Discover the ultimate guide to buying Bitcoin in Canada in 2024! This comprehensive article explores the top seven platforms, including Kraken, Coinbase, Crypto.com, Gemini, Bitbuy, Coinsmart, and Wealthsimple Trade, providing an in-depth analysis of their features, fees, supported coins, trading pairs, and daily volume. Whether you're a seasoned trader or just starting out, this guide will help you choose the best platform to meet your needs.

Table of Contents

• The ultimate guide to Bitcoin in Canada: Comparing the top 7 exchanges
• 1. Kraken - The veteran exchange for advanced traders
• Pros:
• Cons:
• 2. Coinbase - Easy to use but expensive for Canadians
• Pros:
• Cons:
• 3. Crypto.com - Robust platform but confusing fees
• Pros:
• Cons:
•  4. Gemini - Regulated exchange from crypto pioneers
• Pros:
• Cons:
• 5. Bitbuy - Simple interface for buying crypto
• Pros:
• Cons:
• 6. Coinsmart - Solid intermediate choice but limited pairs
• Pros:
• Cons:
•  7. Wealthsimple Trade - Absolutely free trading but limited features
• Pros:
• Cons:
• Wrapping up: Find the right fit for your needs

Have you ever wondered how to get started buying Bitcoin and other cryptocurrencies in Canada? Well, you've come to the right place. In this comprehensive guide, we'll explore the top seven platforms Canadians use in 2024 to obtain their very first Bitcoin or altcoins.

While the crypto landscape continues evolving at warp speed, certain tried and true exchanges remain popular options for newcomers thanks to their stellar user experiences, a wide selection of digital assets, and above all - convenience and trustworthiness. 

Follow along as we introduce you to Kraken, Coinbase, Crypto.com, Gemini, Bitbuy, Coinsmart, and Wealthsimple - breaking down the pros and cons of each so you can feel confident choosing the right one for your needs.

The ultimate guide to Bitcoin in Canada: Comparing the top 7 exchanges

So, without further ado, let's get started exploring the top ways Canadians can buy Bitcoin and other cryptocurrencies in 2024.

1. Kraken - The veteran exchange for advanced traders

Founded in 2011, Kraken is undoubtedly one of the crypto OGs still around today. As one of the first digital currency trading platforms, this San Francisco-based giant spent over a decade cementing its reputation as one of the most secure and easy-to-use options.

Canadians gravitate toward Kraken for its large selection of over two hundred coins to invest in, professional-grade trading tools for advanced users, and up-to-date regulatory compliance. Its slick desktop and mobile interfaces leave little to be desired, and 24/7 live chat support is a godsend for any questions you might have.

Fees at Kraken are a little bit steep, starting at 0.16%/0.26% for makers and takers, respectively, while deposits and withdrawals only incur modest charges when using wires or cryptocurrency transfers. US dollar trading pairs provide useful fiat on-ramps too. Oh, and did we mention Kraken's intuitive staking portal that lets you earn a yield on select coins like Ethereum with zero management fees? Jackpot!

On the downside, Kraken charges steep $10 Interac eTransfer withdrawal fees and lacks some of the social features crypto fans love on platforms like Crypto.com. Still, Kraken remains a leading contender thanks to its strong focus on security for both traders and funds held on its platform, making it one of the best exchanges for Canadians around.

Visit Kraken

2. Coinbase - Easy to use but expensive for Canadians

Hard to talk Canadian crypto without bringing up US giant Coinbase. Having become something of a household name, this California behemoth has established itself as one of the easiest on-ramps for newcomers thanks to simple bank account funding options and a clean, user-friendly interface.

Many new crypto investors in Canada start their journey on Coinbase due to its beginner-friendly platform that simplifies the process of learning how to buy Bitcoin in Canada. Canadians flock to Coinbase for its wealth of educational resources to get up to speed, ability to instantly convert between over a hundred digital assets, extensive mobile functionality, and industry-leading security with SSL encryption and two-factor authentication built-in. Not to mention Coinbase's attractive rewards program, Coinbase Earn, puts free crypto in your account just for watching videos.

On the trade-off side, platform fees are slightly higher than competitors at 3.99% per transaction, with additional charges for debit/credit purchases and eTransfer funding. Its selection of trading pairs also remains more limited for Canadian traders versus dedicated domestic platforms. That said, Coinbase's famous ease of use and powerful brand reputation make it a top consideration - though not always the most budget-friendly.

Visit Coinbase

3. Crypto.com - Robust platform but confusing fees

Looking to satisfy both your investing itch and inner crypto nerd? Then Crypto.com could be just the exchange for you. This upstart Singaporean platform managed to quickly gain mainstream appeal through savvy marketing and offering lucrative sign-up bonuses when joining through referral links.

Where Crypto.com truly shines is its community-centric features like the ability to chat with fellow coin-holders, access exclusive discounts and cashback perks using native Cronos Coin (CRO), or stake coins for juicy reward rates.

