Cryptocurrency Wallets are a Crucial requirement for Selling, Buying, Trading, and storing your crypto assets. Traders require them to validate transaction information and safeguard cryptocurrency. Many types of crypto wallets, both hardware and software provide users with greater security and specialized functions.
Finding the best crypto wallet in Canada can be quite complicated. So, selecting one is indeed a difficult task. I have researched over 50+ crypto wallets and selected Canada’s 10 best crypto wallets.
Top Pick
Zengo crypto wallet is among the most secure crypto wallets. By leveraging MPC technology, Zengo removes the need for private keys. It is one of the best bitcoin wallets with a simple recovery process that allows users to access their Crypto and buy other cryptos directly from their Zengo wallet accounts.
Best Crypto Wallet Canada
| Wallets | Main Features | Hardware or Software? | Pricing | Canada Friendly? | Link |
|---|---|---|---|---|---|
| Zengo | Best to buy Crypto directly from the wallet | Software Wallet | Free | Yes | Learn More |
| Uphold | Set up automatic, recurring transactions for dollar-cost averaging | custodial wallet | Free | Yes | Learn More |
| CoinBase | Easy to use interface and beginner-friendly | Software Wallet | Free | Yes | Learn More |
| Ledger Nano S | Ideal wallet for people with a small portfolio | Hardware wallet | $102 | Yes | Learn More |
| BitBuy | Low trading and deposit fees | Cold wallet | Free | Yes | Learn More |
1) Zengo
Best to buy Crypto directly from the wallet
Zengo crypto wallet is among the most secure crypto wallets. By leveraging MPC technology, Zengo removes the need for private keys. It is one of the best bitcoin wallets with a simple recovery process that allows users to access their Crypto and buy other cryptos directly from their Zengo wallet accounts.
There is an extensive library of top-notch content available at Zengo, including educational videos, articles, blog posts, and podcasts on the topic of cryptocurrencies.
#1 Top Pick
5.0
Transaction Fees: Zengo has no transaction fee.
Type of Wallet: Software Wallet
Staking: Zengo allows staking.
Fee for deposits: No Transaction Fee
Features:
- Friendly and intuitive user interface
- Comes with biometric encryption, i.e., fingerprint or face scan to set up your crypto wallet
- It offers a wide range of transaction and payment methods, such as credit cards, debit cards, Apple Pay, and bank wire
- Its security model offers 3-factor authentication.
- Zengo allows staking and allows you to earn interest on your cryptocurrency holdings.
- Available Countries: It is available in 188 countries across
- Support: 24/7 live chat, phone, and email support
Pros
- Beginner-friendly and highly secure Crypto wallet
- Provides educational content
- Offers passive income through staking and interest
Cons
- Some features are limited to certain countries
- It is available only on mobile phones via its app – does not have a desktop version.
Zengo-Pro:
Zengo also offers Zengo Pro, which unlocks a suite of premium industry-first security features and is available for as low as $5.8 a month. While Zengo Essentials remains the most secure self-custody crypto wallet and is completely free.
Among the premium security features are Theft Protection and Legacy Transfer.
Theft Protection: Enabled you to protect all transactions by being the sole authorizer using 3D Facelock. Legacy transfer: Industry game changer, inheritance-style features that allow you to effortlessly and securely transfer your assets to future generations.
2) Uphold
Best for discovering new, exclusive altcoins
With a user base exceeding 10 million spanning across 150 countries, Uphold provides a user-friendly platform for buying, trading, and holding a diverse range of assets, from crypto (over 250) to traditional currencies and precious metals. Uphold’s has a 100% reserve model that safeguards user funds and an openness to transparency, where real-time asset and liability data is publicly available and updated every 30 seconds.
#2
4.9
Transaction Fees: None
Type of Wallet: Custodial wallets
Staking: Yes
Fee for deposits: 1%
Features:
- Connected to 26 underlying exchanges to find you the best token prices
- Stake dozens of cryptocurrencies with high APYs
- Free debit card offering cashback in XRP
- Set up automatic, recurring transactions for dollar-cost averaging
- Create up to 50 simultaneous limit orders of any size without needing to fund your account upfront
- Send funds to any other Uphold account using just an email address
Pros
- Easy account setup, great for beginners
- Trade between multiple asset classes (crypto, fiat currencies, metals, stocks)
- Transparent balance sheet, never lends out your money
- Intuitive mobile and web app
Cons
- Basic charts and tools.
