If you’re buying or trading crypto in Canada, the platform you choose can make or break your experience. Each exchange has its own fee structure, security strategy, and user experience, so it's important to evaluate all your options before deciding which to go with.

This page will walk you through what matters when picking an exchange, how the big names stack up on things like cost, security, and coin selection, and what to know before you place your first trade. To start, here’s a chart comparing the top Canadian crypto exchanges for 2025.

Cryptocurrency exchange comparison chart

Guide to cryptocurrency in Canada

Before you compare exchanges or place your first trade, it helps to understand the basics. Here’s a quick look at what cryptocurrency is, how it works, and why it’s become such a big part of today’s investing landscape.

What is cryptocurrency?

Cryptocurrency is digital money that exists without banks or governments. Bitcoin, Ethereum, and other coins are bought and sold online, and their prices move based on supply and demand. Some businesses accept crypto for payments, though most use it as an investment.

Transactions are secured using cryptography, a set of codes and techniques that keep assets safe without third-party approval.

How does cryptocurrency work?

Crypto might feel mysterious, but at its core it’s built on clear rules of math and technology. Understanding the systems behind it will help you see why people trust it and where the risks lie. 

One of those risks has nothing to do with technology at all: it’s taxes. In Canada, the CRA treats crypto as an asset, not cash, which means buying, selling, or trading can create a taxable event. If you’re investing, it’s worth brushing up on how cryptocurrency is taxed in Canada.

You’ll also want to understand the difference between buying crypto directly and buying it through an ETF. When you use an exchange, you own the coins themselves, which means you can store them in a wallet, stake them, or use them in other parts of the crypto ecosystem. With a crypto ETF, you don’t hold the coins — instead, you buy shares in a fund that tracks their price. It’s simpler to manage, but you pay fund fees and give up the flexibility that comes with direct ownership.

What is Blockchain?

Most cryptocurrencies, including Bitcoin, run on blockchain technology. It works as a digital ledger made up of blocks of transactions, with each block verified by the network before being added to the chain. Once a transaction is recorded, it cannot be altered or erased. 

This system not only provides a transparent and permanent history of activity, it also solved one of crypto’s earliest problems by preventing people from duplicating coins and spending them more than once.

How to buy cryptocurrency in Canada

Getting started with a crypto exchange doesn’t have to be complicated. Once you know the steps, the process is fairly straightforward — choose an exchange, link your account, make a purchase, and keep your assets secure. 

Here’s what that looks like in practice.

How to choose a crypto exchange

1. Check with your bank
   You’ll need to link a chequing account or debit card to fund your exchange. Some banks in Canada still block crypto transactions, so call your provider first to confirm you can actually move money into an exchange.
2. Select an exchange
   Platforms differ in fees, security features, and the number of coins available. Compare options and focus on the basics: cost, supported currencies, funding methods, and overall ease of use.
3. Purchase cryptocurrency
   Once you’ve chosen an exchange, link your account. Using a bank transfer often comes with lower fees than a debit card, so it’s often the smarter move. From there, you can place your first order.
4. Secure your assets
   After you buy crypto, you’ll receive a private key (a unique code proving ownership of your assets). Keep this safe. Some investors rely on exchange storage, but many prefer dedicated wallets for added protection.

What is a crypto wallet?

A crypto wallet stores your private keys. Some exchanges provide built-in wallets, but hardware or software wallets give you more control. Hardware wallets are offline and considered the safest option.

What is a cryptocurrency exchange?

A crypto exchange is a marketplace for buying and selling coins. Some exchanges are designed for ease of use, while others offer complex tools for traders. Make sure your choice supports Canadian dollar transfers.

Cryptocurrency exchanges

Crypto exchanges are platforms that facilitate the buying, selling, and trading of various cryptocurrencies between users. While the fees associated with exchanges are relatively low, they also feature elaborate interfaces and tools that can seem overwhelming to new investors. That being said, many larger and established exchanges also offer more user-friendly options for the inexperienced.

What are the different types of crypto exchanges in Canada?

Not every exchange gives you the same kind of access. Some connect you directly to the market, while others act as intermediaries and simplify the process, usually at a higher cost. Knowing the difference helps you choose the setup that fits your comfort level and goals.

