Best Apps to Buy and Send Bitcoin in Canada

When it comes to buying and sending Bitcoin in Canada, several apps stand out for their ease of use, security, and features. Choosing the right app can make a significant difference in your cryptocurrency experience. This article will explore the top apps available in Canada for purchasing and transferring Bitcoin, highlighting their strengths and potential drawbacks.

1. Coinbase

Coinbase is one of the most popular cryptocurrency platforms globally and is highly regarded in Canada. It is known for its user-friendly interface and robust security features.

Key Features:

• User-Friendly Interface: Coinbase offers a straightforward and intuitive interface, making it ideal for beginners.
• Security: With features such as two-factor authentication (2FA) and insurance on stored digital assets, Coinbase prioritizes user security.
• Supported Transactions: Users can buy, sell, and send Bitcoin with ease.
• Fees: While Coinbase provides a reliable service, its fees can be relatively high, including a spread of about 0.5% and transaction fees ranging from 1.49% to 3.99%.

Pros:

• Easy to use
• High security
• Supports a variety of cryptocurrencies

Cons:

• Higher fees compared to other platforms
• Limited customer support options

2. Kraken

Kraken is another highly recommended platform for buying and sending Bitcoin in Canada. It offers advanced features for more experienced traders and a secure environment.

Key Features:

• Advanced Trading Tools: Kraken provides a range of advanced trading features for those who are more experienced in cryptocurrency trading.
• Security: It employs robust security measures, including 2FA and cold storage for funds.
• Fees: Kraken's fee structure is competitive, with trading fees starting as low as 0.16% for makers and 0.26% for takers.
• Supported Transactions: Users can buy, sell, and transfer Bitcoin as well as trade various other cryptocurrencies.

Pros:

• Lower fees
• Advanced trading features
• High security

Cons:

• Can be complex for beginners
• User interface may not be as intuitive as some other platforms

3. Bitbuy

Bitbuy is a Canadian exchange specifically designed to cater to the needs of Canadian users. It offers a straightforward approach to buying and sending Bitcoin.

Key Features:

• Canadian Focus: Bitbuy is tailored to Canadian users, supporting CAD deposits and withdrawals.
• Security: Bitbuy offers strong security measures, including cold storage for most of its funds and 2FA.
• Fees: It provides competitive fees, with a trading fee of 0.1% for makers and 0.2% for takers.
• User Experience: The platform is known for its user-friendly design and efficient customer support.

Pros:

• Tailored for Canadian users
• Competitive fees
• Simple and effective user interface

Cons:

• Limited range of cryptocurrencies compared to global platforms
• Less advanced trading features

4. Wealthsimple Crypto

Wealthsimple Crypto is an extension of the popular Wealthsimple financial platform, offering a seamless way to buy and send Bitcoin.

Key Features:

• Integration with Wealthsimple: It integrates with the broader Wealthsimple platform, making it easy to manage both traditional investments and cryptocurrencies.
• User-Friendly: The app is designed for simplicity, catering to users who are new to cryptocurrency.
• Security: Wealthsimple Crypto provides robust security features, including 2FA and insurance.
• Fees: It charges a spread-based fee, which is generally competitive but not as transparent as some other platforms.

Pros:

• Easy integration with other Wealthsimple services
• Simple to use
• Good security features

Cons:

• Higher fees due to spread charges
• Limited to a few cryptocurrencies

5. Shakepay

Shakepay is a Canadian platform that allows users to buy and send Bitcoin with a focus on low fees and rewards.

Key Features:

• No Fees for Buying and Selling: Shakepay does not charge fees for buying and selling Bitcoin, although it makes money through the spread.
• Cashback Rewards: Users can earn Bitcoin cashback on eligible purchases through the Shakepay Visa card.
• Security: It offers strong security features, including 2FA and cold storage for most funds.
• User Experience: The app is known for its simplicity and ease of use.

Pros:

• No fees for transactions
• Cashback rewards
• Simple user interface

Cons:

• Higher spread compared to some other platforms
• Limited to Bitcoin and Ethereum

Comparison Table

App	Fees (Buying/Selling)	Security	User-Friendliness	Additional Features
Coinbase	1.49% to 3.99%	High (2FA, insurance)	High	Multiple cryptocurrencies
Kraken	0.16% to 0.26%	High (2FA, cold storage)	Moderate	Advanced trading tools
Bitbuy	0.1% to 0.2%	High (2FA, cold storage)	High	CAD support
Wealthsimple Crypto	Spread-based	High (2FA, insurance)	High	Integration with Wealthsimple
Shakepay	No fee, spread-based	High (2FA, cold storage)	Very High	Cashback rewards

Conclusion

Choosing the best app to buy and send Bitcoin in Canada depends on your specific needs and preferences. Coinbase and Kraken are excellent for those who prioritize advanced features and global reach. Bitbuy and Wealthsimple Crypto offer tailored experiences for Canadian users, while Shakepay provides a fee-free option with unique rewards. Assessing your needs—whether it's lower fees, advanced trading features, or a user-friendly experience—will help you find the right app for your Bitcoin transactions.