The Finder Crypto Trading Platform Awards program recognizes the best platforms for investing in crypto in Canada for 2023.Finder’s cryptocurrency experts and data scientists crunched the numbers and scored crypto trading platforms on a comprehensive list of 63 criteria across 28 platforms. Special attention was paid to the availability of platforms in all Canadian provinces and territories, especially Ontario and Quebec, where access is often restricted. The platform with the highest score in each category was named the winner, with the products that scored second- and third-highest each receiving a “Highly commended” award. Here are the winners for 2023.Best crypto trading platform – overallThis award was given to the platform that had the highest average score across each of the 63 criteria.Winner: Crypto.comCrypto.com is like a super app for crypto. Canadians everywhere can instantly trade 270+ assets, earn yield or spend with the Crypto.com debit card.Highly commended: BinanceBinance provides Canadians with an affordable all-in-one crypto platform that extends far beyond trading to a range of services across the Web3 ecosystem.Note: Not available to Ontario residents.Highly commended: GeminiGemini gives access to simple and advanced trading modes, an NFT marketplace, staking and an insured wallet.Best crypto trading platform – valueThis award evaluates platforms based on their fees, with a focus on spot market and instant purchase fees. It also takes into account payment methods and the number of coins available to determine which platforms offer the most bang for buck.Winner: GeminiGemini provides excellent value to Canadians through its commitment to security and compliance with reasonable fees to match.Highly commended: BinanceBinance offers an impressive range of features on top of some of the lowest trading fees available in Canada.Note: Not available to Ontario residents.Best crypto trading platform – beginnersThis award recognizes brands that provide a beginner-friendly user experience. It upweights factors such as customer service, value for money, and access to instant purchase features.Winner: CoinbaseCoinbase is committed to making crypto investing accessible to everyone and offers learning rewards to help Canadians stay on top of the market.Highly commended: KrakenKraken is increasingly adding features for beginners such as a simplified trading interface and learning modules for each coin.Highly commended: WealthsimpleWealthsimple understands simplicity is key for beginners, and offers crypto trading and staking through an elegant mobile and desktop interface.Best crypto trading platform – instant purchasesThis award highlights platforms that provide a comprehensive instant purchase experience with an emphasis on value for money.Winner: Crypto.comThe Crypto.com app offers 270+ cryptos which can be purchased instantly using bank transfer, credit or debit card.Highly commended: BinancePurchase hundreds of cryptocurrencies instantly on Binance with your payment method of choice: cash, credit or debit card.Note: Not available to Ontario residents.Best crypto trading platform – altcoinsThis award focuses heavily on the number of coins and tokens available on the platform, in addition to liquidity and trading pairs.Winner: Crypto.comCrypto.com offers 270+ coins to Canadians everywhere, which can be purchased instantly via its popular mobile app.Highly commended: BinanceBinance has hundreds of cryptos available for trading through its app and desktop exchange.Note: Not available to Ontario residents.Best crypto trading platform – extra featuresThis award recognizes crypto platforms that offer a diverse range of products beyond the standard trading experience, such as NFTs, earning rewards and debit cards.Winner: Crypto.comThe Crypto.com ecosystem gives Canadians access to NFTs, earning rewards, DeFi and Web3, as well as a debit card for spending.Highly commended: BinanceBinance continues to innovate with its expansive set of features that extend beyond trading and into wallets, NFTs and Web3.Note: Not available to Ontario residents.Highly commended: GeminiGemini strives to ensure a secure and compliant environment for trading, staking, NFTs and managing your portfolio in its native wallet. Best crypto trading platform – advanced tradingThis award takes into account advanced trading features such as order types and charting tools as well as regulatory compliance, liquidity and fees.Winner: Crypto.comCrypto.com’s desktop exchange provides Canadian traders with advanced order types, charting tools and low fees across hundreds of assets.Highly commended: GeminiGemini’s ActiveTrader platform delivers a professional experience for traders with competitive fees.Highly commended: KrakenKraken’s Pro interface provides Canadians with all the features you’d expect from a trading platform with 10 years of expertise.Best homegrown Canadian crypto platformThis award celebrates local Canadian platforms that excel in delivering crypto trading services to customers here in Canada.Winner: WealthsimpleWealthsimple’s comprehensive investment platform offers 50+ cryptocurrencies for trading or staking, on top of a suite of portfolio management tools.Highly commended: VirgoCXVirgoCX provides a dedicated CAD spot market for 50+ cryptos and stands out for its innovative, automation-led trading features.Awards criteriaHere’s how our expert analysts assessed Canadian crypto trading platforms to pick the 2023 winner.Selection criteriaWe conducted an extensive review of the cryptocurrency market in Canada in late 2022.We attempted to include all of the platforms that are registered to operate in Canada, provided they met the requirements set by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to serve Canadian residents. Special attention was paid to the availability of services in all Canadian provinces and territories, with platforms receiving additional points for serving users in Ontario and Quebec. We then refined this list by applying Finder’s due diligence procedures.The result was 28 cryptocurrency exchanges and brokers who were then measured across 63 individual criteria. The award for “Best Crypto Trading Platform – Overall” was given to the product that had the highest overall score across all 63 criteria. All other categories were assessed using different combinations of criteria and weightings which depended on the category. For instance, the Value award upweighted scores based on fee data, and omitted criteria relating to advanced trading products. For more details on the specific weightings used in each category, read our full methodology.2022 winners2023 marks the second consecutive year of Finder’s Crypto Trading Platform Awards. The 2023 program builds on our previous analysis, taking into consideration even more data points and evaluating a larger number of platforms. Take a look at the 2022 Finder Crypto Exchange Award winners.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
