The 4 Best Cryptocurrency Apps in Canada: Secure & User-Friendly Options for 2023

## Introduction to Cryptocurrency Apps in Canada

Canada has emerged as a hub for cryptocurrency adoption, with over 13% of Canadians owning crypto assets as of 2023. This surge has fueled demand for reliable, secure, and user-friendly cryptocurrency apps tailored to Canadian investors. Whether you’re buying Bitcoin, trading altcoins, or exploring decentralized finance (DeFi), choosing the right platform is crucial. Below, we review the top four cryptocurrency apps in Canada and provide tips for selecting the best option for your needs.

## 1. Wealthsimple Crypto

**Overview**: Designed specifically for Canadians, Wealthsimple Crypto offers a beginner-friendly interface and seamless integration with CAD banking.

**Features**:
– Buy/sell 50+ cryptocurrencies, including Bitcoin and Ethereum
– $0 trading fees (spread included)
– Registered with FINTRAC and CIPF-insured
– Automatic recurring purchases

**Pros**:
– No minimum account balance
– Tax-efficient RRSP/TFSA integration
– 24/7 customer support

**Cons**:
– Limited advanced trading tools
– No crypto withdrawal option

## 2. Newton

**Overview**: A Toronto-based platform known for low fees and transparent pricing.

**Features**:
– Trade 70+ cryptocurrencies
– Instant CAD deposits via Interac e-Transfer
– Advanced charting tools
– Earn interest on idle crypto

**Pros**:
– Competitive spreads (0.50%-0.70%)
– Free CAD withdrawals
– SOC 2 Type 2 security certified

**Cons**:
– $5 minimum trade amount
– No futures/derivatives trading

## 3. Shakepay

**Overview**: Ideal for Bitcoin and Ethereum enthusiasts, Shakepay rewards users for daily engagement.

**Features**:
– Buy/sell BTC and ETH only
– “ShakingSats” rewards program (earn free Bitcoin daily)
– Instant CAD settlements
– Lightning Network support

**Pros**:
– No deposit/withdrawal fees
– Referral bonuses up to $30
– Cold storage for 95% of assets

**Cons**:
– Limited coin selection
– Spreads up to 1.75%

## 4. Bitbuy

**Overview**: Canada’s first regulated crypto exchange, offering pro-tier trading features.

**Features**:
– 25+ cryptocurrencies
– Express Trade (simple) and Pro Trade (advanced) interfaces
– Real-time order books
– OTC desk for large transactions ($50k+)

**Pros**:
– 98% cold storage insurance
– 24/7 phone support
– Lowest fees among regulated platforms (0.1%-0.2%)

**Cons**:
– 1.5% deposit fee for credit cards
– KYC required for all users

## How to Choose a Cryptocurrency App in Canada

Consider these factors when selecting a platform:
– **Regulatory Compliance**: Ensure FINTRAC registration and CIPF insurance
– **CAD Support**: Look for Interac e-Transfer compatibility
– **Fees**: Compare spreads, withdrawal costs, and hidden charges
– **Security**: Prioritize apps with 2FA and cold storage
– **Tax Tools**: Opt for platforms offering CRA-compliant reports

## FAQs About Cryptocurrency Apps in Canada

**Q: Are crypto apps legal in Canada?**
A: Yes, provided they comply with FINTRAC regulations and AML laws.

**Q: How are crypto profits taxed?**
A: The CRA treats crypto as a taxable asset. Capital gains apply to profits from selling or trading.

**Q: Can I link my Canadian bank account?**
A: Most apps support direct CAD deposits via Interac, wire transfer, or debit card.

**Q: Which app is best for beginners?**
A: Wealthsimple Crypto offers the simplest interface, while Shakepay’s rewards make learning engaging.

**Q: Do any apps offer staking?**
A: Newton and Bitbuy provide staking options for coins like Cardano and Polkadot.

## Final Thoughts

Canada’s top cryptocurrency apps combine robust security with features tailored to local investors. For casual users, Wealthsimple and Shakepay provide effortless onboarding, while Newton and Bitbuy cater to active traders. Always verify regulatory status and test platforms with small transactions before committing larger investments.