Home » Investing »
The article is checked by our editorial team, Which includes entrepreneurs who are painfully aware of how overwhelming and challenging it is to start a business for the first time.
All products recommended by Bizreport are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Best Overall
Visit Broker
Best for Advanced Traders
Visit Broker
Best for Fast Deposits
Visit Broker
There are plenty of cryptocurrency exchanges available for traders in Canada, most of which are accessible through your desktop browser. However, many crypto investors want the convenience of trading on the go, which is why mobile apps are becoming increasingly popular.
Popular crypto exchanges offer a mobile version of their crypto platform, but some of their best features may not be available. We’ve compiled an in-depth list to help you choose the best app for cryptocurrency in Canada. Let’s take a closer look!
Cryptocurrency apps are mobile applications that allow users to buy, sell, and store digital currencies. Crypto apps provide a convenient way for Canadian users to stay up-to-date with the latest market news, prices, and trends, allowing them to access their funds on the go.
A crypto exchange is a platform where users can buy, sell, and trade crypto assets. The top crypto trading platforms carry hundreds of different cryptocurrencies and allow you to swap them for other crypto assets or fiat currency (USD, CAD, EUR). Today, most crypto exchanges are regulated and must adhere to the laws of their respective countries.
A crypto trading platform is typically accessible through a web browser, but many also offer mobile apps for iOS and Android devices. These crypto apps often provide users the same functionality as the desktop version, allowing them to monitor their portfolios, view prices in real-time, and even set up automatic trades.
Read more: Best Crypto Exchanges In Canada 2022
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Visit Broker
Read Bitbuy Reviews
Bitbuy is one of the best crypto exchanges in Canada, and their mobile app offers a comprehensive list of features. It is widely known for its user-friendly interface, strong security measures, and excellent customer service. It is also the first Canadian crypto exchange to be regulated.
Bitbuy is an established crypto exchange with several legal entities backing it up. It is the first cryptocurrency exchange approved by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators. Moreover, it is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB).
This trustworthy crypto exchange gives access to a decent range of popular crypto assets, including BTC, ETH, USDC, ADA, and SOL. It stores 90% of users’ digital assets in cold storage, providing customers with an extra layer of security.
While Bitbuy charges higher 0% to 1.5% trading fees (both buy and sell), the crypto exchange adheres to complete transparency, meaning there are no hidden fees. What’s great is that you can enjoy free deposits on Interac e-transfers, wire transfers, and cryptocurrencies.
Visit Broker
Read Binance Reviews
Binance is a globally popular cryptocurrency exchange where you can find almost every cryptocurrency imaginable. It offers various trading options that advanced traders would enjoy, such as futures trading, margin trading, and peer-to-peer trading. The crypto app is also highly rated on both iOS and Android, making it an ideal choice for crypto trades on the go.
Binance is one of the largest crypto trading platforms in the world, so it’s no surprise that it’s a popular choice for Canadian crypto investors. With this crypto exchange, you can do more than just buy crypto and sell crypto. It allows spot trading, margin trading, P2P trading, and even futures, all of which you can enjoy on both the web app and mobile app.
The crypto exchange’s trading fees depend on various factors, but the platform provides a tiered fee structure for your guide. For spot trading, regular users can take advantage of low trading fees at 0.10%.
Binance also supports various payment channels, including credit cards, bank transfers, and wire transfers. However, one setback the platform has is that it won’t allow Canadian crypto traders to deposit Canadian dollars. Some of the fiat currencies it currently supports are USD, EUR, AUD, and HKD.
Visit Broker
Read Coinsmart Reviews
Coinsmart is another reliable crypto exchange in Canada available on mobile. What it lacks in its cryptocurrency offerings, it makes up for with convenience and speed. Those who want to get into crypto investing quickly will enjoy the instant account verification feature on this crypto trading platform.
Coinsmart only offers 16 digital assets, but they’re still one of the several exchanges in Canada that are registered with FINTRAC and OSC. This crypto app is ideal for new users who want to get into crypto trading immediately because it offers instant verification. You can access your funds the same day you make a deposit.
