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Best Canadian Crypto Exchanges Compared: (2026 Updated Guide)

Compare Canada's top crypto exchanges side by side. Honest breakdown of Netcoins, Bitbuy, Shakepay, Newton, NDAX, Wealthsimple, Kraken, and Coinbase for Canadian investors.
Written
August 12, 2025
in
Research

Disclaimer: This article is for educational and informational purposes only. It does not constitute financial, investment, or tax advice. Cryptocurrency is a volatile asset class, and you should do your own research and consult a qualified financial advisor before making any investment decisions. Exchange features, fees, and regulatory status can change at any time. Always verify current details directly on each platform's official website before opening an account or making a trade.

TL;DR

Canada has one of the most regulated crypto exchange markets in the world, and Canadian investors have strong options across the board. The "best" exchange depends entirely on what you prioritize: the lowest trading fees, the widest coin selection, the simplest user experience, staking rewards, or all-in-one financial integration. This guide compares eight of the most prominent platforms available to Canadians in 2026, including Netcoins, Bitbuy, Shakepay, Newton, NDAX, Wealthsimple Crypto, Kraken, and Coinbase. Each exchange is covered honestly, with both strengths and weaknesses, so you can make an informed decision based on your own needs rather than marketing claims.

Quick Picks by Use Case

Best for Beginners: Shakepay. Its mobile-first design, Bitcoin-focused simplicity, and 1.5 million+ user base make it the most accessible onramp for Canadians buying crypto for the first time [Source]. Wealthsimple Crypto is also excellent if you already use Wealthsimple for stocks and savings.

Best for Lowest Trading Fees: NDAX. A flat 0.2% fee on all trades with no maker/taker tiers and no hidden spreads makes NDAX the cheapest Canadian-built exchange for straightforward trading [Source]. Kraken Pro is competitive for high-volume traders, with maker fees as low as 0.16% [Source].

Best for Coin Selection: Kraken. With 390+ cryptocurrencies globally and 200+ available to Canadians, Kraken offers the deepest selection of any regulated exchange accessible in Canada [Source]. Coinbase also offers 200+ coins for Canadian users [Source].

Best All-in-One Platform: Wealthsimple Crypto. If you want stocks, ETFs, crypto, savings, and tax filing in a single app, Wealthsimple's 3 million+ user ecosystem is unmatched in Canada [Source].

Best for Advanced Traders: Kraken. Kraken Pro offers order books, advanced charting, limit/stop-loss orders, margin trading, and futures, with some of the deepest liquidity of any exchange [Source].

Best Canadian-Built Exchange: Netcoins. Founded in Vancouver in 2014, with a publicly traded Canadian parent company (BIGG Digital Assets, TSXV: BIGG), SOC 2 certification, free Interac e-Transfer deposits, and Canadian phone support [Source] [Source].

Best for Staking: Netcoins. Staking rewards up to 15% APR across multiple proof-of-stake assets, with straightforward in-app staking [Source]. NDAX also offers strong staking with 13 supported assets and daily reward distribution [Source].

Exchange Profiles

Netcoins

Overview: Netcoins is a Canadian-built crypto exchange founded in 2014 in Vancouver, British Columbia. Its parent company, BIGG Digital Assets, trades on the TSX Venture Exchange (TSXV: BIGG), providing public company transparency through quarterly financial disclosures [Source]. The platform serves 250,000+ registered users and has processed over $3.5 billion in lifetime trading volume [Source]. Netcoins is registered with FINTRAC as a Money Services Business and operates as a Restricted Dealer under Canadian securities regulation [Source].

Fees: Flat 0.5% trading fee on all trades with no maker/taker distinction [Source]. Interac e-Transfer deposits are free. Bank wire deposits above $3,000 CAD are free; wires at or below $3,000 carry a $30 fee [Source].

Coins: 60+ cryptocurrencies including BTC, ETH, SOL, DOT, ATOM, ADA, DOGE, SHIB, and XRP [Source].

