Explore The Best Crypto Exchanges in Canada in 2024

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Zachary R., Ramsha Naushad, Nicholas W.

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Are you looking for the best crypto exchanges in Canada in 2024.

Your search ends here, as we’ve prepared a detailed guide for you.

Get ready for an unforgettable journey and spend your time at some of the top exchanges in the market.

In this guide, you’ll also learn:

  • How to choose the best crypto exchanges in Canada
  • Pros and cons of exchanges
  • Best cryptos to use
  • How to buy Bitcoin

This and many more awaits, if you decide to read our thorough guide to the best crypto exchanges in Canada in 2024.

Best Sites



Exchange Rating 9.5
Available in
Available in United States

Kraken is one of the oldest exchanges out there, having been around since 2011. They offer many trading interfaces and are extremely trustworthy.

General Information

Year founded: 
Coins Available: 
Bitcoin Cash
USD Coin
Curve DAO Token
The Graph
Keep Network
Basic Attention Token
OMG Network
Ethereum Classic
Kyber Network
PAX Gold


Kraken is a registered US exchange, so they must follow strict KYC & AML laws. These laws prohibit anonymous accounts from being generated.


Kraken has one of the best reputations in the crypto industry. They are the only crypto company in the world to secure an SPDI banking license. 



Exchange Rating 7.7
Available in
Available in United States

Coinbase is the largest exchange in the United States by volume and has over 100 cryptocurrencies to purchase. Perfect for crypto beginners, Coinbase has an easy-to-use interface and trading screen.

General Information


Coinbase does not have anonymous accounts. Name and email are required to create an account, and identity verification is required to deposit and withdraw funds.


Coinbase was founded in 2012 and is one of the oldest and most trusted cryptocurrency exchanges around. They are also listed on the Nasdaq (COIN), forcing them to follow even more stringent and rigorous compliance rules.

Pros and Cons

DisclaimerThe information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.


    Why Trust Us

    Before you read our reviews, you should know why you should trust our guides. Our team is knowledgeable, with years of experience in the cryptocurrency field. It consists of experienced professionals involved in the crypto revolution from the beginning. 

    We have seen the crypto market evolve and can simplify complex concepts for you. Our team understands crypto exchanges, so it can offer the most accurate information. 

    Cryptomaniaks is dedicated to being fair and open in our approach. We know that the crypto market is ever-changing, and comes with both rewards and risks.

    Our goal is to give you impartial information and comprehensive reviews. Through careful research, we provide recommendations to help you make well-informed decisions.

    Key Takeaways


    • Consider liquidity, coin diversity, educational resources, and payment methods
    • Select between centralized, decentralized, and hybrid exchanges
    • Canadian exchanges need to register with bodies such as the Ontario Securities Commission


    Pros and Cons of Buying Crypto and BTC In Canada

    Here are some benefits and drawbacks to consider when purchasing crypto from Canada:

    Pros and Cons of Buying BTC & Crypto From Canada
    Pros Cons
    Canada's embrace of cryptocurrencies fuels a dynamic market Some exchanges offer a restricted selection of cryptos
    User-friendly interfaces of crypto exchanges in Canada make crypto trading easy Fees and expenses may impact affordability for exchanges and users
    A secure, regulated environment is ensured by the Canadian government Future changes may bring uncertainties
    Canadian exchanges prioritize robust security Transaction limits impact user flexibility
    Support for direct cryptocurrency-to-Canadian Dollar exchanges simplifies transactions Market competition challenges new platforms
    Canada fosters blockchain innovation  


    How to Choose the Best Crypto Exchanges

    Selecting the right crypto exchange is crucial for your cryptocurrency journey. Here are some key factors to consider:

    Coin diversity

    Look for an exchange that offers a wide range of cryptocurrencies. The most common is Bitcoin, but Ethereum and other emerging altcoins are also in demand. Consider your trading strategies and investment goals when assessing the coin selection.


    Check the exchange's liquidity, which determines how easily you can buy or sell assets. Higher liquidity means the exchange can handle large trading volumes. This also means that such a volume won't lead to significant price fluctuations.

