1. Kraken
Best for Advanced Traders and Security
Kraken is a global crypto exchange with strong regulatory credentials and a stellar reputation. It supports over 350 cryptocurrencies, including spot, futures, and margin trading. Kraken is ideal for users who need advanced trading tools with competitive fees and top-tier security practices.
- Cryptocurrencies: 350+
- Fees: 0 to 0.40%
- Deposits/Withdrawals: Minimum $10; up to $100,000 depending on KYC level
- Payment Methods: Card, bank transfer, PayPal
- Pros: Strong security, advanced tools, low fees
- Cons: Interface can be overwhelming for beginners
2. Bitbuy
Best for Beginners and Canadian Dollar Support
Bitbuy is a Toronto-based exchange designed exclusively for Canadians. It supports over 25 cryptocurrencies and offers a clean, simple interface perfect for first-time investors. The platform is registered with FINTRAC, ensuring full compliance with Canadian laws.
- Cryptocurrencies: 25+
- Fees: 0.5% maker/taker
- Deposit Minimum: $50
- Payment Methods: INTERAC e-Transfer, credit/debit card
- Pros: Fully Canadian, beginner-friendly, regulated
- Cons: Limited coin selection
3. VirgoCX
Best for OTC Trading and Wide Coin Selection
VirgoCX supports over 90 cryptocurrencies and is known for offering competitive spreads and free deposits. It also offers a wealth management OTC service for large-volume traders. Based in Toronto, the exchange is registered and compliant with Canadian regulators.
- Cryptocurrencies: 90+
- Fees: 0.095% to 1.85%
- Deposit Limits: Up to $10,000 daily
- Payment Methods: Wire transfer, credit/debit card
- Pros: Large asset range, free cash deposits, OTC options
- Cons: Fees vary depending on volume and spread
4. Crypto.com
Best for Mobile Traders and Crypto Debit Cards
Crypto.com is a global exchange that offers over 300 cryptocurrencies and a range of services including staking, crypto cards, and an integrated mobile app. It is registered with FINTRAC in Canada and supports Canadian users with local compliance.
- Cryptocurrencies: 300+
- Fees: 0 to 2.99% (depends on transaction type)
- Minimum Deposit: $20
- Pros: Mobile-first design, crypto cards, extensive features
- Cons: Higher fees for instant purchases
5. NDAX
Best for Low Fees and Secure Banking
NDAX is based in Calgary and is known for offering a flat 0.2% trading fee. It supports 30+ cryptocurrencies and ensures user funds are stored in segregated Canadian bank accounts. NDAX also offers staking and a crypto wealth management desk.
- Cryptocurrencies: 30+
- Fees: 0.2% flat
- Payment Methods: INTERAC e-Transfer, wire
- Pros: Transparent fees, strong security, local banking
- Cons: Smaller asset selection
6. Wealthsimple Crypto
Best for Stock Investors Adding Crypto
Wealthsimple is better known for its stock and ETF services but also offers over 60 cryptocurrencies on its platform. It’s ideal for Canadians who want a single platform for both traditional and crypto investments.
- Cryptocurrencies: 60+
- Fees: 1.5% to 2%
- Max Daily Deposit: $25,000
- Payment Methods: Bank account, INTERAC
- Pros: Regulated, CDIC insured for fiat funds, unified investing
- Cons: High fees, no withdrawals to external wallets
7. Newton
Best for User Experience and No Fees
Newton offers a smooth trading experience with support for over 70 cryptocurrencies. The platform has no deposit or withdrawal fees, and trading spreads are competitive. It’s one of the most beginner-friendly options in Canada.
- Cryptocurrencies: 70+
- Fees: 1% to 2% (spread-based)
- Payment Methods: Bank transfer, card
- Pros: Great UI, no additional fees, supports large volume
- Cons: Higher spreads than some competitors
8. Shakepay
Best for Simplicity and Zero Fees
Shakepay is a minimalistic platform that only supports Bitcoin and Ethereum but charges zero trading fees. Based in Montreal, it allows Canadians to buy and sell crypto quickly using INTERAC or wire transfers.
- Cryptocurrencies: 2 (BTC, ETH)
- Fees: Zero
- Minimum Deposit: $5
- Pros: Zero trading fees, easy to use, fast transfers
- Cons: Only supports two assets
9. Coinsquare
Best for Security and Long-Term Trust
Coinsquare is one of the oldest Canadian crypto exchanges. Founded in 2014, it offers a secure platform to buy and trade over 60 cryptocurrencies. It’s fully regulated and places strong emphasis on cold storage and encryption.
- Cryptocurrencies: 60+
- Fees: Varies by service
- Deposit Methods: INTERAC, wire
- Pros: Strong security, Canadian roots, reliable infrastructure
- Cons: Some services may involve high fees
Comparison Overview
| Exchange | Cryptos | Fees (Trading) | Highlights |
|---|---|---|---|
| Kraken | 350+ | 0 to 0.40% | Advanced tools, deep liquidity |
| Bitbuy | 25+ | 0.5% maker/taker | Canadian-focused, beginner-friendly |
| VirgoCX | 90+ | 0.095% to 1.85% | Wide selection, OTC services |
| Crypto.com | 300+ | 0 to 2.99% | Mobile-first, crypto cards |
| NDAX | 30+ | 0.2% flat | Regulated, low fees, local bank support |
| Wealthsimple | 60+ | 1.5% to 2% | All-in-one investment platform |
| Newton | 70+ | 1% to 2% (spread) | Fee-free deposits and withdrawals |
| Shakepay | 2 | Zero | Simplified, fast BTC and ETH trading |
| Coinsquare | 60+ | Varies | Trusted brand, strong security features |
Final Thoughts
The best crypto exchange in Canada depends on your needs.
Choose Kraken or Crypto.com for advanced trading, Bitbuy or NDAX for low-cost local options, and Wealthsimple or Shakepay for simplicity and regulatory security.
Always verify KYC requirements, check fee disclosures, and confirm whether a platform supports external wallet withdrawals before committing funds. Regulatory compliance and local bank support are also essential considerations in the Canadian market.
Disclaimer: This article is for informational purposes only. Always do your own research and consult a financial advisor before investing in cryptocurrency.