Canadians had their share of highs and lows with cryptos. Some of the leading players including Ethereum started their crypto journey in Canada. But, like other countries, Canada did not completely provide their acceptance until recently. In recent times, Canada has come forward in accepting crypto transactions. There is a positive approach to investment via Bitcoin Prime.
Need for Good Crypto Exchange
If you are a digital asset trader then it is important for you to first have access to a good exchange. Considering a positive approach towards blockchain and cryptos, access to world-class exchanges. Investors also have access to the finest version of crypto exchanges. Considering that there are many crypto exchanges, it will be difficult to pin them down to one.
Best Exchanges in Canada
Before understanding the best exchanges in Canada it is important to understand priorities. Choose a reputed exchange. There is security to your transactions. Another advantage of opportunities that you need to look out for is the joining bonus or rewards. Certain exchanges also provide a better return for small trade. Before enrolling it is important to list down your priorities. Understanding the expectations, features, and returns you expect from an exchange is important for decision-making.
Binance Canada
Not Canada, this is a popular exchange across the globe. This exchange is an excellent choice for an advanced and new investor. This exchange also provides options to trade using more than 350+ altcoins. Binance Canada also allows investors to earn profits through other ways – by earning rewards to holding, or by staking the investments. Crypto traders also get the opportunity to undertake peer-to-peer transactions. Margin trading and ultimate access to trading products is an added advantage.
Investors and traders vouch for this exchange as the most trusted and reputable exchange.
Bitbuy Canada
Previously known as InstaBT, this is a highly trusted and reputable exchange in Canada. The exchange is headquartered in Toronto. Founded in 2016, Bitbuy allows users with specific needs tailored for Canadian citizens. There are verification methods, and other compliance requirements specific to Canadian government needs. Users need to comply with the same to start trading activity using this exchange. For individuals and institutional investors, there is also an option to use the counter feature. Another added advantage is fewer transaction fees and a user-friendly interface.
Coinbase Canada
An incredibly easy-to-use platform for crypto trading. The streamlined interface provides for user-friendly designs. This crypto exchange currently reports the highest trading volume. This crypto exchange has also not recorded any security breach since its launch. Due to this feature, this crypto is the best in the industry. Traders can carry out transactions using their debit and credit cards. One challenging feature of Coinbase Canada is its limitation to trade only 50 coins.
Kraken
Founded in 2011, Kraken has the highest volume of liquidity and euro volume. Kraken is a popular choice amongst first-time investors. It offers low transaction fees, security, and a range of features. This crypto exchange also allows for 95% of funds for investment in cold storage. The dual-factor authentication system allows for the safety of your wallet and purchases. yet another added advantage is the many user levels. There are 03 levels – Starter, Intermediator, and Pro. Depending on the level of your trading experience you may choose the best option.
Gemini Canada
This exchange is a strong competitor to Coinbase and Kraken. Investors gain access to a strong security network. There is a little higher volume of trading fees. This exchange has provided its users with 7.4% APY and credit cards. Investors get the latest real-time update on market trends. This helps investors to choose the right investment options. You can use your bank account, credit, and bank transfer to buy and sell cryptos using this exchange.
Investing in the Best Crypto Wallets in Canada
There are two different types of wallets used in Canada – hot and cold wallets.
Hot wallets are also known as software wallets. But, a cold wallet is a hardware wallet used for storing funds in cold storage. Another option is the paper wallet wherein you can save your private key and other details on paper. Choose the best exchange to reap maximum benefits.
