Choosing the right cryptocurrency exchange is one of the most critical decisions a crypto investor can make. For Canadians, the good news is that there are numerous reliable and regulated platforms available — each offering unique features, fee structures, and security protocols tailored to different types of investors.
Whether you're a beginner looking for an easy-to-use interface or an advanced trader seeking low fees and diverse altcoin options, this guide explores the top crypto exchanges in Canada for 2025. We’ve evaluated each platform based on security, fees, user experience, supported assets, and regulatory compliance to help you make an informed choice.
What Are Cryptocurrency Exchanges?
Cryptocurrency exchanges function similarly to traditional stockbrokers like Questrade or Wealthsimple Trade. They enable users to buy, sell, and trade digital currencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) using fiat money (like CAD) or other cryptocurrencies.
These platforms can be fully online or include physical locations like Bitcoin ATMs. Online exchanges process transactions electronically, while brick-and-mortar services may allow cash or in-person trades.
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Centralized vs Decentralized Exchanges
Centralized exchanges (CEXs) are operated by companies and follow strict regulatory standards. Users must often complete identity verification (KYC) to comply with anti-money laundering laws. Examples include Bitbuy, Kraken, and Newton.
In contrast, decentralized exchanges (DEXs) operate without a central authority. Users retain full control of their funds and private keys, enabling anonymous trading. However, DEXs generally have lower liquidity and steeper learning curves.
While decentralized platforms offer more privacy, centralized exchanges provide better usability, faster transactions, and stronger customer support — making them ideal for most Canadian investors.
Key Features to Consider When Choosing a Crypto Exchange
Before selecting a platform, consider these essential factors:
- Regulatory Compliance: Look for exchanges registered with FINTRAC as Money Service Businesses (MSBs).
- Security Measures: Cold storage, two-factor authentication (2FA), and insurance coverage are crucial.
- Fees: Compare deposit, withdrawal, and trading fees across platforms.
- Supported Cryptocurrencies: Ensure your preferred coins (e.g., BTC, ETH, DOGE, SHIB) are available.
- User Experience: Beginner-friendly interfaces and mobile apps improve accessibility.
- Transparency: Clear fee structures and public policies build trust.
Top Canadian Crypto Exchanges in 2025
Bitbuy
Based in Toronto and founded in 2016, Bitbuy is one of Canada’s most secure and transparent crypto exchanges. It supports nine major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Stellar (XLM), EOS, AAVE, Chainlink (LINK), and Bitcoin Cash (BCH).
As a FINTRAC-registered MSB, Bitbuy stores 99% of assets in cold storage and partners with BitGo for insurance coverage. This adds significant peace of mind for investors concerned about security.
Fees:
- Interac e-Transfer deposits: 1.5%
- Bank wire deposits: 0.5%
- Crypto withdrawals: Fixed fees (e.g., 0.00025 BTC for Bitcoin)
- No fees for crypto deposits
Bitbuy offers two trading interfaces: Bitbuy Express for beginners and Bitbuy Pro for active traders needing advanced tools.
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NDAX
The National Digital Asset Exchange (NDAX), based in Calgary, provides access to over 20 popular cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and XRP. It uses Ledger Vault for cold storage and is FINTRAC-compliant.
One of NDAX’s biggest advantages is free CAD deposits via Interac e-Transfer, bank draft, or wire transfer. Withdrawals incur a flat $25 fee. Trading fees are a flat 0.20%, making it one of the most cost-effective options in Canada.
Verification is fast — usually completed within minutes or one business day.
Binance
Although Ontario has restricted Binance’s operations, it remains accessible in other provinces. As the world’s largest exchange by trading volume, Binance offers hundreds of altcoins not found elsewhere — perfect for investors seeking exposure beyond mainstream cryptos.
Canadian users can deposit CAD via third-party providers like Banxa or Simplex using debit/credit cards (fees apply). However, direct fiat withdrawals to Canadian banks aren’t supported.
Instead, users should transfer crypto to a Canadian exchange (like Bitbuy or Newton), sell it for CAD, then withdraw to their bank account.
Binance charges as low as 0.1% trading fees, with discounts available when paying in BNB. While it was hacked in 2019, it has since strengthened its security framework.
CoinSmart
Toronto-based CoinSmart offers a user-friendly experience with support for over a dozen cryptos including Shiba Inu (SHIB), Polkadot (DOT), and Uniswap (UNI).
It offers fast verification and strong security through offline storage. Trading fees are 0.20% for single trades and 0.30% for double trades.
Deposit Fees:
- Free bank wires ($10,000 minimum)
- Free Interac e-Transfer on deposits ≥ $2,000
- Up to 6% fee for card payments
Crypto withdrawals have variable flat fees depending on the asset.
MyBTC
MyBTC is a brokerage focused solely on Bitcoin purchases. It accepts Interac e-Transfer, credit/debit cards, bank wires, and even cash payments at select locations.
Fees are relatively high:
- Interac: 7.75% or $10 (whichever is greater)
- Credit card: 9.75%
- Cash/debit: 9.75%
However, once purchased, Bitcoin is sent directly to your wallet — ideal for long-term holders who prefer not to leave funds on exchanges.
Kraken
U.S.-based but widely used in Canada, Kraken has never been hacked and maintains a stellar reputation since its founding in 2011. It supports over 50 cryptos including Monero (XMR) and Polkadot (DOT).
New users face limited CAD funding options — primarily domestic wire transfers or in-person deposits at Canada Post. However, withdrawals via EFT cost only 0.25%.
