Crypto Exchange Comparison Tool

The NowFuture comparison tool let's you compare 11 Canadian crypto exchanges and find the best crypto exchange in Canada. 11 crypto exchanges were analyzed including: Newton, Kraken, Shakepay, Coinbase, Binance, NDAX, Netcoins, Wealthsimple Crypto, Bitbuy, Coinsquare, and Coinberry. You can compare the true fees, find the cheapest places to buy Bitcoin, look at features side by side, and much more. This research was used to publish the final 2021 rankings here.

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Overview

Data recorded on Mar 1, 2021

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

Coins Offered

20

12

350+

2

50+

16

40+

6

7

6

10

Best Purchase Fee

0.69%

0.50%

2.24%

1.43%

0.80% + $1.25

3.48%

4.55%

1.41%

2.29%

2.83%

0.72%

Best Deposit Fee

Free

Free

2.00%

Free

Free*

Free

3.99%

Free

1.50%

Free

Free

Min. Deposit

$0.00

$0.00

$0.00

$5.00

$4.00

$0.00

$0.00

$10

$100.00

$50.00

$20.00

Fastest Deposit Time

5-30 mins

0-30 mins

Instant

Instant

30-60 mins

Instant ($250 limit)

Instant

Instant

0-6 hours

Instant

0-2 days

Beginner Friendly

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Promotion

$25 free when you trade $100

$10 free when you trade $100

10% off your trading fees

$10 free when you trade $100

N/A

$25 free when you trade $100

$12 free when you trade $126

$10 free when you trade $100

$20 free when you deposit $250

$20 free when you trade $50

$10 free when you deposit $100

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Fees & Spreads

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

Best Purchase Fee

0.69%

0.50%

2.24%

1.43%

0.80% + $1.25

3.48%

4.55%

1.41%

2.29%

2.83%

0.72%

Deposit Fee

Free

Free

2.00%

Free

$1.25 + 0.25%

Free

N/A

Free

1.50%*

Free

Free

Best Trading Fee

Free

0.20%

0.05%

Free

0.16% Maker

0.26% Taker

1.48%

3.99%

0.50%

0.1% Maker

0.2% Taker

Free

0.1% Maker

0.2% Taker

Spread

1.27%

0.40%

0.03%

2.54%

0.25%

3.43%

1.20%

1.71%

0.79%

3.32%

0.50%

BTC Buy Price

$62,486

$62,245

$62,173

$62,945

$62,238

$63,298

$62,406

$62,621

$62,427

$63,814

$62,383

BTC Sell Price

$61,701

$62,000

$62,156

$61,387

$62,082

$61,200

$61,666

$61,568

$61,938

$61,764

$62,073

Reference Price Dif.

Buy: +0.69%

Sell: -0.58%

Buy: +0.30%

Sell: -0.09%

Buy: +0.19%

Sell: +0.16%

Buy: +1.43%

Sell: -1.09%

Buy: +0.29%

Sell: +0.04%

Buy: +2.00%

Sell: -1.40%

Buy: +0.56%

Sell: -0.63%

Buy: +0.91%

Sell: -0.80%

Buy: +0.59%

Sell: -0.19%

Buy: +2.83%

Sell: -0.47%

Buy: +0.52%

Sell: +0.02%

Reference Price (Google)

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

$62,058

How I Tested This

All prices were tested at the same time on March 1, 2021. Spreads fluctuate day by day but this still gives you a good idea of overall prices.

Best Purchase Fee = Reference price difference + funding fees + trading fees

Reference Price: I used Google's price of BTC as a baseline (they take data from Coinbase)


Deposit & Withdrawal Fees

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

E-Transfer

Free

5-30 minutes

Free

0-30 mins

Only deposits

Free

Almost instant

Free

Almost instant

1.50%

$100 min.

