Cryptocurrency trading is booming in Canada. Did you know that over 13% of Canadians now own some form of cryptocurrency? This surge in popularity means there are more exchanges than ever before.
But how do you choose the right one?
With so many options, you can feel overwhelmed. Some exchanges offer low fees but compromise on security. With other, there are great features but it can be hard to use.
What you need is a platform that delivers everything you need in a single punch. This means going over the important details. Call it cherrypicking, but in the crypto industry, it’s all about the details.
This guide will help you navigate these options and find the best cryptocurrency exchanges for your needs.
Our Experience – Why Trust Us
Why should you trust our recommendations? The answer’s simple- Our team has years of experience in the cryptocurrency industry. We’ve traded on numerous platforms, and we’ve seen the good, the bad, and the ugly.
Plus, we also know what features in cryptocurrency exchanges matter most to users, from robust security to user-friendly interfaces.
To ensure our reviews are accurate and reliable, we thoroughly test each crypto exchange ourselves. We don’t just rely on second-hand information; we create accounts, make trades, and explore every feature these platforms offer.
We’ve also read plenty of reviews from other users to understand common issues and standout features.
Our goal is to give you a comprehensive, unbiased look at the best Canadian crypto exchanges.
How the Exchanges Were Selected
Selecting the best Canadian crypto exchanges wasn’t an easy task. So, we used a detailed process to ensure we only recommend the top platforms.
First, we looked at security. Security is critical in the world of cryptocurrency exchanges. We checked whether crypto exchanges have strong security measures like two-factor authentication (2FA), cold storage for funds, and insurance against hacks.
Then, we considered user experience. We signed up, verified our identities, and made trades on each platform. We then made notes on how easy or difficult it was to navigate the cryptocurrency exchanges, make transactions, and access customer support.
Fees were another crucial factor. Trading fees, withdrawal fees, and deposit fees can add up. So, we compared the fee structures of different exchanges to find the most cost-effective options for users.
We also looked at the range of cryptocurrencies available. Some crypto exchanges offer a wide variety, while others focus on just a few. We wanted to ensure there’s something for everyone, whether you’re looking to trade popular coins like Bitcoin and Ethereum or lesser-known altcoins.
Lastly, we evaluated customer support. Good customer support can make a huge difference, especially when you’re dealing with your money. We assessed how quickly and effectively each exchange’s support team responded to our queries.
Buyers Guide – Advice for Choosing the Right Exchange
Selecting the optimal crypto exchange involves careful consideration of several crucial factors:
Security
The security protocols of an exchange are paramount. Before selecting a crypto exchange, you should ensure that the platform employs robust security measures such as two-factor authentication (2FA), cold storage for funds, and comprehensive insurance policies.
These features are essential to safeguard your investments against potential cyber threats.
Regulatory Compliance
The next step is to verify that the exchange adheres to local regulatory requirements. In Canada, this includes compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
Regulatory compliance ensures a safer and more trustworthy trading environment.
Reputation
The best crypto exchanges have an excellent reputation, so conduct thorough research and examine user reviews and the exchange’s operational history.
If it has a solid reputation and positive feedback from users, it is generally more dependable.
Fees
Your profit margins matter, so analyze the fee structures of different exchanges, including trading fees, deposit fees, and withdrawal fees. Understanding these costs is vital to avoid unexpected expenses and to maximize your trading profits.
Convenience
For those new to cryptocurrency trading, a user-friendly interface is essential.
So, choose platforms that offer intuitive navigation and straightforward processes. This way, you significantly reduce the learning curve and enhance your trading experience.
Customer Support
The better the customer support system of your chosen Canadian crypto exchange, the quicker your issues will get resolved.
So, assess the availability and responsiveness of support channels such as live chat, email, and phone support.
Range of Cryptocurrencies
You should also consider the variety of cryptocurrencies available on the exchange. Some popular crypto exchanges focus on major coins like Bitcoin and Ethereum, while others offer a diverse selection of altcoins.
So, only select a crypto exchange that provides access to the specific cryptocurrencies you wish to trade.
