Founded in 2018, Bitget is a leading cryptocurrency exchange with various trading products, including copy trading, margin trading, and commission-free spot trading.
You cannot deposit Canadian dollars (CAD) directly, but you can deposit crypto for free, use a third-party bank transfer service or pay with a credit or debit card. Basically, you can but crypto via Canadian crypto exchange and then transfer it to Bitget.
Bitget is a reputable global crypto exchange available in most countries excluding the US, UK, Canada, and sanctioned countries. Bitget is a global exchange catering to skilled users and offers a vast selection of altcoins for Canadian crypto traders. Notably, Bitget stands out with its competitive trading fees of just 0.1%, which can be further reduced by paying with their token BGB.
While deposits in cryptocurrency are free, purchasing crypto with CAD requires a debit card or a third-party bank transfer service like Banxa. For this reason, using Bitget’s P2P marketplace is recommended where you can buy USDT in Canada with Interac e-transfer commission free and use it for trading crypto on the platform.
Compared to Bitbuy, it offers over 1000 cryptocurrency coins, so it is the perfect choice for people who like to invest in altcoins. While its platform is certainly not for beginners, once you get used to the advanced interface, Bitget offers so much that you will probably never look at another exchange again.
Pros:
Good for Canadians looking to buy and trade altcoins
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
BTCC is a registered exchange in the US, Canada, and Europe. Through the ups and downs of numerous market cycles, BTCC has supplied safe trading services with cutting-edge technology for the past 11 years.
The crypto industry is rapidly expanding as more individuals begin to spend their money and discover all the benefits it offers. Not only are new investors streaming in, but that existing investors are also looking for new methods to better their investment strategy.
Futures have become one of the most popular and effective tools at the disposal of crypto traders when it comes to techniques. The temptation of crypto futures is too powerful to ignore because they allow you to obtain more exposure to your favorite assets.
If you are wanting to learn about BTCC, chances are that you are interested in trading bitcoin futures. If this is the case, let us tell you all about BTCC, what it has to offer, and whether it is a good fit for you.
Purpose investments launched the world’s first Bitcoin ETF in February 2021.
Like purchasing popular commodity ETFs on the Toronto Stock Exchange (TSX) to gain exposure to the underlying commodity, e.g. Gold, the Purpose Bitcoin ETF provides exposure to actual Bitcoin.
Packaging cryptocurrency in an Exchange-Traded Fund makes it easier for retail investors to hold digital currency without worrying about losing their private keys or getting hacked.
It also means you do not need to open an account at a cryptocurrency exchange since the ETFs are available through your existing brokerage account.
Since the Purpose Bitcoin ETF (BTCC) was launched, many other crypto ETFs have been listed on the TSX.
In 2022, BTCC launched tokenized futures, an innovative product invented by the exchange, on its platform, allowing users to trade stocks and commodities futures with USDT as the margin.
Purpose Investments Cryptocurrency Portfolios
Purpose Investments was established in 2012. It offers several investment products utilizing alternative strategies and asset classes.
Two of its most popular funds are:
Purpose Bitcoin ETF (BTCC), and
Purpose Ether ETF (ETHH)
What is BTCC?
BTCC provides investors with an easy way to invest in Bitcoin by purchasing a publicly traded ETF. The fund carries a “high” risk rating and is unsuitable for all investors. This is because the price of the underlying bitcoin asset is volatile, with significant intraday increases or decreases in price.
BTCC is traded on the TSX under three different tickers: BTCC, BTCC.B, and BTCC.U. BTCC is purchased with Canadian dollars and is hedged against USD exposure. BTCC.B is also purchased using Canadian dollars; however, it does not hedge against USD fluctuations. BTCC.U is denominated in US dollars.
BTCC ETF Holdings
BTCC is 100% invested in “physically settled” Bitcoin. This means the ETF holds no other assets outside of bitcoin cryptocurrency. If your investment portfolio is 100% made up of BTCC, you are 100% invested in bitcoin, and your portfolio could experience significant declines if the asset falls in price.
BTCC’s bitcoin holdings are held in cold storage, keeping them safe and away from potential hacking attempts.
Pros and Cons of BTCC
Best For
Daily, weekly, and perpetual futures
Traders seeking leverage opportunities
Users that value reputation and a strong track record
New retail investors that prefer a straightforward and simple user interface
Pros
Easy to purchase and gain exposure to bitcoin, even if you are a newbie to cryptocurrency.
Sold on regulated brokerage platforms with access to the Canadian Investor Protection Fund (CIPF) protection if the brokerage becomes insolvent.
Can hold in registered investment accounts and keep gains tax-free.
