Best Crypto Exchanges in Canada for 2025

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Adam Woodhead
Adam Woodhead

Adam Woodhead

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Adam is a Co-Founder and content creator for The Investors Centre. His key areas of interest and expertise are cryptocurrency and blockchain technology.

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Thomas Drury
Thomas Drury

Thomas Drury

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Seasoned finance professional with 10+ years' experience. Chartered status holder. Proficient in CFDs, ISAs, and crypto investing. Passionate about helping others achieve financial goals.

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Updated 04/01/2025

Quick Answer: What's the Best Crypto Exchange in Canada?

Kraken is the top choice for Canadians in 2025, offering high security, CAD support, and advanced trading tools. It’s ideal for beginners and experts alike, though fees may be higher for smaller trades. A reliable platform trusted globally for cryptocurrency trading.

Kraken logo purple

Featured Exchange - Kraken

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Here are the Top 7 Best Crypto Exchanges in Canada:

  1. Kraken – Top-rated for security and advanced tools.
  2. Coinbase – Great for beginners with a trusted reputation.
  3. Bitbuy – Canadian-based platform with low fees and fast verification.
  4. Crypto.com – Offers vast cryptocurrency options and cashback rewards.
  5. Wealthsimple – Simple interface and ideal for new users.
  6. CoinSmart – User-friendly, low fees, and tailored for Canadians.
  7. NDAX – Secure, competitive fees, and great for advanced traders.

Each of these platforms has unique advantages, from low fees to advanced trading tools. Our organisation has personally tried all of these exchanges and will share our honest opinions about their features and drawbacks in the sections below.

How Do These Exchanges Compare?

RankExchangeFeesSecurityUsabilityCAD SupportNotable Features
#1Kraken0.16%-0.26%HighBeginner & AdvancedYesAdvanced tools, futures trading, cold storage
#2Coinbase1.49%-3.99%HighBeginner-FriendlyNoTrusted brand, easy interface
#3Bitbuy0.10%-0.20%HighBeginner-FriendlyYesCanadian-based, low fees, fast verification
#4Crypto.com0.04%-0.40%HighBeginner & AdvancedYesCashback rewards, vast crypto selection
#5WealthsimpleSpread-based feesModerateVery SimpleYesFocused on simplicity, tax reporting features
#6CoinSmart0.20%-0.40%HighUser-FriendlyYesTailored for Canadians, low withdrawal fees
#7NDAX0.20%-0.40%HighAdvanced ToolsYesHigh liquidity, competitive fees

According to the BBC, the global cryptocurrency market surpassed a valuation of $3 trillion in 2021, with Canada contributing significantly. This growing adoption underscores the importance of platforms tailored to local needs.

7 Best Crypto Exchanges

Kraken logo purple

#1 Kraken - Advanced Features, High Security, Trusted Globally

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

When I started with Kraken, I was impressed by its robust security measures, including offline cold storage and two-factor authentication (2FA). For advanced traders like me, the platform’s futures trading and staking options were a huge plus.

What really stands out for Canadian users is Kraken’s compliance with international regulations and support for CAD deposits via bank transfers. The interface is intuitive, even for beginners, but what sealed the deal for me was its reliable mobile app. The main downside? The slightly higher fees for smaller trades.

Pros & Cons

  • Trading Fees: Kraken charges 0.16% for makers and 0.26% for takers, with discounts for high-volume trades.

  • Deposit Fees: Free CAD deposits are available via Interac e-Transfer; other methods may vary.

  • Withdrawal Fees: Fees are transparent and competitive, depending on the withdrawal method.

With over 185 cryptocurrencies, Kraken supports a wide range of assets.

Kraken uses offline cold storage for 95% of funds, alongside 2FA and encryption protocols.

coinbase logo

#2 Coinbase - Beginner-Friendly, Secure, Trusted Brand

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Coinbase was my first crypto exchange, and I’d recommend it to anyone just starting. Its simple interface and educational tools make crypto trading less intimidating. However, I found its fees on the higher side, which might not suit active traders.

Pros & Cons

  • Trading Fees: Coinbase charges 1.49% per trade, while card purchases can cost up to 3.99%.
  • Deposit Fees: Bank transfers are free, but card deposits incur higher fees.
  • Withdrawal Fees: Variable fees depending on the withdrawal method.

Coinbase provides access to over 240 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Advanced traders using Coinbase Pro can enjoy an even broader range of digital currencies and trading pairs to suit diverse strategies.

Coinbase is known for its exceptional security measures, such as two-factor authentication, data encryption, and cold storage for 98% of customer funds. For additional peace of mind, Coinbase Advanced extends the same protections and includes insurance coverage for assets held in hot wallets.