Trading fees range from 0% to 0.26%, depending on volume. Kraken also provides 24/7 customer support — rare among exchanges.
Coinbase
Popular globally after its 2021 IPO, Coinbase offers over 75 cryptocurrencies and an intuitive interface ideal for beginners.
However, Canadian users face limitations:
- Only debit card purchases allowed (4% fee)
- Withdrawals only via PayPal
- No direct bank transfers
Despite high fees and limited options, Coinbase insures assets and holds cash in FDIC-insured accounts.
Coinbase Pro offers lower spreads and advanced charting tools for experienced traders.
Shakepay
Montreal-based Shakepay specializes in Bitcoin and Ethereum trading with zero commissions. Instead, it applies a variable spread of up to 3%.
All CAD deposits and withdrawals via Interac e-Transfer are free. The platform is registered with both FINTRAC and AMF (Quebec’s financial regulator) and insured through Lloyd’s of London.
With over $3 billion in crypto traded and more than 600,000 users served, Shakepay is ideal for casual investors focused on BTC and ETH.
Bittrex
U.S.-based Bittrex supports over 300 cryptocurrencies with flat 0.25% trading fees and no deposit/withdrawal charges. It has a strong security record with no known breaches.
However, it only accepts USD — so Canadian users must route through another exchange to convert CAD or withdraw funds locally.
Best used as a secondary trading hub after acquiring crypto on a Canadian platform.
Newton
Launched in 2018, Newton stands out with no trading fees — instead using a narrow spread of 0.5%–0.7%. It supports over 40 assets including SushiSwap (SUSHI).
Registered with FINTRAC, Newton allows free Interac e-Transfer deposits and withdrawals. Crypto withdrawals are covered up to $5 in network fees.
Its Newton Pro API offers tighter spreads (0.1%), deeper liquidity, and over 100 trading pairs for advanced users.
Wealthsimple Crypto
A natural extension of Wealthsimple’s investment ecosystem, Wealthsimple Crypto lets users trade over 30 cryptos alongside stocks in one app.
Spreads range from 1.5% to 2%, which is higher than competitors. However, its integration with traditional investing makes it appealing for portfolio diversification.
Most assets are custodied with Gemini — a trusted U.S.-based exchange — enhancing security.
Coinsquare
Founded in 2014, Coinsquare has rebuilt trust after past market manipulation issues. It now operates under new management and remains FINTRAC-registered.
It supports nine cryptos including BTC, ETH, XLM, and DOGE. CAD deposits via Interac are free ($20 minimum), but withdrawals carry a 2% fee.
Crypto withdrawal fees are fixed per coin (e.g., 0.0005 BTC).
Netcoins
Owned by BIGG Digital Assets (CSE: BIGG), Netcoins supports 10 digital currencies including Algorand (ALGO) and QCAD.
It features simple one-click trading with a flat 0.50% trading fee. All fiat deposits are free with low minimums ($10 via Interac).
Netcoins is suitable for beginners but lacks advanced tools for serious traders.
Mogo
MogoCrypto, part of NASDAQ-listed Mogo Inc., allows only Bitcoin trading with a flat 1% fee.
Deposits and withdrawals via Interac e-Transfer are free. Users earn 0.5% Bitcoin cashback on trades exceeding $10,000/month.
Note: Mogo relies on Coinsquare for transaction processing, so an additional “exchange partner fee” may apply.
Coinberry
Toronto-based Coinberry supports major cryptos like AAVE, BAT, DOGE, LINK, and DOT. It partners with Gemini for custody and insurance up to $200 million.
It gained recognition in 2019 by enabling Bitcoin tax payments in Ontario municipalities like Innisfil and Richmond Hill — showcasing real-world utility.
Coinberry charges no fiat deposit/withdrawal fees. Crypto withdrawal fees vary by network conditions except for LTC (fixed at 0.02 LTC).
Trading costs include a spread of up to 2.5%, which fluctuates based on market demand.
Frequently Asked Questions (FAQs)
Q: Which crypto exchange is best for beginners in Canada?
A: Shakepay and Newton are excellent choices due to their simple interfaces, free deposits, and strong security features.
Q: What is the safest crypto exchange in Canada?
A: Exchanges registered with FINTRAC that store most assets in cold wallets — such as Bitbuy, Kraken, and Newton — are considered among the safest.
Q: Are crypto exchanges legal in Canada?
A: Yes. All major exchanges operating in Canada are regulated by FINTRAC as Money Service Businesses and must comply with anti-money laundering laws.
Q: Can I buy crypto with Interac e-Transfer?
A: Yes. Most Canadian exchanges — including Bitbuy, NDAX, Newton, and Coinberry — accept Interac e-Transfer for instant CAD deposits.
Q: Do I need to pay taxes on crypto gains in Canada?
A: Yes. The CRA treats cryptocurrency as property. Capital gains from selling crypto are taxable unless it's considered business income.
Q: Which exchange has the lowest trading fees?
A: NDAX offers a flat 0.2% trading fee with free CAD deposits — making it one of the most affordable options currently available.
Final Thoughts
Canada offers a mature and competitive crypto exchange landscape with platforms catering to every type of investor — from first-time buyers to seasoned traders.
Prioritize security, regulatory compliance, and fee transparency when choosing your platform. For long-term holders, consider moving your assets to cold storage after purchasing — because as the community says: “Not your keys, not your crypto.”
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