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Customers can deposit funds through credit/debit cards, bank drafts, bank wires, and Interac e-Transfer. Transactions with credit/debit cards are instant, while those with bank drafts, bank wires, and Interac e-Transfer might take a day. Transaction fees for Interac e-Transfer and bank wires are 1.5% for transactions less than $1999. When the transactions are over $2000, the transaction fee is 0%. Credit/debit card transactions attract up to 6% for deposits, while bank drafts are free.
Getting Started
Opening a Coinsmart account will require your email address, password, and other personal information like your name and date of birth. Coinsmart offers a mobile app and a crypto wallet for investors. The Coinsmart referral program allows customers to refer their friends to the platform. When those individuals deposit up to $100 in their account, the user receives $15.
Bitbuy insures its digital coins using 1:1 insurance with Knox Custody. Customers can use the price calculator on the platform to see how much a transaction could cost.
Getting Started
Opening a Bitbuy account requires you to enter your email and password. Maker and taker fees on the express trade Bitbuy platform (the regular platform) are 0.5%. If you use Bitbuy Pro, the maker fees reduce to 0.10%, while taker fees are 0.20%.
Deposits
Interac e-Transfer attracts a deposit/withdrawal fee of 1.50%, while bank wires attract a fee of 0.50%. Investors can make deposits into their Bitbuy account using Interac e-Transfers and bank wires. Bitbuy offers Over-The-Counter (OTC) for customers trading more than $50,000. Bitbuy is a registered Money Service Business.
The Changelly platform only accepts 3 fiat currencies: Euro (EUR), Pound (GBP), and United States (US) dollars. Opening a Changelly account only requires your email address. The minimum trade pairs on Changelly can go as high as $50 for some cryptocurrency pairs. Investors need to get their own wallet to use Changelly, as it’s a non-custodial platform. Changelly doesn’t demand any commission for deposits or withdrawals.
Fees
Transaction fees on the Changelly platform are calculated according to a floating rate or fixed rate. The customer gets to choose whichever one they want to use. Apart from the regular Changelly platform for newbies, Changelly Pro is available for advanced traders. Investors that use Changelly Pro are charged withdrawal/deposit fees and maker/taker fees.
There is a 0.50% trading fee on the Netcoins website. Netcoins communication channels are live chat, email, and telephone numbers. Investors can fund their accounts with credit cards, Interac e-Transfers, bill payments, and wire transfers.
Regulation
Netcoins is registered as a Money Service Business. So, it’s not regulated by the Investment Industry Regulatory Organisation of Canada. So, Netcoin customer accounts don’t qualify for CIPF insurance.
Getting Started
The Netcoins platform supports USD and CAD as fiat currencie and uses BitRank and QLUE, which are blockchain forensic tools, as safeguards. Opening a Netcoins account requires your full name, address, utility bill, driver’s license, and other forms of identification.
Traders can fund their accounts via crypto transfers, Interac e-Transfer, wire transfers, or direct bank deposits. Opening an account with Newton requires undergoing a Know-Your-Customer (KYC) procedure.
Fees
Although Newton charges no deposit or withdrawal fees, its spread fees cover this. The spreads range from 0.67% to 1.00%.
Support
New users can use the Newton crypto blog to learn more about the platform. Customers with any issues can contact Newton’s customer support through their ‘contact us’ form, live chat, or Newton status page. Customers who use the live chat or status page options can get instant replies. Individuals who use the form will have to wait 24 hours for a reply.
Coinberry offers new users automatic Bitcoin purchases as they sign up. Coinberry is insured by Lloyds and protected by the Gemini Trust Company LLC. A minimum deposit of $50 is required to open an account on Coinberry. The trading fees on this platform are high and can reach up to 22.50%.
Getting Started
Opening a Coinberry account takes the user through the instant verification process. Here, they must provide their names, birthdates, government-issued identification, and other personal information.
If the instant verification fails, manual verification will require government-issued documents. Canadians must connect their credit card with a Canadian bank account before they can use it to fund their Coinberry account. The Coinberry trading fee for cryptocurrencies is 0.5%
Investors who wish to buy cryptocurrency worth more than $200,000 can use the much faster Shakepay OTC (Over-The-Counter) trading desk. Customers can only buy cryptocurrencies through debit cards and wire transfers.
Getting Started
Registration on the Shakepay platform requires your email, password, username, and personal information like your name and address. Other verifications like a selfie or document verification might be required for some users. The spread fees for Bitcoin purchases can go up to 2.26%.
