This article has come up with the top ten places to buy Bitcoin in Canada. We have covered every platform’s features, fees, products, and pros and cons. So first, read to get a clear idea about all these platforms. Then, looking at their products and features, any user can get an apt idea of what to expect from the platform.
|Coinsquare||Available||95% cold storage and 2FA|
|Bitbuy||Not available.||95% of the assets are stored offline.|
|Coinsmart||Not available||Assets are secured and 2FA|
|Coinberry||Available||Offline security is provided|
|Shakepay||Not available||Cold storage, whitelisting, and insurance policy|
|NDAX.io||Available||Insurance policy for hot and cold storage.|
|Canadian Bitcoins||Not available||NA|
Also, read 6 Best Crypto Trading bots in Canada
1st Place to Buy Bitcoin in Canada: Bitbuy
What is Bitbuy?
Bitbuy Canada is one of the most accessible trading platforms to buy Bitcoin in Canada. Moreover, the platform is dedicated and designed in a format where things are pretty simple. As a result, every beginner can get familiar with advanced tools for expert traders.
To know more read our Bitbuy review.
Products Offered by Bitbuy
The platform offers exciting and valuable products to both beginner and expert traders:
- Bitbuy Pro Trade: Advanced tools are available for both experts and beginners for guidance and better exposure.
- Corporate: Instituitions can trade large amount of crypto assets through the corporate section.
- OTC: Over-the-counter is a product designed to support and guide investors who wish to invest $50,000 and more.
- API: Application programming interface gives the traders live exchanging prices, automated trading, high frequency, and the exceptional feature of CAD to-crypto.
- Bitbuy withdrawal Fees: Depend on the user’s withdrawing type.
- Bitbuy deposit Fees: Depends on depositing type.
- Bitbuy trading Fees: Maker fees is 0.10%, while Taker fees are 0.20%
Pros and Cons of Bitbuy
|Beginner-friendly platform.||Limited cryptocurrencies are available.|
2nd Place to Buy Bitcoin in Canada: Coinsmart
What is Coinsmart?
Coinsmart is the leading crypto exchange platform to easily buy Bitcoin in Canada. The platform speaks about how they are designed for beginners and built for experts. In addition, they have a lot of valuable features and products to offer to their users. Features like smart trade, good security, 24/7 live support, and many such features come in really helpful.
Coinsmart is an easy to use crypto exchange platform. Further, the platform offers a good range of products and features to its users. Have a look at these bullets points given below:
- Smartpay auto-sell wallets: With this, you can quickly receive and pay Bitcoins. The wallet also allows for fiat exchanges.
- Smart Trade/ Advanced Trade: with smart trade, traders can easily switch from one altcoin to other. At the same time, advanced trade is specially made for experienced traders.
- CS Prime: Offers services like a white glove to high-paying investors.
- Withdrawal Fees: Charges depends on crypto to crypto
- Deposit Fees: Depends on the mode of deposit.
- Trading Fees: For single trade, the charges are 0.20%, while for double trade, the charges are 0.30%.
Coinsmart Pros and Cons
|24/7 live support.||A limited number of cryptocurrencies are available.|
|A smart wallet is available.||High charges.|
3rd Place to Buy Bitcoin in Canada: Coinberry
What is Coinberry?
Coinberry is the safest crypto exchanging platform to buy and sell cryptocurrencies. The platform is backed and secured by financial institutions like Gemini Trust Company. In addition, Coinberry offers a learning centre to its users who are beginning their trading journey. The platform is easy to use and ensures the smoothness of transactions.
Coinsberry offers a range of products and services, some of them are as follows:
- Coinberry Pay: This product helps in receiving crypto and converting it into CAD easily. An advanced payment method is introduced.
- Autopilot: A unique way to save yourself from market fluctuations. The user goes into autopilot mode and does not follow the fluctuations while trading.
- Affiliates: Get access to your affiliate link, share the platform, and earn. You can also make a commission of up to 50% from traders who trade with your reference.
- Trust and Accountability: The platform is OSC and FINTRAC registered and is compliant with PIPEDA. Hence highly trustable platform.
- High Security: They have secured insurance, certifications, and licenses.
- Withdrawal Fees: No withdrawal fees.
- Deposit Fees: No deposit fees.
- Trading Fees: 0 to 2.5%
Coinberry Pros and Cons
|Low fees charged.||The platform offers only a few products.|
|Assets are insured.||No leverage.|
4th Place to Buy Bitcoin in Canada: Coinsquare
What is Coinsquare?
Coinsquare is an easy-to-use and secured platform that offers standard security policies. The platform provides easy pair trading and a low, transparent fees structure. Coinsquare regularly manages its ledger to monitor the assets of its traders. They aim to have a platform that helps have everyone’s digital currencies safely and efficiently.
