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 40 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:

• Accessibility: Available across Canada

• Fees: Competitive at just 0.2% for all trades.

• Liquidity and Spread: Ensures smooth and efficient trading.

• Advanced Trade Features: Robust tools for experienced traders.

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 $10 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, with the exception of Alberta. While some users have bypassed this restriction by registering with their passport and using a VPN, this approach carries risks and should be done at your own discretion.

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 500 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.

Save 20% on your trade fees on Bitget

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If you’re in search of a crypto exchange that doesn’t require KYC (ID verification) and doesn’t necessitate a VPN, Bitunix is an excellent choice, especially for residents of Alberta who can’t access Bitget.

Bitunix is well-regarded on Coingecko, ranked 55th with a 7/10 rating, making it one of the top no-KYC exchanges available. It also excels in futures trading, ranking 15th among no-KYC exchanges.

Bitunix offers robust trading options including:

• Spot Trading: Featuring 207 coins and 213 pairs.

• Futures Trading: Offering 248 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, decent liquidity, and advanced trading features at competitive prices.

For a seamless and accessible trading experience without the need for ID verification or a VPN, Bitunix is an outstanding choice.

Save 25% on your trade fees on Bitunix

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