Coinbase is the regular platform for new users, while Coinbase Pro is for experienced traders. Coinbase Pro offers advanced trading options like crypto-to-crypto trading and advanced charting. Educational videos are available on the platform. The Coinbase customer support channels include email, telephone, and live chat.
Fees
The minimum trade on the Coinbase platform is $2. Investors can expect a transaction fee of up to 1.49% for bank account and USD wallet transfers. Debit/credit card transactions attract a fee of 3.99%. Wire transfers attract a fee of $25 for outgoing transfers, and incoming transfers attract a fee of $10.
Storage
Customer funds are stored in cold storage boxes that are scattered around the world. New users have to submit a government-issued identification when they open a Coinbase account.
Binance isn’t as well-regulated as other exchanges
Extra Details
Getting Started
Customers can fund their Binance accounts using debit/credit cards, wire transfers, and bank account transfers. Credit/debit card transactions are conducted within minutes, while wire transfers and bank account transfers can take days.
Account Types
New users are to choose between an unverified Binance account and a verified Binance account. The unverified account requires just your email and password, while the verified account requires selfies, government-issued identification, and other identifications.
Unverified accounts are restricted in the transactions that they can perform, while verified accounts get complete freedom. The Binance mobile app is available for Android and iPhone users. Maker/taker fees are never high and can reach 0.1%. Binance has its own wallet, the Binance Trust wallet.
The Kucoin platform has 3 classes of cryptocurrency, where class A cryptocurrencies are the most popular coins. Class B cryptocurrency is made of lesser-known coins, and class C cryptocurrencies are rare coins. Maker/Taker fees for class A, class B, and class C coins are 0.1%, 0.2%, and 0.3% respectively.
Security
Kucoin secures its cryptocurrency in cold storage using the Onchain Custodian company. Opening a Kucoin account requires your email address, password, and phone number. However, higher withdrawal limits and other advanced features are locked till the customer undergoes the Know-Your-Customer (KYC) process. The Kucoin platform offers multiple options for customer support and the Kucoin mobile app is available for Android and iPhone users.
Users can use the Nexo credit card to purchase everyday items. Investments in Nexo’s native token can help investors outside the United States to rise in the tier system. Traders who are on the higher tiers of the Nexo tier system can enjoy perks like low-interest rates on loans.
Fees and Withdrawals
The commission for European Union (EU) customers who purchase cryptocurrency with a credit card is 1.49%. Non-EU customers pay 3.49%. Users can withdraw free of charge on FiatX. After opening a Nexo account, users have to perform a 2-factor verification as well. Users can contact Nexo customer support via online messaging, email, or live chat.
Uphold rewards traders who stake their cryptocurrencies on the platform. The blog section of the Uphold platform offers educational content to users. Uphold offers cross-asset trading, where customers can trade between stocks, cryptocurrencies, and other commodities.
Perks and Fees
Investors get a 2% cashback when they use the Uphold Rewards debit card for a cryptocurrency purchase. Investors get a 1% cashback when they use the Uphold Rewards debit card for a fiat currency purchase. Uphold has a low minimum deposit of $10. The Uphold fee spread for larger cryptocurrencies ranges from 0.8% to 1.2%.
The instant buy fees on the Cex.io platform can go as high as 7%.
Deposit
Customers can deposit funds into their Cex.io accounts using debit/credit cards and domestic wire transfers. Most customer funds on the Cex.io platform are kept in cold storage, while a few are left in hot storage. Cex.io is registered as a Money Service Business in Canada.
Getting Started
New users can register on the Cex.io website using their email address, country of residence, and password. However, this will only unlock the basic features of the platform. You‘ll need to go through a Know-Your-Customer (KYC) procedure and provide advanced information to increase your deposit/withdrawal limits.
Coinmama doesn’t allow for crypto-to-crypto transactions. So, investors that want to purchase cryptocurrency will have to convert their digital coins to fiat. After which, they can use the fiat currency to purchase the new cryptocurrency.
Accounts
The minimum trade on the Coinmama platform is $30 for purchases and $100 for sales. The Coinmama platform has 3 tiers of users: curious, enthusiast, and believer. Individuals in the curious tier are those who have conducted transactions under $5,000 within 90 days. Enthusiast is for those that have conducted transactions over $5,000 within 90 days. Believers are individuals that have conducted transactions over $18,000 within 90 days.
Fees
Transaction fees for curious, enthusiast, and believer are 3.9%, 3.41%, and 2.93%. The Coinmama support channels include a chatbot and a contact form on their website.
