7 Best Canadian Bitcoin & Crypto Exchanges – 2022

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Best Canadian Crypto Exchange
Author
Craig Leontowicz
Updated: November 7, 2022

✅ To busy to read the article? Here is the BEST CANADIAN CRYPTO EXCHANGE in 2022:

Shakepay — Easy-to-use app for crypto beginners to buy your first Bitcoin or Ethereum. Super secure app, with great customer support. Free to withdraw crypto. Get $10 signup bonus and unlock ‘Shaking SATS’ rewards.

We value; low fees, good design, transparent fees/pricing, community reputation, security reports, third-party audits, legal/regulated exchanges, and responsive customer service.

Cryptocurrency exchange recommendations are made based on real experience from using the websites, apps, and trading platforms. Community sentiment on Reddit and Twitter is also used to compile this ‘best’ of list.

We have been following, measuring, and using all Canadian crypto exchanges for years.

This is how we build our trustworthiness rating to recommend the best exchanges to use.

Compare crypto exchange features, fees, funding, and deposit options. Pros and cons explained. Find the best crypto exchange in Canada for your needs.

TLDR:

Best Canadian Crypto Exchanges

  1. Shakepay – Best for beginners. Easiest crypto exchange to use.

  2. Newton – Best all-around exchange. Low fees, lots of altcoins.

  3. NDAX – Best for traders and buying/selling larger amounts.

  4. Netcoins – Fund/withdraw USD with a Canadian bank account.

  5. Bitbuy – Best for corporate crypto exchange accounts.

Read the guide for beginners: How to Buy Bitcoin in Canada Tutorial →

Best Crypto Exchanges — Quick Fee Comparison Table

Prices and fees are subject to change at any time and can also vary on the blockchain network and at peak usage times.

Spread %

Withdraw Fee

Deposit Fee

# of Coins

Referral Code

1 - 2%

$0

$0

2

0.7%

Crypto: Free up to $5

$0

60+

0.2%

Crypto:~$10

$0

18+

0.5%

Fiat: $0
Crypto:~$15

$0

30+

0 - 1.5%

Fiat: 1.5%
Crypto:~$10

$0

25+

0.2 - 0.3%

Crypto: 0.00001 BTC

Fiat: 1.5%

65+

n/a

0 - 2.5%

$0

$0

37+

~0.2%

Fiat: 1%
Crypto:~$10

Fiat: 0 - 1.5%
Crypto:0%

16+

0.4 - 0.95%

Fiat: $0
Crypto:~$10

$0

67+

0.1%

 0.0002 BTC

$0

350+

0.5%

1.49 - 3.99%

1.49 - 3.99%

100+

~1.5 - 2%

$0

$0

49+

~0.4%

Crypto:~$13

$0

100+

0.6%
Min. $5 Fee

$0

$0

7 stablecoins

n/a

0.5 - 1.25%

Crypto: you decide fee

$0

1

n/a

1.5%

Fiat: 0 - 1.5%

Crypto: 0.0005 BTC

$0

39+

n/a

The Best Crypto Exchanges — Explained (Updated November 2022)

I’ve had accounts at both exchanges MT. Gox and QuadrigaCX. I am as paranoid about safety as anyone. If you don’t know what MT. Gox and QuadrigaCX are — I encourage you to look them up and to DO NOT leave your crypto on any exchange…ever.

Shakepay

1. Shakepay – Easy and fast way to buy Bitcoin or Ethereum.

Shakepay allows Canadians to buy or sell bitcoin and Ethereum. A Montreal-based company that has over 50 employees. It was founded in 2015 and is a legal and regulated Canadian crypto exchange.

Exchange Bitcoin or Ethereum only. Set up limit buys / sells or recurring bitcoin purchases. Learn how to earn free BTC with ‘Shakepay Shaking Sats’. Read the Shakepay Review.

Shakepay iPhone App

So far, Shakepay handles peak times very well. It has worked consistently through the market ups and downs in the last year. Not all exchanges have handled it as well as Shakepay.

Shakepay chat support is available through the app. Shakepay usually responds within a few hours. They also maintain and are responsive to support questions through their social media channels.

