Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Canada's vibrant crypto market thrives thanks to regulated platforms such as Kraken, Gate.io, and Bitbuy. These exchanges provide Canadian traders with a gateway to investing in digital currencies. Kraken is the best option with its wide range of CAD deposits and transparent reserves. Gate.io follows with its extensive coin offerings, followed by Bitbuy, a local exchange based in Toronto.

These platforms are redefining the digital finance landscape in Canada by prioritizing robust security measures, extensive asset selection, and interfaces in English and French. Their focus on competitive fees and many investment opportunities has made them favorites among Canadian crypto enthusiasts.

Kraken Canada
Kraken Canada

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.5

Supported Assets

200+ Cryptocurrencies

Trading Fees

0.16% Maker Fees & 0.26% Taker Fees

The investment scene in Canada is diversifying, extending its reach beyond conventional assets to embrace cryptocurrencies. This new asset class allows for trading in major tokens like Bitcoin and Ethereum, all under the vigilant supervision of the Canadian Securities Administrators (CSA), ensuring each transaction is secure and compliant with the nation's regulatory framework.

More than just trading hubs, these exchanges are leading the charge in integrating innovative features such as staking, lending, and borrowing services, illustrating Canada's ambition to become a leader in the global crypto world. These platforms are tailored to cater to the diverse needs of investors.

Best Crypto Exchanges in Canada

We've identified the top crypto exchanges in Canada, known for their intuitive interfaces, stringent security protocols, and extensive range of investment options:

  1. Kraken - Leading Cryptocurrency Exchange in Canada
  2. Gate.io - Most Diverse Digital Asset Selection
  3. Bitbuy - Local Toronto-Based Cryptocurrency Exchange
  4. Bitstamp - Great Platform for Institutional Investors
  5. Shakepay - Good Local Exchange for Buying Bitcoin 

1. Kraken

Founded in 2011, Kraken has established itself as a formidable force in the Canadian cryptocurrency market, known for its transparent reserves and feature-rich platform. Kraken caters to Canadian users with an extensive selection of CAD deposit methods, a French and English user interface, plus live customer support in both languages. Here are some of its key offerings:

  • Wide Cryptocurrency Range: Supports over 200 cryptocurrencies across both spot and futures markets with leverage options up to 5x on derivatives, enabling varied trading strategies.
  • CAD Deposit Methods: Accepts CAD through Interac e-Transfer, wire transfer, debit cards, and credit cards, simplifying transactions for Canadian users.
  • Fee Structure: Offers competitive fees, with maker fees starting at 0.16% and taker fees at 0.26%, providing users with competitively low prices.
  • Security and Transparency: Conducts regular third-party audits to verify the exchange's asset reserves, enhancing user trust by proving all assets are backed on a 1:1 basis and accessible 24/7.
  • Staking Services: Provides staking opportunities with APY up to 10%, allowing users to earn yields on 17 cryptocurrencies, including Ethereum, Cardano, Polygon, and Tron.

Kraken's dedication to security and its comprehensive offerings make it an excellent choice for Canadian crypto enthusiasts seeking a trustworthy trading platform.

2. Gate.io

Gate.io, launched in 2013, is celebrated for its vast selection of digital assets, making it a haven for Canadian traders seeking diversity in their cryptocurrency portfolios. It stands out in the Canadian market with an intuitive platform and many services, from staking services to an NFT marketplace. Below is a detailed summary of Gate.io’s key features:

  • Expansive Cryptocurrency Portfolio: Offers access to over 1,700 cryptocurrencies, from popular stablecoins to meme coins, altcoins, dog coins, NFT coins, Metaverse coins, GameFi tokens, and more.
  • CAD Deposit Options: Facilitates CAD deposits via bank transfers, credit cards, and e-wallet options like Apple Pay and Google Pay, ensuring accessibility for Canadian users.
  • Competitive Fee Structure: Features a low fee model with maker fees of 0.03% and taker fees at 0.08% for futures and an affordable 0.2% for spot trading, promoting an affordable trading experience.
  • Unique Services: Includes a range of services like margin and futures trading, a demo account, copy trading services, crypto loans, a crypto card, and a dedicated NFT marketplace.
  • Multilingual Interface: Provides both live customer support and an interface in English and French, making it ideal for Canadian investors.

Gate.io's extensive asset selection and user-friendly features make it a top destination for Canadians looking to diversify their crypto investments.

Gate.io

3. Bitbuy

Bitbuy, established in 2016 and based in Toronto, resonates with Canadian crypto traders for its local presence, straightforward interface, and reliable services. Bitbuy emphasizes ease of use, making it a favorite among both beginners and experienced traders in Canada. Here are some of the main features of the exchange:

  • Cryptocurrency Support: Lists 45 carefully selected cryptocurrencies, focusing on quality and demand.
  • CAD Deposit Methods: Allows CAD deposits through Interac e-Transfer, bank wire, and credit or debit cards, providing convenience for local users.
  • Transparent Fee Schedule: Adopts a clear fee policy, with trading fees starting at 2% for both makers and takers. The spot trading fee is also 2% and deposit methods vary between 0% - 2.95%.
  • Staking Services: Earn up to 11.23% APY by staking your assets with Polkadot, Ethereum, Polygon, Cardano, Near, Cosmos, Solana, and Injective supported.
  • Regulatory Compliance: The Ontario Securities Commission and the Canadian Securities Administrators approved it as the first Canadian marketplace for crypto assets, and it is registered with FINTRAC.

