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The best crypto trading platform offers a wide variety of cryptocurrencies and altcoins, as well as the ability to trade them all in one place.
The best cryptocurrency exchange should also offer multiple payment methods for its users. This includes credit cards, debit cards, wire transfers, etc. Making your payments using whichever method suits you best is important for the best trading experience.
However, finding the best platform to trade is not always easy. Most crypto trading websites in Canada offer different features and benefits, making it difficult to find the right one.
In this article, we will be reviewing some of the top Canadian crypto exchanges so that you can determine which one is the best fit for your needs.
As we’ve said earlier, choosing the best crypto trading platforms for Canadians involves a lot of research. These are some factors to consider when choosing a suitable trading platform.
Although many trading platforms allow customers to open accounts for free, they do charge trading fees for their services. This means they could charge a certain percentage for transferring funds or require a flat fee.
Some sites stipulate minimum deposit fees and maximum withdrawal fees. Before choosing a crypto trading platform, you must consider all these fees since they can affect our experience.
Minimum deposit fees too high or maximum withdrawal fees too low create a bad trading experience. If their transaction fees are too high, it’ll affect the profits customers would make on the site.
Sometimes these fees might seem insignificant. However, their long-term effects could be disastrous for a trader. As such, it’s best to get them all in view and ensure you’re okay with them. A good platform should only demand moderate fees that wouldn’t hamper a customer’s ability to make a profit.
Good customer support is among the most important factors when choosing a crypto trading platform. A responsive customer representative would save traders a lot of waiting time and enable them to return to trading.
It’s even better if they are available 24/7, enabling users to contact them anytime. There are lots of customer support channels such as email, live chat, social media messaging, and telephone.
The best crypto trading platform for you should support all or most of these outlets. This would give their users the option of contacting them with the channel that they’re most familiar with.
Cryptocurrency is one of the hottest things, and hackers have yet to decide against exploiting it. So a good crypto trading platform should have measures in place against hack attempts. This ranges from the usual 2-factor authentication to a Secure Sockets Layer (SSL).
Some sites put their customer’s funds in cold storage; with it being offline, hackers would be unable to get to it. Others also have plans to reimburse the customers for their losses in the case of a successful hack attempt. All these security measures make a cryptocurrency trading website more reliable.
The best crypto trading platform would support a sizeable number of cryptocurrencies. This is necessary to cater to every trader using their platform.
Bitcoin, Ethereum, and Solana are some of the popular digital coins. As such, they are available on many Canadian crypto trading sites. However, not all traders are interested in these coins, as some individuals would love to trade in other altcoins.
Some traders may have no interest in hoarding these popular cryptocurrencies, waiting for their values to rise. Their interest may lie in the day-to-day trades where these altcoins are the best options for a quick turnover.
There can also be situations where a trader intends to conduct a transaction in a particular digital currency. If that site doesn’t support that cryptocurrency, the trader would need to convert it into the one they support. Transaction fees would apply here, reducing the resultant gain from the transaction.
As such, a good crypto trading platform would support a wide variety of digital coins. It would contain various popular coins, altcoins, and even stablecoins.
Another quality of the best crypto trading platform is the availability of a mobile app. This ensures traders can use the platform conveniently when they want to trade.
Trading on the go is an advantage that only a cryptocurrency trading app can provide. Not everyone can be stuck trading behind a computer all day, and not everyone fancies carrying a laptop around. Some people would rather use their handy mobile phones to authenticate their transactions and conduct their trades.
Hence, a good crypto trading site would provide a reliable mobile app in addition to their browser-based service. Although mobile apps get provided by many crypto exchanges, not all of them are properly optimized. Some of them are such poor ports of the desktop apps that mobile users would be missing many desktop features.
So, a good crypto trading platform offers a mobile app that functions just as well as their desktop app. Even when some functionalities are absent, it would just be a few.
The best crypto trading platform usually has the best online reputation. It doesn’t matter if you visit Facebook, Twitter, or Reddit; users only have good things to say about their experience.
While negative reviews are unavoidable, most of the platform’s reviews would only say good things. If a crypto exchange platform has overwhelmingly good reviews or a stellar reputation, they’re doing a good job. Hence, their users (who have probably tried other sites) would only have good things to say in comparison.
