Honestly, had I been writing this post a few months ago — FTX would have been at the top of this list as my favorite exchange to trade on. Shows how much I know and how risky the crypto world is.
Since the FTX collapse, I now need a new exchange for trading crypto. I've compiled a list of centralized exchanges that are my current top favorites to lose money trading on. :)
Every dashboard screenshot is from my accounts on these exchanges. I have signed up, verified my account, and traded on all of these crypto exchanges.
If you are having trouble funding or withdrawing funds from the larger international exchanges because you are Canadian — I recommend using a Canadian-based crypto exchange to convert your $ CAD into crypto and then sending that crypto to one larger exchange to trade.
1. NDAX
NDAX is the only Canadian-based crypto exchange on this list. They are based in Calgary, Alberta.
NDAX Trading Dashboard
2. Kraken Pro
Kraken Pro is an advanced cryptocurrency trading interface designed from the ground up for professional traders.
Kraken Pro
3. Coinbase Pro (Advanced)
Coinbase Advanced Trade
4. Crypto.com
Crypto.com kind of hides the advanced exchange from new website visitors. Navigate to the footer of the website and click > Exchange Home in the Exchange menu.
Crypto.com Trading
Best Platforms for Crypto Traders
When choosing a platform for trading cryptocurrencies in Canada, here are some important factors to consider:
- Regulation: Ensure that the platform is regulated by a reputable financial authority, such as the Canadian Securities Administrators (CSA).
- Security: Look for platforms with strong security measures, such as two-factor authentication and secure storage for digital assets.
- Fees: Consider the fees for buying, selling, and trading cryptocurrencies, as these can vary significantly between platforms.
- User-friendly interface: Choose a platform with a user-friendly interface, which makes it easy to buy, sell, and trade cryptocurrencies.
- Cryptocurrency offerings: Check the platform offers a wide range of cryptocurrencies to trade, including the ones you are interested in.
- Customer support: Good customer support can be invaluable, especially if you run into any issues while trading. Choose a platform with responsive and knowledgeable support staff.
- Payment options: Make sure the platform accepts payment methods that are convenient for you, such as bank transfers, credit/debit cards, or e-wallets.
Remember to thoroughly research and compare several platforms before making a decision, and only invest what you can afford to lose. This list is what I am using and considering for trading. And I have been wrong lots before.