How to Trade Crypto in Canada

When it comes to cryptocurrency in Canada, there is a key distinction between buying and trading.

Buying

• Definition: Buying refers to purchasing and holding with a long-term investment perspective.

• Time Frame: Typically, the holding period is more than a year.

• Approach: This is a passive strategy aimed at long-term gains, relying on the value of the cryptocurrency increasing over time.

• Considerations: Lower transaction frequency results in fewer fees and different tax implications compared to trading.

Trading

• Definition: Trading involves actively buying and selling with the intention of making quicker profits.

• Time Frame: Holding periods are much shorter, often ranging from hours to weeks.

• Approach: This is an active strategy focused on taking advantage of market fluctuations for profit.

• Considerations: Higher transaction frequency incurs more fees and different tax implications.

Below is a video that summarizes the best crypto exchanges to use in Canada for trading. I've also included a comparison table below the video.

In my opinion, NDAX stands out as the premier Canadian crypto exchange for trading. Established in 2017, NDAX offers an extensive selection of over 60 coins and provides the best fees in the industry, with a flat rate of 0.2% for both makers and takers.

NDAX excels in several critical areas:

• Ease of use

• Beginner friendly

• Convenient to fund and cash out of

Funding your NDAX account is seamless and cost-free with e-transfer. NDAX is also an excellent choice for those buying in volume or those who do not frequently withdraw their coins.

What sets NDAX even further apart is their latest mobile app update, now featuring TradingView integration, making trading on the go more powerful and user-friendly.

For those looking for a simple, convenient, and distinctly Canadian trading experience, NDAX is the clear choice. No other Canadian crypto exchange comes close.

Get a $20 bonus after a $100 trade on Ndax

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Bitget stands out as the leading non-Canadian crypto exchange accessible to Canadian traders due to the number of available services offered.

Bitget offers a comprehensive trading experience, including spot trading, margin trading, and futures trading. Recognized as a top 5 exchange for futures by CoinMarketCap, Bitget boasts over 700 trading pairs across its futures and spot markets.

Key features of Bitget include:

• Fees: Competitive rates starting at 0.1% for spot trading (both makers and takers) and 0.02% for futures makers and 0.06% for futures takers.

• Liquidity and Spread: Excellent liquidity and tight spreads in both spot and futures markets.

• Advanced Trading Tools: Professional dashboard design, easy navigation, and advanced features like order cancel order, stop losses, and trailing stops.

For traders on the go, Bitget offers a highly-rated mobile application, ensuring a seamless trading experience anywhere. Additionally, Bitget integrates well with TradingView, allowing direct access to charts and technical analysis.

For those seeking a robust, professional, and feature-rich trading platform outside of Canada, Bitget is an excellent choice.

Recently though, Bitget has stated that they don't support Canadians. Despite this notice, I have not had any issues using them, including withdrawing my funds from them. That said, use them at your own discretion.

Save 20% on your trade fees on Bitget

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Bitunix is well-regarded on Coingecko, ranked 30th with a 8/10 rating, making it one of the top exchanges. It also excels in futures trading, ranking 29th among exchanges offering derivatives. I personally use them more than Bitget because of the lower trade fees on the spot market for makers (0.06% instead of 0.1% on Bitget).

Bitunix offers robust trading options including:

• Spot Trading: Featuring 500+ coins and pairs.

• Futures Trading: Offering 500+ pairs.

Their fee structure is competitive:

• Spot Trading Fees: 0.1% for makers and 0.08% for takers.

• Futures Trading Fees: 0.06% for makers and 0.02% for takers.

Withdrawal fees are reasonable, typically up to $5 USD depending on the coin’s chain, with primary support for ERC-20 tokens. Bitunix provides tight spreads, great liquidity, and advanced trading features at competitive prices.

For a seamless and accessible trading experience, Bitunix is an outstanding choice.

Recently though, Bitunix has stated that they don't support Canadians. Despite this notice, I have not had any issues using them, including withdrawing my funds from them. That said, use them at your own discretion.

Save 25% on your trade fees on Bitunix

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