6 Best Canadian Crypto Exchange Platforms
When looking to buy or sell cryptocurrencies, Canada offers several different options. Those looking to buy and sell crypto in Canada will want to consider the many Canadian crypto exchanges available, including Binance, Shakepay, Coinbase, and VirgoCX.
To make the process easier, the following Canadian crypto exchanges are regulated in Canada. Listed below is a comparison table of the top 6 Canadian crypto exchanges option. Once you have chosen a site, you’ll need to sign up for an account and verify your credentials.
If you’re new to the world of cryptocurrency, you may wonder if Binance is right for you. After all, it doesn’t charge for crypto, and the Canadian crypto exchange only charges a small fee when you withdraw fiat.
If you’re a Canadian, you might prefer to buy cryptocurrency through a third party like Banxa or Simplex. Alternatively, you can use your own debit or credit card to purchase cryptocurrency. Just remember that you need to enter a minimum of $20 per transaction.
When choosing a crypto exchange, you should keep in mind the security features. Binance stores most of its user’s assets in offline cold storage. Although it doesn’t reveal how much, it does store a portion of all trading fees in a separate, secure fund.
Although the Canadian crypto exchange’s security is not unquestionable, it does make new users feel comfortable. The Canadian crypto exchange also offers helpful information for people who are just getting started with crypto.
As a Canadian, Binance is subject to the Securities Commission of Canada. The OSC is the primary regulator for Binance Canada, and it coordinates the application process in collaboration with other Canadian securities regulators.
Early this year, it told investors that their trading was restricted. In reality, it kept on operating as usual. The company gave users 90 days to close their positions before the new law took effect. The OSC has the power to pursue any violations of the securities laws.
Another great thing about Binance is that it is a Canadian-friendly exchange. It supports more than 300 different crypto assets and is a good option for new Canadian crypto exchange investors. For example, if you’re a Canadian, you can trade Binance Coin to earn interest on your crypto holdings.
In addition to trading crypto, you can access margin trading and other advanced trading products. The exchange also supports peer-to-peer trading, so you can use it as an alternative to a traditional exchange.
Unlike many other Canadian crypto exchanges, Shakepay charges no fees to purchase digital currencies. However, it quotes a higher price than most exchanges. Users should check with their financial institution before making a purchase.
The following is a review of Shakepay’s features and costs. If you’re in Canada, I recommend trying it out! This Canadian crypto exchange offers a variety of cryptocurrencies, including Bitcoin and Ethereum, and is a great choice for Canadians looking to invest in crypto.
You can transfer funds to and from Shakepay via wire transfer or credit card. You must use your personal Canadian bank account. If you’re sending a wire transfer, make sure you ask for the account details from Shakepay.
Also, be sure to include a copy of your confirmation. Bitcoin and Ethereum deposits generally take about 20 minutes to complete. There are no minimum or maximum deposit amounts, but they’re dependent on network congestion. Using Shakepay is safe and secure.
Although Shakepay only opened for business in 2015, it’s already well-regulated. The Canadian Financial Services Commission and Autorite Des Marches Financiers (AMF) have both licensed the Canadian crypto exchange as a Money Service Business.
As a result, Shakepay is considered one of the safest exchanges. Its offline storage solution and insurance policy make it a secure and safe place to keep your digital assets. The desktop platforms of Shakepay are user-friendly and beginner-friendly.
The interface is easy to navigate and offers simple features that allow users to add funds and send them to another cryptocurrency wallet or bank account.
The platform also allows for recurring purchases of certain cryptocurrencies. For high-volume investors, the 1-3% spread may turn off some investors. Also, the exchange doesn’t offer as many cryptocurrencies as some other exchanges do.
If you’re a beginner looking for a safe, secure way to buy and sell cryptocurrencies, Coinbase is one of the best Canadian crypto exchange options for you. It offers an extensive range of cryptocurrencies, including Bitcoin and Ethereum, and is easy to use.
However, there are some shortcomings that make this service less suitable for beginners. This article will discuss some of the pros and cons of Coinbase, including its limitations. In addition, we’ll discuss how it compares to Gemini, Binance, and others.