Bitbuy Logo

#3 Bitbuy - Canadian-Based, Low Fees, Easy to Use

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Pros & Cons

  • Trading Fees: Bitbuy offers 0.10% for makers and 0.20% for takers, with a transparent fee structure.
  • Deposit Fees: Free CAD deposits via Interac e-Transfer for amounts over $200.
  • Withdrawal Fees: CAD withdrawal fees are 1.50%, capped at $20.

Bitbuy offers 25+ cryptocurrencies, focusing on the most popular assets.

It has 95% cold storage, regular audits, and two-factor authentication.

crypto.com logo

#4 Crypto.com - Vast Cryptocurrency Selection, Rewards, Trusted Globally

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Crypto.com is one of the most versatile exchanges I’ve used. It’s perfect if you’re looking for a wide selection of cryptocurrencies and enjoy perks like cashback rewards on purchases made with their Visa card. I’ve found their staking options excellent for earning passive income, but the platform can feel overwhelming for beginners due to the sheer number of features.

Pros & Cons

  • Trading Fees: Fees start at 0.40% and decrease with higher volumes or staking CRO tokens.
  • Deposit Fees: Free CAD deposits via Interac e-Transfer or bank transfers.
  • Withdrawal Fees: Competitive rates depending on the withdrawal method.

With 250+ cryptocurrencies, including Bitcoin, Ethereum, and Cardano, the platform offers one of the largest selections.

Crypto.com employs cold storage for 100% of user funds, alongside insurance coverage and multi-factor authentication.

wealthsimple logo

#5 Wealthsimple - Simple Interface, Ideal for New Users

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Wealthsimple Crypto offers a straightforward, app-based experience that’s ideal for beginners. I’ve recommended it to friends who were overwhelmed by more complex exchanges. The platform integrates seamlessly with other Wealthsimple products, making it a convenient choice for Canadians managing multiple investments.

 

That said, I found the lack of advanced features limiting as I became more experienced, and the spread-based fees are higher than traditional exchanges.

Pros & Cons

  • Trading Fees: Wealthsimple applies a spread-based fee of 1.5% to 2% on trades.
  • Deposit Fees: Free CAD deposits via Interac e-Transfer or linked bank accounts.
  • Withdrawal Fees: No withdrawal fees for CAD withdrawals.

The platform supports 50+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Wealthsimple is regulated in Canada and uses cold storage and encryption to protect user funds.

coinsmart logo

#6 CoinSmart - User-Friendly, Low Fees, Tailored for Canadians

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

CoinSmart is an exchange I frequently recommend to fellow Canadians because of its low fees and intuitive design. It’s one of the few platforms that simplifies complex processes like depositing and withdrawing CAD. I found their verification process to be incredibly fast—under 24 hours.

However, advanced traders might find the limited selection of cryptocurrencies a drawback.

Pros & Cons

  • Trading Fees: CoinSmart charges 0.20% for single trades and 0.40% for double trades.
  • Deposit Fees: Free CAD deposits over $200; a 1.5% fee applies for smaller amounts.
  • Withdrawal Fees: Fixed 1% fee for CAD withdrawals.

CoinSmart supports 16+ cryptocurrencies, including Bitcoin, Ethereum, and Ripple.

CoinSmart complies with FINTRAC regulations and uses cold storage for most funds.

Ndax Logo

#7 NDAX - High Security, Competitive Fees, Advanced Tools

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

NDAX caught my attention with its high liquidity and competitive fees, making it a strong choice for experienced traders. I particularly liked the real-time order book, which provided a transparent trading experience.

For Canadians, NDAX offers seamless CAD support with bank deposits and withdrawals. My only criticism would be its relatively smaller range of supported cryptocurrencies compared to larger platforms.

Pros & Cons

  • What are the Fees?
    Trading Fees: NDAX has a flat fee of 0.20% per trade, regardless of volume.
  • Deposit Fees: Free CAD deposits via Interac e-Transfer or wire transfer.
  • Withdrawal Fees: Fixed CAD withdrawal fee of $4.99.

NDAX offers 30+ cryptocurrencies, including Bitcoin, Ethereum, and Chainlink.

NDAX prioritises safety with multi-signature wallets, 95% cold storage, and compliance with Canadian regulations.

What is a Crypto Exchange?

A crypto exchange is an online platform where users can buy, sell, and trade cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Think of it as a marketplace for digital currencies, where buyers and sellers meet to transact. These exchanges also act as custodians, helping you store your crypto assets securely.