Key Specs:
Number of Cryptos: 250+ crypto including BTC, ETH, XRP, HBAR, XLM etc
Staking: Yes
Transaction Fees: None
Fee for deposits: $1
3) CoinBase
Best Beginner friendly crypto wallet
CoinBase is an easy-to-use web wallet that seamlessly integrates with your CoinBase account so you can buy and sell cryptocurrencies. This cryptocurrency wallet has a simple and easy-to-use interface and can be connected to most major banks in Canada. Moreover, it offers cloud backups to secure your digital keys, which allow users to recover them if it is lost.
#3
4.8
Transaction Fees: 0.5% to 4.5%,
Type of Wallet: Software Wallet
Staking: Yes
Fee for deposits: 2.49% fee to buy Crypto
Features:
- 2-factor authentication security
- It is a non-custodial bitcoin wallet that is available on both Android and iOS platforms.
- Biometric fingerprints and AES-256 encryption
- It provides crime insurance to protect your digital assets against cybersecurity breaches and theft
- Number of Cryptos: More than 100, i.e., Bitcoin, Ethereum, etc.
- Support: includes a 24/7 chatbot, email support, and a live, automated phone system.
Pros
- Easy to navigate crypto wallet for Canada
- Supports over 500 cryptocurrency assets
- It connects to many major Banks in Canada
- It offers a fast and easy-to-setup process
Cons
- Offers very limited trading tools
- High and complicated fee structure
Key Specs:
Available Countries: It is available in North America, South America, Europe, Asia, and Africa.
Transaction Fees: 0.5% to 4.5%,
Crypto Staking: Yes.
Fees to Trade: 0% to 0.50%
Fee for deposits: 2.49% fee to buy Crypto
4) Ledger Nano S
Best Budget-Friendly Hardware Wallet
Ledger Nano S is a hardware crypto wallet supporting over 1,500 cryptocurrencies, including Chain-link and Bitcoin Cash. It allows you to store about 20 digital assets on any device at a time. Ledger Nano S can be considered Ledger Nano X’s little brother due to its lesser storage capacity. It allows you to view your crypto balance and other information regarding your crypto wallet account
Features:
- Users can stake Crypto and other assets.
- Ledger Nano S keeps your private keys in cold storage
- Its well-rated mobile app is compatible with Android devices
- Through a USB cable, the Ledger Nano S hardware wallet can be connected to your laptop
- Available Countries: Ledger Nano X is available in almost all countries.
- Support: Offers support through the official website page and email.
Pros
- Great for beginners looking for a secure crypto wallet for their assets
- Ideal wallet for people with a small portfolio
- Low-cost, highly secure option
Cons
- Limited storage space for Crypto
- Ledger wallets don’t have a touch screen interface.
Key Specs:
Number of Cryptos: it supports over 107 cryptocurrencies, including BTC, ETH, and Many Tokens.
Transaction Fees: Transaction fees depend on the network and the number of transactions.
Fees to Trade: N/A
Fee for deposits: $5 to $25
5) BitBuy
Best choice to store assets with cold storage
BitBuy is one of the safest crypto wallets in Canada that offers you crypto exchange services cheaply and safely. It allows users to trade some of the most popular Cryptocurrencies. This Ontario Securities Commission-approved crypto wallet offers safe storage for an unlimited number of tokens as well as Altcoins.
Features:
- It offers a user-friendly Express Trade for easier deals
- Pro Trade Advanced Charts are available by TradingView
- It provides an OTC service (BitBuy Private Wealth service)
- BitBuy API automates your trading activities
- It offers a Pro Trade feature that professional traders can use.
- Supports Interac-Transfer and wire transfer payment services.
- Supported Platforms: Android and iOS
- Available Countries: It is available only in Canada
- Support: Offered via Online support page, Chat, and Mail
Pros
- It provides a quick verification process and high trading limits
- Express Trading option for beginners and BitBuy Pro Trading for professionals
- Supports many payments methods
- Low trading and deposit fees
Cons
- It Does not allow staking
- No live chat supports
Key Specs:
Number of Cryptos: Many popular cryptocurrencies are available, including Bitcoin, Solana, Ethereum, etc.
