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There are numerous platforms for trading cryptocurrencies. Each one has distinct advantages and risks. The crypto platform that best satisfies your demands and objectives is the best option.
Here is a list of the top fifteen cryptocurrency trading platforms in Canada to aid you in navigating the market if you are a beginner.
Numerous trading websites and apps are accessible in Canada. Finding a platform that works for novices might sometimes be challenging. Finding a solution that will work for you can be challenging given the abundance of possibilities available. Here is a list of the top cryptocurrency trading and buying sites in Canada to assist you.
Checking the market cap in the crypto space, it is observed that Ethereum is the second-largest cryptocurrency with about $223 billion in value. This indicates that a growing number of investors are swarming the cryptocurrency market to fill their portfolios with more ether.
It is acknowledged that no one site can be considered the best Ethereum app in Canada. Every platform has a different collection of features and functionalities to meet the needs of different user groups.
Despite being particular to Canada, a few platforms for the Canadian market continue to concentrate on serving Canadians as their customers. These well-known platforms provide certain Canada-specific features that improve user filtering.
One of Canada’s top cryptocurrency exchanges for beginners with reasonable trading costs is Newton. It offers a variety of altcoins, many of which we anticipate to take off in 2022, along with well-known digital currencies like Bitcoin, Ethereum, and Polkadot.
In reality, they regularly update their platform and add new currency. Beginner cryptocurrency investors will like Newton’s sleek and user-friendly interface. Users of its Ethereum trading platform can benefit from free deposits and withdrawals and it is simple to use.
Newton claims to be a fee-free cryptocurrency exchange, yet its spreads are greater than those of other exchanges. However, it is still a respectable cryptocurrency platform with reasonable costs. If you choose to utilize Newton, be sure to read our assessment of the Newton crypto exchange.
Newton is listed with FINTRAC as a Money Service Business and most cryptocurrency is kept offline.
Nevertheless, Newton is one of the top cryptocurrency trading platforms in Canada and is appropriate for new users who want to purchase Ethereum and other well-known cryptocurrencies. Additionally, it provides instant verification, which is excellent if you need to buy your first cryptocurrency quickly.
A Canadian crypto trading platform called Bitbuy was established in 2016. The Financial Transactions and Reports Analysis Centre of Canada oversees its regulation (FINTRAC). The Bitbuy platform provides a dependable, practical, and safe way to purchase different cryptocurrencies including Ethereum.
Only Canada can access Bitbuy. Only Canadian dollars (CAD) and deposits from regional banks and financial institutions are accepted for trading on Bitbuy.
Payments made using US dollars, euros, or British pounds are not accepted on the platform. Bank transfers and the nearly instantaneous Interac e-transfers are two deposit possibilities.
In accordance with Canadian regulations, Bitbuy’s cold-stored assets were entrusted to BitGo Trust Company. The latter is a business that specializes in digital asset storage. Customers can use Bitbuy with confidence knowing that all assets stored by BitGo are fully insured.
If Canadians are looking for a dependable, trustworthy Ethereum app, CoinSmart is a fantastic second choice.
CoinSmart charges minimal trading commissions of about 0.2%, similar to Bitbuy. User credentials are quickly verified, and great customer service is provided to attend to the customer at any time
There are various withdrawal options as well. Bank transfers and internet payment transfers are two options. The processing time is 1 to 5 days, and the transaction charge is 1%. Additionally, Ethereum withdrawals are possible.
Because it has been approved as a Registered Marketplace by the Ontario Securities Commission (OSC), CoinSmart is a very secure exchange. OSC is a TRUST anti-money laundering member and holds a FINTRAC license for a money services business.
They adhere to a 95% cold storage policy as a publicly traded company, and their financials are reviewed by an outside organization for at least a year.
Wealthsimple may be the best app for you if you want to build an investment portfolio that includes both cryptocurrencies and conventional stocks. Over 2 million Canadians use this well-liked software, many of whom are casual investors looking for simple access to the financial markets.
