11 Best Crypto Exchanges in Canada January 2025

11 Best Crypto Exchanges in Canada January 2025

Bybit is recognized as the best peer-to-peer (P2P) crypto exchange in Canada, offering a decentralized platform that connects both sellers and buyers directly. To trade on the platform, consumers must first link their bank accounts and conduct a wire transfer or ACH deposit from a bank. The majority of users’ cryptocurrency is kept offline in “cold storage,” while their accessible funds are kept in an insured “hot wallet,” guaranteeing the highest level of transaction security. In Canada, Bitcoin investors have a variety of wallet options to choose from for storing their digital assets.

Best crypto platform for quick trading: Uphold

For example, holding ADA can earn you between 2% and 5% annually, while Algorand offers lower yearly rewards from 1% to 4%. Shakepay is a top crypto trading app best for Canadians looking to invest in Bitcoin and Ethereum. This crypto trading platform offers commission-free trading and doesn’t charge any extra deposit/withdrawal fees for fiat and crypto. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. Coinbase is one of the most popular digital currency exchanges, based in the U.S and boasting over 43 million users. 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.

How Banks React On Bitcoin Trading Platforms in Canada

Mean reversion, otherwise known as fading, involves trading over extended moves with the intention of taking profit on a market correction or reversal back to the average value or mean. Once you’ve locked in some profits, it can be a good idea to leave some size on your position or move your stop loss to break even. Once the rejection of the range boundary has been confirmed, you can sit tight and wait for the trade to play out. After the rejection is confirmed, you should consider moving your stop loss to break even or trailing it with the market. This will ensure you’re not out of the money if a large order comes through and momentum swings. Getting wicked out means your stop loss gets hit, only for the trade to then move in your favour.

It is based in Toronto and is one of only a few crypto platforms that allows you to buy Bitcoin in Canada using a credit card. Any platform that fulfils your needs is the best crypto exchange in Canada. However, there are specific platforms that offer excellent services and products. For example, platforms like Bitbuy, Coinberry, and Coinsmart are some of the best crypto exchanges in Canada.

Why Did We Choose Coinsmart?

• Support and resistance levels are often volatile, as some traders are looking to play a breakout while others are fading the move back into the zone.
• In Summer 2018 the Canadian government has published an official draft for new regulations for cryptocurrency and payment processors via the Canada Gazette.
• FINTRAC also conducts audits on exchanges to ensure they maintain the highest standard of compliance.
• Although they require users to entrust their funds to the exchange, posing potential security risks, many of the top Canadian crypto exchanges are centralized, offering robust services and comprehensive support.
• What sets Bitget apart in the Canadian market is its intuitive interface, which appeals to both crypto newcomers and seasoned traders alike.
• Stop-loss placement for pullback EMA trades is relatively straightforward.
• This acquisition may be the start of a consolidation trend for this highly fragmented industry as the most successful firms attempt to break out from their regional focus.

These regulations help deter illegal activities and enhance transparency in the cryptocurrency market. When choosing a crypto exchange in Canada, consider the diversity of available cryptocurrencies. Leading Canadian crypto exchanges support a broad portfolio, enabling you to invest in Bitcoin as well as various altcoins. These top platforms often boast extensive lists of supported assets, providing you the flexibility to invest in the most promising digital currencies. Bitget is a leading cryptocurrency exchange known for its advanced trading features, strong security protocols, and broad product offerings. Since its launch in 2018, Bitget has quickly grown into one of the top exchanges globally.

If you’re holding a position of significant size, it may be worth placing multiple, smaller stop losses. This will decrease your chances of slippage if the trade goes against you; liquidity will likely be thin as many traders rush to exit the market. As shown in the chart below, stop losses for breakout trade setups are best placed inside the trading range or before the support or resistance level. If the range or level is compromised and volume continues to flow into the market, look to execute your breakout trade. It can also be a good idea to scale out of positions and incrementally take size off.

Market Cycle

Operating in 190+ countries, Kraken is among the largest Bitcoin exchanges. Though spread fees run up to 2%, they may be worth it as you won’t deal with any extra trading or deposit/withdrawal costs. The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you. This may impact which products or services we write about and where and how they appear on the site. The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.

Anyone who was burned by the collapse of FTX in 2022 knows how important that can be. Additionally, not every exchange provides the same trading opportunities or charges the same amount. The top firm on Forbes’ third annual Best Crypto Exchange ranking, which analyzed more than 200 firms, is $85 billion Chicago-based CME Group. While crypto is still a tiny part of what is traded at CME, during 2024 it traded $1.4 trillion in futures contracts for digital assets such as bitcoin or ether.

Only eight percent are still interested in the new technology and only ten percent use Bitcoin mainly for purchases or remittances. The main reason for owning Bitcoin is for investment purposes (58 percent). This change of mood can be attributed to the incredible price development towards the end of 2017. Here you see the best Bitcoin brokers for Canadian citizens at a glance. Unfortunately, for legal reasons the provinces of Ontario and Québec are excluded from Bitcoin margin brokers.

Services

Although perhaps less aesthetically pleasing, accumulation phases and ranges can provide a way to profit and allow you easy entry into the market. When demonstrating setups, most traders will display high-volume breakout trades and drawn-out trends with high-percentage returns. The bank is preventing customers from making direct debits via Mastercard and Interac Online Payment to “better protect the security of their customers and the bank”. In Summer 2018 the Canadian government has published an official draft for new regulations for cryptocurrency and payment processors via the Canada Gazette. When you purchase Bitcoin or another virtual currency either online or at a Bitcoin ATM, your transaction, via a private key, is broadcast to the Bitcoin network to be confirmed.

• The optimal place to take profits when trading support and resistance can be confusing and is a topic for debate.
• For effective trading that enables quick transactions at desired prices, liquidity is crucial.
• Instead of using banks for crypto shopping, we simply use forums or sites like Localbitcoins (prohibited in Germany, Bitcoin-Treff.de for German users).
• It is a cryptocurrency invented in 2008 by a person or group of persons known as Satoshi Nakamoto.
• Bitget is a leading cryptocurrency exchange known for its advanced trading features, strong security protocols, and broad product offerings.
• For business or partnership queries, please contact us through email protected.
• It is based in Toronto and is one of only a few crypto platforms that allows you to buy Bitcoin in Canada using a credit card.

Overall, Bitget is recognized for its user-friendly interface, diverse trading options, and commitment to compliance. BestBrokers.com does not assume liability for the financial losses our readers can potentially incur while trading with the online brokers we shortlist. Readers should bear in mind online trading with leveraged derivatives carries a high level of financial risk.

Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. You can buy your coins and send them into your external, non-custodial wallet, where you have full control of your private keys. Once your account is set up, deposit CAD or USD into your wallet via any of the supported transfer methods. The Singapore-based exchange also has its own token, CRO, which users can hold to unlock fee discounts, fee rebates, and earn extra staking bitcoin brokers canada rewards. While we cover a range of products, our comparison may not include every product or provider in the market.