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One of the most widely used cryptocurrencies in the world; Ethereum is a serious challenger to Bitcoin’s dominance. By adding speedier transactions, smart contracts, and native apps to what Bitcoin already has to offer, Ethereum enhances it.
Ethereum might sound like just another cryptocurrency, but it’s a supercomputer that is run by everyone around the world. Despite sounding like science fiction, it is factual. Ethereum runs on millions of computers worldwide, much like the network that supports Bitcoin.
The ability to execute smart contracts on its blockchain was this decentralized cryptocurrency network’s key breakthrough. However, a lot of individuals are still using Ethereum as their primary cryptocurrency. It is still one of the most well-liked alternative coins in the world and a favorite of both investors and creators.
You may utilize several Canadian Ethereum exchanges to quickly and securely purchase Ethereum using Canadian dollars (CAD).
The rivalry in the market is fierce in a number of areas, including trading costs, the security of the crypto platform, and other specifics like digital currency and brokerage accounts. The following are the best Ethereum exchange you can choose:
Coinbase has been in operation since 2012 and was established in the United States, specifically in San Francisco. It has an unmatched volume of trades and a lengthy history of providing security that is considered to be the best in the business. This has presented it as one of the best Ethereum exchanges.
It is undoubtedly among the greatest exchanges for purchasing Ethereum and other crypto assets. It is also one of the first companies to accept and offer numerous cryptocurrency-related products.
Coinbase has an excellent reputation for security. Perhaps most crucially, the exchange stores about 99% of the digital assets belonging to its members in physical cold storage.
You must also provide a code that Coinbase sends you via text message in order to verify a phone number.
It is advised that you set up a more secure 2FA (two-factor authentication) solution once your phone number has been verified. Direct text message 2FA is less secure because messages can be intercepted by hackers as they travel via the air.
There are more ways to strengthen the security of your Coinbase account. You might as well make use of all the security tools that Coinbase provides because more is usually better when it comes to security.
You have the option to ask Coinbase for the data you initially submitted to them after canceling your account. Additionally, you can ask Coinbase to remove the data from their servers. Given the importance of privacy in people’s lives, Coinbase deserves praise for handling and, if you so choose, securely destroying your personal information.
Thanks to its simple sign-up process and intuitive user interface, Coinbase is one of the most popular crypto on-ramps in the world.
The disadvantage is that the fees that come with it are typically on the pricey side. The fee for each buy and sell order that you put in is 1.49%, which is arguably the highest price you will find in this market. Additionally, larger fees apply if you trade less than $200 on a specific order.
Another thing to keep in mind about the Coinbase app’s fee structure is that you will be charged 3.99% per transaction if you want to instantaneously purchase Ethereum and other assets using a Visa or MasterCard. The only method to lower this price is to make a free bank transfer deposit of your money.
One of the most popular Ethereum exchanges worldwide is Binance Exchange. This became a reality by providing users with the greatest number of cryptocurrency trading pairs of any reliable exchange. Despite this, Binance has the biggest trading volume of any cryptocurrency exchange.
Changpeng Zhao founded Binance in 2017, and since then it has grown to be one of the top Ethereum exchanges. Binance Coin is the company’s cryptocurrency. Users can buy crypto assets directly from Binance using fiat money or a credit card. You can access Binance through its website, desktop client, or mobile application.
Although Binance was the victim of a $40 million attack at the beginning of 2019, the exchange responded quickly and paid out any affected users through Binance’s Secure Asset Fund for Users (SAFU). SAFU is a cold storage wallet that maintains sufficient capital to compensate for user losses. Since then, there have been no incidences.
In certain cases, it’s preferable to have these kinds of occurrences occur in exchanges so you can observe how they respond. In the instance mentioned above, Binance received a credit.
All the standard security mechanisms, like two-factor and universal-factor authentication, are available on Binance.
Binance offers the lowest trading fees out of all the major exchanges. Both buyers and sellers incur a fee of 0.1%. More than 50 Bitcoin (BTC) worth of trading volume on your account within a 30-day window will result in a fee reduction, as will holding more than 50 Binance Coin (BNB).
The network fee is the only fee associated with adding an asset to your Binance account. The Binance withdrawal fee varies depending on the asset you want to withdraw. There are minimal withdrawal amounts as well.
A cryptocurrency success story is Crypto.com. In addition to having the most popular domain name in the sector, they also have the goods and services to support their stellar reputation.
It is the least expensive Ethereum exchange, is simple to use, and provides the most user-friendly trading environment. At Crypto.com, there are over 250 cryptocurrencies to choose from, along with over 25 fiat currencies that may be traded via bank transfers, credit cards, and debit cards.
Some of the greatest security endorsements in the market have been given to Crypto.com. Among the certifications are those from the PCI:DSS, ISO/IEC 27001:2013, and the Cryptocurrency Certification Consortium.
“Security First. Always,” with the motto “Defence in Depth,” is the first line on Crypto.com’s security website. Together with the certificates, this statement of their values shows their dedication to providing their clients with the best level of security possible.
Crypto.com keeps an eye on all incoming transactions to make sure they aren’t made using money obtained illegally.
This is a smart move since it keeps them from being accused of laundering money for criminals. Exchanges should aspire to this degree of compliance and proactive efforts to avoid money laundering and other illegal financial activities.
