What is the best and safest Bitcoin exchange for Canadians?
John There are a few good options in Canada for Crypto exchanges. We’ve assessed a number of factors when putting together this list, including ease of use, fees, supported cryptocurrencies, trading features, and support.
Over the years we’ve reviewed 100’s of different exchanges all over the world. Bitbuy is definitely the best option in Canada for both new and experienced users.
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The Best Cryptocurrency Exchanges in Canada
1. NDAX Exchange
Our team is unanimous on its decision that NDAX is the best cryptocurrency exchange in Canada.
The platform is based out of Calgary and was launched in 2018 quickly becoming very popular in Canada. It has the backing of a major Canadian bank, so it’s come into the scene very well established.
NDAX offers a number of different ways to fund your trading account including Interac, Direct Wire Transfer, Bank Transfer, Debit Card & Credit Card.
2. Bitbuy Exchange
The platform was launched in 2013, under the name InstaBT, and was used for buying Bitcoin only. In 2016, it was rebranded as Bitbuy and added Ethereum, Bitcoin Cash, Litecoin, XRP, EOS, and Stellar XLM to its list of supported coins. You can make a deposit using these seven cryptos or use CAD instead.
To deposit CAD, you can use wire transfer, Interac e-Transfer, or Express Interac e-Transfer. Unfortunately, Bitbuy doesn’t support credit or debit cards at the moment.
3. Coinberry Exchange
Coinberry is the second Canadian platform on our list, founded in 2017. The fact that it’s registered with the Canadian Financial Transactions and Reports Analysis Centre makes Coinberry a trustworthy trading platform.
Users can buy and sell some of the most popular cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, and Stellar. Coinberry is more like a brokerage than a typical crypto exchange, meaning that you buy cryptos from and sell them to the platform itself in exchange for fiat currencies.
4. Newton Exchange
Newton is a new Canadian crypto exchange that has won the hearts of many in just a short time. The platform was founded in 2018 in Toronto. The main incentive of Newton’s founders was to help popularize cryptocurrency in Canada, as Canadians are still limited in their choice of exchanges compared to the US or Australia, for example.
Right from the start, Newton was registered with FINTRAC as well and adheres to their AML regulations. This has helped the platform gain even more support from Canadian traders.
5. Coinbase
So far, we’ve had three extraordinary Canadian exchanges. Now, let’s take a look at some international exchanges that work for Canadian residents too.
Coinbase is an American-based crypto exchange and brokerage, founded in 2012. It’s continuously being praised for its user-friendly interface and considered as one of the most reliable online platforms, licensed by different financial authorities and compliant with their AML and KYC regulatory policies.
6. Binance
Binance originally comes from China and represents the brainchild of Chinese developer Changpeng Zhao, who launched the platform in 2017. Cryptocurrency regulations are particularly strict in China, so the platform had to be relocated to crypto-friendly Malta.
Binance supports an extensive list of cryptocurrencies, from the most popular to the least-known ones that appeal to the most adventurous of traders. The exchange has even created its own token, the Binance token (BNB). Users who own BNB, have the option to spend them when paying for transaction fees and receive a 50% discount.