Best Crypto Apps Canada for April 2022

There are many crypto apps that enable Canadian traders to buy and sell digital currencies on the move.

In this guide, we compare the best crypto apps in Canada for 2022 in terms of user-friendliness, safety, fees, supported coins, trading tools, and more. We’ll also show you how to get set up with a top-rated crypto app account in under five minutes.

The 10 Best Crypto Apps in Australia for 2022

For an overview of the 10 best crypto apps in Canada right now – check out the list of providers outlined below.

  1. Bitbuy – Overall Best Crypto App in Canada for 2022
  2. Crypto.com – User-Friendly Crypto App With 250+ Supported Coins
  3. Binance – Popular Crypto App That is Great for Trading
  4. Coinbase – Top Crypto App for Beginners
  5. Kraken – Trusted Crypto App With Margin Trading Accounts
  6. Coinsmart – Canadian Crypto App That Supports Debit Cards
  7. Ledger Nano X – Best Crypto Wallet App
  8. Blockfolio (Now FTX) – Best Crypto Portfolio Tracker App
  9. Wealthsimple – Combine Crypto and Stock Investments via a Single App
  10. Newton – Crypto App Offering Fast Account Set-Up and Instant Verification

Cryptoassets are a highly volatile unregulated investment product.

Read on to find out why we like the 10 crypto app providers listed above.

1. BitBuy – Overall Best Crypto App in Canada for 2022

BitBuy came out as the overall best crypto app in Canada for 2022. This top-rated provider was first launched in 2016 and is now used by over 400,000 Canadian traders. The Bitbuy app is compatible with both iOS and Android devices and it enables you to buy Bitcoin and 14 other leading digital currencies.

This includes Bitcoin, Solana, Matic, Uniswap, Ethereum, Litecoin, Dogecoin, and more. In terms of security, Bitbuy is actually approved by the Ontario Securities Commission and registered with FINTRAC. This highlights that Bitbuy takes regulation seriously.

In terms of getting set up with Bitbuy, in most cases, you can open a verified account in under five minutes. Then, you can easily deposit funds via Interac e-Transfer and the minimum deposit amounts to just $50. Not only are Interac e-Transfer payments charged at just 1.5%, but the funds will be credited to your trading app account near-instantly.

https://www.business2community.com/

Once the funds arrive, you can then buy your chosen cryptocurrency on the Bitbuy app at a competitive commission of just 0.20% per slide. The Bitbuy app also comes with superb customer support – which is available on a 24/7 basis. If you have more experience in the digital asset space and require a more advanced crypto exchange – Bitbuy has you covered.

Put simply, the Bitbuy Pro section of the app gives you access to more sophisticated trading tools. This is inclusive of live order books, technical indicators, customizable timeframes, and more. On the other hand, newbie traders will appreciate the Express Trade tool, which simply allows you to invest in cryptocurrency at the click of a button.

Number of Cryptos 15
Fee Structure Fixed commission structure
Fee to Buy Bitcoin  0.2% per slide
Minimum Deposit $50

Pros

  • Approved by the Ontario Securities Commission
  • Registered with FINTRAC
  • Low deposit and trading fees
  • Supports Interac e-Transfer payments from just $50
  • 24/7 customer service

Cons

  • Bank wire payments require a minimum of $20,000

Cryptoassets are a highly volatile unregulated investment product. 

2. Crypto.com – User-Friendly Crypto App With 250+ Supported Coins

crypto.com logo

Crypto.com is now home to one of the largest and most diverse cryptocurrency ecosystems. It offers a wide range of products and services that enable you to maximize your returns from the digital asset space. First and foremost, once you download the Crypto.com app and open an account, you’ll have access to over 250 coins.

This means that you can buy and sell a wide variety of tokens and thus – create a diversified portfolio. We also like that you can instantly deposit funds with a debit or credit card – should you wish to invest in a cryptocurrency without delay. You might also consider transferring funds from your local bank account.

