Despite the strict regulation of the Canadian Securities and Regulatory Commission (CSA), the cryptocurrency market in Canada still sees a rapid development, thus offering a favourable and fair trading environment for investors in Canada. Selecting best cryptocurrency exchange is crucial for any investor trading digital assets, especially for newcomers. So, If you are interested in crypto trading in Canada, keep reading to learn more about the best crypto exchanges for Canadian traders in 2024.

Table of contents

The Best Crypto Exchanges of 2024

1. Kraken
2. Bitbuy
3. Coinbase
4. NDAX
5. Kraken vs. Bitbuy vs. Coinbase vs. NDAX
6. BTCC (MOST RECOMMENDED: Up to $15,015 Bonus to claim)
7. How to Trade Futures on BTCC？

The Best Crypto Exchanges of 2024

Although crypto industry saw many setbacks over the past year, the interests and demand for cryptocurrency from investors in Canada is still huge. Ranking 19th in 2023 Global Crypto Adoption Index by Chainalysis, Canada is one of only four G7 countries on that list. In Canada, benefiting from the government’s strict regulation on blockchain and cryptocurrencies, traders are allowed to access to major international exchanges with good reputation and conduct safe trading activities.

The following lists several crypto exchanges that we consider as the best exchanges for trading in Canada in 2024, comparing their pros&cons. Whether you are a newcomer or advanced trader, we believe this article will help you find the most suitable exchange for your demand.

Kraken

Founded in 2011, Kraken is a United States–based cryptocurrency exchange. As a major player in Canada’s cryptocurrency market, Kraken serves over 9 million clients in 190 countries and boasting a substantial $207 billion in quarterly trading volume. It earns global trust for its reliability, making it an excellent choice for traders seeking competitive fees and sophisticated trading instruments.

Bitbuy

With mission of providing fellow Canadians convenient, dependable, and secure access to Bitcoin and other cryptocurrencies, Bitbuy has grown to become the leading exchange in the Canadian market, offering services primarily to Canadian investors. Bitbuy stands out as the prime choice crypto change for safety and compliance with Canadian laws. Its merger with major Canadian crypto exchanges like Coinberry, Coinsmart, and Bitbuy greatly solidifies its status as the top crypto exchange in Canada, demonstrating its commitment to serving Canadian users and aiming to dominate the local market.

Coinbase

 

Established in 2012, Coinbase is the world’s leading cryptocurrency exchange, offering Canadian investors trading options for over 50 cryptocurrencies. Featuring by its ease of use and simple approach to crypto investing, Coinbase is one of the most popular trading platforms in Canada.

NDAX

Founded in 2017 by Bilal Hammoud and Usman Sheikh, NDAX is another popular exchange that offers a range of coins and tokens, as well as a number of deposit and withdrawal options. Known for its competitive fee structure, NDAX also offers cryptocurrency trading and pledge incentives. NDAX is a beginner-friendly exchange that provides a good amount of popular digital currencies and it is the only Canadian crypto exchange that offers crypto staking.

Kraken vs. Bitbuy vs. Coinbase vs. NDAX

Exchange	Pros	Cons
Kraken	Supporting over 200 cryptocurrencies across more than 600 trading pairs Globally recognized security Offering 24/7 customer support Advanced trading functions	Fewer services offered for Canadians, such as deposit and futures trading High fee for certain tradings, like credit/debit card purchases with fees ranging from 5.2% to 7.1% Limited leverage options
Bitbuy	Charging minimal trading fees ranging from 0% to 2% Being first regulated platform in Canada Commitment to high security Catering to both beginners and advanced traders with its two separate platforms – Express Trade and Pro Trade	Offering limited number of cryptocurrencies available compare to other major crypto exchanges High withdrawal fees No live chart support
Coinbase	User-friendly interface Powerful analytical tools Native application for iOS and Android Impressive security Offering an impressive catalog of supported cryptocurrencies, including over 220 coins and tokens	High trading fees, like instant buy fee up to 3.99% Customer support still needs to be improved
NDAX	Free deposits Adopting strict security measures to ensure the safety of assets Providing multiple ways of customer service Offering pledge service for some cryptocurrencies	Limited selection of cryptocurrencies for trading Less intuitive user interface Allowing users to purchase cryptocurrencies only by CAD

BTCC (MOST RECOMMENDED: Up to $15,015 Bonus to claim)

After introduce the above four popular exchanges in Canada, here, we would like to introduce BTCC, one of the longest-running exchange in the world, which not only boosts these advantages, but also avoids the shortcomings or offers good solutions.

As one of the longest-running exchange in the world, BTCC is committed to making crypto trading reliable and accessible to everyone. With a mission of providing a trading platform that is fair and reliable in every sense, BTCC strives to uplift the industry’s standard for quality trading. At present, BTCC offers service in more than 100 countries and regions with more than 6 million registered users. The following sets forth the major advantages that BTCC owns compared with other major exchanges.

Industry-leading security

BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.

High Liquidity & Volume

BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 100 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.

Extremely low fees 

Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

High and rich rewards

BTCC holds all kinds of campaigns where investors can participate to win exciting rewards. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.

Large and flexible funding options

In addition to the major digital currencies like BTC, ETH, BCH, LINK, LTC, ADA, DOT, EOS, XRP, and UNI, investors can also trade DASH, DOGE, SHIB, FIL, XLM, XMR, GRT, RNDR, EGLD, and KLAY on BTCC. BTCC offers flexible leverage up to 150x across daily and perpetual contract types, supporting a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT.

How to Trade Futures on BTCC？

The following sets forth the guidance for buying cryptocurrencies on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first, and then fund USDT in your crypto wallet after registration.

Step Two: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the cryptocurrency/USD trading pair.

Step Three: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and stop-loss orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit Order is used to plunge to the top/bottom of the market, which is a user-defined bid/ask price. Once the market reaches the limit price, it can be filled.
• Stop Loss Order: Stop Loss Order can be interpreted as a “Breakout Order”, which is an advanced limit order where the user can set a custom bid/ask price. After the market reaches the limit price, it will be closed.

Step Four: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Five: choose the lot size and set the stop profit and stop loss price .

Step Six: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Seven: click the buy or sell button, and the crypto contract order is completed.

＼Deposit and Receive Up to 10,055 USDT!／

Note: BTCC provides mode trading and offer mode trading fund. Those who want to try to start cryptocurrency contract trading and are more concerned about the fee (BTCC minimum fee can be 0%), it is recommended to start from BTCC !

＼Deposit and Receive Up to 10,055 USDT!／

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