    Fee structure

    Understand the fees associated with deposits, trades, and withdrawals on the exchange. Compare fee structures to choose the most cost-effective platform for your needs.

    When trading crypto, you might face fees based on a percentage of the amount you buy or sell. Some exchanges charge different fees for maker and taker orders.

    Exchanges often have fees for withdrawing coins. This can be inconvenient if you want to move your crypto to a different wallet or exchange. The withdrawal fees vary for each cryptocurrency.


    Go for exchanges with robust security measures. Some of these are two-factor authentication, biometric login, and cold storage for funds. Security is crucial to protect your investments from potential hacks.

    User-Friendly Interface

    Having an intuitive user interface is crucial, particularly for novice cryptocurrency investors. Crypto trading platforms should be easy to explore and understand. A cumbersome interface may lead to confusion about which areas to click or how to execute trades.

    As the number of features increases, the interface can become more intricate. The finest platforms strike a balance by offering a streamlined experience for beginners, while still incorporating enough features for advanced traders.

    Education resources

    Look for exchanges that provide educational materials to improve your knowledge and understanding of the crypto market. These resources can include guides, blogs, market analysis videos, and tutorials.

    Accuracy and accessibility

    Ensure that the educational resources are accurate and easily accessible. Reliable information keeps you informed about the latest market trends. Also, accessible resources help beginners grasp complex crypto concepts.

    Remember, the best crypto exchange for you aligns with your specific trading needs and goals. Consider these factors carefully before making your choice.

    Sign up offers

    Sign-up offers are becoming more common in the crypto exchange industry. These offers may include receiving free cryptocurrency or commission rebates. You often have to meet a minimum deposit threshold. Before claiming any offer, it is crucial to read and understand the terms and conditions.

    Tools & Features

    Many platforms provide a basic service focused on facilitating crypto buying and selling. Even so, most of them lack an extensive range of tools and features.

    On the other hand, some platforms offer a more comprehensive crypto ecosystem. For instance, users can earn interest on their unproductive digital currency deposits. At Binance, you can access advanced trading tools and leverage markets. This leads to more sophisticated trading options.

    Customer service

    Top-tier cryptocurrency exchanges in Canada provide round-the-clock customer support, available 24 hours a day, 7 days a week. Conversely, certain exchanges offer support services only during specific hours and days.

    It is advisable to verify the available support methods, such as live chat or email. Live chat is particularly advantageous since it allows for real-time assistance. In this way, it offers a convenient means of resolving queries promptly.

    The significance of licenses and geographical restrictions

    When you choose a crypto exchange, take the importance of licenses and geographical restrictions into account. These factors ensure that the platform is legitimate and trustworthy.

    Understanding crypto exchange licenses

    The licenses of crypto exchanges are incredibly important. They ensure that an exchange operates legally, safeguarding your investments. Engaging with an unlicensed operator exposes you to unnecessary risks.

    Regulations for crypto exchanges vary across regions. Therefore, it's crucial to ensure that the crypto exchange you choose is licensed in your specific region.

    Considering regulatory factors

    Regulators consider various factors when granting licenses to crypto exchanges. Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) requirements are among the most important. Exchanges must demonstrate robust procedures to prevent these illegal activities.

    Know-Your-Customer (KYC) procedures are also significant. They ensure that the platform can identify and verify user identities, creating a safer trading environment. Additionally, solid security and risk management measures are vital.

    A reliable crypto exchange should have effective protocols to protect users' assets and manage risks associated with crypto trading.

    Exploring exchange offerings

    Crypto exchanges provide a variety of products and services for the crypto community. These include trading platforms, tools, and individual/business services.

    Exploring trading platforms and tools

    Different crypto exchanges offer a variety of trading platforms. Some platforms are specifically designed for professional trading, providing advanced order types and customizable chart analysis tools. They offer insights into order books and fast execution, giving you the necessary tools for efficient trading.

    Understanding spot, margin, and futures trading

    The availability and benefits of spot, margin, and futures trading vary among exchanges. Experienced traders may find these options appealing, as they allow for trading opportunities and hedging against potential losses. Choosing a crypto trading platform that offers these features can enhance your trading experience.