On the Wealthsimple app, you may purchase dozens of cryptocurrencies, all of which have a $1 minimum investment requirement.
Those of you who want to purchase Bitcoin and other crypto assets with a small sum of money may find this useful. Until you’re ready to cash out or move the money to a private wallet, you can store your Ethereum at Wealthsimple.
Regarding security, Wealthsimple is accredited by Gemini Trust and is covered by Canadian regulatory oversight.
Additionally, for added security, you can shield your account with two-factor authentication. Another strength of Wealthsimple is its helpful and quick customer support staff. Finally, iOS and Android smartphones can both run the Wealthsimple software.
NDAX. IO is a Canadian cryptocurrency exchange that is situated in Alberta. More than 13 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, can be bought and sold by Canadians.
It is known that the accessibility of a platform, especially a crypto app, matters most. Novices who are using it for the first time must be able to access it conveniently. The NDAX.IO platform is therefore perfect for beginners because of its straightforward user interface.
Along with these features, the platform provides several others that make it simple to maintain and manage a portfolio of cryptocurrencies including Ethereum. These include rapid deposits and withdrawals in Canadian dollars, cheap trading costs, a mobile app, an ATM, and a variety of additional tools.
NDAX is among the country’s safest cryptocurrency exchanges. The platform has teamed up with Ledger Vault, a famous organization in digital asset security, to provide the best level of safety possible. Customers’ assets are also kept in cold storage facilities.
Unlike other websites that provide the same services, NDAX has never been hacked or otherwise compromised since its start.
Netcoins, a 2014-founded Canadian trading platform, lets consumers buy cryptocurrency with either CAD or USD. In the beginning, Netcoins offered both private trading services for larger, institutional clients and a Bitcoin Automated Teller Machine (ATM).
Since then, it has developed into a user-friendly internet trading platform that is accessible to practically everyone. Initially only supporting 3 cryptocurrencies, the Netcoins platform now supports 10 of the most well-known ones.
You must register for a Netcoins account and fund it with either CAD or USD to access the service. You have the choice of depositing via e-Transfer, wire transfer, or online bill payment from your bank account.
Only an eTransfer back to your account is available for money withdrawals off the platform. Every withdrawal and deposit is free.
Each cryptocurrency has a different fee structure for withdrawing funds to a personal wallet. The cost to trade cryptocurrencies is a flat 0.5% for each transaction. Some coins can be purchased with a credit card, however, there are additional costs and buying requirements.
With limit orders and one-click trades, this platform is excellent for novices. It does not, however, provide more sophisticated trading features, such as advanced limit orders or charting tools. A Visa Prepaid Card is also available through Netcoins.
You can use it to make purchases using CAD from your Netcoins account, even when you convert your cryptocurrency holdings into CAD. You may get 3% Ethereum cash back on every transaction with a card, which is free to use and accepted anywhere Visa is accepted.
Most Canadians are familiar with Coinbase through its consumer product, which enables customers to purchase and sell cryptocurrencies through a brokerage platform. Through Coinbase, customers can buy, sell, and convert Ethereum.
Starting with Coinbase is simple, quick, and secure, and the platform is built to keep your sensitive information confidential. You’ll need a picture ID to establish your identity to safeguard yourself against fraud or identity theft. Additionally, industry-leading security and insurance are used to safeguard Ethereum and other crypto assets.
Even though Coinbase supports immediate deposits, debit cards are still the sole way to fund an Ethereum purchase using this cryptocurrency exchange site in Canada. Additionally, Coinbase does not accept payments made through bank accounts.
In the case of buying, your Ethereum order will be delivered immediately and for 3.99% per debit card purchase; however, in addition to this, there is an extra 0.50% fee for any buy or sell transactions made through Coinbase.
When choosing the best Ethereum app in Canada for your trading requirements and ability level, consider the aspects outlined below. By doing this, you can be sure that the Ethereum application you choose is appropriate for you.
