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The best exchange in Canada to buy crypto and Bitcoin.
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The best exchange for crypto trading in Canada.
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The easiest option for crypto investors in Canada.
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Buying digital assets in Canada is much easier than many people think. All you need to do is select a trusted exchange in Canada, create an account, deposit Canadian Dollars (CAD) and you are ready to buy.
The cryptocurrency exchanges listed below allow you to securely buy with Canadian Dollars from any bank account in the country including TD Bank, RBC Bank and CIBC Bank.
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The Best Exchange in Canada to buy, sell and trade Cryptocurrency
Bitbuy is the leading cryptocurrency exchange based in Canada. This platform simplifies trading of digital assets for all Canadian residents through their retail-friendly exchange, and convenient over-the-counter (OTC) services for institutional investors. They are a great way to buy Bitcoin with an RBC Bank Account or TD Trust Account.
Their fee's are the most competitive in the industry, and they also offer a great selection of cryptocurrencies to buy, sell and trade.
Pros
- Quick and efficient OTC Desk
- Suited for both beginners and advanced traders
- The only exchange in Canada to offer insurance
Cons
- Available only for users in Canada
Payment Methods
Best in class for security and data protection.
Kraken was founded in mid-2011 by long time Bitcoin advocate Jesse Powell and has grown to become one of the world's largest exchanges. Based on volume alone, they are the largest exchange in Europe and the UK.
Kraken is one of the most trusted exchanges worldwide.
Pros
- Very low fees for traders. 0.25% maker and taker fees
- Best in class for security and data protection
- Great volume for traders needing liquidity
Cons
- User interface can be confusing to newbies
Payment Methods
The premier place to buy Bitcoin in Canada
Coinsquare is the largest and longest running crypto and Bitcoin exchange in Canada. It enables users to easily buy and sell Bitcoin, Ethereum and other cryptocurrencies.
Their platform offers many different ways to trade crypto including an instant buy feature, traditional order book and OTC for institutional investors. Learn more about Coinsquare Fees.
Pros
- Canada's most prestigious Bitcoin exchange
- Easy to use platform with portfolio dashboard
- Low fees, secure and instant CAD deposits
Cons
- Verification times can be very long
Payment Methods
The premier exchange for Bitcoin traders
Binance is arguably the world’s largest Bitcoin and cryptocurrency exchange. They offer the best platform for crypto to crypto trades if you are looking to boost your Bitcoin holdings and stack some satoshi’s.
Buy Bitcoin Finder recommends Binance as the best place to trade Bitcoin against other cryptocurrencies for the lowest fees and the deepest liquidity. Binance also offer a Bitcoin Futures trading platform with up to 125x leverage.
Pros
- The best exchange in the world to trade cryptocurrency
- Binance offers margin trading and perpetual futures
- Easy to use interface for new traders
Cons
- Fees for day traders can get expensive if you do not trade using Binance coin
Payment Methods
Buy Bitcoin in minutes in Canada
Shakepay is a new and highly regarded Bitcoin and cryptocurrency exchange based in Canada. They have an easy to use web app and iOS/Android app that enables users to buy Bitcoin and other cryptocurrencies within minutes.
On Shakepay, users can cashin and cashout their cryptocurrencies with no fees, instantly. They offer Interac e-Transfer, EFT & Wire Transfer for deposits and withdrawals.
Pros
- Easy to use web and mobile app
- No deposit or withdrawal fees
- Based in Montreal, Canada
Cons
- Only offer Bitcoin and Ethereum
Payment Methods
Bitcoin trading platform trusted by the Canadian Government
Coinberry is an exchange based in Canada that offers a sleek and simple user interface on both their web and mobile app that enables users to buy, sell and trade Bitcoin, Ethereum and more.
Notably, they are the only FINTRAC registered and PIPEDA compliant trading platform in Canada - making it safe and easy to buy Bitcoin with a RBC Bank Account or TD Bank Account.
Pros
- Wide variety of payment options
- Trusted by regulatory authorities in Canada
- Quick verification times
Cons
- Coinberry only offers 6 different cryptocurrencies
Payment Methods
The Best Bitcoin and Cryptocurrency Exchange in Cayman Islands
CoinField is the best known Bitcoin and cryptocurrency exchange based in the Cayman Islands. They offer an end to end service for all kinds of crypto users including an easy to use exchange with an iOS and Android app, as well as a market leading OTC desk for institutional and high net worth investors.
