Best App to Buy Crypto (November 2022) + Get up to $200 in bonuses - Comparewise
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#1 Choice
Get $20

Coinsmart

$20 BTC
Welcome Bonus
$100
Min Investment
  • Trade 16+ coins
  • Fund with e-Transfer
  • Instant account verification
Pros & Cons
Extra Details
Popular
Get $30

Bitbuy

$30
Welcome Bonus
$250
Min Investment
  • Trade 25+ coins
  • Fund instantly with e-Transfer
  • Refer friends and get $40
Pros & Cons
Extra Details
Best Value
Trade

Changelly

0.5% - 5%
Low Fees
200+
Coins Available
  • Exchange any crypto instantly
  • No proof of identity required
  • Competitive trading rates
Pros & Cons
Extra Details
Get $25

Netcoins

$25
Bonus
22
Coins Available
  • 0% funding fee & 1-click trading
  • Free cash withdrawals
  • Earn cashback in BTC
Pros & Cons
Extra Details
Get $25

Newton

$25
Welcome Bonus
$100
Min Investment
  • Trade 70+ coins instantly
  • Fund fast with e-Transfer
  • Super low fees & user-friendly
Pros & Cons
Extra Details
Get $30

Coinberry

$30
Welcome Bonus
$50
Min Investment
  • Trade 29+ coins
  • Fund instantly with e-Transfer
  • 0% deposit/withdrawal fees
Pros & Cons
Extra Details
Get $30

Shakepay

$30
Welcome Bonus
2
Coins Available
  • Instant account verification
  • Fund instantly through e-Transfer
  • Commision-free trading
Pros & Cons
Extra Details
Get $16

Coinbase

$16
Welcome Bonus
100+
Coins Available
  • Insured up to a max of $250,000
  • Supported in 100+ countries
  • Crypto stored securely offline
Pros & Cons
Extra Details
Get $100

Binance

From 0.1%
Low Fees
600+
Coins Available
  • Trade Bitcoin for free
  • Get up to $100 in welcome rewards
  • Earn with crypto through staking
Pros & Cons
Extra Details
From 0.1%
Low Fees
700+
Coins Available
  • Up to 500 USDT in bonuses
  • 24/7 customer services
  • Join the global KuCoin community
Pros & Cons
Extra Details
20% APR
Earn Up To
300+
Coins Available
  • Get $100 bonus if you top up $1k
  • Every trade gets up to 0.5% reward
  • Earn daily interest on crypto
Pros & Cons
Extra Details
Trade

Uphold

$1
Minimum Deposit
130+
Coins Available
  • Crypto, 50 stocks, 37 currencies
  • Zero fees and low spreads
  • Stake and get rewards up to 19.5%
Pros & Cons
Extra Details
20% APR
Earn Up To
300+
Coins Available
  • Get up to 5% cash back
  • Deposit 30 Stellar USDC, get 50 USDC
  • Get up to 50% with staking
Pros & Cons
Extra Details
Trade

Coinmama

0.99%
Fees Starting Form
16
Coins Available
  • No deposits required
  • Available in 188 countries since 2013
  • Trusted by millions
Pros & Cons
Extra Details
Trade

EQONEX

0.08%
Fees Starting At
3
Coins Available
  • Spot & derivatives digital asset trading
  • Secured by FCA, ISO certified custodian
  • Nasdaq-listed company
Pros & Cons
Extra Details
Trade

Kraken

$10
Minimum Deposit
100+
Coins Available
  • Fees as low as 0%
  • Earn up to 23% in rewards annually
  • 24/7 live support
Pros & Cons
Extra Details
Trade

Crypto.com

$20
Welcome Bonus
250+
Coins Available
  • Earn up to 8.5% on crypto
  • Earn up to 14% on stable coins
  • Earn extra with staking
Pros & Cons
Extra Details
Get $30

VirgoCX

$30
Welcome Bonus
25+
Coins Available
  • Zero deposit fees for e-transfer
  • Zero trade fees, trade fast and free
  • Trade 25+ cryptocurrencies for free
Pros & Cons
Extra Details
Trade

WonderFi

15 seconds
Interest Accrues Every
100+
Coins Available
  • Earn Interest on Assets
  • Crypto, DeFi, gaming and NFTs
  • Compliant and regulated
Pros & Cons
Extra Details
$100
USDC
11+
Coins Available
  • 0.35% commission, no other charge
  • Earn up to 7% APY interest
  • Get 100 USDC when you sign up
Pros & Cons
Extra Details

Best App to Buy Crypto (November 2022)

Are you looking for the best app to buy crypto in Canada? Many apps allow you to buy and sell cryptocurrencies. Each one comes with features and specs that make them stand out.

