5 Best Crypto Exchanges In Canada With Low Fees (Jul 2022)

June 6, 2022
Blog

When it comes to choosing the best Canadian crypto exchange with low fees, you have a tough task ahead of yourself: there’s a myriad of options currently available, each with its own set of different features and benefits that need to be considered. As a long-time crypto investor, I constantly keep up with the latest and greatest exchanges and make my recommendations below based on years of deep research and personal experience.

In particular, I’d recommend using Newton, as it’s a Canadian cryptocurrency exchange that offers commission-free trading and it has the lowest bid-ask spread rate across all crypto exchanges in Canada. Additionally, the platform offers plenty of features that you’ll find convenient, such as instantaneous account verification, its easy-to-use mobile app, and its wide array of supported cryptocurrencies.

What Is The Best Crypto Exchange In Canada With Low Fees?

#1 Newton

Newton is a cryptocurrency exchange located in Toronto, Canada. It was established in 2018 and offers a comprehensive array of supported cryptocurrencies. There are additional characteristics that distinguish this crypto exchange from the competition: for example, it has zero trading fees, third-party custody, immediate account verification, and competitive spreads that benefit cryptocurrency day traders. They also provide frequent offline site backups, cutting-edge data storage software for digital assets, and direct bank integration.

Considering they have zero trading commissions and a low bid-ask spread between 0.5% to 0.7%, Newton takes the crown as the cheapest cryptocurrency exchange to use in Canada.

Features

  • Zero trading fees.
  • Third-party custody.
  • Competitive spreads.
  • Highly-rated mobile app.
  • A wide array of supported cryptocurrencies (70+).
  • Immediate account verification.

Pricing

  • Trading fees: None
  • Bid-ask spread: From 0.5% to 0.7%

Signup Bonus

$25 free when you sign up using this link.

Best For

Crypto investors that are interested in an exchange that allows them to trade rare/uncommon altcoins with no trading fees.

#2 VirgoCX

Best For Fringe Coins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5

Based in Toronto, VirgoCX is another one of the best Canadian crypto exchanges. Its users appreciate that it offers 50+ cryptocurrencies, one of the widest selections of any exchange on this list. 

VirgoCX’s trading platform and mobile app are intuitive and easy to use, even for beginners. It offers 24/7 customer support via live chat and email, plus an extensive FAQ section on its site.

VirgoCX charges no deposit or withdrawal fees on fiat and covers the first $6 in mining fees on ERC20 withdrawals. It requires 2-factor authentication on all accounts and maintains a 95% cold storage policy to keep your assets safe at all times.

Features

  • Supports 50+ cryptocurrencies.
  • Free fiat deposits and withdrawals.
  • Free deposits and withdrawals on most cryptocurrencies.
  • 24/7 support is available via live chat and email.
  • User-friendly for both beginners and more advanced traders.
  • 95% cold storage policy keeps your crypto extra secure.

Pricing

  • Account Opening: Free.
  • Cash Deposits: Free.
  • Cash Withdrawals: Free.
  • Crypto Deposits: Free.
  • Crypto Withdrawals: Free for all major coins.
  • Spreads on trades: Around 1%.

Signup Bonus

$30 when you fund your account with $100 or more using this link.

Best For

Investors looking to buy altcoins before everyone else.

CLAIM MY $30 BONUS
Free account, instant verification

#3 Coinberry

Coinberry is a Canadian crypto exchange that supports 20+ cryptocurrencies (including XRP) and charges zero fees on CAD deposits and withdrawals. Users can instantly deposit money via credit card and INTERAC e-transfers, and while Coinberry hasn’t reached the mass appeal of the likes of CoinSmart, it’s still a decent exchange.

One of the features Coinberry users appreciate is Coinberry Autopilot, which allows users to purchase cryptocurrencies automatically through the time-tested investing strategy known as dollar-cost averaging. Dollar-cost averaging is one of the best-performing investing strategies on the planet, and Coinberry is the only exchange in Canada to offer this functionality.

Features

  • Supports 20+ crypto assets (including XRP).
  • Instant account verification.
  • Auto-purchase functionality (dollar-cost averaging).
  • Live, helpful customer support.
  • Excellent mobile app (rated 4.5/5 on the App Store).
  • Cold storage is provided by Gemini.

Pricing

  • Deposit and withdrawal fees: 0%.
  • Spread: From 0% to 2.5%.

Best For

Investors looking to buy cryptocurrencies through dollar-cost averaging.

#4 CoinSmart

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ending soon.

★★★★★

Rated 4.8/5

CoinSmart is a fantastic option for Canadians seeking a reliable, trustworthy crypto exchange. Like Bitbuy, CoinSmart’s trading fees are also low, just 0.2%. They offer excellent customer support available 24/7 via phone, live chat and email, and user accounts are verified instantly.

CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), and as a publicly-traded company, its financials are audited by a third-party firm at least once per year. They also maintain a 95% cold storage policy, which ensures your crypto is kept extra safe and secure across all circumstances.

As a new CoinSmart user, you’ll receive a $50 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.

Features

  • Extremely low trading fees (0.2%).
  • 24/7 customer support is available via phone, live chat or email.
  • Instant account verification.
  • Supports 16 cryptocurrencies.
  • Registered Marketplace by the OSC.
  • Immediate deposits and withdrawals.
  • User-friendly for both beginners and advanced traders.
  • 95% cold storage policy keeps your crypto extra secure.

