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Cryptocurrencies are booming in 2021! Bitcoin had a meteoric rise at the start of the year and many major altcoins have seen great gains too. The most popular and easiest way to buy bitcoin in Canada is through cryptocurrency exchanges.
The best cryptocurrency exchange in Canada can be hard to determine. That’s where Crypto Parrot comes to save the day. Below, we have identified the very best crypto exchange websites and crypto exchange mobile apps that accept Canadian customers.
If your friends haven’t invested in bitcoin or other cryptocurrencies, then you have all certainly talked about it. Cryptocurrency is a digital form of currency that is designed to act as a decentralised payment method. Touted as being free from government interference and regulation, cryptocurrencies have dramatically increased in value over the last few years.
Cryptocurrency leverages advanced cryptography technology on a blockchain network that is distributed across a truly massive number of computer systems. Using cryptography makes it near impossible for bitcoin counterfeiting and leveraging blockchain technology provides total transparency and complete irrefutability.
Before we get into the best cryptocurrency exchange in Canada, refamiliarize yourself with some reasons to trade cryptocurrencies like bitcoin.
While there are a few different ways to buy cryptocurrency in Canada, such as good old fashioned P2P, the best and most popular way is through a licenced cryptocurrency exchange. A cryptocurrency exchange is much like a brokerage website, except that it is focused on cryptocurrency and will have a few bonus features that a broker will not – namely a cryptocurrency wallet.
The best cryptocurrency exchanges allow retail investors to trade crypto in Canada with FIAT currency and cryptocurrencies.
You can buy bitcoin from an individual or through certain brokers, but the best way is with a cryptocurrency exchange. Never fear, buying and selling bitcoin in Canada is easier than you think at the best cryptocurrency exchange in Canada. That is one of many reasons why it is best to buy bitcoin through a cryptocurrency exchange.
Let’s go through the many reasons why the best cryptocurrency exchange in Canada is the ideal platform for buying bitcoin in Canada.
With so many cryptocurrency exchanges available to the Canadian investor, it can be hard to decipher who is the best cryptocurrency exchange in Canada. You’ll be pleased to know, that’s what we at Crypto Parrot are here for! We’ve scoured the crypto exchange marketplace and identified our top picks for the best crypto exchange in Canada.
Coinbase is one of the largest cryptocurrency exchanges in Canada and the trading volume is tough to beat. Coinbase also happens to have one of the best reputations of any crypto exchange in Canada for security and reliability. With multiple ways to fund your account, including PayPal, bank cards, and Wire Transfers.
99% of all Coinbase’s user funds are held in a highly secure offline crypto wallet. This is one of the big pluses of this Canadian bitcoin exchange and certainly adds to the stellar reputation of Coinbase. The user interface at Coinbase is perfect for those who are new and don’t know how to trade crypto in Canada too.
Arguably the most well-established cryptocurrency exchange in Canada, Bitbuy, is host to many unique features that will assist users when trading cryptocurrency in Canada.
Bitbuy actually offers two unique systems for two levels of trader; beginner and experienced. The Express Trade platform will ensure a smooth experience for those new to trading cryptocurrency in Canada, while the Pro Trade system will suit those who know what they are doing.
The market selection at Bitbuy isn’t the biggest but, thankfully, it is a Canadian bitcoin exchange including bitcoin cash. There are also several major cryptocurrency assets available like Ethereum and Litecoin.
Bitbuy provides amazing transparency in their fee structure and there are several prominent Canadian payment methods available like Interac eTransfer. Bitbuy is also compliant and registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
There are lots of great coins and features on offer at Bittrex, the best crypto exchange in Canada including Bitcoin. Their large marketplace has made BitTrex a very popular Canadian bitcoin exchange. Experienced traders looking to take advantage of buying small altcoins early will probably find them at BitTrex. You’ll find several payment methods available and the security features are top-notch – BitTrex leverages Chainalysis KYC technology to monitor web traffic and identify suspicious behaviour.
One of the best things about trading in 2021 is the fact you can trade crypto in Canada on the go. The best crypto currency app in Canada is available on both iOS and Android devices – nobody is left out! Of course, the best bitcoin exchange in Canada will offer an app.