The minimum deposit on this platform is 1 CAD. The leverage on the Eqonex platform is up to 1:125 for futures. Commission for spot trades ranges from 0.01 to 0.09%. The commission for future trades ranges from 0 to 0.07%.
Resources
Free education articles and videos are available on the Eqonex platform for new users. Free airdrops of the Eqonex native token are available daily. Automated trading bots are available on the Eqonex platform.
Accounts
New users can choose between opening a personal Eqonex account or an institutional Eqonex account. Opening a new Eqonex account requires submitting your email address and verifying it. After that, the user would have to submit personal information like their address and valid identification.
95% of Kraken user funds are held in cold storage locations worldwide. Opening a regular Kraken account takes minutes, while the Kraken Pro account can take days.
Fees
Purchases made with a credit card on the Kraken platform attract a charge of 3.75% and $0.25. Purchases made through a bank account attract a charge of 0.5%. Trading fees for stablecoins are 0.9%, while fees for altcoins are 1.5%.
Getting Started
Opening a Kraken account requires you to provide your email address, name, address, Social Security Number (SSN), and other personal information/ 24/7 customer service is available through telephone, email, and live chat.
High trading fees for people without Cronos tokens
Extra Details
Perks
The Crypto.com platform has 5 prepaid debit cards. Among these debit cards, the highest card is the obsidian card, which offers 5% cashback. Customers can earn up to 10% interest on the Crypto.com platform. You can increase your interest rates when you stake more than 4000 Cronos tokens and invest in stablecoins.
Support and Fees
Crypto.com offers 24/7 customer service via email or in-app chat. Users can fund their Crypto.com account through USDC deposits and debit/credit cards. No transaction fees are charged for deposits made through cryptocurrency. Non-Fungible Token (NFT) creators pay a commission of 1.99%, the same as individuals that are reselling their NFTs.
No commission on trades; only deposits & withdrawals
Mobile app has versions for different phones
High security for user data
Crypto and fiat currencies (CAD & USD) used for trading
No minimum deposits
No demo accounts or training guides for practice
VirgoCX offers no investment programs
Extra Details
The VirgoCX Leverage for trading is in a ratio of 1:1. The VirgoCX online platform offers two trading screens: quick trade (for amateurs) and advanced trade (for experts). Traders can use the VirgoCX Over-The-Counter (OCT) trade desk for large transactions over $30,000.
Deposit
The VirgoCX currency exchange is available for investors that want to quickly change their currency into another. Registration on the VirgoCX online platform requires a Know-Your-Customer (KYC) procedure, which can be completed in minutes. You can fund your VirgoCX account through wire transfers and Interac e-Transfers.
Withdrawal
VirgoCX has no withdrawal fees for non-ERC-20 coins. The funds in VirgoCX are secured with a Secure Sockets Layer (SSL), 2-factor authentication, and Ledger Vault Security.
WonderFi mobile app available for investors on-the-go
Doesn’t offer native token, just a tokenized stock
WonderFi isn’t available in some provinces in Canada
Extra Details
The WonderFi stock is available on Canada’s NEO exchange under the symbol $WNDR. WonderFi allows investors to trade gaming assets, Access non-Fungible Tokens, decentralized finance assets, and crypto assets. Users can only connect one browser extension and one mobile wallet to their WonderFi account.
Deposit and Withdrawal
Users can purchase cryptocurrency on the WonderFi platform using their credit card or through a bank transfer. Investors can earn interest when they buy and hold crypto tokens in the ‘earn’ section of the WonderFi app. Transactions done using Ethereum tokens require both the sender and the receiver to pay network fees. Senders pay network fees when they transfer any cryptocurrency apart from Ethereum. WonderFi has no minimum funding requirements.
With AQRU Investors can earn interest on their savings accounts. The minimum deposit for cryptocurrencies is $100. AQRU charges a 0.35% commission on all crypto transactions.
Account
The AQRU mobile app is available for iPhone and Android phone users. Opening an AQRU account requires you to provide your email, password, and government-issued identifications.
Investing
Investors can diversify their investment portfolio by using the features in AQRU 10. The interest rates on the AQRU platform are not tiered, so they stay the same regardless of the amount. Although AQRU offers a savings account, you’ll have to fund it manually for your funds to accrue interest.
