Best Canadian Crypto Exchange: What to Choose in 2022?

Thinking of dipping your toes in the exciting pool of cryptocurrency? As much fun as it can be, online investing is not for the faint of heart. After all, it’s an overall fragile system where your hard-earned money can suddenly disappear if you’re not careful.

This is why it’s critical that you thoroughly consider your options and sift through our top picks for the highly prestigious title of best Canadian crypto exchange. We’ll be taking a look at the potential gains, the fees, the available methods of payment, as well as the safety and security of each platform.

Best Canadian Crypto Exchange: A Sneak Peak

Rank Provider Rating




Minimum Deposit

(in CAD)

1. 9.8/10

Best Overall

  • 250+ cryptocurrencies listed
  • Earn up to 5% back with Visa Card spending
  • Receive up to 14.5% rewards by growing your portfolio
  • Great order book liquidity

(Visit Site)

2. Bitget 9.7/10

Best for Rewards

  • Weekend bonuses
  • Group purchase discounted crypto
  • Earn daily commission
  • Futures and Spot Grid trading

(Visit Site)

3. Binance 9.5/10

Best for Beginners

  • 600+ currencies available
  • Advanced trading tools
  • Fan token NFTs for greater rewards
  • Convenient conversion feature

(Visit Site)

4. Kraken 9.4/10

Best for Margin Trading

  • Low spreads per trade
  • High rate limits with low latency API
  • Trade across different exchanges using one platform
  • Margin trading with up to 5x leverage

(Visit Site)

5. Uphold 9.2/10

Best for Desktop Users

  • Get 19.5% APY on your crypto
  • Automatic trading features
  • No trading commissions
  • Up to 50 limit orders

(Visit Site)

6. Coinmama 9/10

Best for Quick Trading

  • High spending limits
  • Quick account set-up and verification
  • Available in 188 countries
  • Multiple payment options

(Visit Site)

7. Coinbase 8.9/10

Best for Advanced Trading

  • Schedule recurring buys
  • Comprehensive portfolio management
  • Earn up to $7 worth of crypto through trading
  • Vault protection for added security

(Visit Site)


7 Best Canadian Crypto Exchanges

Even the most experienced investors can find the process of choosing the ideal Canadian crypto exchange to be daunting. Some are more suitable for beginners, while others target more experienced users. Check out our top picks to help get you started on your investment journey.

1. – Best Overall


  • Rating: 9.8/10
  • Trading Fees: Vary based on the amount
  • Bank Wire Deposit: $0
  • Bank Wire Withdrawal: Variable
  • INTERAC Deposits/Withdrawals: $0/Variable
  • Sign-up Bonus: $25

From its early onset in 2016, has paved the way as a reliable and user-friendly platform. Its ample selection of assets, including Bitcoin, Ethereum and Dogecoin, offers a vast ground for users to explore and invest.

You may be interested: How to Buy Ethereum in Canada?

You can sign-up either through the service’s website or its dedicated app, which is available for both iOS and Android users. The UI on both platforms is sleek and straightforward, so you won’t have trouble finding your way around. Plus, their state-of-the-art encryption technology ensures that your data and assets are well-protected against potential cyber threats.

If you happen to run into any issues, has a highly responsive customer service team available 24/7. You can reach out to them through the in-app chat feature or by visiting their help centre for a more detailed explanation.

For the most part, is a dependable and easy-to-use service that’s perfect for both beginners and seasoned investors. If you’re looking for a challenge, this platform might be exactly what you need.


  • Reasonable fees
  • Competitive user benefits and rewards
  • Simple interface


  • Limited educational programs
  • Cashback rewards are paid off in CRO

2. Bidget – Best for Rewards


  • Rating: 9.8/10
  • Trading Fees: 0.020% maker fee/ 0.060% taker fee
  • Bank Wire Deposit: $0
  • Bank Wire Withdrawal: Variable
  • INTERAC Deposits/Withdrawals: Variable
  • Sign-up Bonus: $3 KYC coupon/$4.000 trial fund

Established in 2018, Bidget is a Canadian-based crypto provider that’s quickly made a name for itself in the competitive industry. Its ever-expanding list of currencies includes Bitcoin, Litecoin, Polkadot and Ethereum, amongst others.