0-6 hours

Free

Almost instant

Free

0-2 days

Only deposits

Wire Transfer

Free

2-3 days

Free deposit

$25 w/d fee

0-1 day

Free

1-2 days

$11.50

$125 min.

1-5 days

Free - $500 min

0-3 days

Deposits only

0.50%

$20k min.

2-3 days

Free

$10k min

2-3 days

2%

$10k min.

3-9 days

Connect Bank Account

Free

Up to 4 days

Free deposits

$25 w/d fee

0-1 day

Free

3-5 Days

2%

1-3 days

Only w/d

Credit/Debit Card

2.00%

Instant

3.99%

Instant

5%+ fees

$71 min

Instant

Crypto Withdrawal Fee

First $5 of network fees is covered

0.000399 BTC

0.0005 BTC

Free

0.00015 BTC

Network fees

0.0005 BTC

0.00025 BTC

0.0003 BTC

0.0005 BTC

Other

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In-person cash/debit at Canada Post

$1.25 + 0.25%

See more here

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PayPal Withdrawals

Online bill payment

Free - $50 min

1-2 days

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Features

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

Limit Orders

Price Alerts

Automatic Purchases

Professional Tools

Transparent Order Book

Margin

OTC Desk

Other

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Get paid for finding security bugs

Staking, loans, P2P trading, liquidity pools, futures, and more

ShakingSats: Shake your phone for free BTC every day

Futures, staking, get paid for finding security bugs

Cell

Earn: Take quizzes to earn free crypto

Crypto academy to learn

Cell

Coinberry Pay: Start accepting crypto payments, donantions, & tips

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Security

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

2FA

Withdrawal crypto to external wallet

Canada Regulatory Compliance

?

Storage Type

Third-party cold storage

Cold storage

?

Cold storage

95% cold storage

Cold storage via Gemini

Cold storage

?

95% cold storage

Cold storage via Gemini

95% cold storage

Company Info

Header
Newton Exchange
NDAX Exchange
Binance Exchange
Kraken Exchange Logo 2
Wealthsimple Trade
Coinbase Exchange
Netcoins Exchange
Bitbuy Exchange
Coinberry Logo
Coinsquare Logo

Founded

2018

2018

2017

2015

2011

2014

2012

2014

2016

2017

2014

Headquarters

Toronto, Canada

Calgary, Canada

Cayman Islands

Montreal, Canada

San Francisco, USA

Toronto, Canada

San Francisco, USA

Vancouver, Canada

Toronto, Canada

Toronto, Canada

Toronto, Canada

Platforms

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

Web

Web, iOS, Android

Web, iOS, Android

Web, iOS, Android

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What Is The Best Overall Exchange For Canadians?

Based on using and reviewing 11 popular exchanges, Newton is the best overall. Newton has the second best BTC purchase of 0.69%, 5-30 minute deposits via e-transfer, and 20 cryptocurrencies you can trade. It's also beginner friendly. For the downsides, Newton has slow or non-responsive customer support and slow account verification when there is lots of demand. Despite that, I think Newton is the best overall exchange for most Canadians.

What Is The Best Exchange For Beginners?

All platforms are beginner friendly but Shakepay is the most simple, fastest, and easiest exchange to use. Highlights include a good user-interface, instant deposits, and users that get referred join the ShakingSats program. This lets you shake your phone to earn free Bitcoin every single day.

Which Exchange Has The Lowest Fees?

NDAX had the lowest fees to purchase Bitcoin as cheap as possible (0.50% total purchase fee). This is thanks to a low spread and free deposits. However, the only downside is a $25 fixed fee to withdrawal $CAD and relatively high crypto withdrawal fees. 

What's The Best Place for Altcoins?

Binance offers 300+ altcoins, 0.1% trading fees, and is one of the world's largest crypto exchanges. The best way for Canadians to use Binance is to buy crypto on Newton (or one of the exchanges above) and transfer it to your Binance account. Since Binance is not available in Ontario anymore, Kucoin or Kraken is a good alternative

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