Jul 01, · For VIP 1, the first tier of Binance’s discount system, your maker fee drops to percent, and your taker fee stays at percent, if you trade at least Bitcoins in a day period, and hold at least 50 BNB. Though this doesn’t seem like much, these percentage points can add up for users who trade millions of dollars worth of Bitcoin. Kraken is more than just a Bitcoin trading platform. Come see why our cryptocurrency exchange is the best place to buy, sell, trade and learn about crypto. Dec 09, · Available Cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP Coinberry is a good option to buy cryptocurrency in Canada with 0% fees on deposits/withdrawals and only % trading fees, it’s very affordable to start buying crypto.5/5(15).
Trade bitcoins canadaThe Best Cryptocurrency Exchanges in Canada - Comparison
To make this happen, you need to use a cryptocurrency exchange. Start by finding one that best fits your purposes. Before getting too deep into the research process of finding the right cryptocurrency exchange that you need, you must first understand the different types of exchanges you might encounter, what their benefits are, and the risks that some of them might pose that you need to watch out for.
If you are just getting your feet wet with cryptocurrencies, it is a good idea to understand the different options available when it comes to exchanges. They pose both rewards and risks, depending on how you choose to obtain your coins. Here is a little insight:. Peer to peer and traditional are two different types of currency exchanges you might encounter during your search for the right exchanges in Canada. First, traditional exchanges are organizations that purchase and sell cryptocurrencies as a business.
These types of exchanges often offer the best rates to their users. In addition, they also impose the most requirements in a number of situations. Because these organizations are designed to transmit, facilitate, and exchange cryptocurrencies, they impose many procedures and regulations, both to protect themselves from falling victim to fraud, and to follow the law.
You will frequently encounter wait times, either to transfer funds or when trying to verify your identity. After you have become an established client, the exchange will lessen in the amount of time that passes before you can receive your cryptocurrency. The reason all of this can be so time-consuming is that there are limited payment options available through traditional exchanges.
Through them, the only way to make the exchange from your typical currency to a traditional currency is to make a bank transfer of your funds to the exchange.
It takes time for this transfer to clear, delaying the amount of time it takes for you to receive the cryptocurrency. Peer to peer exchanges, on the other hand, are exchanges that allow you to exchange your typical currency for cryptocurrency through a transaction that takes place between two private individuals. These exchanges have a lot of things in common with traditional exchanges. However, they do come with their own benefits and risks.
With peer to peer exchanges, it is common for the verification steps and wait times to be less than what you would find from a traditional exchange. Using a peer to peer exchange essentially means taking on different risks for increased benefits.
As you will be conducting private transactions with other individuals, you will not be afforded the protections that come with trading with a reputable, Canadian, established, traditional exchange. In most cases, transactions on peer to peer exchanges are completed smoothly, with thousands of successful trades conducted on a daily basis. Now that you know a little bit about the two main types of exchanges you will encounter during your time trading with cryptocurrency from Canada, the next step is to start looking at specific exchanges.
On the other hand, Bitcoin exchanges such as Bitbuy , the most popular Canadian crypto exchange, let you fund your account via Bank Wire, Interac eTransfer, or Flexpin.
As a Canadian trader, the best thing about using a local exchange like Bitbuy is the ability to pay in your native currency, i. The platform is very user-friendly and allows customers to choose between a basic Express Trade and an advanced trading system Pro Trade. Both of them offer Bitcoin and a couple of other prominent cryptocurrencies at affordable fees.
These coins are a double-edged sword: they have a low market cap and are almost worthless at the start, but if sufficient attention has been drawn to them, it drives their price up, and they turn into a lucrative investment.
If this type of trading appeals to you, our advice is to look for a well-established exchange that has large trading volumes and high liquidity. We recommend using Binance , one of the largest cryptocurrency exchanges in the world. On top of that, Binance provides its customers with a plethora of advanced trading tools, order books, and depth and price charts.
The cheapest crypto exchange is not always the one with the lowest transaction fees. Even if the platform offers an affordable flat fee, the deposit and withdrawal fees could be over the top, or the spreads might be too wide. You should also keep in mind that fees will vary according to your preference: are you looking to trade or simply purchase some coins?