Shakepay Features

  • Easy-to-use app
  • Schedule recurring buys
  • Limit orders
  • Earn Bitcoin cashback with a prepaid debit card

Shakepay Fees

  • Deposits and withdrawals: $0
  • Spread: ~1 to 2%
  • Crypto withdrawal: Free

Check Fees and Prices at Shakepay

Shakepay Funding & Withdraw Options

  • Interac E-Transfer
  • Wire Transfers
  • Pre-authorized Debit

Shakepay Pros

  • No fee crypto withdraws
  • Simple app UI/UX
  • Shaking SATS rewards
  • Earn Bitcoin cashback reward with a prepaid Visa debit card

Shakepay Cons

  • Limited coin selection
  • High spread fee
  • Mobile app only

Shakepay is Recommended For

Shakepay is great for people who are making their first Bitcoin or Ethereum purchase.

The simple, easy-to-use app and fee structure for trading and sending crypto to your wallet is a good first step to buying and learning more crypto for the first time.

Shakepay is what I recommend to friends who are just starting out, and not super tech-savvy. Skeptical of crypto and just want to make a hundred-dollar purchase to learn more and test the waters.

Get a $10 Shakepay Sign Up Bonus

Newton

2. Newton – Great all-around exchange for crypto for beginners!

Choose from over 60 coins to buy, sell and trade on Newton.

Low fees, easy-to-use web, and mobile app, and lots of altcoins to buy and sell. Some users report signing up and the verification process can take time. Read the Newton Review.

Founded in 2018. Newton has about 40 employees and has served over 200,000 Canadians. They are hiring and improving the exchange on a regular basis.

Newton

I use Newton for the majority of buying and selling of crypto because of the low fees and based on the amount I am buying and selling.

After struggling through the initial verification process I have had a generally very good experience buying and selling crypto on the exchange.

My questions to customer service were answered within 24 hours and they did fix any issues I had. I like using the desktop website to trade crypto or send it to my wallet or withdraw CAD to my bank account instantly with an e-transfer.

Newton Features

  • Low spread fee
  • 60+ altcoins
  • Limit orders
  • Quicks buys/sells and a trader view

Newton Fees

  • Deposits and withdrawals: $0
  • Spread: ~0.7%
  • Crypto withdrawal: Free up to $5 of network fees

Check Fees and Prices at Newton

Newton Funding & Withdrawal Options

  • Interac E-Transfer
  • Wire Transfer
  • Bank Transfer
  • Connect your bank account with Plaid

Newton Pros

  • Low spread fee on trades.
  • Easy to use and nice design.
  • Lots of altcoins to trade and more are always being added.

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.

Newton Crypto is Recommended For

Newton is a safe and legit crypto exchange for Canadians. Newton has some of the lowest fees on trades and is super easy to use.

I would probably say it’s the best all-around exchange for, fees, design, ease of use, and most altcoins.

Get $25 Newton Sign Up Bonus →

NDAX

3. NDAX – Recommended exchange for Bitcoin and altcoin trading.

NDAX has a full trading platform for desktops/web app. The mobile app isn’t as good as the website for buying and selling crypto.

Recommended for trading larger amounts based on the spread fee and crypto withdrawal fee. Trade Bitcoin with USDT or USDC stablecoin trade pair.

NDAX Crypto Exchange

Looking to buy and trade Bitcoin for thousands of dollars at a time, get the lowest spread fees on trades with NDAX. The website feels fast and snappy and I like that.

NDAX Features

  • BTC stablecoin trading pairs
  • Staking – DOT, ADA, ETH, GRT, MATIC
  • Schedule recurring purchases
  • Advanced trading platform
  • NDAX Wealth – a digital asset Over The Counter (OTC) trading desk, built exclusively for investors looking to trade $200,000 or more.
  • 18+ altcoins

NDAX Fees

  • Deposits and withdrawals: $0
  • Spread: 0.2%
  • Crypto withdrawal: 0.000399 BTC (~$25)

Check Fees and Prices at NDAX

Each coin has a different crypto withdrawal fee based on its blockchain.