The fund holds bitcoin assets in cold storage, removing the need to purchase your own hardware wallet.
Good liquidity makes it easy to sell your holdings when you want to. Largest variety of futures: Daily, Weekly, Quarterly and Perpetual futures
Cons
Volatile, risky asset and not for risk-averse investors.
Bitcoin in cold storage is still not 100% secured.
High management fees.
BTCC alone is not diversified and should be held as part of a wider portfolio.
Advanced functionalities limited to supported cryptocurrencies
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
Coinsquare is a popular cryptocurrency exchange in Canada founded in 2014, offering trading in Bitcoin, Ethereum, and several other coins such as Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Dogecoin (DOGE), Stellar Lumens (XLM), DASH, Bitcoin SV (BSV) and Ethereum Classic (ETC). Its headquarters is based in Toronto.
The platform offers more than just trading opportunities for everyday folks. It also has an Over The Counter (OTC) desk for large volume cryptocurrency trades ($25,000+) and dedicated account management via Coinsquare Wealth.
Pros and Cons of Coinsquare
Pros:
Has a good selection of coins including forks like Bitcoin SV and Ethereum Classic.
Quick verification for new accounts.
Industry average processing times for deposits.
User-friendly platforms for both newbies and pros.
Referral program.
Cons:
Accommodates only CAD fiat deposits.
Support is available from 9am-5pm EST Monday to Sunday (not 24/7).
Was penalized by regulatory authorities for fraudulent activity in 2020.
Not a member of IIROC or CIPF.
Coinsquare is a registered Money Service Business in Canada and it is required to comply with the regulatory framework put in place by FINTRAC (Financial Transactions and Reports and Analysis Centre of Canada).
Coinsquare has a referral program that pays you up to 45% commission on their fees. Your referral (friend) receives $10 in BTC when they fund their account with at least $100.
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
This Toronto-based fintech continues to attract Canadian investors with its low-fee robot advisor, discount brokerage and money management services.
Since launching in 2014, Wealthsimple has developed a strong reputation for offering online, easy-to-use, low-fee financial services. It has come a long way since its humble beginnings exclusively as a robot advisor, now known as “Invest”.
If you have used Wealthsimple in the past or used some of its products, know that while Invest, Trade and Cash were offered under separate apps, they are now all part of just one Wealthsimple app, which has made the user experience more convenient. Only Wealthsimple Tax maintains a separate app/platform.
Both Wealthsimple Invest and Wealthsimple Trade are excellent low fee investment options. Choosing between the two services comes down to three factors:
How confident you are in managing your money on your own.
How much time and effort you want to put into managing your investments.
Whether you are willing to pay higher fees for a truly hands-off option.
If you are not interested in choosing your own investments, “Invest” is Wealthsimple’s robot advisor, and it could be the way to go for you. Once you create an account, you will be recommended with one of three diversified portfolios of exchange-traded funds (ETFs) based on suitability factors such as your financial goals and risk tolerance. pretty much everything is on autopilot once you fund your account.
The robot advisor service from Wealthsimple is ideal for novice investors or those who are not comfortable managing their own investment portfolio. The algorithm recommends a portfolio for you based on your financial goals and risk tolerance.
Clients spend a few minutes answering questions online about their comfort level with risk, age, and investment goals. Your answers determine which portfolio is recommended: Conservative, balanced or growth.
About Wealthsimple Crypto exchange
Wealthsimple is a reputable company that makes it easy for Canadians to invest in cryptocurrency. It is one of the best crypto exchanges in Canada. In one year, they have increased the number of cryptocurrencies available and in future they will allow customers to move crypto to private wallets. Wealthsimple is fast becoming a great place to trade crypto, but their fees are some of the highest around. If you do not mind dealing with seed phrases and you are looking to buy a large amount of crypto, then it would be far cheaper to use a traditional crypto exchange. However, if you are looking to invest a little bit of money, want to keep all your investments in one place, or just want an easy and secure way to gain exposure to crypto, then Wealthsimple is a good choice.
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
Virgo CX is a Canadian cryptocurrency exchange that was founded in 2018. Virgo CX is based in Ontario and offers Canadians an easy way to trade crypto. We tested Virgo CX to see if it is worth using in 2024.
Virgo CX offers Canadians the ability to trade over 50 cryptocurrencies. Free Interac e-Transfer and wire deposits and withdrawals from Canadian and US banks are accepted. Processing times for Interac deposits and withdrawals are instant while wire deposits and withdrawals take up to 24 hours.
As a fully regulated Canadian exchange, Virgo CX is also secure. It has insurance and conducts regular audits of its reserves.