Cryptocurrency brokers

If you’re new to crypto and the busy dashboards of some exchanges feel overwhelming, a broker can be an easier entry point. They handle the buying, selling, and trading for you, so the process is simple, though usually a bit more expensive. The trade-off is convenience, but there’s a catch: some brokers limit how and when you can move your money off their platform. That might not bother beginners, but seasoned traders who prefer using their own crypto wallets could find it restrictive.

What to look for in a cryptocurrency exchange

Fees

User fees are the primary source of income for crypto exchanges. These can vary depending on the platform, but the most common are transaction fees and deposit/withdrawal fees. 

Transaction fees are extra charges laid upon both the seller and buyer of a cryptocurrency. Depending on the exchange, these can be per-transaction or a tiered system based on trade volume, as illustrated below:

Deposit and withdrawal fees apply when you move money into or out of your account. Many exchanges keep deposits free or low-cost to encourage funding, but withdrawal fees are more common. If you plan to trade frequently, choose an exchange with lower transaction fees so costs don’t add up over time.

Security

Crypto exchanges are prime targets for hackers. If you plan to keep money on a platform, you need to know what safeguards are in place. 

Here are some crypto security features to look out for:

• Canadian registration with FINTRAC and, ideally, the CSA
• Cold storage for most customer assets
• Two-factor authentication
• Proof of reserves or independent audits
• Clear customer support

Some exchanges are also publicly traded, which adds another layer of scrutiny.

Selection

Most Canadian exchanges offer Bitcoin, Ethereum, and a few other top coins. If you want smaller tokens or niche projects, you’ll need an exchange with a larger list. Beginners can stick with the main coins, while more adventurous traders may want wider options.

The best cryptocurrency exchanges in Canada

Coinbase

Coinbase is one of the world’s biggest crypto brands and is fully registered with Canadian regulators. Most customer assets are kept in cold storage, and the platform requires two-factor authentication.

Canadian users cannot directly deposit CAD, but you can fund with a debit or credit card and cash out to PayPal. Coinbase was named the best exchange for crypto and staking variety in May 2025 by Forbes Advisor.

Best for: Beginners who want a familiar brand and large selection of coins
Watch out for: Higher fees 

Kraken

Founded in 2011, Kraken is known for strong security and deep trading features. It publishes proof of reserves verified by external audits. Kraken is registered in Canada as of 2025, and was ranked best crypto platform of 2025 for low fees and great features by Forbes Advisor.

The platform supports advanced trading, futures, staking, and institutional services. Fees are competitive, especially for high-volume traders. The interface is more complex than some Canadian-first platforms, which may intimidate beginners, but the depth of tools makes it a favourite for serious users.

Best for: Traders who value security and advanced tools
Watch out for: Steeper learning curve for new users

Bitbuy

Founded in 2016, Bitbuy is the largest Canada-only cryptocurrency exchange, with over 900,000 Canadians served and over $7 billion in cryptocurrency traded. It uses cold storage and licensed custodians with combined insurance coverage of more than USD $680M to safeguard client assets. 

The platform offers two trading modes: Express Trade for simple buy/sell and Pro Trade for advanced users. CAD deposits are free via Interac e-Transfer and wires, while withdrawal fees depend on the method. Pro trade fees run at about 0.10% for makers and 0.20% for takers, while Express trades include higher spreads.

Best for: Canadians who want a regulated, domestic platform with both beginner-friendly and pro-level tools
Watch out for: Low variety of coins and no credit card purchasing available

NDAX

Based in Calgary, NDAX offers over 30 coins and a clear fee system. Every trade costs 0.20% per side, deposits are free, and withdrawals are eligible for fees.

Security is handled through a partnership with Ledger Vault, keeping most assets in cold storage. The site also includes a transparent fee calculator so you know what you’re paying before trading.

Best for: Canadians who want transparency and a flat fee structure, with live chat available
Watch out for: Withdrawal fees can sting for smaller trades

Choosing the right crypto exchange in Canada comes down to balancing cost, security, and ease of use. Whether you’re after a beginner-friendly app, a platform with advanced tools, or simply the lowest fees, there’s an option that fits. Do your research, keep security top of mind, and pick the exchange that aligns with your goals.