When it comes to fees, the Crypto.com app – which is compatible with both iOS and Andoird, operates a market maker/taker pricing system. As a retail client that trades small volumes, you will pay 0.40% per slide – so that’s just $0.40 for every $100 staked. You will, however, be offered lower fees if you hold CRO tokens in your staking wallet.

crypto.com app review

CRO – or Cronos, is the native token of the Crypto.com platform. In addition to its leading crypto exchange, this top-rated app provider also gives you to option of depositing tokens into an interest account. The amount of interest that you can earn will vary depending on the cryptocurrency and whether you wish to opt for a 3-month, 1-month, and flexible term.

Nonetheless, the best APY on offer at this moment in time is a very attractive 14.5%. Another option you have when opting for the Crypto.com app is to take out a digital asset loan. This will suit those of you that need access to cash but you don’t want to sell your crypto tokens. The maximum LTV offered is 50%.

The Crypto.com app is also popular for its NFT marketplace. This gives you access to thousands of NFTs of all shapes and sizes. Best of all, if you’re a buyer, you won’t pay any commission fees. The final thing to note about Crypto.com is that it offers a prepaid debit card that is issued by Visa. As such, this allows you to spend your crypto earnings in the real world.

Number of Cryptos 250
Fee Structure Maker/taker commission model
Fee to Buy Bitcoin Up to 0.4% per slide
Minimum Deposit $20

Pros

  • Over 250+ crypto coins supported
  • Accepts debit/credit cards and bank transfers
  • Great reputation
  • Offers crypto interest accounts and lending services
  • Competitive fees

Cons

  • Visa and MasterCard deposit cost 2.99%
  • More suited to beginners

Cryptoassets are a highly volatile unregulated investment product. 

3. Binance – Popular Crypto App That is Great for Trading

binance logo

Next up on our list of the best Canadian crypto apps is Binance. You might have heard of this popular exchange – not least because it is used by over 100 million people from all over the world. And, while the US version of Binance only supports 80 digital currencies – Canadians have access to the global platform.

And as such, once you have downloaded the Binance app and opened an account – you will have access to no less than 600 cryptocurrencies and 1,000+ markets. This includes a huge blend of large, medium, and small-cap tokens – so you will never be short of trading opportunities. We also like the Binance app for its low fee policy which means you can invest in Bitcoin with low fees right now.

Just like Crypto.com, the Binance app utilizes a market maker/taker model. Unless you are looking to trade 5-figure sums throughout the month, you will pay the standard commission of 0.10%. This means that you will pay just $0.10 for every $100 that you stake. And, if you hold BNB tokens in your Binance account, this fee is reduced by 25%.

binance app review

When it comes to funding, you can deposit funds into the Binance app with a debit or credit card. Bank transfers and crypto deposits are also supported. In terms of user-friendliness, Binance is often preferred by seasoned traders that seek more advanced tools. The Binance app offers everything from technical indicators and chart drawing tools to live order books.

With that said, the instant buy feature on the Binance app is perfectly suited for beginners, as it’s just a case of choosing your preferred cryptocurrency and stake, and entering your Visa or MasterCard details. Another popular tool on the Binance app that we like is its crypto savings accounts.

Just like Crypto.com, this enables you to generate interest in your long-term cryptocurrency holdings. Some tokens yield over 100% per year in interest, so this is definitely something to check out if you seek passive income. The Binance app also offers staking tools, which is another way to earn passive income on your idle tokens.

Number of Cryptos 1,000+ markets
Fee Structure Maker/taker commission model
Fee to Buy Bitcoin Up to of 0.1% per slide
Minimum Deposit Depends on payment method

Pros

  • Hundreds of coins across 1,000+ markets
  • Low commissions of just 0.10% per slide
  • Supports fiat money deposits and withdrawals
  • Great tools for advanced traders
  • One of the largest crypto exchanges for liquidity

Cons

  • Not regulated by any licensing body
  • Has previously been hacked

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Coinbase – Top Crypto App for Beginners

coinbase logo

Coinbase offers a simple crypto exchange and mobile app that will suit those of you that are completely new to the world of digital currencies. Before you can invest, you will need to open an account and upload some ID. End-to-end, this shouldn’t take you more than 10 minutes from start to finish.

