6 Best Canadian Cryptocurrency Exchanges
Heading into 2019, buying Bitcoin and cryptocurrency in Canada can be a difficult process. Yes, there are a lot of options, but there are also a lot of factors to consider when choosing which platform is right for you. In this article, we break down what details to consider, and rate our top Canadian cryptocurrency exchanges available specifically to Canadians. If you are looking for international exchanges, check out our exchange review post or our comprehensive guide of how to buy Bitcoin worldwide. So let’s take a look at our top Canadian cryptocurrency exchanges!
If you are new to buying and selling digital currency, customer service will be important to you. It’s more likely than not you are going to have questions along the way. It’s a whole new world out there, and using a platform with first class customer support team will help you navigate.
Canadian Banking Relationships
If you know anything about the Canadian banking system, you know that regulations, KYC and compliance are the name of the game. International exchanges have had a tough time getting into the Canadian market because they can’t get bank accounts in Canada. Fortunately, there is a variety of homegrown Canadian cryptocurrency exchanges who have established banking relationships locally and have no problem accepting your Canadian dollar deposits.
Speaking of Canadian dollars, unless you want to get burned on exchange rate fees, it’s always wise to fund your account with Canadian dollars. Nowadays, there are options to fund with cash, credit card, bank wire or Interac e-Transfer. Make sure the funding method you want to use is supported on your exchange, and beware of the fees associated with each method. Credit card transactions can be charged up to 10% fees! Most reputable Canadian platforms are registered with FINTRAC, and their Money Services Business license can be is our number one choice as the best place to buy and sell cryptocurrency online in Canada. The online platform was founded in 2013 as InstaBT, with a mission to provide safe, easy and quick access to Bitcoin. Rebranded as Bitbuy in 2016, the platform still makes good on its original mission all these years later and is one of the most popular platforms in Canada.
Bitbuy delivers on quick and comprehensive customer support and in addition to their comprehensive support guide and ticketing system, they provide a toll-free number for users to call into in order to speak directly to a customer support agent. The sign-up and verification process is also very easy and typically takes only a couple minutes to complete. Bitbuy follows Canadian KYC regulations, and has an automated verification system implemented. Just enter some basic information about yourself in order to be verified. The site has a sleek and easy to use design and is optimized for mobile browsers for easy trading on the go. They also have their own resources for beginners, including
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