To buy, sell, trade, and store your crypto assets, you need a cryptocurrency wallet. The validation of transaction data and the protection of cryptocurrencies rely on them. Cryptocurrency holders can benefit from the increased protection and specialized features offered by a wide variety of hardware and software wallets.
It might be difficult to choose which cryptocurrency wallet is the best option in Canada. As a result, settling on just one is no easy feat. After looking into fifty different crypto wallets, I’ve narrowed it down to the top five best crypto wallet Canada.
Binance: The Premier Platform For Crypto Traders
Binance is a cryptocurrency exchange and wallet service that allows you to manage numerous wallets and trade cryptocurrencies in bulk. It provides a variety of trading items that might be useful in the cryptocurrency market. As of late, Binance has been offering a mobile app that syncs with your online profile.
It’s a top-tier bitcoin wallet that also happens to be one of the safest places to keep your cryptocurrency. Despite its complex user interface, it is recognised for being user-friendly for newcomers.
You can buy and sell Bitcoin, Ethereum, Doge, Binance’s BNB, and more than 350 other cryptocurrencies on the platform. Binance has a significant advantage over its Canadian competitors because of how simple it makes switching between different cryptocurrencies.
As an added bonus, Binance has competitive currency conversion rates.
Binance provides a variety of services beyond only cryptocurrency trading, including
Binance Earn is an interface for staking or earning interest on stable currencies deposited at the exchange.
The Binance Visa Card is a credit card that can be used to exchange cryptocurrency for fiat cash and make purchases. To buy, sell, and otherwise transact in NFTs is the business of NTF trading.
- Mandates for two-factor authentication for all users for added safety.
- Cold storage is used for cryptocurrency.
- More than 600 different cryptocurrencies may be traded on Binance.
- Available All of the above plus Iran, Yemen, Zimbabwe, Venezuela, Albania, and North Korea make up the list of countries.
- You may contact support through a chatbot, a support ticket, or Twitter.
Benefits of Using Binance
- Multiple hundreds of currencies on one thousand plus exchanges
- Discreetly low commissions of just 0.10 per cent every presentation slide
- Allows for the addition and subtraction of fiat currency
- When it comes to volume, it is safe to say that this is the largest cryptocurrency exchange.
Coinbase: The Most User-Friendly Cryptocurrency Exchange For Newcomers
If you have a CoinBase account, you may use their simple web wallet to purchase and sell cryptocurrencies with ease. This bitcoin wallet features an intuitive design, and it works with a wide variety of Canadian financial institutions. It also provides cloud backups for your digital keys, so you may retrieve them in the event of a loss.
The Coinbase wallet is just as intuitive to use as the main exchange platform, so no prior knowledge is required. Coinbase also provides two wallet choices, like the aforementioned Binance.
We recommend starting with the primary Coinbase online wallet, as it is the most straightforward choice. Logging into your Coinbase account is all that’s required to make a transaction. Because the online wallet syncs up with your Coinbase account, purchasing and selling cryptocurrency is as simple as clicking a button.
Since the Coinbase online wallet is a custodial alternative, neither private keys nor backup passphrases are required for security purposes. Every time you try to log in, you’ll have to go through a second layer of security checks if you’re using a different computer or IP address.
The Coinbase mobile app offers a non-custodial wallet as an alternative. You may keep complete custody of your private keys with this feature, which is accessible on both iOS and Android. Importantly, the app syncs with your primary wallet, so you can still purchase and trade cryptocurrencies.
- Safety with 2 Factor Authentication
- It’s a Bitcoin wallet that doesn’t hold your funds, and it works on both Android and iOS.
- Fingerprint authentication and 256-bit AES encryption
- It’s like having insurance against cybercrime and theft for all your digital possessions.
- Help is available in the form of a chatbot, emails, and an automated phone system that is available around the clock.
Benefits of Using Coinbase
- Wallet that stores cryptocurrency and is simple to use for Canadians
- Accepts more than 500 different digital currencies
- Several of Canada’s largest banks may be accessed through it.