NDAX Funding & Withdrawal Options

  • Interac E-Transfer – Funding only. No e-transfer deposit option is currently available.
  • Wire Transfer
  • Bank Draft

NDAX Pros

  • Dark mode
  • Full exchange for traders
  • Low spread fee
  • Option to send coins on the Ethereum (ERC20) or the Binance Smart Chain (BEP20) networks
  • Staking – Earn staking rewards from your crypto
  • Buy Bitcoin with stablecoins USDT or USDC trade pairs

NDAX Cons

  • You can only make deposits with Interac E-transfer. Can’t withdraw $ CAD funds with Interac E-transfer.
  • Crypto withdrawal fee is high
  • The mobile app is not great

NDAX is Recommended For

NDAX is the lowest fee crypto exchange if are buying, trading, selling, and withdrawing over ~$2700 worth of crypto.

Advanced trading website for traders looking for a Canadian platform to trade on. Uses Tradeview charts.

Also for investors looking to trade $200,000 or more using the NDAX (OTC) trading desk.

Get $10 NDAX Sign Up Bonus →

Netcoins

4. Netcoins — Safe and easy-to-use crypto exchange for Canadians.

Netcoins was founded in 2014 and is based in Vancouver, Canada. 

Buy Bitcoin with or deposit/withdraw US dollars with your Canadian bank account.

Get 3% back in Bitcoin with Netcoins Visa Prepaid Card.

Netcoins is the first publicly owned crypto trading platform in Canada. Being public means the financials and books are more transparent, giving users more insight and visibility into operations. BIGG trades under the following symbols: CSE: BIGG, OTCQX: BBKCF, and WKN: A2PS9W.

Netcoins Crypto Exchange

Easy to use crypto exchange. Netcoins make the fees clear and easy to read at each step of the process.

A nice all-around exchange to use. Definitely recommend it to try. At least get the Netcoins Pay Card for the 3% BTC cashback on purchases. Great way to DCA (dollar cost average) into Bitcoin.

Netcoins Features

  • Get 3% back in Bitcoin with Netcoins Visa Prepaid Card
  • USD funding and deposits for Canadians
  • Limit orders
  • Buy crypto with a credit card
  • Easy to use
  • 30+ altcoins

Netcoins Fees

  • Deposits and withdrawals: $0
  • Spread: 0.5%
  • Crypto withdrawal: 0.00025 BTC ($15)

Check Fees and Prices at Netcoins

Netcoins Funding & Withdrawal Options

  • Interac E-Transfer
  • Wire Transfer
  • Online Bill Payment

Netcoins Pros

  • Easy to use
  • Transparent fees
  • US dollar deposits and withdrawals from a Canadian bank account
  • Netcoins Pay – Get 3% back in Bitcoin (Visa Prepaid Card)

Netcoins Cons

  • Average withdrawal fee on crypto
  • Average spread fee on trades

Netcoins is Recommended For

Netcoins is a good all-around exchange to use and has been in business for a very long time. Easy to web interface and mobile app.

Being able to use USD dollars and a Canadian bank account for deposits and withdrawals is awesome and is a feature that most crypto exchanges offer.

Get 3% back in Bitcoin with every purchase you make on the Netcoins Visa Prepaid Card. This is the largest BTC rewards card in Canada right now.

Netcoins offers a physical and digital prepaid Visa debit card for you to earn Bitcoin on every purchase.

Get $25 Netcoins Sign Up Bonus →

Bitbuy

5. BitBuy – Trusted Canadian crypto exchange.

Toronto-based Bitbuy is a registered Money Service Business (MSB) in Canada under FINTRAC since 2016.

Canada’s first 1:1 insured Bitcoin offering platform. Bitbuy is the world’s first platform to find a way to keep the full value of its bitcoin cold storage holdings insured. This is done in partnership with Montreal-based Bitcoin security firm Knox.

Bitbuy has not experienced any hacks and remains a highly safe, secure, and trusted cryptocurrency exchange.

Bitbuy Exchange

Blockchain Intelligence Group completed a 2021 Proof of Reserves report and verified that Bitbuy exceeded 95% cold storage mandate. Overall crypto funds in Bitbuy cold storage were 98.12%.

