Over recent years, cryptocurrencies have established themselves as legitimate investment assets. Major tokens like Bitcoin and Ethereum now boast market capitalizations rivaling those of top Fortune 500 companies. For Canadians looking to enter this dynamic market, selecting the right trading platform is a critical first step.
Crypto exchanges allow users to deposit fiat currencies or other cryptocurrencies to directly buy and sell digital assets. When choosing a platform, it’s essential to consider the range of tradable assets, fee structures, deposit and withdrawal options, and—given the digital and volatile nature of crypto—robust security measures.
This guide walks you through the fundamentals of selecting a Canadian crypto exchange and provides an in-depth review of leading platforms available in 2025.
Leading Crypto Trading Platforms in Canada
Here is a curated list of the top cryptocurrency exchanges accessible to Canadian investors:
- CoinSmart
- Newton
- Shakepay
- Netcoins
- WealthSimple Crypto
- VirgoCX
- Coinbase
- Bitbuy
- NDAX
- Coinberry
- Crypto.com
- Coinsquare
- Bitvo
CoinSmart
CoinSmart is a full-service Canadian cryptocurrency exchange, now part of Bitbuy, serving investors in Canada and Europe with plans for further international expansion. The Toronto-based company is publicly traded, adding a layer of corporate accountability.
The platform is designed for ease of use, catering to both beginners and advanced traders. Its tiered account system includes Smart Trade for newcomers, Advanced Trade for experts trading over $25,000, and an OTC market for large-volume "whale" traders.
It supports 16 major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana, and Cardano. A standout feature is its 24/7 customer support via live chat. Security is a top priority, with the vast majority of digital assets held in offline cold storage. Deposit methods include bank wire transfers, crypto transfers, and Interac e-Transfer.
For businesses, CoinSmart offers SmartPay, a technology enabling merchants to accept cryptocurrency payments. Its fee structure is transparent: a 0.20% fee on single trades and 0.30% on double trades. Additional fees apply for certain deposit and withdrawal methods.
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Newton
Founded in 2018 and based in Toronto, Newton is a popular Canadian crypto platform. It is not a full exchange with crypto-to-crypto trading pairs but allows conversion between fiat and over 70 cryptocurrencies.
The platform is known for its simplicity and continuous improvements. It boasts no transaction, deposit, or withdrawal fees, instead generating revenue through a bid-ask spread of up to 2%. A significant benefit is that Newton covers up to $5 in network gas fees for crypto transfers.
Security measures include daily offsite backups and storing assets in institutional-grade offline cold storage. However, customer support relies primarily on an AI chatbot, FAQ guides, and social media communities, with limited access to live agents.
Shakepay
Established in 2015 in Montreal, Shakepay is one of Canada's more veteran platforms, with over a million users and $7 billion in transactions. It uniquely focuses only on Bitcoin and Ethereum, positioning itself as a digital finance platform rather than a full exchange.
Its ecosystem includes a Visa Debit card and a social feature allowing users to send crypto or fiat to others via a unique @Shaketag. Users can also earn small amounts of Bitcoin daily through a "shake" feature on the app.
Like Newton, it has no explicit trading fees but uses a bid-ask spread (up to 3%). All crypto assets are held in fully insured offline cold storage. Customer support is available during Canadian business hours via chatbot, email, or social media.
Netcoins
Netcoins began as a Bitcoin ATM company in 2014 and has evolved into a user-friendly crypto platform aimed at new traders. Now part of the publicly traded BIGG Digital Assets, it offers trading for 36 cryptocurrencies.
The platform keeps things simple with no advanced features like staking. Its fee structure is straightforward: a flat 0.5% transaction fee on every trade, with no additional fees for deposits or withdrawals beyond standard network gas fees.
Security is robust, with assets held in offline cold storage insured by BitGo. The platform is registered with FINTRAC, ensuring compliance with Canadian financial regulations. Support is offered via an AI-powered chatbot and email.
WealthSimple Crypto
Wealthsimple Crypto is the digital asset division of the popular Canadian discount brokerage owned by Power Corporation of Canada. Integrated into the broader Wealthsimple investing app, it has become a favorite for new and younger investors due to its zero-commission model.
The platform supports trading for up to 57 cryptocurrencies. It offers a simple, highly-rated interface on both desktop and mobile. Assets are held in offline cold storage by Gemini Trust Company LLC and are insured for up to $200 million.
While there are no explicit fees, the platform uses a bid-ask spread of 1.5% to 2.0% to generate revenue, which can become significant for large-volume trades.
VirgoCX
This Toronto-based exchange, founded in 2018, offers a selection of 60 cryptocurrencies. It caters to all levels of traders, from beginners to advanced users and OTC "whales," the latter of whom receive a personal account manager through the Virgo CX Wealth service.
VirgoCX uses Coinbase Custody for storage, with assets insured for up to $1 million. The platform is fully registered with FINTRAC and PIPEDA. Transaction fees are competitive (up to 0.95%), and there are no fees for fiat deposits or withdrawals, though minimum values apply.