Key Strengths:

  • SOC 2 Type 2 certified (August 2025), one of the few Canadian exchanges with this security audit [Source]
  • Dual custody model: Fireblocks (hot wallets) + BitGo (cold storage) [Source]
  • Staking up to 15% APR on ETH, SOL, ATOM, DOT, and others [Source]
  • OTC desk for trades over $25,000 and Private Wealth services for high-net-worth clients [Source]
  • Free Interac e-Transfer deposits with instant processing
  • Phone support with a Canadian-based team
  • Bitcoin ATM infrastructure services for operators across Canada [Source]
  • Publicly traded parent company provides additional financial transparency

Key Weaknesses:

  • Flat 0.5% fee is higher than NDAX (0.2%) and Kraken Pro maker rates (0.16-0.25%)
  • 60+ coins is adequate but smaller than Kraken (390+), Coinbase (200+), or Wealthsimple (100+)
  • Smaller user base (250K+) compared to Shakepay (1.5M+) and Wealthsimple (3M+)
  • No advanced order book or charting tools for active traders
  • CIRO membership still in progress (targeting 2026) [Source]

Best For: Canadian investors who value fee transparency, SOC 2-certified security, free Interac deposits, staking income, and the accountability of a publicly traded parent company. Also ideal for high-net-worth individuals who need OTC or Private Wealth services.

Trustpilot: 4.0 stars / 535+ reviews [Source] iOS App: 4.8 stars / 116 ratings [Source]

Bitbuy

Overview: Bitbuy launched in 2016 in Toronto and became one of the first registered crypto marketplaces in Canada. Its parent company, WonderFi, is in the process of being acquired by Robinhood Markets (NASDAQ: HOOD) for approximately C$250 million, a deal expected to close in the first half of 2026 [Source]. Bitbuy serves 375,000+ registered users and holds registrations with FINTRAC, the OSC, and CIRO [Source].

Fees: Express Trade charges a 0.2% commission plus spreads of 0.5-1.85% [Source]. Pro Trade offers approximately 0.1% maker / 0.2% taker [Source]. Interac e-Transfer deposits are free [Source].

Coins: 60+ cryptocurrencies [Source].

Key Strengths:

  • Bitbuy Pro offers some of the lowest fees among Canadian exchanges (0.1% maker / 0.2% taker)
  • Strong regulatory profile: FINTRAC + OSC registered + CIRO member dealer
  • 95%+ cold storage with BitGo custody, plus layered insurance coverage (BitGo's $680M policy + supplementary crime policy + CIPF on cash up to $1M) [Source]
  • Dual interface: Express Trade for beginners, Pro Trade for advanced users
  • Staking available with returns up to approximately 13.4% [Source]
  • Robinhood acquisition brings major capital and technology resources

Key Weaknesses:

  • Express Trade spreads (0.5-1.85%) make the effective cost higher than it appears for casual users
  • Robinhood acquisition delays have created uncertainty about the platform's future direction
  • Google Play rating is notably low at approximately 2.0 stars
  • Ownership transition means Bitbuy's "Canadian exchange" identity may evolve as Robinhood integrates

Best For: Active traders who want low Pro Trade fees (0.1%/0.2%) with an order book, and investors who value the strongest published insurance coverage among Canadian exchanges.

Trustpilot: 4.1 stars / 1,200+ reviews [Source] iOS App: 4.6 stars / 6,000+ ratings [Source]

Shakepay

Overview: Shakepay is a Montreal-based crypto platform founded in 2015 that has grown to 1.5 million+ users across Canada [Source]. Backed by a $44M Series A led by QED Investors [Source], Shakepay has positioned itself as a "Money App" rather than just a crypto exchange. It became a CIRO Investment Dealer Member in January 2025 and is the first crypto company to earn membership in Payments Canada [Source].

Fees: No explicit trading commission. Revenue comes from spreads estimated at 1.5-3% depending on market conditions [Source] [Source]. Interac e-Transfer deposits and crypto withdrawals are free (Shakepay covers blockchain network fees) [Source].

Coins: Bitcoin (BTC) and Ethereum (ETH) only for trading. USDC deposits accepted but auto-converted to USD [Source].

Key Strengths:

  • Largest user base of any Canadian-built crypto platform (1.5M+)
  • Best-in-class mobile app design, widely regarded as the most polished crypto experience in Canada
  • ShakingSats: shake your phone daily for free Bitcoin, building streaks for higher rewards [Source]
  • Shakepay Card: Visa prepaid card earning up to 2% bitcoin cashback [Source]
  • Bill payments, direct deposit, and peer e-Transfers within the app [Source]
  • CIPF coverage up to $1M on cash balances via CIRO membership
  • Free crypto withdrawals (Shakepay covers network fees)
  • 3% APY on USD balances [Source]

Key Weaknesses:

  • Only supports BTC and ETH for trading, so no altcoin investing
  • No staking for crypto assets
  • Spread-based pricing (1.5-3%) is among the highest effective costs for trading
  • No advanced trading tools (no limit orders, no order books, no charting)
  • Limited transparency around custody providers and cold storage percentages

Best For: Bitcoin-focused beginners who want the simplest, most polished mobile experience, plus everyday financial features like a cashback card and bill payments.