Most exchanges allow trading between cryptocurrencies and fiat currencies like CAD, enabling Canadians to invest in digital assets directly from their bank accounts. Advanced exchanges also offer tools like margin trading and futures for experienced traders.

According to Statista, the global cryptocurrency trading volume reached $14 trillion in 2022, reflecting the increasing popularity of these platforms.

Why Use a Crypto Exchange in Canada?

Using a crypto exchange in Canada offers several unique benefits. Firstly, many platforms are regulated under Canadian laws, ensuring compliance and adding a layer of trust for users. Exchanges like Bitbuy and CoinSmart are specifically tailored for Canadian investors, offering localised features such as CAD deposits and withdrawals via Interac e-Transfer or bank transfers.

I’ve also found Canadian exchanges to be more transparent about tax reporting, making it easier to stay compliant with CRA regulations. This is particularly important since crypto gains are taxable in Canada. Additionally, choosing a local platform often means lower currency conversion fees and faster processing times for deposits and withdrawals.

For anyone in Canada, these platforms provide a seamless entry point into the crypto market, whether you’re a beginner or a seasoned trader.

Factors to Consider When Choosing a Crypto Exchange in Canada

Security

Security should always be your top priority. Look for platforms that offer cold storage, multi-factor authentication (2FA), and insurance against breaches. From my experience, exchanges like Kraken and NDAX excel in this area, giving me confidence when storing my funds.

Regulation

A regulated exchange ensures compliance with Canadian laws, providing peace of mind. FINTRAC-registered platforms like Bitbuy and CoinSmart adhere to strict anti-money laundering (AML) standards, which is a must for protecting your investments.

Fees

Fees can vary widely between exchanges, so it’s important to choose one that fits your trading style. For example, I prefer low trading fees like those offered by Bitbuy and NDAX. Be sure to compare deposit, withdrawal, and trading fees to avoid unnecessary costs.

User Experience

A platform’s usability can make or break your trading experience. Beginner-friendly platforms like Coinbase and Wealthsimple simplify crypto trading, while advanced exchanges like Kraken offer tools for experienced traders.

Market Variety

If you’re interested in exploring different cryptocurrencies, choose an exchange with a diverse selection of coins. Platforms like Crypto.com offer hundreds of options.

Customer Support

Good customer support is crucial, especially when things go wrong. I’ve had positive experiences with platforms offering 24/7 live chat, like Kraken and CoinSmart.

By considering these factors, you can find a crypto exchange that aligns with your trading goals while ensuring a safe, efficient, and user-friendly experience in Canada.

How Popular are the Top Crypto Exchanges in Canada?

The popularity of crypto exchanges in Canada has grown significantly, with platforms like Bitbuy and CoinSmart gaining traction due to their localised features and CAD support. Kraken and Coinbase remain top choices for their global reputation and advanced trading tools, but Canadian-specific platforms are catching up.

Data shows that Bitbuy has over 400,000 registered users, a testament to its focus on security and transparency. Similarly, Crypto.com is favoured for its cashback rewards and diverse cryptocurrency selection.

Additional Considerations for Canadian Users

Taxes:

Crypto trading gains in Canada are subject to taxation as either capital gains or business income, depending on trading activity.

Regulation:

Canadian exchanges are required to register with FINTRAC, ensuring compliance with anti-money laundering (AML) laws.

Conclusion

Choosing the right crypto exchange is essential for maximising returns and safeguarding investments. Platforms like Kraken, CoinSmart, and Bitbuy offer Canadian-specific features, making them ideal for local users.

From my experience, factors like security, fees, and usability should guide your decision. Take the time to research and pick a platform that aligns with your needs.

FAQs

Coinbase and Wealthsimple are great for beginners due to their simple interfaces and educational tools.

Yes, platforms like Bitbuy and CoinSmart are FINTRAC-registered, ensuring compliance with Canadian laws.

Fees vary, but expect 0.10%-0.40% trading fees on platforms like Bitbuy and Kraken.

 Yes, exchanges like Kraken and NDAX use cold storage and 2FA for added security.

Absolutely! Most Canadian exchanges like Bitbuy and NDAX support CAD deposits and withdrawals.

References:

  1. Statista: “Percentage of Canadians Owning Cryptocurrencies in 2022” – www.statista.com
  2. BBC: “The Rise of Cryptocurrencies Globally and Their Market Valuation” – www.bbc.com
  3. Bank of Canada: “Survey on Canadians’ Preferences for Regulated Crypto Platforms” – www.bankofcanada.ca

Our #1 Rated Crypto Exchange

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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