Sometimes, exchanges have lower tiers and higher fees for users with low trading volumes that lift up as their volume increases. For example, Coinberry is a good place to purchase your first cryptocurrencies in Canada as they have a 0. For traders that want to try something new, we recommend visiting Newton , a promising new Canadian crypto exchange.
Newton operates as a brokerage that buys the coins beforehand and sells them to its customers making a profit from the small bid-ask spread. Moreover, makers are rewarded with discounts for the liquidity they bring to the platform.
To those of you who are primarily interested in trading crypto to crypto, Binance has the best offer. On top of its starting 0. The way in which researchers estimate whether an exchange is large enough or not is by taking into account its trading volume.
This metric is important because it gives us an insight into the level of liquidity that a platform can deliver and the popularity and attention it gets on a daily level. They either do this by means of market manipulation or wash trading. Luckily, there are still some groups of researchers and experts that try to bring more transparency to the industry. The results from the calculations done by the Blockchain Transparency Institute show that Binance is the number one crypto exchange by trading volume.
Next comes Coinbase , an American brokerage that offers its services to Canadian traders as well. Typically, the largest cryptocurrency exchanges are the most popular ones as well. The large trading volume indicates the exchange has been used by a great number of traders with different backgrounds, profiles, and trading strategies, all of whom seem to vouch for its reliability and performance.
Judging by this, both Binance and Coinbase automatically make it to the list of most popular crypto exchanges. This has been confirmed with data from the Blockchain Transparency Institute and Similarweb who found that these two platforms have had the highest number of website visits. The fact that this platform can only be used in Canada tells us that its large trading volume comes exclusively from local traders. By focusing on one market only, Bitbuy can afford a dedicated support team that promptly solves any customer queries.
The first thing that a trading platform should have is high liquidity which acts as a safety margin that promises the platform is able to pay its debts and liabilities. Next, a trading platform incorporates advanced features such as margin trading with x leverage, live market data and charts, futures, and options. NDAX is by far the best Canadian exchange for advanced traders. It offers all sorts of orders for the daring and adventurous: regular market orders, stop-limit orders, trailing orders, and fill or kill orders are just a couple of them.
If your field of interest is margin trading then definitely give Binance a try. The Hong Kong-based exchange offers margin trading with x leverage.
Kraken , on the other hand, is great for futures investments. Whatever trading platform you choose, be extra careful in your investment strategy. These advanced options have the potential to bring you high profits but they could just as easily result in heavy losses.
The safest cryptocurrency exchanges are the ones that invest in both platform and account security. The two exchanges monitor the transactions of their customers in order to identify suspicious trading patterns which are then reported to FINTRAC. They arrange frequent audits from third-parties that inspect all departments. As far as account security is concerned, users on Bitbuy and NDAX are required to log in using the two-factor authentication method.
With the growing number of cyber thefts and security breaches, the well-known KYC or Know Your Customer check has become mandatory on most crypto exchanges. Apart from basic personal information such as full name, address, and telephone number, most KYC checks ask for a utility bill to prove your place of residence and a copy of a government-issued ID.
The opinions among traders are divided regarding this regulation. Some of them approve this type of identity verification because they believe it enhances the level of security on the platform. Others feel like it goes against the core philosophy behind cryptocurrencies — more user privacy.
There are some limits that you should keep in mind as well. This is because only a part of that profit is taxable and at the applicable tax rate. Their non-custodial which means they do not hold your coins for you, making it one of the safer exchanges to use in the great white north! You've probably heard of Coinberry. The company has managed to become a well-known name in the Canadian industry in a short amount of time, featuring a full service desktop and mobile app to buy and sell coins on.
While most crypto exchanges are only around 5 years old at this point, Coinberry is still relatively new on the market, even for those standards. The company was founded by Evan Kuhn and Andrei Poliakov less than three years ago.
Poliakov has served as the company's president since its inception. From the get-go, as Khun said to Todd Shapiro on his podcast in , their main mission was to make cryptocurrencies more available to Canadian citizens. They started with their local area first. Originally, the company only set up ATMs around Ontario, but they expanded in a matter of months. In December of , just a short few months after they got their start, the company partnered with Ghost Technologies Inc and started installing ATMs outside of Ontario.