Trustpilot: 4.2 stars / 2,100+ reviews [Source]

Newton

Overview: Newton was founded in 2018 in Toronto and has built a reputation as a competitive, spread-based Canadian exchange with a focus on keeping costs low. The platform supports 70+ cryptocurrencies and is registered with FINTRAC and provincial securities regulators as a restricted dealer [Source]. Newton has raised $34.8M in funding, including a US$20M Series B that valued the company at approximately US$200M [Source].

Fees: No explicit commission. Spread-based pricing organized by asset tiers: Tier 1 (BTC, ETH, USDC) at 1.00-1.15%, Tier 2 (LTC, SOL, XLM) at 1.25-1.45%, Tier 3 (all others) at 1.50-1.60% [Source]. Free Interac e-Transfer deposits and withdrawals, plus a daily $5 subsidy covering crypto withdrawal network fees [Source].

Coins: 70+ cryptocurrencies [Source].

Key Strengths:

  • Broad coin selection (70+) for a Canadian-focused exchange
  • Free Interac e-Transfer deposits and withdrawals
  • $5 daily crypto withdrawal fee subsidy
  • Pre-authorized debit support for automated recurring purchases
  • Staking available on ETH, SOL, and other select assets [Source]
  • Actively investing in SEO and content, with a growing Learn section

Key Weaknesses:

  • Spread-based fees can be higher than they appear, especially for Tier 2 and Tier 3 coins (up to 1.60%)
  • No advanced trading interface or order book
  • Smaller user base and less brand recognition than Shakepay, Wealthsimple, or Bitbuy
  • Security details are less publicly documented compared to Netcoins' SOC 2 or Kraken's Proof of Reserves

Best For: Canadian investors who want a decent coin selection with no explicit commissions, free deposits and withdrawals, and automated recurring purchases through pre-authorized debit.

Trustpilot: 3.9-4.1 stars / 1,079+ reviews [Source]

NDAX

Overview: NDAX is a Calgary-based crypto exchange founded in 2018 that has carved out a niche as the lowest-fee Canadian exchange. The platform is registered with both FINTRAC and CIRO as an Investment Dealer and Marketplace since December 2024 [Source] [Source]. NDAX supports approximately 55-64 cryptocurrencies and operates one of Canada's largest home-grown staking platforms [Source].

Fees: Flat 0.2% on all buy and sell orders, with no maker/taker distinction or volume-based tiers [Source]. Interac e-Transfer deposits are free. Withdrawal fees vary by cryptocurrency [Source].

Coins: Approximately 55-64 cryptocurrencies [Source].

Key Strengths:

  • Lowest flat trading fee of any Canadian exchange at 0.2%
  • CIRO Investment Dealer member (completed December 2024), providing strong regulatory standing
  • Staking on 13 assets (the largest home-grown staking suite in Canada), with daily or weekly reward distribution [Source]
  • NHL partnership bringing broader brand awareness
  • Free Interac e-Transfer deposits

Key Weaknesses:

  • Withdrawal fees for fiat and crypto can offset trading fee savings (CAD withdrawal fees apply)
  • Smaller user base and less brand visibility compared to Shakepay, Wealthsimple, or Bitbuy
  • Staking APY rates are moderate after the 20% administration fee on rewards (e.g., ETH at ~3.3%, DOT at ~10.5%) [Source]
  • Less robust mobile app ratings compared to some competitors

Best For: Cost-conscious traders who prioritize the absolute lowest trading fees on a regulated Canadian platform, and investors who want access to a wide staking menu.

Trustpilot: 3.9 stars / 273+ reviews [Source] iOS App: 4.6 stars / 550+ ratings [Source]

Wealthsimple Crypto

Overview: Wealthsimple is Canada's largest fintech platform with 3 million+ users across stocks, ETFs, crypto, savings, and tax filing [Source]. The crypto product launched in 2020 and now supports 100+ coins. Wealthsimple is regulated by CIRO and registered with FINTRAC [Source]. The company was the subject of a Harvard Business School case study, reflecting its influence on Canadian fintech [Source].

