Best Crypto Exchanges in Canada

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Go to broker’s website OKX Overview

If you're too busy to read the entire article and want a quick answer, the best crypto exchange in Canada is OKX. Why? Here are its key advantages:

Is legit in your country (Identified as United States )
Has a good user satisfaction score 8.9 out of 10
Low trading fees
Robust security protocols

Go to broker’s website OKX Overview

Below, we'll explain in more detail why we believe this and how brokers were evaluated.

Best crypto exchanges in Canada for 2025 are:

OKX - Best automated trading solutions (copy trading, easy bot integration)
Kraken - Best for trading crypto-fiat pairs (supports 7 fiat currencies, simple trading platform)
Crypto.com - Best mobile app for crypto activities (Visa card support, trading and passive earning)
CoinMetro - Suited for conservative trading (simple UI and low leverage of up to 1:5)
Ledger Wallet - Best for managing assets in a hardware wallet (15 apps to buy, swap, earn crypto and NFTs)
Coinbase - Highest level of security (multiple regulations, high data protection standards)
Cryptohopper - Best for bot trading (highly customizable settings, support of major exchanges)

With the growing popularity of cryptocurrencies in Canada, choosing the right exchange is essential for safe and efficient trading. Whether you're a beginner or an experienced trader, the right platform can enhance your trading experience by offering secure transactions, competitive fees, and a wide range of digital assets. In this guide, we’ve compiled the best crypto exchanges in Canada for 2025 to help you make an informed decision.

Our experts compiled this list based on certain criteria, including Canadian regulatory compliance, commission fees, acceptance of Canadian users, selection of coins, ease of use, and many other factors. Read on.

Best crypto exchanges in Canada

Our experts compiled this list of top-notch Canadian-friendly cryptocurrency brokers by examining different key factors. A few of these factors include whether or not a broker accepts Canadian currency, whether or not they accept Canadian clients or users, commission fees, and compliance with Canadian regulatory laws (specifically with the Canadian Securities Administrators or CSA, the Investment Industry).

Regulatory Organization of Canada, CIRO, and the Financial Transactions and Reports Analysis Centre of Canada (or FINTRAC), variety and volume of coins available, trading features, and many more. The table below contains a list of the best Canadian crypto exchanges.

Best cryptocurrency exchanges in Canada
	Coins Supported	Min. Deposit, $	Spot leverage	Spot Maker Fee, %	Spot Taker fee, %	Open an account
Coinbase	249	10	1:3	0,5	0,5	Open an account Your capital is at risk.
BitMEX	79	0,0001	1:1	0,1	0,1	Open an account Your capital is at risk.
Bitfinex	185	100	1:10	0,1	0,2	Open an account Your capital is at risk.
Bitget	831	10 EUR	1:10	0,1	0,1	Open an account Your capital is at risk.
Kraken	278	10	1:5	0,25	0,4	Open an account Your capital is at risk.

Coinbase Review

Open an account

Your capital is at risk.

Coinbase is a popular cryptocurrency exchange, especially sought-after among novice traders. It allows you to trade all cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, BitcoinCash, and others. You will find a web version and an application for a smartphone based on iOS or Android. The crypto exchange provides services to users from 100 countries with more than 43 million active traders registered on the exchange. The total assets on the platform are equivalent to over USD 90 billion. The exchange brings to the table one-of-a-kind training programs that allow you to earn money during the learning process by improving your expertise in the crypto market. Learn what Coinbase is and how the exchange works.

BitMEX Review

Open an account

Your capital is at risk.

The BitMEX brokerage is a peer-to-peer (P2P) trading platform for cryptocurrency and other digital market assets. It is part of the HDR Global Trading Limited holding group. The company is headquartered in Seychelles with global offices. This is one of the largest cryptocurrency exchanges, with a trading volume of over $3 billion (60 thousand BTC) per day. The XBTUSD Perpetual Contract is the main exchange product and the most traded in the industry. BitMEX is expanding its offer with new perpetual contracts, traditional futures, and quantum futures instruments.

Bitfinex Review

Open an account

Your capital is at risk.

The Bitfinex crypto exchange is a platform for trading cryptocurrencies and tokens. You can freely trade Bitcoin, Ethereum, Litecoin, cryptocurrency pairs, and fiat pairs like USD, EUR, GBP, JPY, etc. The company has its proprietary trading terminal with a mobile application for margin trading; it has a leverage of up to 1:10 (up to 1:100 for derivatives). The terminal stands out for its several unique features, including scalable orders that a trader can easily customize to suit their trading strategy. Customized orders and strategies can be tested without restrictions on a demo account that does not require a capital investment. You can use bank cards for deposits and withdrawals and there are no limits on the withdrawal of funds. The platform has a typical affiliate program and several investment programs, including staking and deposit.