Transaction Fees: There is a flat 0.5% fee on all transactions.
Fees to Trade: 0.10% to 0.20%
Fee to Deposits and Withdrawals: 0.50%
6) Ellipal
Best to save Crypto from malware attacks
Ellipal crypto wallet is a hardware wallet without any wired connections and keeps your private keys offline. It is isolated from the network, which makes it a highly secure crypto wallet. It is one of the world’s first air-gapped, metal-steeled, and tamper-proof crypto wallets, and it uses QR codes to transmit data.
The Ellipal mobile app has a decentralized exchange for exchangeable coins. Moreover, it allows to manage multiple crypto wallet accounts and view real-time market prices.
Features:
- It offers a complete network isolation cold storage with no ports.
- Ellipal stores your private keys such that they do not reach the internet.
- Auto self-destruct features help you to restore factory settings when tampered.
- It offers a standby time of 259 hours
- It provides ideal battery support of 1400 mAh.
- ELLIPAL Titan is FIDO certified hardware wallet.
- It offers a deletion feature to automatically delete all the data if any security breach is sensed.
- Its app is supported on iOS and Android mobile devices.
Pros
- It is very safe as it protects from malware attacks and hackers
- It is one of the best hardware wallets that provide complete protection against remote and online attacks
- Keep crypto 100% offline and protected from online attacks
Cons
- Mobile Apps could be better
Key Specs:
Available Countries: Ellipal is available in over 70 countries.
Number of Cryptos: ELLIPAL supports 41 Blockchains and 10,000+ Tokens including Bitcoin, Ethereum, and all ERC20 tokens.
Support: customer support page and email support.
Staking: Ellipal allows staking.
Transaction Fees: There is no transaction fee.
Fee for deposits: No Transaction Fee
7) Ledger Nano X
Best for safely storing a large number of coins
Ledger Nano X is one of Canada’s best cold storage crypto wallets. It is one of the best hardware wallets that allows you to exchange, sell and buy cryptocurrencies. It is highly secure for crypto traders who store substantial amounts of coins in their crypto wallets. Ledger Nano X Comes with a well-rated mobile app that offers enhanced control over the device.
Features:
- Ledger’s Secure Element Chip protects your web account from different types of cyber attacks
- Comes with a complete history of transactions made by your web account.
- It offers connectivity via Bluetooth and USB-C cable
- It uses a Lithium-ion 100mAH battery that gives 8 hours of extended battery life.
- It has a vast knowledge-based page, live chat, and email chat.
- Available Countries: Available in all countries except Korea, Iran, Iraq, Egypt, Pakistan, Belarus, etc.
- Support: Official Support Page and Ticket.
Pros
- Highly secure crypto wallets due to the cold storage solution
- Encrypted Bluetooth connection
- Lesser transaction fee compared to other tools.
Cons
- Its battery is not replaceable
- The user interface is a bit confusing
Key Specs:
Number of Cryptos: over 100 cryptocurrencies, including Bitcoin, Ethereum, etc.
Transaction Fees: $12 transaction fee is charged per Canadian dollar withdrawal.
Fees to Trade: N/A
Fee for deposits: $5 to $25
8) Binance
Best for the users who trade Crypto Currencies regularly
Binance is a crypto wallet that offers you high-volume crypto exchange and multiple wallets simultaneously. It offers trading products to assist you in your crypto trades. Binance recently produced a mobile app that is connected to your web account.
It is one of the best bitcoin wallets that offers a seamless trading service along with one of the most secure crypto storage. It is also known for being beginner-friendly due to its relatively complicated interface.
Features:
- Requires all users to go through the 2-factor authentication process for extra security
- Cryptocurrencies are stored in cold storage
- Binance offers access to more than 600 different crypto assets
- Available Countries: US, Iran, Yemen, Zimbabwe, Venezuela, Albania, and North Korea.
- Support Includes a chatbot, submitting a ticket, and reaching out on Twitter.
Pros
- Provides a Military Grade Security and Safety
- Supports transactions with Credit and Debit cards
- It comes with Relatively low transaction fees
Cons
- Not suitable for beginners as its user interface is complicated
- Do have regulatory issues with several countries
Key Specs:
Number of Cryptos: Offers Over 80 cryptocurrencies, including Ethereum, Cardano, Bitcoin, etc.
Staking: Binance allows staking.
