Best Crypto Exchange Canada 2022 – Top 5 Crypto Exchanges Compared


In order to buy digital assets like Bitcoin or Cardano, you will need to have an account with a trusted crypto exchange.

Your chosen exchange should support a wide range of markets, tools, and payment methods – and offer competitive trading fees.

In this guide, we compare the five best crypto exchanges in Canada for 2022 with in-depth reviews.

The Best Canadian Crypto Exchanges for 2022

Before we get to our comprehensive platform reviews, check out the below list of the best crypto exchanges in Canada:

  • Bitbuy – Overall Best Crypto Exchange Canada for 2022
  • Crypto.com – Popular Cryptocurrency Exchange in Canada for Diversifying
  • Binance – Lowest Fee Crypto Exchange for Trading
  • Coinbase – One of the Best Bitcoin Exchanges in Canada for Beginners
  • Kraken – Top Cryptocurrency Exchange in Canada for Margin Trading

As you can see from the above list, each crypto exchange in Canada will appeal to a specific type of investor. And as such, it’s important to read through our exchange reviews before choosing a provider.

The Top 5 Bitcoin Exchanges Canada Reviewed

For those looking to buy cryptocurrency in Canada, picking a top-rated and trusted exchange is an important first step.

In selecting the best crypto exchanges in Canada for our top-five list, we looked at everything from safety and trust, fees, and supported payment methods to mobile compatibility, customer service, and the end-to-end trading experience.

The results of our in-depth research process can be found in the reviews outlined below.

1. BitBuy – Overall Best Crypto Exchange Canada for 2022

BitBuy LogoBitBuy stands out as the overall best crypto exchange in Canada for several reasons. When choosing this crypto broker, you will be trading via a platform that has been approved by the Ontario Securities Commission and is registered with FINTRAC. This ensures that you can buy and sell crypto online in a safe way.

In addition to offering a secure customer experience, BitBuy stands out when it comes to user-friendliness. This is because you can instantly buy crypto in Canada via an Interac e-Transfer. And, when using this payment method, you only need to meet a minimum deposit of $50. This will appeal to first-time investors that wish to start off with small stakes.

Although conventional bank wires are also supported by BitBuy, this requires a deposit of at least $20,000. In terms of fees, Interac e-Transfer deposits cost just 1.5% – so a $50 transaction would yield a small charge of $0.75. This 1.5% fee will also kick in when you eventually cash out your BitBuy balance.

BitBuy Crypto Exchange

Trading fees, on the other hand, are significantly lower. For instance, on each buy and sell order that you place, you will pay a commission of just 0.20%. As such, that’s a fee of just $0.10 for every $50 traded. Although BitBuy is perfect for inexperienced traders, this crypto exchange also caters to seasoned investors through its Pro Trade platform.

This gives you access to charts provided by TradingView, so you can perform in-depth technical analysis with ease. When it comes to supported markets, BitBuy is home to 15 leading digital currencies as of writing. Additional tokens will, however, be added in the very near future.

In its current form, markets include Bitcoin, Ethereum, Litecoin, EOS, AAVE, Polkadot, Chainlink, SushiSwap, and more. Another key reason why we found that BitBuy is the overall best crypto exchange in Canada is that it offers superb customer support. This ensures that at any given time – 24/7,  you can receive assistance when needed.

Number of Cryptos 15
Fee Structure Fixed commission structure
Fee to Buy Bitcoin  0.2% per slide
Minimum Deposit $50

Pros

  • Approved by the Ontario Securities Commission
  • Registered with FINTRAC
  • Low deposit and trading fees
  • Supports Interac e-Transfer payments from just $50
  • 24/7 customer service

Cons

  • Just 15 digital currencies supported 
  • Bank wire payments require a minimum of $20,000

Cryptoassets are a highly volatile unregulated investment product. 

2. Crypto.com – Popular Cryptocurrency Exchange in Canada for Diversifying

crypto.com logoIf you’re thinking of buying a few different digital currencies with the view of diversifying your risk, Crypto.com is one of the best crypto exchanges in Canada for this purpose. At this platform, you can buy crypto across 250+ markets, which covers a great variety of projects.

For example, in terms of large caps, you’ll have access to Bitcoin, Ethereum, Cardano, Litecoin, Shiba Inu, Dogecoin, and more. If you’re also looking at DeFi coins, Crypto.com covers everything from Decentraland Compound, and Stratis to Maker, VeChain, and Polygon.