How to choose the best crypto exchange in Canada?

We would recommend choosing any of the crypto exchanges we’ve mentioned in this guide. However, if our list does not provide enough variety, there are a few different steps you can take to choose the best crypto exchange in Canada.

Ask yourself the following questions when evaluating a Canadian crypto exchange:

Does the crypto exchange accept Canadian customers?
Is the crypto exchange compliant with Canadian regulatory authorities such as the Canadian Securities Administrators or CSA, the CIRO, and the Financial Transactions and Reports Analysis Centre of Canada or FINTRAC? For example the VirgoCX crypto exchange is officially registered under the MSB license number (FINTRAC) M19955733.
Does the crypto exchange support the Canadian dollar as a base currency?
What are the methods of deposit and withdrawal?
What are the choice of assets and the number of available altcoins?
What are the commission fees, trading fees, and non-trading fees like?
Is the platform easy to use?
Are there many positive reviews of the platform outside of reviews on the actual platform website?

With these questions in mind, you should be able to find the right Canadian crypto exchange that suits your needs.

Rules and regulations guiding crypto trading in Canada

In Canada, cryptocurrency trading is subject to a comprehensive regulatory framework designed to ensure market integrity, protect investors, and prevent illicit activities.

Regulatory oversight

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) serves as the primary regulatory authority overseeing cryptocurrency exchanges and related activities. Exchanges operating within Canada are mandated to register with FINTRAC as Money Services Businesses (MSBs) and adhere to stringent Anti-Money Laundering (AML) and Know Your Client (KYC) protocols.

This registration process involves thorough client identification, diligent record-keeping, and regular reporting of any suspicious transactions to ensure compliance with national financial security standards.

Licensing requirements

Beyond federal mandates, certain provinces may impose additional licensing or registration requirements on cryptocurrency exchanges, contingent upon their specific operational activities. For instance, the Canadian Securities Administrators (CSA) have issued guidelines indicating that platforms facilitating the trading of crypto assets that qualify as securities or derivatives must comply with applicable securities legislation.

This necessitates registration as a dealer and, in some cases, obtaining recognition as a marketplace, thereby subjecting these platforms to a higher level of regulatory scrutiny to safeguard investor interests.

Investor protection

Investor protection remains a cornerstone of Canada's approach to cryptocurrency regulation. The CSA actively disseminates warnings and guidelines to educate investors about the inherent risks associated with cryptocurrency investments, emphasizing the importance of due diligence and informed decision-making. Additionally, the Ombudsman for Banking Services and Investments (OBSI) provides a dispute resolution mechanism, offering recourse for investors who encounter issues with cryptocurrency service providers, thereby enhancing consumer confidence in the digital asset market.

Taxation

The Canada Revenue Agency (CRA) classifies cryptocurrencies as commodities for tax purposes, leading to specific tax implications for various transactions. Profits derived from cryptocurrency transactions are generally considered taxable events, with the nature of the tax—capital gains or business income—depending on the specifics of the transaction.

Capital gains tax. When an individual disposes of cryptocurrency, such as through selling or trading, any resulting profit is typically treated as a capital gain. In Canada, 50% of the capital gain is taxable and must be reported as income. The applicable tax rate is determined by the individual's total taxable income and corresponding tax bracket.
Business income. If cryptocurrency transactions are conducted as a business activity—characterized by factors such as frequency, intention to earn a profit, and commercial nature—the profits are considered business income. In such cases, 100% of the profit is taxable. The CRA evaluates each situation individually to ascertain whether the transactions constitute a business.

Where to store crypto in Canada?

When storing cryptocurrency, you can choose between a hot wallet or a cold wallet, depending on your trading style and security needs. Both options have distinct advantages and risks, making it crucial to understand how they work.

Hot wallets: convenience with higher risk

A hot wallet is a digital wallet connected to the internet, offering instant access to trading, payments, and transfers. Crypto exchanges typically provide hot wallets, making them ideal for frequent traders or those making quick transactions.

However, this convenience comes with higher security risks. Since hot wallets are online, they are more vulnerable to hacking, phishing attacks, and fraud. To minimize risks, enable two-factor authentication (2FA) and store only a portion of your funds in a hot wallet.