Crypto exchange platforms work similar to stock brokerage sites, giving users access to the digital currency market. First, you need to open an account with the exchange of your choice. Once you’ve done so, you need to provide basic personal information and ID paperwork.
After that, you need to deposit funds. In Canada, the best crypto exchanges accept credit and debit card payments. The best Canadian Bitcoin exchanges also support credit cards and Interac e-Transfers. For advanced traders, Bitbuy is a convenient option.
Bitbuy offers charts provided by TradingView, and the exchange supports fifteen leading digital currencies. New coins will be added soon. CoinSmart mobile app is one of the best in the country and offers excellent customer support.
There’s no need to download a special app to trade cryptocurrencies – it’s available for both Android and iOS. This service has a great reputation in Canada and is one of the best options for beginners and experienced users alike.
Another Canadian crypto exchange is Coinberry. It’s a relatively new company, having been founded just three years ago. The company was originally founded as a Bitcoin ATM provider in Canada and is now a fully-fledged exchange.
The company also offers CDIC-insured segregated banking so that customer funds are never mixed. A bonus: Coinberry is a small Canadian crypto exchange company. The service is safe and secure, and the platform also adheres to the Personal Information Protection and Electronic Documents Act.
VirgoCX is a Canadian cryptocurrency exchange with a user-friendly platform. The platform allows you to place orders, view charts, and make limits. You can deposit and withdraw using fiat or cryptocurrency, and you can even trade NFTs.
If you are in Canada, you can deposit using your local currency. VirgoCX supports more than fifty different coins and plans to add more to its list in the future. To view the full list of supported coins, visit the VirgoCX website.
VirgoCX also offers zero-fee crypto trading. The exchange charges 0% fees for all trades and just 0.75% for withdrawals. Additionally, you can deposit and withdraw funds in Canadian dollars for free. These low fees make VirgoCX one of the best places to trade crypto in Canada.
A few other great features include a low minimum deposit and free withdrawals in Canadian dollars. VirgoCX is a FINTRAC-registered MSB that focuses on the crypto market.
It offers institutional-grade custodianship, competitive pricing, and 24/7 customer support. It has been expanding internationally in response to market demand. And, unlike other Canadian crypto exchanges, VirgoCX is not a scam. In fact, it has earned the trust of many Canadians.
While cryptocurrencies in general have become increasingly popular in Canada, NDAX is a great Canadian crypto exchange choice for Canadians. This cryptocurrency exchange platform boasts competitive trading fees, instant ID verification, institutional-level security, and deep liquidity.
In addition, you can trade in Canadian dollars as well as other major cryptocurrencies. Withdrawals are fast and secure, and the exchange adheres to strict anti-money laundering regulations. Withdrawals can be made through wire transfers, certified cheques, and EFT/direct deposit.
The National Digital Asset Exchange Inc. is a high-liquid brokerage that lets users buy and sell crypto and make profits in CAD. The company recently launched Coinberry Pay, a payment processing solution. It is registered with FINTAC and fully compliant with the regulatory framework.
It offers CDIC-insured segregated banking, which ensures that company and customer funds never mix. It also supports a variety of currencies, including bitcoin and Ethereum. NDAX accepts users from Canada, the United States, and other countries.
Signing up for an account on NDAX requires you to select your country of residence, enter your first and last name, email address, and password, and verify that you are at least 18 years of age. You must also upload a valid government-issued ID to activate your account.
After completing your application, you can start trading on NDAX. NDAX also requires its users to register with two-factor authentication. This provides additional security, and NDAX offers Google Authenticator for generating one-time codes.
Upon registration, you will be required to complete a KYC check, in which you must provide a valid ID. NDAX also offers referral programs to reward their users with up to $25 per successful referral. So, what are you waiting for? Start trading in Canada today!
350 total views, 1 views today
- Watch Video “The Black Phone,” A Serial Killer Movie - 03/07/2022
- Information Security Analysts Entry Level Jobs - 03/07/2022
- 8 Computer Technology Jobs that Don’t Require a Degree - 03/07/2022