Author Archives: JMD Live Online Business Consulting

NEWTON 2024 Review

08 Monday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

Newton is one of the best beginner-friendly crypto exchanges with low trading fees in Canada.

Newton offers popular digital currencies such as Bitcoin, Ethereum and Polkadot as well as many other alt-coins that we think may explode in 2024. Newton has a sleek, modern interface that will appeal to beginner crypto investors. Its cryptocurrency trading platform is easy to navigate, and users can take advantage of free deposits and withdrawals.

One of the key advantages of using Newton is its fee structure. The platform offers 0% fees for CAD funding, CAD withdrawals, and crypto deposits/withdrawals, with up to a $5 network fee waiver. Additionally, Newton does not charge commissions or trading fees, making it an economically attractive option for traders.

Newton supports various deposit methods, including Interac e-Transfer, Wire transfer, and the ability to directly connect a bank account, which is particularly convenient for users dealing with Canadian dollars.

Newton’s ease of use and focus on popular cryptocurrencies make it the premier choice for beginner traders in Canada’s cryptocurrency market.

It also offers instant verification, which is great if you want to purchase your first crypto fast.

If you would like more advanced trading features, Newton is working on a Pro trading platform that is currently in its Beta stage.

Pros:

  • No deposit or withdrawal fees
  • Wide selection of coins available
  • You can export a T5 statement
  • Sleek interface
  • Newton Pro for advanced traders in Beta stage

Cons:

  • No live chat support.
  • No credit card deposits. Debit must be pre-approved.
  • High fee on spreads

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Coinbase 2024 Exchange Review

08 Monday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, ,

Coinbase is the largest U.S.-based exchange. It has a wide variety of options for users from beginners to advanced traders.

Coinbase was included in our “Best Crypto Exchanges in Canada” list only in December 2023, primarily due to introducing Interac e-Transfer for Canadian users, simplifying fund deposits. This feature allows easy and convenient deposit of funds from any Canadian online bank account, addressing a major hurdle for Canadian crypto traders. However, despite this improvement, Coinbase is still standing at the bottom of our list of preferred Exchange platforms for Canadians. The reason for this ranking being its fee structure.

The fees on Coinbase are among the highest in the crypto exchange industry. This includes a 3.99% fee for buying cryptocurrencies, a 0.50% fee per trade, and a spread that can go up to 2% for crypto-to-crypto trades. While Coinbase has built a reputation as an ideal platform for novice traders, thanks to its simplicity and robust security measures, these high fees significantly impact its attractiveness.

The cost of trading on Coinbase, due to its high fees, is a major downside that cannot be overlooked.

Pros: 

  • Easy for beginners 
  • Fully compliant in Canada
  • Easy deposits with Interac e-Transfer
  • Great UI
  • Wide range of cryptocurrencies
  • Learn to earn crypto
  • Educational resources
  • Secure and compliant

Cons: 

  • High fees
  • Advanced tools only in Coinbase Pro
  • Poor customer service
  • Exchange has frequent downtime
  • Limits on your purchases

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Uphold Review 2024

05 Friday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

Pros

  • Wide range of cryptocurrencies
  • Trade stocks and precious metals
  • Swap crypto for stocks or metal in seconds
  • Recurring buy/sell orders
  • Educational resources
  • 50 simultaneous Limit orders allowed
  • Free debit card purchases 

Cons

  • High spreads
  • Uphold debit card not available to Canadians
  • Bank deposits/withdrawals not available for Canadians 
  • 3.99% credit card processing fee
  • Lack of search filters for equities

Released in 2015, Uphold is the best crypto exchange for multi-asset trading in Canada. Not only can you trade 60+ popular digital currencies but you can also trade US stocks or precious metals. This is why many Canadian crypto investors prefer Uphold over others.

Uphold is a versatile cryptocurrency exchange, offering a unique range of deposit methods including credit/debit cards, direct cryptocurrency deposits, equities, and even precious metals. This exchange supports multiple currencies such as Canadian dollars (CAD), USD, and Euros, making it accessible for a global user base.

Designed with beginners in mind, Uphold provides an easy-to-navigate interface and a diverse asset portfolio. Users can trade from over 65 cryptocurrencies, invest in more than 50 US stocks, and deal with 4 different precious metals.