Best Crypto App (September 2023)
The hype around owning and trading cryptocurrencies continues to see robust growth. As such, everyone is keen to determine which app is the best crypto app for trading. Multiple cryptocurrency brokers have rolled out mobile applications to allow for easy crypto transactions. And, with so many to choose from, selecting the best can be daunting.
Searching for the best crypto app? Here are our top 15 taking customer service, security, available cryptocurrencies, & more into account.
So, which is the best crypto app? Some of our favourites include Bitbuy, Coinsmart, Coinberry, Crypto.com, Coinbase, and Binance. But it’s best to select the app that meets your specific trading needs. Consider factors such as the app’s currency options, security, and level of customer service. It is essential to do your own research and compare multiple platforms before settling on one.
If you are looking for the best crypto app to start investing, you have come to the right place. This guide is meant to educate you on the top 15 crypto apps you can use here in Canada.
Moreover, we believe in the importance of careful selection and answering the common questions surrounding the topic. So, we have laid out the factors to consider and have answered some of the frequently asked questions.
The Best Crypto App: Our Top 15
The crypto world has seen the growth of many crypto exchanges, and you need to be vigilant in your selection. The following list highlights our top picks for the best crypto trading apps you can find.
Our criteria follow popularity, regulations compliance, crypto coins and tokens available, among other notable factors. Here are our top picks worth your attention in 2022.
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1. Bitbuy
Founded in 2016, Bitbuy is a reputable Canadian-based cryptocurrency trading platform in Toronto, Canada. It boasts over 400,000 Canadian traders and has become the best crypto app for 2022.
Bitbuy is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and approved by the Ontario Securities Commission. The platform’s mobile app is available for both Android and IOS customers.
You can buy the following coins on the platform:
Bitcoin
Ethereum
Dogecoin
Cardano
Solana
Bitcoin Cash
Chainlink
Litecoin
Stellar Lumens
EOS
AAVE
Polkadot
Polygon
SushiSwap
UniSwap
You can fund your account through bank transfer, crypto deposits, and Interac e-Transfer. Their trading fees are affordable, averaging 0.1-0.2%. INTERAC deposits and withdrawals stand at 1.5%, whereas bank wire deposit and withdrawal average at 0.5% and 1%, respectively.
The account is free to open, and you get a $40 bonus upon making an initial deposit of $250 or more. You can also enjoy a $40 bonus when referring a friend to the platform.
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2. Coinsmart
Started in 2018, Coinsmart is another on our best crypto app list based in Toronto, Canada. The platform offers excellent services for starters, such as responsive customer support.
You can invest in the following coins:
Bitcoin
Ethereum
Polkadot
Litecoin
Solana
Avalanche
Shiba Inu
Bitcoin Cash
EOS
NEO
Tether
Stellar
Cardano
Uniswap
Polygon
Chainlink
Coinsmart allows you to fund your account through credit/debit card, bank wire/draft, Interac e-transfer, and EFT. The trading fees amount to 0.2%, and Interac and bank deposits add up to 0%. However, a 1% fee is involved for bank and EFT withdrawals.
The platform is registered with FINTRAC giving you a security guarantee. Moreover, you can open a free trading account and get a $50 bonus upon making a $200 deposit.
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3. Coinberry
Coinberry launched in 2017 and registered with FINTRAC as a Money Service Business (MSB). It is also compliant with the Personal Information Protection and Electronic Documents Act (PIPEDA) for top security assurance.
Currently, you can access coins such as:
Bitcoin
Ethereum
Litecoin
Curve
Synthetix
Polkadot
Yearn Finance
Balancer
Bitcoin Cash
Dogecoin
Stellar
The platform has a unique feature, the Coinberry Autopilot. With this feature, you can buy crypto in real-time through dollar-cost averaging, which is an excellent investing strategy.
You can top up your account through wire transfers, Interac e-Transfer, and crypto deposits. The trading fee averages 2.5% or less, and deposits/withdrawals are free.
Upon signing up and completing a trade of $50, you get a $20 bonus. Their referral program awards you the same bonus after your referral completes the $50 trading. Plus, you can get up to $475 in trade credit.
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4. Newton
Newton is your best option if you are looking for a crypto platform storing your digital assets offline. Newton was launched in January 2018 and is registered with FINTRAC as a money service business.
Newton is a Toronto-based company and supports more than 60 crypto coins, including
Bitcoin
Ethereum
Cardano
Solana
Ripple
Polygon
Ox
Enjin Coin
Dash
Balancer
Ren
Tezos
Dai
Bitcoin Cash
USD Coin
Litecoin
MoneroTether
QCAD
Stellar Lumens
You can fund your account through pre-authorized debit and crypto deposits, Interac e-Transfer, and wire transfers. The platform’s trading fees amount to 0%. However, there is a price per spread fee amounting up to 0.70%.
