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The Best Crypto Wallets in Canada 2025

Written by Stephen Hoenig
Reviewed by Emily Gardner
While Crypto isn’t something that everyone in Canada owns, it is becoming a much more common investment. This has a lot to do with the fact that online currencies are becoming much more valuable than they used to be. Because of this, owners need to find a place to keep their crypto, and the best place to do this is a crypto wallet.
Table of Contents
  • 1. Popular Crypto Wallets
  • 2. Crypto Cold Wallets
  • 3. Best Free Crypto Wallet in Canada
  • 4. Best Crypto Wallet for Beginners
  • 5. Best Bitcoin Wallet
  • 6. Best Free Bitcoin Wallet
  • 7. Opening A Crypto Wallet
  • 8. Best Crypto Wallet App
  • 9. Safest Crypto Wallet
  • 10. Best Platform for Crypto Trading
  • 11. Cashing Out Crypto in Canada 
  • 12. Final Thoughts

Crypto wallets are used to store your private crypto keys and make your funds accessible to you. Without your private keys, you’re unable to access your funds. Crypto wallets are designed to keep these safe and unable to be accessed by anyone but you. Similar to a bank account. 

In Canada, there are many different crypto wallets available. Which wallet you choose will depend on various factors, including the type of currency you invest in, how often you wish to use it, and your personal preferences regarding a crypto wallet software. With so many to choose from, it shouldn’t be too difficult to find the right wallet for you. 

Zengo

Zengo is an MPC wallet that supports over 380 different assets and is known for making assets virtually unhackable. It also offers a variety of features including the ability to buy, sell and swap. You can also story and view NFTs, DeFi and Dapps. 

Zengo is relatively new and uses different robust security measures. With this wallet, your assets are considered to be bulletproof against hacks and scams. This is due to their use of MPC and having no seed phrase vulnerability. When it comes to accessing your own assets, they use 3FA. This means that you can always gain access through email, 3D Facelock, and the Zengo recovery file. 

Above the main version of Zengo, there's also the pro version. This pro version includes a few extra features, including the ability to have 5 separate wallets. They also offer something called the legacy transfer, which includes the ability to transfer funds to friends and family. 

With pro, another option is to set up theft protection with multi-factor authentication. This also includes 3D FaceLock biometric verification. You’re even protected against Web3 attacks and have access to 24/7 customer support. 

Gaurda

Gaurda is another type of cryptocurrency wallet that allows you to store different types of assets. That said, it’s not just a crypto wallet, it’s also a crypto exchange. It can be used on the website or with the app. 

Besides being a wallet and a crypto exchange, Guarda allows you to earn with staking. You can also get crypto loans using this particular service. 

Exodus

Exodus is a crypto wallet that allows you to swap crypto across networks, supports millions of assets and stake and earn rewards. With Exodus it’s also simple to diversify your assets with access to over 50 different blockchain networks. You can even import unlimited tokens on 15 web3 networks. 

Like many other crypto wallets and exchanges, you can gain access to Web3 in order to gain control over your assets. This gives you access through different networks including Ethereum, Solana, and Arbitrum. Plus, with the simplicity of this wallet, you have access to your holdings whenever you want. 

Trust Wallet

Trust Wallet is another type of crypto wallet that uses Web3. With this wallet you can gain access using a browser extension or through their app. No matter which one you use though, you gain access to the same features which include:

  • Access to millions of assets
  • Top of the line security
  • The ability to deposit from other exchanges

This wallet also has an abundance of other features that makes it desirable to those looking for a wallet. Besides being Web3, it’s also independently audited, ISO certified and trusted by over 140M different crypto purchasers. This wallet also happens to have some of the best reviews. 

Coinbase

Coinbase Wallet is one of the more well known crypto wallets and has been around for a while. Not only can you purchase and exchange crypto using this platform you can also store and manage all of your NFTs and crypto. You can even choose to manage more than your wallet. 

Coinbase prides itself on guarding your crypto with some of the best industry-leading security. You also have the ability to explore thousands of tokens and Dapps on your phone or your browser. They even offer support for all Eutheruem-compatible networks. 

One of the best things about this particular wallet is that it’s all in your hands. You have all of the control over your crypto, date and even your keys. Coinbase also gives you the ability to use DeFi liquidity pools when supplying or borrowing crypto, use decentralized exchanges to swap assets and help a major Web3 project with DAO. Plus, with their intuitive user interface, even beginners can turn into advanced traders. 

