Best Altcoin Exchanges Canada

We put over 50 apps to the test to find the best Canadian crypto exchanges in 2024. Explore the results below to find the best platform for your needs.

Updated March 2024   |  Affiliate Disclosure

Overview

Our Top Picks

Why We Picked It

Website

MEXC

1. MEXC

Kraken

2. Kraken

Crypto.com

3. Crypto.com Exchange

Newton.co

4. Newton

1Inch exchange

5. 1Inch

Uniswap

6. Uniswap

PancakeSwap

7. Pancakeswap

There are many Canadian-based crypto exchanges but most of them only offer around 100 coins. While Canadian exchanges are great for buying top cryptos and using CAD, the coin selection is very limited.

If you want access to the over 2.2M cryptocurrencies out there, you'll need a second or third platform dedicated for altcoins. This post will show you the best centralized and decentralized exchanges so you can have the entire cryptocurrency market at your fingertips. 

What We Looked For

Every platform on this list is considered safe and we prioritized low fees and high liquidity so you can get the most competitive rates. However, we looked at other criteria as well. Here at RankFi, we’ve reviewed over 50 crypto exchanges over the years across fees, features, ease-of-use, and much more. Here are our top picks:

MEXC

1. MEXC

  • Overview

  • Why We Picked It

2,000+

Coins

0.00%

Trading Fee

0.00%

BTC Spread

Kraken

2. Kraken

  • Overview

  • Why We Picked It

200+

Coins

0.16% - 0.26%

Trading Fee

0.05%

BTC Spread

Crypto.com

3. Crypto.com Exchange

  • Overview

  • Why We Picked It

250+

Coins

0.075%

Trading Fee

?

BTC Spread

Newton.co

4. Newton

  • Overview

  • Why We Picked It

75+

Coins

0%

Trading Fee

1.34%

BTC Spread

Decentralized Exchanges

There are 2.2M+ coins according to CoinMarketCap but centralized exchanges (CEXs) offer around 1,000 coins or much less. So this list wouldn't be complete without Decentralized Exchanges (DEXs) which give you access to thousands of tokens.

If you're unfamiliar with DEXs, they only require a crypto wallet to use. They are permissionless and no email address, ID or KYC is asked for or even needed. Anyone can list tokens on a DEX so you need to be safe and make sure you're trading the official token. However, it's an amazing way to access large-cap and small-cap altcoins. It can also be safer than a CEX since you control your funds at all times through your wallet.

Here are a few of the best DEXs in the crypto industry based on reputation, popularity, and other criteria:

5. 1Inch

  • Overview

  • Why We Picked It

1,000+

Coins

0%

Trading Fee

10+

Blockchain

Uniswap

6. Uniswap

  • Overview

  • Why We Picked It

1,000+

Coins

0.30%

Trading Fee

ETH

Blockchain

PancakeSwap

7. Pancakeswap

  • Overview

  • Why We Picked It

1,000+

Coins

0.25%

Trading Fee

BNB Chain

Blockchain

Didn't Make The Cut

Here are some popular choices that other blogs might mention. However, these actually have high fees or other downsides that don't make them ideal for Canadians.

Best Way To Fund An Altcoin Exchange

Many altcoin exchanges don’t support CAD or have expensive deposit fees. The best way around this is to fund your account with crypto using a local Canadian exchange. This means you'll need two accounts: your altcoin exchange and a local exchange that supports Canadian dollars.

Only then can you deposit and cash out fiat as cheaply as possible. It would look something like this:

  1. Sign up for VirgoCX (or any Canadian exchange)
  2. Deposit CAD for free (e-Transfer, bank transfer, etc.)
  3. Buy a large coin or stablecoin (USDC, ETH, etc. but check withdrawal fees first)
  4. Then, login to your altcoin exchange and grab your deposit address (make sure it's the same coin and network)
  5. Transfer your funds

Conclusion

With the right altcoin exchanges, you will have access to the entire crypto world and its opportunities.

Whether you use one platform or multiple, these are our best choices at the moment that have lots of coins, low fees, and a trusted reputation. For more info, you might also want to check out my guide on how to buy any altcoin you want

Author

Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.


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