Crypto.Com: The Best Crypto Wallets Canada 2023
In 2023, it will be the best crypto wallets in Canada. The reason for this is that over 250 different cryptocurrencies with varying market caps and underlying blockchain networks may be used on the platform.
To save all of your tokens in one safe place, you may use the Crypto.com wallet, which can be downloaded for free. As with BitBuy, Crypto.com provides a mobile app for iOS and Android users to access its wallet. In addition, you may link the wallet to your primary Crypto.com account.
Again, this implies that you may buy, sell, and trade cryptocurrency using the wallet app regardless of your physical location. The Crypto.com DeFi wallet is a custody storage solution, thus, your private keys will always be in your possession, guaranteeing the highest level of security. This does put the onus on you to maintain a secure wallet at all times (more on this below).
Sending and receiving digital tokens is simple with the Crypto.com wallet, as it is with all of the other services we examine here. You have complete control over the transfer speed and network costs when withdrawing funds from the wallet. Furthermore, we like that the Crypto.com wallet allows for the exchange of DeFi tokens without requiring the user to leave the app.
Benefits of Using Crypto.com
- More than two hundred and fifty different cryptocurrencies are supported.
- Popular, the reputable company providing cryptocurrency interest accounts and lending services
- One of the top Canadian staking sites for cryptocurrencies.
ZenGo: Best To Purchase Cryptocurrency Directly Into Your Wallet
The ZenGo cryptocurrency wallet is one of the safest options available. ZenGo bypasses the requirement for private keys by employing MPC technology. Users can easily recover their funds from their ZenGo wallets, making it one of the best bitcoin wallets.
ZenGo features a vast library of high-quality information on the topic of cryptocurrencies, such as instructional videos, essays, blog entries, and podcasts.
- An easy-to-navigate and user-friendly interface
- Included fingerprint or facial scan biometric authentication for creating cryptocurrency wallets.
- Your cryptocurrency wallet can be synced with either Google Drive or iCloud.
- It has a three-factor authentication system built into its security mechanism.
- Available Countries: It’s accessible in 188 different nations.
- Help is available by live chat, phone, and email around the clock.
- New users may make their first purchase risk-free for up to $200.
Benefits of Using ZenGo
- Simple-to-use and extremely safe cryptocurrency wallet
- Offers opportunities to earn money without doing any work (via staking or interest) in the form of instructional material
Ledger Nano X: Among the Best Cold Storage Options for Cryptocurrencies
The Ledger Nano X is an alternative to Trezor, and the two products are almost identical. Ledger Nano X, in a nutshell, is a cold hardware wallet that never connects to the internet, making it exceptionally secure for people holding substantial sums of cryptocurrency.
It’s incredibly safe, but time-consuming, to deliver crypto using Trezor since you need to input your PIN on the device itself. You may also have access to your Ledger Nano X wallet from another device if it is ever lost or stolen. The typical cost of using a Ledger Nano X is $200, however, there are cheaper ones available.
Ledger Nano X Includes
- The Secure Element Chip in the Ledger prevents hackers from accessing your online banking information.
- Includes a record of all the purchases you’ve made using your online account.
- It has Bluetooth and a USB-C connection for connecting to other devices.
- The lithium-ion 100 mAH battery that powers it lasts for a whopping 8 hours.
- You may get it anywhere in the world besides North Korea, Iran, Iraq, Egypt, Pakistan, Belarus, etc.
If you’re buying crypto and want to have the best crypto wallets in Canada, you must consider these wallets. When purchasing cryptocurrencies, you should follow the market trend and the advice of industry experts and purchase them via a crypto trading bot like bitcoin prime. The absence of effective regulation and legislation has made this region vulnerable to fraud, deception, and market manipulation.
As a result, it’s highly recommended that you only buy crypto coins from reputable crypto exchanges and never from a sketchy website.
It’s crucial that you learn to spot genuine wallets. You should become as knowledgeable as possible about cryptocurrency in order to do this. Although cryptocurrency is simple to acquire, it is just as simple to lose. Therefore, while dealing with cryptocurrency, you should choose a safe technique for doing so.