Pricing

  • Account Opening: Free
  • Trading Fees: 0.2%
  • INTERAC Deposit: 0%
  • Bank Wire Deposit: 0%
  • Bank Wire Withdrawal: 1%
  • EFT Withdrawal: 1%

Signup Bonus

A signup bonus is available whenever you sign up using this link and our promo code (YOREOYSTER).

Best For

Investors looking to trade with low trading fees.

CLAIM MY $50 BONUS
Offer ends soon.

#5 Bitbuy

Bitbuy has processed more than $4 billion in trades across its 350,000+ Canadian users. It supports 17 cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar, EOS, Aave, Chainlink, Polkadot, Dogecoin, Polygon, Cardano, SushiSwap, Uniswap, Solana, Decentraland, and USDC.

Bitbuy verifies accounts instantly, prides itself on its helpful customer service reps and has a beautiful, well-rated app. You can fund your Bitbuy account directly from your bank account via INTERAC e-transfer or bank wire, with all account deposits and withdrawals executed quickly.

Pro Trade users can make trades for just 0.10%, while Express Trade users are charged just 0.20%.

As of December 1, 2021, Bitbuy is also the first Registered Marketplace and Investment Dealer among cryptocurrency exchanges in Canada, as recognized by the Ontario Securities Commission (OSC). This means that the OSC has recognized Bitbuy as a highly safe and secure exchange and that it offers deep liquidity for all order sizes.

If you’re looking for a highly-respected exchange that offers altcoin trading, great customer service, and a slick mobile app, click here to get your $50 signup bonus today.

Features

  • The lowest trading fees in Canada (0.10 – 0.20%)
  • Easy to use for both beginners and advanced traders
  • Supports 17 cryptocurrencies
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure

Pricing

  • Express Trading Fees: 0.20%
  • Pro Trading Fees: 0.10% to 0.20%
  • INTERAC Deposits/Withdrawals: 1.50%
  • Bank Wire Deposit Fee: 0.50%
  • Bank Wire Withdrawal Fee: 1.00%

Signup Bonus

A signup bonus is available whenever you deposit at least $250 using this link.

Best For

Investors looking for top-level security and fast verification, deposits and withdrawals.

CLAIM MY $50 BONUS
Trusted by 400,000+ Canadians.

What Is Crypto Exchange In Canada With Low Fees?

A cryptocurrency exchange (or crypto trading platform) is a website that can be used on a computer or mobile device to buy, sell, and trade digital currency with fiat currency (such as Canadian dollars or U.S. dollars). In some cases, you’ll also be able to make crypto-to-crypto trades without the need of selling your crypto first, and some crypto exchanges offer more than buying and selling crypto (for example, some crypto exchanges offer margin trading and even leverage trading, as well as advanced trading tools).

One important aspect that you have to consider when choosing a crypto exchange is its fees: some crypto exchanges don’t charge you any fees for using their platform, while others offer fees as high as 5% or more, which would amount to a considerable amount of your investment returns lost just because you chose to use one platform with high fees. Using platforms that offer lower fees will allow you to have bigger investment returns overall, which you can then use to invest more in crypto later.

In Summary

When it comes to choosing the best cryptocurrency exchange with low fees in Canada, you have a tough task ahead of yourself: there’s a myriad of options currently available, each with its own set of different features and benefits that need to be considered. As a long-time crypto investor, I constantly keep up with the latest and greatest exchanges and make my recommendations below based on years of deep research and personal experience.

In particular, I’d recommend using Newton, as it’s a cryptocurrency exchange that offers commission-free trading and it has the lowest bid-ask spread rate across cryptocurrency exchanges in Canada. Additionally, the platform offers plenty of features that you’ll find convenient, such as instantaneous account verification, its easy-to-use mobile app, and its wide array of supported cryptocurrencies.

Best Crypto Exchange In Canada With Low Fees FAQs

How Much Does A Crypto Exchange In Canada With Low Fees Cost?

Canadian crypto exchanges with low fees often offer commission-free trading, which means that you won’t incur any fees whenever you use these platforms to buy, sell, and trade crypto assets. The maximum trading fees you can expect to incur with these exchanges is 0.2%, which is pretty low.

What Is The Cheapest Crypto Exchange In Canada?

The cheapest crypto exchange in Canada is Newton. It offers commission-free trading (which means you won’t incur any fees when using the platform), and it also has the lowest bid-ask spread rate in the industry (0.5% to 0.7%).

What Is The Best Free Crypto Exchange In Canada?

The best free crypto exchange in Canada is Newton. You won’t have to pay any fees when using the platform, and it has plenty of convenient features, such as instantaneous account verification, an easy-to-use mobile app, and a wide array of supported cryptocurrencies.

Is A Crypto Exchanges In Canada With Low Fees Worth It?

Yes, a crypto exchange in Canada with low fees is worth it because you’ll have more investment returns. Some crypto exchanges have such intense fees that you’d lose thousands of dollars in fees on intermediate trades alone.

Are Crypto Exchanges In Canada With Low Fees Safe?

Yes, crypto exchanges in Canada with low fees are safe because most Canadian crypto exchanges have the same standard of safety that other crypto exchanges do. For example, most employ a cold storage policy where your funds are stored in offline storage away from the reach of any hackers, and 2-factor authentication support is also widespread across crypto trading platforms.

Are Crypto Exchanges In Canada With Low Fees Legit? 

Yes, crypto exchanges in Canada with low fees are legit because most crypto exchanges are registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), one of Canada’s largest regulatory entities.

The Best Crypto Exchanges In Canada

Best Overall

Trading fees: 0.1%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

Trusted by 200,000+ Canadians.

★★★★★

Rated 4.8/5

Best For Altcoins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5