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

25+

16

350+

2

50+

20+

40+

7

9

19

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 + any other 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

Cell

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

Cell

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

Cell

The Best Crypto Exchanges for Canadians:

  1. Best Overall: Newton
  2. Best for Beginners: Shakepay / Newton
  3. Cheapest Overall: Newton / NDAX / Binance
  4. Best for Altcoins: Binance
  5. Most Features: Binance
  6. Best for Advanced Traders: Binance / NDAX
  7. Best Reputation: Kraken / Coinbase / Binance

What Is The Best Overall Exchange For Canadians?

Based on using and reviewing 15 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

More Reviews and Comparisons

Still can't decide? Here are other popular comparisons you might be interested in:

Overall Rankings 2021

Newton Crypto Exchange

Best overall:

1. Newton

Total Fee:

0.69%

Binance Exchange

Best for altcoins:

2. Binance

Total Fee:

2.24%

NDAX Exchange

Best purchase fees:

3. NDAX

Total Fee:

0.50%

VirgoCX Exchange

Low purchase fees:

4. VirgoCX

Total Fee:

0.66%

Shakepay Exchange

The easiest:

5. Shakepay

Total Fee:

1.43%

Kraken Exchange Logo 1

Best reputation:

6. Kraken

Total Fee:

0.80% + $1.25

Other Exchanges:

These exchanges didn't make the top list. However, there could be certain use cases for specific investors.

Crypto.com App

Staking & Visa Cards:

7. Crypto.com

Total Fee:

1.52%

Quick Trade by Coinsquare

Beginner-friendly:

8. Quick Trade

Total Fee:

1.48%

Netcoins Exchange

Average all around:

9. Netcoins

Total Fee:

1.41%

Coinbase Exchange

Earn free crypto:

10. Coinbase

Total Fee:

4.55%

Wealthsimple Trade Crypto Logo

Crypto in your TFSA:

11. Wealthsimple

Total Fee:

3.48%

Bitbuy Exchange

User-friendly:

12. Bitbuy

Total Fee:

2.29%

Coinberry Logo

High spreads:

13. Coinberry

Total Fee:

2.83%

Coinsmart Exchange

Expensive:

14. Coinsmart

Total Fee:

2.60%

Coinsquare

Legal trouble in 2020:

15. Coinsquare

Total Fee:

0.72%

Newton Crypto Exchange

1. Newton: Best Overall

Coins: 20

Total Purchase Fee: 0.69%

Spread: 1.27%

HQ: Toronto

Newton had the 2nd lowest total purchase fee (0.69%), offers 20 coins, and has zero trading fees. They also are very transparent and show their spread in real time. Their downsides are slow customer service and sometimes new users take days or weeks to get verified.

I ranked Newton 1st overall because if it's overall low fees for purchasing and withdrawing crypto and it currently has the most coins on a Canadian based platform.

Pros & Cons

  • 2nd lowest total purchase fee (0.69%) out of 12 exchanges 
  • Free deposits/withdrawals and fast interac e-transfers
  • Sleek mobile app and web app
  • Most coins on a Canadian based exchange (20)
  • Bad customer support
  • Slow verification sometimes
  • Minimal features (eg. no limit orders) 

More Details

  • No limit orders
  • Slow verification
  • Slow, sometimes unresponsive customer support
  • Cheap crypto withdrawal fees (Newton covers first $5 of network fees)
  • Promotion: $25 free when you trade $100
Binance Exchange

2. Binance: Best for Altcoins

Binance has 350+ cryptocurrencies, 0.1% trading fees and is one the largest exchanges in the world. It's not based in Canada however, its a good option for investors and traders that want more features or coins than what Canadian exchanges offer. There's tons of features for advanced users like staking, loans, margin, and more.

Binance is best for Canadians who want to buy altcoins that are not available on Canadian crypto exchanges or people who want to explore advanced charts and features. The best way to fund your Binance account cheaply is to purchase crypto on a Canadian exchange such as Newton then transfer it to Binance.

Pros & Cons

  • Trade 350+ altcoins (way more than any Canadian exchange)
  • Many advanced features and charts
  • One of the largest exchanges in the world
  • High volume, tight spreads, 0.1% trading fees or less
  • Can't connect CAD bank account (best option is to deposit crypto)
  • Not available in Ontario anymore
  • Slow support according to reviews

More Details

  • Only requires an email to open an account
  • Could be overwhelming for beginners
  • Not available in Ontario
  • Promotion: 10% off trading fees
NDAX Exchange

3. NDAX: Best Purchase Fees

Coins: 12

Total Purchase Fee: 0.50%

Spread: 0.40%

HQ: Calgary

NDAX is a great, trustworthy platform with 12 coins, tight spreads (0.40%), and a 0.20% trading fee. The downside is relatively high withdrawal fees. There is a $25 fee to withdraw fiat and slightly expensive crypto withdrawal fees. I ranked this platform 2nd overall because of it's very low purchase fees and variety of coins.