Fees: Tiered, spread-based pricing. Trading fees vary by client tier: Core clients pay up to 2%, Premium clients pay 1%, and Generation clients pay 0.5%. Volume-based pricing can reduce fees further, with rates as low as 0.05% for high-volume traders [Source]. No fee on USDC trades in USD. A 1.5% FX fee applies when trading crypto in USD with CAD funds [Source].

Coins: 100+ cryptocurrencies (some sources report 140+) [Source].

Key Strengths:

  • Canada's only true all-in-one financial app: stocks, ETFs, crypto, savings accounts, and tax filing in one place
  • 3M+ users and massive brand trust among Canadian investors
  • 100+ supported cryptocurrencies, larger than most Canadian-built exchanges
  • Staking available for select coins (ETH, SOL, DOT, ADA) [Source]
  • Gemini Trust Company custody with $200M cold storage insurance [Source]
  • CIRO member, providing CIPF protection on cash balances
  • Volume-based fee reductions can bring costs down to 0.05%
  • Crypto withdrawals to external wallets available for select coins [Source]

Key Weaknesses:

  • Core tier fees (up to 2%) are among the highest in the Canadian market for casual crypto traders
  • Crypto is a secondary product within the broader investing platform, not the primary focus
  • Self-custody transfers are limited to select coins, not all listed assets
  • Not a crypto-specialist platform, so advanced crypto tools (OTC, API trading) are absent
  • Staking fee structure includes a percentage of staking rewards

Best For: Investors who already use (or want to use) Wealthsimple for stocks and ETFs and want the convenience of adding crypto to the same portfolio. Also suitable for high-volume traders who qualify for reduced fees.

iOS App: 4.7 stars / 121,000+ ratings [CITATION NEEDED: current Apple App Store data for Wealthsimple]

Kraken

Overview: Kraken is a global cryptocurrency exchange founded in 2011 in San Francisco. It is one of the oldest and largest exchanges in the world, serving 13 million+ users globally [Source]. Kraken registered as a Restricted Dealer in Canada in April 2025, making it fully regulated under the CSA framework [Source]. It is also FINTRAC-registered as an MSB [Source].

Fees: Kraken Pro uses a maker/taker model starting at 0.25% maker / 0.40% taker for under $50K in 30-day volume, decreasing with volume [Source]. Some sources indicate maker fees as low as 0.16% at certain tiers [Source]. The simple interface charges approximately 1% per trade. Kraken+ ($4.99/month) eliminates trading fees on up to $20,000 in monthly volume [Source]. As of 2025, Kraken moved toward free Interac e-Transfer deposits for Canadian users [Source].

Coins: 390+ globally, 200+ available to Canadian users [Source].

Key Strengths:

  • Largest regulated coin selection accessible to Canadians (200+)
  • Kraken Pro is a full-featured advanced trading platform with order books, charting, limit/stop-loss orders, margin, and futures [Source]
  • Quarterly Proof of Reserves audits, independently verified, confirming 1:1+ asset backing [Source]
  • 24/7 live chat support [Source]
  • Deep global liquidity and tight spreads on major trading pairs
  • Over 14 years of operation with no major security breaches [Source]
  • Staking on 20+ assets with no lockup periods on most [Source]

Key Weaknesses:

  • Not a Canadian company (US-based), so Canadian-specific features and support are secondary
  • Interac e-Transfer fees have historically been high (1.5%), though Kraken has been reducing them in 2025 [Source]
  • Trustpilot rating is lower than most Canadian competitors (common for high-volume global exchanges serving millions)
  • Simple interface fee (1%) is high for casual buyers
  • Margin and futures features may be restricted for Canadian residents due to provincial regulation

Best For: Experienced traders who want the deepest coin selection, advanced trading tools, and institutional-grade liquidity. Also strong for investors who want transparent Proof of Reserves audits.

Trustpilot: ~3.3 stars / 5,400+ reviews [Source] iOS App: 4.7 stars / 25,000+ ratings [Source]

Coinbase

Overview: Coinbase is the world's largest publicly traded crypto exchange (NASDAQ: COIN) with 100 million+ users globally [Source]. In April 2024, Coinbase became the first international crypto exchange to register as a Restricted Dealer in Canada through the CSA framework [Source]. It is FINTRAC-registered and regulated across all Canadian provinces and territories.