MetaMask

Another type of Web3 wallet is the MetaMask. You can use this wallet with either a browser extension or a mobile wallet and are provided with everything you need to keep your assets safe. You get a key vault, a secure login, token wallet, and that’s just the beginning. 

With access to the decentralized app, you can connect to blockchain based applications as well as other assets. You also control all of the access to your wallet. MetaMask will create passwords and keys on your device to make sure of this. Using your wallet address, you can easily send crypto to your wallet. 

Atomic Wallet

Many crypto users also like to use another wallet called atomic wallet. This wallet has some awesome features including the fact that it’s secured, decentralized and anonymous. Not only can you use this program as a wallet, you can also instantly swap with cashback, manage your portfolio, stake and earn, as well as purchase crypto. 

Aqua Wallet

This particular app, known as Aqua Wallet, is considered by many to be the super app for bitcoin. It’s key features is that it allows for banking for everyone, has an all in one bitcoin wallet, and has low fees. A bonus is that it’s also a self-custody wallet so you have more control of your assets. 

Beaver Bitcoin

Beaver Bitcoin is another wallet option for Canadian users. Not only can you hold bitcoin using beaver, you can also buy your bitcoin. You can instantly purchase up to $10,000 of bitcoin using interac e-transfer and you can purchase larger amounts using wire, bill payments or bank transfer. You can easily even automate your purchases. 

They even offer some other awesome features including customer support, low fees, simple user interface, security with a wallet address, and quick sign up. They even have educational tools and guides to help you on your bitcoin journey. 

Crypto Cold Wallets

While we have discussed the different online crypto wallets, did you know that there are also cold wallets out there you can use instead. These are storage devices that store your crypto offline. These devices don’t connect to the internet which can provide an added layer of security. In Canada there are many different cold wallets to choose from. 

Cold WalletPriceFeatures
Ledger Nano X$200 - $220-bluetooth
-private keys
-certified security chip
-BOLOS operating system
-2 buttons, 1 screen
-supports thousands of different crypto coins and tokens
Ledger Nano S Plus$110 - $120-most popular ledger wallet
-built in USB-C-battefy
-free-approve transactions on device
-top of the line security
-certification level CC EAL6+
Trezor Model T$175-$250-sleek and stylish
-on-device transaction confirmation
-app for coin management
-connect securely USB-C-touchscreen
-passphrase and PIN entry access
SafePal S1$50 - $100-first wallet invested by Binance Labs
-fully decentralized
-random number generator
-multiple security sensor layers
-EAL 5+ independent secure element
-anti-tampering self destruct mechanism
-100% air gapped signing mechanism
-size of credit card
-supports over 100 blockchains and their tokens
Trezor Model One$50 - $75-two button pad
-.96” monochromatic OLED screen
-coin management in app
-supports 100’s of coins and tokens
-on-device confirmation
-passphrase and PIN entry access
-wallet backup
-micro USB connection
Ledger Stax$550 - $700-multi-device connectivity
-revolutionary design
-top of the line security
-wireless charging
-bluetooth connectivity
-multiple embedded magnets
-live support
COLDCARD Mk4$200 - $250-supports bitcoin
-dual secure element
-verifiable source code
-true air-gap
-bright LCD screen
-numeric key pad
-NFC-USB-C powered
-unlimited memory
-PIN features
Blockstream Jade$100 - $125-stores bitcoin
-hardware security
-fully secured offline
-fully air-gapped with camera
-connect with QR code, bluetooth, or USB

As you can see, there are plenty of different cold storage options out there, and these are just the most recommended ones. While all of these offer some great components, the best overall seems to be the Ledger Nano S Plus. 

Not only is this cold storage wallet affordable, but it also is battery free and allows you to approve transactions directly on your device. If you carry your device on you, you’ll know if someone tries to access your crypto and be able to stop the transaction. If you’re looking for another popular brand besides Ledger, then the Trezor hardware wallets are also a great buy. 

Best Free Crypto Wallet in Canada

In Canada, most of the crypto wallets are free or they have little to no fees. If you’re looking for the best free crypto wallet in Canada, then a good choice would be Guarda. You can access this wallet using an app, desktop or even a browser extension. With Gaurda you can store over 300 digital currencies and even convert your crypto over to cold storage. That said, your crypto can only be moved over to cold storage using a Ledger wallet. Other types of hardware wallets aren’t compatible. 

Best Crypto Wallet for Beginners

With most of the crypto wallets that we’ve discussed, you can use a wide variety of different assets and use tools that are compatible for beginners. That said, some of these are more compatible with beginner crypto users than others. The main two that stand out are Coinbase and Trust Wallet. 