Another ace up its sleeve is competitive 0.40% purchase fees for new users (waived on the first 30 days). Plus deposits and withdrawals only incur modest charges. However, its fees rise substantially as your 30-day trading volume lowers over time. So Crypto.com works best as either a hobbyist investor or heavy trader to maximize perks.

Crypto.com provides a fun and rewarding experience for social crypto fans while remaining a viable option interface and funding-wise. Canadians looking to get into cryptocurrency have many options to buy Bitcoin in Canada, including platforms like Crypto.com that offer competitive fees and rewards programs. Just be aware that stake and card perks do require locking crypto assets up for periods. Not ideal if you need quick cashouts.

Visit Crypto.com

 4. Gemini - Regulated exchange from crypto pioneers

As one of the sole licensed and regulated platforms in the US, Gemini has rightly earned a sterling reputation among institutions and seasoned traders alike. While its web interface may not wow visual learners, Gemini's powerful charts, data tools, and advanced order types are a dream for technically-minded holders. A close partner with market data providers like TradingView, Gemini Pro acts almost like a lightweight Bloomberg terminal for tracking over 75 coins.

To sweeten the deal, Gemini offers competitive 0.25% maker-taker fees and free crypto withdrawals. Just be ready for pricey wire deposits from Canadian banks. The exchange also remains US-exclusive for now - though hopefully, that will change as Gemini expands globally.

Visit Gemini

5. Bitbuy - Simple interface for buying crypto

If fluid fiat on-ramps are your priority, then homegrown Bitbuy is a fantastic Canadian-first choice. Incorporated right here in the Great White North, Bitbuy has garnered a loyal following among locals for its instant Interac eTransfer funding and competitive fees starting at just 1.5% per trade.

Canadians love Bitbuy for its seamless ability to buy crypto with CAD directly from one's bank account. No hassle exchanging for USDT first, like some offshore platforms require. Simply transfer funds and watch them arrive ready to invest within an hour. In a hurry? Bitbuy now also supports flexible credit/debit card purchases, albeit at higher 3.75-4.5% fees.

Elsewhere on a platform, traders enjoy access to over 50 coins, basic charting views, and the usual limit orders. Customer support could use more live agents at busy times, but email responses remain reasonably fast. For simple, speedy crypto purchasing in loonies, Bitbuy is tough to beat.

Visit Bitbuy

6. Coinsmart - Solid intermediate choice but limited pairs

Still in search of a pleasing option that checks all your boxes? Consider relative underdog Coinsmart - another homegrown Canadian exchange putting in honest work. This Waterloo-based startup holds the distinction of being the first regulated platform in the country and prides itself on top-notch compliance.

Beyond security fundamentals, Coinsmart stands out with its low 0.2% maker fees, advanced order types, and versatile funding choices including interac, wire, flexible credit card purchases, and PayTrie debit purchases. An entire suite of free educational articles also helps lessen the learning curve.

While Coinsmart's interface may not impress design snobs, everything works smoothly in practice. Customer support is also commendable, responding to live chats promptly. The downside remains a currently smaller coin selection versus industry Goliaths. But for well-rounded Canadian-dollar trading from reliable regulated hands, few can top Coinsmart. Worth a closer look.

Visit Coinsmart

 7. Wealthsimple Trade - Absolutely free trading but limited features

Finally, we come to upstart Wealthsimple Trade - the commission-free stock broker's crypto side project. While its token selection remains quite limited today, Wealthsimple earns points for utter simplicity. Anyone comfortable buying stocks will feel right at home on this no-frills platform.

Canadians flock to Wealthsimple Trade to dip their toes into cryptocurrency with zero sign-up, funding, or trading fees whatsoever. Funds transfer in/out of one's regular Wealthsimple Cash account by interac for near-instant access.

Of course, with zero transaction fees come zero advanced charting, low liquidity or alternative cryptocurrencies to invest in for now. Wealthsimple is best treated as a beginner's training wheels rather than the serious long-term crypto trading base. But it lets Canadians sample the crypto thrill on the cheap while learning the ropes.

Visit Wealthsimple

Wrapping up: Find the right fit for your needs

The top options for Canadians looking to buy Bitcoin or other cryptocurrencies include Kraken, Coinbase, Crypto.com, Gemini, Bitbuy, CoinSmart, and Wealthsimple Trade. But the best platform depends on your specific needs.

For those focused primarily on security, low fees, and advanced trading tools, Kraken or Gemini are excellent choices. Coinbase remains very beginner-friendly due to its ease of use and large coin selection. Meanwhile, both Crypto.com and Bitbuy make it very convenient for Canadians to buy crypto in Canada through direct bank account funding with Interac e-transfers. Consider criteria like fees, accepted payment methods, user experience, and security when choosing where to buy your first Bitcoin in Canada!

For a comprehensive crypto starter guide, check our ultimate guide on how to invest in crypto.