Residents of Canada have a wide choice of cryptocurrency exchanges. However, if you are a beginner, it might be challenging for you to pick a trusted platform that would feature the necessary tools and functions for your needs.
In this article, we will talk about some of the best crypto exchanges in Canada that are worth attention, highlight their strengths and priorities, as well as services they offer to clients. (Visit there website) if you are looking for best crypto exchanges in Canada.
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Best Crypto Platforms in Canada in 2021
1. Binance
Binance is often called the leader among crypto platforms all around the world. It offers over 740 trading pairs, including fiat. This crypto exchange platform has colossal publicity. It is commonly used worldwide and ranks first in terms of trading volume. Along with high liquidity, this allows the platform to charge lower fees and offer competitive spreads to its clients.
The exchange is available to all Canadian residents except Ontario, as the company has recently withdrawn from the area due to regulatory actions. Canadian users may perform transactions with cryptocurrency and withdraw fiat to Canadian banks through SWIFT Transfers.
Compared to other exchanges, this platform charges cheap fees (from 0.01% to 0.1%) for swaps with bitcoin, altcoins, or stablecoins. It offers different services like:
- Trading with leverage
- Derivatives
- Basic and advanced trading
- A safe wallet to store cryptocurrency
- Earning interests
- Staking and cryptocurrency loans
- Binance VISA card
- Futures, options, spot trading
2. Coinbase
Coinbase is probably one of the best options for beginners, as this cryptocurrency exchange offers an easy interface but still a decent set of functions. Investors from Canada use this exchange to buy cryptocurrencies like Bitcoin, Litecoin, Bitcoin Cash, etc.
However, the commission for deposits and withdrawals may reach $3.99 depending on the amount, which might be too much for a beginner trader. Experienced traders use the advanced Coinbase Pro version of the platform that offers high liquidity and features a lot of useful functions and tools while charging a fee of up to 0.5% for a trade.
3. Bitbuy
It is a local cryptocurrency exchange operating under an entity of the Federal Government of Canada. It offers convenient and safe conditions for purchasing crypto assets. It is one of the few that provide an insurance policy for Bitcoin holders. However, this platform is available for Canadian residents only, and it does not support US dollars, euros, British pounds — only CAD. The exchange also has a mobile application for iOS and Android and boasts high-quality tech support.
4. Kraken
This site is included in the list of ten best exchanges in terms of liquidity, traffic, and the volume of spot trading on Coinmarketcap. The exchange offers over 120 crypto trading pairs as well as traditional Forex trading.
This service is suitable for experienced traders who want to make fast deposits in fiat and keep an eye on cryptocurrency rates and changes — all in one place. This site offers more options for depositing funds in the account with CAD, such as local Canada Post, SWIFT, or wire transfer. The latter provides no commission and completes transactions within 1-5 days.
Kraken shows your coin portfolio in charts and graphs that show prices, volumes, order flow, and more. The platform also offers staking coins. Technical support works 24/7.
5. Godex
This is a decentralized crypto-to-crypto platform for making swaps. At Godex.io, you can exchange over 200 coins and tokens, even the less known ones like WAX to TRX. The platform does not ask for your personal data, and your funds are not stored on the exchange.
The platform operates with fairness and respect to clients. For every swap, the Godex algorithms find the best profitable rates across all popular exchanges. The rates are fixed at the beginning of the transaction, which means no worrying about the volatile prices of the coins you are exchanging.
The interface is straightforward and beginner-friendly. The heart of the site is the Godex calculator, which shows you how much you need to deposit and how much you will receive in real-time. The exchange process is quick and effortless — it will take a few clicks and up to 30 min to complete your transaction.
Conclusion
These are the most trusted and commonly used crypto exchanges available for Canadian citizens. Before you make your final choice, be sure to check out the platform’s history, ecosystem, updates, detailed fees, and reviews of real users.
