Kraken places a high priority on security with advanced measures such as two-factor authentication and encryption techniques to protect user assets. Kraken also provides options for margin and futures trading, allowing users to leverage their positions for potentially higher returns. The platform supports Ethereum staking, enabling users to earn rewards by locking up their tokens. This broad selection allows users to explore numerous investment opportunities and effectively manage their crypto holdings. Beginners can access a simplified trading view, while advanced users enjoy spot, margin, and futures trading with up to 125× leverage and a lightning-fast matching engine capable of 10 million transactions per second.
Preferred by those aiming to hedge risks or speculate on future market trends, these platforms often offer high leverage but also come with considerable risk. While P2P platforms enhance user control over transactions, they also necessitate a higher degree of trust between trade partners. Centralized exchanges are the most common type of cryptocurrency exchanges in Canada.
What are the types of crypto exchanges available in Canada?
Many brokers allow you to start with any amount, making cryptocurrency accessible at all budget levels. What is the minimum amount I need to start cryptocurrency trading in Canada? For example, some provinces restrict margin trading or derivatives cryptocurrency broker canada trading of cryptocurrency. Are there regional restrictions for cryptocurrency trading in Canada? If you trade cryptocurrency frequently as a primary business activity, the CRA may classify 100% of your income as business income.
This guide delves into the top exchanges in Canada, including Coinbase, BTCC, ChangeNOW, Kraken, and Bitget, each offering unique features and robust security measures that cater to the specific needs of Canadian users. When it comes to brokers, this means having access to a typically modest yet sufficient number of cryptocurrency CFDs, and if you enjoy trading other products, you might also look at its other market options like forex, commodities, and the like. For professional traders, cryptocurrency trading results in business income and is thus taxed at a rate of 100%. Also, the Canadian Investment Regulatory Organization (CIRO) recently excluded cryptocurrency exchange-traded funds (ETFs) from using reduced margin, which translates into lower leverage ratios available for this group of financial instruments. As is the case with other types of trading, the trading of cryptocurrencies is taxed, and on its website, the Canadian government offers comprehensive information regarding how crypto traders should file their taxes.
Exchanging crypto for goods and services, therefore, is considered a gain or loss and is taxed accordingly. Earlier, we noted that according to Canadian law, crypto does not fall under the designation of legal tender. Crypto may be taxed in two main ways, depending on the status of the trader and whether their profits count as capital gains or business income. Apart from the above, other types of fees include deposit costs, charges attached to withdrawals, and transaction fees (also known as gas fees).
Hardware wallets, such as those provided by Ledger and Trezor, are favored for their offline storage capabilities, safeguarding digital assets from online threats. In Canada, Bitcoin investors have a variety of wallet options to choose from for storing their digital assets. Although trading options can be intricate and risky, for experienced investors, they represent a vital part of the trading toolkit.
Coinbase
Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. ETFs are subject to market fluctuation and the risks of their underlying investments. Invest in crypto like bitcoin and ethereum in a traditional, rollover, or Roth IRA. From bitcoin mining in 2014, to our first crypto service in 2018, Fidelity Digital Assets®, we learned by staying on the leading edge of crypto.
Best crypto trading platform for self custody: Paybis
- The former tends to be lower than the latter as market makers add liquidity to the market.
- Additionally, Coinbase is one of the few exchanges that is publicly traded, further enhancing its credibility and transparency.
- After buying bitcoin from an exchange, it’s important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin.
- ETFs are subject to management fees and other expenses.
These audits verify the total amount of cryptocurrency held by Kraken. The platform provides cryptography-verified proof of reserve audits. Headquartered in San Francisco, California, the platform offers both an all-in-one exchange and a wallet, making it one of the easiest starting points with Bitcoin. ShakePay is a mobile crypto exchange and peer-to-peer wallet that is only available in Canada. Bitbuy is suited for both beginners (with their ‘Express Trade’ feature) and more advanced traders (with their ‘Pro Trade’ feature).