    Crypto wallets and storage options

    When it comes to storing your cryptocurrency, there are various options available. Some exchanges provide self-hosted crypto wallets, offering security and control for users. It's important to choose an exchange that provides reliable storage options for your assets.

    Services for individual traders

    Crypto exchanges offer a range of services for individual traders. These include buying and selling crypto, earning crypto rewards, borrowing cash using Bitcoin as collateral, and creating or collecting NFTs. The best exchanges cater to your needs and provide comprehensive services.

    Services for business users

    Crypto exchanges also cater to businesses, offering institutional solutions, accepting crypto payments, listing assets on the exchange, and trading in the futures market. If you're a business user, ensure that your chosen exchange can accommodate your specific needs.

    Understanding accepted payment methods

    Knowing the accepted payment methods on a crypto exchange makes transactions smoother. These methods can include digital wallets like PayPal, traditional methods such as bank transfers and credit cards, and even digital assets.


    PayPal is a popular online wallet used on many crypto exchanges and online brokers. It allows efficient depositing, storing, transferring, and withdrawing of funds. With features like two-factor authentication, PayPal enhances transaction security.

    Credit/Debit cards

    Credit and debit cards, including Visa and MasterCard, are common payment methods on crypto exchanges. They facilitate direct money transfers from your bank account to the exchange. Authorization features like Verified by Visa add security to these transactions.

    Bank transfers: a viable alternative

    In some countries, using credit cards can be challenging, making bank transfers a suitable alternative payment method. In certain cases, these transfers can be processed instantly, providing quick access to trading on the exchange.

    Digital tokens

    On crypto-only platforms, digital tokens can be used as a payment method. This option offers the security benefits of decentralization, cryptography, and anonymous transactions. Digital tokens are a popular choice among many crypto users.

    How your payment method affects fees

    The choice of payment method can affect the fees associated with transactions on crypto exchanges. It's important to consider this factor when you select a payment method for your trades.

    The choice of payment method and its impact on fees

    The payment method you select can influence the fees you incur. Depositing with digital coins is often the most cost-effective. On the other hand certain methods like PayPal may involve withdrawal fees. It's crucial to consider the financial implications of your chosen payment method when trading on a crypto exchange.

    Knowing the payment methods and their associated fees significantly affects your trading experience. Select the payment method that best suits your needs.

    Different Types of Crypto Exchanges in Canada

    To understand the crypto world, it's important to have knowledge of different types of crypto exchanges. These platforms generally fall into three categories: centralized exchanges, decentralized exchanges, and hybrid ones.

    Centralized exchanges

    Centralized exchanges are the most common type. They function similarly to traditional banks, with a central authority regulating transactions. These exchanges offer high liquidity and trading volume, making them popular for crypto trading. Some of their benefits include:

    • High liquidity and trading volume
    • Customer support and user-friendly interfaces
    • Wide variety of cryptocurrencies

    However, there’re also some drawbacks such as:

    • Vulnerability to hacks
    • Dependence on the exchange's security protocols
    • Decentralized exchanges: A Peer-to-Peer Approach


    Decentralized exchanges

    Decentralized exchanges operate without a central authority, relying on blockchain technology for direct user transactions. They offer a high level of privacy and control over personal assets. You should choose them because of:

    • Greater control over personal assets
    • High level of privacy

    However, you should also pay attention to the following drawbacks:

    • Lower liquidity and trading volume
    • Complexity for beginners due to intricate interfaces
    • Hybrid exchanges: The Best of Both Worlds


    Hybrid exchanges 

    Hybrid exchanges combine features of both centralized and decentralized exchanges. They offer the security of decentralized exchanges and the liquidity and user-friendly interface of centralized exchanges. As a result, they are becoming increasingly popular among crypto users.

    You should choose them because of:

    • High security
    • Good liquidity
    • User-friendly interfaces

    Hybrid exchanges, however, have some limitations: 

    • They are still in the early stages of development
    • Limited customer support availability

    Your choice between centralized, decentralized, or hybrid exchanges depends on your preferences. It's important to understand the features, advantages, and disadvantages of each type before making a decision.