Bitbuy's commitment to providing a secure and compliant trading environment makes it a standout choice for Canadians seeking a reliable local exchange.

4. Bitstamp

Bitstamp, founded in 2011, is renowned for catering to institutional investors in Canada, offering a robust platform equipped with advanced trading tools and a focus on security. Its global presence and professional-grade services make it a preferred choice for serious investors. Bitstamp’s features include:

  • Institutional-Grade Services: Specializes in services for institutional investors, including dedicated support for users making trades over $100,000 CAD and advanced trading interfaces.
  • Cryptocurrency Variety: Supports around 85 major cryptocurrencies, ensuring institutional investors have access to key markets.
  • CAD Transactions: Enables CAD deposits through bank transfers, credit cards, and Interac e-Transfer, accommodating Canadian institutional investors.
  • Fee Transparency: Provides a competitive and transparent fee structure starting from 0.6% that gets significantly lower the higher your monthly trading volume is, tailored for high-volume trading.
  • Global Licensing: Holds licenses in multiple jurisdictions, including the CSA and FINTRAC, ensuring a regulated and secure trading environment for Canadian users.

Bitstamp's focus on institutional investors and its comprehensive suite of professional services make it an ideal platform for serious Canadian traders.

Bitstamp

5. Shakepay

Established in 2015, Shakepay is a Canadian exchange specializing in Bitcoin and Ethereum. It is known for its ease of use and innovative features, such as the Shakepay card. It's popular among beginners for its straightforward approach to crypto trading. Here are the main features:

  • Focused Cryptocurrency Offering: Primarily supports Bitcoin and Ethereum, catering to users interested in the most prominent digital currencies.
  • Simple CAD Deposits: Accepts CAD through Interac e-Transfer, credit cards, and wire transfers making it highly accessible for Canadians to buy and sell crypto.
  • Zero Fee Structure: Unique in offering commission-free trades, allowing users to trade without worrying about costs. However, there is a spread applied on each trade, which varies from 2% - 4%.
  • Shakepay Card: Introduces a Visa debit card that converts crypto to CAD in real-time, providing additional utility for users. This allows users to spend BTC and ETH on real-world transactions like online shopping and bills.
  • Community Features: Engages users with daily Bitcoin rewards for engaging with the app, fostering a vibrant community.

Shakepay's user-friendly platform and community-focused features make it a go-to choice for Canadians, especially beginners looking to venture into Bitcoin and Ethereum trading.

What is a Cryptocurrency Exchange?

In Canada, cryptocurrency exchanges are pivotal online platforms where individuals can buy, sell, and trade digital currencies. They serve as the entry point for newcomers to the crypto world and provide advanced tools for seasoned investors to engage in in-depth market analysis and execute strategic trades.

Canadian traders typically favor platforms that support transactions in Canadian Dollars (CAD) and offer various payment options, ensuring smooth and convenient financial transactions. Key considerations when selecting an exchange include transaction fees, security protocols, the diversity of available cryptocurrencies, and the quality of customer support.

Who Regulates Crypto Exchanges in Canada?

The Canadian Securities Administrators (CSA) oversees the regulation of cryptocurrency exchanges in Canada. This regulatory body ensures that exchanges comply with stringent legal frameworks, focusing on Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. The overarching aim of this regulatory oversight is to protect investors and maintain the integrity of the crypto market in Canada.

The CSA plays an essential role in setting the guidelines and regulatory standards for the crypto industry, which includes granting operational licenses and conducting ongoing surveillance of exchanges. These platforms must implement thorough customer verification processes to mitigate risks associated with financial crimes. Through such diligent regulatory practices, Canada aims to create a secure and trustworthy environment for crypto trading, encouraging innovation and growth within this sector.

Our Methodology

At StacksOnChain, we've crafted a comprehensive editorial process for Canada's crypto market. Our mission is to provide unbiased, detailed insights to enhance investment decisions grounded in a firm commitment to editorial integrity. This process involves a side-by-side comparison of the top 25 exchanges, including genuine user feedback, direct platform testing, recent updates, and expert opinions from the field.

Our aim is to showcase the top five trading platforms in Canada, presenting options that resonate with your investment objectives. This endeavor promises clear, trustworthy guidance to simplify your search for the perfect exchange.

Closing Thoughts

After thoroughly reviewing over 20 prominent cryptocurrency exchanges in Canada, especially those accommodating CAD deposits, we've highlighted the top five platforms renowned for their exceptional service quality, advanced security measures, and straightforward interfaces. These exchanges, including Kraken, Gate.io, Bitbuy, Bitstamp, and Shakepay, are revolutionizing how Canadians interact with digital currencies.

Author

Nick Ng is a skilled analyst at StacksOnChain with expertise in both cryptocurrencies and traditional finance. His research offer valuable insights into market trends and investment opportunities for readers.

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