Fees: Simple buy/sell charges approximately 0.5% spread plus a service fee (1.49% for bank transfer, up to 3.99% for debit card) [Source]. Advanced Trade uses maker/taker starting at 0.60% maker / 1.20% taker for under $1K in monthly volume, decreasing with higher tiers [Source]. Coinbase One ($30 USD/month) eliminates trading fees (spread still applies) and includes boosted staking and priority support [Source].

Coins: 200+ cryptocurrencies (availability varies by region) [Source].

Key Strengths:

  • Massive global brand and one of the most recognized names in crypto worldwide
  • 200+ coins for Canadian users, covering major assets and many altcoins
  • NASDAQ-listed (COIN), providing public company financial transparency and audit requirements
  • Coinbase Wallet provides self-custody capabilities
  • Staking on ETH, SOL, ATOM, DOT, and others [Source]
  • Advanced Trade platform with order books and multiple order types
  • Coinbase One subscription can eliminate trading fees for active users

Key Weaknesses:

  • Fees are high for casual Canadian users. Simple buy/sell with bank transfer can cost approximately 2% all-in
  • Advanced Trade entry-level fees (0.60%/1.20%) are higher than most Canadian competitors for low-volume traders
  • Interac e-Transfer support has been reported as inconsistent, with name-matching issues and delays [Source]
  • 1% fee reported on some Interac withdrawals to Canadian bank accounts [Source]
  • Customer support relies primarily on email and chatbot; phone support is limited to account takeover cases [Source]
  • Trustpilot rating is notably low (~1.6 stars), though this reflects the global user base and is common among high-volume exchanges [CITATION NEEDED: verify current Coinbase Trustpilot score]

Best For: Investors who want access to a global crypto ecosystem, 200+ coins, the Coinbase Wallet for self-custody, and the familiarity of a NASDAQ-listed brand. Best suited for users who trade enough to justify the Coinbase One subscription.

Cheapest Crypto Exchange in Canada

Fee comparisons require looking beyond the advertised trading rate to calculate total cost, including deposit fees, spreads, and withdrawal fees. Here is how the eight exchanges stack up for a typical Canadian making a $1,000 CAD purchase of Bitcoin via Interac e-Transfer.

NDAX

  • Deposit fee: $0
  • Trading fee: 0.2% ($2.00)
  • Estimated total cost: ~$2.00
  • [Source]

Netcoins

  • Deposit fee: $0
  • Trading fee: 0.5% ($5.00)
  • Estimated total cost: ~$5.00
  • [Source]

Bitbuy Pro Trade

  • Deposit fee: $0
  • Trading fee: ~0.1-0.2% maker/taker ($1.00-$2.00)
  • Estimated total cost: ~$1.00-$2.00
  • [Source]

Bitbuy Express Trade

  • Deposit fee: $0
  • Trading fee: 0.2% commission + 0.5-1.85% spread ($7.00-$20.50)
  • Estimated total cost: ~$7.00-$20.50
  • [Source]

Newton

  • Deposit fee: $0
  • Spread: 1.00-1.15% for BTC ($10.00-$11.50)
  • Estimated total cost: ~$10.00-$11.50
  • [Source]

Shakepay

  • Deposit fee: $0
  • Spread: ~1.5-3% ($15.00-$30.00)
  • Estimated total cost: ~$15.00-$30.00
  • [Source]

Wealthsimple Crypto (Core tier)

  • Deposit fee: $0
  • Spread + fee: up to 2% ($20.00)
  • Estimated total cost: ~$20.00
  • [Source]

Kraken Pro

  • Deposit fee: Historically 1.5%, moving toward free in 2025 ($0-$15.00)
  • Trading fee: 0.25% maker / 0.40% taker ($2.50-$4.00)
  • Estimated total cost: ~$2.50-$19.00 (depending on deposit fee status)
  • [Source] [Source]

Coinbase Simple Buy

  • Deposit fee: Varies
  • Trading fee + spread + service fee: ~2% ($20.00)
  • Estimated total cost: ~$20.00
  • [Source]

The bottom line: For the lowest cost on a simple $1,000 BTC purchase, NDAX (flat 0.2%) and Bitbuy Pro (~0.1-0.2%) are the cheapest options. Netcoins (flat 0.5%) offers the best combination of low, transparent fees without requiring an advanced trading interface. Spread-based platforms like Shakepay, Newton, and Wealthsimple (Core) tend to be more expensive, particularly for larger trades.

Most Secure Crypto Exchange in Canada

Security is difficult to compare objectively because exchanges disclose different types of information. Here is what each platform makes publicly available.

