Your Crypto & Bitcoin Brokerage

Crypto brokers in Canada are very similar to a traditional finance trading platform. They aim to simplify the process and reduce complexities through their platforms and their expertise in the cryptocurrency field. However, this convenience comes at a cost, as they do charge higher fees for their services in comparison to the crypto exchanges. VirgoCX keeps more than 95% of its users funds in cold storage, has very low trading fees, and offers a well-rated mobile app that Canadians love. Kraken is another United States-based crypto exchange that Canadian citizens can use.

Investors looking for a secure, internationally-recognized exchange. $20 when you fund your account with $100 or moreusing this link. My team and I spent more than 100 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.

Choosing the right place to buy, sell and trade is incredibly important. However, investors should do their own extensive research and be well-versed with the crypto landscape before committing any funds. After selecting an exchange, sign up with a valid email bitcoin brokers canada and phone number to open an account. Verification documents including driver’s license and passport will need to be uploaded. Most exchanges will ask for a selfie to check for a face match with the documents submitted for verifying a person’s identity.

Instead, you’re better served considering overall fees and any discounts available for trading a certain amount each month or holding an exchange’s native cryptocurrency. Some platforms allow users to stake selected cryptos and earn interest payments. Offers advanced features like margin trading and futures trading. The platform is headquartered in Seychelles, with a growing number of users in Asia, Europe, the Middle East and Africa. While U.S. users can access and use the trading platform, KuCoin is not licensed in the U.S.

Which Crypto Exchange is best in Canada?

The best crypto exchange Canada is Bitbuy, and it keeps more funds in cold storage and has very low trading fees.

The Binance OTC platform also facilitates crypto-to-crypto trades with trading pairs not listed on the main Binance platform. Is an Australian cryptocurrency exchange and wallet service that also has an OTC desk. Individuals and institutions looking to make larger transactions are given privacy and flexibility with their tailored solutions. The team is leveraging industry-leading APIs, with smart order routing and domestic banks for fast settlement. The platform also offers a personalized service for orders over $100K, which has low fees and quick settlement. Itbit states that its OTC market has very competitive pricing, which makes it very attractive considering it’s also a regulated exchange.

How do you buy crypto?

Binance OTC’s minimum trade size is $200,000 worth of coins, with users required to first authenticate themselves. They will then contact the Binance OTC team directly for trade requests, confirmations, settlement instructions and more. OTC trades at CoinJar are available from AUD $50,000 and above. The exchange is backed by prominent venture capital funds, like Digital Currency Group and Blackbird Ventures.

If you’re looking for a solid all-around crypto trading platform, CoinSmart is a fine choice. This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.

The team at only recommends products and services that we would use ourselves and that we believe will provide value to our readers. However, we advocate for you to continue to do your own research and make educated decisions. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. She also has experience as a content creator, strategist and brand editor for various financial institutions and banks. Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world. A keen trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.

Purchasing Cryptocurrency With Cryptocurrency:

Krakenis one of the oldest U.S. crypto exchanges, founded in 2011 during crypto’s Paleolithic era. This platform offers a solid range of coins with very competitive trading fees. It’s also one of the few exchanges in the U.S. to offer margin trading and a suite of other advanced trading tools like advanced order types and futures trading. These options include crypto exchanges, cryptocurrency brokers, and peer trading platforms. Peer trading platforms connect you to the sellers of Bitcoin in Canada.

Leave the crypto on the exchange and earn passive income from staking and farming. Staking helps earn crypto interest by locking the cryptocurrency holdings on the exchange, while farming helps to earn more cryptocurrencies using existing crypto assets on the exchange. The below steps explain how to buy cryptocurrencies via brokers if one doesn’t want to trade using a crypto exchange. However, this option can be expensive since banks may charge higher interest rates and additional cash advance fees on crypto credit card purchases. Learn how to buy Bitcoin and other cryptocurrencies in Canada via brokers or directly through a crypto exchange. The crypto exchanges that operate legally in Canada include VirgoCX, ZenGo, CoinSmart, and everyone else on this list.

OTC desk offers bulk trades in various cryptocurrencies, including Bitcoin and Ethereum from $50k to over $50M for clients in the United States and Canada. The company has a minimum trade size of $250K and their services are only available to institutions and individuals with assets worth at least $10 million. Unlike some other OTC exchanges, Genesis is regulated by FINRA and the SEC. They were also granted a Bitlicense in the state of New York back in 2018.