In total, the Coinbase app – which can be downloaded onto Android and iOS devices for free, gives you access to over 50 digital currencies. This covers most large-cap tokens, such as Bitcoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Litecoin, and more. Notable exceptions here include a lack of support for BNB and Ripple.

Nonetheless, the Coinbase app is simple to use and you have the option of buying and selling digital currencies on a 24/7 basis. You will be charged a fee of 1.49% for each buy and sell order that you place, which is perhaps the most expensive that you will come across in this space. Moreover, if you trade less than $200 on a particular order, higher fees apply.

coinbase app review

Another thing to note about the fee policy on the Coinbase app is that you will pay 3.99% per transaction if you wish to instantly buy crypto with Visa or MasterCard. The only way to reduce this fee is to deposit funds via a bank transfer – which is free of charge. Unlike Crypto.com and Binance, Coinbase does not offer savings accounts.

You can, however, still earn interest on your idle digital currencies through staking. This is offered on six crypto assets and the highest yield available is 5%. When it comes to reputation, Coinbase was founded in 2012 and it is used by tens of millions of clients. The platform is now a public company, with its shares listed on the NASDAQ.

When it comes to storage, Coinbase offers a popular crypto wallet that can be accessed directly within your account dashboard. This is a custodial wallet, so you won’t have access to your private keys. You will, however, have 98% of your tokens kept offline at all times in cold storage. Your account will also be protected by two-factor authentication.

Number of Cryptos 50+ markets
Fee Structure Fixed commission model
Fee to Buy Bitcoin 3.99% with debit/credit card, 1.49% standard
Minimum Deposit $50 is recommended

Pros

  • Regluated in the US and listed on the NASDAQ
  • Supports 50+ coins
  • Accepts debit/credit cards and bank transfers
  • Great security features
  • Perfect for beginners

Cons

  • High payment and commission fees
  • Limited trading tools and features

Cryptoassets are a highly volatile unregulated investment product.

5. Kraken – Trusted Crypto App With Margin Trading Accounts

https://www.business2community.com/

Kraken is an established crypto exchange that first opened its doors in 2011. This trusted platform offers a mobile app for both iOS and Android devices. What we like about the Kraken app is that it is suited for skillsets and trading objectives.

For example, if you are a beginner that simply wants to buy cryptocurrency in Canada, you can open an account in less than five minutes and deposit from just $5. Then, it’s just a case of deciding which digital currency that you want to add to your portfolio and placing a buy order. On the other hand, if you are a seasoned trader, the Kraken app also has you covered.

This is because the app gives you access to margin trading accounts. When spot trading cryptocurrencies, you can apply leverage of 1:5. This means that a stake of $1,000 would give you access to trading capital of $5,000. When trading cryptocurrency futures, the amount of leverage on offer increases to 1:50.

kraken app review

When it comes to funding your account, the Kraken app supports Canadian dollars. Interac e-Transfer are processed in 0-1 working days at a fee of 1.5%. Other options include a cash deposit at Canada Post or a domestic wire transfer. Once your account is funded, you will pay a standard commission of 0.26% per slide.

Just like Crypto.com and Binance, the Kraken app offers lower discounts for those trading larger volumes throughout the month. In terms of core features, Kraken offers a superb suite of educational materials that suit beginners wishing the increase their knowledge of cryptocurrency trading.

This is inclusive of guides, podcasts, and blog articles. At the other end of the scale, seasoned investors will appreciate Kraken’s OTC service. We also like the Kraken app for its top-rated customer support – which is offered 24 hours per day, 7 days per week. And finally, by downloading the Kraken app, you will also have access to staking tools.

Number of Cryptos 1,000+ markets
Fee Structure Maker/taker commission model
Fee to Buy Bitcoin Up to 0.1% per slide
Minimum Deposit Depends on payment method

Pros

  • Offers margin of 1:5 on spot markets
  • Leverage of 50x on futures trading
  • First launched in 2013
  • 65+ coins supported
  • Suitable for both beginners and experienced investors

Cons

  • Leveraged products are high risk
  • Does not offer a native wallet

Cryptoassets are a highly volatile unregulated investment product. 