The desktop and app are both easy to use. Great overall exchange to use.

Bitbuy has been reducing some of its fees over the last year.

Bitbuy Features

  • Beginners can easily buy/sell with ‘Express Trade’
  • Pro Trade – full-featured trading desk for advanced traders
  • 25+ altcoins
  • Bitbuy Private Wealth (OTC)

Bitbuy Fees

  • Interac e-Transfer Deposit: $0
  • Wire Transfer Deposit: $0
  • Interac e-Transfer Withdrawals: 1.5%
  • Wire TransferWithdrawals: 1.5%
  • Spread: 0% – 1.5%
  • Crypto withdrawal: 0.00025 BTC (~$10)

Check Fees and Prices at Bitbuy

Bitbuy Funding & Withdrawal Options

  • Interac E-Transfer
  • Wire Transfer

Bitbuy Pros

  • Regulated and transparent
  • Express trade
  • Pro trade

Bitbuy Cons

  • Lots of KYC questions
  • Low liquidity
  • High deposit fees
  • No stop-loss orders

Bitbuy is Recommended For

Bitbuy is a safe, legitimate Canadian crypto exchange. I have no complaints.

Easy to use crypto exchange for beginners looking to make their first purchase.

Responsive and helpful customer support that has served over 400,000 Canadian customers.

Get $20 Bitbuy Sign Up Bonus

6. Kraken — Great reputation for security!

Kraken is one of the largest and oldest Bitcoin exchanges in the world and has a stellar reputation for security. Recommend for larger crypto buys or sells. Kraken in based in the US. Clean UI.

Kraken Crypto Exchange

Kraken offered multiple crypto to crypto trading pairs.

Most exchanges in this list that offer e-transfer for funding or deposits have zero crypto trading pair variations.

Not all the altcoins Kraken has listed are available for Canadians to trade.

Kraken Features

  • Simple and advanced order types
  • Staking
  • Apps for beginners or traders
  • Fully featured desktop website and app for trading
  • Multiple crypto to crypto trading pairs
  • 65+ altcoins
  • Fund/buy Bitcoin with cash in person at Canada Post
  • Customize fonts and colors on the trading platform

Kraken Fees

  • Fiat Deposits: 1.5%
  • Spread: 0 to 0.26% per trade
  • Crypto withdrawal: 0.00001 BTC

Check Fees and Prices at Kraken

Kraken Funding & Withdrawal Options

  • Interac E-Transfer
  • Wire Transfer (Etana Custody)
  • In-person at Canada Post

Kraken Pros

  • One of the oldest exchanges in crypto
  • Full trade platform
  • Crypto to crypto trading pairs
  • 24/7 live chat support
  • Low spread fee

Kraken Cons

  • Complicated fee structure
  • Not as beginner-friendly
  • 1.5% deposit fee on fiat
  • High crypto withdrawal fee

Kraken is Recommended For

Kraken is good for traders with the low spread fee, crypto to crypto trading pairs, and has a nice and customizable UI for trading. Good staking rates or stake a small amount of ETH.

wealthsimple

7. Wealthsimple – Trade stocks and crypto in the same app!

Simple to use — obviously. Really simplifies the number of apps needed for investing. Wealthsimple now lets you withdraw Bitcoin and cryptocuurnw

Wealthsimple Exchange

Wealthsimle has been improving on the crypto side of the app in the last year.

I like that I can trade stocks and crypto, while also managing my TFSA and RRSP accounts in a single account app.

Wealthsimple Features

  • Stocks and crypto on one platform
  • Easy to use
  • 49+ coins

Wealthsimple Fees

  • Spread: ~1.5 to 2%

Check Fees and Prices at Wealthsimple.

Wealthsimple Funding & Withdrawal Options

  • Link bank account

Wealthsimple Pros

  • Super easy to use
  • UI design

Wealthsimple Cons

  • High fees
  • No limit orders
  • Takes 3-5 days to transfer and settle funds

Wealthsimple is Recommended For

If you want a single platform for your stocks and crypto in Canada – then Weathsimple is what you want. It’s made for beginners and has a super simple app to use.