Third-Party Security Audits

  • Netcoins: SOC 2 Type 2 certified (August 2025), one of the only Canadian exchanges to hold this certification [Source]
  • Kraken: Quarterly Proof of Reserves audits, independently verified using Merkle tree methodology [Source]
  • Bitbuy: Third-party proof-of-reserve audits [Source]

Custody Providers

  • Netcoins: Fireblocks (hot) + BitGo (cold) [Source]
  • Bitbuy: BitGo (95%+ cold storage) [Source]
  • Wealthsimple: Gemini Trust Company ($200M insurance) [Source]
  • Newton: Balance custody (formerly Coinbase Custody) [Source]
  • Kraken: In-house cold storage (95%+) [Source]
  • Coinbase: In-house (98% cold storage) [Source]

Insurance Coverage

  • Bitbuy: BitGo's $680M policy + supplementary crime policy + CIPF on cash [Source]
  • Wealthsimple: $200M cold storage insurance via Gemini + CIPF on cash [Source]
  • Shakepay: CIPF coverage on cash up to $1M (CIRO investment dealer member) [Source]

Breach History: None of the eight exchanges profiled here have experienced a major public security breach as of February 2026. Kraken's 14+ year track record without a breach is particularly notable.

The bottom line: There is no single "most secure" exchange. Netcoins leads in formal security certification (SOC 2 Type 2). Kraken leads in ongoing public reserve verification. Bitbuy and Wealthsimple lead in published insurance coverage. All eight platforms use cold storage and operate under Canadian regulatory oversight.

Best Crypto Exchange for Beginners in Canada

For new investors, the most important factors are simplicity, ease of funding, and a smooth onboarding process.

Shakepay is arguably the easiest entry point for complete beginners. The app is focused on Bitcoin and Ethereum, which removes the decision paralysis of choosing among hundreds of coins. The ShakingSats feature gamifies the experience, and the Shakepay Card makes crypto feel integrated into daily life. The 1.5 million+ user base validates the design at scale [Source].

Wealthsimple Crypto is the best option for beginners who also want traditional investing. If you are opening your first investment account, being able to buy ETFs, stocks, and crypto in one app simplifies your entire financial life [Source].

Netcoins offers a clean, simple interface with the advantage of transparent flat fees and a broader coin selection (60+) than Shakepay. It also provides phone support with a Canadian team, which can be reassuring for first-time investors who want to speak with a real person [Source].

Newton and NDAX are also beginner-friendly, though their interfaces are slightly less polished than Shakepay's. Kraken and Coinbase have beginner-friendly simple interfaces, but their fee structures are more complex and can result in higher costs for casual users.

Best Crypto Exchange for Staking in Canada

Staking allows you to earn passive rewards on proof-of-stake cryptocurrencies you hold. Here is how the platforms with staking compare.

Netcoins: Up to 15% APR, available on ETH, SOL, ATOM, DOT, and others. Straightforward in-app staking with clear bonding/unbonding periods [Source].

NDAX: Staking on 13 assets (the largest home-grown menu in Canada), with daily or weekly distribution. 20% administration fee on rewards reduces effective APY (e.g., ETH ~3.3%, DOT ~10.5%) [Source].

Bitbuy: Up to approximately 13.4% on select assets. Staked assets held at 1:1 ratio and not loaned out [Source].

Kraken: Staking on 20+ assets with no upfront staking fee, though a commission on rewards (typically 7.25%, up to 15% for ETH) applies. Both bonded and flexible options available [Source].

Wealthsimple: Staking on select coins (ETH, SOL, DOT, ADA). Fee charged as a percentage of staking rewards [Source].

Newton: Staking available on ETH, SOL, and select others [Source].

Coinbase: Staking on ETH (~2.15%), SOL, ATOM, DOT, and others. Coinbase One subscribers receive boosted staking rates [Source].

Shakepay: No crypto staking. Offers ShakingSats and 3% APY on USD balances instead.

The bottom line: Netcoins offers the highest advertised maximum APR (15% on ATOM) and a simple staking experience. NDAX has the widest staking menu (13 assets). Kraken offers the most flexibility with both bonded and flexible options. The actual yield you receive on any platform depends on the specific asset, network conditions, and any platform fees deducted from rewards.

How We Compared These Exchanges

This comparison was compiled using a combination of official exchange websites, regulatory filings, independent review platforms, and published third-party data. Every factual claim is cited with a source link where possible. Where data could not be independently verified, a citation-needed marker has been placed.

