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.
Netcoins is fast becoming one of Canada’s most reputable and trusted crypto exchanges. The exchange is also owned by Bigg Digital Assets, which is a publicly traded company. This can give you the ultimate reassurance that your funds are as safe as can be.
Netcoins is great for beginners because it is really easy to use. They don’t charge any fees when you deposit or withdraw money, which is a big plus. When you trade, the fee is only 0.55%, which is quite low. The spread, which is the difference between the buy and sell prices, ranges from 0.5% to 1.5%. You can add money to your Netcoins account through Interac e-transfer or bank wire, both popular and easy options in Canada.
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.
There are 30+ cryptocurrencies available to trade and they add more everything month. Not only that, but 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.
Pros:
Fully regulated crypto exchange in Canada
Owned by a publicly traded company
Wide selection of cryptocurrencies
Free deposits & withdrawals
Phone support
Crypto card
Large sign-up bonus
Beginner-friendly
Cons:
High trading fees
No debit/credit card purchases
Unclear how customer funds are held
Netcoins is fast becoming one of Canada’s most reputable and trusted crypto exchanges. The exchange is also owned by Bigg Digital Assets, which is a publicly traded company. This can give you the ultimate reassurance that your funds are as safe as can be.
Netcoins is great for beginners because it is really easy to use. They don’t charge any fees when you deposit or withdraw money, which is a big plus. When you trade, the fee is only 0.55%, which is quite low. The spread, which is the difference between the buy and sell prices, ranges from 0.5% to 1.5%. You can add money to your Netcoins account through Interac e-transfer or bank wire, both popular and easy options in Canada.
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.
There are 30+ cryptocurrencies available to trade and they add more everything month. Not only that, but 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 (please use our referral link if you decide to sign up and trade crypto with Netcoins).
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.
Newton is one of the best beginner-friendly crypto exchanges with low trading fees in Canada.
Newton offers popular digital currencies such as Bitcoin, Ethereum and Polkadot as well as many other alt-coins that we think may explode in 2024. Newton has a sleek, modern interface that will appeal to beginner crypto investors. Its cryptocurrency trading platform is easy to navigate, and users can take advantage of free deposits and withdrawals.
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.
It also offers instant verification, which is great if you want to purchase your first crypto fast.
If you would like more advanced trading features, Newton is working on a Pro trading platform that is currently in its Beta stage.
Pros:
No deposit or withdrawal fees
Wide selection of coins available
You can export a T5 statement
Sleek interface
Newton Pro for advanced traders in Beta stage
Cons:
No live chat support.
No credit card deposits. Debit must be pre-approved.
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.
Launched just two years after Bitcoin (BTC), Kraken is one of the most established crypto exchanges on the market. Kraken is one of my preferred exchange platforms but is not available to Canadians.
Here is what you need to know: As of November 30th, 2023, Kraken has suspended deposits, withdrawals, and trading in Canada across all trading platforms for Tether (USDT), Dai (DAI), Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), and Wrapped Axelar (WAXL).
Kraken Pros & Cons
Pros
Large selection of digital assets.
Low fees for advanced traders.
Cons
Limited options for funding accounts.
Not available in Canada and all U.S. states.
High fees for buying in USD.
Launched just two years after Bitcoin (BTC), Kraken is one of the most established crypto exchanges on the market. While Kraken has tools, products, and informational resources for beginning crypto investors, many of its offerings are targeted toward people with more experience.
Where Kraken shines
Large selection: Kraken lets its customers buy more than 230 different cryptocurrencies, and the service offers more than 130 crypto trading pairs.
Relatively low fees: While Kraken’s rates for entry-level traders can be high, fees on its more advanced Kraken Pro service are among the lowest reviewed by NerdWallet.
Where Kraken falls short
Limited funding options: Kraken has limited options for U.S. customers who want to put money into their account. The platform uses a service called Trustly to allow people to connect their bank accounts, and Kraken says this method works with more than 1,000 financial institutions. But if your bank is not among those institutions, you will have to wire money into your account, a process that can involve calling your bank to arrange the transaction.