In terms of fees, the platform maintains a 1.8% spread on most cryptocurrency trades, a competitive 1% spread on equities, and a 3% spread on metal trades. Notably, debit card purchases on Uphold are free of charge. While the spreads are quite high at 1.8% for Canadians, we still think Uphold is one of the best crypto exchanges for Canadians because debit card purchases are free. If your bank allows the transaction, you can buy crypto from Uphold without additional card charges. You can manage all your assets on the desktop trading platform or on Uphold’s mobile app.

With Uphold’s “Anything to Anything” function, you can trade crypto to crypto, or trade crypto for a US stock, or a precious metal, in a few clicks. Not only that but you can place up to 50 simultaneous limit orders without putting up capital for each order. No other Canadian cryptocurrency exchange allows this many limit orders at once, so we think that makes Uphold one of the best crypto exchanges in Canada.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Shakepay Review 2024

05 Friday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

Shakepay is a Montreal-based trustworthy Canadian exchange that offers free and fast deposits and withdrawals and is considered one of the best Canadian crypto exchanges for beginners. You can deposit Canadian dollars (CAD) via Interac e-Transfer or wire transfer. Verification can be instant meaning you can start depositing and trading right away.

Shakepay is fast, beginner-friendly, and has a modern interface.

Shakepay offers two coins only: Bitcoin and Ethereum.

Shakepay stands out for its free deposits and withdrawals, a feature that can be particularly attractive for users. However, it is important to note that the exchange has a relatively high spread, ranging from 1.2% to 2.5%. This spread, which is the difference between the buying and selling prices, can significantly impact the cost of transactions, making trading fees on the higher side.

Shakepay does not offer advanced trading tools because it is aimed at new crypto users and those looking for a simple, easy-to-use experience.

Pros

  • Fast and free deposits and withdrawals
  • Unique referral program
  • Responsive customer support
  • A highly rated app
  • Beginner-friendly interface

Cons

  • Only accepts CAD deposits.
  • Manual verification can take seven days.
  • Only Bitcoin and Ethereum are available.
  • High spread

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Kraken Review 2024

05 Friday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

Launched just two years after Bitcoin (BTC), Kraken is one of the most established crypto exchanges on the market. Kraken is one of my preferred exchange platforms but is not available to Canadians.

Here is what you need to know: As of November 30th, 2023, Kraken has suspended deposits, withdrawals, and trading in Canada across all trading platforms for Tether (USDT), Dai (DAI), Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), and Wrapped Axelar (WAXL).

Kraken Pros & Cons

Pros

  • Large selection of digital assets.
  • Low fees for advanced traders.

Cons

  • Limited options for funding accounts.
  • Not available in Canada and all U.S. states.
  • High fees for buying in USD.

Launched just two years after Bitcoin (BTC), Kraken is one of the most established crypto exchanges on the market. While Kraken has tools, products, and informational resources for beginning crypto investors, many of its offerings are targeted toward people with more experience.

Where Kraken shines

Large selection: Kraken lets its customers buy more than 230 different cryptocurrencies, and the service offers more than 130 crypto trading pairs.

Relatively low fees: While Kraken’s rates for entry-level traders can be high, fees on its more advanced Kraken Pro service are among the lowest reviewed by NerdWallet.

Where Kraken falls short

Limited funding options: Kraken has limited options for U.S. customers who want to put money into their account. The platform uses a service called Trustly to allow people to connect their bank accounts, and Kraken says this method works with more than 1,000 financial institutions. But if your bank is not among those institutions, you will have to wire money into your account, a process that can involve calling your bank to arrange the transaction.

Not available everywhere: The exchange is not open to people in New York, Washington state and Canada.

Kraken is best for:

  • Crypto-to-crypto trading.
  • Margin trading.
  • Advanced traders.

Is Kraken right for you?

While Kraken has tools, products, and informational resources for beginning crypto investors, many of its offerings are targeted toward more seasoned investors.