Comparison Table
Here’s a detailed comparison table of the top crypto exchanges in Canada. This table includes vital specs, features, fees, and more:
| Feature / Exchange | Binance Canada | Coinbase Canada | Kraken Canada | Bitbuy | Coinsmart | NDAX | Wealthsimple | Newton | VirgoCX |
| User Interface | Advanced | Beginner-friendly | Intermediate | Intermediate | Beginner-friendly | Advanced | Beginner-friendly | Intermediate | Intermediate |
| Security | High (2FA, cold storage) | High (2FA, insurance) | High (2FA, cold storage) | High (2FA, cold storage) | High (2FA, cold storage) | High (2FA, cold storage) | High (2FA, encryption) | High (2FA, cold storage) | High (2FA, cold storage) |
| Supported Cryptos | 500+ | 100+ | 70+ | 25+ | 10+ | 20+ | 50+ | 30+ | 50+ |
| Trading Fees | 0.1% per trade | 1.49% per trade | 0.16% maker, 0.26% taker | 0.20% per trade | 0.20% per trade | 0.20% per trade | Free trading, spread included | 0.10% per trade | 0.20% per trade |
| Deposit Fees | Free/Varies by method | Free bank transfer, 3.99% credit card | Free | 1.50% Interac e-Transfer | Free bank transfer, 1.50% Interac e-Transfer | Free | Free | Free | Free |
| Withdrawal Fees | 0.0005 BTC | 0.0005 BTC | 0.0005 BTC | 1.50% Interac e-Transfer | 1% bank transfer | $25 bank transfer | Free bank transfer | Free bank transfer | Free bank transfer |
| Fiat Currency Supported | CAD, USD, EUR | CAD, USD | CAD, USD, EUR | CAD | CAD, USD | CAD | CAD, USD | CAD | CAD, USD |
| Mobile App | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Customer Support | 24/7 Chat | 24/7 Chat, Email | 24/7 Chat, Email | Email, Phone | 24/7 Chat, Email | Email, Phone | Email, Chat | Email, Chat | Email, Chat |
| Regulation | FINTRAC | FINTRAC | FINTRAC | FINTRAC | FINTRAC | FINTRAC | OSC, FINTRAC | FINTRAC | FINTRAC |
| Unique Features | Wide range of services including futures and staking | Insurance on USD balances, easy integration with wallets | Advanced trading tools, futures, margin trading | High liquidity, quick verification process | Quick buy/sell, credit card purchases | High liquidity, OTC trading | Simplified trading experience, no trading fees | No trading fees, fast verification | OTC trading, no trading fees |
| Referral Program | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Advanced Trading Features | Futures, margin trading, staking | No | Futures, margin trading, staking | No | No | Yes | No | No | No |
Current Trends in the Canadian Crypto Market
Cryptocurrency trading is growing fast in Canada. Over 13% of Canadians now own some cryptocurrency. Why is this happening? More people are seeing the value of digital money, and technology is also making it easier to trade. The crypto market is booming, and many want to join in.
This trend is also highlighted in figures from Statista, with revenue in the cryptocurrency market projected to reach US$1.7bn in 2024.
Legal and Regulatory Framework
Canada has clear rules for crypto trading. Exchanges must follow anti-money laundering (AML) and know-your-customer (KYC) laws.
The importance of this is pretty clear—it helps prevent fraud and keeps the market safe. The Canadian Securities Administrators (CSA) ensure that exchanges follow these rules, which gives traders confidence and makes the market stable.
FINTRAC, the Financial Transactions and Reports Analysis Centre of Canada, is a government regulatory body that detects, prevents, and deters money laundering and the financing of terrorist activities.
It also ensures the protection of personal information under its jurisdiction.
Choosing the Best Crypto Exchange in Canada
Without further ado, let’s get right into things:
- Binance Canada- Best for Leverage Traders
Binance offers many cryptocurrencies and trading pairs, including advanced tools like margin trading and futures, which are great for experienced traders.
Binance also has high liquidity. This means you can make trades quickly, even during busy times. The trading platform also provides lots of educational resources and trading tools to help traders make informed decisions.
Pros
- Trading on Binance is cost-effective, making it cheaper for frequent traders.
- With over 100 cryptocurrencies, Binance offers diverse trading options.
- The platform provides features like margin trading and futures, which are ideal for serious traders.
- Trades are executed quickly, even in peak times, ensuring smooth transactions.
Cons
- The platform can be challenging to navigate for beginners due to its many features and options.
- Customer service can be slow to respond, which can be frustrating if you encounter issues.
Why is it the best?
Binance is the best for leverage traders because it offers advanced tools and low fees. Its high liquidity and diverse options make it a top choice for serious traders.