This feature makes Coinbase not only a trading platform but also a great resource for personal growth in the crypto space. Additionally, Coinbase is one of the few exchanges that is publicly traded, further enhancing its credibility and transparency. In addition to its web platform, Coinbase has a highly rated mobile app that offers all the functionalities needed to manage digital assets on the go.
Canada Crypto Exchanges Spreads
A combination of these factors will steer you towards the optimal exchange for your trading activities. Additionally, users can stake Kraken’s native token, KRAK, to gain extra rewards and benefits. Kraken’s user-friendly interface enhances the trading experience by making navigation simple and intuitive.
Covering Crypto Livestream
Since its launch, ChangeNOW has positioned itself as the bridge between the freedom of Web3 and the convenience of traditional financial services, serving over one million satisfied clients worldwide. BTCC’s user-centric features, including optional two-factor authentication, further enhance its safety credentials. It offers a variety of deposit and withdrawal methods, including wire transfers and credit/debit cards, catering to both crypto enthusiasts and those entering the space for the first time. Users can feel confident knowing that Coinbase operates under stringent regulatory guidelines, adding an extra layer of trust. Meanwhile, ChangeNOW offers a seamless, registration-free trading experience, ideal for those who value efficiency and privacy. For instance, Bitget stands out with its support for CAD deposits, making it easier for Canadian investors to engage in the market without the hassle of currency conversion.
Security
Our team has thoroughly assessed each platform, and below, you will find information on the regulations, fees, available coins, and everything else that will be of interest to someone who is looking to trade or own cryptocurrencies in Canada. With its user-friendly interface, low fees, and deep liquidity, OKX stands out as an ideal choice for both novice and experienced traders seeking a reliable and feature-rich platform. Crypto.com supports over 300 cryptocurrencies providing liquidity and low fees for users worldwide. Crypto.com is a Singapore-based cryptocurrency exchange offering a wide range of financial services, including spot trading, margin trading, derivatives, and DeFi products.
- Since the regulatory updates, all digital currency exchanges operating in Canada must register with FINTRAC, implement know-your-customer (KYC) procedures, report suspicious activities, and maintain proper records.
- Is a trading member of NSE, BSE, and depository participant of NSDL.
- Regulations are dynamic, and users should always check with a local expert to make sure they are doing everything according to local laws.
- Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts.
Featuring a comprehensive trading platform with an interactive chart system and various order types, BTCC ensures users—whether beginners or experienced traders—enjoy a smooth trading experience. Known for being one of the longest-running Bitcoin exchanges globally, BTCC attracts users with its seamless fiat-to-crypto trading services and innovative Bitcoin mining solutions. No registered crypto platform can legally offer margin, credit, or leveraged trading of cryptocurrencies to retail traders. Individuals in Canada are permitted to trade cryptocurrencies in several ways, primarily through spot trading on registered crypto asset trading platforms regulated by provincial authorities under CSA oversight. As of 2025, all registered crypto platforms in Canada must comply with the no-margin trading rule for retail users, regardless of province. Since cryptocurrency is still relatively new to mainstream adoption, some brokers charge higher fees than traditional financial brokers.
Unfavorable regulatory developments can trigger sudden price declines. Risks include exchange hacks, phishing attacks, malware compromising private keys, SIM-swapping attacks defeating two-factor authentication, and social engineering exploits. This volatility creates both opportunities and severe downside risks. Exchange hacks, mismanagement, or insolvency could result in permanent asset loss, though regulated brokers carry protections. When trading independently, you avoid intermediary commissions entirely.
Canadian crypto enthusiasts who make Kraken their platform of choice can trade either futures or partake in spot trading, all in one powerful interface. As per 2025 data, the exchange reported 15M+ clients, 560+ crypto assets, and $207B+ in quarterly trading volume. Frank Corva is business-to-business (B2B) correspondent for Bitcoin Magazine and formerly the cryptocurrency writer and analyst for digital assets at Finder. Our team has extensively reviewed dozens of cryptocurrency exchanges and apps to find the best crypto app in Canada. There are also several options available for buying and selling without verification on P2P exchanges, although they are much less user-friendly and are recommended for more advanced users.