Top three Crypto exchanges in Canada to buy bitcoin

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Buy Bitcoin – There is no exact science involved in deciding which cryptocurrency exchange to use. It’s almost like buying a bank or a car. You just have to find the right fit. So you should look around. The following overview refers to managed cryptocurrency exchanges based in Canada. If you are interested in a decentralized exchange, you need to look elsewhere.

Here are a few things to keep in mind when shopping:

· The fee structure

· Which cryptocurrencies can you buy on the exchange?

· Security, KYC, and cryptocurrency storage protocols

This article introduces three of the major crypto exchanges in Canada:

· Bitbuy

· CoinSmart

· Newton

These three exchanges have a lot in common in terms of regulatory compliance and the ability to connect to Canadian bank accounts. The differences lie in the details of their services and the cryptocurrencies they offer. And you will likely find that you prefer one interface over another. So look at everyone.

Newton

Newton is a more recent exchange on the Canadian crypto scene, but they have a few things ahead of them. For starters, they’re a free exchange. Yes, no fees. How do you make money? They deal with larger cryptocurrency businesses. And like banks and investment firms, they also make interest on your money.

The best thing about Canadian exchanges is that you can now buy Bitcoin directly from your bank account using Interact and e-transfers. No, Newton does not accept credit cards. This is definitely a way to keep costs down as merchant credit card fees add up quickly.

They also have a strong security system with offline cold storage of their cryptocurrency holdings. They have a Plaid partnership, a Canadian security management company that aims to protect data but is also tied to information from banks and credit bureaus.

An added bonus is that they have an easy to use mobile app, which is always nice.

The list of cryptocurrencies that you can buy is Bitcoin, Ethereum, Litecoin, Ripple, Monero, Tether, Bitcoin Cash, Stellar Lumens, USD Coin, and QCAD.

CoinSmart

CoinSmart is another Canadian exchange that has been around for a few years, which shows good staying power. They have low, reasonable trading and transaction fees. A commission of 0.2% is charged for the sale of cryptocurrencies and a fee of 1% for withdrawals.

They also have secure SSL encryption and use cold storage for the majority of their cryptocurrency holdings. CoinSmart follows Canadian regulations and therefore collects the necessary personal data to work with the lending company Equifax and comply with FINTRAC standards.

A couple of CoinSmart benefits are the Smart Guarantee and their referral program. The Smart Guarantee allows you to pay a fee to ensure that transactions are completed within a specified time frame. And CoinSmart has a referral program that gives you $ 25 in credit for every person you refer who activates an account with them.

Luminus Financial is the Canadian bank that powers CoinSmart’s financial data. This means all of your money will stay in Canada with CoinSmart. With the growing success and popularity of cryptocurrencies, the regulations governing digital assets are constantly changing. It is therefore advisable to keep your money in a country where you understand financial policy. In the event your money is in Denmark (let’s say) your finances would be subject to their regulatory guidelines. This can turn into an expensive headache.

CoinSmart has 10 cryptocurrencies in its exchange: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, DASH, EOS, NEO, Stellar (XLM), Cardano (ADA)

BitBuy

BitBuy is also a Canadian cryptocurrency exchange. Like the others, it complies with the mandatory Canadian KYC standards and is FINTRAC registered. You can also use interaction and e-transfers from Canadian banks with BitBuy.

The fees are similar to CoinSmart and range between 0.1 and 0.2% commission. They also have high liquidity and a tight bid-ask spread margin. The biggest boon for BitBuy is the live customer support. If you need help, you can call BitBuy and speak to a real person.

The cryptocurrencies they offer are Bitcoin, Ethereum, Litecoin, XRP, Stellar (XLM), EOS and Bitcoin Cash.

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