Transaction Fees: 0.1% – 0.5%
Fees to Trade: 0.1%
Fee for deposits: 0.5%
9) Crypto.com
Best for Top-Notch Security and encryption
Crypto.com is a crypto wallet best known for its top-grade security. It offers complete control over your private keys and digital assets, ensuring maximum security. Moreover, it allows fiat currencies, such as U.S Dollar (USD), Canadian Dollar (CAD), Brazilian Real (BRL), and many others. It offers the lowest fees when you purchase with a credit/debit card or bank transfer
Features:
- It offers mobile apps for both iOS and Android
- Comes with several layers of security, including 2-factor authentication and biometric authentication
- Utilizes Secure Enclave technology
- It allows you to swap Crypto on a 1-on-1 basis and access a wide range of tools to earn passive income
Pros
- It allows the creation of multiple digital wallets
- Accepts debit and credit card transactions
- Offers lending services and interest on digital assets
Cons
- High transaction fees unless you have CRO staking
Key Specs:
Available Countries: Crypto.com is available in almost all European countries.
Number of Cryptos: Offers over 250 Crypto Assets, including BTC, LTH, ETH, DOT, etc.
Support: email and live chat
Transaction Fees: 0.4% fee
Fees to Trade: 0.04% to 0.4%
Fee for deposits: 0.4% to 2.99%
10) CoinSmart
Best for Easy Debit and Credit Card deposits
CoinSmart, supporting more than 16 coins, is one of the best crypto wallets in Canada. It charges very low on crypto trades, making it highly secure to invest in.
CoinSmart has a user-friendly interface, fast verification, and bank-grade security. It also provides advanced crypto wallet options for experienced traders. It is one of the best crypto wallets from Canada that offers an instant and easy account verification process, which is helpful for new users.
Features:
- CoinSmart has an excellent mobile app that offers additional features such as SmartTrade, making Crypto trading simple.
- Its mobile app has a fingerprint login system and 2-factor authentication
- CoinSmart has a 95% cold storage facility, providing bank-grade security.
- It offers various transaction methods, including e-transfer deposits, credit/debit card deposits, bank wire withdrawals, and much more.
- Available Countries: Available in 100+ countries
- Support: 24/7 customer support through live phone, chatbot, and email.
Pros
- Secures your data with military-grade encryption and provides top-of-the-line security.
- Provides advanced trading options for experienced traders.
- Offers various transactions methods
Cons
- Crypto withdrawal has high fees
- Supports limited crypto assets
Key Specs:
Number of Cryptos: It supports the most popular cryptocurrencies such as Bitcoin, Ethereum, Solana, etc.
Transaction Fees: 0.2% – 0.030 trades.
Staking: They allow staking.
Fees to Trade: 0.20% to 0.40%
Fee for deposits: 1.5% to 6 %
Link: https://www.coinsmart.com/
11) Exodus
Best For an in-app crypto exchange
Exodus is one of the best software wallets that has a user-friendly interface. This crypto wallet App for Canada offers an in-built exchange where you can trade, buy, and sell your cryptos.
You can store private keys and never share them with Exodus’ servers. It generates a portfolio page that shows all relevant information regarding crypto coins in the possession.
Features:
- It encrypts your passwords and private keys
- It offers Support for staking
- Exodus supports Trezor Model T and Trezor One hardware wallet where you can store your cryptocurrency safely.
- Exodus’ desktop app is compatible with Mac, Linux, and Windows.
- It also offers a mobile phone app compatible with Android and iOS.
- Available Countries: Exodus is available in most countries of North America, South America, Asia, Europe, and Africa.
- Support: email and chat Support
Pros
- Seamless integration with Shapeshift
- Supports cold wallet storage
- Allows transactions through major debit and credit cards
Cons
- Does not offer any account security support
- Lacks crypto-to-fiat transactions
Key Specs:
Number of Cryptos: Exodus supports 150+ crypto assets, including BNB, Solana, Ethereum, and Bitcoin.
Transaction Fees: No Fee.
Fees to Trade: 0.10% to 0.20%
Fee for deposits: No Transaction Fee
Link: https://www.exodus.com/
FAQs
Here are the best Crypto Wallet for Canada:
Here are key factors to consider while buying cryptocurrency in Canada.
- You should buy Crypto according to the market trend and expert suggestions.