If you’re not careful, fees will cut into your profits. Before you start the registration process, check to see if there are any fees you will be paying for deposits and withdrawals. Examine trading commissions next, along with how they are assessed.
Depending on the magnitude of the trade, some exchanges impose flat fees; others impose percentage fees. There are some who falsely claim to offer free trading.
Platforms for trading cryptocurrency that are extremely challenging to use should be avoided by new traders. Even while these exchanges provide you more freedom, if you’re unfamiliar with cryptocurrencies, that could be daunting.
Verify the exchange’s availability of funding options to see if they meet your needs. The simplest and the best approach is to combine cryptocurrency deposits with Interac e-transfers and bank transfers. Check if there are any fees associated with each choice as well because they will also reduce your income.
Verify their operating license status and the sorts of asset protection they offer. While none of the crypto exchanges in Canada presently offer CIPF (Canadian Investor Protection Fund) security, check to see if they are accredited and have the necessary insurance.
To ensure the highest level of protection, you should have full access to transfer your coins from the exchange into a trusted and reputable crypto wallet.
Check how the exchange safeguards user data and your cryptocurrency to minimize danger. Regulated exchanges must obtain specific information from you to open an account.
For you to fund your account and make withdrawals, they also require some financial information. Look for interactions with users that are straightforward and forthright regarding how their data is handled, preserved, and protected.
Verify the exchange’s security procedures for assets under their care if you intend to keep your coins on the platform.
Experienced cryptocurrency traders may need a variety of features, including charting tools, different order types, a live order book, an OTC desk, and others. You won’t typically find these to be noteworthy if you’re a newbie to trading cryptocurrencies.
In the case of a failed transaction or any other challenges faced when using the app, you should always make your findings about the response rate of their customer service. Each app offers its customer service, some of which might not be available 24/7.
You should always make use of the Ethereum app, whose customer agents work around the clock and respond to questions quickly.
The more cryptocurrencies your exchange supports, the better as there are currently over 10,000 of them.
You may distinguish between reliable exchanges and less reliable ones using customer feedback. They’ll also find benefits and cons that aren’t immediately apparent from the website.
If a platform has several positive reviews from past customers, you may have a satisfying experience using it. Reviews also show which platforms other Ethereum traders trust and which ones they don’t.
Make your money do more.
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.
Bitbuy is the greatest alternative available for Canadians in the market in terms of pricing, safety, and user-friendliness overall. Since Bitbuy has received approval from the Ontario Securities Commission, it is also regarded as the best app for purchasing Ethereum in Canada.
In Canada, there are a few distinct Ethereum apps that are well-liked, and each one has a different pricing model. While some have greater fees for certain trades, others offer cheaper fees overall. Because Newton is marketed as a "no-fee exchange," you would assume that they have the lowest trading fees in Canada. In actuality, you pay enormous spreads when you trade cryptocurrencies. Coinsmart is the cryptocurrency trading app in Canada with the lowest trading fees, with only %0.2 trading fees and free deposits above $2000.
The regulations on cryptocurrencies have been standardized across provinces in Canada. The reason for this is that, although securities like cryptocurrencies are supervised by provincial law, commodities like Bitcoin and Ethereum are recognized as legal at the federal level. Ethereum and cryptocurrency are thus available in every province.
Either through an exchange, a trading platform, or even an ATM, you can buy Ethereum in Canada in a similar way that you can buy bitcoin because the processes are so similar.
Canada's most secure Ethereum app is Bitbuy, a money service business that is FINTRAC-registered. They allow you to move your currencies on or off the exchange at any moment, retain them offline in a cold storage wallet, and use bank-level security standards. Additionally, they are renowned for being a reliable, trustworthy cryptocurrency exchange and have some of the lowest fees and spreads of any exchange in Canada.
See the top crypto deals and welcome bonuses on the market.