If you are comfortable with a more advanced interface and are looking for access to a broad range of investment options, Kraken offers a reasonably priced experience.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

The “Pig Butchering” Crypto Scam Explained

05 Friday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , , , , ,

Digital swindles generate billions of dollars for criminals. And they all start with a little bit of “social engineering” to trick a victim into doing something disadvantageous, whether trusting you should not or sending money into the void.

Now, in the Crypto World, a new variation of these schemes is on the rise, ensnaring unsuspecting targets to steal all their money: the “Pig Butchering Crypto Scam.” Pig butchering scams originated in China. These scams are typically cryptocurrency schemes.

Scammers cold contact you on SMS texting or other social media, dating, and communication platforms. Most of the time, they will simply say “Hi” or something like “Hey, it was fun catching up last week!”

If you respond to say that the attacker has the wrong number, the scammer seizes the opportunity to strike up a conversation and guide you toward feeling like they have hit it off with a new friend.

Usually, the conversation will go something like this:

SCAMMER: “Hi, it was fun catching up last week!”

YOU: “May I know who is texting me, I do not recognize this number!”

SCAMMER: “Sorry, I may have the wrong number, I hope I did not … May I have your name?”

YOU: “My name is Peter….!”

SCAMMER: “Nice to meet you Peter. My Name is Lina. How hold are you?”

And the conversation will go on and on

SCAMMER: “ I am 35; her is my picture; age is of no importance; you sound very nice; are you married; any kids; ….. I am also single; no kids; no boyfriends; I like older men;

And there you are, in a romance building relationship.

After establishing a romantic rapport, the attacker will introduce the idea that they have been making a lot of money in cryptocurrency investing and suggest you consider getting involved while you can.

Next, the scammer gets you set up with a malicious app or web platform that appears trustworthy and may even impersonate the platforms of legitimate financial institutions. Once inside the portal, you can see curated real-time market data meant to show you the potential of the investment. And once you fund your “investment account,” you can start watching their balance “grow.”

Crafting the malicious financial platforms to look legitimate and refined is a hallmark of Pig Butchering scams, as are other touches that add verisimilitude, like letting you do a video conference call with your new “friend” or allowing you to withdraw a little bit of money from the platform to reassure you. The latter is a tactic that scammers also use in traditional Ponzi schemes.

Though the swindle has some new twists, you can still see where it is going. Once you have deposited all the money you have and everything the scammers can get you to borrow, the attackers shut down the account and disappear. That is the whole Pig Butchering thing; they are going for the whole hog. They go after people who are vulnerable: people who have had long-term health problems, who are older, people who feel isolated. They want to get every bit of oink, and they are persistent.

As with romance scams and other highly personal and exploitative attacks, Pig Butchering scams have the potential to take an enormous psychological toll on you in addition to their financial toll.

It eats you up really freaking bad.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

BITCOIN WELL Review

04 Thursday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

Ranking at number 5 on our list of preferred Canadian exchange platforms is Bitcoin Well. One might wonder why it is not placed higher. The primary reason is its singular focus on Bitcoin; you will not find an array of other coins here. However, if Bitcoin is solely what you are after, Bitcoin Well could very well rise to the top of your personal list.

One of the standout features of Bitcoin Well is its highly competitive fee structure. While a 0.5% transaction fee is already notably low in the crypto exchange landscape, what sets Bitcoin Well apart is the degree of control it offers users.

Users can add Canadian dollars to their accounts using an Interac e-Transfer, wire transfer, Visa debit, or even through Bitcoin ATMs. The crypto platform exclusively deals in Canadian dollars (CAD), making it a straightforward choice for Canadian users.

Unlike many other exchanges, Bitcoin Well does not offer a mobile crypto app for iOS or Android, which might be a consideration for users who prefer trading on the go.

Beyond just trading, Bitcoin Well ventures into a relatively unique territory by enabling users to pay their bills with bitcoin. Users can easily find their bill providers in the platform’s dropdown menu, input the necessary details, and seamlessly use their bitcoin holdings to settle their dues.

Security is a top priority for Bitcoin Well. Being a public company, it adheres strictly to Canadian regulations and is registered with FINTRAC.