CoinField are operational across 193 different countries and offer a wide range of payment methods and fiats to onboard into the digital asset space.
Pros
- 6 fiat deposit and withdrawal options
- Offer over 20 different crypto pairs
- Users can buy Bitcoin with PayPal
Cons
- The do not offer any of the new DeFi coins
Payment Methods
Invest in Bitcoin with a Debit Card or Credit Card Instantly
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Pros
- Purchase crypto with a Debit Card and Credit Card
- Highest limit to invest in Bitcoin using a Credit Card
- Reliable and trustworthy exchange
Cons
- Relatively high fees when using a Debit Card or Credit Card
Payment Methods
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The premier exchange for institutional investors
Gemini was founded by well known venture capitalists, the Winklevoss twins. They are a New York based Bitcoin exchange that enable residents of the United States, United Kingdom, Canada and more to buy, sell and trade using their exchange.
Gemini offer both a web application and iOS/Android app that enable users to invest in Bitcoin and other cryptocurrencies within minutes.
Pros
- The premier exchange for institutional investors
- Highly regarded security and reputation
- Easy to use iPhone and Android App
Cons
- Not available in all US states
Payment Methods
Trade a range of assets in one platform
eToro is a world renown multi-asset brokerage company that allows users to invest in Bitcoin as well as buy and trade other cryptocurrencies, stocks, ETFs, currencies, indices and commodities.
eToro is a well respected business that is best in class in terms of security and regulation from a global standpoint. eToro is available in most countries around the world including Australia, Canada, United States, United Kingdom, New Zealand and more.
Pros
- Gold standard in terms of regulation and security
- Simple user interface for new traders
- Social trading allows you to copy trade famous traders
Cons
- It isnt a pure Bitcoin exchange, which results in high fees
Payment Methods
Regulation of Bitcoin Canada (and Cryptocurrencies)
Canada allows the use of digital currencies like Bitcoin, however the regulatory authority of Canada does not consider Bitcoin and cryptocurrencies as legal tender. Canada’s tax laws and rules, such as the Income Tax Act, also apply to Bitcoin/crypto transactions. The Canada Revenue Agency has recently provided clarity and classified Bitcoin as a commodity, stating that the use of Bitcoin to pay for goods and services is to be considered a barter transaction.
In summary, buying Bitcoin in Canada and transacting Bitcoin in Canada is completely legal. But you still cannot buy Bitcoin on Questrade or many other brokerage accounts in the country, so you have to use a recommended and specialised cryptocurrency exchange.
The Canadian Revenue Agency’s view of Tax, Bitcoin and Canada
The Canadian Revenue Agency (CRA) has recently declared that Bitcoin and other cryptocurrencies are taxable as commodities as opposed to traditional currencies. As discussed above, this means that Bitcoin transactions are viewed as barter transactions.
With respect to profits from trading or selling Bitcoin in Canada, this is considered capital gains. This is largely due to the fact that only a part of that profit will be taxable at the applicable rate. Meaning you will only be taxed the amount that you profited from the transaction, for example:
1. John buys 1 Bitcoin in Canada at $10,000 CAD
2. John then sells that same Bitcoin for $12,000 CAD
3. The taxable amount is the $2,000 profit on the 1 Bitcoin
Mining Bitcoin in Canada
Quebec has been popularised as a great area to mine Bitcoin in Canada due to its inexpensive and largely renewable sources of power. For Bitcoin mining to be effective, it essentially requires the most energy at the lowest cost and this is why Bitcoin mining companies have started to build infrastructure in Quebec. The most popular source of renewable energy in Quebec at the moment is hydropower.
Over-the-Counter (OTC) Bitcoin Canada
If you are a high-net-worth individual or institution looking to buy Bitcoin shares (over $100,000 CAD) - we recommend you check out a Bitcoin over-the-counter (OTC) desk in Canada. Bitcoin OTC desks offer a personalized and secure service that allows you to buy over $100,000 CAD worth of Bitcoin without worrying about getting a bad price.
Buy Bitcoin Finder recommends Coinsquare as the go to OTC desk for Bitcoin in Canada. They offer fast settlement, personalised service, secure gateways to foreign currencies and much more. You can also purchase bitcoin using TD Bank in Canada or Scotiabank with Coinsquare.
The Price of Bitcoin in Canada
Learn more about the Bitcoin price in Canadian dollars here: BTC Price CAD
Or if you are interested in Ethereum, you can learn more about the price of ETH in Canadian dollars here: Ethereum price CAD
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