The application process involves completing a short form with your personal information and successfully verifying your identity. Once that’s done, you’ll be able to start trading right away, either through the desktop website or the Bitget app. The interface is uncomplicated and easy to navigate, even for first-time users.

One of the biggest selling points of Bitget is its competitive list of rewards. You can receive coupons for various activities, such as futures, copy and spot trading, as well as a first deposit bonus.

Unfortunately, customer support is only available via email, so you might have to wait a while for a response. This might be off-putting for some users, but the team is polite and helpful once you do get in touch.


  • Comprehensive list of rewards
  • Low-risk futures trading
  • Earn interest on your investments


  • Limited customer service
  • Lack of instructional content

3. Binance – Best for Beginners


  • Rating: 9.8/10
  • Trading Fees: Variable
  • Bank Wire Deposit: $0
  • Bank Wire Withdrawal: Variable
  • INTERAC Deposits/Withdrawals: None/Variable
  • Sign-up Bonus: $50

Considered one of the leading names in the crypto space, Binance was first launched in 2017 a as booming and innovative platform. On par with the growth of the company itself, the currency exchange has seen a steady increase in trade volume and assets over the years, with honourable mentions including Project Galaxy, Bitcoin, Ethereum and Litecoin.

Any Binance review will tell you about the simplicity of the sign-up requirements- all you need is a valid email address. Once you’re in, feel free to take advantage of the many features at your disposal, regardless of whether you’re at home or on the go. The Binance app is just as accessible as the web companion.

Should you have some trouble along the way or need clarification on a certain process, you can contact customer support through the in-app live chat feature or check out their blog and FAQ section.

Given the extensive educational content available on the site, the platform easily outshines its competition when it comes to beginner-friendly features. You have the chance to learn about the different types of orders, how to use stop-limit functions and what margin trading is before you even start investing.


  • Low commission trading
  • Extensive advanced trading tools
  • Earn rewards by holding coins and tokens


  • History of hacking incidents
  • Lacks regulation transparency

4. Kraken – Best for Margin Trading


  • Rating: 9.8/10
  • Trading Fees: Variable
  • Bank Wire Deposit: $0
  • Bank Wire Withdrawal: Variable
  • INTERAC Deposits/Withdrawals: None/Variable
  • Sign-up Bonus: None

One of the longest-standing crypto exchanges in the industry, Kraken was founded all the way back in 2011. In that time, it’s managed to cement its reputation as one of the best exchanges for crypto in Canada. The list of assets supported includes Polygon, Polkadot, Ethereum and Litecoin, in addition to others.

Creating accounts is mainly a hassle-free process, although you will need to go through a more in-depth verification step than some of the other options. Whether this is an issue or not will depend on your level of comfort with providing personal information.

Overall, the UI is quite playful and vibrant without being too overwhelming. It’s easy to find your way around and execute the trades you want without any trouble. You can also take advantage of the Kraken app for trading when you’re on the move.

Moreover, Kraken reviews have praised the support team and its promptness in solving customer queries. You can contact them via email or live chat, and they’ll usually get back to you within a few hours at most.

But it’s Kraken’s 5x leverage margin trading that’s really cracking. This allows you to essentially trade with 5 times the amount you have in your account, allowing for some serious profit potential.


  • Responsive customer support
  • Minimal trading fees
  • Margin trading benefits


  • Complex verification
  • No sign-up bonus

5. Uphold – Best for Desktop Users


  • Rating: 9.8/10
  • Trading Fees: None, replaced by a spread
  • Bank Wire Deposit: None
  • Bank Wire Withdrawal: None
  • INTERAC Deposits/Withdrawals: None
  • Sign-up Bonus: None

Another veteran in the field, this 2013-founded exchange has managed to keep up with the times and remains one of the best crypto exchanges for Canadians. It boasts over 130 digital assets, with popular options such as Bitcoin, Dash, Digibyte and Decred.

Setting up your profile includes the usual verification process, which shouldn’t take more than a few minutes. When you’re in, you’ll notice that the interface is quite organized and streamlined, with all the essential information front and centre. While this doesn’t necessarily translate well with the Uphold app, it’s still a valid form of digital trading.