Are you looking for the best app to buy crypto? Discover our top 15 recommended crypto apps for those who want to buy, sell, trade, & invest.

If you’re searching for the best app to buy crypto, our top pick, with 17 cryptocurrencies on offer, is Bitbuy. CoinSmart, Coinberry, Newton, VirgoCX, Shakepay, Netcoins, Ndax.io, Crypto.com, KuCoin, Gemini, Coinbase, Binance, Coinmama, and CEX.io are also among our top recommendations. Remember to select the app with the features, fees, support, security, and interface you are most comfortable with.

Understanding what these apps can do for you before deciding which one will work best for your needs is essential. This guide will help you find the best app to purchase cryptocurrency in Canada. It will outline some of the most popular options, their pros and cons, and why you should consider using one over another.

What to Consider When Choosing the Best App to Buy Crypto in Canada

When choosing an app to buy crypto, there are several things you need to take into consideration. Some of the most common things you should look out for include:

Crypto App Features

When choosing a good app to buy crypto, the first thing you need to think about is how many features it has. You want to know if they have a mobile wallet where you can store your coins or if they just let you send money to someone else’s wallet. Also, does it support multiple currencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC)? If so, then this is great because you don’t have to worry about converting your currency.

App Security

Another critical feature to consider is security. The last thing you want is to lose all of your funds due to hacking or phishing scams. It’s best to check reviews from other users on sites such as Trustpilot or Google Play Store to see their experience with the app.

Convenience

Another factor to consider is convenience. Apps that are easy to use are usually more convenient than those that require advanced technical knowledge. For example, suppose you are new to cryptocurrency. In that case, you may not be able to figure out how to set up a wallet independently.

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Service Fees

You also need to keep fees in mind when buying crypto through an app. Some apps charge very high fees, while others offer free transactions. Look for ones that give you the lowest possible fee for each transaction.

Customer Support

Finally, make sure you choose an app that offers 24/7 customer service. This way, if you ever run into any problems, you won’t have to wait days or weeks to get a response.

The Best App to Buy Crypto: Top 15 Ranked

Now that we know what to look for, we can search for the best Canadian crypto apps. The following section will walk through all the different types of apps available on the market today. We’ll discuss the advantages and disadvantages of each type of app and then give our recommendations based on those findings.

Bitbuy

  • Serving 350,000+ Canadians
  • Over $4 billion traded
  • Refer a friend and get $40
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Get a $30 Bitbuy Welcome Bonus now when you sign up - Claim this offer

1.  Bitbuy

Bitbuy is the best app to buy crypto in Canada if you’re after lower fees. It offers 17 cryptocurrencies, promptly verifies accounts, and protects your funds with a cold storage policy and other security measures. Bitbuy is a registered Money Service Business with FINTRAC.

Bitbuy Overview

  • Supported Coins and Tokens: 17
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.20%

Bitbuy Pros

In addition to its simple web platform, the Bitbuy app supports 17 cryptos, has the lowest trading fees in Canada, and has narrow trade spreads, around 0.3%.

They provide friendly customer services, verify accounts instantly for most users, and a Bitbuy Pro version for advanced traders. Furthermore, 95%+ of crypto assets are cold stored and insured.

Bitbuy App Interface-Comparewise

Bitbuy Cons

The downside to this app is that its fiat deposits and withdrawals range between 0.5-1.5%. Mining costs also range from $1 to $20 for crypto withdrawals. Bitbuy is available to only Canadians and only accepts Canadian dollars.

Why Choose Bitbuy

Bitbuy’s excellent customer service, sleek mobile interface, and inexpensive trading costs are other favourites. Once you Sign up with Bitbuy using a bonus link, you get an extra $30 to trade big coins like Bitcoin and Ethereum and lesser altcoins like Cardano and Solana.

CoinSmart

  • Smart trade feature for quick trading
  • Instant account verification
  • Fund through e-transfer
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2.  CoinSmart

As of 2022, Canada’s top cryptocurrency trading platform is CoinSmart. In addition to supporting 16 different coins, it provides top-notch customer service, and transaction costs are exceptionally inexpensive. Investing in CoinSmart is safe because it is a publicly-traded corporation and, as such, is subject to stringent financial controls.