Virgo CX has an NFT marketplace, OTC services to trade large amounts of crypto, and a foreign currency exchange should you wish to convert your fiat.
Virgo CX offers a Quick Trade option which is suitable for beginners, and anyone looking to buy or sell crypto quickly at market price. The advanced trading platform is suitable for more experienced traders and anyone wanting more advanced order types.
There is also an OTC Desk for people who wish to place large buy and sell orders over $30k. This feature is called Virgo CX Wealth. It is especially useful for those wanting a personalized trading experience when making large trades. You will get your own personal account manager when using this service.
Another feature of Virgo CX is its NFT marketplace. Users can browse, buy, sell, and mint NFTs. The NFTs can be bought with Ethereum.
Finally, Virgo CX has a fiat currency converter for anybody wanting to trade CAD for USD, or another fiat currency.
For those new to crypto, Virgo CX offers a helpful learning centre full of educational articles and guides.
Virgo CX offers free CAD Interac e-Transfer and wire deposits. You can also deposit US dollars from US banks using wire transfer. Fat withdrawals are also free. Credit and debit cards are not accepted.
Conveniently, Virgo CX offers a Quick Trade feature for when you want to buy crypto quickly at market price. The Quick Trade option is on the homepage of the website, so you can’t miss it.
The advanced trading platform is accessible when you click the Trade button at the top of the website. Here, more experienced users can find advanced charting tools and more order types including limit orders.
Conclusion:
Virgo CX is a beginner-friendly Canadian crypto exchange. The trading platform and app are well-designed and simple to use. The advanced features make Virgo CX good for experienced investors and the OTC Desk is perfect for those wanting to make large trades.
While the NFT marketplace is a nice feature, there are not many NFT collections there. Additionally, the NFTs are listed in Ethereum, meaning you will pay high gas fees for purchasing these NFTs.
Virgo CX is a secure and compliant crypto exchange so it can be used with peace of mind. Free deposits and withdrawals make Virgo CX appealing but watch out for potentially high spreads. Virgo CX is a good exchange for Canadians who want simplicity and many cryptocurrencies. However, there are certainly other Canadian crypto exchanges that are just as simple to use that have lower spreads. For example, Coinsmart offers fewer coins but lower spreads which will save you a lot.
Pros:
Free deposits and withdrawals
Interac e-Transfer available
OTC Desk
NFT marketplace
Insurance for crypto assets
Fully regulated in Canada
USD and CAD accepted
Crypto education portal
Advanced trading features
Quick Trade available
Cons:
Advanced trading platform can be confusing for beginners
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
Selecting a crypto exchange in Canada can be complicated because the country has strict regulations for crypto markets. Even major crypto trading platforms like Binance and ByBit had to leave Canada, leading to troubles for their Canadian users. So, it is essential to be careful and make a wise choice when picking a crypto trading platform if you plan to start trading in cryptocurrency.
Here are the best 2024 Canadian Cryptocurrency Exchanges based on consumer ratings, reports, and personal experience in 2023:
Bitbuy
Bitbuy is a Canadian cryptocurrency exchange, caters primarily to Canadian users, allowing deposits in Canadian dollars via Interac e-Transfer and wire transfer. The platform is designed to accommodate both beginners and advanced traders. It offers a diverse range of cryptocurrencies, including popular options like Bitcoin, Ethereum, Litecoin, and newer additions such as Solana, Cardano, and Polygon, with a commitment to continuously expanding its coin selection.
Bitget
Bitget is a global exchange catering to skilled users and offers a vast selection of altcoins for Canadian crypto traders. While deposits in cryptocurrency are free, purchasing crypto with CAD requires a debit card or a third-party bank transfer service like Banxa. For this reason, using Bitget’s P2P marketplace is recommended where you can buy USDT in Canada with Interac e-transfer commission free and use it for trading crypto on the platform. Compared toBitbuy, it offers over 1000 cryptocurrency coins, so it is the perfect choice for people who like to invest in altcoins.
Uphold
Released in 2015, Uphold is the best crypto exchange for multi-asset trading in Canada. Not only can you trade 60+ popular digital currencies but you can also trade US stocks or precious metals. This is why many Canadian crypto investors prefer Uphold over others. Uphold, a versatile cryptocurrency exchange, offers a unique range of deposit methods including credit/debit cards, direct cryptocurrency deposits, equities, and even precious metals. This exchange supports multiple currencies such as Canadian dollars (CAD), USD, and Euros, making it accessible for a global user base.
