Top three Crypto exchanges in Canada to buy bitcoin

buy bitcoin

Buy bitcoin – When trying to decide which cryptocurrency exchange to use, there is no exact science. It is much like shopping for a bank or a car; you just have to find the right fit. So you should shop around. The following review is of managed cryptocurrency exchanges based in Canada. If you are interested in decentralized exchanges, then you will need to look elsewhere.

Here are a few things to consider while shopping to activate an account:

  • The fee structure
  • Which cryptocurrencies you buy on the exchange
  • Security, KYC and cryptocurrency storage protocols

In this article we review 3 of the top crypto-exchanges in Canada:

  • Bitbuy
  • CoinSmart
  • Newton

These three exchanges have a lot in common regarding regulatory compliance and the ability to link to Canadian bank accounts. The differences lie in the details of their services and the cryptocurrencies that they offer. And you will likely find that you prefer one interface over another. So check each one out.

Newton

Newton is a newer exchange on the Canadian crypto-scene, but they have a few things going for them. For starters, they are a no-fees exchange. Yes, no fees. How are they making money? They deal in larger sized cryptocurrency deals. And like banks and investment firms, they also earn interest off of your money.

The best thing about Canadian exchanges is that you can now buy Bitcoin with Interact and e-transfers right from your bank account. No, Newton does not accept credit cards. This is definitely a way to keep costs down, as credit card charges for merchants add up quickly.

They also have a strong security system with offline cold storage of their cryptocurrency holdings. They have a Plaid partnership, which is a Canadian security management company to protect data, but it is also linked to bank and credit bureau information.

An extra bonus is that they have an easy to use the mobile app, which is always nice.

The list of cryptocurrencies that you can buy is Bitcoin, Ethereum, Litecoin, Ripple, Monero, Tether, Bitcoin Cash, Stellar Lumens, USD Coin, and QCAD.

CoinSmart

CoinSmart is another Canadian exchange, and it has been around for a few years, which demonstrates good staying power. They have low, reasonable trading and transaction fees. There is a 0.2% commission for cryptocurrency sales and a 1% fee for withdrawals.

They also have secure SSL encryption and use cold storage for the majority of their cryptocurrency holdings. CoinSmart follows  Canadian regulations, and so it collects necessary personal data, which is partnered with credit company Equifax and complies with FINTRAC standards.

A couple of perks of CoinSmart are the Smart Guarantee and their referral program. The Smart Guarantee means you can pay a fee to ensure that transactions are completed within a specific time period. And CoinSmart has a referral program that gives you a $25 credit for every person you refer who activates an account with them.

Luminus Financial is a Credit Union that provides banking services to various crypto currency businesses. This means that all of your money with CoinSmart remains in Canada. With the growing success and popularity of cryptocurrencies, regulations around digital assets are in constant flux. So it is wise to keep your funds in a country where you understand the fiscal policies. In the event that your money is in Denmark (let’s say), your finances would become subject to their regulatory policies. This can become an expensive headache.

CoinSmart has 10 cryptocurrencies on its exchange: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, DASH, EOS, NEO, Stellar (XLM), Cardano (ADA)

BitBuy

BitBuy is also a Canadian cryptocurrency exchange. Like the others, it complies with mandatory Canadian KYC standards and is FINTRAC registered. You can also use interact and e-transfers from Canadian banks with BitBuy.

Fees are similar to CoinSmart and are between a 0.1-0.2% commission. They also have high liquidity and a tight margin of the bid-ask spread. The major boon for BitBuy is their live customer support. If you need help, you can call BitBuy and speak to a real person.

The cryptocurrencies they offer are Bitcoin, Ethereum, Litecoin, XRP, Stellar (XLM), EOS, and Bitcoin Cash.

Other articles from mtltimes.catotimes.caotttimes.ca

Quebec looking to make hotel quarantine mandatory

Quebec looking to make hotel quarantine mandatory for those returning from vacation at own expense

Facebook
Twitter
LinkedIn
Email
Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles


The growing need for international trade lawyers in emerging markets

Emerging markets are becoming key players in the global economy. Countries like China, India, Brazil, and several African nations are growing at a fast pace. But, they face tricky trade rules and regulations that can be hard to navigate. As a result, there is a bigger need for an international trade lawyer to help these

guide to freebies

Claim your free stuff in the mail: Ultimate guide to freebies

Have you ever wondered how some people score all sorts of free stuff in the mail? Imagine opening your mailbox to find beauty samples, snacks, or even tech gadgets waiting for you. This is not just a dream; it can be your reality. In this ultimate guide, learn how to get freebies, where to find

staycation

The ultimate guide to planning a long family staycation in Canada

To guarantee that everyone has an amazing time, careful planning is necessary when organizing a lengthy staycation. Here’s the ultimate guide to planning your family staycation in Canada. Canada, with its vast landscapes, diverse cities, and rich cultural heritage, offers endless possibilities for a memorable family staycation. Whether you’re exploring the stunning natural beauty of

Meal kits

Cost vs. Convenience: Analyzing meal kits and traditional cooking

In this modern world and modern times, convenience often takes priority over cost, especially when it comes to food. Meal kits and traditional cooking represent two different approaches to home dining, and each of them has advantages and disadvantages. Analyzing these methods through the lens of cost and convenience provides insight into why individuals might

Condo renovations

Condo renovations Dos and Don’ts: Expert Tips for a Successful Project

Embarking on a condo renovations journey can be both exhilarating and daunting. Imagine transforming your living space into a stylish haven that reflects your personality and meets your needs. While exciting, the process can be full of challenges and unforeseen hiccups. That’s why we’ve gathered some condo renovation dos and don’ts from the experts to

Terrific Hair

Terrific Hair Means Tamanu – Earth to Body

Curly, straight, thick, thin, kinky or silky, tamanu loves and makes terrific Hair.  And scalps. Nutritionally dense yet gentle, tamanu is an effective and versatile nut oil. It stimulates, helps promote growth. prevents hair loss, reduces scalp itch and irritations and adds a natural sheen! Make tamanu a part of your hair and scalp care

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox