Canada is one of the more regulated crypto markets in the world. Exchanges operating in the country must register with provincial securities regulators (through the Canadian Securities Administrators, or CSA) and with FINTRAC as money services businesses. That makes choosing a compliant platform an important first step.
This guide compares popular crypto exchanges available to Canadians, explains how to judge fees and safety, and helps you pick the right platform.
Crypto is volatile and you can lose money. Always confirm current fees and registration status before you sign up.
Quick Comparison
Exchange Best For Notable Feature
Newton Beginners Simple interface, Canadian-focused
Coinbase Beginners and mid-level users Large asset selection, strong brand
Kraken Active traders Advanced tools, wide selection
Bitbuy Canadian-focused trading Local support, CAD deposits
Wealthsimple Crypto Existing Wealthsimple users Integrated with investing app
Binance (where available) Advanced users Large global liquidity
Coinsmart Canadian users Local platform with CAD support
Shakepay Beginners and Bitcoin buyers Easy CAD on-ramp, rewards
Availability and features vary by province and change over time.
- Newton: Best for Beginners
Newton is designed for people buying crypto for the first time. The interface is simple, and it supports CAD deposits.
Pros: Easy to use, beginner-friendly
Cons: Fees can be higher than on advanced platforms
Best for: New investors who want simplicity.
- Coinbase: Best for a Trusted Global Brand
Coinbase is a large, publicly traded exchange with a wide selection of coins and a polished mobile app. It offers a simple buying experience alongside more advanced trading tools.
Pros: Strong brand, wide asset selection, good app
Cons: Simple-buy fees can be higher than pro platforms
Best for: Beginners who also want room to grow.
- Kraken: Best for Active Traders
Kraken offers advanced trading features, a broad range of assets, and competitive fee tiers for higher volumes.
Pros: Advanced tools, deep liquidity, many coins
Cons: Interface can feel complex for beginners
Best for: Active and experienced traders.
- Bitbuy: Best for a Canadian-Focused Experience
Bitbuy is a Canadian platform with CAD banking, local customer support, and a straightforward interface.
Pros: Canadian company, CAD support, clear interface
Cons: Smaller asset selection than global exchanges
Best for: Canadians who want a local option.
- Wealthsimple Crypto: Best for Existing Wealthsimple Users
If you already use Wealthsimple for investing, adding crypto in the same app is convenient.
Pros: Integrated with other accounts, simple experience
Cons: Fewer coins and limited advanced features
Best for: Users who prefer one app for everything.
- Binance: Best for Advanced Users (Check Availability)
Binance offers large global liquidity and many trading pairs. Its availability and services for Canadians have changed over time, so check whether it operates in your province before considering it.
Best for: Advanced users, subject to current availability.
- Coinsmart: Best for Canadian Traders
Coinsmart is a Canadian platform offering CAD support and a selection of major assets.
Best for: Canadians looking for a local alternative.
- Shakepay: Best for Easy Bitcoin Buying
Shakepay is popular for simple CAD-to-Bitcoin purchases and beginner-friendly features.
Best for: Newcomers who mainly want Bitcoin.
How to Compare Crypto Exchange Fees
Fees are one of the biggest differences between platforms. Look at:
Trading fees: Maker and taker fees, or a flat percentage
Spread: The gap between buy and sell prices, which can be a hidden cost on “simple” platforms
Deposit fees: E-Transfer, wire, or card charges
Withdrawal fees: Fixed fees for moving crypto or CAD out
Network fees: Blockchain fees paid to miners or validators
Tip: Advanced or “pro” trading modes usually cost less than instant-buy screens.
How to Judge Exchange Safety
Regulatory registration. Check whether the exchange is registered with your provincial securities regulator and FINTRAC.
Proof of reserves. Some platforms publish evidence that customer assets are backed.
Cold storage. Reputable exchanges keep most customer crypto offline.
Security features. Look for two-factor authentication, withdrawal whitelists and account alerts.
Insurance disclosures. Read exactly what is and isn’t covered, since crypto is not covered by CDIC deposit insurance.
Track record. Consider history of hacks, outages and how the company handled them.
Transparency. Clear terms, fee schedules and customer support matter.
Important: Crypto held on an exchange is not protected like a bank deposit. Consider moving long-term holdings to a hardware wallet you control.
Key Features to Compare
Available coins and tokens
CAD deposit methods (Interac e-Transfer, bank transfer)
Withdrawal speed
Mobile app quality
Staking or earning options (check regulations and risks)
Advanced order types for traders
Customer support availability and language
Tax reporting tools
Crypto Taxes in Canada
The Canada Revenue Agency (CRA) generally treats crypto as a commodity. That means:
Capital gains: Selling, trading or spending crypto can trigger a capital gain or loss. Typically, half of the gain is taxable.
Business income: Frequent trading or mining may be treated as business income.
Records: Keep detailed records of every transaction, including dates, amounts and CAD values.
Many exchanges offer transaction history exports, and dedicated crypto tax software can help. Speak to an accountant for your situation.
Common Mistakes to Avoid
Using an unregistered platform
Ignoring spreads and hidden fees
Leaving large amounts on an exchange long term
Skipping two-factor authentication
Falling for scams promising guaranteed returns
Not tracking transactions for tax
Investing money you cannot afford to lose
How to Get Started
Choose a registered exchange that fits your needs.
Create an account and complete identity verification (KYC).
Enable two-factor authentication.
Deposit CAD via e-Transfer or bank transfer.
Start small and learn how the platform works.
Consider withdrawing long-term holdings to a personal wallet.
Frequently Asked Questions
Is crypto legal in Canada?
Yes. Buying, selling and holding crypto is legal, and exchanges must follow registration and compliance rules.
What is the best crypto exchange in Canada?
It depends on your goals. Beginners often prefer simple platforms, while active traders prefer platforms with lower fees and advanced tools.
Which exchange has the lowest fees?
Typically, pro trading interfaces on larger exchanges have lower fees than instant-buy features. Compare current schedules.
Are Canadian crypto exchanges safe?
Registered exchanges follow stricter rules, but crypto is never risk-free. Use strong security and avoid keeping more than you need on an exchange.
Do I have to pay tax on crypto in Canada?
Yes, in most cases. Gains from selling or trading are taxable, and records are required.
Can I buy crypto with a credit card in Canada?
Some platforms allow it, but many banks restrict crypto purchases on credit and fees can be high.
Final Verdict
The best crypto exchange in Canada depends on how you plan to use it. Newton, Shakepay and Wealthsimple suit beginners, Coinbase and Kraken offer more features and choice, and Bitbuy and Coinsmart are strong Canadian-focused options. Prioritize regulatory registration, transparent fees and strong security, and only invest what you can afford to lose.
Disclaimer: This article is for general information only and is not financial, investment or tax advice. Cryptocurrencies are volatile and you may lose some or all of your investment. Exchange features, fees and availability change. Verify current details with each provider and consult a qualified professional.