There are 11 Registered Crypto Asset Trading Platforms in Ontario. The following crypto asset trading platforms have received exemptive relief to offer crypto products to investors in Ontario. (Source)
Bitbuy Fees
- Interac e-Transfer Deposit: $0
- Wire Transfer Deposit: $0
- Interac e-Transfer Withdrawals: 1.5%
- Wire Transfer Withdrawals: 1.5%
- Spread: 0% – 1.5%
- Crypto withdrawal: 0.00025 BTC (~$10)
Funding & Withdrawal Options
- Interac E-Transfer
- Wire Transfer
- Credit Card
Cryptocurrencies: 25+
Bitbuy Pros
- Regulated and transparent
- Express trade
- Pro trade
- Staking
Bitbuy Cons
- Lots of KYC questions
- Low liquidity
- High deposit fees
- No stop-loss orders
Read: Newton Review
Newton Fees
- Deposits and withdrawals: $0
- Spread: ~0.75% to 1.5%
- Crypto withdrawal: Free up to $5 of network fees
Funding & Withdrawal Options
- Interac E-Transfer
- Wire Transfer
- Bank Transfer
- Connect your bank account with Plaid
Cryptocurrencies: 70+
Newton Pros
- Low spread fee on trades.
- Easy to use and nice design.
- Lots of altcoins to trade and more are always being added.
- Multi-network support
Newton Cons
- Verifying an account when signing up can take time.
- Can have difficulty at peak times.
- Customer service can be overwhelmed and take time to respond or you need to post on the Newton subreddit to get help.
VirgoCX Fees
- Deposits and withdrawals: $0
- Spread: 0.5% to 2.5% (Depends on asset)
- Crypto withdrawal: Free
Funding & Withdrawal Options
- Interac E-Transfer
- Wire Transfer
- Bill Payment
- Debit Card
Cryptocurrencies: 60+
VirgoCX Pros
- Market dashboard uses TradingVeiw charts
- Fund/withdraw US Dollars (USD) with a Canadian bank account
- OTC desk for large transactions over $50,000 CAD
VirgoCX Cons
- Verification process for new accounts is difficult
- Account password has a maximum of 15 characters
Wealthsimple Fees
- Spread: ~1.5 to 2%
Funding & Withdrawal Options
- Link bank account
Cryptocurrencies: 49+
Wealthsimple Pros
- Super easy to use
- UI design
- Staking
Wealthsimple Cons
- High fees
- No limit orders
- Takes 3-5 days to transfer and settle funds
CoinSmart Fees
- Interac e-Tranfer Deposit: 0% for $2,000+, 1.5% for $100 – $1,999
- Wire Transfer Deposit: 0%
- Spread: ~0.2%
- Crypto withdrawal: 0.00025 BTC (~$10)
- Fiat withdrawal: 1% Fee ($15 Minimum)
Funding & Withdrawal Options
- Interac e-Transfer (Deposit only)
- Wire Transfer
Cryptocurrencies: 16+
CoinSmart Pros
- Desktop web app
CoinSmart Cons
- High fees
- Interac e-Transfer deposits only
HowToBuyBitcoin101.com is basic how to crypto guides, reviews and information for beginners to get started with cryptocurrency in Canada. NOT investment advice. Investing in cryptocurrency is risky. Do your own research.
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