocurrency you can buy or sell per transaction or per day? Also check whether there are any restrictions on how much you can withdraw from your account.

Remember, minimum and maximum limits may apply, so check the fine print to be sure the platform is a good fit for the size of trades you want to place. How can you access your trading account? Many platforms offer web browser trading only, but some also offer mobile and even desktop trading apps.

Is there any way you can access reduced trading fees? Is there a tiered fee structure that rewards high-volume traders with reduced fees? Compare exchange rates across a handful of different crypto exchanges and you might be surprised to find just how much they can differ from one platform to the next. The level of liquidity on an exchange affects the ease and speed with which you can complete trades.

One of the biggest benefits of trading on larger crypto exchanges is that they get enough orders to be able to match buyers and sellers without any difficulty. However, low liquidity can lead to substantial price fluctuations. If privacy is important to you when trading cryptocurrency, there are some platforms that allow you to transact anonymously.

Many other platforms will require you to verify your account before allowing you to trade. Verification requirements vary between exchanges, but you may need to provide some or all of the following:. Finally, be aware that some exchanges will require you to complete additional verification tasks in order to unlock full account features and higher transaction limits.

How long will it take for your transaction to be completed? How soon are account withdrawals processed? Being forced to miss out on a trading opportunity because your trading funds took too long to arrive into your exchange account can be a frustrating experience. Spending day after day waiting for a withdrawal to arrive in your bank account or crypto wallet can also be extremely stressful, so check average processing times before you register.

Security is a crucial factor to consider when choosing a crypto exchange. History is littered with many famous examples of exchanges being hacked and unsuspecting users falling victim to theft and fraud, so make sure you do your research into what security measures are in place to protect your funds.

Questions you should ask include the following:. Though authorities around the world are starting to catch up to the rapid growth of crypto exchanges, the industry as a whole is still lightly regulated. How an exchange is regulated depends on where it is based, so do your research to find out whatever information you can about the platform operators.

Currently, there is minimal regulation when it comes to Canadian cryptocurrency exchange operators. As always, check the fine print to find out whether any of these geographical restrictions apply to you. This is a crucial but often overlooked factor when comparing crypto exchanges. Use our table to quickly compare crypto exchanges on fees, fiat currencies, deposit methods and more.

Bitcoin exchanges accept all sorts of deposit methods, including the following:. Cryptocurrency brokers often offer the simplest and most convenient way to buy cryptocurrency. Buying Bitcoin or any altcoin from a broker is essentially like purchasing from a cryptocurrency shop — the broker buys digital coins or tokens at wholesale rates, adds their own margin on top and then sells the currency on to you.

Brokers offer a quick and straightforward entry into the world of cryptocurrency. Their platforms are designed to be easy to use and you can pay for your crypto purchase with your everyday fiat currency, often even by using a credit or debit card.

Cryptocurrency trading platforms are the most widely used platforms for buying and selling digital currency. They connect crypto buyers with crypto sellers and take a fee for facilitating each transaction. You can use these platforms to exchange cryptos at the current market rate or at a specified limit, while some sites also offer more advanced features like stop-loss orders.

Crypto trading platforms tend to provide access to a more diverse range of currencies than brokers, and often feature charting tools to help you plan your trades. These platforms also tend to offer lower fees and better exchange rates when compared with brokers. Bitcoin and Ether are the most commonly traded currencies and feature in pairs alongside a wide range of altcoins.

Crypto trading platforms can also be intimidating and confusing for new users. These platforms allow direct peer-to-peer trading between people all around the world. The exchange acts as the middleman, with the seller able to set their own price and accepted payment methods.

The main advantage of peer-to-peer exchanges is that they let you quickly and anonymously buy or sell coins with almost any kind of trade or payment method you want. To help offset the risks, some platforms have built-in escrow features and reputation systems to identify reliable and legitimate buyers and sellers. Many but not all peer-to-peer exchanges can also be decentralized.

Decentralized exchanges DEXs are hosted on a network of distributed nodes and allow you to trade cryptocurrency directly with other users. And because trades are executed using smart contracts, you can trade straight from your wallet. Find out more in our comprehensive guide to DEXs. Not all crypto exchanges are created equal, and not all crypto buyers and sellers have the same trading needs.

Check out our reviews on a range of leading cryptocurrency exchanges in Canada and around the world. Compare the features, fees and pros and cons of each Bitcoin exchange and consider how they align with your trading requirements. Compare cryptocurrency exchanges. Download cryptocurrency statistics PDF. The list of currencies available varies widely from one exchange to the next.

Some Bitcoin exchanges will only offer Bitcoin or a select few currencies while others support hundreds, but there's no guarantee that all the cryptos you want to buy and sell will be available on any one platform. While regulators are gradually implementing laws and guidelines to help protect consumers against fraud, there are still plenty of sketchy exchange operators out there.