Coinberry is a leading Canadian bitcoin exchange with one of the cleanest looking mobile apps of any best crypto app in Canada. This Canadian bitcoin exchange in Canada offers amazingly high liquidity and probably the fastest refresh rates we have tested at Crypto Parrot.
You’ll want top security features when using an app and Coinberry offers Two-Factor Authorization (2FA) when logging in. There is double the regulatory protection at this best crypto app in Canada with both FINTRAC and Personal Information Protection and Electronic Documents Act (PIPEDA) registration.
Deposits and withdrawals are completely fee-free at this mobile crypto exchange app. So if you’re looking for a cheap and trust-worthy cryptocurrency exchange app, then Coinberry is certainly among the best.
As one of the largest crypto exchanges in the world, it is no surprise that Coinbase offers a fantastic crypto mobile app too. The best crypto mobile app offers much of the same functionality as the web platform and that extends to the very sleek user interface. You can access the rewards function, news headlines, and crypto prices, all from within the app available for Android and iOS devices.
During our review, we found it so easy to sell bitcoin in Canada with the Coinbase mobile crypto exchange app.
When looking for the best cryptocurrency exchange in Canada, you’ll want to look out for a few key factors. An exchange is a good chance of being a contender for the best crypto exchange in Canada if they can fulfil our list of parameters mentioned below.
Volume & Liquidity – If a best cryptocurrency exchange in Canada offers large trading volumes, then you can guarantee that the crypto exchange has high liquidity. This is important because you want to be sure the exchange can fulfil your order at any time. For bitcoin trading, you’ll want to stick to a fairly big Canadian bitcoin exchange to be sure of high liquidity.
Go Mobile – You might decide you really need to sell bitcoin in Canada at the drop of a hat. If so, you’ll need to be sure your chosen best crypto exchange in Canada offers mobile services or an awesome mobile app. Mobile exchanges also allow you to access your account statistics at any time – so you can brag to your buddies about how much bitcoin you just bought!
Promos – Some of the best Canadian bitcoin exchange apps feature promotions such as prizes and rewards for how you trade or even for simply watching some educational material. There is nothing wrong with getting a little something for free if you can manage it!
User Interface – There is no point choosing the best crypto exchange in Canada if you can’t get your head around the UI. Look for a crypto exchange that is simple to look at and fairly intuitive. The easier a platform is to use, the much faster you’ll be able to take advantage of bitcoin market movements or jump on the hottest new cryptocurrency in Canada.
Trading Costs – Check to see how transparent the fee structure is at a crypto exchange. Some may hide their charges as best they can, while the best crypto exchange in Canada will clearly state all fees including non-trading fees. Some exchanges add their fee into the margin but clearly explain how the calculation is completed for full transparency.
Payment Methods – See what deposit and withdrawal methods are allowed. Some methods may only be accepted for deposits and not withdrawals – keep your eyes peeled.
We at Crypto Parrot firmly believe that the best cryptocurrency exchange in Canada is truly the only way to buy bitcoin and other cryptocurrencies safely. It’s just so easy to get started and the best crypto mobile apps in Canada provide so much assistance for beginner traders too.
Just register a quick account and fund using one of the many payment methods accepted by Canadian bitcoin exchanges. For more information on trading at a cryptocurrency exchange, Crypto Parrot will always be ready to give you the assist!
Everything has a beginning or a first. Even a financial instrument, be it stocks, crypto, or ETFs had to start somewhere. That first cryptocurrency is bitcoin. Launched in 2009 as a decentralized currency to rival that of the world’s banks. Bitcoin is still the world’s largest cryptocurrency and one of the hottest assets in the world of finance today. After more information on the world of crypto? Head on over to Crypto Parrot and uncover a wealth of guides, reviews, tips and tricks to boost tour crypto experience.
Without the blockchain, there would be no cryptocurrency. It is the foundation for the entire technology and vital to its tremendous security advantages, transaction speeds, anonymity and transparency. Just think of a blockchain as a series of irrefutable, unchangeable blocks that are linked to one another. They cannot be altered once data is entered and the recording is permanent.
Unfortunately, very few things in life are free and that goes for crypto trading too. Thankfully, fees are usually quite low and affordable. Trading fees at crypto exchanges will vary between the different exchanges, so there is no set trading fee value online. Be sure to check out our operator reviews over at Crypto Parrot, to uncover what fees you could be subject to,