    Understanding How Crypto Exchanges Operate in Canada

    To interpret the world of crypto trading, it is vital to have a clear understanding of how crypto exchanges function. In Canada, these platforms play a significant role in the cryptocurrency marketplace.

    The basics of a cryptocurrency marketplace

    A cryptocurrency marketplace serves as a digital platform where users engage in the trading of cryptocurrencies. It acts as a meeting point where the supply and demand for various cryptocurrencies intersect.

    Essentially, a crypto exchange operates similarly to a stock exchange. Buyers and sellers come together to trade based on the current market price of a specific cryptocurrency. The price fluctuates based on the supply (sellers) and demand (buyers) within the marketplace.

    Each transaction involves two parties: the maker and the taker. The maker places a limit order either below or above the market price. In contrast,the taker places a market order that is instantly filled at the best available price.

    Most Canadian crypto exchanges offer a range of trading options. These options include buying and selling popular cryptocurrencies such as Bitcoin and Ethereum. There are also more advanced trading features.

    Security is a major focus for these exchanges. Many employ a combination of hot wallets and cold storage to protect users' cryptocurrency holdings. Hot wallets are used for immediate transactions, while cold storage provides long-term holding security.

    Additionally, these platforms provide user-friendly interfaces, customer support, and various deposit and withdrawal methods. Common options include Interac e-Transfer, credit cards, and wire transfers.

    The operation of a crypto exchange in Canada revolves around providing a secure, convenient, and efficient platform for trading cryptocurrencies. It functions as a dynamic marketplace where supply and demand determine prices. Various features are in place to facilitate effortless transactions while prioritizing security.

    How to Use a Crypto Exchange

    With all the information you need to choose the right crypto exchange, we can now conclude this guide by giving you instructions on how to set up an account right away.

    Step 1: Account Registration

    Head to one of the recommended exchanges from our list and initiate the process by creating a complimentary trading account.

    To proceed with the account setup, you will be asked to provide personal details including your name, address, and other necessary information.  You will also be required to supply your email address.

    Step 2: Verification

    In order to engage in crypto trading, you must complete a Know Your Customer (KYC) process. This entails submitting various verification documents such as a government-issued ID and a recent bank statement.

    Step 3: Deposit Funds

    You can conveniently deposit funds into your account using Interac e-Transfer, a bank wire, or alternative methods.

    Step 4: Purchase Crypto

    Most exchanges offer a selection of cryptocurrencies available for immediate purchase. To proceed, simply click on the 'Trade' button and select the desired cryptocurrency you wish to buy.

    Then, insert the amount of money that you would like to invest into the respective crypto asset. Finally, confirm the order – and exchange will add the digital tokens to your wallet.

    Learning How to Buy Bitcoin

    Bitcoin, as a highly sought-after cryptocurrency, offers a unique combination of decentralization, security, and growth potential. To buy Bitcoin, follow these steps that cover platform selection and ensure a secure purchase.

    Step 1: Selecting a Crypto Exchange

    Begin by choosing a crypto exchange where you will conduct your Bitcoin transactions. Canada hosts numerous exchanges, each with varying features and security measures. It is essential to select one that best suits your trading needs. Look for an exchange with a user-friendly interface, robust security protocols, and responsive customer support.

    Step 2: Setting Up a Payment Method

    Once you have chosen a crypto exchange, you need to set up a payment method. Many Canadian platforms accept credit cards, Interac e-transfers, and wire transfers. Select a method that is convenient for you and meets the platform's requirements. Keep in mind that certain payment methods might come with additional fees, so choose wisely.

    Step 3: Placing a Bitcoin Order

    With your payment method established, you can now place an order to buy Bitcoin. This typically involves specifying the desired amount of Bitcoin and confirming the transaction. Before finalizing the order, ensure you have checked the current market price and the platform's fees.

    Step 4: Securing Your Bitcoin

    After purchasing Bitcoin, it is integral to store it securely. Most crypto exchanges offer digital wallets for storing your cryptocurrencies. However, for enhanced security, consider using a hardware wallet. This device stores your Bitcoin offline, safeguarding it from potential online threats.

