The best cryptocurrency brokers in Canada. As another year unfolds, cryptocurrency’s waves (bannered by Bitcoin) are getting bigger and pushing the shoreline of the financial markets even farther, reaching whopping trading figures. Here you see the best Bitcoin brokers for Canadian citizens at a glance. On those platforms your are welcome to trade Bitcoin from Canada. Unfortunately, for legal reasons the province of Québec is usually excluded from Bitcoin margin brokers. Canadian Imperial Bank of Commerce. One more bank with a long history was founded in and its headquarters are located in Toronto. This bank used to offer its clients crypto trading experience but it has blocked credit card purchases and even closes clients’ .
Best canadian bitcoin broker14 Best Bitcoin Brokers (List and Review ) - Cryptalker
These would certainly be of interest to advanced traders. The problem so far with NDAX is that not many people are using the exchange. Until the NDAX volume picks up, traders will have difficulty fully taking advantage of the advanced features available. Coinfield is another relatively new exchange in the Canadian cryptocurrency space, having just launched in February Coinfield recently added another 61 countries other than Canada, so their focus has switched to be more of an international XRP based option, rather than an exchange for Canadians.
For the most part, Coinfield has built a good reputation online but some users have complained that withdrawal fees are too high. Coinfield has done a good job by bringing a platform to market that is worthy of professional traders. It has a few key features that makes it become one of our top recommendations. The fee schedule seems to be one of the lowest providers in the country.
VirgoCX also enables customers to purchase small to medium amounts of cryptocurrency at no price slippage. VirgoCX has most top coins trading pairs and all of them seem to have competitive pricing. It has an automatic KYC verification process which only needs some basic information to be inputted. Users typically get verified fairly quickly. It has multiple payment methods such as E-Transfer and wire transfer, allowing customers to fund accounts or withdraw funds as quickly as within 30 mins.
Traders get same-day settlement and large volumes can be filled with competitive pricing. OTC desk coverage is pretty extensive to accommodate weekday and weekend needs. Picking the ideal Canadian crypto exchange platform for your specific needs may be a difficult and time-consuming process.
Remember to pay attention to the fees, reputation, security, verification processes. Remember that you are not limited to using only one cryptocurrency exchange. Hopefully, the information provided will assist you in deciding which exchange platform to use. Back to Articles. By Blockgeeks. Yes, there are a lot of options, but there are also a lot of factors to consider when choosing which platform.
Tweet Share Like what you read? Hungry for knowledge? Join Blockgeeks. The platform is registered with the American financial regulator FinCEN and complies with its policies. On the other hand, decentralized exchanges simply connect buyers and sellers through the use of blockchain technology and let them carry out the deal themselves. Instead of escrow services, here, the parties are involved in smart contracts or atomic swaps. The irreversible and impenetrable nature of the technology itself makes them even more secure than centralized exchanges.
Other well-known decentralized exchanges that we recommend are the Ethereum-based Ox and Airswap protocols. Their target cryptos are the ERC tokens. The best cryptocurrency exchange in Canada is Bitbuy. You can choose to pay via Interac eTransfer, Flexpin voucher, or bank wire. Bitbuy has some of the most competitive fees in the industry.
The Cryptohead team has done extensive research on the security level of each one of the popular Canadian crypto exchanges. Both Bitbuy and NDAX separate customer funds from operational funds and keep the majority of them in cold storage. In recent years, Canada has become more crypto-friendly and continues to find new ways to include blockchain technology across various industries.
Moreover, the country is even looking into the benefits of issuing its own digital currency. Cryptocurrency exchanges are the best platforms for buying crypto in Canada. You can choose a fiat to crypto exchange if you plan on buying cryptos with fiat currencies. Based on the current demand and the potential for future growth, the Cryptohead team believes that the best cryptocurrencies to invest in are Bitcoin, Litecoin, and Ripple.
Bitcoin has always had the highest investment value among cryptos. Its reputation as the most popular coin has made sure Bitcoin enjoys high liquidity and trading volumes which brings even more traders to the Bitcoin market. Litecoin is an affordable cryptocurrency with enormous potential.
Ripple is the third cryptocurrency by market capitalization. Its network and underlying technology have brought groundbreaking solutions to the way we make cross-border payments. Coinbase has never been hacked which comes as no surprise when you learn about its state-of-the-art security measures.
The company secures all sensitive data personal information, wallet addresses, and private keys with AES SSL encryption. Coinbase applies its own digital coin framework on new cryptocurrencies.
Users are advised to activate the 2FA method, withdrawal address whitelist, and use the secure Coinbase vault for their funds. Bitbuy charges reasonable fees as well, from 0. Bitbuy is the most trusted and respectable Bitcoin exchange in Canada. The platform decided to focus solely on the Canadian crypto market so its trading volumes all come from local traders. What makes Bitbuy the number one Bitcoin marketplace is the range of payment methods that appeal to a versatile clientele.
Binance and Coinbase are the two largest cryptocurrency exchanges based on daily trading volumes. Both platforms support the most popular cryptocurrencies but only Binance includes lesser-known altcoins to its list.
James is the main editor. With a passion for finance and anything blockchain, cryptocurrency is right up his alley. He's responsible for most of the content on the site, trying his best to keep everything up to date and as informative as possible.
Last Updated on December 9, There are a large number of Cryptocurrency exchanges popping up these days, so which should you be using? Our rating is based on factors such as ease of use, fees, trading features and support. Featured On. James Crypto Head. Canada Cryptocurrency Exchange Reviews As a bonus, they even offer merchants a way to accept crypto for purchases with Coinberry Pay.