- Coinbase Canada- Best for Beginners
Coinbase’s biggest pro is that it’s very user-friendly. This makes it great for people new to crypto. The platform has many educational resources, where you can quickly learn about trading and how to use it.
Coinbase also offers secure storage and insurance for digital assets and supports a range of payment methods, including bank transfers and credit cards.
Pros
- Easy to navigate, perfect for beginners.
- Provides plenty of learning materials to help new traders.
- Offers secure storage and insurance for digital assets.
- It supports various payment options, making it easy to fund your account.
Cons
- The platform charges higher fees compared to some other exchanges, which can reduce profits.
- There are fewer options for experienced traders who need advanced tools.
Why is it the best?
Coinbase is the best for beginners because it is easy to use and has excellent learning resources. Additionally, its secure storage and insurance add extra peace of mind for new users.
- Kraken Canada- Best for Advanced Traders
Kraken supports many advanced trading tools, including futures and margin trading. Kraken also has detailed charts and tools for professional traders. It offers staking options and supports various fiat currency for deposits and withdrawals. As one of the most popular crypto exchanges around, it’s expectedly very secure and supports many cryptocurrencies.
Pros
- Offers futures, margin trading, and detailed charting tools.
- Cost-effective for frequent trading.
- Robust security measures protect crypto assets.
- Supports a diverse array of digital assets.
Cons
- It can be challenging for beginners to navigate.
- The user interface is not as straightforward as some other exchanges.
Why is it the best?
Kraken is the best for advanced traders because of its strong security and many trading tools. Also, its advanced features and low fees make it ideal for experienced users.
- Bitbuy- Best Overall for Canadians
While other popular crypto exchanges like Coinbase and Binance are accessible to Americans, Bitbuy draws attention for not offering its services in the same jurisdiction. As a result, it’s not available in the USA, but Canadians can easily access it.
It’s one of the best crypto exchanges in Canada, allowing you to purchase crypto in Canadian dollars and enjoy the support of many cryptocurrencies and excellent customer service. The platform offers Express Trade for quick transactions and Pro Trade for more advanced trading needs.
Pros
- Makes trading convenient for Canadian users.
- Affordable for regular trading.
- Provides helpful and responsive support.
- Easy to navigate, even for beginners.
Cons
- Fewer options compared to global exchanges.
- It may not meet the needs of experienced traders looking for more tools.
Why is it the best?
Bitbuy is the best for Canadians because it is tailored to their needs and offers strong support. Trading in Canadian dollars and having excellent customer service make it a top choice for local users.
- Coinsmart- Best for New and Pro Investors
Coinsmart has a simple and easy-to-use interface that’s perfect for users who want a straightforward experience. The platform is also big on security, falling under the purview of FINTRAC.
This well established crypto exchange also provides a SmartTrade feature for direct crypto-to-crypto trading.
Pros
- Global presence including several countries across Europe, Africa, and Asia.
- Backed by 2 Canadian banks
- Quick account verification allows users to start trading promptly.
- Cost-effective for regular use.
- Simplifies the trading process by allowing direct crypto-to-crypto trades.
Cons
Lacks the tools needed by experienced traders.
- Supports fewer digital assets compared to some other platforms.
Why is it the best?
Coinsmart is ideal for investors on either end of the experience spectrum. Whether you’re a seasoned pro or a newbie investor, there’s plenty of value to be had.
As one of the best Canadian crypto exchanges, it stands out for its easy interface and quick verification.
- NDAX- Best for Variety
NDAX was established to serve both retail and institutional clients. As one of the best crypto exchanges in Canada, its philosophy involves collaborating with regulators and financial institutions to set the benchmark for the Canadian cryptocurrency industry.
NDAX supports a wide range of cryptocurrencies and boasts strong security and competitive fees. The platform offers advanced trading options and supports multiple trading pairs.
NDAX also has an OTC desk for large trades and supports Canadian dollar transactions.
Pros
- Offers many trading options.
- Affordable for frequent traders.
- Protects user digital assets with robust measures.
- Provides options for large volume trades.
Cons
- The platform can be challenging for new users to navigate.
- Support responses can sometimes be slow.
Why is it the best?
NDAX is a favored and trusted crypto exchange because of its wide range of supported cryptocurrencies and low fees.
- Wealthsimple- Best for Crypto Investing
As one of the best crypto exchanges around, Wealthsimple makes it easy to invest in cryptocurrencies. It integrates with other investment options. As Canada’s first regulated platform, you enjoy a user-friendly and secure front for trading and insurance for your digital assets.