Coinbase is a great option for beginners because it is very simple to use with their intuitive interface. Once you sign up then you’re guided through the process and how to use the platform. Plus Coinbase also offers a learn and earn program. This program lets you earn crypto when you complete educational lessons. On top of that, it’s also one of the largest crypto wallets and exchanges in the world. 

Trust Wallet, on the other hand, is another great option for beginners. This is because it has a simple and easy to use design, advanced security features and allows for storage of a wide range of crypto assets. Just like Coinbase, Trust Wallet provides you with everything you need to invest and store in crypto in just one place. This is another reason that it’s so popular for those that are new to the crypto world. 

Best Bitcoin Wallet

While a good portion of crypto wallets are compatible with many different types of assets, there are some that just solely focus on bitcoin. In Canada, the best option for an online bitcoin wallet in Canada is Bitbuy. The particular mobile bitcoin wallet has been around since 2016 is considered to be one of Canada’s oldest and trusted platforms. Currently, this platform is trusted by just under 1 million Canadians and has had over $7 Billion in crypto traded on their platform. 

Another reason that Canadians are drawn to Bitbuy is that it offers different trading and investing tools for both new and experienced bitcoin traders. You can sign up and start making bitcoin purchases in minutes, but you also have access to advanced tools for traders with Bitcoin Trade Pro. Plus all of this can be done on your mobile device. 

Best Free Bitcoin Wallet

Most wallets accept when you buy bitcoin since it is the most common form of cryptocurrency around. Many aren’t aware that there are multiple types of cryptocurrency out there or just prefer to deal with bitcoin since it’s been around longer. Bitcoin also is considered to be the cryptocurrency with the largest trading volume. No matter the reason, though, there are plenty of bitcoin wallets available. Especially free ones. 

Besides Bitbuy, another great option is Blue Wallet. Unlike Bitbuy, this is a bitcoin only wallet and it holds a variety of features. Instead of just sending and receiving bitcoin, Blue Wallet allows you to use multisig vaults which is considered the best security available by allowing you to have multiple different keys. These are also known as multi-signature wallets.

With Blue Wallet, you also have the ability to connect to your cold storage and even manage it. The lightning wallets give you fast access to fast Bitcoin transactions as well. You also get transaction control and can cancel or bump transactions at any time.  For every notification that occurs on your account, you’ll be notified as well. Another feature that this wallet offers that others don’t is the ability to create multiple wallets, including fake ones. This allows you to hide your assets if you’re forced to disclose them for any reason. You can also create watch only wallets.

Opening A Crypto Wallet

In the investing world, crypto is still relatively new. Due to this, crypto wallets are still new to many people and they may not realize how simple it is to actually open one. However, before we do that it’s important to understand that there are 3 different types of crypto wallets. These include:

  • Hosted Wallets
  • Self-Custody Wallets
  • Hardware Wallets

Each of these 3 different types of wallets are set up a little differently. 

Hosted Wallet

Hosted wallets, also referred to as custodial wallets, are the most common type of wallet and the simplest kind of wallet to set up. How these work is when you set up a crypto exchange and start purchasing crypto, your crypto will then be automatically held in the hosted wallet. These are simple to access even if you forget your password. However, you do have less capabilities with these wallets. 

Setting up a hosted wallet is pretty simple. You start by choosing a reputable platform of your choice. Once you’ve done that, then you can create your account. You’ll need to provide some personal information as well as 2-step verification, some also refer to this as two-factor authentication. When you enable two-factor authentication, you can improve your security tremendously. 

Once your wallet is all set up, then it’s time to start using it. You can do so by purchasing some crypto with either a bank card or a credit card, you can even use bank transfers. Most wallets do also accept the transfer of any crypto that you might already own. This includes the ability to transfer bitcoin.

Self-Custody Wallet

Self-custody wallets are great for those who want control over their crypto. These types of wallets don’t rely on a third party so you, as the owner, have complete control over your own wallet. This means that you have to remember your own passwords and the hosts just provide the software needed to keep your assets safe. This is different from a hosted wallet because with those you can just reset your password. Self-custody wallets have an encryption or pass key only you will know. If you forget this, you no longer can access your crypto. 

If you’re looking to set up a self custody wallet, then the process is actually pretty simple. You start by downloading the app for the wallet. Once that has been done, you create your account. You don’t need any personal information to create this account.

Once your account has been created, you're going to get a random 12 word phrase. This phrase is now your encryption key and the only way that you can access your account. Once this is done, then you can start either purchasing crypto or transferring it into your wallet. 