Leaving your funds with a crypto trading platform requires a level of trust only a license can bring. Unlike other Canadian investment platforms, a cryptocurrency trading website can’t boast of a Canadian Investor Protection Fund (CIPF). However, that doesn’t that there are no Canadian bodies that oversee their transactions.
Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) regulates the crypto platforms registered as money service businesses. Others operate under the Canadian Securities Administrators (CSA). These regulatory bodies offer licenses that make the cryptocurrency sites more genuine and legitimate.
It would be terrible to visit a crypto trading site only to become confused with its design. Many people already see cryptocurrency as intimidating, and such a site would only feed their fears. A good site should be simplistic and elegant in design, making it easy for people to use.
Even though seasoned traders expect advanced charts and interfaces, newbies should still find the site easy to navigate. Such sites would also offer simple features and interfaces that enable new traders to settle more easily into the crypto space.
While a cryptocurrency trading platform needs to accommodate new traders, it should also be suitable for old hands. This means that features such as a live order book, advanced charting options, and other advanced features should be available. Hence, a good crypto site should offer tools that all seasoned traders would require.
When considering the best crypto trading platform, thing about credit cards, debit cards, Interac e-Transfer, and bank transfers. These are some of the most popular online payment methods. Unfortunately, not all crypto trading sites offer all these options. Many are apprehensive about e-transfers and would only allow for bank transfers or credit card and debit card transfers.
A good cryptocurrency trading site should offer a wide variety of deposit and withdrawal options. This would give their customers many options, allowing them to use their most comfortable method.
If you’re looking for the best crypto trading platform that Canada has to offer, this list contains most of them:
Many Canadians acknowledge Bitbuy as one of the safest crypto trading platforms out there. That’s because this platform is registered with FINTRAC as a Money Service Business (MSB). They also regularly perform financial audits on their services to ensure they’re not in the red.
There’s also news from the Reserves Audit, which states that Bitbuy exceeded its cold storage demands by 98.12%.
Bitbuy is a trustworthy site among Canadian traders and the best crypto trading platform for beginners. They keep 95% of their funds in cold storage, which provides satisfactory contingency measures in case of a hack. This platform performs regular financial audits on itself. Hence, trader funds are less likely to get lost in any financial crash.
Coinsmart is a Toronto-based crypto exchange that’s decided to make cryptocurrency easily accessible to Canadians. Many traders can confirm that they kept true to this mission since accessing their services is easy. This site supports the needs of all crypto traders, from rookie traders to seasoned ones.
Coinsmart is the best crypto trading platform for same-day verification. This means traders can register on the site and get their accounts approved on the same day. Alongside its easy-to-use interface, this platform offers numerous customer support channels.
Newton is another crypto trading website that boasts a newbie-friendly interface, making it suitable for new traders. Besides popular digital coins like Ethereum and Bitcoin, this site also offers the less popular altcoins like Avalanche and Polkadot. The number of these altcoins grows as they add more each month.
Newton is another site that offers same-day verification for its traders. This allows new traders to register, verify their accounts, and begin trading on the same day.
Newton is the best crypto trading platform for transacting with altcoins. They support over 70 coins, with a wide variety being altcoins.
Ignoring their high spread fees, Newton doesn’t charge for any deposits, withdrawals, or other transactions on the site. The Newton platform design makes it easy for newbie traders to navigate the site.
They also provide same-day verification for new traders, allowing them to skip the one-week waiting period that other sites use. Newton also offers noteworthy security features such as daily backups and direct bank integrations.
Crypto.com is one of the world’s most popular crypto exchanges and one of Canada’s best exchanges. They offer more than 100 coins making them one of the best choices for traders looking to invest in new altcoins. Trades on this platform are faster than most crypto platforms, giving traders a much-needed edge.
Crypto.com is the best crypto trading platform for exploring the newest altcoin available. As such, they are the best option for traders who want to invest in new and upcoming altcoins. With their fast trading speed, their users enjoy an edge over other traders on most crypto sites.
Coinberry is another crypto trading platform that Canadians would enjoy trading with. Established in 2017, this platform offers A-grade trading services and features, making them popular among Canadian traders.
Although they don’t offer instant verification for all new customers, most get their accounts instantly verified. This is an advantage compared to many cryptocurrency exchanges out there.
Coinberry is one of the most committed crypto trading platforms that cater to Canadians. This is shown by their partnership with the Canadian town of Innisfil. Using Coinberry, residents of this town can pay their property taxes in Bitcoin.