CoinSmart Overview

  • Supported Coins and Tokens: 16
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.20%

CoinSmart Pros

CoinSmart is the best app to buy crypto because it has the lowest trading commissions in Canada, with a narrow spread of 0.3%. They provide customer service 24/7, live chat, and email support.

They store 95+% of crypto assets in cold storage and are insured for $100M.Coinsmart also verifies accounts instantly and provides a simple web platform for fast deposits and withdrawals.

Coinsmart Mobile App Crypto - Comparewise

CoinSmart Cons

In addition to the fact that typical crypto withdrawal cost ranges from $0.50 to $10, INTERAC also charges 1.5% if you deposit less than $2,000. The platform only accepts Canadian dollars and requests an extra 6% fee for card deposits.

Why Choose CoinSmart?

CoinSmart has a 95% cold storage policy, meaning that 95% of its consumers’ crypto is offline. This protects users’ crypto funds from hackers and criminal actors and makes trading with CoinSmart nearly risk-free. CoinSmart is also regulated by FINTRAC and the Ontario Securities Commission (OSC).

Coinberry

  • Over 35 cryptocurrencies available
  • Cheapest crypto exchange, 0% deposit & withdrawal fees
  • Fund using e-transfer
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3.  Coinberry

Coinberry is a Toronto-based cryptocurrency exchange. This platform is ideal for Canadians wishing to buy cryptocurrency using dollar-cost averaging or for new investors searching for one of the most straightforward crypto exchanges.

However, its spread rate can reach 2.5%, which adds up over time and represents thousands of dollars wasted in more significant transactions.

Coinberry Overview

  • Supported Coins and Tokens: 30
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0 to 2.5%

Coinberry Pros

Coinberry offers 30 cryptocurrencies supported by the platform, and it does not charge any fees for CAD deposits or withdrawals. It also allows you to make instant deposits and withdrawals via credit card and INTERAC e-transfers.

Coinberry Mobile App - Comparewise

Coinberry Cons

Coinberry’s bid-ask spread rate prevents its biggest downside. However, even though there are no fees for CAD deposits and withdrawals, you still have to pay a spread charge of up to 2.5% for each transaction.

Why Choose Coinberry

Coinberry allows customers to instantly verify their accounts, allowing them to start trading crypto in as little as one minute. The Coinberry Autopilot feature will enable you to buy cryptocurrencies using the time-tested dollar-cost averaging approach.

Lastly, if you want an app with a straightforward payment processing option, Coinberry is the best one for you.

Newton

  • Get a $25 bonus when you sign up
  • Canada's low-cost crypto trading platform
  • Instant account verification & e-transfer deposit
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Get a $25 bonus when you sign up and trade $100 - Claim this offer

4.  Newton

With Newton, it’s easy to purchase and sell crypto assets on this platform. Commission-free trading, third-party custody, and rapid account verification are just a few of the many benefits it provides. There’s no doubt that Newton is one of the best apps to buy crypto.

Newton Overview

  • Supported Coins and Tokens: 34
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.1 to 1%

Newton Pros

Compared to other Canadian exchanges, this platform has a broader range of crypto coins. Newton has a simple and easy-to-use interface, and it also has low fees and covers the C$5 network fee. Newton has robust security measures, low spreads, and a lot of liquidity.

Newton-Crypto-Interface - Comparewise

Newton Cons

Some users have said that the verification process can take a while. You can only make an account on this platform if you are a Canadian citizen or a permanent resident. Lastly, you can’t pull money out of Newton until they clear the fiat payments.

Why Choose Newton

The team at Newton is signed up with FINTRAC and follows KYC/AML rules. Newton Exchange checks new traders’ identities, encouraging users to use two-factor authentication. Newton Exchange also keeps user funds in cold storage, connected to the internet, and spread across multiple locations.

VirgoCX

  • Zero deposit fees for e-transfer or wire transfer
  • Zero trade fees, trade fast and free
  • Trade 25+ cryptocurrencies for free
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Start trading 25+ cryptocurrencies fast and free with no fees - Claim this offer

5.  VirgoCX

The VirgoCX cryptocurrency exchange is a significant player in the Canadian crypto trading business. Trading pairs with fiat (USD and CAD) and fast transaction speeds are hallmarks of the exchange.