Unlike others, Coinsmart’s fees are straightforward. The transaction fees are 0.20% for a single trade and 0.30% for a double trade. There is also a 1% withdrawal for Interac e-transfer, bank wire, and EFT. It should be noted that fiat withdrawals typically take 1 to 5 business days to process.
The Coinsmart platform is highly secure, with a two-factor authentication process for account protection and 80% of users’ crypto investments stored in cold storage wallets. It enforces KYC verification, which is a compliance requirement by OSC. If there are any concerns, users can access Coinsmart’s 24/7 support through email, live chat, and phone.
Visit Broker
Read Wealthsimple Crypto Review
Wealthsimple Crypto is a mobile-first crypto trading platform in Canada. It’s a subsidiary of Wealthsimple, one of the largest online investment platforms in the country. The app makes it easy to buy, sell and hold cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more on your phone or tablet.
The best part about this app is its simplicity – users can get started with just $1 and gain access to features like instant deposits using Interac e-transfer or bill payment from their bank account. Unlike most other exchanges, you don’t need to go through an extensive KYC process before accessing the platform.
Wealthsimple Crypto also stands out for offering easy-to-follow trading fees, with no hidden charges or commissions. It offers a 1.5% to 2% trading fee for buying and selling crypto, and zero deposit and withdrawal fees.
Visit Broker
Read Coinbase Reviews
Coinbase is a US-based crypto exchange available in Canada. It is one of the oldest and most reliable exchanges, with a strong track record for security. Coinbase supports many cryptocurrencies and offers various features, such as recurring buys and instant purchases.
Coinbase boasts features suitable for both beginners and advanced traders. The main platform keeps trading simple, while Coinbase Pro provides more advanced trading tools, such as margin trading and limit orders. Coinbase also has a mobile version available for iOS and Android users, which is excellent for on-the-go trades.
The platform’s earning potential and staking services are decent, as users can enjoy a maximum of 5.75% APY on crypto holdings. There are also learning rewards available for those who want to know more about crypto trading.
Although the crypto app doesn’t support fiat deposits in CAD, it does provide FDIC insurance on USD balances. Its other security measures include two-factor authentication and a secure vault to store your crypto assets.
Visit Broker
Read Kraken Reviews
Kraken is perhaps the best crypto trading platform to trade Bitcoin in Canada, although it also offers 185+ more crypto assets. Additionally, it has been considered by many to be the cheapest crypto exchange due to its low trading fees. Like Coinbase, this crypto app in Canada offers platforms for both new and seasoned traders.
The trading fees on Kraken are considered low, ranging from 0% to 0.26% per trade. Trading has been simplified to cater to beginners, but the app also provides access to advanced features such as margin trading, spot trading, over-the-counter (OTC) services, futures contracts for crypto assets, and staking options.
Kraken users can use several payment methods to fund their accounts, including Interac e-Transfers, bank wire transfer, and debit/credit cards. It is also known for its excellent customer support service with 24/7 live chat support. Kraken is registered with FINTRAC as an MSB and provides users with additional security measures such as two-factor authentication (2FA) and cold storage.
Visit Broker
Read NDAX Reviews
NDAX may be relatively new to the crypto space, but it has quickly become one of the best crypto exchanges in Canada. It is a regulated trading platform and provides access to several popular digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, Dash, and more. It also provides generous earning opportunities through staking and referrals.
NDAX’s mobile app has an intuitive user interface which makes it easy to navigate and buy/sell cryptocurrencies. The app offers advanced charting tools that can be used to analyze price movements over time.
Staking is one of the best ways to earn passive income, and NDAX’s app makes it easy to do so. You can easily stake your favorite crypto assets on the go without any hassle. You can also get a commission from referrals and earn up to $1,000 per referral.
Visit Broker
Read Coinberry Reviews
Coinberry is the best Canadian crypto exchange when it comes to security and regulations. Aside from approvals from government entities, this Canadian crypto trading platform is also powered by Gemini — one of the most secure and reliable crypto exchanges in North America.
Coinberry is registered with both OSC and FINTRAC and is in full compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA). The crypto platform also has a strong security system which includes multi-factor authentication, encryption, and secure cold storage.
