Here’s something you may not realize: the cryptocurrency exchange you choose matters. Your choice will impact how profitable your trades are, how easily you can buy and sell coins, and in some cases, whether you get your money back at all.

I’m not exaggerating here. Hundreds of thousands of Canadians lost tens of millions of dollars in the QuadrigaCX scam of 2019, and to date, none of those funds have been returned. That’s why platform security and trustworthiness are my #1 criteria for my selections below.

So if you’re looking for a safe, secure Canadian crypto exchange that’s easy to use, you’ve come to the right place. I’ve been investing in crypto for over 9 years now, and I make tweaks to the list below almost every day.

Here’s a quick look at my top three crypto exchanges in Canada:

1. Coinsmart
2. Bitbuy
3. Crypto.com
4. VirgoCX
5. Wealthsimple Crypto
6. Satstreet
7. Bitvo
8. Coinberry
9. LocalBitcoins

Consmart

CoinSmart is, without a doubt, the best crypto platform in Canada in 2022.

For starters, CoinSmart’s trading fees are an incredibly low 0.2%. They offer excellent customer support available 24/7 via phone, live chat, and email, and user accounts are verified instantly.

CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), and as a publicly-traded company, its financials are audited by a third-party firm at least once per year. They also maintain a 95% cold storage policy, which ensures your crypto is kept extra safe and secure across all circumstances.

As a new CoinSmart user, you’ll receive a $30 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.

Features

1. Extremely low trading fees (0.2%)

2. 24/7 customer support available via phone, live chat, or email

3. Instant account verification

4. Supports 16 cryptocurrencies

5. Registered Marketplace by the OSC

6. Immediate deposits and withdrawals

7. User-friendly for both beginners and advanced traders

8. 95% cold storage policy keeps your crypto extra secure

Cost

Account Opening: Free

Trading Fees: 0.2%

INTERAC Deposit: 0%

Bank Wire Deposit: 0%

Bank Wire Withdrawal: 1%

EFT Withdrawal: 1%

Signup Bonus

$30 bonus when you sign up using this link.

Best For

Investors looking for low fees and the best overall trading experience.

Bitbuy

Bitbuy is a great second option for Canadians seeking a reliable, trustworthy crypto exchange.

Like CoinSmart, Bitbuy’s trading fees are just 0.2% and go as low as 0.1% for transactions made using their advanced trading platform. It supports 15 cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

Bitbuy has processed more than $4 billion in trades across its 350,000+ Canadian users. It’s a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it’s a highly safe and secure exchange that offers deep liquidity for all order sizes.

For a limited time, Bitbuy is offering a $40 bonus to Yore Oyster readers who fund their accounts with $250 or more. If you’re looking for a highly-respected exchange that offers altcoin trading, excellent customer service, and a slick mobile app, open a Bitbuy account today.

Features

1. Extremely low trading fees (0.1% – 0.2%)

2. Easy to use for both beginners and advanced traders

3. Supports 15 cryptocurrencies

4. Excellent customer support

5. Powerful mobile app (rated 4.6/5 on the App Store)

6. 95% cold storage policy keeps your crypto extra secure

Cost

Account Opening: Free

Trading Fees: 0.1% to 0.2%

INTERAC Deposits/Withdrawals: 1.5%

Bank Wire Deposit: 0.5%

Bank Wire Withdrawal: 1%

Signup Bonus

$40 when you deposit $250 using this link.

Best For

Investors looking to trade with extremely low trading fees

Crypto.com

Crypto.com is a major global player that brings a mature, proven exchange to Canadian crypto investors. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com offers some unique features that no other Canadian cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com also has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Overall, Crypto.com is a solid exchange for investors looking to cash in on brand new altcoins. If you’re just looking to buy more mainstream coins like Bitcoin and Ethereum, though, I suggest either Bitbuy or CoinSmart instead.

Features

1. Average trading fees (0.4%)

2. Supports 100+ cryptocurrencies

3. Allows up to 10x leverage

4. Trade crypto derivatives (futures and options contracts)

5. Earn daily interest by staking your coins

6. Purchase newly-listed coins at up to 50% off

7. Free deposits from all cryptocurrencies

Cost

Account OpeningFree

Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream

VirgoCX

VirgoCX is another Toronto-based crypto exchange. Its users appreciate that it offers 50+ cryptocurrencies, one of the widest selections of any exchange on this list.

VirgoCX’s trading platform and mobile app are intuitive and easy to use, even for beginners. It offers 24/7 customer support via live chat and email, plus an extensive FAQ section on its site.

VirgoCX charges no deposit or withdrawal fees on fiat and covers the first $6 in mining fees on ERC20 withdrawals. It requires 2-factor authentication on all accounts and maintains a 95% cold storage policy to keep your assets safe at all times.

Features

1. Supports 50+ cryptocurrencies

2. Free fiat deposits and withdrawals

3. Free deposits and withdrawals on most cryptocurrencies

4. 24/7 customer support available via live chat and email

5. User-friendly for both beginners and advanced traders

6. 95% cold storage policy keeps your crypto extra secure

Cost

Account Opening: Free

Cash Deposits: Free

Cash Withdrawals: Free

Crypto Deposits: Free

Crypto Withdrawals: Free for all major coins

Spreads on trades: Around 1%

Signup Bonus

$30 when you fund your account with $100 or more using this link.

Best For

Investors looking to buy altcoins before everyone else.