Factors evaluated include:

  • Fees: Both the stated fee and the effective all-in cost including spreads, deposit fees, and withdrawal fees. Where possible, we calculated the total cost of a representative $1,000 CAD Bitcoin purchase via Interac e-Transfer.
  • Coin selection: Number of supported cryptocurrencies as reported on each platform's official website or verified third-party sources.
  • Regulation: Verified registrations with FINTRAC, CIRO, provincial securities regulators, and any other relevant licensing bodies.
  • Security: Custody model, cold storage percentage, third-party audits (SOC 2, Proof of Reserves), insurance coverage, and breach history.
  • User experience: App store ratings, Trustpilot scores, interface design approach (beginner vs. advanced), and notable UX features.
  • Staking: Available assets, advertised APR/APY ranges, fee structures, and staking mechanics (bonded vs. flexible, distribution frequency).
  • Unique features: OTC desks, cards, loyalty programs, institutional services, and financial tools beyond basic trading.

This guide is updated periodically, but exchange features, fees, and regulatory status can change at any time. Always verify current details directly on each platform's official website.

Frequently Asked Questions

Which Canadian crypto exchange has the lowest fees?

NDAX charges a flat 0.2% on all trades, making it the lowest-fee Canadian-built exchange [Source]. Bitbuy Pro (0.1% maker / 0.2% taker) offers comparable or lower rates for traders using the advanced interface [Source]. Netcoins' flat 0.5% fee is competitive and simpler to understand. Spread-based platforms like Shakepay (1.5-3%), Newton (1.0-1.6%), and Wealthsimple Core (up to 2%) tend to cost more per trade, though they may offer perks like free crypto withdrawals.

Is crypto legal in Canada?

Yes. Cryptocurrency trading is fully legal in Canada. Exchanges operating in Canada must register with FINTRAC (for anti-money laundering compliance) and with provincial and territorial securities regulators through the CSA (Canadian Securities Administrators) framework. All eight exchanges in this guide are registered and regulated under Canadian law. Profits from cryptocurrency trading are subject to Canadian tax rules, either as capital gains or business income depending on your circumstances.

What is FINTRAC and why does it matter?

FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) is Canada's financial intelligence unit responsible for detecting and preventing money laundering and terrorist financing. Crypto exchanges operating in Canada must register with FINTRAC as Money Services Businesses, which requires them to implement Know Your Customer (KYC) procedures, report suspicious transactions, and maintain detailed records. FINTRAC registration is a baseline regulatory requirement, not an endorsement of any platform's quality or safety.

What is CIRO?

CIRO (Canadian Investment Regulatory Organization) is Canada's national self-regulatory organization for the investment industry, formed in 2023 from the merger of IIROC and the MFDA. Some crypto exchanges have obtained CIRO membership as investment dealers, which provides a higher level of regulatory oversight and enables CIPF (Canadian Investor Protection Fund) coverage on cash balances. As of early 2026, NDAX, Bitbuy, Shakepay, and Wealthsimple hold CIRO membership, while Netcoins is in the process of completing its membership application.

Can I buy Bitcoin with Interac e-Transfer in Canada?

Yes. All eight exchanges in this guide support Interac e-Transfer for CAD deposits. Netcoins, Bitbuy, Shakepay, Newton, NDAX, and Wealthsimple offer free Interac e-Transfer deposits. Kraken has been moving toward free Interac deposits as of 2025 (historically 1.5%). Coinbase supports Interac but some users have reported occasional issues with name matching and processing times.

Should I use a Canadian exchange or a global exchange?

Both have advantages. Canadian-built exchanges like Netcoins, Bitbuy, Shakepay, Newton, and NDAX are designed around Canadian banking (seamless Interac integration), Canadian support teams, and Canadian regulatory frameworks. Global exchanges like Kraken and Coinbase offer broader coin selection, advanced trading tools, and deeper liquidity, but may charge higher deposit fees for CAD and provide less Canada-specific customer service. Your best choice depends on whether you prioritize Canadian integration or global trading features.

Can I withdraw my crypto to my own wallet?

Yes, on most platforms. Netcoins, Bitbuy, Newton, NDAX, Kraken, Coinbase, and Shakepay all support withdrawing cryptocurrency to external wallets for self-custody. Wealthsimple supports crypto withdrawals for select coins, though not all listed assets can be transferred out [Source]. Shakepay uniquely covers the blockchain network fees on crypto withdrawals [Source].

