7 Best Cryptocurrency Exchanges for Canadians

7 Best Cryptocurrency Exchanges for Canadians

By DonairFinance | FaucetGang | 6 Jul 2021


In Canada, there are numerous trustworthy crypto exchanges accessible for occupants to buy, swap, and sell advanced resources. It tends to be a troublesome errand for amateurs to discover an exchange that is the right fit with such countless choices. I have evaluated 70+ crypto exchanges and will list my top of the line cryptocurrency choices in Canada so you can settle on an educated choice.

 

Here are the best Canadian exchanges to buy Bitcoin and cryptocurrencies for 2021.

  1. Coinbase (best for reputation)
  2. Binance (best for low fees)
  3. Kraken (best for bank transfer) 
  4. Crypto.com (best for VISA card)
  5. BitBuy (best for insurance)
  6. CEX.IO (best for credit card)
  7. NDAX (best for zero deposit fees)

 

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Coinbase

 

Coinbase is an American exchange that is well-known for providing a simple, reliable and easy-to-use platform that is suited for beginners. The exchange is used by over 30 million individuals and institutions worldwide and supports investors located in Canada to buy digital assets such as Bitcoin to Ethereum XRP, Litecoin, Bitcoin Cash and many others.

 

Binance

 

Binance is the largest crypto exchange in the world for buying, trading and selling digital currencies. In terms of trading volume and liquidity, Binance is ranked #1 which allows the platform to offer competitive spreads and low trading fees to swap coins. The exchange supports residents in the US to buy, trade and sell cryptocurrencies using US Dollars. Binance has recently announced Canadians can use the exchange to deposit and withdraw USD to local banks in Canada using SWIFT Transfers. Binance does not support bank transfer or Interac e-Transfer using CAD from a local bank account. This may be a limitation for individuals that want to buy Bitcoin or crypto with CAD, however, there are plenty of features and benefits on the platform once funds have arrived or transferred from another provider.

 

Kraken

 

Kraken is a Bitcoin and cryptocurrency exchange that was founded in 2011 that is recommended for trading. The platform is a top 5 exchange based on traffic, liquidity and spot trading volume according to coinmarketcap. Kraken Exchange has over 70 crypto pairs to buy, trade and sell with new assets added frequently. Users can trade crypto and traditional markets such as Forex pairs like the EUR/USD. Since its inception to the market, Kraken has become a leading exchange with a high reputation for ease of use, safety and competitive pricing. The platform is suited for experienced crypto investors to make quick fiat deposits and withdrawals, visualize portfolio performance and track all digital assets in a single location.

 

Crypto.Com

 

With over 10 million customers worldwide, Crypto.com a premium cryptocurrency exchange and trading app. The Crypto.com app is an all-in-one platform to buy, sell, trade, spend, store, earn, loan cash and even pay bills with crypto. 

There is the option to buy crypto using a credit card for Canadians, however, the current banks are not crypto-friendly and have been reports of blocked transactions. An alternative is to use a debit card on the Crypto.com app or use e-transfer through a local bank account that supports Autodeposit.

 

BitBuy

 

BitBuy is a locally owned and operated cryptocurrency exchange that was established in 2016 and is regulated by FINTRAC, an entity of the Federal Government of Canada. The platform offers a reliable, convenient and secure way to buy Bitcoin and other cryptocurrencies and was ranked among the fastest-growing Canadian companies last year.

BitBuy is one of the few exchanges that offer a 1 to 1 insurance on Bitcoin holdings stored in their offline vault, protected by an insurance policy. Customers can have peace of mind when using Bitbuy that their funds are protected by value-matched insurance.

Bitbuy is available to customers that reside in Canada only. The exchange is limited to deposits in Canadian dollar (CAD) deposits coming from Canadian banks and/or financial institutions. The exchange does not support payments in US Dollars, Euros or British Pounds.

 

CEX.IO

 

CEX.IO is a large UK-based crypto exchange to buy Bitcoins instantly using its website or mobile app. CEX.IO is considered to be one of the best crypto exchanges in the world to buy Bitcoin, Dash, XRP, Stellar and others with Canadian dollars. The exchange supports a wide variety of deposit methods including credit cards, debit cards, bank transfers, Skrill and more. 

For Canadians, the best method to deposit CAD is using a VISA or Mastercard. CEX.IO is also one of the few exchanges in the world that lets customers sell coins instantly withdraw fiat profits to a VISA or Mastercard or CEX.IO balance

 

NDAX.IO

 

NDAX.IO, or otherwise known as the National Digital Asset Exchange, is a local cryptocurrency trading exchange based in the province of Alberta. The exchange allows residents within Canada to buy, trade and sell 13 crypto's such as Bitcoin, Ethereum, Dogecoin and others. NDAX.IO has been designed for beginners with its easy-to-use platform and offers a variety of features such as same-day CAD deposit and withdrawals, low trading fees, a mobile trading app, OTC desk and tools to track and manage a crypto portfolio.

NDAX is one of the most secure cryptocurrency exchanges in Canada and has joined forces with Ledger Vault, an institutional-grade computerized resource security answer for bring the most elevated level of assurance. Client's resources are put away in a-list multi-signature cold stockpiling wallets or Canadian Crown-claimed bank in isolated records. Since its dispatch, NDAX has never been hacked or compromised, not at all like many other exchanges.

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To finish up my article on the best cryptocurrency exchanges in Canada, it is prescribed to stay with the mainstream and legitimate exchanges on offer to Canadian residents. Similarly as significant, the exchange ought to acknowledge CAD to stay away from unfamiliar transformation expenses and be controlled by FINTRAC regulations. The above crypto exchanges are dependable and utilized by a great many clients worldwide to purchase, exchange and sell cryptocurrency.

 

In case you're are wanting to purchase and exchange digital currencies, make a point to pull out your benefits to a respectable crypto wallet for safety's sake. It is generally viewed as the best technique to secure your crypto speculation

 

Thanks for reading, and happy trading!

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