A Newton trading account is easy to open and get verified. You also get a $25 bonus when completing a $100 buy transaction. There is also a referral bonus of $25 for every successful referral you onboard to the platform.
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5. VirgoCX
Another app on our best crypto app list is the VirgoCX. This platform operates out of Toronto, Canada, and was launched in 2018.
If you are looking to buy altcoins ahead of everybody else, this is your platform. It has over 50 coin types, including stable coins, Metaverse coins, and a Non-Fungible Tokens (NFT) marketplace.
You can buy crypto coins such as:
Bitcoin
Ethereum
USD Coin
Dogecoin
Uniswap
Bitcoin Cash
Litecoin
Chainlink
Stellar
You can rest assured of a smooth trading experience since there are no trading, deposit, or withdrawal fees. The platform also boasts a two-factor authentication and a 95% cold storage policy to ensure top security.
The account opening process is straightforward since it is free, and you get a $30 bonus upon a $100 deposit. You also get the same bonus amount for every friend you refer to the platform.
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6. Shakepay
This is one of the oldest in Canada and an essential contender on our best crypto app list. The company started its operations in 2015. It is based in Montreal, Canada, and has enabled over 900,000 Canadian traders’ transactions.
As of this writing, Shakepay offers two crypto coins:
Bitcoin
Ethereum
The platform’s account top-up options include wire transfers, Interac e-Transfer, and crypto deposits. Their trading fees are dependent on the price spread averaging 1-3%, and the deposit/withdrawal is free. Shakepay is registered with RevenuQuebec and FINTRAC as an MSB, and the digital assets are also stored offline.
Moreover, you get a $30 bonus after trading $100 on BTC or ETH. When you refer a friend, you both get the referral bonus after they meet the $100 trading mark.
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7. Netcoins
This platform opened its doors in 2014 and started as a Bitcoin trading service. It is a public company hosted by BIGG Digital Assets, its parent company.
In the initial stages, Netcoins offered three crypto coins to its users. However, with the progressive growth, users can now access
Bitcoin
Ethereum
Bitcoin Cash
Tether
Litecoin
XRP
EOS
ALGO
The account deposit options include bank wires, Interac e-Transfer, and online bill payment. Your withdrawals and deposits are free. However, a 0.5% trading fee applies alongside additional spreads.
As of this writing, their website states you can earn a $60 bonus after trading your first $100. Netcoins also has a referral program where you can get a bonus on every successful referral that meets the $100 trading mark.
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8. NDAX
Established in 2017, Ndax.io is a Calgary, Canada-based crypto trading platform. Ndax.io is an abbreviation of National Digital Assets Exchange Inc.
The platform currently supports various crypto coins, including:
Bitcoin
Ethereum
Litecoin
XRP
EOS
Stellar
Dogecoin
Cardano
Tether
Chainlink
Polkadot
USDT
LINK
Uniswap
Matic
Compound
The Graph
You can deposit funds into your ndax.io account through Bank draft, certified cheque, Interac e-transfer, and wire transfer. It will cost you 0.20% when buying and selling crypto through the platform. However, you will incur a $25 fee when withdrawing via EFT or bank transfer.
The platform is a money service business registered with FINTRAC. The company also has a strict cold storage policy of 95-98% alongside a two-factor login for all accounts.
Ndax.io has a straightforward joining process, and you can get verified in minutes. Upon signing up, you get a $10 bonus after making a $100 deposit. The platform awards you a 10% bonus for every successful referral every time they trade.
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9. Crypto.com
When looking for the best crypto app, no list is complete without Crypto.com, which boasts over 10 million users. The platform offers its users a wider variety of altcoins that are yet to be undiscovered by the masses.
This crypto exchange provides a wide range of coins, including:
Bitcoin
Ethereum
Litecoin
Bitcoin Cash
Tether
Binance coin
Solana
Polkadot
Polygon
Cardano
Crypto.com offers only one account top-up option, and that is wire transfers. Their trading fees average at 0.4% with free deposits.
The account is easy to open and gives you three months of free trading. The platform also allows its users to stake their coins, whereby you can earn daily interest.
Upon signing up, you are eligible for a US$50 worth of Crypto.com Coin (CRO) after staking $1000 CRO. With the platform’s referral program, you can earn up to $2000 in CRO for every successful referral who meets the laid terms.
