Coinbase alternatives

Compare the best alternatives to Coinbase for Canadian crypto traders.

Updated 22nd November 2022

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Comparing Coinbase alternatives

Bitbuy

On website

Featured

Bitbuy

Highlights

  • Bitbuy’s brokerage fee is generally lower compared to Coinbase.
  • There are more than 50 cryptocurrencies listed on Coinbase, which is more than on. Bitbuy.
  • Bitbuy only accepts deposits in CAD.

Pros

  • You can earn a signup bonus.
  • Competitive trading fees.
  • Assets are insured and held in cold storage.
  • User-friendly website and mobile app.

Cons

  • Deposit and withdrawal fees apply.
Coinsquare

On website

Highlights

  • Many more cryptocurrencies are listed on Coinbase compared to what's available on Coinsquare.
  • Enjoy low, transparent fees and no trading minimum. Fees on Coinbase are more complicated.
  • Both exchanges are FINTRAC-registered and regulated MSBs.

Pros

  • Quick verification process.
  • 820+ trading pairs available.
  • Has a referral program.

Cons

  • A limited selection of cryptocurrencies.
NDAX

On website

Highlights

  • To get started, NDAX will require a minimum deposit of $100.
  • NDAX’s customer support representatives are on stand by 24x7 to help you with any questions that you may have.
  • Both exchanges are appropriate for beginners and store digital assets in cold storage facilities.

Pros

  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.

Cons

  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents
Coinberry

On website

Highlights

  • Coinbase has a wider choice of cryptocurrencies to trade than what’s available on Coinberry.
  • Coinberry’s fees for deposits and withdrawals are cheaper compared to those on Coinbase.
  • Coinberry is based in Toronto, Canada and only supports clients based in Canada. Both exchanges are registered and regulated by FINTRAC.
  • Both exchanges use cold storage facilities, with Coinberry using Gemini.

Pros

  • Easy sign-up process and instant verification.
  • No fees to deposit or withdraw fiat.
  • There is a $200 million crypto asset insurance.
  • Easy to use mobile app.

Cons

  • Limited choice of altcoins.
  • High trading spreads.
CoinSmart

On website

Highlights

  • There are more tradable crypto assets available on Coinbase than there is on CoinSmart.
  • CoinSmart’s trading fees are simple and transparent compared to Coinbase.
  • Withdrawals are more expensive on Coinbase versus CoinSmart.
  • Both exchanges are regulated and licensed by FINTRAC in Canada and FINCEN in the US.

Pros

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.
Binance

On website

Binance

Highlights

  • Binance has a substantially larger crypto market compared to Coinbase.
  • A much more substantial range of altcoins, NFTs, and DeFi tokens are available on Binance.
  • Binance caters more to advanced crypto traders and is comparable to Coinbase Pro.
  • Binance is restricted in Ontario, whereas Coinbase is accessible across Canada.

Pros

  • It has some of the lowest trading fees out there. 0.1% for spot trading and 0.5% for instant buy or sell fees.
  • Credit card or debit card deposits are accepted.
  • Provides charting and trading tools suitable for advanced crypto traders.

Cons

  • The platform UI can be complicated to learn for new investors.
Kraken

On website

Kraken

Highlights

  • Kraken has listed more coins than Coinbase.
  • Kraken’s trading and withdrawal fees are lower than they are on Coinbase.
  • Both exchanges are headquartered in the US and are regulated by FINTRAC in Canada.
  • Offline cold storage is used by both exchanges.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
Shakepay

Highlights

  • Both exchanges are easy to use, especially for beginners.
  • There are multiple crypto investment options in Coinbase whereas Shakepay only supports Bitcoin and Ethereum.
  • Deposits and withdrawals are free on Shakepay, whereas Coinbase charges a fee..
  • Shakepay does not charge a trading fee, but each transaction incurs a spread fee.

Pros

  • Free transfers through Interac e-Transfer.
  • Commission-free.
  • Earn rewards.

Cons

  • Supports only Bitcoin and Ethereum.
  • Only available to Canadian residents
Gemini Exchange

On website

Gemini Exchange

Highlights

  • Like Coinbase, Gemini Exchange is a highly secure exchange.
  • Both exchanges cater towards beginners who are new to cryptocurrency.
  • All crypto held online in Gemini's exchange wallet is insured.

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.
Newton

Highlights

  • Newton cater to the mainstream traders like Coinbase with a very pleasing user experience.
  • Both exchanges support a large number of altcoins in addition to the main cryptocurrencies.
  • Fund and withdraw from your account for free with Newton.
  • Newton is built by and for Canadians. However, both exchanges are regulated by FINTRAC.

Pros

  • Clean user interface.
  • No commission fees.
  • Competitive spreads.
  • Earn $25 on its referral program.

Cons

  • Only accepts CAD deposits.
  • Verification times can be slow.
Wealthsimple Crypto

Wealthsimple Crypto

Highlights

  • Sign up in minutes with $0 minimums. No fees to deposit or withdraw from Wealthsimple.
  • Trade the main cryptocurrencies on either exchange, but Coinbase lists more (including many altcoins).
  • Wealthsimple use Gemini to store coins in cold storage with insurance coverage.

Pros

  • No commission.
  • No fees for transferring funds.
  • Availability of educational resources.
  • Perfect for beginners.

Cons

  • Accepts only 2 fiat currencies.
  • High spreads may apply.