Last updated Jul. 15, 2024 by Peter Jakes
Cryptocurrency trading has become a burgeoning field with a wide array of platforms and applications facilitating trade. For Canadians looking to navigate this market, selecting the right trading app or exchange is critical for security, ease of use, and overall experience. Below, we outline the 30 best crypto trading apps and exchanges available in Canada for 2023, wrapping up with a FAQs section to answer common questions.
1. Binance
Binance is one of the largest and most versatile cryptocurrency exchanges globally. It offers a wide range of crypto assets, comprehensive charting tools, and various trading options, including spot, margin, and futures trading.
2. Coinbase
Coinbase is renowned for its user-friendly interface, robust security measures, and comprehensive educational resources. It is an excellent option for beginners looking to ease into crypto trading.
3. Kraken
Kraken is highly regarded for its security features and low transaction fees. Offering an extensive range of cryptocurrencies, it is another excellent choice for both beginners and advanced traders.
4. Bitbuy
Bitbuy is a Canadian exchange known for its transparency and reliability. It offers a simple interface, competitive fees, and excellent customer support, making it ideal for local traders.
5. Coinberry
Coinberry is another Canadian favorite due to its straightforward interface and zero deposit fees. It allows trading in a variety of crypto assets and integrates well with Canadian banking systems.
6. Shakepay
Shakepay offers a quick and easy way to buy and sell Bitcoin and Ethereum. Its mobile app is particularly user-friendly and allows instant purchases.
✓ Short Answer
Due to its versatility and robust features, Binance continues to be a top choice among Canadians despite regulatory challenges. Coinbase stands out for its user-friendly platform and educational resources, while local options like Bitbuy and Coinberry ensure seamless integration with the Canadian financial system.
7. Wealthsimple Crypto
Wealthsimple Crypto is a part of the popular Wealthsimple brand, offering an easy way to invest in cryptocurrencies. It’s perfect for Canadians who are already using Wealthsimple’s other financial services.
8. Coinsquare
Coinsquare is one of Canada’s oldest and most respected exchanges. It supports multiple cryptocurrencies and offers advanced trading tools for more experienced users.
9. Newton
Newton is a highly accessible mobile-first platform that offers commission-free trading. It supports an extensive range of cryptocurrencies and features a straightforward interface.
10. NDAX
The National Digital Asset Exchange (NDAX) caters specifically to Canadian traders. It offers a wide selection of cryptocurrencies, competitive fees, and a user-friendly interface.
11. Netcoins
Netcoins provides a simple way to trade Bitcoin and other cryptocurrencies. It features zero funding fees and free cash withdrawals, making it a cost-effective option.
12. Crypto.com
Crypto.com offers a comprehensive range of services, including trading, staking, and a crypto credit card. Its user-friendly app supports a wide array of cryptocurrencies.
13. Gemini
Gemini is known for its regulatory compliance and robust security protocols. It offers an intuitive platform suitable for both beginners and experienced traders.
14. BlockFi
BlockFi blends the concepts of a traditional financial institution with cryptocurrency trading. Users can trade crypto, earn interest on holdings, and take out crypto-backed loans.
15. Paxful
Paxful is a peer-to-peer (P2P) cryptocurrency exchange that offers a wide variety of payment methods. It is an excellent option for users looking to trade directly with others.
16. KuCoin
KuCoin provides a wide range of coins and a variety of services, including spot, margin, and futures trading, lending, and staking. It is a feature-rich platform catering to advanced traders.
17. Huobi
Huobi is known for its extensive range of trading pairs and advanced trading features. It offers various products, including spot trading, derivatives, and staking options.
18. OKEx
OKEx is another global exchange with a wide array of cryptocurrencies and trading options. It’s ideal for users who want access to a broad market with various trading tools.
19. Bybit
Bybit focuses mainly on derivatives trading. It offers a wide range of features suitable for professional traders, including advanced charting tools and high leverage options.
20. Bittrex
Bittrex offers a comprehensive platform with robust security features and a wide range of trading options. It supports a vast list of cryptocurrencies, making it a versatile choice.
21. Bitfinex
Bitfinex is one of the oldest cryptocurrency exchanges and offers advanced trading options. It’s best suited for experienced traders who need a wide range of trading pairs and tools.
22. Poloniex
Poloniex provides a robust array of trading pairs and features. It supports margin trading and lending, making it suitable for users looking for more advanced trading capabilities.
23. Gate.io
Gate.io offers a wide range of cryptocurrencies and trading options, including margin and futures trading. Its diverse list of supported coins makes it a compelling choice for enthusiasts.
24. CryptoExchange.com
CryptoExchange.com offers zero commission trading and supports a vast range of cryptocurrencies. Its user-friendly platform and competitive fees make it an attractive choice for Canadian traders.
25. BTC Markets
BTC Markets is an Australian-based exchange but offers services to Canadians. It provides a wide range of features and a high degree of security for its users.
26. Matrixport
Matrixport combines the advantages of both a traditional financial institution and a cryptocurrency trading platform. It offers lending, trading, and investment products.
27. Luno
Luno is a global exchange known for its user-friendly interface and educational materials. It supports a broad range of cryptocurrencies and offers various trading features.
28. StormGain
StormGain offers an all-in-one platform for both beginners and advanced users. It features trading, earning, and educational components tailored to the needs of different users.
29. eToro
eToro is a social trading platform that allows users to mimic the trades of successful traders. It’s an excellent option for those looking to learn from others and engage in a community.
30. Swan Bitcoin
Swan Bitcoin specializes in Bitcoin investments. It’s ideal for users who want to focus solely on Bitcoin without the distraction of other cryptocurrencies.
FAQs
1. What should I consider when choosing a crypto trading app or exchange?
Consider factors such as security, fees, ease of use, available cryptocurrencies, and customer support.
2. Are these trading apps and exchanges safe to use?
Most platforms listed offer robust security measures, including two-factor authentication, cold storage, and insurance coverage. However, always do your own research.
3. Can I trade all types of cryptocurrencies on these platforms?
Not all platforms support every cryptocurrency. Some are more versatile than others. Ensure the platform supports the assets you want to trade.
4. Do these platforms offer customer support?
Yes, most of these platforms provide customer support through various channels such as email, chat, and phone.
5. Are there any fees associated with these exchanges?
Yes, different platforms have different fee structures, which may include trading fees, withdrawal fees, and deposit fees. Be sure to check the fee schedule before trading.
6. Can I use these apps on my mobile device?
Most of the platforms mentioned offer both mobile and desktop versions, making it easy to trade on the go.
7. Do I need to verify my identity?
Most exchanges require some form of identity verification for KYC (Know Your Customer) compliance.
8. Are there any tax implications for trading cryptocurrencies in Canada?
Yes, cryptocurrency transactions may be subject to capital gains tax in Canada. Consult a tax professional for detailed advice.
By evaluating these factors and exploring these 30 trading platforms, Canadian traders can make informed decisions to effectively manage and expand their cryptocurrency portfolios in 2023.