Hardware Wallet

Hardware wallets, also referred to as cold wallets, are external crypto wallets that allow you to store your funds outside of the internet. These physical devices are small and can easily fit into your pocket. For those who own a lot of crypto, this can be an added layer of extra security that protects your crypto in the event that your computer is hacked. 

In order to set up a hardware wallet the first thing you have to do is purchase it. Once you have done that, then you install the software. This software will vary based on the hardware wallet that you purchase. This will give you step by step instructions on how to set up. 

Once your hardware is all set up, all that’s left to do is transfer the crypto to your wallet. Depending on the hardware wallet that you purchase, you may not be able to purchase the crypto you want using your preferred currency. 

Best Crypto Wallet App

If you’re looking for the best crypto wallet app then Coinbase is probably the way to go. While this app can be more expensive than others, it’s one of the top rated crypto wallet apps for a reason. Not only is it a self-custody crypto wallet, but it also provides a secure cryptocurrency exchange that offers a wide range of assets to choose from, including NFTs. Like many of the crypto wallets out right now, it also offers access to the decentralized web. 

Safest Crypto Wallet

When it comes to the safest crypto wallet you actually have plenty of options to choose from. All of the crypto wallets that we have mentioned have great safety ratings and are considered a great way to store your cryptocurrency safely. That said, Web3 seems to be the latest technology lately that’s being used to keep crypto safe. 

Best Platform for Crypto Trading

Now that we’ve considered the best ways in order to keep your crypto safe, it’s also important to consider the best crypto exchange platforms out there. These platforms are available to anyone and allow you access to purchase your crypto as well as store it. Many of these platforms also have crypto wallets that you can choose to store your crypto in as well. Some of the best crypto trading platforms in Canada include:

  • Bitbuy
  • Coinsmart
  • Coinbase
  • Kraken
  • Crypto.com
  • Newton
  • Virgo CX
  • NDAX

Before you decide which platform is the best for you, it’s important to do a little research. While they’re all good, some only provide trading for certain assets, and others only accept certain currencies as well. This can impact how you’re able to purchase and trade, so it’s important to know your options going in. 

Cashing Out Crypto in Canada 

When it comes to cashing out crypto, there’s more than one option on how to do so. The method that you use is also dependent on which type of currency you purchase and how much you plan to use. With that in mind, here are a few ways you can cash out your cryptocurrency. 

Sell On An Exchange

No matter which type of wallet you have for your crypto, you’re able to sell or trade it at any time. When you sell crypto or you sell bitcoin, you’ll then receive fiat currency (Canadian dollars) for the crypto and be able to put those funds into your Canadian bank account. This process is the same for most exchanges in Canada. Before you sell though, make sure you’re using a reputable exchange since there are a few exchanges out there that are better than others. 

Use A Broker

Another option that crypto investors choose to use when cashing out their crypto is to use a broker. This process is similar to using a crypto exchange, however the broker performs the transaction instead of you. All you need to do is the broker know how much you’d like to sell and how much you want for it. Once the transaction is completed, then the broker will transfer you the funds. Some fees will be involved with this method as well. 

Use A Bitcoin ATM

Another simple way to cash out your cryptocurrency is by using a bitcoin ATM. This type of ATM allows you to perform crypto transactions and take out cash. This type of transaction can cost as much as 10% though. 

The important thing to remember about a bitcoin ATM is that blockchain transactions can take the same amount of time no matter where you perform them. This means that the transaction could be completed instantly or it can take up to a few hours. If this is the case then the funds can be transferred directly to your account instead of being dispersed in cash.

Use A P2P Marketplace

Using a peer to peer marketplace is a common way for those who buy crypto to find others who are wanting to purchase some. Once the crypto is sold on the crypto market, then you can choose which method you prefer to receive the funds. However, P2P marketplaces can be a bit risky so it’s important to keep that in mind before you perform any transactions.

Final Thoughts

In Canada, purchasing crypto is becoming a much more common way for investors to diversify their investments. However, it’s still a relatively new form of investment so it can be a bit difficult to get started. This is where Canadian crypto exchanges and wallets come into play. They allow you to have more control over your crypto and gain access to your funds when you need them.

When it comes to crypto wallets in Canada there are actually plenty to choose from. These different options are available to anyone who chooses to use them. When it comes to software wallets, also referred to as hot wallets, you have the option to hold through an exchange or use a self-directed method. For those who don’t prefer to store their crypto online, there are cold wallets which store the crypto offline. No matter which you choose though, these methods are considered to be secure and protect your crypto for when you need it. 

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