On the crypto exchange, you can trade and stake Bitcoin, Solana, Ethereum, and 60+ coins. Wealthsimple holds your digital assets in trust and securely stores them with our custodial partners. In the unlikely event of insolvency, your assets remain your property.
Pros
- Simple interface makes it accessible.
- Allows users to manage various investments in one place.
- Protects assets with solid security measures.
- Provides additional protection for digital holdings.
Cons
- Costs more to use compared to other crypto exchanges
Why is it the best?
Wealthsimple is the best for keen Canadian crypto investors who want to manage all their assets and finances, including mortgages and portfolios, from one single dashboard. Its secure storage and insurance provide peace of mind for Canadian crypto investors.
- Newton- Best for OTC Trading
With a selection of over 60 cryptocurrencies, Newton offers more choices for crypto enthusiasts and investors. Best of all, it has a new OTC service.
Newton OTC offers access to deep liquidity and personalized service for Newton users trading $30,000 or more. You’ll be assigned a dedicated relationship manager who will work with you one-on-one to ensure effective management of your high-value trades.
There are deep pools of liquidity as the crypto exchange lets you collaborate directly with liquidity providers to offer you the best possible prices for your trades. There are also competitive trading fees with no charges for funding or withdrawals.
Newton’s OTC desk does not hold custody of your funds or crypto assets; instead, it executes your orders and settles them directly to your chosen crypto wallet or bank account.
Pros
- Minimizes trading costs, making it affordable for frequent use.
- Easy to navigate and use.
- Protects user assets with robust security measures.
- Offers a wide range of trading options.
Cons
- No fee calculator in the app
- Lacks some tools needed by experienced traders.
- Transactions can sometimes be slower compared to other platforms.
Why is it the best?
Newton OTC employs rigorous security measures, including crypto wallet whitelisting and automated identity verification checks, to ensure your transactions are secure.
Their OTC desk and support team will work closely with you to ensure your trades and profile are set up swiftly and seamlessly.
Overall, Newton offers very low fees and a user-friendly interface. It supports many cryptocurrencies and provides a secure trading environment as a top crypto exchange in Canada.
Why is it the best/why you use it?
Newton is the best for low fees because of its minimal trading costs and easy interface. It is perfect for those who want to keep trading expenses low.
- VirgoCX: Best for Security
VirgoCX cryptocurrency exchange offers a versatile terminal for trading both fiat currency via either crypto-crypto or crypto-fiat pairs. The platform supports Bitcoin, Ethereum, Tether, Bitcoin Cash, Stellar, and many other cryptocurrencies. You can trade using US dollars (USD) and Canadian dollars (CAD).
One of its key features is the absence of trading commissions. Fees are only charged for withdrawing crypto holdings and sometimes for deposits. This policy also applies to over-the-counter trading on the cryptocurrency exchange.
The exchange follows a transparent financial policy with no hidden fees. It supports popular depositing and withdrawing options, including bank transfers and cryptocurrency wallets. While there are no investment programs, two referral programs offer users a way to earn passive income on the cryptocurrency exchange.
Pros
- Provides strong security measures to protect assets.
- Offers affordable trading costs.
- Provides a diverse range of trading options.
- Assets are insured, which gives an extra layer of protection for users.
Cons
- The platform can be more complicated to navigate for beginners.
- It may not meet the needs of experienced traders looking for more tools.
Why is it the best/why you use it?
VirgoCX is the best for security because it prioritizes safety and has strong protection measures. Its competitive fees and diverse range of cryptocurrencies make it a secure and versatile choice.
With a strong focus on security, VirgoCX offers two-factor authentication, cold storage, and insurance. The platform supports many cryptocurrencies and offers competitive fees. VirgoCX also has a mobile app available on the App Store and Google Play.
Factors to Consider When Selecting an Exchange
Choosing a cryptocurrency exchange in Canada can be tricky. How do you find the right one? Here’s a simple guide to help you.
Know the Rules
First, understand the Canadian regulations. Why? Because following the rules keeps your money safe. Look for exchanges registered with FINTRAC which indicates that means they follow anti-money laundering (AML) and counter-terrorist financing (CTF) laws.
You don’t want to get associated with the dark side!
Check Security
Is security important? Absolutely! Make sure the exchange has strong security measures. The top criteria here include two-factor authentication (2FA), encryption, and cold storage.