At Coinberry we believe in an inclusive blockchain-based economy. So we set out to build a global digital financial institution of the future. And we started with the most important step: building a trusted digital asset trading platform. Seeing how the company is still pretty new, it shouldn't come as a huge surprise that they don't have great crypto-asset coverage At the momen.
As of writing, they only support buying and selling of:. This may be a bit underwhelming for long-time crypto users that are accustomed to more than a 5-coin offering. The team is planning to introduce more currencies down the line, but for now, these are all they have. One of the best aspects of Coinberry is possibly fantastic fees, to say the least.
The company markets itself as a zero-fee service and wouldn't you know it, they actually stay true to their promises. These are the Coinberry. You'd be glad to hear that unlike most crypto exchanges online, Coinberry does have an active hotline. They do a bulk of their customer service over the phone, and if you have an emergency on your hand, this is the best and the quickest way to reach out to them.
Of course, they also have email support, so you can shoot them a question any time and they'll answer within 24 hours. Tier site has a Frequently Asked Questions section, as well as a company blog, so if you have some basic questions about their services, you can possibly find them there. Overall, we can safely say that Coinberry.
Some crypto users would argue that's it a bit too secure since it requires all of their users to identify themselves before they register an account. Every user is required to verify their identity before creating an account. This can be accomplished by scanning and uploading one of your several personal documents.
This can be a huge turn off for some, so keep it in mind. There are only two Bitcoin exchanges that comply with these rules, and Coinberry is one of them. They've also completed an accounting audit successfully last year. Since Coinberry is trying to function as a proper money service, they have higher security standards than most Bitcoin exchanges not only in Canada but in the whole of North America. They have both a customer and a company fund for fiat currencies, plus they provide cold storage and 2-factor authentication as well.
Since many people like to cut the chase and only see the positive and negative aspects of a crypto exchange, here we are. We've compiled a shortlist of Coinberry pros and cons you can use it when comparing it to other crypto exchanges. Coinberry is a serious company that runs a good, beginner-friendly operation. You should definitely try their platform out if you're from Canada. On the other hand, you should possibly look for something else if you're living outside of the Great White North.
Although not many people have heard of Bitbuy, they're definitely worth your time and consideration. The company was originally founded seven years ago by Adam Goldman and Ademar Gonzalez. They are one of the oldest crypto exchanges in Canada, so you know you can trust them. For almost five years, they worked with only a small number of users, but then, they decided to expand their operations. In , after the company receives additional funding from a PEF, Ademar left the board. He was soon replaced by Chris Ragobeer , who worked as a mobile developer and an IT project manager.
It's also worth mentioning that the company is a part of the First Ledger Corp. As a company, Bitbuy is fully transparent about their operations and actions. So much so that they've provided a link to a report about their operations, conducted by Cipher Blade. The aforementioned company provides blockchain forensics services and analyzes crypto-related business and here are their biggest findings of Bitbuy:. Fiat Currency Holdings: Bank reports were recovered, checked, and verified by international banks.
The statements were all correctly filled in the Bitbuy system. Cryptocurrency Holdings: The number of assets and coin holders matched the one Bitbuy reported. Customer assets match those in Bitbuy's system. Staff and Operators: Every worker in the company had their personal records checked.
The company discovered that none of them had any criminal activities on their records. Like many other medium-size exchanges in the industry, Bitbuy. They will probably expand their offering in the near future, but for now, these five coins are it.
The small offering gives you an insight into what's Bitbuy. You can always connect your Bitbuy account with another exchange and use it to buy other coins. Although Bitbuy fees are slightly above the market average, the company makes up for with lower withdrawal and deposit fees. When it's all added up, the fees are quite average. Let's take a look at the standard Bitbuy. Furthermore, if you're looking to combine express trade with e-transfer, the exchange rate is 2.
You can check their fees in more detail by visiting this page here. When it comes to customer support, Bitbuy operatives are surprisingly efficient. While many larger and well-known names in the crypto industry will have you waiting for hours and hours for a response to a simple inquiry, Bitbuy answers almost immediately.
This shows that they value their customers and want to take care of them to the best of their abilities. There's a support hotline, which allows you to talk a Bitbuy representative in a matter of minutes. People who have something to ask urgently should use this channel.
You also have email support available. They answer emails in less than 12 hours and you can expect their answer on the same day. You can check Reddit to see just how many people are satisfied with their experience.