Coinberry supports deposits in CAD through bank transfer or Interac e-transfer. Meanwhile, you can use credit cards to buy cryptocurrencies directly from Coinberry’s website. Withdrawals and deposits, including crypto deposits, are totally free, which make up for Coinberry’s relatively high 2.5% spread.
Visit Broker
Read Newton Reviews
Newton is a widely known Canadian cryptocurrency exchange for offering altcoins not available on other exchanges. It also bills itself as a no-fee exchange in Canada. While relatively young, Newton has earned its place as one of the best crypto apps around.
This crypto exchange Canada offers a selection of 70+ cryptocurrencies, including rare altcoins like UMA and Hedera. It does not charge commission on trades but rather on spreads. The good news is there are no additional fees for fiat and crypto withdrawals and deposits. Not only can you withdraw crypto for free, but the cryptocurrency exchange also covers mining costs up to $5.
Newton is also one of the most recommended crypto apps in Canada for beginners because of its aesthetically pleasing and easy-to-navigate app. The user interface is intuitive, and the support team offers timely customer service.
Visit Broker
Read Crypto.com Reviews
Crypto.com is one of the biggest crypto trading platforms in the world and is our pick for the best crypto exchange for fiat currencies supported. It offers a wide array of services and features, such as crypto trading, staking, payment cards, and more.
The Crypto.com mobile app is available for both Android and iOS devices. It allows users to quickly buy and sell cryptocurrencies using their credit or debit cards with just a few taps on the screen. The app also supports more than 20+ different fiat currencies from around the world, which makes it suitable for Canadian traders too.
Crypto.com has low fees compared to most other cryptocurrency exchanges in Canada – 0% to 0.4% maker fee and 0.16 to 0.10% taker fee depending on your 30-day trading volume (the higher the volume, the lower the fee). Crypto withdrawal fees vary, but all deposits are free.
When choosing a crypto trading app, consider the following factors:
The best crypto app in Canada is one that meets your needs and provides the features that cater to you. We’ve done our best to provide an overview of what each platform offers, but ultimately it’s up to you to decide which app is right for you. Our top pick for the best crypto exchange in Canada is Bitbuy for its security features, ease of use, and good customer service.
??Our pick for the best crypto app in Canada is Bitbuy. It is one of the most trusted and reliable crypto exchanges in Canada, offering a wide range of features and strong security. Plus, it has been approved by various regulatory bodies.
A crypto wallet is a digital wallet that allows users to store, send and receive cryptocurrencies. It functions like a traditional bank account but without the middleman. Some crypto exchanges offer built-in wallets, while others allow users to connect an external wallet.
The CIPF is an industry-funded program that provides protection to investors in the event of insolvency or bankruptcy of a registered investment firm. CIPF coverage applies to most investments, including stocks, bonds, mutual funds, and other securities held by customers at a participating member firm. CIPF has yet to provide coverage to cryptocurrency holdings.
The Ontario Securities Commission (OSC) is an independent regulatory agency that oversees and regulates the securities industry in Ontario. It is responsible for enforcing Ontario’s securities laws, which aim to protect investors from financial harm and ensure fair market conditions. Some of the best crypto exchanges are approved by the OSC.
It is another name for cryptocurrency, a digital asset that can be used as an alternative form of payment. It uses cryptography to secure and verify transactions and control the creation of new units. Popular examples include Bitcoin, Ethereum, Dogecoin, and Litecoin.
It is a cryptocurrency created as a hard fork of Bitcoin. It was launched in 2017, and its main goal is to increase the number of transactions that can be processed on the Bitcoin blockchain. Its unique features include low fees, fast transaction speeds, and high security.
Cold storage is a secure way of storing cryptocurrencies offline. It is often referred to as “deep cold” and involves storing the private keys on an air-gapped computer that isn’t connected to the internet. This provides an extra layer of security for crypto users, protecting their assets from online threats.
Bizreport Advisor adheres to strict editorial integrity standards avoids using tertiary references. We have strict sourcing guidelines and rely on peer-reviewed studies, academic research. To ensure the accuracy of articles in Bizreport, you can read more about the editorial process here.