In addition, Uphold reviews waste no time praising the service for being one of the first digital currency trading companies to be certified by PCI/DSS. This means that your personal and financial information is always safe and secure.

If you need to contact the team regarding specific issues, you can only do so through email. Some consider this to be a bit of a drawback, as it’s not the most immediate form of customer support.


  • Transparent fee structure
  • Schedule recurring buys
  • Simple trading between any asset


  • No advanced trading options
  • Underwhelming mobile compatibility

6. Coinmama – Best for Quick Trading


  • Rating: 9.8/10
  • Trading Fees: 0.99% to 3.90%
  • Bank Wire Deposit: None
  • Bank Wire Withdrawal: None
  • INTERAC Deposits/Withdrawals: None
  • Sign-up Bonus: up to 30% commission on all of your referral’s purchases

Despite its age (it was founded all the way back in 2013), Coinmama is a fast-paced crypto exchange that’s suitable for both beginners and more experienced individuals. The platform allows you to buy, sell and trade a variety of digital assets, such as Bitcoin, Ethereum, Litecoin and Ripple.

When you’ve set up your email and password, you’re thrust into a minimalist, blue-and-white interface that’s quite easy to get the hang of. The Coinmama app can only be installed on Android devices as of now, with an iOS version supposedly in the works.

The service is registered with both FinCEN and FINTRAC, which are strict financial regulators that oversee the crypto industry. This should give you some peace of mind in knowing that your money is always safe.

On the off chance you come across certain challenges or have questions that need answering, you can always reach out to the customer support team. Coinmama reviews claim the live chat option is available 24/7, and you can expect a quick response.


  • No deposit or withdrawal fees
  • Great safety features
  • Efficient trading interface


  • No iOS companion
  • A smaller selection of digital assets

7. Coinbase – Best for Advanced Trading


  • Rating: 9.8/10
  • Trading Fees: between 0.05% and 0.60%
  • Bank Wire Deposit: $1
  • Bank Wire Withdrawal: $1
  • INTERAC Deposits/Withdrawals: $1
  • Sign-up Bonus: $5 in BTC

Another platform with rich history and background, Coinbase was founded in 2012 and has since turned into one of the best cryptocurrency trading platforms in Canada. The pool of options encompasses familiar names such as Bitcoin, Ethereum, Cardano and Solana.

Getting started is as simple as verifying your email and setting up a strong password. After that, you’re given a clear overview of the platform and its features. The Coinbase app is also easy to use and comes with all the bells and whistles you need for an enjoyable trading experience.

Coinbase reviews list security as one of the main reasons users keep returning. The platform uses complex encryption technology and stores the vast majority of digital assets in offline wallets. Moreover, all sensitive data is heavily guarded both physically and digitally.

Should you need assistance, the customer support team can be contacted through phone, email or live chat. Regardless of what method you choose, you can always expect a quick and insightful response.

All in all, Coinbase’s advanced trading features really come in handy for those who want to take their online exchange to the next level. You can effectively manage and grow your portfolio with ease, which is always a plus.


  • Greater diversity for advanced traders
  • High-security features
  • Good rewards program


  • Higher minimum deposit
  • Confusing fee system

How do Cryptocurrency Exchanges Work?

The best crypto exchanges in Canada (and anywhere else, for that matter) all work in a similar fashion. Their main purpose is to serve as an intermediary between buyers and sellers of digital assets.

The currencies are stored in so-called wallets, which can be either hot (online) or cold (offline). When you want to buy or sell a certain amount of Bitcoin, for example, the order is matched with another user who wants to do the opposite. The trade is then carried out automatically.

This process is known as decentralized peer-to-peer trading and doesn’t require any third-party involvement. You’re essentially dealing directly with the other person, without having to go through a bank or another financial institution.

How to Choose the Best Cryptocurrency Exchange for You

If you haven’t made up your mind on what’s the best crypto exchange in Canada for you, here’s a list of factors you should always take into consideration:



Make sure the platform is registered with either FinCEN or FINTRAC. These are the two main financial regulators in the country that oversee the crypto industry.