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10. KuCoin
This Seychelles-based crypto exchange platform was launched in 2017. It currently boasts over 10 million users from 200+ countries.
Users can access over 600 crypto coins, including
Bitcoin
Shiba Inu
Dogecoin
Ethereum
XRP
Polkadot
KuCoin has a reputation for its low fees, which are 0.1% for spot-on trading. However, these trading fees are subject to reduction depending on your 30-day trading volume.
The platform’s users can top up their accounts through Apple Pay, Google Pay, or credit and debit card. Note that they do not accept bank transfers.
The account opening process is simple, and you can choose to trade without verifying your account. However, you need to undergo the Know Your Customer (KYC) verification process to access the advanced trading tools.
Buying and selling crypto is simple, reliable, and secure
24/7 customer support
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11. Gemini
Launched in 2014, Gemini makes it to our list for its beginner-friendly interface and learning resources. If you are new to the crypto world, this platform offers the best pool to learn the ropes.
Gemini has around 100 crypto-assets for its users, and you can get stable coins and altcoins. Some of the crypto coins available include
Bitcoin
Ethereum
Cardano
Uniswap
Dogecoin
Terra
USD Coin
Solana
Gemini Dollar
The platform is American-based and regulated by the New York Department of Financial Services (NYDFS). You can set up price alerts on the coins you invest in or follow within their mobile app.
Gemini’s trading fees vary with the kind of transaction and typically max out at 1.49%. The platform charges a 3.49% fee on credit card buys and a 0.5% for mobile users.
You can fund your Gemini crypto account through debit and credit card transfers and bank transfers. Upon opening an account with this crypto platform, you earn a $100 bonus when you spend $1000 or more within the first 30 days.
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12. Coinbase
Founded in 2012, Coinbase is one of the oldest and best crypto platforms you can use. The platform boasts over 68 million users, 134,000 partners globally, and 8000+ institutions.
Initially, the platform traded Bitcoin only but has added more crypto coins. Currently, you can access the following coins:
Bitcoin
Ethereum
USD Coin
Bitcoin Cash
Ethereum Classic
Uniswap
Litecoin
Stellar Lumens
Chainlink
Maker
Cosmos
Tether
Tezos
Alogrand
Finance
Cardano
Compound
Polygon
Internet Computer
Aave
Wrapped Bitcoin
You can fund your Coinbase account through a bank account transfer, a debit or credit card, or a crypto wallet. When buying crypto up to $200, you get charged $0.99 to $2.99, depending on the amount spent. However, with transactions above $200, the rates switch to a percentage basis.
Coinbase fees appear as per the following table:
Transaction Type
Fees
Coinbase USD wallet and bank account
1.49%
Credit card and Crypto transactions
2%
ACH transactions
0%
Immediate Card withdrawals
1.5%
Credit or debit cards
3.99%
Outgoing wire transfers
$10 or $25
There is also a spread fee amounting to 0.5% on the sales. However, this may change due to the market value fluctuations.
The platform has an excellent referral program whereby you can invite your friends to the app. Upon signing up and transacting over $100, you both get a $10 bonus. Alongside that, you can become a Coinbase affiliate and earn 50% of your referrals’ trading during their first three months.
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13. Binance
The platform makes its way into our list, for it is one of the major crypto trading platforms around the globe. Alongside the Android and IOS mobile applications, you can also install its software on your Mac, Windows, and Linux computers.
Binance offers its users access to over 350 crypto coins. Other services you can find on the platform include:
Peer to peer trading
Derivatives trading
Lending
You can fund the account through cryptocurrency, credit cards, bank transfers, or debit cards, among other options. The deposits and withdrawals to and from your account vary depending on the coin you have or need.
There is also a 0.1% trading fee for members within the lowest entry-level, which gradually lowers with time.
The platform has strict security measures whereby they store the digital assets in cold storage. Other features Binance offers its customers include
A lock-savings account with an approximate annual return of 0.5% to 3.29%.
Flexible savings with an annual interest rate of 15% to 45%.
Upon opening a Binance account, you get a local e-wallet within the platform to manage your coins. However, note that Binance is not available to Ontario residents.
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14. Coinmama
Launched back in 2013, Coinmama makes our list of the best crypto exchange platforms for its enhanced security. It has 2-factor login encryption and does not store its customers’ details. This comes after its involvement in the 2019 large-scale hack that exposed users’ credentials.