6. Coinsmart – Canadian Crypto App That Supports Debit Cards

coinsmart review

Coinsmart is another popular exchange in Canada that offers a user-friendly crypto app. This option is perhaps worth considering if you favor convenience and speed over fees. This is because, while you can instantly deposit funds with a debit card, you will pay up to 6% of the transaction amount.

In comparison, Crypto.com charges just 2.99%. With that said, the Coinsmart app also gives you the option of depositing funds via Interac e-Transfer. If you deposit more than $2,000 – the transaction will be processed fee-free. Otherwise, you will pay a deposit fee of 1.5%. Moreover, Interac e-Transfer deposits are processed on a same-day basis.

coinsmart review

When it comes to trading fees, you will pay a standard commission of 0.20% per slide. However, if you trade crypto-cross pair that does not include Bitcoin (e.g. LTC/XRP), the commission increases to 0.30%. Finally, Finally, the minimum withdrawal on the Coinsmart app is $50 and the transaction will attract a 1% fee at a minimum of $15.

Number of Cryptos 16
Fee Structure Variable commission model
Fee to Buy Bitcoin Up to 0.3% per slide
Minimum Deposit Depends on payment method

Pros

  • Very user-friendly mobile app
  • Free Interac e-Transfer payments when depositing more than $2,000

Cons

  • Only 16 tokens supported
  • Non-Bitcoin pairs are charged at a premium
  • Not suitable for serious investors

7. Ledger Nano X – Best Crypto Wallet App

ledger nano x review

If you’re looking for the best crypto wallet app in Canada for safe storage, you might want to consider Ledger Nano X. Take note, Ledger Nano X is primarily known for its hardware wallet devices – which are the gold standard for security in the crypto space.

As such, if you’re considering this option, then it’s worth connecting the Ledger Nano X app with a hardware device. In doing so, you’ll benefit from a wide range of security tools. For example, the Ledger Nano X wallet remains offline at all times, this removes the threat of being hacked remotely.

Ledger Nano X canada

Moreover, you will need to enter your PIN onto the device itself to be able to transfer funds. Naturally, this won’t suit those of you that are looking to buy and sell crypto on a regular basis, as the transfer process can be cumbersome. Nonetheless, the Ledger Nano X app itself gives you access to exchange services – but you will still need to verify trades on your hardware device.

Number of Cryptos 1,000+
Fee Structure Fees built into exchange prices
Fee to Buy Bitcoin Fees built into exchange prices
Minimum Deposit No minimum

Pros

  • Wallet supports 1,000+ tokens
  • No minimum token deposit

Cons

  • Needs to be used in conjunction with the Ledger hardware device
  • No transparency on exchange fees
  • Not suitable for short-term traders

8. Blockfolio (Now FTX) – Best Crypto Portfolio Tracker App

Blockfolio review

Blockfolio is a hugely popular crypto app that allows you to track the performance of your digital asset portfolio. The app has, however, since been purchased by tier-one crypto exchange FTX. This is good news if you are looking to combine tracking tools with crypto trading services.

blockfolio app review

In total, Blockfolio support over 10,000 cryptocurrencies – all of which can be tracked in real-time. Moreover, the FTX acquisition means that you can now fund your account with fiat money. FTX is also known for its cryptocurrency derivatives, which enable you to trade digital assets with high leverage limits.  

Number of Cryptos 10,000+
Commission Structure Based on FTX prices
Debit/Credit Card Fee Facilitated by FTX
Minimum Deposit No minimum deposit

Pros

  • Track 10,000 cryptocurrency prices in real-time
  • Now owned by FTX – which gives you access to trading services

Cons

  • FTX acquisition means that the app is more suited to seasoned investors
  • High leverage limits can be extremely risky

9. Wealthsimple – Combine Crypto and Stock Investments via a Single App

welathsimple review If you’re looking to create an investment portfolio that consists of both cryptocurrencies and traditional stocks, Wealthsimple could be the right app for you. This popular app is used by over 2 million Canadians – many of which are casual investors that wish to gain access to the financial markets in a user-friendly way.