NDAX 3. Binance Exchange 3. Coinsmart Exchange 3. Shakepay 2. BitTrex Exchange 2. What Are Cryptocurrency Exchanges? Here is a little insight: Peer to Peer vs Traditional Peer to peer and traditional are two different types of currency exchanges you might encounter during your search for the right exchanges in Canada. Features to Look Out for When Choosing an Exchange 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.
The Cheapest Cryptocurrency Exchanges The cheapest crypto exchange is not always the one with the lowest transaction fees. The Largest Cryptocurrency Exchanges The way in which researchers estimate whether an exchange is large enough or not is by taking into account its trading volume. The Most Popular Cryptocurrency Exchanges Typically, the largest cryptocurrency exchanges are the most popular ones as well.
The Best Cryptocurrency Trading Platforms How do we distinguish between a regular crypto exchange and a sophisticated trading platform? The Safest Cryptocurrency Exchanges The safest cryptocurrency exchanges are the ones that invest in both platform and account security. Frequently Asked Questions. Which Crypto Exchange Is Best? What Are the Safest Cryptocurrency Exchanges? Is Cryptocurrency Trading Legal in Canada? What Is the Best Cryptocurrency to Invest in ?
Has Coinbase Been Hacked? What is the Most Trusted Bitcoin Exchange? Is Binance Better Than Coinbase? Is Coinbase Legal in Canada? Canada CAD. Bitbuy Review. CoinBerry Review. Bitcoin Ethereum Ripple 4 others. NDAX Review. China Only Crypto. Binance Review. Bitcoin Ethereum Ripple 7 others. Coinsmart Review. MyBTC Review. Kraken Review. The service also offers an easy-to-use leverage calculator for more accurate conclusions.
BaseFEX is a broker for trading derivatives such as Bitcoin futures, for example. The team of this company is located in Hong Kong, though it is registered on the Seychelles. All the trading pairs can be found lower next to multiple charts which can be helpful for traders. Being one of the popular Bitcoin brokers with low fees, the last one is considered to be a difference between the taker and maker fees.
There are no deposit and withdrawal fees too. Users of the platform will appreciate the Trade dashboard as well as over 50 different indicators to come in handy to them. There are 11 contracts offered and each of them is described in the smallest details for user comfort. The broker website can be accessed from the web or mobile app developed for this purpose.
It aims as traders of Asian countries predominantly, but the platform is being translated in several languages including not only English, Japanese, Chinese, Korean but also Russian, Turkish, Vietnamese and Portuguese to increase the number of users from other countries. Both experts and newbies can access this trading platform since in addition to multiple professional tools and indicators, there is a demo mode to learn trading. Despite not taking trading fees, there are funding fees for open positions taking place within equal intervals of time — every 8 hours.
One more way of earnings for a broker is a spread, the difference between the bid and ask prices. Originally, it was the only way of trading, but now users can choose between a spread and a fee for every position opened. Withdrawals are free but require ID verification. The broker supports trades of 9 crypto pairs in the form of perpetual contracts. It has added several new features since the release too.
In addition to a Stop Loss feature and advanced charting, the trading service also offers simple charting, intuitive interface which gets responsive on mobile devices, trade confirmation feature that offers to learn the details of the trading position, etc. One more great feature is two different margin allocation modes including Isolated Margin or Cross Margin for better risk management of traders. In addition to earning on trading, there is an affiliate program rewarding users who attract new traders.
If there are any questions, a trader can turn to live chat support pressing the button at the bottom on the right, while more email alerts will provide explanations about your account when it requires special attention. DeriBit is a broker platform to trade Bitcoin and Ethereum options and futures operating since It features an ultra-fast trade matching engine with less than 1MS Latency.
Other important features of this broker are real-time auditing, liquidation, and risk management. The broker operates a maker-taker fee model.
The fee is calculated as a percentage of the underlying asset of the contract. Deposits are free and require only 1 confirmation on the network.
Withdrawals can be instant or take some time to be completed, there is also a small fee which depends on the current state of the Bitcoin network. Fiat currencies are not supported while both deposits and withdrawals are processed only in Bitcoin. Nowadays, users of over countries trade on the platform. The broker offers 10BTC of virtual funds for every trader to try the platform in a demo version. To start trading it is enough to register an account and make a deposit.
Bit Seven is a broker that offers a high profit with low investment. This is a Bitcoin platform which offers leverage for Bitcoin, Ethereum, Litecoin, and Ripple trading. Over 1. To register on the platform, it is enough to provide a name and an email as well as a mobile phone to set the 2-factor authentication. The next step is to fund an account sending Bitcoin to it — other payment methods are not supported. Since the platform supports three more coins, it is possible to exchange Bitcoin for any of them after depositing.
The same should be done to withdraw earnings received, there is also a network fee of 0. The maximum daily withdrawal is 10 BTC. It is also possible to set auto-sell rules to maximize profit and minimize losses. To exchange coins it is necessary to pay a flat fee of 0. Trading fees depend on the coin chosen: 0. Since the number of Bitcoin brokers is growing incessantly, it is important to understand how to choose the best platform for trading cryptocurrency.
One of the first factors evaluated by traders nowadays is fees, of course, but it is not the only thing to consider selecting a broker. Therefore several more features to pay attention to. There are countries where crypto trading is prohibited or restricted because of some reasons, that is why it is important to check if a broker is eligible to operate in the country you live in. It is important to ensure that there is enough order book volume and traders to satisfy your orders before registering on the website.
A transparent broker platform will audit information regularly and provide information about its cold storage regularly. Not all payment methods used for depositing money are suitable for withdrawal too. Moreover, each platform has its daily limits both on depositing and withdrawals. The last ones can be also paid additionally. Every crypto holder demands improved security level to store the assets, so the cold storage supported by BitFinex is a great idea.