Top 10 Crypto Apps and Trading Platforms in Canada for 2024

The world of cryptocurrency continues to evolve, and Canada is no exception. With a growing number of Canadians looking to invest in digital assets, choosing the right platform to buy, sell, and trade crypto is crucial. This guide explores the top 10 crypto apps and trading platforms available in Canada for 2024, providing a comprehensive overview of their features, fees, and security measures.

Factors to Consider When Choosing a Crypto App in Canada

Before diving into specific platforms, it’s essential to understand the key factors to consider when choosing a crypto app in Canada:

  • Security: Since cryptocurrencies operate in a decentralized space, robust security measures are paramount. Look for platforms with features like 2-factor authentication (2FA), cold storage for a majority of coins, and a strong reputation for user safety.
  • Coins Offered: Different platforms offer access to varying cryptocurrencies. Consider the coins you’re interested in trading and ensure the platform supports them.
  • Trading Fees: Transaction fees can significantly impact your profits. Explore the fee structure of different platforms, including trading fees, deposit/withdrawal fees, and any hidden spreads.
  • Ease of Use: If you’re a beginner, a user-friendly interface is essential. Conversely, experienced traders might prioritize advanced charting tools and technical indicators.
  • Regulation: While cryptocurrencies are not regulated like traditional securities in Canada, most platforms are registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as Money Service Businesses (MSBs).
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Top 10 Crypto Apps and Trading Platforms in Canada

Now, let’s delve into the top contenders for your Canadian crypto journey:

1. Bitbuy: Overall Best Crypto App in Canada

    Bitbuy emerges as the frontrunner, offering a user-friendly platform suitable for both beginners and experienced traders. It boasts over 40 tradable coins, including popular options like Bitcoin, Ethereum, Litecoin, and various altcoins.

    Bitbuy shines with competitive trading fees ranging from 0% to 2% depending on your trading volume. Additionally, it offers multiple funding options, including Interac e-Transfer, bank wire, debit card, and fiat deposits. Security is prioritized with 2FA, cold storage for 90% of digital assets, and FINTRAC registration as an MSB. Bitbuy even throws in a $50 bonus for new users who deposit at least $250.

    2. VirgoCX: Best Crypto App for Altcoins

      VirgoCX caters to altcoin enthusiasts with a vast selection of over 65 cryptocurrencies. It also offers access to various crypto services, including NFTs and OTC trading. VirgoCX prides itself on its user-friendly interface and features lower trading fees compared to some competitors, with discounts available for larger trades.

      Funding options include Interac e-transfers, wire transfers, credit/debit cards, and crypto deposits. Security measures include 2FA and adherence to FINTRAC regulations. New users can snag a $20 bonus upon completing KYC and depositing at least $100.

      3. Newton: Beginner-Friendly Crypto App for Altcoins

        Newton simplifies crypto trading for beginners with a user-friendly platform and limited complex charting tools. It provides access to a decent selection of over 70 cryptocurrencies, including popular options and emerging altcoins.

        Transaction fees are levied as a spread on transactions, typically up to 2%. Fiat deposits and withdrawals are free, with no markup fees for crypto withdrawals. Newton prioritizes user safety with secure cold storage and FINTRAC registration as an MSB. A $25 bonus awaits new users who trade their first $100 worth of crypto.

        4. Shakepay: Convenient App for Buying Bitcoin and Ethereum

          Shakepay is a well-established platform in Canada, offering a straightforward experience for buying and selling Bitcoin (BTC) and Ethereum (ETH). Its mobile app allows for convenient on-the-go trading. Shakepay boasts low fees with a spread ranging between 1-3% and free fiat deposits/withdrawals.

          Security is ensured through 2FA and adherence to FINTRAC regulations. New users can receive a $5 bonus upon opening an account and trading $100 worth of BTC or ETH.

          5. Wealthsimple Crypto: Ideal for Beginners with Existing Wealthsimple Account

          Top 10 Crypto Apps and Trading Platforms in Canada for 2024

            Wealthsimple Crypto integrates seamlessly with the popular Wealthsimple investment platform, making it convenient for existing Wealthsimple users to explore crypto. This platform caters primarily to beginners with a curated selection of over 50 cryptocurrencies and a user-friendly interface. Trading fees are levied as a spread on bid-ask prices, typically around 1.5-2%.

            6. Kraken: Feature-Rich Platform for Experienced Traders

              Kraken is a global leader in crypto exchanges, offering a robust and secure platform ideal for experienced traders. It boasts extensive features, including margin trading, advanced order types, and powerful charting tools. While it might not be the most beginner-friendly option, Kraken caters to those seeking a comprehensive crypto trading experience.

              The platform supports a vast variety of cryptocurrencies, with competitive fees based on your trading volume. Security is a top priority with industry-leading practices, including 2FA, advanced security measures, and a strong focus on regulatory compliance.

              7. Coinbase: Globally Recognized Platform with User-Friendly Interface

                Coinbase is a household name in the crypto world, renowned for its user-friendly interface and focus on education. It offers a decent selection of popular cryptocurrencies, making it suitable for beginners.

                Transaction fees are levied as a spread on transactions, typically ranging from 1-3%. Coinbase emphasizes security with 2FA, cold storage for a majority of assets, and robust insurance policies. New users can earn rewards by completing educational modules about cryptocurrencies.

                8. App with Integrated Crypto Visa Card and DeFi Features

         caters to users seeking a comprehensive crypto ecosystem. Beyond buying and selling crypto, it offers an array of features, including a Visa card that rewards users with cryptocurrency for their spending. It even delves into decentralized finance (DeFi) with its own DeFi Swap and staking options.

                  The platform supports a wide range of cryptocurrencies, with fees varying based on the chosen trading method. Security features include 2FA, cold storage, and regulatory compliance.

                  9. NDAX: Established Exchange with Competitive Fees

                    NDAX is a well-established Canadian crypto exchange offering a user-friendly platform and competitive trading fees. It provides access to a good selection of popular cryptocurrencies. Transaction fees are tiered based on your trading volume, typically ranging from 0.10% to 0.20%. Funding options include Interac e-Transfer, bank wire transfer, and digital asset deposits. NDAX prioritizes security with 2FA, cold storage for a majority of assets, and FINTRAC registration.

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                    10. Bull Bitcoin: Focuses on Bitcoin with Simple Interface

                      Bull Bitcoin stands out for its focus on simplicity and security. It caters specifically to Bitcoin (BTC) purchases, making it ideal for those who want a straightforward platform to buy and hold BTC. Bull Bitcoin boasts low fees, typically around 1.5%, and emphasizes security with industry-leading practices, including 2FA, multi-signature cold storage, and a focus on regulatory compliance.

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