If you’re in Canada and want to buy crypto, three names come up again and again: NDAX, Shakepay and Wealthsimple Crypto. They overlap a lot, but each one suits a different kind of buyer. Here’s how they line up.
| Feature | NDAX | Shakepay | Wealthsimple Crypto |
|---|---|---|---|
| Ease of Use | User-friendly, moderate learning curve | Extremely user-friendly, highly intuitive | Very user-friendly, beginner-focused |
| Supported Cryptocurrencies | Wide range, diverse options | Primarily Bitcoin and Ethereum | Moderate selection, focuses on popular coins |
| Fees | Tiered fee structure, competitive for active traders | Spread markup, free Bitcoin rewards with Visa Card | Spread markup, generally higher fees |
| Security | Robust security measures, cold storage, regular audits | Strong security focus, 2FA, biometric authentication | Strong security measures, cold storage, reputable platform |
| Account Minimums | Minimum deposit required | No minimum deposit | No minimum deposit |
| Funding Methods | Bank transfers, Interac e-Transfers | Bank transfers, debit/credit cards, Shakepay Visa Card | Bank transfers, debit/credit cards |
| Additional Features | Margin trading, staking, limit orders, advanced charting | Instant buy/sell, direct deposits, Shakepay Visa Card | Automated investing, fractional shares |
| Best For | Active traders, diverse portfolio, advanced features | Beginners, Bitcoin/Ethereum focus, everyday use | Beginners, simple investing, limited cryptocurrency selection |
What actually matters when you choose
How easy it is. Shakepay and Wealthsimple Crypto are the simplest. If you’ve never bought crypto, either one will feel familiar within minutes. NDAX is still friendly for basic buys, but its advanced features take a little learning.
Which coins you can buy. NDAX has by far the widest selection. Shakepay sticks mostly to Bitcoin and Ethereum, and Wealthsimple Crypto covers the popular coins without going much further.
What it costs. NDAX charges a visible trading fee that drops as you trade more, which is usually the cheapest option if you buy regularly. Shakepay and Wealthsimple build their cost into the spread instead, and Wealthsimple’s tends to be the highest of the three. Shakepay’s Visa card, which pays you Bitcoin back on purchases, can claw some of that back.
Extra tools. NDAX is the only one with margin trading, staking and advanced order types. The other two are deliberately simple.
My take
If you want more than Bitcoin and Ethereum, or you’ll trade often enough for fees to add up, go with NDAX. If you just want to buy a little BTC or ETH as easily as possible, Shakepay or Wealthsimple will do the job.
If you pick NDAX, you can sign up with my referral link and we’ll both get $10. It supports BTC, ETH, LTC, LINK, XRP, EOS, DOGE, ADA and XLM, among others.
This is for education only, not financial advice. Fees, coin lists and features change, so check each platform’s website for the latest details before you sign up.