Look at Liquidity and Volume
Why is liquidity important? It helps you buy and sell quickly without big price changes. So, choose an exchange with high trading volume so that you can get better prices and smoother trades.
Compare Fees
Different exchanges have different fees. Some have low trading fees but high withdrawal fees.
You don’t want to lose large chunks of your profits to fees you didn’t anticipate, so check the total cost and look for exchanges with transparent fee policies.
Check Available Cryptocurrencies
You should also make sure the exchange supports those cryptocurrencies. Most significant exchanges offer Bitcoin, Ethereum, and other popular coins.
However, some don’t offer many lesser-known altcoins, so you’ll have to check the list of supported cryptocurrencies.
User Experience and Support
Is the exchange easy to use? Does the exchange offer good customer support?
Good user experience and quick and helpful support are crucial. So, look for an intuitive interface, useful guides, and a reputation for solving problems quickly.
Payment Methods
It’s essential to check the payment methods to see if your preferred withdrawal or deposit method is available. Reliable exchanges offer bank transfers, credit/debit cards, and cryptocurrency transfers, so you can choose the one that suits you best.
If you’re interested in more than just trading? Some exchanges offer staking, lending, and OTC trading. These features can provide extra income, and if you are interested in them, you can also find an exchange that offers them.
Reputation
You should also read reviews and testimonials and look for exchanges with good reputations. Avoid those with security breaches or scandals.
Comparing Fees, Security, and Services
When selecting a cryptocurrency exchange, what should you focus on? Fees, security, and services are three crucial factors. Let’s dive into why each of these matters and how they can influence your decision.
Analysis of Fees Across Different Platforms
Fees matter because they can eat into your profits. Different exchanges have different fee structures, but some charge low trading fees and high withdrawal fees. Others might have no deposit fees but higher trading fees.
Think about this: Are you a frequent trader? Then, trading fees will impact you more. Do you plan to withdraw often? Withdrawal fees will be more relevant.
So, always look at the total cost, as hidden fees can surprise you. Transparent fee policies are essential, as they help you understand exactly what you’re paying.
How Safe Is Your Money?
Is security a big deal? Absolutely! Your investments need to be safe. Security measures vary between exchanges. What should you look for? Two-factor authentication (2FA) is a must. It adds an extra layer of protection.
Encryption is another critical feature, as it ensures your data is secure. Also, consider cold storage. This means keeping most of the assets offline, away from hackers.
So, look for exchanges that have never been hacked. Past security breaches can be red flags.
Remember, a secure exchange protects your money from threats!
Security Features and User Safeguards
Different exchanges offer different services. If you are just looking to trade, a simple exchange might work.
Or do you want more? Some exchanges offer extra features like staking, lending, or over-the-counter (OTC) trading.
Think about customer support. Is it easy to get help when you need it? Good support can save you time and frustration. User experience matters, too, as an intuitive interface makes trading easier.
Making the Right Choice
Balancing these factors depends on your needs. If low fees are crucial, you might compromise on extra services. If security is your top concern, you might pay a bit more, so think about what matters most to you.
Best Decentralized Crypto Exchanges in Canada
Unlike centralized exchanges, DEXs allow users to trade directly from their wallets, providing greater control over their assets.
Here are some of the best decentralized crypto exchanges available to Canadian users, each with unique features that set them apart.
- Uniswap- Best for Decentralized Trading
Uniswap stands out as one of the most popular DEXs globally and is widely used in Canada.
What makes Uniswap unique? Its automated market maker (AMM) model. This model uses smart contracts to pool liquidity from users, allowing trades without the need for a traditional order book.
Uniswap’s simplicity and ease of use are unmatched. It also supports a wide array of tokens on the Ethereum blockchain.
- SushiSwap: Best Community-Driven Platform
SushiSwap, a fork of Uniswap, has carved out its niche by focusing on community governance and rewards. It offers additional incentives to its users through yield farming and staking.
For every time you stake the native token, SUSHI, you can earn rewards from trading fees. Moreover, SushiSwap is not just limited to Ethereum. It has expanded to other blockchains like Binance Smart Chain and Polygon, providing more options for Canadian users and providing cross-chain compatibility.
- PancakeSwap: Best DEX on BSC
Although PancakeSwap is not exclusive to Canada, its unique positioning on the Binance Smart Chain (BSC) makes it a valuable option. What sets PancakeSwap apart are its low transaction fees and faster confirmation times compared to Ethereum-based exchanges.