    Step 5: Exploring Diverse Purchasing Methods

    Apart from crypto exchanges, there are alternative methods for buying Bitcoin. These include peer-to-peer transactions and gift cards.

    In peer-to-peer transactions, you can directly purchase Bitcoin from other Bitcoin owners. You can redeem gift cards for Bitcoin on specific platforms. It's important to note that these methods might  not be as secure as established exchanges, so caution is advised.

    The process of buying Bitcoin involves selecting a reliable platform, setting up a payment method, placing an order, and securing a storage solution. With proper research and security measures, you can proudly become a Bitcoin owner in Canada.

    The History of Bitcoin

    Bitcoin, the top cryptocurrency, has a fascinating backstory full of mystery and innovation. Knowing its history can give valuable insights into its present state and future potential on crypto exchanges.

    In 2008, an individual named Satoshi Nakamoto unveiled Bitcoin, a groundbreaking digital currency, through a published whitepaper. Bitcoin aimed to facilitate peer-to-peer transactions without relying on a central authority, revolutionizing conventional financial systems.

    On January 3, 2009, Nakamoto mined the first Bitcoin block, called the 'Genesis Block.' It contained a message that indicated Bitcoin's potential to fix issues in the banking sector. This marked the beginning of Bitcoin's journey in the realm of cryptocurrencies.

    The growth and expansion of bitcoin

    Over the years, Bitcoin gained reputation and widespread adoption. In 2010, the first Bitcoin exchange was launched, allowing people to trade Bitcoin for traditional currencies. Since then, plenty of Bitcoin exchanges have emerged, transforming the cryptocurrency landscape. Today, Bitcoin stands as the most valuable and widely traded cryptocurrency.

    The significance of Bitcoin

    Bitcoin's evolution serves as a benchmark for the growth of the entire cryptocurrency industry. Its creation introduced blockchain technology, the underlying foundation of all cryptocurrencies.

    Bitcoin's increasing acceptance in mainstream financial systems has paved the way for the rise of various crypto trading platforms. These platforms have democratized access to Bitcoin, fueling its widespread use and growth.

    Looking back, Bitcoin's history exemplifies the power of innovation. From its humble beginnings to its current position as the leading cryptocurrency, Bitcoin has paved the way for a new era of digital assets. Its history underscores the potential of cryptocurrencies and the vast opportunities they offer in the ever-evolving world of finance.

    Overview of Canadian Crypto Laws

    If you're interested in exploring the world of cryptocurrency, it's essential to understand the legal landscape surrounding crypto exchanges in Canada. These exchanges operate within a defined legal framework that prioritizes investor protection and overall market integrity.

    In Canada, crypto exchanges are recognized as money service businesses (MSBs). They fall under the jurisdiction of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC's role is to make sure that exchanges have robust systems in place to prevent money laundering and other illicit activities.

    Additionally, crypto exchanges must comply with provincial securities laws. Depending on the province, they may need to register with bodies such as the Ontario Securities Commission (OSC). These regulations aim to promote fair trading practices, transparency, and safeguard the interests of investors.

    It's worth noting that cryptocurrency regulations are continually evolving. Staying up to date with changing laws and guaranteeing compliance is crucial. Canadian platforms not only follow these regulations but also implement additional measures. This makes users’ funds more secure. 

    While the legal landscape may appear complex, it exists to foster a secure trading environment. Familiarizing yourself with these legal aspects will enhance your confidence when you participate in the crypto world. This gives you a secure and regulated experience.

    Tax Treatment of Bitcoin in Canada

    For investors and those interested in Bitcoin, it is crucial to understand the taxation aspects. Your involvement with BTC can have implications for your financial planning and legal standing.

    It is important to be aware of how Bitcoin is taxed in Canada, which primarily revolves around the concept of capital gains. When you trade Bitcoin, and make a profit, you usually convert it into fiat currencies like Canadian dollars. If this is the case, the profit is considered a capital gain by the Canada Revenue Agency (CRA).