Tradable Cryptos

Not all exchanges offer the same digital assets. Some might only deal in Bitcoin, while others also allow you to trade Ethereum, Litecoin, etc. Choose an exchange that lists the coins you’re interested in.

You may be interested: Next Cryptocurrency to Explode in 2022

Sign-up Offers

Many exchanges will offer you a sign-up bonus in the form of free coins or a matching deposit. This is usually given as an incentive to get more people on board. Whether or not you should take advantage of such offers is up to you.


Different exchanges charge different fees for their services. Some might have a flat rate, while others use a variable fee structure based on the amount being traded. Compare the fees charged by different platforms before making your final decision.

Tools & Features

In most cases, the more tools and features an exchange offers, the better. Look for platforms that provide advanced charting tools, price alerts, a mobile app, etc. These can all come in handy when trading cryptocurrencies since the market is notoriously volatile.


This is perhaps the most important factor to consider, as you don’t want to end up losing your precious coins to hackers. Make sure the exchange uses complex encryption technology and stores the majority of its assets in offline wallets.

Payment Methods

Ideally, you should choose an exchange that allows you to deposit and withdraw funds using multiple methods. This includes both traditional options (e.g. bank transfers, credit cards and debit cards) and newer ones (e.g. e-wallets, crypto cards).

Customer Service

This is basically the link between you and the exchange. If something goes wrong or you need assistance with something, you’ll have to rely on customer support. That’s why choosing an exchange with a good reputation in this department is important.

User Interface

Last but not least, the user interface is also an important consideration. After all, you don’t want to be constantly struggling to figure out how the platform works. Try to find a platform that isn’t cluttered or overly complicated.

How to Use a Crypto Exchange

It doesn’t matter which services you decide to use, as the process of buying and selling cryptocurrencies is more or less the same on all platforms. Here’s a quick rundown of what you need to do:

Step 1: Open an Account

This should be pretty self-explanatory. Just go to the website of the exchange you’ve chosen and sign up for an account. You’ll usually have to provide some basic personal information, such as your name and email address.

Step 2: Verification

Most exchanges will require you to verify your identity before being able to trade. This is done to comply with KYC/AML regulations. The process usually involves uploading a copy of your ID and/or completing a video verification.

Step 3: Deposit Funds

Once you’re verified, you can deposit funds into your account. As mentioned before, different exchanges accept different payment methods. Choose the one that’s most convenient for you and make a deposit.

Step 4: Buy Crypto

Once the funds have been deposited, you’re ready to start buying cryptocurrencies. Simply select the coin you want to buy and enter the amount. The transaction should be completed instantly. And that’s it! You’ve now bought your first digital asset.

Finishing Thoughts

For the most part, using a cryptocurrency exchange shouldn’t be too difficult. Make sure to research and choose a platform that corresponds with your needs and preferences. And always remember to practice good security habits, such as storing your coins in a secure wallet.


What crypto exchanges are legal in Canada?

All of the major exchanges are legal in Canada. This includes Coinbase, Binance, Kraken, and others.

What is the best Canadian crypto exchange?

This is a difficult question to answer, as there are many good exchanges out there. and Bitget are two strong contenders, despite being relatively new to the scene.

Which crypto exchange has the lowest fees in Canada?

Coinmama certainly has some of the lowest fees around, but there are other exchanges that are worth considering as well. Binance, for example, puts in a lot of effort to keep its fees as low as possible.

What are the safest cryptocurrency exchanges?

Platforms that offer insurance and have implemented strong security measures are generally considered to be the safest.

How do I avoid scams on cryptocurrency exchanges?

The best way to avoid scams is to thoroughly research the exchange before creating an account. In this way, you’re a step closer to using the best Canadian crypto exchange and keeping your funds safe.


Despite her formal background in linguistics, Maja has always been fascinated by the world of finance. She has spent years and years analyzing the market, including trades, investments, pitfalls to avoid as well as the stock exchange. As of recent, she has been studying some non-mainstream stocks in Canada. When I’m not immersed in numbers, I like to spend time with my dog and plan my next trip.

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