Pros: 

  • Bitcoin Well, being a public company, offers unmatched transparency combined with the advantage of immediate self-custody of assets, and the option to buy bitcoin privately with cash.
  • Users experience the convenience of no withdrawal fees, multiple online payment options like Visa debit, e-Transfer, and wire, and the unique capability to pay bills with Bitcoin.

Cons: 

  • You can trade Bitcoin only.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

BTCC Exchange Review: Everything You Need to Know

03 Wednesday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, , , ,

BTCC is a registered exchange in the US, Canada, and Europe. BTCC was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone.

BTCC is one of the world’s largest, yes most confusing, cryptocurrency trading platforms. Based in Hong Kong, this Chinese exchange has been rocked by vacillating Chinese regulations and has had to suspend various services at times during the past several years. 

The exchange limits itself to providing solutions to investors looking to acquire, sell, and trade cryptocurrency Futures. This means that services like staking, pool mining, spot trading, and many others are not available.

In 2022, BTCC launched tokenized futures, an innovative product invented by the exchange, on its platform, allowing users to trade stocks and commodities futures with USDT as the margin. BTCC has obtained MSB regulatory licenses in the U.S. Canada, Europe respectively.

Investors in BTCC must be able to deal in US dollars. Deposits and withdrawals can be performed via credit/debit card, bank transfer, or Bitcoin.

Conclusion

If you have just started to dabble in the world of cryptocurrencies, the interface of most crypto brokers might appear overwhelming to you. However, the user interface of BTCC is straightforward. Without any complex mumbo jumbo, the exchange gives you exposure to the top digital assets of the world. You can start your crypto journey today by signing up on BTCC today and start trading within a few minutes.

BTCC is one of the few brokers in the industry which also allows you to demo trade without having to deposit any funds. This makes it one of the best crypto exchanges for paper trading or demo trading. Utilizing this feature, you can learn crypto trading with proper risk management without investing any real money.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

BitBuy Review

01 Monday Jan 2024

Posted by in General

≈ Leave a comment

Tags

, ,

Bitbuy is one of the most popular cryptocurrency exchanges in Canada. It was founded in 2016 and has its headquarters in Toronto.

Bitbuy is one of the leading cryptocurrency exchanges in Canada, founded in June 2016 by Adam Goldman.  Its company headquarters are based in Toronto, Ontario, Canada, and  currently serves more than 400,000 Canadians with support for 15  cryptocurrencies.

The exchange is run and operated by Bitbuy Technologies Inc., a division of crypto investment company First Ledger Corp. In January 2022, WonderFi,  a Vancouver-based technology company that is publicly listed on the NEO  Exchange, bought out First Ledger Corp to gain exclusive rights over  the operations of Bitbuy.

Despite its storied ownership history, Bitbuy is  among the best options for Canadians looking to invest in the nascent  digital asset market, offering two main services: cryptocurrency  brokerage and exchange. Advanced cryptocurrency traders will gravitate towards the Pro trade service, which has most of the bells and whistles needed to carry out effective trading activities.

The biggest advantage to using the Pro trade feature is that traders have more control over the price at which they enter or exit their positions and how much they pay for the trades. Additionally, traders can save on trading fees as the Pro trade feature is much cheaper than the Express trade.

Bitbuy is a Canadian cryptocurrency exchange, caters primarily to Canadian users, allowing deposits in Canadian dollars via Interac e-Transfer and wire transfer. It offers a diverse range of cryptocurrencies, including popular options like Bitcoin, Ethereum, Litecoin, and newer additions such as Solana, Cardano, and Polygon.

Front and center on Bitbuy’s website is the best Canadian crypto exchanges featuring the Canadian flag. They are fully regulated. The major downside of Bitbuy was their deposit fees which were 1.5%! However, they listened to their customers and waived it in 2023 so the only fee you pay now is 1.5% withdrawal fee which makes BitBuy one of the cheapest crypto trading platforms in Canada.

