Best Beginner Crypto Exchanges in Canada (With Low Fees)

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 May 2024   |  Affiliate Disclosure

Choosing the right cryptocurrency exchange is important, but it can take forever. There are dozens of exchanges in Canada and 600+ worldwide according to CoinMarketCap. That's why here at RankFi, we've reviewed over 50 exchanges total and 20 Canadian exchanges so you can find the best choice. Here is an overview of our top picks for beginners:

Overview

Our Top Picks

Why We Picked It

Website

Shakepay

1.Shakepay

Newton.co

2. Newton

NDAX.io

3. NDAX

What We Looked For

The best beginner crypto exchanges will have easy account opening, low fees, a good user interface and easy deposit/withdrawals from a Canadian bank account. However we looked at many other variables as well like:

  • Security & Reputation
  • Fees & Liquidity
  • Coin Selection
  • Features & Trading Tools
  • Deposit & Withdrawal Options
  • And More

Best Beginner Crypto Exchanges

#1

Shakepay

Shakepay

2

Coins

Free

Trading Fee

1.03%

All-In Fee

Shakepay is the best beginner crypto broker on the market. Regardless of experience, anyone can buy their first Bitcoin or Ethereum in minutes. It has quick registration and offers deposits via Interac e-Transfer and wire transfer.

You can also set up recurring purchases if you want to dollar cost average. When it comes to fees, Shakepay makes money on the spread and everything else is free. Deposits, withdrawals, crypto withdrawals and trading fees are all free. You can compare spread fees here.


#2

Newton.co

Newton

75+

Coins

0% (Spread)

Trading Fee

0.69%

All-In Fee

Newton is another easy crypto brokerage. Canadians can quickly deposit $CAD and start purchasing over 70 cryptocurrencies. It has a modern mobile app and website that is simple to use. 

They offer a wider selection of cryptocurrencies than Shakepay. There are zero deposit, withdrawal and trading fees. However, keep in mind that Newton charges fees in the spread which can be hard to know how much you're paying.


#3

NDAX

NDAX

37

Coins

0.20%

Trading Fee

0.49%

All-In Fee

NDAX is one of the best crypto exchanges in Canada and it also happens to be beginner-friendly. While it has a trading fee of 0.20%, it's still the cheapest platform on this list with it's all-in fee.

NDAX offers beginner and advanced trading features, staking, and recurring purchases. The downsides are a $5 fee when withdrawing Canadian dollars and higher cryptocurrency withdrawal fees for certain coins.


Didn't Make The Cut

To make this post, we reviewed dozens of Canadian platforms. Most of them did not make the final cut because of high fees. However, you can review any of the platforms below if you want to learn more:

  1. :Netcoins (good runner-up)
  2. Bitbuy (high fees)
  3. Crypto.com (high fees, difficult to use)
  4. Coinbase (high fees)
  5. Coinsmart (high fees)
  6. Wealthsimple Crypto (high fees)
  7. Compare All Canadian Exchanges

Conclusion

Canada has a wide selection of cryptocurrency exchanges. For beginners, we found the best platforms to be Shakepay, Newton and NDAX for their ease of use, low fees, safety, and overall criteria.

Related Guides

Want more help navigating the crypto world? Here are some guides specific for Canadians:

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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