The crypto exchange uses an AMM model similar to Uniswap but leverages the benefits of BSC. It also offers fun features like lotteries and NFT collectibles, making it more than just a trading platform.
- Balancer: Best Flexible Liquidity Protocol
Balancer offers a unique twist on the AMM model by allowing customizable liquidity pools, letting users create pools with multiple tokens and varying weights, providing flexibility not seen in other DEXs.
For instance, you can have a pool with 80% ETH and 20% BTC or any other combination. This flexibility allows for innovative investment strategies and efficient portfolio management. Balancer’s innovative approach to liquidity pools sets it apart from other DEXs.
- Curve Finance: Best for Stablecoins
Curve Finance is the best decentralized crypto exchange for trading stablecoins efficiently. Its focus on stablecoins and low fees provides a specialized service that appeals to users who want stability in their trades.
Its algorithm is optimized for low-slippage trades between stablecoins and other assets with similar prices. This makes it ideal for users looking to engage in liquidity mining with minimal risk.
- 1inch: Best DEX Aggregator
1inch distinguishes itself by being a DEX aggregator rather than a traditional exchange.
It works by scanning multiple DEXs to find the best prices for your trades, ensuring you get the most value. By using 1inch, Canadian traders can access a wide range of liquidity sources without manually checking each DEX.
This smart routing of trades optimizes prices and reduces slippage, making it a powerful tool for serious traders and one of the best crypto exchanges in Canada.
- Bancor: Best for Single-Sided Liquidity
Bancor offers a unique feature known as single-sided liquidity provision. Here, users can provide liquidity with a single token without needing to pair it with another, reducing the risk of impermanent loss.
Bancor’s protocol also includes an automated compensation system to mitigate this risk further. For users wary of the complexities of traditional liquidity provision, Bancor’s approach offers a more straightforward and safer alternative.
- Kyber Network: Best On-Chain Liquidity Protocol
Kyber Network has an on-chain liquidity protocol that aggregates liquidity from various sources. This helps investors get instant token swaps without the need for an order book, enhancing transparency and security.
Kyber’s integration with multiple DEXs and DeFi platforms makes it a versatile choice for users looking to engage in various DeFi activities beyond simple trading.
Benefits of Using Decentralized Exchanges
Decentralized exchanges (DEXs) offer a range of benefits that appeal to cryptocurrency traders in Canada.
Enhanced Security
One of the primary benefits of using DEXs is enhanced security. Unlike centralized exchanges, DEXs do not hold your crypto holdings. Instead, trades occur directly between users’ wallets through smart contracts.
This reduces the risk of hacks and theft, as there are no centralized points of failure.
Better Privacy
DEXs are an attractive option for those who value their privacy and want to maintain anonymity while trading.
They offer greater privacy compared to their centralized counterparts. Users do not need to go through extensive identity verification processes, commonly known as Know Your Customer (KYC) checks.
Control Over Assets
With DEXs, you have complete control over your assets and are not required to deposit your funds into an exchange’s wallet. Instead, you trade directly from your personal wallet, retaining ownership and control throughout the process.
This self-custody approach aligns with the core principles of decentralization and autonomy.
Wide Range of Tokens
DEXs often support a more comprehensive range of tokens than centralized exchanges. This can be particularly beneficial for traders looking to diversify their portfolios or invest in emerging cryptocurrencies.
By listing new and lesser-known tokens quickly, DEXs ensure that you can enjoy soon access to a broader selection of assets.
Lower Fees
Decentralized exchanges typically have lower fees compared to centralized platforms. There are no intermediaries taking a cut from each trade, which can result in significant savings, especially for frequent traders.
Additionally, DEXs generally avoid deposit and withdrawal fees.
Censorship Resistance
Operating on blockchain technology, DEXs offer censorship resistance. This means they are less likely to be subject to regulatory shutdowns or government interference.
For Canadian users, this provides a layer of assurance that their trading activities can continue uninterrupted.
Wrapping Up
With the SEC tightening things up in Canada’s southern neighbor, the crypto industry in Canada is one of the most dynamic anywhere in the world. There are plenty of quality crypto exchanges where you can trade, stake, earn, invest, and otherwise diversify your portfolio.
However, the ultimate choice comes down to your needs, so ensure that you do your due research to identify what works best for you.