Cryptocurrency Exchanges

A free beginner guide on cryptocurrency exchanges.

What is a cryptocurrency exchange?

A cryptocurrency 'Exchange' is a website where you can use Canadian dollars to buy cryptocurrency. Currently, however not all exchanges will accept Canadian dollars. Other ways to get cryptocurrency include using Bitcoin ATMs, private exchanges, or even storefronts. However, these alternatives typically aren't as desirable because they come with higher fees, increased risk of fraud, and inconveniences.

There are many exchanges that claim to be open to Canadian users, however, from our experience we found that many have unexpected roadblocks. For example, Gemini provided International Wire Transfer instructions, however, our bank (RBC) refused to send to them. However, your personal bank may be different. The following list of exchanges we have had positive experiences with, and are highly recommended by the cryptocurrency community at large.


  • — No Wait Period - Buy without a verification delay

  • — Pay with credit card

  • — Nice mobile application for both iOS and Android

  • — Fastest way to buy a small amount of cryptocurrency


  • — Limited to $250 a week until you become more verified and trusted

  • — Cannot sell coins for CAD right now

  • — High Fees - Funding fee is 3.99%

Why use Coinbase?

Use Coinbase if you have the need for speed and want to buy a small amount right now. Waiting several days in the current world of cryptocurrencies can mean losing out big time. Valuations can change significantly in a day or two, so if you feel strongly about buying something now, use Coinbase. Its worth the extra fees. Don't worry about the current inability to sell. You can transfer your purchases to another exchange to get CAD later.

Create Coinbase Account


  • — Average fees, at 2.5%

  • — Interac Online is accepted for instant funding once verified


  • — Unknown wait period for verification

Why use Coinsquare?

While Coinsquare is a Canadian exchange, it's not as reputable as the previous two exchanges, and the variation of cryptocurrencies you can trade are limited at this time. We recommend you use them as your backup exchange.

Create Coinsquare Account

Global Exchanges


  • — One of the largest volume exchanges, typically in the top 3

  • — No verification required for withdrawals of 2BTC or less

  • — Most popular alt coins are traded on Binance

  • — Easy to use

  • — Low fees


  • — Certain popular alt coins are not traded. Eg: NEM

  • — No easy way to trade back to fiat (CAD), you have to withdaw to QuadrigaCX or another Canadian exchange to get back to CAD

  • — Registration sometimes is unavailable. Its was closed for a few weeks in Jan 2018.

Why use Binance?

Use Binance to get access to cryptocurrencies not offered by Canadian exchanges.

Create Binance Account