Coinsquare offers several features and products to its users. Here goes our brief on the features and products you can expect from Coinsquare:
- Instantly trade any currency: The feature allows you to deal with any two currencies, Bitcoin or Ethereum.
- Is Coinsqaure safe? Coinsquare offers high security as 95% of the digital assets are in cold storage. In addition, the platform also has 2FA enabled. Furthermore, Coinsquare has various encrypted backups.
- Customer-driven experience: The platform has low fees and good customer support, making them a good pick.
- Funding options: The platform accepts various funding options like Interac e-transfer and wire transfer. For withdrawal, they accept direct bank deposits, wire transfers, wealth wire, and rushed wire.
- Support: The platform offers several FAQs regarding general verification, security, wealth, and other queries.
- Wealth: Traders with high net value get will get guidance from the account director for better trading.
- Withdrawal Fees: The charges range from 1-2% depending on the type.
- Deposit Fees: No deposit Fees.
- Trading Fees: For Bitmarkets, the Maker fee is 0.1%, while the Taker fee is 0.2%. For Quick trade the 0.2% for single trade while 0.4% for double trade.
Coinsquare Pros and Cons
|High security.||Very few products are offered.|
|Beginner-friendly.||Not so good trading features.|
5th Place to Buy Bitcoin in Canada: Shakepay
What is Shakepay?
Shakepay is one of the most accessible platforms to buy Bitcoins. The platform is smooth to start in your trading journey. Shakepay ensures that you have your first Bitcoin within minutes. In addition, the platform allows you to send your crypto to your wallet and makes it easy to convert your crypto-to-fiat, the Canadian dollar.
Shakepay is an intuitive and simple to use crypto exchange platform. Further, it offers a good range of products and features to the traders. Let’s take you through the products and features:
- Feedback: Shakepay offers a feedback page where the users can drop the feedback regarding the platform.
- Regulation: The platform is licensed by FINTRAC and the AMF.
- Security: Almost all digital assets are stores offline and backed by insurance.
- Responsive support
Commission-free crypto trading.
Shakepay Pros and Cons
|Low-fees.||Very few products are offered.|
|Beginner-friendly.||No advanced-level trading is offered.|
Also Read: 4 Best Free Open Source Trading Bots
6th Place to Buy Bitcoin in Canada: MyBTC.ca
What is MyBTC.ca?
MyBTC.ca is a 100% Canadian crypto exchange platform dedicated to Canada’s native land. They are a platform where any user can purchase Bitcoin instantly in the easiest way. In addition, the platform has innumerable ways to accept deposits which makes it convenient for a lot of traders who want to start their journey.
MyBTC.ca is simple to use but does not offer any unique or wide range of products to its users. However, we have given a brief of the products and features the platform offers:
- Lightning Fast: The platform offers quick speed while verifying and providing the cryptocurrency into your wallet address. Users can even visit the Canadian post and buy face-to-face.
- Trusted: MyBTC.ca has been working since 2016 and has gained sufficient trust. In addition, the platform is authorized for Flexpin and Interac.
- Convenient: Numerous payment methods and face-to-face facilities make them a suitable choice.
- Live chat support: The support is available 24/7 live for helping and guiding the users.
- Ease of use: The platform is easy-to-use as they have step-by-step guidance provided while the trader purchases crypto.
- Withdrawal Fees: Price ranges from $5 to $50
- Deposit Fees: Depending on the mode of payment, the charges range from 7.75% to 9.75%.
- Trading Fees: Minor fees while other charges depend on the Blockchain network.
MyBTC.ca Pros and Cons
|Accepts CAD.||Does not have a wallet of its own.|
|Users can purchase face-to-face.||Very few services are offered.|
7th Place to Buy Bitcoin in Canada: NDAX.io
What is NDAX.io?
NDAX.io is one of the crypto exchange platforms in Canada. It is designed for both beginners and pro traders with advanced tools and tracking of portfolios. However, beginners may face certain limitations on the cryptocurrencies provided to them.
The platform offers a standard range of products and features to its users. Let’s take you through the brief of some of the products and features provided by them:
- Exchange: The platform offers the facility of exchanging, buying, and selling in pairs and alone. Any user can go and visit their exchange product and see charts and other relevant information regarding the market. Have a look at the image given below:
- Affiliate: Become an affiliate to NDAX.io and earn crypto.
- Institutions: This product is designed for large volume trades. They call it NDAX wealth, where they offer the facility of OTC(over-the-counter) desk service to such users. Traders belonging to NDAX wealth enjoy a lot more perks than usual traders. Perks like no deposit fees, no withdrawal fees, same-day settlement, and many such benefits.
- Security: The platform is one of the most highly-secured mediums in Canada. Almost all the assets are secured offline in a cold wallet and are backed by multi-signature approvals. FINTRAC and AMF also register NDAX.io as a money service business. The platform also has many other security features.
- Withdrawal Fees: Fiat fees and crypto fees are fixed, do not vary with the amount. With fiat, the charge is $25.