Wealthsimple Crypto

Wealthsimple Crypto is a Toronto-based crypto exchange that’s been around for a few years. It supports 35 coins, including the major coins like Bitcoin, Ethereumand Dogecoin, as well as smaller altcoins like Litecoin, Aave, Ox, 1inch, Curve, Cosmos, Ren, Shiba Inu, Polygon, Polkadot, and more.

Wealthsimple offers 24/7 customer support via live chat and email. Users can also trade stocks from the same place, seamlessly moving funds between their stock portfolio and crypto portfolio.

Trading with Wealthsimple is highly secure since it’s a regulated platform with a 95% cold storage policy. They’ve also partnered with Coin cover to protect your coins from theft, and are backed by a $200 million insurance policy against any potential losses.

More than 1 million Canadians use Wealthsimple, and for good reason: it’s a reputable, solid platform for trading crypto. If you don’t like Bitbuy or CoinSmart for some reason, you can claim your $50 signup bonus with Wealthsimple right here.

Features

1. 1.5 million users across Canada

2. Reasonable trading fees (0.50% – 2.00%)

3. 24/7 customer support available via live chat and email

4. Instant account verification

5. Supports 35+ cryptocurrencies

6. Immediate deposits and withdrawals

7. User-friendly for both beginners and advanced traders

8 .95% cold storage policy keeps your crypto extra secure

Cost

Account Opening: Free

Trading Fees: 0.50% – 2.00%

Deposits: Free

Withdrawals: Free

Signup Bonus

$50 bonus when you trade at least $150 using this link.

Best For

Investors looking to trade a wider variety of altcoins.

Satstreet

If you’re trading between $25,000 and $10+ million, you should be using Satstreet. Satstreet is not like the other exchanges on this list: it’s a white-glove trading experience for high-net-worth investors and corporations. They take a highly personalized approach to crypto investing, focusing their efforts on offering excellent service to a specific segment of the Canadian market.

Satstreet has extremely deep liquidity that allows it to offer fixed prices on large orders with zero slippage. Placing a $100,000 buy order is nearly impossible on most Canadian exchanges, but Satstreet handles orders that size (and much larger) every day.

Satstreet clients can choose to take custody immediately after a transaction,  get access to an account with a qualified custodian, leverage their proprietary custody solution, or choose a multi-sig collaborative security setup involving multiple hardware wallets and co-signers. Satstreet also offers video verification on withdrawals and whitelisted wallet addresses, both of which ensure that only you can withdraw your funds.

With dedicated account managers available whenever you need them, Satstreet offers a level of customer service no other exchange can match. If you’re ready to invest $25,000 or more, Satstreet is for you.

Features

1. Extremely low trading fees on large order volumes

2. Very deep liquidity to prevent price slippage

3. Supports Bitcoin, Ethereum, and allows access to the widest selection of digital assets for accredited investors in Canada

4. Dedicated account managers provide top-notch customer support

5. Deep security expertise & customized security setups

6. Quick banking settlement (USD & CAD)

Cost

Trading Fees: Around 1%

No other fees

Best For

Low fees and VIP treatment on large orders ($25,000 and up).

Bitvo

Headquartered in Calgary, Bitvo supports 11 cryptocurrencies—including Cardano, Dash, and QCAD—and offers competitive spreads on all trades. They have a user-friendly interface with a powerful advanced trading platform, and process all deposits and withdrawals same-day.

One of Bitvo’s unique features is the Bitvo Cash Card, which allows users to spend the fiat in their Bitvo account anywhere Visa is accepted, or withdraw it from more than 2 million ATMs in 200 countries around the world.

Bitvo is a registered Money Services Business with FINTRAC and holds 95-100% of customer funds in cold storage for extra security. Most accounts are verified instantly, and the platform is backed by 24/7 live customer support.

Features

1. Zero trading fees and competitive spreads on all trades

2. 24/7 customer support available via phone, live chat, or email

3. Instant account verification for most users

4. Bitvo Cash Card can be used in 200 countries around the world

5. Supports 11 cryptocurrencies

6. Registered Money Services Business by FINTRAC

7. Same-day deposits and withdrawals

8. User-friendly for both beginners and advanced traders

9. 95-100% cold storage keeps your crypto extra secure

Cost

Account Opening: Free

Trading Fees: 0% + spreads

Withdrawing Funds: 1%

Best For

Investors looking for an advanced trading platform with low fees.

Coinberry

Coinberry supports 18 cryptocurrencies and charges zero fees on CAD deposits and withdrawals. Users can instantly deposit money via credit card and INTERAC e-transfers, and while Coinberry hasn’t reached the mass appeal of the likes of Bitbuy, it’s still an excellent, highly secure exchange.

One of the features Coinberry users love most is Coinberry Autopilot, which allows users to purchase cryptocurrencies automatically through the time-tested investing strategy known as dollar-cost averaging. Dollar-cost averaging is one of the best-performing investing strategies on the planet, and Coinberry is the only exchange in Canada to offer this functionality.

Features

1. Supports 18 cryptocurrencies

2. Instant account verification

3. Auto-purchase functionality (dollar-cost averaging)

4. Live, helpful customer support

5. Excellent mobile app (rated 4.5/5 on the App Store)

6. Cold storage provided by Gemini

Cost

Deposit and withdrawal fees: 0%.

Spread: From 0% to 2.5%.

Best For

Investors looking to buy cryptocurrencies through dollar-cost averaging.