Exchange Comparison

3 Best Apps to Buy Bitcoin in Canada

With so many apps to Buy Bitcoin in Canada, I wanted to compile the ratings and reviews for the most popular apps and exchanges.

The best-rated app with the most reviews is Wealthsimple.
Newton and Shakepay are the next most popular choices for Canadian exchanges.
Kraken, Coinbase, and Binance are the largest exchanges and have the most app downloads and reviews.

This isn’t my opinion this is based on the numbers. The people love Wealthsimple.

I Googled every exchange app. Their app store rating and the number of reviews they have received.

You can decide for yourself which you think is the best app for cryptocurrency in Canada based on this data.

5 Coinbase Alternatives: What is the Canadian Equivalent to Coinbase?

If you are Canadian and tried to use Coinbase, you will quickly realize it’s not as simple to use for us.

It’s hard to fund and deposit because Coinbase does not accept eTransfers. The Paypal withdraw featured didn’t work for me. Not all the coins listed on Coinbase are available to Canadians. For this reason, it is best to use a Canadian crypto exchange.

In my opinion, Newton is the most similar comparison to Coinbase for Canadians. Make instant deposits and withdrawals with eTransfer. The simple easy-to-use design makes buying/selling crypto simple.

Newton – Best all-around exchange. Low fees, easy to use, and lots of altcoins to buy and sell. It is recommended for beginners.

Choosing the best crypto exchange between Newton vs NDAX will ultimately depend on a few factors. Mainly how much you want to buy/sell and if you want to trade or just buy and hold.

I have used both of these exchanges for more than two to three years now and this is what I would recommend and why:

Newton – Easy to use exchange for beginners with lots of altcoins. Best overall exchange for most people.
NDAX – Best for traders. Stake crypto to earn interest rewards.
For Fees: Use Newton to buy/sell less than $5K worth of crypto and use NDAX if you want to buy/sell more than $5K.

Affiliate Disclaimer – We earn from qualifying purchases.

Written by: Craig Leontowicz | Updated: April 27, 2023

If you are trying to figure out which crypto exchange to sign-up for and you’ve got it narrowed down to Shakepay vs. Coinbase — The answer is Shakepay for funding/deposits with a Canadian bank account and Coinbase for trading and altcoins.

I’ve used both these platforms and apps for a couple of years. I also live in Canada.

Basically, as a Candian, the easiest, fastest way to fund a crypto exchange account with $ dollars is with Interac e-Transfer. Coinbase doesn’t offer this option to fund your account.

Shakepay only offers Bitcoin and Ethereum compared to Coinbase, where you can choose from 100+ altcoins.

You can still sign up and verify your account on Coinbase as a Canadian — it is just easier to fund and withdraw crypto for a majority of people using Shakepay and eTransfer.

5 Best Bitcoin & Crypto Exchanges for Ontario

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)

4 Exchange Alternatives to Bitbuy

Here are 4 crypto exchange alternatives to Bitbuy.

3 Shakepay Alternatives

Here are 3 alternative Canadian crypto exchanges to Shakepay to purchase, trade, and sell Bitcoin and cryptocurrency.

Debating between Shakepay vs NDAX? I’ve been using both these exchanges for over two years at the time of writing this post update.

If you are buying crypto for the first time and wondering if Shakepay or NDAX are safe and legit exchanges — the answer is yes. I would recommend both exchanges to friends.

If you are a beginner and super confused by crypto and looking for the easiest way to buy Bitcoin or Ethereum — Sign up to Shakepay.

Want to trade Bitcoin or buy and sell thousands of dollars of crypto at the time, get the lowest spread fees — Sign up for NDAX.

It would depend on what coins you are wanting to buy, how much you are wanting to invest, and how what type of trader or investor you are to determine what exchange in best to use.

Here are some of the pros and cons of each exchange to compare from my experience.

Shakepay vs Newton TL;DR: Shakepay

I recommend beginners buying Bitcoin in Canada use Shakepay as their first app/website to buy some crypto. It is super simple and easy to use for beginners to crypto to buy some crypto with INTERAC e-Transfer.