Are my crypto holdings insured?

It depends on the platform and the type of asset. Cash (CAD) holdings are covered by CIPF (up to $1M per customer) on platforms that hold CIRO investment dealer membership, including Shakepay, NDAX, Bitbuy, and Wealthsimple. However, CIPF does not cover cryptocurrency holdings. Some platforms provide additional crypto insurance through their custody providers. For example, Bitbuy has BitGo's $680M policy plus its own crime policy [Source], and Wealthsimple has $200M in cold storage insurance via Gemini [Source]. No Canadian exchange provides full, bank-style deposit insurance on crypto assets.

How are crypto profits taxed in Canada?

The CRA (Canada Revenue Agency) treats cryptocurrency as a commodity. When you sell, trade, or otherwise dispose of crypto at a profit, the gain is generally taxable. Whether it is treated as a capital gain (50% inclusion rate) or business income (100% taxable) depends on factors like trading frequency, intention, and business-like conduct. Staking rewards are generally taxable as income at their fair market value when received. This guide does not constitute tax advice. Consult a qualified tax professional for guidance specific to your situation.

Which exchange is best for large purchases (over $25,000)?

For large trades, you want to minimize slippage and get personalized pricing. Netcoins' OTC desk is designed specifically for trades starting at $25,000+ CAD, with dedicated account management and custom pricing [Source]. Kraken also offers deep liquidity on its Pro platform that can handle large orders with minimal market impact. Bitbuy Pro's order book is another option for larger trades at low maker/taker rates.

Key Takeaways

  • There is no single "best" exchange. The right platform depends on your priorities: fees, coin selection, security, simplicity, staking, or all-in-one financial management.
  • For the lowest trading fees, look at NDAX (0.2% flat) or Bitbuy Pro (0.1%/0.2%). Netcoins (0.5% flat) offers the best balance of low, transparent fees without requiring an advanced trading interface.
  • For the widest coin selection, Kraken (200+ in Canada) and Coinbase (200+) lead. Among Canadian-built exchanges, Newton (70+) and Netcoins (60+) offer the broadest selections.
  • All eight exchanges are regulated under Canadian law. Every platform in this guide is registered with FINTRAC and/or provincial securities regulators. NDAX, Bitbuy, Shakepay, and Wealthsimple hold completed CIRO membership.
  • Security approaches vary but all are strong. Netcoins leads in formal security certification (SOC 2 Type 2). Kraken leads in public reserve verification. Bitbuy and Wealthsimple lead in published insurance coverage.
  • Staking is widely available. Netcoins (up to 15% APR), NDAX (13 assets), and Kraken (20+ assets) offer the most robust staking programs. Actual yields depend on the asset and network conditions.
  • Spread-based pricing is not always cheaper than flat fees. Platforms that advertise "no fees" (Shakepay, Newton) embed costs in the spread, which can exceed flat-fee platforms like Netcoins (0.5%) and NDAX (0.2%) on many trades.
  • Canadian-built exchanges excel at Interac integration. Netcoins, Bitbuy, Shakepay, Newton, and NDAX all offer free, seamless Interac e-Transfer deposits. Global exchanges like Kraken and Coinbase have historically charged fees or had inconsistencies with Interac.
  • For beginners, Shakepay and Wealthsimple offer the smoothest onboarding. For dedicated crypto investors, Netcoins and NDAX offer better value. For advanced traders, Kraken and Bitbuy Pro provide the most sophisticated tools.
  • Consider using more than one exchange. Many Canadian crypto investors maintain accounts on multiple platforms to take advantage of each one's strengths: one for low-fee trading, another for staking, and perhaps a third for accessing specific coins.

Sources

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About Netcoins

Established in 2014 in Vancouver, British Columbia, Netcoins is a registered Restricted Dealer with the provincial securities commissions and a registered Money Services Business (MSB) with FINTRAC. The platform operates under BIGG Digital Assets Inc., a publicly traded company listed on the TSX Venture Exchange (TSXV: BIGG), and complies with applicable public company regulatory requirements.

The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions. Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk. The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.

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Where to buy cryptocurrency in Canada and US?

Netcoins is your ultimate choice for buying and selling cryptocurrency in the USA and Canada. Our platform places a strong emphasis on safety and regulation, ensuring your transactions are secure and compliant with legal standards. We prioritize your peace of mind, providing an environment where your investments are safeguarded.

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