There are dozens of cryptocurrencies that you can buy on the Wealthsimple app – all of which require a minimum investment of just $1. This will suit those of you that want to buy Bitcoin and other crypto assets with a small amount of money. You can keep your crypto tokens at Wealthsimple until you are ready to cash out or transfer the funds to a private wallet.

welathsimple review

In terms of safety, Wealthsimple is regulated in Canada and the firm has custodial coverage with Gemini Trust. You can also protect your account with two-factor authentication for added security. Wealthsimple is also known for its friendly and responsive customer service team. Finally, the Wealthsimple app is available on both iOS and Android devices.

Number of Cryptos 45+
Commission Structure Spread-only – up to 2%
Debit/Credit Card Fee FREE
Minimum Deposit No minimum deposit

Pros

  • Supports both crypto and stocks
  • Used by more than 2 million Canadians

Cons

  • Huge spreads of up to 2% on crypto trades
  • More suited to passive investors

10. Newton – Crypto App Offering Fast Account Set-Up and Instant Verification

newton app review The final provider to consider from our list of the best cryptocurrency apps in Canada for 2022 is Newton. This domestic-based exchange offers an online platform and mobile app for iOS and Android. One of the best things about this provider is that it takes less than two minutes to open an account.

newton app review

Moreover, you can get yourself verified instantly – so you don’t need to wait to purchase your first crypto asset. Newton customers benefit from high liquidity levels and top-rated customer support. Moreover, no commissions are charged on cryptocurrency buy and sell orders. When it comes to funding your account, you can choose from a bank wire or Interac e-Transfer.

Number of Cryptos 60+
Commission Structure Commission-free, variable spread
Debit/Credit Card Fee Not supported
Minimum Deposit No minimum deposit stated

Pros

  • 60+ coins supported
  • Commission-free

Cons

  • No transparency on spreads
  • No margin trading accounts
  • Too basic for experienced investors

Top Canadian Crypto Apps Compared

Check out the table below for a comparison of the 10 best crypto apps in Canada that we reviewed above.

Crypto Apps Number of Coins Commission (Excluding Spread) Debit/Credit Card Fee Minimum Deposit
Bitbuy 15 0.20% per slide Not supported $50
Crypto.com 250+ Up to 0.40% 2.99% $20 for bank transfers
Binance 50+ 1.49% 3.99% No minimum deposit stated
Coinbase 600+ Up to 0.10% Depends on processor No minimum deposit stated
Kraken 65+ Up to 0.26% N/A in Australia $5 via bank transfer or Osko
Coinsmart 16 Up to 0.3% per slide 6% Depends on the payment method
Ledger Nano X 1,000+ Fee built into exchange prices Only supported on hardware purchase No minimum deposit on crypto deposits
Blockfolio (Now FTX) 10000 Facilitated by FTX Facilitated by FTX No minimum deposit
Wealthsimple No minimum Commission-free, spread up to 2% Free No minimum deposit
Newton No minimum Commission-free, plus variable spread Not supported No minimum deposit stated

When researching the best apps to buy crypto in Canada – the above figures were accurate at the time of writing.

How to Choose the Best Crypto App for You

When choosing the best crypto trading app in Canada for your trading requirements and skillset, consider the factors discussed below. This will ensure that your chosen crypto app is the right fit for you.

Safety and Regulation

The best Canadian crypto apps offer a secure and regulated trading environment. For instance, both Bitbuy and Wealthsimple are approved to offer crypto brokerage services in Canada.

Then you have Coinbase, which is regulated in the US, albeit, it has the legal remit to service Canadian residents. Some crypto apps in Canada are, however, not licensed – so these providers should be avoided.

User Experience

We found that the likes of Bitbuy and Crypto.com offer the best user experience across both iOS and Android.

When testing these two apps out ourselves, it took just minutes to get set up, and finding our preferred crypto assets was a breeze. We also found it simple to place investment orders.

Tradable Cryptos 

In order to choose the best crypto app in Canada for your trading requirements, you need to ensure that the provider supports your preferred markets.

bitbuy supported coins

For instance, while all of the apps discussed today support large-cap tokens like Bitcoin and Ethereum, some are lacking when it comes to smaller coins.