    No matter how large or small this capital gain is, it’s subject to taxation and must be reported on your annual tax return. It is essential to maintain a full list of your transactions.


    Bitcoin mining


    Bitcoin mining is another area that falls under taxation. If you use e software and hardware resources to mine Bitcoin, the CRA requires you to declare the value of the Bitcoin you earn as income at the time of receipt. These rules apply to individuals mining from their desks, as well as major companies using extensive resources.

    For frequent traders, there are important regulations to keep in mind. If you trade Bitcoin like a dealer, the CRA may consider it a business. In this case, your trading profits are taxed as business income. While high-volume trading can be profitable, it also means you have more tax responsibilities.

    The taxation of Bitcoin transactions for goods or services is becoming more important. As Bitcoin becomes more widely accepted, more businesses and customers use it as a payment method. At any rate, you need to report these transactions as taxable events in order to follow the law.

    Managing these responsibilities has been made easier with the advancements in technology. Cryptocurrency exchanges have developed apps for both Apple and Android users, providing efficient account management functionalities. These include deposits, withdrawals, opening and closing trades, and order management.

    Asset protection is a critical aspect of Bitcoin trading. Ensuring the security of your crypto assets should be a priority for all traders, given the current landscape.

    To navigate the tax rules for Bitcoin in Canada, you must understand your obligations as an investor or trader. The government's regulations and policies affect how taxes apply to Bitcoin.

    Stay informed about your tax responsibilities, keep track of your transactions, and protect your assets. By following these steps, you can engage in the Bitcoin economy and stay on the right side of the law.


    Crypto exchanges have different features and trading requirements, and the best choice can vary for each person. It's important to do your own research.

    Before deciding, we suggest reading reviews of popular cryptocurrency exchanges in Canada and worldwide. Compare the platform's features, fees, benefits, and drawbacks. Consider how well they align with your investment goals and financial plan.

    Frequently Asked Questions

    Are crypto exchanges regulated in Canada?

    Crypto exchanges in Canada are regulated. They must register with securities regulators. The regulations include no margin or credit offerings to Canadian clients. There are restrictions on acquiring stablecoins and proprietary tokens without consent from the Canadian Securities Administrators (CSA). The requirement is to securely store crypto assets.

    Is it legal to buy and sell cryptocurrency in Canada?

    Indeed, buying and selling crypto in Canada is legal. Trading crypto or using it does not violate any laws. Still, it is important to note that no cryptocurrency is currently recognized as legal tender in Canada. There is no indication that this status will change in the future.

    How to verify my identity on a Canadian crypto exchange?

    Verifying identity on a Canadian crypto exchange involves creating an account, providing personal information, and uploading a valid government-issued ID. Advanced facial recognition technology ensures the photo matches the ID. Some exchanges may include a video call verification process, where a representative asks questions to confirm identity.

    How to ensure the security of my funds on a Canadian crypto exchange?

    To secure funds on a Canadian crypto exchange in 2023, choose a platform with advanced encryption, multi-factor authentication, and a significant portion of user funds stored in offline cold storage wallets. Regularly update passwords and enable withdrawal confirmation emails or SMS alerts for added security. Consider using a hardware wallet for offline storage, providing an extra layer of protection against potential cyber threats.

    Can I trade altcoins on Canadian crypto exchanges?

    Canadian crypto exchanges cater to diverse altcoin trading demands. They present a range of options from Ethereum and Litecoin to emerging cryptocurrencies like Cardano and Polkadot. With robust security measures in place, these exchanges prioritize the safety of funds, ensuring a secure trading experience.

    Are there any exchanges in Canada that offer margin trading options?

    Certainly! In [current:year], several Canadian crypto exchanges provide margin trading options. One prominent platform, recognized for its advanced features, is known for robust margin trading capabilities, enabling users to amplify potential profits through leveraged positions.

    Written by

    Tamara T.

    Tamara is an entrepreneur and content specialist. She is passionate about gambling and cryptocurrency world, having worked on different casino and crypto writing projects. Tamara is also interested in legislation, investments, and DeFi.

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