While most crypto exchanges have a broader variety of coins offered, this platform has nine:
Bitcoin
Tezos
Bitcoin Cash
Litecoin
Dogecoin
Ripple
Ethereum Classic
Cardano
Ethereum
The platform’s trading fees are spread over three tiers:
Tier
Requirement (90 days)
Fees (%)
Curious
Up to $5,000
3.9
Enthusiast
Over $5,000
3.41
Believer
Over $18,000
2.93
Coinmama supports funding your account through bank transfers, Apple Pay, Google Pay, and credit or debit cards. Note that the platform has its inventory when you need to buy or sell your crypto.
This means you are not transacting with other users but with the platform itself. And since the transactions are on blockchain, you have to ensure to give the correct crypto destination address. Another con with the platform is that it only has an Android app limiting IOS users.
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15. CEX.io
This London-based cryptocurrency platform boasts over four million users around the globe. Started in 2013, CEX.io was initially designed to help users mine bitcoin rewards without the much power needed.
The current digital assets available on the platform include
Ethereum
Bitcoin Cash
Cardano
Uniswap
Zilliqa
Litecoin
Tether
Bitcoin
Tezos
Tron
Cosmos
Canadians can fund their CEX.io account through debit or credit cards like Visa and Mastercard alongside bank transfers. Trading fees vary, but if you stick to the spot trading, you can enjoy highs of 0.25%. However, charges go up to 7% in the instant buy option.
The platform is registered with FINTRAC as a money service business, so you can be sure of their compliance. CEX.io also stores its digital assets in offline holdings and has strict data encryption measures.
This crypto trading platform has a referral program that can earn you returns. Moreover, the affiliate cookies last for 30 days, so you can rest assured of getting paid for your efforts.
Factors to Consider in a Trading Platform
Many exchange platforms exist alongside these notable crypto exchanges. When selecting the suitable platform, you want to choose the best crypto app.
So how do you filter through the options? Simple, by looking at what each has to offer. Here are the qualities you should look out for in your selection.
Mobile App Presence
While the crypto world has seen robust changes recently, few exchanges have adopted the trends. However, mobile apps give you the convenience of buying and managing your crypto on the go.
Also, note that the app needs to have a simple user interface to allow for quick navigation through the hurdles easily. The app should also be flexible to allow for real-time alert customization.
Asset Variety/Options
There are thousands of cryptocurrencies in existence, and exchanges hold different numbers. While some offer hundreds of crypto and related assets, others offer less than ten.
In selecting the best crypto app to use, you want to ensure your preferred platform has the assets you want to invest in. Most platforms offer stable coins, but you have to check out the smaller exchanges if looking for altcoins.
Enhanced Security
There are no strict regulations governing the cryptocurrency world. For this reason, cybercrime threats are rampant and are eyeing vulnerable crypto exchanges. Also, note that stolen crypto assets are hard to track; hence, you might lose your investments during such an invasion.
In selecting your preferred trading platform, you want to ensure they have the necessary measures to minimize losses and risks. The best apps have two-factor authentication, cold storage facilities, and excellent encryption.
Trading Fees
Most crypto exchanges earn their profit through the trading you make within the platform. Whether making a significant or low transaction, you need to know how much the platform charges.
The last thing you would want is to pay the platform the profits you get. Some platforms also reduce the fees when you reach certain tiers or spend a specific period on the platform. The goal is to select the platform with the lowest costs to increase your returns.
Ease of Use
Every crypto expert was once a beginner in the trade, and as a newbie, you may not have the knowledge needed. So, selecting a crypto app that is easy to use and manage is vital. Fortunately, crypto apps like Binance, Coinbase, and Gemini are beginner-friendly.
The ease of usage also extends to how you can quickly navigate through the app to do a specific action. Ideally, you want a well-structured app you can quickly understand and begin trading.
Responsive Customer Service
Excellent customer service is a bonus to you when dealing. When selecting a crypto trading platform, you want an exchange that replies quickly to your issues.
Since your money is involved, any delay in customer support could mean losses. It is an excellent decision to check the crypto exchange’s responsiveness.
Similarly, you may have specific questions needing immediate answers as a new investor. In such a case, you want a customer service assistant attending to you in real-time. However, some trading platforms have a chatbot, so be on the lookout.
Customer Reviews/Reputation
Before engaging with a crypto exchange, you must check what other customers say about it. If people have a negative attribute towards the best crypto app, they will avoid it. The opposite will happen when you hear of one that everyone prioritizes.
