7 Best Binance Alternatives in Ontario (with LOW Fees)

Even though Binance left Ontario, there are many great altcoin exchanges that you can use instead. Check out the best options in this list.

Updated: Apr 20, 2024

Best Binance Alternatives
  • Although Binance left Canada in 2021, there are great alternatives with hundreds of altcoins, low fees, and everything you need.
  • One of the best options is Bitget. You have to KYC, but it offers everything you need like 750+ coins, crypto futures and low fees.
  • Another great choice is BYDFi, which requires no VPN and no KYC, making it very easy to sign up.

What Happened With Binance?

In 2021, Binance pulled their services out of Ontario and customers had until Dec 31, 2021 to withdraw their assets. Fast forward to May 2023 and Binance announced they're leaving Canada entirely. The reason they left is due to strict regulations from the Ontario Securities Commission (OSC) and Canadian regulators.

They're far from the only company to leave. Many leading crypto exchanges like Gate.ioOKX, Huobi Global, and others also stopped serving customers in Ontario for similar reasons.

List Of Binance Alternatives

Here are the best Binance alternatives we rounded up. All of these exchanges will onboard residents from Canada and Ontario:

  • Bitget: 750+ Coins Supported (Top Pick!)
  • BYDFiNo KYC, No VPN! (Second Pick)
  • KrakenBest Regulated Exchange
  • BingX700+ Coins Supported
  • Phemex: 200+ Coins Supported
  • AscendEx: 300+ Coins Supported
  • Fairdesk180+ Coins Supported

1. Bitget

Bitget Exchange Website

Bitget is the best option because it's a global exchange with 750+ coins, low fees, and billions in trading volume. The spot trading fees are only 0.10% and futures trading fees are only 0.02% / 0.05%, which are the same as Binance. It will have all the crypto features you need.

This CEX has over 25 million users and is considered secure with a $400M insurance policy and Proof of Reserves. Canadians have to KYC, but surprisingly, you'll get accepted and then have full access to this awesome trading platform!

How To Get Started

  1. Go to Bitget with this link for a 10% lifetime discount + bonus
  2. Register and verify your email
  3. Complete the KYC verification (it will approve in <24 hours)
  4. Click "Deposit" and choose a coin
  5. Deposit crypto from your wallet or a Canadian CEX
  6. Start trading!

2. BYDFi

BYDFi Website

BYDFi is a great alternative if you want a platform with no KYC and no VPN required. You can sign up with your email and deposit, trade, and withdraw crypto as you please.

Out of the non KYC, non VPN platforms we reviewed, BYDFi is a leader because it has 450+ coins, good fees, and high trading volume. The exchange has 500K users, spot trading, derivatives, and more. The UX and mobile app also work very well.

How To Get Started

  1. Go to BYDFi using this link for a 5% lifetime discount + bonus
  2. Enter your email and password to create an account
  3. Verify your email address
  4. Click "Deposit" and choose a coin
  5. Deposit crypto from your wallet or a Canadian CEX
  6. Start trading

Keep in mind, non KYC accounts can only withdraw 1.5 BTC every 24 hours. For more info on BYDFi, find our in-depth review here.

3. Kraken

Kraken Pro Trading View

Kraken is the closest exchange to Binance that's fully regulated in Canada. It's one of the safest exchanges in the world, lets you deposit and withdraw $CAD (e-transfers are supported), and let's you buy and sell 200+ cryptocurrencies.

It doesn't offer margin trading or as many features as the platforms above, but Kraken is registered with the OSC and a suitable fiat on-ramp. It's friendly for beginner and advanced traders and it has a 0.16% maker fee and 0.26% taker fee.

How To Get Started

  1. Go to Kraken and create an account
  2. Pass the KYC verification
  3. Deposit some cryptocurrency or $CAD from your bank
  4. Start trading

For an in-depth review on Kraken Canada, click here.

4. Other Binance Alternatives

If you want more options, there are many high quality crypto exchanges that are similar to Binance:

Keep in mind, some platforms will require a VPN because they block your IP address. You can get around geo-blocks with a VPN like NordVPN or Surfshark (use at your own risk).

Wrapping Up

Despite losing Binance and some of the best cryptocurrency exchanges in the world, Ontario still has great alternatives to consider. Ontario residents are able to trade thousands of coins and get access to any opportunity in the crypto space.

More Resources

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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