Best Bybit Alternatives in Canada for 2025

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If you're a Canadian investor looking to buy, sell, or trade cryptocurrencies, you may have considered Bybit—one of the world’s largest and most feature-rich crypto exchanges. However, as of May 2023, Bybit is no longer available in Canada, having officially exited the market due to tightening regulatory requirements.

This means Canadian users can no longer sign up, deposit funds, or maintain open trading positions past September 30, 2023. But don’t worry—there are several strong Bybit alternatives in Canada that offer competitive features, robust security, and user-friendly platforms.

Below, we explore the top crypto exchanges that Canadian traders can use instead of Bybit, compare their key features, and help you choose the best platform based on your trading goals.

Why Bybit Left Canada

Bybit announced its withdrawal from Canada in May 2023, citing “recent regulatory developments” as the primary reason. This decision followed increased scrutiny from Canadian financial authorities.

Notably, in 2022, the Ontario Securities Commission (OSC) fined Bybit nearly $2.5 million for offering unregistered securities—a clear signal that foreign exchanges must comply with local regulations or exit the market.

👉 Discover secure and regulated crypto platforms available to Canadians today.

Bybit now lists Canada as a restricted jurisdiction, alongside the U.S., Singapore, and Hong Kong. While it operates in over 190 countries, Canadian users must seek compliant domestic or international alternatives.

Top Bybit Alternatives in Canada

Here are six leading crypto exchanges that serve Canadian investors, offering everything from beginner-friendly interfaces to advanced trading tools.

Kraken – Best for Experienced Traders

Kraken has been a trusted name in crypto since 2011, known for its strong security and advanced trading features.

Pros
✅ Long-standing reputation and high Finder Score
✅ Supports hundreds of cryptocurrencies
✅ Low trading fees for high-volume traders
✅ User-friendly interface for beginners and pros

Cons
❌ Mixed Trustpilot reviews
❌ Customer service complaints reported
❌ Slightly higher deposit fees on card payments

Kraken is ideal if you're looking for a balance between simplicity and advanced functionality. It’s also registered with Canadian regulators, ensuring compliance.

Coinbase – Best for Beginners

As one of the largest global exchanges by volume, Coinbase offers a seamless onboarding experience for new crypto users.

Pros
✅ Easy signup and intuitive design
✅ Free deposits via Interac e-Transfer
✅ Registered with CSA and OSC
✅ Learn-and-earn programs similar to Bybit’s model

Cons
❌ No margin, futures, or options trading in Canada
❌ Only CAD support (no USD accounts)
❌ Higher fees compared to pro platforms

Coinbase is perfect for beginners who want a simple, secure way to enter the crypto space without complex trading options.

👉 Start your crypto journey with a trusted global platform.

Paybis – Best for Global Access

Paybis serves over 180 countries and supports more than 80 cryptocurrencies with multiple fiat options.

Pros
✅ High Trustpilot ratings
✅ Beginner-friendly interface
✅ Global reach with diverse payment methods

Cons
❌ Limited coin sell options
❌ Relatively high transaction fees (up to 13.48% including processing)
❌ Fewer tools for advanced traders

While Paybis offers great accessibility, its fee structure makes it less ideal for frequent traders.

VirgoCX – Best Canadian-Based Exchange

Based in Toronto, VirgoCX is a homegrown platform tailored to Canadian users.

Pros
✅ Fully Canadian-regulated exchange
✅ Transparent fee model
✅ Simple platform for new traders

Cons
❌ Smaller selection of cryptocurrencies
❌ Spreads up to 1.6%
❌ No advanced trading features

VirgoCX is excellent for those who prefer a local, compliant exchange with responsive support.

Bitget – Best for Advanced Features

With over 870 supported cryptos, Bitget closely mirrors Bybit’s offering, including futures, copy trading, and staking.

Pros
✅ Huge range of tradable assets
✅ Competitive fees (maker: 0.02%–0.10%)
✅ Copy trading lets you mirror expert traders

Cons
❌ Mixed customer service reviews
❌ Not registered with Canadian regulators

Bitget is a solid choice if you’re an active trader seeking leverage and automation tools.

What Made Bybit Popular?

Before its exit, Bybit attracted users with:

While these features aren’t fully replicated on all Canadian platforms, Bitget and Kraken Pro come closest in terms of functionality.

Frequently Asked Questions (FAQ)

❓ Is Bybit legal in Canada?

No. Bybit is not legal or operational in Canada. It exited the market in May 2023 and is listed as a prohibited platform by Canadian regulators due to non-compliance with securities laws.

❓ Can I still use Bybit with a VPN?

Using a VPN to access Bybit from Canada violates its terms of service and could result in account suspension or fund loss. Additionally, it poses legal and security risks.

❓ Are there any crypto exchanges like Bybit in Canada?

Yes. Bitget, Kraken, and Coinbase Advanced Trade offer similar features such as futures trading, copy trading, staking, and mobile apps—though availability of leveraged products varies by platform.

❓ Which exchange has the lowest fees in Canada?

For high-volume traders, Kraken Pro and Bitget offer the lowest trading fees, with maker fees starting at 0.02%. Beginners may prefer Coinbase for flat-rate pricing and ease of use.

❓ Are Canadian crypto exchanges safe?

Most reputable platforms like Kraken and Coinbase are regulated by Canadian authorities (CSA, OSC) and employ industry-standard security measures like two-factor authentication (2FA), cold storage, and encryption.

❓ How do I choose the best crypto exchange?

Consider these factors:

Final Thoughts

Although Bybit is no longer accessible in Canada, several powerful alternatives provide secure, compliant, and feature-rich environments for buying and trading crypto. Whether you're a beginner or an experienced trader, there's a platform that fits your needs—from user-friendly options like Coinbase to advanced trading hubs like Bitget and Kraken.

The key is to prioritize regulation, security, and the specific tools you need to achieve your investment goals.

👉 Compare top-rated crypto platforms and find your ideal exchange today.

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