Best Crypto Exchanges Canada

🇨🇦 2022 Awards

This Year's Best Crypto Exchanges for Canadians

The Toughest Review In Canada

We conducted the largest independent review of Canadian cryptocurrency exchanges

18

Platforms Reviewed

1,050

Data Points

2nd

Annual Review

🇨🇦 The 2022 Winners

Here are the best places for Canadians to buy crypto:

🏆 1. Best Overall

Details

We picked Newton because it's the most well-rounded platform that has low fees, lots of coins and a great user-interface. It's our 2022 winner and the best option for the majority of Canadians.

  • 🏆 Best all-around platform
  • 🏆 3rd lowest total purchase fee (0.69%)
  • ✅ Free CAD deposit & withdrawals
  • ✅ $5 off network fees for crypto withdrawals
  • ✅ Stylish UX and Beginner-friendly
  • 🚫 Less features compared to others
  • 🚫 No advanced trading
  • 🚫 Slow customer support

More Info

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Coins

60+

Total Purchase Fee

0.69% (3rd place)

Total Selling Fee

0.64% (4th place)

Trading Fee

Free

CAD Deposits

Free

Interac e-Transfer?

Yes

Beginner Friendly?

Yes

Advanced Trading?

No

Promotion

🏆 2nd Overall

Details

NDAX is another great pick. It had the lowest fees to buy Bitcoin. There are less coins than Newton but you get more features such as recurring buys, advanced trading and staking.

  • 🏆 Lowest total purchase fee (0.49%)
  • 🏆 Lowest total selling fee (0.26% + $4.99)
  • ✅ Offers staking
  • ✅ Has advanced trading
  • ✅ Beginner-friendly
  • 🚫 $4.99 fee to withdraw CAD
  • 🚫 Slightly higher crypto withdrawal fees
  • 🚫 Less coins than Newton

More Info

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Coins

30+

Total Purchase Fee

0.49% (1st place)

Total Selling Fee

0.26% + $4.99 (1st place)

Trading Fee

0.20%

CAD Deposits

Free

Interac e-Transfer?

Yes

Beginner Friendly?

Yes

Advanced Trading?

Yes

Promotion

🏆 3rd Overall

Details

VirgoCX is the third great platform. It has very low fees, free crypto withdrawals for lots of coins and support for USD as well as CAD.

  • 🏆 2nd lowest total purchase fee (0.66%)
  • 🏆 3rd lowest total selling fee (0.44%)
  • ✅ Free CAD and USD deposit/withdrawals
  • ✅ Cheapest crypto withdrawals (ETH, BTC and many more are free)
  • ✅ Has advanced trading
  • 🚫 Better user-interface on Newton or NDAX

More Info

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Coins

50+

Total Purchase Fee

0.66% (2nd place)

Total Selling Fee

0.44% (3rd place)

Trading Fee

Free

CAD Deposits

Free

Interac e-Transfer?

Yes

Beginner Friendly?

Yes

Advanced Trading?

Yes

Promotion

🏆 Best for Altcoins & Lowest Spreads

Details

Binance had a 1.60% purchase fee with CAD but if you deposit crypto, it's the #1 cheapest platform because of it's low spreads. Use Binance as a secondary exchange to get access to dozens of features and 600+ cryptocurrencies. 

  • 🏆 Lowest spread for Bitcoin (0.00%)
  • 🏆 Biggest exchange in the world by trading volume
  • 🏆 More features than any other platform
  • ✅ 600+ coins with the lowest spreads
  • ✅ Staking, margin, loans, NFTs and many features
  • ✅ Best for advanced traders
  • 🚫 Not available in Ontario (use KuCoin)
  • 🚫 Not a good on-ramp/off-ramp for CAD
  • 🚫 Difficult for beginners

More Info

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Coins

600+

Total Purchase Fee

1.60% (7th place)

Total Selling Fee

N/A (can't cash out CAD)

Trading Fee

0.10% or less

CAD Deposits

1.80%

Interac e-Transfer?

No

Beginner Friendly?

No

Advanced Trading?

Yes

Promotion

🏆 Best for Altcoins (Ontario)

Details

KuCoin is the best exchange in Ontario for access to hundreds of extra coins and dozens of features. If you deposit crypto, it's cheaper than Newton and the CAD platforms because of it's low spreads. It's also the easiest to open an account because you can trade and withdraw crypto without providing ID. All you need is an email.

  • 🏆 Lowest spreads for Bitcoin (0.00%)
  • 🏆 700+ coins (1st place)
  • 🏆 20+ features (2nd place)
  • ✅ Deposit/trade/withdraw crypto with no KYC
  • ✅ Best Binance alternative for Ontario
  • ✅ 500+ coins and many features (loans, trading bots, margin, etc)
  • 🚫 Difficult for beginners
  • 🚫 Not a good CAD on-ramp/off-ramp

More Info

Header

Coins

700+

Total Purchase Fee

2.82% (13th place)

Total Selling Fee

N/A (can't cash out CAD)

Trading Fee

0.10% or less

CAD Deposits

3.00%

Interac e-Transfer?

No

Beginner Friendly?

No

Advanced Trading?

Yes

Promotion

Other Top Picks

Shakepay

Most Beginner-Friendly

Crypto.com

Best Staking & Rewards

Binance

Best for Professionals

KuCoin

Trade Without ID

Header
Newton.co
NDAX.io
Binance

Ranking

🏆 Best Overall

Lowest All-In Purchase Fee

Low All-Around Fees

Lowest Spreads & Most Features

No KYC & Best Binance Alternative

Coins

70+

30+

60+

600+

700+

Total BTC Purchase Fee with $CAD*

0.69%

0.49%

0.66%

1.60%

2.82%

BTC Spread**

1.34%

0.35%

1.11%

0%

0%

Trading Fee

0%

0.20%

0%

0.10% (or less)

0.10% (or less)

$CAD Wallet

Yes

Yes

Yes

No

No

$CAD Funding Fee

Free

Free

Free

1.80%

3.00%

BTC Withdrawal Fee

$5 off mining fees

0.000399 BTC

Free

0.0005 BTC

0.0005 BTC

Beginner Friendly

Yes

Yes

Yes

No

No

Promotion

$25 free when you trade $100

$10 free when you deposit $100

$30 free when you deposit $100

10% off trading fees forever + up to $50

10% off trading fees

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  • *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.

Last Year's Winners (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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