What is a Cryptocurrency Exchange?
A cryptocurrency exchange is where you buy, sell, and trade digital currencies like Bitcoin and Ethereum. Think of it as a stock exchange for crypto, you can convert Canadian dollars into cryptocurrency or swap one coin for another. Most platforms work like standard financial apps with real-time pricing and straightforward purchasing. They serve as regulated marketplaces where you can manage your crypto investments.
The Best Cryptocurrency Exchanges in Canada
There's no single "best" exchange, it depends on what matters most to you. Are you prioritizing low fees, ease of use, coin selection, or security features? Your experience level also plays a role.
The good news? All major Canadian exchanges are FINTRAC-registered and comply with CSA/OSC regulations, so you're starting with a baseline of security. The differences come down to fees, features, and which type of investor they serve best.
Best Overall Picks
If you want a solid, reliable platform to start with, these three consistently rank at the top:
Bitbuy
A well-established Canadian exchange with a solid security track record. Offers both Express (beginner-friendly) and Pro (advanced) interfaces.
Standout feature: Free CAD withdrawals via Interac e-Transfer.
Visit Bitbuy →
NDAX
National Digital Asset Exchange
Best for active traders with a straightforward 0.20% flat trading fee, one of the lowest in Canada.
Keep in mind the $25 fiat withdrawal fee.
Visit NDAX →
Newton
Best for beginner-friendly, low-cost trading with spread-based pricing (typically 0.5% - 1%). Easy-to-use app with 70+ coins.
Standout feature: Covers a portion of cryptocurrency withdrawal network fees.
Visit Newton →Best for Specific Needs
Looking for something specific? Here's a breakdown by specialty:
| Exchange | Best For | Key Feature/Fee Structure |
|---|---|---|
| Newton | Beginner-Friendly & Low-Cost Trading | Spread-based pricing (typically 0.5% - 1%). Easy-to-use app with 70+ coins; covers a portion of cryptocurrency withdrawal network fees. |
| Bitbuy | Canadian-Owned & Security | Long-standing, fully-regulated Canadian exchange. Offers "Express" for beginners and "Pro" for advanced traders. Trading fees are approximately 0.5%. |
| NDAX | Lowest Flat Trading Fees & Altcoins | Flat 0.20% trading fee. Simple interface and staking available. |
| Kraken | Advanced Trading & Security | Global exchange with very low maker/taker fees (starting near 0% to 0.40%). Excellent security record and a wide asset selection. |
| Wealthsimple Crypto | Traditional Investors & Ease of Use | Seamlessly integrated with their popular stock and investing apps. Excellent for beginners, but fees (spreads) are generally higher (approx. 0.5% - 2%). |
Best Cryptocurrency Exchanges for Beginners
If you're new to cryptocurrency, you want a platform that's intuitive, has good educational resources, and doesn't overwhelm you with complex features. Here are the top picks for beginners:
| Exchange | Why It's Great for Beginners | What to Watch Out For |
|---|---|---|
| Newton | No direct trading fees, straightforward app design, and more coin options than Shakepay. Great for buying and holding without complexity. | Spreads can be wider during volatile markets. Not ideal for active trading. |
| Bitbuy | Their Express platform is designed specifically for beginners with a simple buy/sell interface. Strong security and Canadian ownership add peace of mind. | Slightly higher fees on Express mode compared to their Pro platform. |
| Shakepay | The simplest crypto app in Canada. Only offers Bitcoin and Ethereum, which removes decision paralysis. Clean interface, fast Interac funding, and you can earn Bitcoin rewards with their card. | Very limited coin selection. Only Bitcoin and Ethereum available. |
| Wealthsimple Crypto | If you already use Wealthsimple for stocks, adding crypto is seamless. Familiar interface and trusted Canadian brand. | Higher spreads (0.5% - 2%) compared to other platforms. Limited coin selection. |
| Netcoins | Straightforward Canadian platform with transparent 0.50% flat fee. Simple interface and free Interac funding. Good starter exchange. | Limited advanced trading features. Smaller coin selection than competitors. |
Best Cryptocurrency Exchanges for Lowest Fees
Fees eat into your returns, especially if you trade frequently. These exchanges offer the most competitive fee structures in Canada:
| Exchange | Fee Structure | Best For |
|---|---|---|
| NDAX | Simple 0.20% flat fee on all trades regardless of volume. No maker/taker distinction. | Traders who want predictable, straightforward fees without worrying about volume tiers. Note the $25 withdrawal fee. |
| Newton | No deposit or withdrawal fees for Interac e-Transfer.. Spread-based pricing starting around 0.5% | Buy-and-hold investors making occasional purchases. Less ideal for frequent traders due to spreads. |
| Shakepay | No direct trading fees (spread of 1.2% - 2.5%). Free deposits and withdrawals. Bitcoin rewards program with their card. | Beginners who want simplicity with Bitcoin and Ethereum only. Good for small, regular purchases. |
| Bitbuy Pro | Maker/taker fees starting at 0.50% on the Pro platform. | Intermediate traders who want lower fees than Express mode but don't need Kraken's complexity. |
| Netcoins | Flat 0.50% trading fee. No fees on CAD deposits or withdrawals via Interac e-Transfer. | Buy-and-hold investors who value transparent pricing and free Canadian funding/withdrawals. |
| Bullbitcoin | Spread-based pricing around 1.75-2.00%. No withdrawal fees. Bitcoin sent directly to your wallet. | Bitcoin-only buyers who want non-custodial solution with competitive pricing and no withdrawal costs. |
| VirgoCX | Trading spreads of 0.95% - 1.6%. No deposit or withdrawal fees for Interac e-Transfer. | Active traders looking for low fees with free funding. Canadian-based with good altcoin selection. |
Pro tip: Always consider the total cost including deposit fees, withdrawal fees, and spreads, not just trading fees. A "zero fee" platform might have wider spreads that cost you more than a platform with transparent flat fees.