Get Two Free Stocks at Wealthsimple (up to $25) →

Crypto Exchange Fees & Prices Explained

Every crypto exchange has a slight variation in how they make money and charge their fees when exchanging Canadian dollars (CAD) for their users.

The number of dollars you want to deposit, trade, and withdraw is what is important to determine what exchange has the best rates for what you are doing.

These are possible fees that can be occurred when buying or selling Bitcoin:

  • Fiat Deposits
  • Spread Fee – The difference in the buy and sell price brokered by the exchange.
  • Crypto Withdraw Fee
  • Fiat Withdraw Fee
  • Network Fees – Different fees for different coins (Blockchains).
  • Peak Times – Network and spread fees are variable and fluctuate when there are extreme moves in price.
  • A minimum amount of crypto is sometimes needed to withdraw it to your wallet – the amount depends on the coin and blockchain network.

Consider these possible fees when evaluating what exchange to use.

Lowest Fee Crypto Exchange

It depends on the amount you are buying and the time (network fees), if you are transferring your coins to your wallet or trading for altcoins on a different exchange. You need to do the math in which exchange has the best rates for you at the time of purchase or trade.

However, these exchanges will charge full or partial network fees (fluctuating) when withdrawing Bitcoin from the exchange to your wallet.

Shakepay has a larger spread on the dollar to crypto exchanges but covers the network fee on withdrawals from the exchange. This makes it better for buying or selling a few hundred dollars at a time.

Sign up for multiple exchanges and shop around for the best rates as they are always changing. Find the best exchange rates in Canada at Cryptolens. Shows Real-time rates after all fees.

How to Fund or Withdraw Money From a Crypto Exchange

  1. Signup to a crypto exchange.
  2. Verify your account.
  3. Buy/sell/trade crypto with Canadian dollars.

Ways to link your Canadian bank account to a cryptocurrency exchange:

INTERAC E-Transfer

INTERAC e-Transfer is the easiest, fastest, and cheapest way to fund and deposit money from your Canadian Bank to a crypto exchange in Canada.

E-Transfer funding and deposit times are near-instant in my experience.

There are daily, weekly and monthly limits for INTERAC e-Transfers. You need to check with your bank to see what your limits are.

Wire Transfer

Bank Draft

Credit Cards

Netcoins has the option to buy Bitcoin and a few other cryptocurrencies with a credit card (Visa or Mastercard).

Most credit card companies and/or banks block and do not allow buying Bitcoin and cryptocurrency with credit cards (Visa, Mastercard) in Canada. This includes prepaid gift cards.

For this reason, most people use INTERAC e-Transfer to fund accounts for small amounts for immediate transfer. Or wire transfer for larger deposits and withdrawals.

Cryptocurrency exchanges will charge a 1-3% transaction fee for buying using a credit card on their platform.

PayPal

Buying Bitcoin on the Paypal app is not available to Canadian customers.

Coinbase is the only crypto exchange that connects with PayPal.

It only allows users to deposit money from Coinbase to Paypal. They do not accept it as a form of payment to buy Bitcoin as a Canadian at this time.

I was not able to connect my Coinbase account to PayPal. Every time I tried I got an error that just ended up going in a loop.

Cash and Bitcoin ATMs

I haven’t used any of these options. Proceed carefully. It’s your responsibility to stay safe and educate yourself about the potential dangers of peer-to-peer trading.

The fees and spreads are significantly higher when buying with cash, ATMs, and on peer 2 peer exchanges.

P2P Exchanges – Bisq, Paxful, Binance P2P.

Coinatmradar.com – Find a Bitcoin ATM near you.

LocalCryptos.com – Non-custodial crypto marketplace.

LocalBitcoins.com – Trade bitcoins person-to-person.

Account Verification / KYC

KYC (Know Your Customer). This is required by FINTRAC.

All legal Bitcoin exchanges in Canada will require that you prove your identity. The entails uploading your ID, a bill to prove your mailing address, and sometimes face scans.

Reddit

/r/BitcoinCA – is the largest crypto subreddit for Canadians. Generally, it is focused on Bitcoin discussion but you can find lots of threads about which crypto exchange has what altcoin, how the customer service is, or how the different exchanges are working during peak times and reviews. Here are a few more subreddits about crypto.

