The top crypto platforms and apps in Canada 2023

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The section that follows explores a selection of these brokers in detail, providing insight into their fees, platform, and features. Over-the-counter trading occurs outside of exchanges, just like peer-to-peer trading. But OTC trading generally refers to brokers that help high-net-worth clients trade millions of dollars worth of cryptocurrencies. This means that their trades probably aren’t registered on the public ledger, making them more discreet. If you’re looking for the best crypto exchanges in Canada for buying and selling bitcoin, ether and other cryptocurrencies, we’ll help you compare. You can buy Bitcoins, Litecoin, Ethereum, and other coins with Interac e-Transfer or bank wire for as low as 0.1% fees.

A two-year study and survey was conducted that began in 2016 and aimed to better assess the use, acceptance and knowledge of Bitcoin in Canada. The new regulations count virtual currency exchange as a Money Service Business (MSB). This classification requires these exchanges to report all transactions above $10,000 CAD ($7700 USD).

  1. Toronto-based VirgoCX was founded in 2018 with a mission to provide safe, easy and accessible crypto trading.
  2. We will also walk you through the basics before letting you know what the American entry into the market means for Canadian investors.
  3. Bitrawr ranks
    exchanges in Canada based on fees, users, and security while giving placement preference
    to exchanges located in Canada or specifically catering to users in Canada.
  4. The Purpose Bitcoin Yield ETF gives you something you can’t get by investing in Bitcoin directly—a yield.

The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market. P2P stock exchange portals, Bitcoin ATMs and local credit unions can always be used to buy cryptocurrencies. And as long as the demand for cryptocurrencies continues or even increases, the companies offering such services will continue to flourish.

The largest bitcoin futures ETF, ProShares Bitcoin Strategy ETF (BITO), recently passed $2 billion in assets under management, according to ProShares. And given the volatility of the crypto market, the risk can be very large. Cryptocurrencies, for the most part, aren’t backed by fiat currencies, and their values are almost entirely dependent on market speculation. Spot Bitcoin ETFs are funds that have purchased Bitcoin directly and hold Bitcoin as the underlying asset in the fund.

NDAX offers staking for certain coins (ADA, DOT, ETH, GRT, MATIC); its website has a handy staking calculator. This crypto trading platform is great for beginners with one-click trades and limit orders. However, it does not offer more advanced trading features like advanced limit orders or charting tools. VirgoCX is a Canadian crypto exchange in Canada that is especially suited for trades over $30,000.

Best Bitcoin Wallet for Canada

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Netcoins offers a range of deposit options including eTransfer, wire transfer, and crypto deposits, with free deposits except for bank wires under specific thresholds. Withdrawals are also convenient, with free options and varying fees based on the withdrawal method. Withdrawals are free for any amount by ACH Transfer, and you will pay $20 for bank wires.


So, by following the steps below, you’ll be able to be set up and ready to go with Avatrade in under ten minutes. The minimum deposit at is only $100 (123 CAD) and can be made via credit/debit card, bank transfer, or various e-wallets. Deposits and withdrawals are entirely free to make, regardless of which method you choose. also do not charge a monthly account fee – although they do charge a small inactivity fee after one year of no trading.

Bitbuy, ShakePay, and Kraken.

Yes, you can buy bitcoin safely and anonymously by using P2P (Peer to peer) exchanges like Bisq, Paxful and LocalSwap. There are 6 trusted exchanges operating in Canada with the most
popular being Bitbuy , ShakePay , and Kraken. Once your account has been funded, you are ready to buy your first bitcoin. The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet.

Top Canadian Forex Brokers Reviewed

The exchange has good support available through its live chat or via phone & email. Before you open an account make sure the platform and all its features are available in your location. For example, Binance is a global exchange available to most Canadians but you cannot connect to a Canadian bank account. Bitbuy is the overall best crypto exchange in Canada, offering robust security and the peace of mind that comes with regulation. It is registered with the Canadian Securities Administrators (CSA), the Ontario Securities Commission (OSC), and FINTRAC.

Shakepay claims that the majority of their assets are in offline cold wallets. All communication between the apps and Shakepay’s servers are made through Secure Socket Layer connections. Head over to Avatrade’s website and click the ‘Register Now’ button in the top right. You’ll then be prompted to enter some personal details, including your name, contact number, and email address. It is a priority for CBC to create products that are accessible to all in Canada including people with visual, hearing, motor and cognitive challenges.

Cold-stored assets are secured and insured by BitGoTrust Company while hot wallets are insured by Coincover. ETFs are an easy way to get bitcoin into your portfolio, because if you already have a brokerage account, there are no additional steps you need to take in order to purchase a bitcoin ETF. At the time of this writing, there are three bitcoin ETFs in Canada, and more are pending.

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Of course, there are also other companies that do not want to take action against cryptocurrencies. The TMX Group, for example, is planning its own service for cryptocurrencies.

VirgoCX: Best For Large Trades

If you are based in Canada and wish to begin trading the forex market, you must choose a safe and reputable broker to trade with. These days there are so many brokers to choose from, so it’s understandable a daunting prospect trying to decide which option is best for you and your investment situation. Spot Bitcoin ETFs offer investors improved accessibility to bitcoin and allows exposure to the cryptocurrency without having to purchase the asset. Spot Bitcoin ETFs hold actual bitcoin rather than derivatives tied to the price of bitcoin, meaning the price of the Spot Bitcoin ETF fluctuates with the price of bitcoin in cryptocurrency markets.

Bitbuy offers a good balance between the number of available cryptos, fees, and security. To reduce risk, look for how the exchange secures user information and your crypto. Regulated exchanges are required to collect a certain amount of information from you to open an account.