The lack of a minimum deposit, the exchange’s transparency, and the TradingView-based trading terminal’s ease of use attract beginners.

VirgoCX Overview

  • Supported Coins and Tokens: 40+
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: None

VirgoCX Pros

VirgoCX is fully registered with FINTRAC and has a perfect safety record. Plus, they offer minimal fees, requiring no fees to trade, deposit, or withdraw. Lastly, the platform has an easy sign-up process to help new users learn about cryptocurrency.

Virgocx-Mobile-App-Comparewise

VirgoCX Cons

Compared to platforms like Coinbase and Binance, liquidity is lower. This crypto exchange doesn’t offer ways to invest, only trading and referral programs.

Why Choose Virgo CX

Aside from being a fully regulated cryptocurrency trading platform, the app provides commission-free trading, deposits, and fiat withdrawals. You can fund your account instantly and trade different coins using Interac e-Transfer.

Shakepay

  • Fast, secure, & reliable
  • Zero fees to trade crypto
  • Crypto Visa card included
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Get a $30 bonus when you sign up and start trading on Shakepay - Claim this offer

6.  Shakepay

Canadians can instantly use Shakepay to purchase and trade cryptocurrencies like Ethereum and Bitcoin. It has proven to be one of the best platforms to buy crypto, with over 800,000 users on the app since launching in 2015. Shakepay has an app on the App Store and Google Play. Take a look at them to get a feel for the service.

Shakepay Overview

  • Supported Coins and Tokens: 2
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 1.75%

Shakepay Pros

Shakepay offers a $0 transaction fee for deposits and withdrawals and free BTC for every referral you make to the platform. Another reason why Shakepay is the best app to buy crypto in Canada is that it’s easy to use and has a good support team to assist you if you have any troubles.

Shakepay Crypto Mobile App Exchange - Comparewise

Shakepay Cons

The downside to this app is that it only has BTC and ETH as trading currencies, plus CAD is the only acceptable fiat. Also, there are no updates such as watch list, news, research, etc.

Why Choose Shakepay?

Shakepay is the fastest way to buy or sell Bitcoin at today’s prices. The app has a simplistic interface that allows you to easily trade and manage your crypto. You can view your trade history and real-time market movements within the app.

Netcoins

  • Fast, one-click trading
  • Pay bills and make purchases with crypto
  • Earn cashback in BTC
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Get a $25 welcome bonus when you trade $100 on Netcoins - Claim this offer

7.  Netcoins

Netcoins is a Canadian cryptocurrency exchange with a Bitcoin ATM. It was formed in 2014 and is owned by BIGG Digital Assets, which trades on the CSE as “BIGG.”

Netcoins Overview

  • Supported Coins and Tokens: 10
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.50%

Netcoins Pros

Netcoins is easy to use for beginner crypto traders, and it provides almost-instant account verification. This platform offers a 0.50 % trading fee and has a price alerts feature. Unlike most Canadian crypto trading platforms, Netcoins supports CAD and USD, including credit card deposits and withdrawals.

Netcoins Mobile App Crypto - Comparewise

Netcoins Cons

This platform offers a limited coin selection compared to other crypto trading platforms. Also, it doesn’t have any sophisticated charting tools or little order books.

Why Choose Netcoins?

Netcoins allows you to set price alerts for any coin, which comes in handy if you want to expand your portfolio if a coin hits a particular threshold. It also accepts cash and crypto deposits and withdrawals.

NDAX.io

  • Instantly buy crypto with low 0.2% trading fees
  • Lowest fees in Canada plus earn more with staking
  • Largest portfolio of coins in Canada
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8.  NDAX.io

The National Digital Asset Exchange (NDAX) is a cryptocurrency exchange in Canada that lets you buy and sell Bitcoin, Ethereum, other altcoins, and stable coins. NDAX.io stands out in this list thanks to its low trading fees and zero maintenance fees.

NDAX.io Overview

  • Supported Coins and Tokens: 31
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.2%

NDAX.io Pros

The platform offers a variety of crypto/crypto and crypto/CAD pairs. NDAX.io also has high transaction speeds for trades, deposits, and withdrawals.

There’s a high level of platform security provided by multi-level encryption. Lastly, they operate with fixed trading commissions of 0.2%, which doesn’t depend on the trading volume and other factors.

Ndax Crypto App - Comparewise

NDAX.io Cons

NDAX.io doesn’t offer investment solutions, such as a demo account for novice traders.