We also like that Crypto.com supports a wide range of stablecoins, which can come in handy when it appears that the broader markets are about to turn south. When it comes to trading fees, this will depend on a number of factors – such as if you are a market maker or taker and whether you hold any CRO tokens, which is the digital currency backed by Crypto.com.

crypto.com review

With that said, the most you will pay to buy Bitcoin and another supported digital asset for that matter is just 0.4%. Although this is slightly more expensive than the previously discussed BitBuy, this still only works out at $0.20 for every $50 traded. Deposit fees will vary depending on your chosen payment method, albeit, bank transfers are the cheapest option.

Debit and credit cards are supported too and are charged at 2.99% per transaction. We should note that the exchange is just one segment of the wider Crypto.com ecosystem. For example, the platform offers crypto interest accounts which, as the name implies, allows you to generate a yield on your digital currency investments.

The highest APY on offer is 14.5%, albeit the specific rate offered to you will depend on the crypto asset, lock-up term, and whether you are happy to stake CRO tokens. Another popular feature offered by Crypto.com is its trading app – which is compatible with both Android and iOS devices.

Number of Cryptos 250
Fee Structure Maker/taker commission model
Fee to Buy Bitcoin Maximum of 0.4% per slide
Minimum Deposit $20

Pros

  • Over 250+ crypto coins supported
  • Accepts debit/credit cards and bank transfers
  • Great reputation
  • Offers crypto interest accounts and lending services
  • Competitive fees

Cons

  • Visa and MasterCard deposit cost 2.99%
  • More suited to beginners

Cryptoassets are a highly volatile unregulated investment product. 

3. Binance – Lowest Fee Crypto Exchange for Trading

binance logoBinance stands out as one of the top crypto exchanges in Canada for low trading fees. Just like Crypto.com, this popular exchange offers a maker/taker model which promotes lower commissions when trading volumes increase or you hold the platform’s native token – BNB.

With that said, the most you will ever pay to buy and sell crypto at Binance is 0.10% per slide. And as such, that’s a fee of just $0.05 for every $50 traded. To get funds into your Binance account so that you can start trading crypto, you can use a debit/credit card, bank account transfer, or a direct digital asset deposit.

Fees will vary depending on your chosen payment method. With that said, if you wish to deposit Canadian dollars, you will first need to upload some ID as part of a KYC procedure. Nevertheless, Binance is typically suited to those that wish to actively trade crypto across a wide number of projects.

binance review

This is because you will have access to hundreds of crypto assets across more than 1,000 markets. And, if you wish to access more complex trading products – such as leveraged tokens or futures, Binance also has you covered. Binance also offers all of the tools that you need to try and predict the future direction of the market.

For example, you can access technical indicators, chart drawing tools, and real-time data provided by TradingView. In terms of safety, Binance is home to a good number of internal security features – such as two-factor authentication and a Safe Asset Fund for Users (SAFU), which is essentially a reserve pot set up to cover successful hacking attempts.

However, it must be noted that Binance is not licensed by any Canadian authorities – or any regulatory bodies for that matter. And as such, you do need to consider the risks of using an unregulated crypto exchange before opening a Binance account. Finally, Binance also offers crypto savings accounts across a huge selection of supported tokens.

Number of Cryptos 1,000+ markets
Fee Structure Maker/taker commission model
Fee to Buy Bitcoin Maximum of 0.1% per slide
Minimum Deposit Depends on payment method

Pros

  • Hundreds of coins across 1,000+ markets
  • Low commissions of just 0.10% per slide
  • Supports fiat money deposits and withdrawals
  • Great tools for advanced traders
  • One of the largest crypto exchanges for liquidity

Cons

  • Not regulated by any licensing body
  • Has previously been hacked

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Coinbase – One of the Best Bitcoin Exchanges in Canada for Beginners

coinbase logoAlthough Coinbase is somewhat lacking in tools and features – and charges some of the highest fees in this industry, the platform is still regarded as the best Bitcoin exchange in Canada for beginners. Crucially, even if you have never bought or sold crypto previously, you should find Coinbase easy to use.

To get the ball rolling, you can visit Coinbase and open an account in less than five minutes – which includes the process of uploading a copy of your government-issued ID. Then, you can buy cryptocurrency instantly with your regular debit or credit card. You will, however, pay a rather hefty fee of 3.99%.

The most cost-economical option is…



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