Not available everywhere: The exchange is not open to people in New York, Washington state and Canada.
Kraken is best for:
Crypto-to-crypto trading.
Margin trading.
Advanced traders.
Is Kraken right for you?
While Kraken has tools, products, and informational resources for beginning crypto investors, many of its offerings are targeted toward more seasoned investors.
If you are comfortable with a more advanced interface and are looking for access to a broad range of investment options, Kraken offers a reasonably priced experience.
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.
We have thoroughly examined, compared, and tested all crypto exchanges available for Canadians to use. Our selection of the best Canadian crypto exchanges is based on a unique methodology that considers various factors, including compliance with Canadian laws, trading fees, security and safety measures, the availability of deposits via Interac e-transfer, coin selection, app ratings from Canadian users, as well as ratings from customers.
When choosing a Canadian cryptocurrency app to purchase digital assets, it is essential to ensure they offer several deposit methods and accept CAD. We prioritized exchanges that allow Canadian deposits with Interac e-Transfer and charge 0% fees. Quick and cost-effective depositing of Canadian dollars is crucial for Canadian investors, and Interac e-Transfer is the preferred method as it is the fastest and most affordable option for Canadians.
While global popular exchanges like Coinbase and Binance may offer the ability to buy crypto with Canadian debit or credit cards, this often comes with high exchange rate fees over 3%. To obtain crypto at the lowest cost possible, using a Canadian-based cryptocurrency exchange that allows Interac e-Transfers is the way to go.
Ease of use
Figure 1
It is important to find a Canadian cryptocurrency app that makes the process of trading crypto as easy and intuitive as possible. Some reputable exchanges have advanced interfaces with charts, like the one shown in figure 1, and order books suitable for seasoned investors.
What is the best way to buy crypto in Canada?
There are a few different ways to buy crypto in Canada, and the best method for you will depend on your needs and preferences. If you are looking for the simplest and easiest way to get started with buying crypto, then using a Canadian crypto exchange like Bitbuy or Newton is probably your best bet. Ultimately, it is up to you to decide which method is best for you.
What are the Crypto Exchanges Authorized in Canada?
Canada has tough regulations for crypto exchanges operating within its borders. Typically, decisions regarding the legitimacy of these exchanges fall under the purview of FINTRAC and the Ontario Securities Commission. For instance, the OSC previously prohibited Binance and ByBit for Ontario residents. As a result, these exchanges, facing stringent FINTRAC guidelines, opted to leave the Canadian market altogether. Nonetheless, some exchanges, such as Bitget and Kucoin, continue to operate in Canada without adhering to these regulations. While it is essential to weigh the associated risks and benefits. If you want to be safe, it is good to use exchanges that follow Canadian laws. Here is a list of those compliant exchanges:
Which crypto exchange has the lowest fees in Canada?
There are a few different crypto exchanges that are popular in Canada, and each one has its own fee structure. Some exchanges charge higher fees for certain trades, while others have lower overall fees. You might think that Shakepay or Newton have the lowest trading fees in Canada because they are advertised as “no-fee exchanges”. In fact, you pay high spreads on your crypto trading activities. After careful research, we found out that BitBuy is the lowest trading fee cryptocurrency app in Canada with only %0.2 trading fees and free deposits.
As a reminder – please exercise extreme caution when transacting with cryptocurrency. Cryptocurrency transactions are not reversible.
If an individual has reached out to you claiming to represent a company, entity, law enforcement, or any government official you should exercise caution and inform them you will contact the company, entity, or the authorities directly to verify if they are legitimate.
Below are a few examples of red flags to be aware of that may help you identify a scam:
Unrealistic Promises
Any entity that asks for your private keys, passwords, or any personal information.
Any third-party investment broker or brokerages.
Any entity that promises to give great returns if you send funds to them.
Any entity that wants access or control of your funds.
Any entity forcing you or pressuring you to pay back any debts with crypto.
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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