Why Choose NDAX.io

NDAX.io is the best app to buy crypto because it doesn’t charge for deposits and has a fixed withdrawal fee. They don’t change based on how much you take out. Its instant crypto function allows clients to send cryptocurrencies, coins, and fiats to each other for free.

Crypto.com

  • Accessible in most countries
  • Stacking capabilities to earn interest
  • Several tiers of Visa cards
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9.  Crypto.com

Crypto.com is a cryptocurrency exchange that lets you trade, invest, and stake more than 250 currencies. It has reasonable fees and discounts for people who own its native coin CRONOS (CRO). It also provides an NFT marketplace and free wallets to hold your tokens.

Crypto.com Overview

  • Supported Coins and Tokens: 250
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.40%

Crypto.com Pros

Crypto.com provides multiple trading tools that allow you to make the most of your crypto trading. It offers low fees, a free crypto wallet, a credit card, etc. Furthermore, it supports crypto staking and token swapping, all within the app.

Banner-Crypto.com Review - Comparewise

Crypto.com Cons

Users who don’t own CRO tend to pay higher fees. Some customers have also expressed dissatisfaction with the speed and quality of customer service responses. The discount tiers on Crypto.com’s trading fees may be difficult to understand.

Why choose Crypto.com

Crypto.com could be a great choice if you want to buy and hold currencies like Bitcoin and Ethereum. The company also offers cryptocurrency credit cards, a decentralized exchange, a crypto wallet that works independently, and a marketplace for NFTs. It also lets users stake their crypto or keep it in a Crypto.com wallet for a specific timeframe to earn up to 14.5% interest.

KuCoin

  • Available in over 150 countries
  • Supports 500+ cryptocurrencies
  • Great for beginners and pros
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Trade over 600 coins for extremely cheap fees, starting at only 0.1% - Claim this offer

10.  KuCoin

KuCoin is a significant exchange for cryptocurrencies where you can buy, sell, and trade them. You can do basic trading and margin, futures, and peer-to-peer (P2P) trading on the platform. Users can also stake or lend their cryptocurrency to get rewards.

KuCoin Overview

  • Supported Coins and Tokens: 600
  • Free Wallet: Yes
  • Maintenance Fees: None
  • Trading fees: 0.50%

KuCoin Pros

KuCoin users can earn interest on their cryptocurrency by staking certain assets or lending them to others and charging interest. Compared to other large exchanges, KuCoin’s trading fees are pretty low. Each trade will cost you between 0.0125 %and 0.10%. KuCoin also lets you trade over 600 cryptocurrencies.

Kucoin Mobile App - Comparewise

KuCoin Cons

You may experience some difficulties using the app when there’s high traffic. There’s also low trading volume on the app, especially with smaller altcoins.

Why Choose KuCoin

KuCoin is perfect for you if you’re looking to buy smaller and undiscovered coins, thanks to its impressive listing.

Gemini

  • Secured with a state-of-the-art storage system
  • Buying and selling crypto is simple, reliable, and secure
  • 24/7 customer support
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Sign Up To Earn 3% Rewards In Bitcoin & 60+ Cryptocurrencies - Claim this offer

11.  Gemini

Gemini is the best app to buy crypto if you love security and convenience. Gemini’s online storage, hardware security keys, and insurance coverage are second to none in the region.

Gemini Overview

  • Supported Coins and Tokens: 50+
  • Free Wallet: Yes
  • Convenience Fees: 0.5%
  • Trading fees: 1.49%

Gemini Pros

Gemini offers close to 100 cryptocurrencies and a low minimum to fund accounts. It also has an insurance cover to protect users who lose funds due to hacks. It offers faster order execution, trading pairs and auctions for cryptocurrencies, and charting tools.

Gemini Crypto App - Comparewise

Gemini Cons

Gemini’s fees are a little higher than some other crypto brokerages. It also charges a flat 0.5% more than the current trading price for people who use its mobile and web apps. This is what Gemini calls its “convenience fee.”

Why Choose Gemini

Gemini has an easy-to-use interface for people new to investing in crypto. Its ActiveTrader feature is excellent for more experienced traders. Some exchanges charge less for crypto traders. Still, Gemini’s safety measures and insurance against online breaches might help people new to trading cryptocurrencies feel more at ease.