- Deposit Fees: Free deposit with Canadian Banks.
- Trading Fees: 0.2%
NDAX.io Pros and Cons
|High security.||High fees.|
|Beginner-friendly.||NDAX wealth users get more benefits.|
8th Place to Buy Bitcoin in Canada: Newton
What is Newton?
Newton is a Canadian crypto exchange with no commission fees. To explore and purchase your first crypto, you can quickly try this platform without the fear of losing any amount. The platform has a good range of cryptocurrencies that one can check out. Newton accepts the Canadian dollar.
Newton Exchange Review
- High Liquidity: Provided high liquidity, transactions will take place at a faster rate. And you may not have to wait for long periods for your trade to take place.
- Competitive spreads: You will receive the best buying and selling price.
- Security: Factors like two-factor authentication is provided.
- Limits: There are trading limits on the platform.
- Live status: You can check out the live prices of currencies in the market.
Newton Exchange Fees
- Withdrawal Fees: Withdrawing charges are charged for the gas fees.
- Deposit Fees: None
- Trading Fees: None
However, always note the spread chart here. The impact of market fluctuations can be seen in the spreads, and this may bring you loss or an overlooked cost.
Newton Exchange Pros and Cons
|Minimal fees.||Daily trading on the platform is limited to certain amounts. Check the limits here.|
|The platform adheres to standard security practices like two-factor authentication.||Very few products and trading options are available.|
9th Place to Buy Bitcoin in Canada: Canadian Bitcoins
What is Canadian Bitcoins?
Canadian Bitcoins is a walk-in office platform where you can visit. You can easily walk in and clear your queries. However, the platform is beginner-friendly if you are beginning your trading journey as the user can easily walk into their office.
Canadian Bitcoins Review
Canadian Bitcoins has a physical office and performs most of its work from the office. Hence, it is advisable to visit their office for their services. Exciting features like:
- They accept cash, so you can easily take your money and see them.
- For online, the web service is quite simple. All the trader has to do is register, deposit their fund, and once the Canadian Bitcoins receive the amount, they deposit Bitcoins to your wallet address provided.
Canadian Bitcoins Fees
Withdrawal Fees: Depends on the mode of withdrawal. For example, If we Sell Bitcoins @ $75449.56/BTC. Then we can receive payment through these options:
- Direct Deposit to your Bank Account (FREE) OR
- Cash / XpressPost (National) ($15 or FREE over $500) OR
- Cash / XpressPost (Ontario/Quebec) ($10 or FREE over $500) OR
- Cash / In-Person Pickup (Ottawa) (FREE)
Deposit Fees: Depends on the mode of deposit. For example, If we buy Bitcoins @ $80540.42/BTC. Then we will be paying with these options:
- Bill Payment from Online Banking (FREE)
- Direct Debit from your Bank Account (FREE)
- Wire Transfer (FREE)
- Use account balance (FREE)
- Flexepin Voucher (1.5%)
- Cash via Mail/Courier (2%)
- Cash in Person (Ottawa) (2%)
- Credit Card (12%)
Trading Fees: Not available
Canadian Bitcoins Pros and Cons
|A Walk-in office is available for support.||Not a beginner-friendly platform|
|CAD accepted.||The web page can lead to confusion for new users.|
10th Place to Buy Bitcoin in Canada: Netcoins
What are Netcoins?
Netcoins is one of Canada’s most trusted trading platforms where you can easily buy, sell, and trade with $10. The platform gives support through live human chat for convenience. Furthermore, the platform is highly secured as the government regulates it. Netcoins is a registered MSB by FINTRAC, an entity of the federal government of Canada.
Netcoins is a simple crypto exchange but offers a few ranges of products and features to its users. Read further to know more:
- Price alerts: The platform provides price alerts to its users through SMS or mail.
- Limit orders: Users can set a limit to their order and make the transaction when the trade is at your set limit.
- Security: Registered under FINTRAC.
- Withdrawal Fees: None
- Deposit Fees: None
- Trading Fees: 0.5%
Netcoins Pros and Cons
|Regulated under the government of Canada.||High fees compared to industry standards|
|A limited number of cryptocurrencies are available.|
We hope all of the platforms mentioned above in the article are sufficient for choosing one such platform. Indeed, all of these platforms are distinct and have different products and features to offer. To pick a platform, you must analyze these platforms and your needs. Then, look for the platform that best fits your needs.
Frequently Asked Questions
Any platform that fulfils your needs is the best crypto exchange in Canada. However, there are specific platforms that offer excellent services and products. For example, platforms like Bitbuy, Coinberry, and Coinsmart are some of the best crypto exchanges in Canada.
Yes, Bitbuy is safe to use. They have high-security features like multi-tiered security, multi-layers of defence, security of assets by storing them in cold storage, audits, and many more.
Yes, purchasing cryptocurrencies is legal in Canada.