- This area’s lack of proper laws and policies has resulted in scams, frauds, and market manipulations. So, you should avoid buying a crypto coin from an unknown website and instead purchase only from the best crypto exchanges
- It is important that you should identify the legitimate Wallets. For this, you need to learn as much as you can about cryptocurrencies.
- Cryptocurrency may be easy to buy but also easy to lose money. So, you should use a secure method for your crypto transactions.
Best Crypto Wallet Canada
| Wallets | Main Features | Hardware or Software? | Pricing | Canada Friendly? | Link |
|---|---|---|---|---|---|
| Zengo | Best to buy Crypto directly from the wallet | Software Wallet | Free | Yes | Learn More |
| Uphold | Set up automatic, recurring transactions for dollar-cost averaging | custodial wallet | Free | Yes | Learn More |
| CoinBase | Easy to use interface and beginner-friendly | Software Wallet | Free | Yes | Learn More |
| Ledger Nano S | Ideal wallet for people with a small portfolio | Hardware wallet | $102 | Yes | Learn More |
| BitBuy | Low trading and deposit fees | Cold wallet | Free | Yes | Learn More |
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As an enthusiast with a deep understanding of cryptocurrency and wallets, I've delved into the details of the provided article about the best crypto wallets in Canada. My expertise extends to various aspects of crypto, including wallet technologies, security features, and market trends.
Let's break down the key concepts and information presented in the article:
-
Zengo:
- Type: Software Wallet
- Features: Biometric encryption, 3-factor authentication, staking, educational content.
- Pros: Beginner-friendly, highly secure, supports staking.
- Cons: Limited features in some countries, mobile-only.
-
Uphold:
- Type: Custodial Wallet
- Features: Connected to 26 exchanges, staking, automatic transactions.
- Pros: Easy setup, diverse asset classes, transparent balance sheet.
- Cons: Basic charts and tools.
-
CoinBase:
- Type: Software Wallet
- Features: 2-factor authentication, non-custodial, cloud backups.
- Pros: Easy to use, supports various cryptocurrencies, crime insurance.
- Cons: Limited trading tools, high and complicated fees.
-
Ledger Nano S:
- Type: Hardware Wallet
- Features: Supports 107 cryptocurrencies, staking, cold storage.
- Pros: Great for beginners, low-cost, highly secure.
- Cons: Limited storage space.
-
BitBuy:
- Type: Cold Wallet
- Features: Express Trade, Pro Trade, OTC service.
- Pros: Quick verification, supports multiple payment methods, low fees.
- Cons: No staking, no live chat support.
-
Ellipal:
- Type: Hardware Wallet
- Features: Network isolation cold storage, auto self-destruct, QR code transmission.
- Pros: Protection from malware attacks, secure offline storage.
- Cons: Mobile app could be improved.
-
Ledger Nano X:
- Type: Cold Storage Hardware Wallet
- Features: Secure Element Chip, Bluetooth and USB-C connectivity.
- Pros: Highly secure, encrypted Bluetooth connection.
- Cons: Non-replaceable battery, slightly confusing interface.
-
Binance:
- Type: Crypto Exchange and Wallet
- Features: 2-factor authentication, cold storage, access to 600+ crypto assets.
- Pros: High-security standards, supports credit/debit cards.
- Cons: Complicated user interface, regulatory issues in some countries.
-
Crypto.com:
- Type: Crypto Wallet
- Features: Mobile apps, 2-factor and biometric authentication, fiat currency support.
- Pros: Top-grade security, multiple digital wallets, lending services.
- Cons: High transaction fees without CRO staking.
-
CoinSmart:
- Type: Crypto Wallet
- Features: SmartTrade, 95% cold storage, various transaction methods.
- Pros: User-friendly, bank-grade security, advanced trading options.
- Cons: High fees for crypto withdrawals, supports limited assets.
-
Exodus:
- Type: Software Wallet
- Features: In-app exchange, encryption, support for staking.
- Pros: Seamless integration with Shapeshift, supports cold wallet storage.
- Cons: Lacks account security support, no crypto-to-fiat transactions.
The article also provides general advice on buying cryptocurrency in Canada, emphasizing market trends, the importance of proper laws and policies, identifying legitimate wallets, and using secure transaction methods.
If you have any specific questions or need further details on a particular aspect, feel free to ask.
