Best Crypto Apps to Buy Bitcoin in Canada

In Canada, the interest in cryptocurrencies, especially Bitcoin, has grown exponentially over the past few years. With more Canadians looking to invest in Bitcoin, finding the right app that is secure, user-friendly, and compliant with Canadian regulations is crucial. In this article, we'll explore some of the best apps available in Canada for purchasing Bitcoin, focusing on their features, fees, and overall user experience.

Wealthsimple Crypto:
Wealthsimple, a well-known Canadian financial services provider, offers a dedicated crypto trading platform called Wealthsimple Crypto. It's a great option for beginners due to its easy-to-use interface and integration with other Wealthsimple financial products. Wealthsimple Crypto allows users to buy and sell Bitcoin and other cryptocurrencies with no commissions. However, there is a 1.5-2% operational fee included in the price spread. The platform is regulated by the Canadian Securities Administrators (CSA), ensuring that it meets Canadian legal standards.

Coinsquare:
Coinsquare is one of Canada's most established and well-respected crypto exchanges. It offers a robust trading platform with advanced features suitable for both beginners and experienced traders. Coinsquare supports a variety of cryptocurrencies, including Bitcoin, and offers several funding options, such as Interac e-Transfer, wire transfer, and credit card. The platform charges a 0.1% to 0.2% trading fee depending on the trading pair, making it a cost-effective choice for regular traders. Coinsquare is also registered with FINTRAC, which adds a layer of security and compliance with Canadian regulations.

Newton:
Newton is a rapidly growing Canadian cryptocurrency exchange that offers a commission-free trading experience. The platform is known for its transparency, as it doesn't charge any hidden fees. Newton provides users with a wide range of cryptocurrencies, including Bitcoin, and supports funding via Interac e-Transfer, wire transfer, and bank drafts. The platform's user interface is clean and straightforward, making it a good option for those new to cryptocurrency trading. Newton is also regulated by FINTRAC, ensuring that it adheres to Canadian legal requirements.

Shakepay:
Shakepay is a popular app among Canadians for buying Bitcoin. It offers an extremely simple and intuitive interface, making it perfect for beginners. Shakepay allows users to buy Bitcoin instantly using Interac e-Transfer with no fees, and they also offer the unique feature of earning "shakes" by referring friends, which can accumulate to give users free Bitcoin. Shakepay is compliant with Canadian regulations and keeps the majority of its funds in cold storage, providing an additional layer of security for its users.

Bitbuy:
Bitbuy is a Canadian-owned and operated cryptocurrency exchange that has gained a reputation for its security and reliability. It offers a straightforward platform for buying and selling Bitcoin, and also features an advanced trading platform for more experienced users. Bitbuy charges a trading fee of 0.2% for basic trades and 0.1% for pro trades. It supports funding through Interac e-Transfer, wire transfer, and Flexepin vouchers. Bitbuy is a registered Money Services Business (MSB) with FINTRAC, ensuring compliance with Canadian laws and regulations.

Coinberry:
Coinberry is another top choice for Canadians looking to buy Bitcoin. It is known for its user-friendly interface and no-fee funding options, including Interac e-Transfer and wire transfers. Coinberry charges a 0.5% trading fee and offers a wide range of cryptocurrencies, including Bitcoin. The platform is registered with FINTRAC and complies with Canadian regulations, making it a secure option for Canadian users.

Choosing the Right App:
When choosing the best app to buy Bitcoin in Canada, it's important to consider factors such as security, ease of use, fees, and regulatory compliance. Wealthsimple Crypto is a great option for those looking for a simple, integrated financial experience. Coinsquare and Bitbuy are excellent choices for those who want more advanced trading features, while Newton and Shakepay are ideal for users looking for a no-fee, straightforward experience. Coinberry stands out for its user-friendly approach and secure platform.

The best choice depends on your specific needs as an investor. Whether you're a beginner or an experienced trader, Canada offers a variety of reliable platforms to buy Bitcoin securely and efficiently.