Coinbase
As the largest U.S.-based exchange, Coinbase is a global giant with over 103 million users. It offers a vast array of services, including trading for over 100 tokens, staking, and NFTs.
The platform uses a maker-taker fee system, where fees decrease with higher trading volumes. A key limitation for Canadians is that it does not accept Interac e-Transfer. Security is exceptional, with the majority of assets in insured cold storage and a record of never being hacked.
Bitbuy
Founded in 2016, Bitbuy is a well-known Canadian exchange with over 400,000 users. It is registered with FINTRAC and approved by the Ontario Securities Commission. It supports 25 cryptocurrencies and offers multiple account tiers: Express, Pro, Corporate, and Private Wealth.
It employs a bid-ask spread system with a 0.20% trading fee, plus fees for certain deposits and withdrawals. An impressive 99% of assets are held in insured cold storage. It also provides an API for enterprise clients.
NDAX
Based in Calgary, NDAX is a Canadian platform that supports trading for over 30 cryptocurrencies and is one of the few in the country to offer staking, with yields of up to 12%.
It charges a flat 0.20% transaction fee, with no deposit fees but some fees and restrictions on fiat withdrawals. Security is a priority, with billions held in offline cold storage. The platform is registered as a Money Service Business (MSB) with FINTRAC.
Coinberry
Acquired by WonderFi Technologies Inc. and backed by investor Kevin O'Leary, Coinberry has over 220,000 customers. Aimed at new traders, it supports over 35 cryptocurrencies and focuses on providing simple, accessible blockchain investing.
Crypto.com
This Singapore-based global behemoth serves over 50 million users. It offers a complete ecosystem including its own blockchain (Cronos), a native token (CRO), staking, derivatives, and a Visa Debit card.
Fees follow a maker-taker model based on 30-day trading volume and can be reduced by staking CRO. Security is top-tier, with 100% of assets in insured cold storage and 24/7 multilingual customer support.
Coinsquare
One of Canada’s oldest exchanges, founded in 2014, Coinsquare has over 500,000 users and offers 40 cryptocurrencies. It provides three account tiers: Trade, Pro, and Wealth for OTC clients.
It holds 99% of assets in cold storage and offers rare 24/7 support in the Canadian market. Fees vary by account type, from a bid-ask spread for basic accounts to maker-taker fees for Pro users.
Bitvo
This Alberta-based platform was acquired by FTX and currently supports 11 cryptocurrencies. It also offers a pre-loaded Visa Debit card linked to user accounts. It uses a bid-ask spread for fees and charges a 1.0% withdrawal fee for fiat.
How to Select the Right Crypto Exchange in Canada
Choosing the best platform requires careful consideration of your needs. Here’s a checklist to guide your decision:
- Supported Assets: Does the exchange offer a diverse range of cryptocurrencies that match your investment strategy?
- Fee Structure: Understand how fees are calculated. Fixed percentage fees can be more transparent than variable bid-ask spreads for active traders.
- Security & Storage: Ensure the platform uses cold storage for the majority of assets and has a strong security protocol and insurance.
- Customer Support: Crypto markets operate 24/7. Does the exchange offer timely support when you need it?
Understanding Crypto Regulation in Canada
Cryptocurrency trading is completely legal in Canada. The Canada Revenue Agency (CRA) treats it as an alternative investment asset, meaning any capital gains or losses must be reported on your annual tax return.
Exchanges are required to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and comply with regulations set by the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC).
Pros and Cons of Using Crypto Exchanges
Pros:
- Accessibility: Canadian platforms often support easy deposit methods like Interac e-Transfer.
- Variety: Offers access to a wide range of digital assets beyond just Bitcoin and Ethereum.
- Advanced Features: Many exchanges now offer staking, earning interest, and other financial services.
Cons:
- Volatility: Cryptocurrencies are inherently high-risk and volatile investments.
- Hidden Costs: "Zero-fee" trading often incorporates costs through the bid-ask spread.
- Technical Risk: The digital nature of assets means security is paramount; always use platforms with strong safeguards.
This article is for informational purposes only and should not be considered financial advice. Always conduct your own research before investing.
Frequently Asked Questions
What is the best platform in Canada to buy and sell cryptocurrency?
Based on a combination of transparent fees, strong security, asset variety, and reliable customer support, CoinSmart is a top choice for both beginners and experienced traders in Canada.
Which crypto exchanges are not available in Canada?
Some prominent international platforms like eToro, Venmo, and Cash App are currently not available to Canadian residents.
Which crypto exchanges have the lowest fees?
Exchanges like Netcoins offer low, flat transaction fees (0.5%). Platforms like Newton and Wealthsimple Crypto have no explicit trading fees but incorporate a cost through the bid-ask spread. High-volume traders often qualify for lower fees on pro-tier platforms.
What is the best app to get crypto in Canada?
The best app depends on your needs. For a full trading experience, consider CoinSmart or Newton. For simple Bitcoin and Ethereum purchases, Shakepay is a strong option. For those already in the Wealthsimple ecosystem, Wealthsimple Crypto offers seamless integration.