Daily use of their mobile application and exchange requires 2FA using biometrics, the Google Authenticator app, or both. Finally, unless you have whitelisted the address they are transferring it to hackers will be able to get past the security.
By purchasing more of Cronos, the company’s main token, you can choose to opt into Crypto.com’s more affordable exchange costs (or CRO).
Their maker and taker costs, which are already competing at the most costly side of the spectrum, start at.2% of the trade’s value. What’s better is how you can get lower fees.
Shakepay is the ideal platform for anyone who wants to enter the cryptocurrency market for the first time. The simplest sort of trading available on this Canadian platform is the buying and selling of Ethereum and other cryptocurrencies.
Using a smartphone or desktop computer, users can purchase, sell, and store Bitcoin and Ethereum on the Shakepay platform in Canada.
When monies are saved in the Shakepay app, consumers are not permitted to possess their cryptocurrency private keys, but the firm makes it simple for users to transfer their funds to their own private cryptocurrency wallets.
With Shakepay Change, a separate tool, customers may easily buy a tiny amount of Bitcoin each time they use their debit or credit card to make a purchase.
Although Shakepay is still a relatively new player in the world of crypto exchange, it has already shown itself to be highly secure.
Shakepay stands apart from other exchanges since it is actually subject to real regulatory oversight. It is allowed to conduct money service business operations thanks to licenses from FINTRAC and AMF, two Canadian financial regulatory bodies.
Because there are few exchanges that are subject to any kind of regulatory oversight at the moment, shakepay ought to be regarded as one of the secure ones. In the event that you run across any software-related issues, Shakepay is renowned for offering excellent customer support. Shakepay is quite safe, to sum it up.
For purchase orders, sell orders, deposits, or withdrawals, Shakepay doesn’t impose any direct fees on its consumers. Transaction fees for Shakepay are therefore essentially nonexistent.
However, Shakepay generates revenue from the difference between buy and sell orders placed on the platform. This leads to an effective fee rate per trade of 1.75%, sometimes referred to as a spread fee. Additionally, if customers decide to make a wire transfer deposit or withdrawal, their banks might charge them more money.
KuCoin is a relatively new Ethereum exchange that has rapidly gained a devoted following because of its user-friendly layout and high level of security.
Because there are so many unique cryptocurrency pairs on the exchange, consumers can buy a wide range of cryptocurrencies. The Kucoin exchange only deals in cryptocurrencies, therefore if you want to buy coins with fiat money like HKD, USD, or CAD, you will need to use another exchange.
Additionally, the website provides its users with two-factor authentication. Contrary to several of the other exchanges, the site has never been compromised as of yet. It’s important to note that because it exclusively accepts cryptocurrency, its security methods differ slightly from those of websites that handle fiat currency.
You can always send issues directly to the staff, and customer assistance is typically fairly good.
KuCoin provides a tiered maker or taker fee scheme with trading costs starting from 0.0125% to 0.1%, according to your tier level. Its rates are reasonable compared to competitors, which may charge up to 0.50% for each deal. In accordance with KuCoin Token (KCS) balance, users can also receive trading fee savings.
Along with trading costs, KuCoin levies withdrawal fees, which vary by asset and are prone to fluctuate depending on the state of the market. On this exchange, deposits are free, however, it’s crucial to remember that there are currently only a few possibilities for fiat deposits.
When looking for the top cryptocurrency exchanges in Canada, the following criteria should be taken into account:
Your profit will suffer as a result of high trade expenses.
Beginners should stay away from cryptocurrency trading platforms that are too challenging to use. Even while these exchanges provide you more freedom, if you’re unfamiliar with cryptocurrencies, that could be daunting.
Determine whether the Ethereum exchange provides funding options that meet your needs. It’s best to use a mix of bank transfers, Interac e-transfers, and Ethereum deposits. Check to 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 forms of asset protection they offer. Check to see if they are accredited and have the necessary insurance, even if none of Canada’s cryptocurrency exchanges presently offer CIPF (Canadian Investor Protection Fund) security.
For ultimate security, you’ll want to be able to transfer your coins out of the exchange and into a reliable crypto wallet. Find out if the exchange uses cold storage to protect users’ money and get additional information about the security of the account, privacy, and insurance practices.
Experienced cryptocurrency traders may need a variety of features, including charting tools, different order types, a live order book, an OTC desk, and others But if you’re just starting out with cryptocurrency trading, you probably won’t give these any thought.
You must choose the best Ethereum exchange whose customer service is always available to hear out your complaints.
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.
The exchanges that are regarded as the best Ethereum exchanges typically provide minimal trading fees together with free services like withdrawals, etc. The user experience is something else to consider.
Users are recommended to trade on exchanges in their respective regions that are under government regulation. Some platforms also offer the option to set a daily transaction limit, removing the possibility of suffering a large loss.
Coinbase makes buying and selling Ethereum and other cryptocurrencies easy and secure. Join Coinbase to easily manage your cryptocurrency. It is accessible to more than 100 countries worldwide.
In Canada, it is best to select an Ethereum exchange that has been approved by pertinent domestic organizations.
While legislation and regulations around cryptocurrencies are still being worked out, Canada has recognized their increasing use and provided official recommendations to help make things clearer. In Canada, which they are governed by securities laws, cryptocurrencies are not seen as legitimate forms of payment.
See the top crypto deals and welcome bonuses on the market.