Frequently Asked Questions

What is the easiest way to buy Bitcoin in Canada?

Shakepay and Interac e-transfer. Send and receive funds from your bank account almost instantly after you have verified your account. Get a $10 sign-up bonus when you deposit and trade $100 CAD.

Can I buy or sell Bitcoin from my bank? (TD, RBC, Scotiabank, BMO…)

To buy or sell Bitcoin you will need to send your $ Canadian dollars to a cryptocurrency exchange (listed above). INTERAC E-Transfer, Wire Transfer, and Bank Draft are the best ways to connect your bank account to fund or deposit money from crypto exchanges.

What is the safest crypto exchange in Canada?

Bitbuy, Netcoins, NDAX, Kraken, Newton, Shakepay, and the rest of the Bitcoin exchanges listed above are regulated to operate legally in Canada. They have all been in business for years and have a good reputable history.

What is the *best crypto exchange app?

Newton Crypto exchange is my favorite all-around exchange. Choosing the best crypto exchange app basically comes down to; how much Bitcoin are you wanting to buy or sell, your trading and investing strategy, altcoin availability, and network availability. I recommend different exchanges based on all these factors.

Is Bitcoin legal in Canada?

Yes. Bitcoin is legal in Canada to buy, hold, sell, and trade.

Can I leave my Bitcoin on the exchange?

It is best to send your digital assets to your wallet that you are in control of. This means you have the 12 or 24 word seed phrase. You can use a free software wallet or add a hardware wallet for added security. A crypto exchange is NOT a wallet.

Is it hard to convert bitcoin to cash?

No. It is super easy and fast to send Bitcoin to a crypto exchange from your wallet, convert it to $ Canadian dollars, and withdraw those funds from the crypto exchange to your bank account with an e-transfer. You will need a verified exchange account. Wire Transfer or Bank Draft can take 24- 48 hours.

Do I pay tax on Bitcoin and Crypto?

The CRA generally treats cryptocurrency as a commodity for purposes of the Income Tax Act. Read the Guide for cryptocurrency users and tax professionals.

Can I Buy Bitcoin if I am under 18 years old?

You need to be 18+ to create an account on a cryptocurrency exchange account in Canada to buy Bitcoin. You can have a crypto wallet under 18.

Summary — Best Bitcoin & Crypto Exchanges in Canada

Newton – Best all-around exchange. Low fees, easy to use, and lots of altcoins to buy and sell. It is recommended for beginners. Get $25 Sign Up Bonus →

Shakepay – Easiest crypto exchange to use. Buy and sell Bitcoin or Ethereum only. Set up limit buys / sells or recurring crypto purchases. Recommend for beginners. Use a referral code to activate the secret ‘Shaking SATS’ rewards easter egg to earn free Bitcoin daily. Get a $10 Sign Up Bonus →

Newton or Shakepay is what I recommend for friends buying their first Bitcoin and crypto in Canada.

It’s very easy to use for buying Bitcoin and Ethereum and other cryptos on these exchanges for beginners.

Shakepay covers the withdrawal fee (Bitcoin Network) when sending to your own wallet. Creating and verifying an account is fast and easy.

Get $10 when you sign up using a referral code and make a deposit of $100. Unlock shaking sats and earn bitcoin daily. Accepts INTERAC e-Transfer for fast deposits.

This combination of factors is why I think Shakepay is a great first step for buying Bitcoin in Canada for beginners.

Once you have converted some fiat to crypto you can send it to your own wallet. Or send it to another exchange to trade for altcoins.

Don’t leave coins on the exchange. It is best practice to the custody of your coins in a wallet you have the seed phrase for.

Hopefully, this answered your question about the best ways to buy and sell Bitcoin and crypto in Canada. 🙂

Buy Bitcoin Newton

Best overall exchange. Lots of altcoins. Low spread fee.

Buy Bitcoin on Shakepay

Easiest exchange to use. Free withdraws on Bitcoin.

Easy to use exchange. Get 3% Bitcoin cashback rewards.

Errors or corrections? Contact Us.