Falling victim to theft is a major concern for any crypto buyer. Read our guide to cryptocurrency scams for a checklist to help you avoid falling victim to fake or disreputable exchanges. You may want to consider using the services of an over-the-counter OTC broker in order to avoid slippage.

Check out our guide to OTC services for more details. Take a look at our cryptocurrency margin trading guide for more information. You can view hour trading volume for crypto exchanges on sites like CoinMarketCap. In order to comply with these regulations, exchange operators must gather certain details about their customers — which is why you may be asked to provide proof of ID.

This process is typically referred to as "know your customer" or KYC. You can buy Bitcoin on any crypto exchange in Canada. The best one depends on your situation as we explained above. To help you choose the best one, consider the following:.

Bitcoin (BTC) trading volume in 44 countries worldwide in 2020

Crypto-friendly banks are forward-looking financial entities that accept cryptocurrency as medium of monetary trade. These banks allow customers to access lower transaction fees for moving back and forth between cryptos and traditional currencies. This kind of crypto-friendly bank integrates cryptocurrencies and traditional bank operations simultaneously. BankProv is one of the best crypto-friendly banks that offers full-service USD banking products for crypto natives and related businesses. The 10th oldest bank in the US, BankProv recently entered into the crypto space and offers fully-insured USD backing solutions for crypto businesses, custom API banking solutions, secure cash vault services for BTM operators, and crypto-backed loans.

Best Overall

The best crypto trading apps and platforms in Canada make it easy to buy and sell cryptocurrency online from the comfort of your home. While the world of cryptocurrencies is still largely shrouded in mystery and legitimate skepticism, it appears the tide is turning. Everyday investors, as well as institutional investors, are beginning to add Bitcoin and alternative coins to their investment portfolios. We have seen big drops in crypto values over the last couple of months. Are you looking to buy and sell cryptocurrencies like Bitcoin in Canada? We cover some of the best cryptocurrency trading apps and platforms you can use. A cryptocurrency is a digital currency that is acceptable between various parties as a means of exchange, and it is secured using cryptography. The most popular cryptocurrency is Bitcoin, followed by Ethereum. The hype for the trading of cryptocurrency is high, however, you should tread with caution as cryptocurrencies have no intrinsic value other than the faith placed in them by users. There are several ways to buy and sell cryptocurrencies in Canada.

A safe and regulated place to buy Bitcoin and Ethereum in Canada

Located in the heart of Toronto's financial district, Bitbuy is the leading Canadian cryptocurrency platform and also the only Canadian exchange to offer Bitcoin insurance. Bitbuy is suited for both beginners with their 'Express Trade' feature and more advanced traders with their 'Pro Trade' feature. Bitbuy also has an OTC desk available for those wanting to invest large amounts as well as for corporations to get into Bitcoin.. Bitbuy ensures its users' cybersecurity by leveraging advanced technologies and best practices like 2FA authentication, regulatory and SOC compliance, a strong in-app wallet, and regular proof-of-reserve audits.

Cryptocurrency

Home » Guides » Beginners. Rajarshi Mitra. Canadians have always loved Bitcoin , and have been one of the most eager populations to invest, trade and get their hands on Bitcoin. Canadians are lucky to have many options and payment methods to buy Bitcoin. We also focus on speed, for the user who has no time to waste.

Compare cryptocurrency exchanges

Call us: While TD Ameritrade doesn't offer trading in individual cryptocurrencies, we do provide numerous ways to get exposure to the cryptocurrency market — no crypto wallet required. Virtual currencies, including bitcoin, experience significant price volatility. Fluctuations in the underlying virtual currency's value between the time you place a trade for a virtual currency futures contract and the time you attempt to liquidate it will affect the value of your futures contract and the potential profit and losses related to it. Investors must be very cautious and monitor any investment that they make. Carefully consider the investment objectives, risks, charges and expenses before investing.

Best Crypto Exchanges in Canada

By Andrew Boyd Updated 31st January At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.

The Safest Way To Buy and Sell Bitcoin in Canada.

Bridget Casey. When it comes to buying and selling cryptocurrency, Canadians have more choices than ever. First, what coins you want to buy and how much money do you plan to invest? Active traders will need a robust and reliable platform that provides real-time cryptocurrency price charts that let them execute trades quickly.

15 Bitcoin ETFs and Cryptocurrency Funds You Should Know

Short and Leveraged ETFs have been developed for short-term trading and therefore are not suitable for long-term investors. Before you decide on investing in a product like this, make sure that you have understood how the index is calculated. Be aware that for holding periods longer than one day, the expected and the actual return can very significantly. All return figures are including dividends as of month end. Besides the return the reference date on which you conduct the comparison is important. In order to find the best ETFs, you can also perform a chart comparison.

Best Bitcoin Brokers 2022

The increased excitement around cryptocurrencies is caused by the high popularity of bitcoin. It is recognized by many as a full-fledged settlement instrument. This is a virtual currency.