Coinbase
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12.  Coinbase

Coinbase users can trade on two platforms: the original Coinbase platform, where users can buy cryptocurrency with CAD, and Coinbase Pro, which has advanced charting features. It lets users trade crypto-to-crypto and place market, limit, and stop orders.

Coinbase Overview

  • Supported Coins and Tokens: 100
  • Free Wallet: Yes
  • Maintenance Fee: None
  • Trading fees: 0.5%

Coinbase Pros

Coinbase has insured its platform, allowing you receive compensation in the unlikely event of a hack. Further, Coinbase has a series of video classes and tests that you can take to learn more about trading cryptocurrencies. Users can also earn specific coins by taking the classes.

Coinbase1 - Comparewise

Coinbase Cons

When you buy or sell cryptocurrency on Coinbase, there is a spread of about 0.5%. Depending on how the market is doing, the spread could be higher or lower. Coinbase also has a fee, either a flat fee or a fee that changes based on how much you buy and how you pay.

Why Choose Coinbase?

Coinbase is a safe way to buy and sell cryptocurrencies and invest in them. The app has an easy-to-use interface for new users, and the Pro app offers lower fees and more features.

Binance

  • Trade 65+ cryptocurrencies
  • A low-cost crypto trading platform for Canadians
  • P2P trading, spot trading, and margin trading
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Buy crypto in minutes with the world’s largest cryptocurrency exchange - Claim this offer

13.  Binance

Although Binance doesn’t offer its services to Ontario-based users due to a suspension, it’s still the best app to buy crypto in Canada. One of the reasons is that it provides the most cryptocurrency listing than any other platform.

Binance also has lower trading fees and more cryptocurrencies than some of its competitors and is known for facilitating quick trades. Changpeng Zhao, the founder of Binance, started the company in China in 2017.

Binance Overview

  • Supported Coins and Tokens: 600+
  • Free Wallet: Yes
  • Maintenance Fee: None
  • Trading fees: 0.1%

Binance Pros

The most significant advantage of buying crypto through Binance is that it offers over 600 coins, outpacing many other cryptocurrency exchanges in the region. The app also provides a peer-to-peer network that allows users to trade crypto among themselves.

Furthermore, it offers some of the lowest trading fees around. Its app also makes it very simple to buy and sell cryptocurrencies and trade between them.

Binance Cons

One of the significant drawbacks of purchasing crypto through Binance is that it has some restrictions. For example, Ontario residents cannot buy crypt with the app due to regulatory concerns.

Why Choose Binance

If you’re looking for the best app to buy crypto in Canada, Binance is the way to go. Not only does it provide the largest selection of coins, but it also offers some of the lowest fees.

Coinmama

  • Buy crypto with a credit or debit card
  • Fees from 5.5% to 5.9%
  • Made for newcomers
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14.  Coinmama

If you’re new to the space and want a clean app to start your crypto journey, then Coinmama is for you. It allows you to buy up to 10 cryptocurrencies by acting as a broker. Furthermore, it comes with a clean interface that’s easy to navigate.

Coinmama makes it easy and quick to buy cryptocurrency with a credit card or debit card. Still, it charges high fees, probably the most elevated.

Coinmama Overview

  • Supported Coins and Tokens: 10+
  • Free Wallet: Yes
  • Maintenance Fee: None
  • Trading fees: 2.93- 3.9%

Coinmama Pros

Coinmama is the best exchange for a crypto newbie to buy their first coin as it simplifies the buying process. The platform offers fast transaction times and is one of the few exchanges that accept debit card purchases in Canada.

While Coinmama does not offer live chat or phone assistance, their email help is prompt and dependable.

Coinmama X Zengo - Comparewise

Coinmama Cons

One downside to using Coinmama is the fees. Depending on your chosen method, you can pay anywhere between 5% to 10% when depositing funds. Advanced crypto users will find out quickly that Coinmama doesn’t have much to offer for the high fees it charges.

Why Choose Coinmama

Overall, Coinmama is the best app to buy crypto in Canada if you just want to trade major coins. While it offers some pretty high fees, you’ll find the app convenient and responsive.

CEX.io

  • Earn crypto by staking on CEX.io
  • Get CEX.io birthday bonuses
  • Buy crypto with a debit or credit card
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Earn Monthly Rewards By Simply Holding Your Coins With CEX.IO - Claim this offer

15.  CEX.io

CEX.io is the preferred crypto trading app for more seasoned users. It provides tons of features that facilitate buying, selling, and earning crypto, all in a simple, clean app. It also provides a wide selection of assets and cutting-edge trading features.