Bithumb Cryptocurrency Exchange. Cryptocurrency,Wire transfer. A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies. Coinbase Pro. Bitstamp Cryptocurrency Exchange. A global cryptocurrency exchange that facilitates crypto to fiat transactions, where you can use EUR or USD to buy bitcoin and popular altcoins.
Bittrex Digital Currency Exchange. Gemini Cryptocurrency Exchange. Bitit Cryptocurrency Marketplace. Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes. ShapeShift Cryptocurrency Exchange.
Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin. A decentralised cryptocurrency exchange where you can trade over ERC20 tokens. CoinBene Cryptocurrency Exchange.
Load More. Compare up to 4 providers Clear selection. What's in this guide? Where to sell Bitcoin in Canada A step-by-step guide to selling Bitcoin How to choose the best way to sell Bitcoin How to sell Bitcoin: what are my options? Withdrawing your funds after the sale When is the right time to sell Bitcoin?
Step 1. Step 2. Deposit Bitcoin into your account. Step 3. Sell Bitcoin. Step 4. Withdraw CAD. Initiating a withdrawal from your CoinSpot account CoinSpot. Register on an exchange that lists BTC. Remember to enable 2-factor authentication on your account before proceeding any further. Deposit BTC into your account. Sell BTC. Transfer your new cryptocurrency into a secure wallet. Selling to a cryptocurrency broker.
Why might you choose this option? Pros: Convenient, quick and easy, allows you to exchange BTC for fiat Cons: Transaction fees can sometimes be steep or the rates poor, ID verification process can cause delays. Selling through a cryptocurrency exchange market. If you want to set your own price and enjoy greater control over the sale process Pros: Could help you get a better price, provides you with more flexibility and control over the sale process Cons: Slower than using a broker, options may be limited for certain fiat currencies, can take longer if you want to ensure a good price.
Selling via a Bitcoin ATM. If you want a quick and easy way to turn your Bitcoin into cold, hard cash. Pros: Quick and easy, a fast way to cash out your Bitcoin when you need fiat currency Cons: Bitcoin ATMs particularly those that let you sell BTC can be difficult to find, and have high transaction fees. Selling peer to peer. PayPal Cash. How can I sell Bitcoin for cash? Alternatively, you could arrange to sell your Bitcoin through a peer-to-peer marketplace that accepts cash as a payment option, either meeting someone in person to accept payment or asking them to send a cash transfer through a payment service such as Western Union.
How can I spend my cryptocurrency with a Bitcoin debit card? Bitcoin debit cards are linked to your cryptocurrency balance. They allow you to load your card with BTC, which is then converted into CAD by the card provider so you can use it to buy goods and services in-store and online, or withdraw cash from an ATM. Can I pay my bills with Bitcoin? Yes, there are several companies that specialize in facilitating bill payments in cryptocurrency.
Check out our cryptocurrency bill payment services guide for more information. How can I sell Bitcoin using PayPal? You can sell Bitcoin through a peer-to-peer marketplace that accepts PayPal payments, such as LocalBitcoins or Paxful , or use an exchange like VirWox. How do I sell Bitcoin on Coinbase?
Coinbase only offers buy services to Canadian users. Can I sell Bitcoin for another crypto within my wallet? How should I set my price if selling Bitcoin on a peer-to-peer marketplace?
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks — they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service including its legal status and relevant regulatory requirements and consult the relevant Regulators' websites before making any decision.
Finder, or the author, may have holdings in the cryptocurrencies discussed. Daily cryptocurrency news digest and breaking news delivered to your inbox. Don't miss out! Follow Crypto Finder. Was this content helpful to you? Thank you for your feedback!
What is Power Ledger? A step-by-step guide to POWR. How to open an online brokerage account plus the best brokers for beginners Compare and choose stock trading accounts to start buying and selling Canadian and international stocks online. Investing in lithium stocks Lithium is a precious metal with increasing demand.
Daily Interest Chequing Account review Earn interest on the balance you hold in US dollars with this cross-border chequing account. Review: CoinSmart cryptocurrency exchange Learn more about the CoinSmart cryptocurrency exchange by reading the full review.
BMO U. Dollar Premium Rate Savings Account review Enjoy a decent return on interest for no monthly fees with this top-rated US dollar savings account.