#1 Best online broker for crypto trading

All you need to do is register with Binance and complete the KYC checks they have in place. For direct Bitcoin purchases, they partner with Simplex as a payment provider that also ensures your transactions remain safe and secure. It should take no more than a few minutes to complete your Bitcoin purchase with Binance. Beginners should pay good attention to the platforms before investing in an article that can lose its value. More information can be gathered by visiting the respective websites and conducting one’s own research based on the unique offering each brand has. The Gemini credit card offers up to 3% rewards on every spending.

There are no deposit or withdrawal fees charged from the users. Crypto exchanges can be centralized, meaning they are managed by one corporate authority, like a brokerage company that facilitates the security of trades, or decentralized. While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive. That’s because you can’t choose whether your order is processed as a maker or a taker.

  • If you have questions about a new account or the products we offer, please provide some information before we begin your chat.
  • Investors looking for a secure, internationally-recognized exchange.
  • It also has the provision of crime insurance, protecting a portion of digital assets held across its storage systems against losses from theft, including cybersecurity breaches.
  • So, if you are wondering how to buy Bitcoin or crypto in Canada, then read on and familiarize yourself with the details.

This means you either have to already own crypto or use a centralized exchange to get crypto that you then use on a DEX. While some of the best crypto exchanges are available everywhere, others have widely varying degrees of accessibility to different features by country and by U.S. state. Beginners will appreciate Coinbase’s user-friendly interface and the simplicity of its buy and sell orders, akin to using an online brokerage platform for trading stocks. Coinbase’s more than 200 tradable coins should satisfy most looking to break into the crypto space.

However, they increased their trading fees to 1.5% around the same time, negating most or all of those cost savings. CoinSmart supports 16 cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app. With the Coinbase wallet app, you can trade more than 500 assets on decentralized exchanges to earn interest. Yes, you have to pay tax to sell your Bitcoin for profit in Canada.

What is the cheapest crypto exchange in Canada?

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Although not all the currencies have all the services available, most of the currencies have got all four functionalities active. These currencies include all the major currencies, high-growth project tokens, and tokens from the protocol that are unique in their services. Apart from BTC and ETH, Coinbase supports 1INCH, AAVE, ADA, ALGO, BAND, BAT, COMP, DAI, DASH, Doge, EOS, and many more. A cryptocurrency exchange allows you to buy, hold, and own the Bitcoin you paid for. On the other hand, a cryptocurrency broker only allows you to bet on the price of Bitcoin and not to own the coin. Use any of the convenient payment methods offered by the Bitcoin exchange to add money to your account.

What crypto exchange is best for beginners in Canada?

Does the Bitcoin exchange offer trading tools to help you navigate the trading interface? The trading tools include Relative Strength Index , MACD, MA, Trend Line, and Volume. Can you easily use the platform to execute different kinds of cryptocurrency transactions?

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio. They currently offer Bitcoin trading as well as over 300 other popular tokens.

Interactive Brokers Clients Earn Up to USD 4.08% on Their Uninvested Cash Balances*

Alternative service providers such as Cash App and PayPal have also jumped on the crypto wagon and offer cryptocurrencies to U.S. users. The information on this website is for information purposes only. It is not intended as investment or financial advice and should not be relied on as such. Before making any financial commitment you should seek professional advice from a qualified investment or financial adviser. Any exchanges we list on our pages should be diligently researched, we list exchanges based on public information at the time. Exchanges have been known to suddenly collapse and we highly recommend keeping any cryptocurrencies you own on a cold wallet.

Which Crypto Exchanges are legal in Canada?

When choosing a Crypto Exchange in Canada, it is best to select a platform approved by relevant domestic bodies.

Their global head of trading, Bobby Cho, was formerly a director for ItBit and Vice President of Second Market. – Buying OTC means that there is less regulation involved, since many of the OTC sellers aren’t listed as money transmitters. This is due to the fact that once you finish buying from the “cheap” sellers, you gradually move to the “expensive” sellers. When you use an OTC exchange, you can negotiate a fixed price for the entire order (e.g. “Bitstamp rate + 1%”).

To rank an exchange in this category, we looked for platforms that charge no more than 0.1% per trade. We also checked for any hidden costs, such as large deposit or withdrawal fees, or wide spreads. Some exchanges also had options to reduce trading fees based on trade volume or by paying using their native cryptocurrency.

Bitbuy is also FINTRAC registered (i.e. fully compliant) and their customer support is top-notch. They now have an app to make trading super easy and convenient. All of the other recommended cryptocurrency exchanges in this post operate legally in Canada, too.

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