Best Crypto Exchanges Canada

🇨🇦 2023 Awards

This Year's Best Crypto Exchanges for Canadians

Canada's Toughest Review

We tested 25 platforms for our third annual review, versus 18 platforms in 2022.

25

Platforms Reviewed

1,050

Data Points

3rd

Annual Review

🇨🇦 2023 Winners

Here are the best places for Canadians to buy and sell crypto:

Best Overall

#1
NDAX

NDAX

  • Overview

  • Why We Picked It

30+

Coins

0.20%

Trading Fee

0.49%

All-In Fee

While NDAX is not as well-known as apps like Shakepay or Wealthsimple, it's first on our list because it had the lowest fees to buy Bitcoin in Canada. It also offers beginner and advanced trading tools and free e-Transfers for deposits.

When it comes to safety, NDAX is OSC regulated in Ontario and licensed throughout Canada. They have never had a hack. For these reasons, NDAX finishes at the top of our list for a low-fee, secure crypto exchange in Canada.


Best Runner Up

#2
VirgoCX Logo

VirgoCX

  • Overview

  • Why We Picked It

60+

Coins

0.00%

Trading Fee

0.66%

All-In Fee

VirgoCX is a Toronto-based company with 60+ cryptocurrencies, low fees, and free e-transfer deposits and withdrawals. It also supports beginner and advanced trading and users can enjoy both CAD and USD trading pairs.

It's another great choice with low fees and free CAD deposits and withdrawals. It also offers a wider selection of cryptocurrencies than NDAX, making it a great runner up.


Best Altcoin Exchange

#3
MEXC

MEXC

  • Overview

  • Why We Picked It

1,500+

Coins

0.00%

Trading Fee

?

All-In Fee

With Binance and KuCoin leaving Canada and many Canadian platforms having limited altcoins and low liquidity, MEXC is one of the top places to trade altcoins at great rates.

MEXC has the highest liquidity on this list, zero spot trading fees, and up to 200x leverage. In addition, it's a non-KYC exchange and only requires an email. On the downside, it's important to consider that MEXC is unregulated in Canada and they only support crypto trading pairs (no fiat currencies).


Fourth Place

#4
Newton.co

Newton

  • Overview

  • Why We Picked It

70+

Coins

0.00%

Trading Fee

0.69%

All-In Fee

Newton is a popular crypto platform for it's sleek design and low fees. It was our 2022 winner however, in 2023, the fees (trading spreads) rose significantly and that 0.69% all-in fee is no more.

Spreads aside, Newton is still a solid choice with free e-transfers, $5 off crypto withdrawals, and arguably the best user interface out of all platforms.


Compare The Winners

Compare All Crypto Exchanges

Header
NDAX.io
MEXC
Newton.co

Ranking

Best Overall

Second Place

Best For Altcoins

Runner Up

Coins

30+

60+

1500+

70+

Total BTC Purchase Fee with $CAD*

0.49%

0.66%

??

0.69%

BTC Spread**

0.35%

1.11%

0%

1.34%

Trading Fee

0.20%

0%

0%

0%

$CAD Wallet

Yes

Yes

No

Yes

$CAD Funding Fee

Free

Free

N/A

Free

BTC Withdrawal Fee

0.000399 BTC

Free

0.0003 BTC

$5 off mining fees

Beginner Friendly

Yes

Yes

No

Yes

Promotion

$10 free when you deposit $100

$20 free when you deposit $100

Up to a $1000 bonus

$25 free when you trade $100

Cell

  • *Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference for buying Bitcoin on Mar 2, 2022 (visit this page to see all the data used for this)
  • **Prices & spreads were collected on Mar 2, 2022 at 4:41pm and are subject to change

FAQ

How Were These Platforms Ranked?

We opened accounts on 18 cryptocurrency exchanges and reviewed each one across 60 variables. For each platform we assessed:

  • Fees & Spreads
  • Deposit Methods
  • Withdrawal Methods
  • Security
  • Features & Services
  • Ease of Use

We published all of the data if you want to review and compare the platforms yourself.

How Many Cryptocurrency Exchanges Should I Use?

If you only want to buy large coins, then one cryptocurrency exchange is usually enough. However, opening several accounts and wallets is common if you want more altcoins, features and tools to explore the crypto industry and its opportunities. 

Who Owns RankFi?

RankFi is independently owned and operated by a small team of crypto enthusiasts. We are not owned by any cryptocurrency exchanges or companies that can influence the rankings.

Previous Year's Winners

2022

In our second annual review, we analyzed 18 cryptocurrency exchanges across 60 features each and 1,000+ data points.

🏆 1st

Newton (Best Overall)

10.

Netcoins

🥈 2nd

NDAX (Best Purchase Fees)

11.

Bitbuy

🥉 3rd

VirgoCX (Best Runner Up)

12.

Quick Trade

4.

Binance (Best for Altcoins)

13.

Coinsquare

5.

KuCoin (Best for Altcoins Ontario)

14.

Bittrex Global

6.

Shakepay (Best for Beginners)

15.

Coinbase

7.

Crypto.com (Best Rewards)

16.

Coinbase Pro

8.

Kraken (Best For Staking)

17.

Coinsmart

9.

Wealthsimple (Crypto in Your TFSA)

18.

Coinberry

2021

In our first annual review, we assessed 11 cryptocurrency exchanges across 30 variables and 350 data points.

🏆 1st

Newton (Best Overall)

7th

Coinbase (Earn Free Crypto)

🥈 2nd

NDAX (Best Purchase Fees)

8th

Netcoins

🥉 3rd

Binance (Best for Altcoins)

9th

Bitbuy

4th

Shakepay (The Easiest)

10th

Coinberry

5th

Kraken (Best Reputation)

11th

Coinsquare

6th

Wealthsimple (Crypto in Your TFSA)

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