Pros:

  • Bitbuy caters to both beginners and advanced traders with its two separate platforms – Express Trade and Pro Trade. Great for both beginners and advanced users
  • Free deposits via Interac e-Transfer
  • Bitbuy has a solid reputation for providing Canadians with a secure trading platform 

Cons: 

  • Bitbuy is only available within Canada;
  • Bitbuy  has a limited number of coins available compare to global crypto exchanges (but they have the most popular ones)
  • High withdrawal fees
  • No phone or live chat support on the website

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

2024: Day Trading Cryptocurrencies in Canada

30 Saturday Dec 2023

Posted by in General

≈ Leave a comment

Tags

, , , ,

Selecting a crypto exchange in Canada can be complicated because the country has strict regulations for crypto markets. Even major crypto trading platforms like Binance and ByBit had to leave Canada, leading to troubles for their Canadian users. So, it is essential to be careful and make a wise choice when picking a crypto trading platform if you plan to start trading in cryptocurrency.

We have thoroughly examined, compared, and tested all crypto exchanges available for Canadians to use. Our selection of the best Canadian crypto exchanges is based on a unique methodology that considers various factors, including compliance with Canadian laws, trading fees, security and safety measures, the availability of deposits via Interac e-transfer, coin selection, app ratings from Canadian users, as well as ratings from customers.

When choosing a Canadian cryptocurrency app to purchase digital assets, it is essential to ensure they offer several deposit methods and accept CAD. We prioritized exchanges that allow Canadian deposits with Interac e-Transfer and charge 0% fees. Quick and cost-effective depositing of Canadian dollars is crucial for Canadian investors, and Interac e-Transfer is the preferred method as it is the fastest and most affordable option for Canadians.

While global popular exchanges like Coinbase and Binance may offer the ability to buy crypto with Canadian debit or credit cards, this often comes with high exchange rate fees over 3%. To obtain crypto at the lowest cost possible, using a Canadian-based cryptocurrency exchange that allows Interac e-Transfers is the way to go.

Ease of use

Figure 1

It is important to find a Canadian cryptocurrency app that makes the process of trading crypto as easy and intuitive as possible. Some reputable exchanges have advanced interfaces with charts, like the one shown in figure 1, and order books suitable for seasoned investors.

What is the best way to buy crypto in Canada?

There are a few different ways to buy crypto in Canada, and the best method for you will depend on your needs and preferences. If you are looking for the simplest and easiest way to get started with buying crypto, then using a Canadian crypto exchange like Bitbuy or Newton is probably your best bet. Ultimately, it is up to you to decide which method is best for you.

What are the Crypto Exchanges Authorized in Canada?

Canada has tough regulations for crypto exchanges operating within its borders. Typically, decisions regarding the legitimacy of these exchanges fall under the purview of FINTRAC and the Ontario Securities Commission. For instance, the OSC previously prohibited Binance and ByBit for Ontario residents. As a result, these exchanges, facing stringent FINTRAC guidelines, opted to leave the Canadian market altogether. Nonetheless, some exchanges, such as Bitget and Kucoin, continue to operate in Canada without adhering to these regulations. While it is essential to weigh the associated risks and benefits. If you want to be safe, it is good to use exchanges that follow Canadian laws. Here is a list of those compliant exchanges:

Which crypto exchange has the lowest fees in Canada?

There are a few different crypto exchanges that are popular in Canada, and each one has its own fee structure. Some exchanges charge higher fees for certain trades, while others have lower overall fees. You might think that Shakepay or Newton have the lowest trading fees in Canada because they are advertised as “no-fee exchanges”. In fact, you pay high spreads on your crypto trading activities. After careful research, we found out that BitBuy is the lowest trading fee cryptocurrency app in Canada with only %0.2 trading fees and free deposits.

As a reminder – please exercise extreme caution when transacting with cryptocurrency. Cryptocurrency transactions are not reversible.

If an individual has reached out to you claiming to represent a company, entity, law enforcement, or any government official you should exercise caution and inform them you will contact the company, entity, or the authorities directly to verify if they are legitimate.

Below are a few examples of red flags to be aware of that may help you identify a scam:

Unrealistic Promises

  • Any entity that asks for your private keys, passwords, or any personal information.
  • Any third-party investment broker or brokerages.
  • Any entity that promises to give great returns if you send funds to them.
  • Any entity that wants access or control of your funds.
  • Any entity forcing you or pressuring you to pay back any debts with crypto.
  • Any entity attempting to blackmail or extort you.

Let us know if you have any questions.

Happy trading!

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.