Pros & Cons

  • Lowest total purchase fee (0.50%) out of 12 exchanges 
  • Free deposits and fast interac e-transfers
  • Beginner and advanced trading page
  • Live chat support
  • $25 fee for $CAD withdrawals
  • Higher crypto withdrawal fees
  • Mobile app is still in beta

More Details

  • Advanced charts
  • Recurring purchases feature
  • Best for: Lowest purchase fees in Canada with all fees included
  • Promotion: $10 free when you trade $100
VirgoCX Exchange

4. VirgoCX

On the way.

More Details

  • Low fees
Shakepay Exchange

5. Shakepay: For Under $500/mo

Shakepay is ideal for people investing under $500/month that want to send crypto to a different wallet. This is because it's the only exchange with free crypto withdrawals so you won't get hit with $10-$40 withdrawal fees. Also, if you're referred or refer a friend you get access to the Shaking Sats program where you can shake your phone for free Bitcoin every day.

More Details

  • Offers limit orders and recurring buys 
  • Only has BTC and ETH
  • Get $30 free when you trade $100
Kraken Exchange Logo 1

6. Kraken: A Good Reputation

Kraken is an OG in the crypto space. They've been here since 2011 and have 40+ coins for Canadians to trade with low spreads and low fees. Kraken would be higher up the list but they don't have e-transfer deposits or easy funding options for Canadians. You must go in person to Canada post or fund using a wire transfer or third party.

More Details

  • Tight spreads (2nd place after Binance)
  • Beginner and advanced features
  • Low reviews on their mobile app
Crypto.com App

7. Crypto.com

On the way.

More Details

  • On the way.
Quick Trade by Coinsquare

8. Quick Trade

On the way.

More Details

  • Very beginner-friendly
Netcoins Exchange

9. Netcoins: Average All Around

Netcoins has a 1.41% purchase fee which is 5th place out of 11 exchanges. It's also easy to use and has fair fees. Netcoins is not a bad exchange by any means, but it doesn't stick out with amazing fees or features compared to the platforms higher on this list.

More Details

  • Easy and fast account opening
  • Live chat and phone support during business hours
  • Good user experience but no mobile app
  • Get $10 free when you trade $100
Coinbase Exchange

10. Coinbase: Earn Free Crypto

Coinbase is very expensive to fund with CAD (3.99% fees and up). However, it's useful if you want to earn free crypto on the platform through Coinbase Earn. Essentially, you get paid for watching educational crypto videos. They also have 41 cryptocurrencies and it's one of the most trusted exchanges in the world.

More Details

  • Has Coinbase Pro for experienced traders
  • Limited payment methods (only 1)
  • Get $12 free when you trade $125
Wealthsimple Trade Crypto Logo

11. Wealthsimple Crypto: BTC in Your TFSA

WS Crypto has the least number of features and the second highest total purchase fee at 3.48%. The main advantage is you can use Wealthsimple Trade to buy a BTC ETF or ETH ETF in your TFSA account if you want tax-free gains. Other than that, hopefully they can lower fees and add more features.

More Details

  • Only has BTC and ETH
  • Can't withdraw your crypto
  • Instant funding is capped at $250
  • Get $10 free when you trade $100
Bitbuy Exchange

12. Bitbuy

Bitbuy has a 1.50% fee for CAD$ deposits and withdrawals which dramatically adds to their total fees. If they removed that fee it could shoot up the rankings because it's a solid platform with 7 coins, express trading, pro trading, a transparent order book, and one of the best designed interfaces in my opinion.

More Details

  • Expensive deposit and withdrawal fees
  • Get $20 free when you deposit $250
Coinberry Logo

13. Coinberry

Coinberry offers 6 coins and a total purchase fee of 2.83% from my tests. This fee comes via the spread which is very high relative to the options listed above. 

More Details

  • Can't withdrawal some coins
  • High spreads (3.32% on Mar 01)
  • Coinberry Pay: Start accepting crypto payments
  • Get $20 free when you trade $50
Coinsmart Exchange

14. Coinsmart

On the way.

More Details

  • On the way
Coinsquare

15. Coinsquare

Coinsquare is rebuilding their reputation. In 2020, new management was hired due to wash trading and a market manipulation trial. So far they are doing a good job with a 0.72% purchase fee, beginner and pro features, and launching a new Quick Trade app. However, due to it's past I still feel safer using other platforms at this time.

More Details

  • Good user-interface
  • Launched a new Quick Trade app
  • Get $10 free when you deposit $100

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