Our Top Picks 2023



NDAX had the lowest fee to buy Bitcoin with Canadian dollars (18 platforms tested). It's the best choice in Canada.

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


Newton has a great user interface, $5 off your crypto withdrawals, and is adding new features regularly.

  • 75+ cryptos
  • Modern and sleek UX
  • Free Interac e-Transfers
  • Fees have increased since 2022
  • No advanced trading
MEXC Global


MEXC is one of the largest non-KYC crypto exchanges and best Binance and KuCoin alternatives.

  • 1,500+ cryptocurrencies
  • 0% spot trading fees and high volume
  • Up to 200x leverage
  • Unregulated
  • Not beginner-friendly

We rigorously test every crypto exchange using a data-driven approach. For our 3rd annual review, RankFi analyzed 26 crypto exchanges across 60+ data points each.

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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

MEXC Global Review

MEXC Global offers zero KYC, high liquidity on 1,700+ cryptocurrencies, zero-spot trading fees, and 200+ futures trading pairs. See why 10 million investors have signed up for this platform.

Nov 24, 2023
Shakepay Review for Canadians

Shakepay is trusted by 1 million Canadians for Bitcoin and Ethereum purchases. It also has lots of ways to earn free Bitcoin.

Alex Dabek
Oct 23, 2023
Compare Bitcoin ETFs Canada

There are several spot Bitcoin ETFs in Canada, which give investors direct access to Bitcoin’s price through a traditional securities exchange.

Oct 20, 2023

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