Your research will yield different reputation levels with the many crypto apps in the market. Luckily, Google Play and Apple AppStore allow users to leave reviews about the specific app. Here you can get unbiased customer feedback.
Deposit and Withdrawal Terms/Limits
While some exchanges have no limits on the amount you can deposit, they regulate withdrawals. When selecting the best crypto app for you, you want one that allows the maximum withdrawal amount possible.
Also, note withdrawal durations vary with the payment method you prefer. Notable crypto apps usually tell you how much crypto you can withdraw within a specified timeframe. This knowledge will help avoid disappointments and frustrations in the long run.
Law Compliance
The last thing you want is to hear that the best crypto app you have invested in has vanished. While there are rampant scam cases, you can avoid falling into their trap by checking their law compliance.
The best crypto app is regulated and registered with the relevant authorities like PIPEDA, FINTRAC, OSC, and NYFDS as MSBs.
Your Jurisdiction
Some crypto exchanges are international and may lack the permit to serve your area. While some are operating within the country, they may not be the best crypto app serving your particular province.
So, it is vital to investigate the platform’s reach to avoid getting into trouble or even losing assets. For example, Binance does not serve Ontarians.
Sign Up For Newton
Get started and claim your $25 bonus.3 minutes
Download app
Download the Newton app from their website.
Create an account
Input your personal details to create an account.
Verify your account
You may be asked to submit your ID to verify your identity.
Fund your account
You can fund your account with e-transfer or wire transfer.
Start trading
Once your funds arrive, you can start trading and get your $25 bonus.
Best Crypto App Conclusion
Crypto trading apps come in various options and choosing the best crypto app could determine your trading success or failure. However, as an investor, you are after a crypto exchange that can earn you profits.
Technology has made it easier to buy and trade cryptocurrencies since you can do so with a mobile application. Fortunately, most crypto trade exchanges have rolled out the best crypto app to help complete trades on the go.
The list above shows you the top platforms to choose from when selecting the best crypto app. Whether you are a newbie or an expert, this guide will be helpful since it highlights what different crypto apps/platforms offer. Thanks for checking out the best crypto app!
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The Ontario Securities Commission suspended permits for several crypto platforms that were not compliant with its regulations. Unfortunately, Binance was among the platforms denied access, making it suspend its operations in Ontario.
Can I buy Ripple (XRP) in Canada?
Yes, you can buy any XRP amount you need by signing up to one of the asset's notable crypto apps. The account opening and verification processes are typically straightforward, and you can buy the asset within no time.
Why is Ripple getting delisted in most Canadian exchanges?
Recently, Ripple has been slapped with a US Securities and Exchange Commission (SEC) lawsuit. This has resulted in uncertainty around the cryptocurrency, causing it to plunge and be delisted on notable platforms like Bitbuy, Newton, and Coinsmart.
How do I safely store my crypto coins?
You can safely stash your crypto coins away in offline storage facilities inaccessible through the internet. Most crypto exchange programs have a strict cold storage policy/offline storage to avoid asset loss through theft, computer failure, or access key loss.
How long should I hold on to my crypto coins?
The ideal time to hold on to your coin depends on the market and your investing preference. This could mean six months to a year or even a decade. The hope is that your coins will appreciate and make a good profit return. For example, Bitcoin shot to a high of $60,000 recently. However, it should be noted that the value may fluctuate, resulting in a loss.
Can I get rich through crypto trading?
Yes and no. While trading in crypto coins can make you a fortune, know that you can also lose your investment. Cryptocurrencies are volatile, and it all boils down to choosing the right coin and making a timely investment which can be a challenge.
How do I start investing in crypto?
You need to register with a notable crypto platform and verify your details. The next step is to fund your account and select the currency you want to invest in.
How do I fund my new crypto trading account?
Different crypto exchange platforms have unique deposit methods accepted. However, the most common deposit methods include credit and debit transfers, bank wires, Interac e-Transfer, and direct crypto deposits.
Can I get free Bitcoin in Canada?
Yes, however, not directly. Most crypto exchange programs have a bonus feature giving you a specific amount in bonus after meeting their trade terms. You can also earn free bonuses by joining the affiliate programs and onboarding your friends into the platform.
Which cryptocurrency can I use in the real world?
Bitcoin continues to set the pace for many other coins. It is no shock to find prominent retailers, individuals, and businesses accepting bitcoin payments. For example, companies such as Microsoft and AT&T accept bitcoin.
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