Netcoins
Netcoins is fast becoming one of Canada’s most reputable and trusted crypto exchanges. Netcoins is great for beginners because it is easy to use. Netcoins has a lot of good features including free deposits and withdrawals, excellent customer support and their own crypto card which offers 1% cashback paid in bitcoin on all purchases. Netcoins has the largest referral bonus of any crypto exchange. If you refer a friend and they buy $100 worth of crypto, you’ll both get $25.
Bitcoin Well
Bitcoin Well focus solely on Bitcoin. you won’t find an array of other coins here. However, if Bitcoin is solely what you’re after. Users can add Canadian dollars to their accounts using an Interac e-Transfer, wire transfer, Visa debit, or even through Bitcoin ATMs. The crypto platform exclusively deals in Canadian dollars (CAD), making it a straightforward choice for Canadian users.
Newton
Newton is one of the best beginner-friendly crypto exchanges with low trading fees in Canada. It offers popular digital currencies such as Bitcoin, Ethereum and Polkadot as well as many other altcoins that we think may explode in 2024. One of the key advantages of using Newton is its fee structure. The platform offers 0% fees for CAD funding, CAD withdrawals, and crypto deposits/withdrawals, with up to a $5 network fee waiver. Additionally, Newton does not charge commissions or trading fees, making it an economically attractive option for traders. Newton supports various deposit methods, including Interac e-Transfer, Wire transfer, and the ability to directly connect a bank account, which is particularly convenient for users dealing with Canadian dollars. Newton’s ease of use and focus on popular cryptocurrencies make it the premier choice for beginner traders in Canada’s cryptocurrency market. The best thing about Newton is the crypto assets they offer, and they grow this list every month. They currently offer over 70+ cryptocurrencies which makes them the best Canada-based crypto exchange when it comes to crypto selection. If you’d like more advanced trading features, Newton is working on a Pro trading platform that is currently in its Beta stage.
Shakepay
Shakepay is a Montreal-based trustworthy exchange that offers free and fast deposits and withdrawals and is considered one of the best Canadian crypto exchanges for beginners. You can deposit Canadian dollars (CAD) via Interac e-Transfer or wire transfer. Shakepay offers two coins only: Bitcoin and Ethereum. This narrow range might be a drawback for traders looking to diversify their cryptocurrency portfolio. Shakepay offers a unique referral program where, if you refer a friend who signs up using your referral link, you can shake your phone every day to receive small amounts of Bitcoin. The more people you refer, the more Bitcoin you earn. The only downside is remembering to shake your phone every day to receive your rewards. Like Netcoins, they also offer a crypto visa card, which you can use Canada-wide and receive cashback in Bitcoin.
NDAX.io
NDAX is a beginner-friendly crypto exchange that offers a good amount of popular digital currencies. It is the only Canadian crypto exchange that offers crypto staking. NDAX is one of the best crypto exchanges and is a good starting point for Canadians looking to purchase crypto for the first time. NDAX offers a variety of deposit methods including Interac e-Transfer, Wire transfer, and Bank draft, all catering to Canadian dollars (CAD). This makes it a convenient crypto platform for Canadian users.
Coinbase
Coinbase, a globally renowned crypto exchange offering Interac e-Transfer for Canadian users, simplifying fund deposits. This feature allows easy and convenient deposit of funds from any Canadian online bank account, addressing a major hurdle for Canadian crypto traders. However, the fees on Coinbase are among the highest in the crypto exchange industry. While Coinbase has built a reputation as an ideal platform for novice traders, thanks to its simplicity and robust security measures, these high fees significantly impact its attractiveness. Novice traders often prioritize ease of use and security in their trading platforms, both of which Coinbase excels at. However, the cost of trading on Coinbase, due to its high fees, is a major downside that cannot be overlooked.
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
NDAX is a beginner-friendly crypto exchange. It is the only Canadian crypto exchange that offers crypto staking. Many Canadians believe that NDAX is the cheapest crypto exchange in Canada with the lowest fees. NDAX offers free deposits, fixed withdrawal fees, and a fixed 0.2% buy/sell fee, which makes it easier to work out how much you will be charged per trade.
NDAX, a Canadian cryptocurrency exchange, offers a variety of deposit methods including Interac e-Transfer, Wire transfer, and Bank draft, all catering to Canadian dollars (CAD). This makes it a convenient crypto platform for Canadian users.
Pros:
Free deposits
No deposit/withdrawal minimum or maximum
Fixed 0.2% buy/sell fee
Wide range of coins available
Fast Interac deposits
Send, request, and gift crypto to another NDAX user for free, instantly
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.
J. Michael Dennis ll.l., ll.m. Live 
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