Coinberry offers instant verifications to a considerable number of new traders. Besides their high spread fee, traders can enjoy a 0% fee on deposits and withdrawals using the CAD. This site is also easy to use and suitable for advanced and newbie traders.
Coinberry is PIPEDA compliant and also registered with FINTRAC, making them a trustworthy site to trade with. Their assets are insured by the Gemini Trust Company LLC and Lloyd’s of London. This gives traders peace of mind to leave their crypto assets with this company.
Based in Montreal, Shakepay is arguably the best crypto trading platform for newbie traders. That’s because the platform’s interface is easy to use and understand for even beginners. They also offer instant verifications for new traders, allowing them to start trading immediately.
However, most of their similarities with similar trading platforms end there, as Shakepay only offers Bitcoin and Ethereum. Besides allowing their customers to trade in these two coins, they also provide them with the opportunity to earn more. This happens when customers can invite their friends into the platform using their private referral codes.
As soon as the invited individual signs up, they would be able to earn certain Bitcoin or Ethereum coin amounts every day. To do this, they would have to shake their phones daily, hence the name ‘Shakepay.’ They can also increase these daily earnings by inviting more people into the platform.
The Shakepay mobile app got inspired by successful mobile apps from the Andriod and iOS app stores. However, it became the successful app that it is today due to its timely response to customer feedback.
Shakepay is the best crypto trading platform for novice traders with its simple platform design. Instant verification is possible with this platform, allowing new traders to get started immediately. Using this site provides an additional channel to increase a trader’s crypto assets-the use of referrals.
Many Canadians acknowledge this site because of its responsive customer support. So, users of this platform always receive speedy answers to all their queries.
NDAX.io is another crypto trading platform that’s known for its beginner-friendly interface. The NDAX.io trading fees are on the low side compared to other crypto exchanges. This platform also supports many digital currencies like Bitcoin, Cardano, Polygon, Stellar Lumens, and Uniswap.
NDAX.io is a beginner-friendly platform. Newbies would enjoy using the site. They offer free CAD deposits, with no cap on how much users can deposit at a time. There’s a wide variety of altcoins offered on this platform, making it suitable for many traders.
Based in Vancouver, Netcoins is a crypto platform offering interesting history and site features. This crypto company got founded by Mitchell Demeter (the creator of the Bitcoin ATM) in 2013. As such, the company started as a crypto ATM company; however, they’ve evolved into a crypto exchange.
The Netcoins crypto exchange now exists under the ownership of Bigg Digital Assets. This crypto trading platform offers a variety of benefits, one of which is the cash back on their crypto Visa card. Their customers enjoy a 3% Bitcoin cashback for the first three months and a 1% cash back after that.
Netcoins enforces a 2-factor authentication system which makes their accounts more secure.
Netcoins is a fully regulated Canadian crypto trading platform registered with FINTRAC and owned by Bigg Digital Assets. This makes the company more real and believable, making users unlikely to get conned. They also offer free deposits, withdrawals, and sufficient customer support channels.
Time to wrap up the best crypto trading platform. Choosing the best crypto trading platform is one of the foremost requirements for a pleasurable trading experience. However, many crypto trading sites are out there, and choosing the best among them is no easy feat. Hence, this guide was designed to make the process easier and provide Canadian traders with suitable options to choose from. Thanks for checking out the best crypto trading platform!
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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.
You can try Shakepay, Netcoins, or Crypto.com if looking for the best crypto trading platform. Every crypto exchange listed here are also good options to consider. However, it boils down to which website offers the features and convenience you need.
Coinsmart and Bitbuy offer the lowest trading fees. Bitbuy charges a 0.5% fee for deposits and a 1% fee for withdrawals. They also charge a 1.5% fee for Interac e-transfer transactions. Coinsmart, on the other hand, charges a 0.2% fee for single trades and 0.4% for double trades.
Yes, it’s legal to trade cryptocurrency in Canada. You only need to ensure that you pay all required taxes on your earnings.
Yes, most of the platforms discussed above offer bonuses for new traders. However, the bonuses depend on the platform itself and could change over time.
Bitcoin is the oldest and the most popular cryptocurrency to trade in, with Ethereum being a close second. You can explore your options on any of these crypto exchanges on this list.
See the top crypto deals and welcome bonuses on the market.
