With Canada’s crypto market projected to hit CAD 941.6 million in 2024, now is an exciting time to dive into trading. However, selecting the right exchange can be a challenge. In this guide, we break down the top crypto exchanges in Canada, covering key aspects like features, fees, supported cryptocurrencies, and more.
Kraken
Kraken has solidified its position as a top crypto exchange in Canada, having acquired CoinSetter and CaVirtEx in 2016. With over CAD 2 billion in client assets under management by 2024, it remains a trusted platform. It supports 200+ cryptocurrencies, including Bitcoin, Ethereum, and various altcoins.
Canadians benefit from easy CAD deposits and withdrawals via Interac e-Transfers, with fees as low as 0.25%. Kraken also offers CAD trading pairs, making it a flexible option for local traders. Another outstanding aspect of Kraken is that, unlike renowned exchanges such as Coinbase, Kraken supports crypto gambling transactions. This means you can fund your crypto casino account via Kraken without worrying about getting penalized. This platform also supports many coins you might find at casinos online, including BTC, ETH, LTC, DOGE, XRP, and more.
Security is a core focus, with advanced protective measures such as cold wallet storage and two-factor authentication. The platform’s 24/7 customer support caters specifically to Canadian users, ensuring smooth trading experiences.
Bitget
For Canadians seeking a feature-rich and cost-effective crypto exchange, Bitget stands out. Supporting over 700 cryptocurrencies, it allows CAD deposits via credit or debit cards, making transactions smooth. With a flat trading fee of just 0.1%, Bitget is among the most affordable platforms, and its native token, BGB, unlocks additional fee discounts of up to 20%.
Bitget’s copy-trading function makes it appealing to beginners, letting them replicate the strategies of skilled traders. For experienced users, the platform offers 125x leverage in futures trading along with risk management tools. Security is another strong suit, as Bitget employs cutting-edge encryption and complies with industry standards.
Users can benefit from sign-up bonuses of up to $1,000 and promotional discounts. The intuitive interface and mobile app accessibility make Bitget a preferred choice among Canadian traders.
Crypto.com
Crypto.com is a great option for Canadians looking to trade a broad range of cryptocurrencies while benefiting from seamless fiat transactions. Supporting over 350 digital assets, it provides a user-friendly app for buying, selling, and staking crypto.
One standout feature is the Crypto.com Visa card, which allows users to spend their digital assets directly. Deposits and crypto-to-crypto transactions come with zero fees, though withdrawal fees vary by currency.
Crypto.com also offers enticing rewards for Canadians, such as cashback on Visa card purchases and additional benefits for staking its native CRO token. The platform ensures security with two-factor authentication and provides tax tools customized for Canadian regulations, simplifying the tax reporting process for traders.
BTCC
BTCC, one of the world’s longest-standing crypto exchanges, is a reliable choice for Canadian traders. Operating since 2011, it offers a secure and stable platform for both beginners and experienced investors. Canadians can deposit funds in CAD via credit or debit cards, ensuring convenient transactions.
The platform supports spot trading on over 240 cryptocurrencies and futures trading on 360+ coins. Beginners can take advantage of the copy-trading feature, which allows them to follow expert traders’ strategies. To encourage new users, BTCC provides a 50 USDT loss coverage on the first trade.
A major highlight is its generous rewards program, which offers sign-up bonuses of up to 10,055 USDT through various activities like KYC verification and deposits. Advanced traders can leverage up to 500x on major coins such as BTC, ETH, XRP, DOGE, and SOL.
Coinbase
Coinbase is a top choice for Canadians who prioritize regulation and security. Supporting over 200 cryptocurrencies, it enables straightforward CAD deposits via Interac e-Transfer or debit cards. The platform incorporates robust security measures, including two-factor authentication and insurance protection for digital assets.
Transaction fees on Coinbase vary, with bank transfers incurring around 1.49% and debit card purchases going up to 3.99%. While the fees are higher than some competitors, Coinbase is fully compliant with Canadian regulations, making it a trusted choice for risk-conscious investors.
It’s important to note that provincial laws impact crypto purchase limits in Canada. While regions like Alberta and Quebec impose no restrictions, others cap certain purchases at CAD 30,000 annually. Additionally, Coinbase helps Canadians manage risks by sending portfolio alerts when values fluctuate significantly.
VirgoCX
VirgoCX is a FINTRAC and CSA-regulated Canadian exchange catering to new and experienced traders. It supports over 90 cryptocurrencies and offers additional features such as crypto gift cards, retail gift cards, and CAD-USD foreign exchange services.
The platform is known for its competitive trading spreads, which range from 0.095% to 1.6%.
Users who enroll in the Virgo Plus and Tiered Rewards programs can receive up to a 90% reduction in trading spreads, making it an attractive choice for high-volume traders.
VirgoCX has earned a strong reputation for its easy-to-use interface, fast customer support, and low trading costs. Its customer service team is available via email, live chat, and ticketing, ensuring quick responses to inquiries.
