Our Top Picks 2024

NDAX

NDAX

Out of every platform, NDAX had the lowest fee to buy Bitcoin in Canada. It's our top pick two years in a row.


  • Lowest all-in fee to buy Bitcoin
  • Beginner and advanced trading
  • Free Interac e-Transfers
  • Higher withdrawal fees
  • Only 30+ cryptocurrencies
Kraken

Kraken

Kraken is fully regulated in Canada with 200+ cryptos, pro trading, zero-fee staking and high liquidity.


  • E-Transfers supported
  • Industry-leading security
  • Zero-fee staking
  • 0.16%/0.26% trading fees
  • Fiat withdrawal fees
BYDFi

BYDFi

BYDFi is the best altcoin and futures exchange without KYC. A good Binance and KuCoin alternative.


  • 450+ cryptocurrencies
  • No KYC, No VPN
  • Up to 200x leverage
  • No $CAD supported
  • Not beginner-friendly

We tested every Canadian crypto exchange using a data-driven approach. For our 4th annual review, RankFi analyzed 26 crypto exchanges across 60+ data points each.

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Exchanges Reviewed

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Data Points

4th

Annual Review

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How to Choose a

Crypto Exchange

With so many options out there, how do you know which crypto exchange is right for you? Look at these 5 key factors when selecting a platform.

1) Low Fees

Fees are usually highest in the spread, but there are other fees to consider as well such as trading fees, deposits fees, withdrawal fees, and more. RankFi tests for 15 different fee types.

2) High Security

With many crypto exchange hacks, security needs to be a priority. Look for platforms that use cold storage, 2-factor authentication, and implement robust security measures.

3) Features

Determine which features you need like a wide variety of altcoins, beginner trading, or advanced trading tools. Then check which options are available in your province. It's common to use multiple crypto exchanges.

4) Deposit Methods

Convenient deposit and withdrawal methods are important when buying and cashing out crypto from your bank account. Interac e-Transfers and bank transfers are the most popular and quickest methods in Canada.

5) Ease of Use

Look for a platform that is beginner-friendly and user-friendly and consider things like speed, account opening process, customer support, reliability, and so on. 

Learn More About Crypto Exchanges in Canada

What Is The Largest Cryptocurrency Exchange?

The world's largest crypto exchange by trading volume is Binance, with billions of dollars in daily trading volume.

How Does RankFi Test Crypto Exchanges?

RankFi tests crypto exchanges by analyzing 60 data points for each platform, including fees, security, user experience, and more. We also open accounts and conduct in-depth reviews to provide the most detailed information.

Is It Safe to Store Crypto On An Exchange?

While storing crypto on an exchange can be convenient, it is not considered the safest. Over the years, many exchanges have collapsed, resulting in the loss of customer funds. The safest way to store digital assets is on a secure, offline wallet.

How Do I Avoid Crypto Exchange Fees?

Be aware that the highest fees are usually hidden in the spread. You should also look at the trading fees, deposit fees and withdrawal fees. RankFi tests 15 different types of fees for each platform and our comparison tool helps you easily compare all of them.

Latest Updates

Coinsmart Review

Coinsmart is a publicly traded crypto exchange under the ticker symbol SMRT. Canadians can trade 15+ coins on the platform.

Alex Dabek
Apr 14, 2024

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