CEX.io Overview

  • Supported Coins and Tokens: 100
  • Free Wallet: Yes
  • Maintenance Fee: None
  • Trading fees: 0.25% to 0.1%

CEX.io Pros

CEX.io’s wide selection of crypto listings is helpful if you want a more diverse portfolio. What’s more? It even allows you to borrow fiat for a short time using your crypto as collateral. This is especially helpful if you want to purchase a new coin without spending money from your account or using your current crypto.

Cex.io Crypto Mobile App - Comparewise

CEX.io Cons

CEX.io has many features aimed at different markets, making it harder for people who have never bought cryptocurrency before to use it. Even though CEX.io is a global exchange, it has less liquidity than its international competitors.

Why Choose CEX.io

CEX.io’s Earn program, which lets you earn incentives on your crypto holdings, is one of its best features. The exchange also provides competitive interest-bearing crypto savings accounts. CEX.io excels in safety, which is a prerequisite for every crypto exchange.

Best App to Buy Crypto Final Thoughts

There are many options to consider when finding the best app to buy crypto in Canada. Each app has unique benefits and drawbacks, so your choice will ultimately determine what works best for you.

Overall, go for an app that provides a good user experience and has a strong community of traders. If you’re looking for an app that supports multiple cryptocurrencies, ensure it’s secure and has a low maintenance fee. Finally, don’t forget to check the fees associated with each app. Thanks for checking out the best app to buy crypto!

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May 6, 2022
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FAQs about the Best App to Buy Crypto

Which app is best to buy cryptocurrency in Canada?

CoinSmart is the best option among Canadians, followed by Bitbuy. Their simplicity makes it easy for beginners to get started. They both offer competitive fees, but CoinSmart offers better customer service and a more comprehensive range of cryptocurrencies.

How do I buy cryptocurrency in Canada?

You can buy crypto through different crypto exchanges operating in the region. However, most Canadian residents prefer to use local platforms like CoinSmart, Bitbuy, Gemini, etc.

What app can I use to buy Bitcoin in Canada?

Shakepay, CoinSmart, and Bitbuy are the best apps to buy Bitcoin in Canada. All three provide similar services, but they differ in fees and supported currencies. Shakepay charges the lowest fees and has a simple interface.

Can I buy crypto with PayPal Canada?

No. You cannot buy crypto directly with PayPal. This feature is only available to US customers.

Is buying cryptocurrency legal in Canada?

Yes, you can legally buy cryptocurrencies in Canada. However, the government doesn't consider them legal tender. So you can't use them to pay taxes even though some companies accept them as a form of payment.

Can Canadians use Coinbase?

Coinbase is now available in Canada and allows users to buy and sell over 100+ cryptocurrencies. There are no restrictions, and users can use the app to its fullest potential.

What is the safest way to buy cryptocurrency in Canada?

The safest way to buy cryptocurrency is to use a regulated crypto exchange with insurance coverage. The best option is Netcoins, followed by NDAX.io. Combined with insurance coverage, these exchanges have a clean record of security.

Are there any other ways to buy cryptocurrency in Canada besides using an app?

Yes. Most exchanges offer a web version of their platform where you can trade without downloading an app. These online platforms allow you to deposit fiat currency into your account. You also get to enjoy the same features offered by mobile apps.

Can the CRA track cryptocurrency?

Yes, the Canadian Revenue Agency (CRA) can track almost all transactions made on digital wallets. It only depends on the measures you take to obscure a specific transaction. For instance, say you purchase Bitcoin from a cryptocurrency exchange and sell it back to the same exchange 12 months later. In that instances, the CRA will be able to track your transaction efficiently. However, perhaps you send Bitcoin through multiple pseudonymous wallets and then sell it on a different exchange. In this case, it will be more difficult for the CRA to track your transaction. Note, however, that all exchanges are obligated to report all transactions above $10,000 to the CRA.

Is crypto considered security in Canada?

Cryptocurrencies are considered securities under Canadian law. As such, they fall under the purview of the Securities Commission of British Columbia (SCBC). Securities are tradable assets representing ownership rights or property interests such as stocks, bonds, mutual funds, real estate, etc. Cryptocurrency falls under this definition because it represents ownership rights in the property. If you're looking to invest in crypto, make sure you do so through a licensed broker or dealer.

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