Cold wallets: security with less accessibility

A cold wallet stores your cryptocurrency offline, offering the highest level of security against cyber threats. Popular options include hardware wallets like Ledger or Trezor and paper wallets, which involve printing your private keys on paper.

Cold wallets are best for long-term investors planning to hold crypto for years without regular trading. Since they remain disconnected from the internet, cold wallets are virtually immune to hacks. However, accessing funds requires manual setup, which can be less convenient for active traders.

Which should you choose:

Choose a hot wallet if you trade frequently, need quick payments, or participate in day trading. Ensure it’s from a reputable exchange with robust security measures.

Opt for a cold wallet if you’re holding crypto for the long term and want maximum security. Store backups of your wallet keys securely to avoid losing access.

Where can I use crypto in Canada?

There are a few options available. First, it’s completely legal to purchase and sell crypto in the country of Canada. While Bitcoin is not technically legal tender in Canada, it can still be used to purchase different products and services via merchant websites or in-store shops in different parts of Canada. In general, it is usually much easier to buy products and services via online shops with Bitcoin instead of in person. Just as well, there are over 870 Bitcoin ATMs currently available in Canada that allow conversions, withdrawals, and Bitcoin purchases. It’s worth noting that one will need to pay a fee, mainly for conversions, to use these ATM kiosks.

Is crypto a good buy?

We would say that cryptocurrency can be a good investment. However, it’s worth noting that crypto is quite volatile and offers a lot of risk that some investors may not be interested in. We recommend conducting a risk assessment to see just how much capital you are able to risk before purchasing cryptocurrency.

Can I buy something with Bitcoin?

Absolutely. To start, choose a good Bitcoin wallet. For Canadians, we recommend Mycelium, Trezor, Coinbase, or Exodus. Load your wallet. From there, find a vendor that accepts crypto. In order to purchase something from a vendor with Bitcoin, you have two different options. The first is to send Bitcoin to a specific public address owned by the merchant via your wallet.

Alternatively, you can scan a Bitcoin QR code provided by the vendor or merchant. There are many Canadian stores that accept Bitcoin. A few of them include Zynga, Domino’s Pizza, Fancy.com, Euro Pacific, PSP Mollie, Shopify, MovieTickets.com, and WebJet.

The best exchanges balance security, diverse trading options, and affordable fees.

Choosing the best crypto exchange in Canada comes down to three key factors: regulatory compliance, trading features, and user experience. I suggest that traders use exchanges that are CSA-compliant and FINTRAC-registered because they provide an additional layer of protection for their funds.

While some platforms offer advanced tools like futures trading and staking, beginners should prioritize ease of use and customer support. Additionally, CAD support, low withdrawal fees, and user-friendly interfaces are crucial for Canadian investors. The best exchanges balance security, diverse trading options, and affordable fees, making cryptocurrency trading in Canada safer and more accessible than ever. Choose wisely based on your trading style and long-term investment goals.

Methodology for compiling our ratings of crypto exchanges

Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.

Summary

Crypto exchanges let you buy, sell, and trade digital currencies like Bitcoin. While many cater to U.S. users, Canadian investors have several great options. Top exchanges include Coinbase, Binance, Gemini, Kraken, and Crypto.com, with Coinbase being the best pick for Canadian traders due to its reliability and ease of use.

When choosing an exchange, consider factors like CAD support, compliance with Canadian regulations, fees, features, and available cryptocurrencies. Remember, while crypto trading is legal in Canada, it isn’t considered legal tender. Use cold storage wallets for better security and consider hot wallets for day trading convenience.

FAQs

What is a crypto wallet?

A crypto wallet is a storage mechanism you can use to store, send, and receive cryptocurrencies. It uses a public key (shared to receive funds) and a private key (kept secret to secure assets). Losing keys means losing access to funds.

What is the purpose of crypto?

The cryptocurrency was designed as a decentralized digital currency for fast, borderless payments. It eliminates intermediaries like banks, reducing transaction costs and boosting accessibility.

Do you need a broker to trade crypto in Canada?

No, but using a crypto exchange simplifies trading for beginners. Experienced users can trade through decentralized exchanges (DEXs) without a broker.

Who controls the Bitcoin network?

No single person or entity controls Bitcoin. It runs on a global decentralized network maintained by users and miners who verify transactions and secure the blockchain. Consensus keeps the system running efficiently.

Team that worked on the article

Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.

Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).