Best Cryptocurrency Exchanges for Altcoins
Looking beyond Bitcoin and Ethereum? These exchanges offer the widest selection of altcoins available to Canadians:
| Exchange | Number of Coins | Notable Altcoins |
|---|---|---|
| Kraken | 600+ | Extensive selection including Cardano (ADA), Polkadot (DOT), Solana (SOL), Chainlink (LINK), Polygon (MATIC), Avalanche (AVAX), and many DeFi tokens. Best overall variety for Canadian traders. |
| Crypto.com | 350+ | Good variety of altcoins with staking options for many. FINTRAC registered. Integrated with their credit card and ecosystem for additional utility. |
| Coinbase | 200+ | Strong selection of popular altcoins and newer projects. Good for accessing recently launched tokens. Offers staking for many altcoins. |
| Newton | 70+ | Good selection of popular altcoins. Regularly adds new tokens. Better than most Canadian-only platforms but not as extensive as global exchanges. |
| NDAX | 30+ | Decent selection of major altcoins including Cardano, Polkadot, Solana, and Chainlink. More limited than global exchanges but covers the top projects. Also offers staking. |
Important: More coins doesn't always mean better. Many small-cap altcoins are highly speculative and risky. Make sure you research any project thoroughly before investing, regardless of which exchange offers it.
Best Cryptocurrency Exchanges for Security
Security should be a top priority when choosing an exchange. These platforms have the strongest security track records and features:
| Exchange | Security Features | Track Record |
|---|---|---|
| Bitbuy | 95% of assets in cold storage, SOC 2 Type 2 certified, 2FA required, insurance on digital assets. First regulated crypto platform in Canada. | Operating since 2013 with a clean security record. Fully Canadian-owned and regulated. Knox Custody provides institutional-grade storage. |
| Bullbitcoin | Non-custodial platform Bitcoin is sent directly to your wallet. You control your private keys from the start. No exchange wallet means no exchange risk. KYC compliant but assets never held by the platform. | Canadian company operating since 2015. Zero risk of exchange hacks affecting your funds because they never hold your Bitcoin. Perfect security model for those who want true ownership. |
| NDAX | Cold storage for majority of funds, 2FA available, withdrawal address whitelisting, email/SMS notifications for account activity. | Clean track record since launch. FINTRAC registered and compliant with Canadian regulations. |
| Newton | Daily exchange backups, third-party custody with most assets offline. Direct bank integration reduces fraud risk. 2FA available with withdrawal whitelisting. | FINTRAC registered with clean track record. Third-party custody by regulated custodians. Strong focus on security infrastructure and fraud prevention. |
| Shakepay | FINTRAC registered with cold storage for all assets backed by insurance. 2FA required. Simple security model with email notifications for all account activity. | Montreal-based exchange operating since 2015. Clean security record with focus on simplicity. Insurance-backed cold storage adds protection for Bitcoin and Ethereum holdings. |
| Coinbase | 98% of funds in cold storage, FDIC insurance on USD balances (up to $250k), crime insurance on digital assets, biometric authentication, advanced fraud detection. | Publicly traded company (COIN) with strong regulatory compliance. No major security breaches affecting customer funds. Regular audits and transparent security practices. |
| Bitcoin Well | Non-custodial option available. Automated withdrawals to your personal wallet. Also operates 200+ Bitcoin ATMs across Canada. Strong focus on education and helping users maintain their own custody. | Canadian publicly-traded company (TSXV: BTCW) since 2016. Clean security track record. Emphasizes self-custody and Bitcoin-only approach. Transparent operations with regular audits. |
Custodial vs. Non-Custodial: Traditional exchanges (custodial) hold your crypto for you, which is convenient but means you're trusting them with your assets. Non-custodial platforms like Bullbitcoin and Bitcoin Well let you maintain control of your private keys, eliminating exchange risk entirely. The trade-off is added responsibility, if you lose your keys, there's no customer service to help.
Security best practices: No matter which exchange you choose, always enable two-factor authentication (2FA), use a unique strong password, and consider moving large holdings to a hardware wallet for long-term storage. Even the most secure exchange is less secure than properly managing your own private keys.