Fees 

We prefer crypto apps that are transparent about the fees they charge. With that said, in some cases, we had to do a lot of digging to assess what fees the app provider charges for specific services.

Overall, Bitbuy came out as one of the most competitively priced crypto apps, as you will be charged 0.2% per slide when buying and selling tokens. Moreover, deposits are charged at 1.5%.

Tools & Features 

If you’re looking for specific trading features – such as technical indicators or live pricing alerts, you should check the provider’s website to ensure that these are supported.

bitbuy trading exchange

The best features that we came across are offered by Crypto.com – which includes interest accounts, loans, and an NFT marketplace.

Payment Methods 

Many of the crypto apps discussed today allow you to deposit funds via Interac e-Transfer – which is usually credited to your account in a matter of minutes. Some providers, such as Crypto.com, also support debit/credit cards.

Be sure to check what the minimum deposit and withdraw amount equates to.

Customer Service 

The best Canadian crypto apps in Canada offer customer support around the clock. At Bitbuy, for instance, the support team operates on a 24/7 basis. This ensures that no matter what time of the day you seek assistance – Bitbuy has you covered.

Best Crypto Wallet Apps

When you buy digital currencies from one of the 10 crypto app providers reviewed today, your tokens will be deposited into a web wallet. This means that you can keep the tokens there until you are ready to cash out.

However, you should assess what security tools are in place to keep your tokens safe. After all, many crypto exchanges have been hacked in recent years. In some cases, this has resulted in customers of the hacked exchange losing money.

We found that the overall best crypto wallet in terms of safety, convenience, and user-friendliness is offered by Bitbuy. Not only is the provider approved by the Ontario Securities Commission, but it keeps at least 95% of client tokens in cold storage.

Crypto Price Alert Apps

Most of the top crypto apps in Canada that we came across will offer real-time price alerts. This means that you will receive a notification when a price alert is triggered.

When searching for the best app to buy crypto, we found that some pricing alert services allow you to set your own parameters.

For example, you might elect to receive an alert when BNB drops by 3% in a 24 hour period, or Ethereum surpasses a price of $4,000.

How to Use a Crypto Trading App in Canada

If you’re looking to invest in digital currencies right now – this section of our guide will show you how to get set up with Bitbuy – which we found to be the overall best crypto app in Canada.

Step 1: Open an Account

The first step is to visit the Bitbuy website to open an account.

open bitbuy account

You will need to provide some personal information alongside your email address and cell phone number.

Step 2: Upload ID

In most cases, Bitbuy can automatically verify your account once you upload a copy of your government-issued ID.

Step 3: Download App

Now that you have a verified account, you can download the Bitbuy app to your iOS or Android device.

download bitbuy app on iOS

Then, open the app and sign in to your newly created account.

Step 4: Deposit Funds

You can deposit a minimum of just $50 into the Bitbuy app when opting for an Interac e-Transfer payment. You will pay a fee of 1.5% and the funds should be credited into your account near-instantly.

Step 5: Buy Crypto

Once your Interac e-Transfer deposit has gone through, you can then click on the ‘Express Trade’ button.

buy crypto on bitbuy app

Next, choose the cryptocurrency that you want to buy and enter your total stake.

After confirming the order, Bitbuy will add the digital tokens to your portfolio.

Conclusion

Choosing the best crypto app in Canada will require some DIY research. Core factors to look for when researching crypto apps include supported coins, regulations, fees, and trading tools.

To fast-track the process, we found that the overall best crypto app in Canada for 2022 is Bitbuy. This popular iOS and Android app enable you to open a verified account in less than five minutes and you’ll be able to trade crypto at just 0.20% per slide.

For added convenience, you can deposit Canadian dollars into the Bitbuy app via Interac e-Transfer.

BitBuy Logo

Cryptoassets are a highly volatile unregulated investment product. 

Frequently Asked Questions on Canadian Crypto Apps

What crypto apps are there in Canada?

What is the best crypto app in Canada?

Which are the best platforms to buy crypto in Canada?

What is the best app to buy Bitcoin in Canada?

This news is republished from another source. You can check the original article here

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