Kraken is a CSA-registered exchange with a real order book and about 490 tickers. Beaver Bitcoin sells Bitcoin at a flat 1.5% and sends it to your own address. The question is how much control and cost you want.
Kraken Vs Beaver Bitcoin: Which Is Better For Canadians?
For most Canadians, Kraken is the better choice (it wins on canadian status, my ranking).
9.2/10
CSA-registered (Restricted Dealer)
Beginners who want to learn, then cheaper trading on Kraken Pro
How Do Kraken And Beaver Bitcoin Compare, Fact By Fact?
Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.
Kraken Vs Beaver Bitcoin: Master Spec Table
Kraken
Beaver Bitcoin
Winner
Company
Payward Canada Inc. (Kraken), part of Payward, Inc. Founded 2011 by Jesse Powell and co-founders. Private, IPO filing reported. HQ reported moved to Cheyenne, Wyoming (2025). Staff not sourced.
Dam Good Money Corp., operating as Beaver Bitcoin. Idea in 2021, launched 2022; Aubrey is Founder and CEO (surname Not published). HQ city, funding, staff: Not published.
Depends
Regulation
CSA Restricted Dealer, OSC principal regulator (Decision 2025-04-01). FINTRAC MSB M19343731, expires 2028-08-25. Not a CIRO member. Client assets not covered by CIPF.
FINTRAC MSB N300000998, registered 2026-07-13, expiry 2028-11-30 (older M21577275 expired 2025-11-11). Not on the CSA list, no CIRO, no AMF. No CIPF.
Kraken
Assets
About 490 tickers for Canadians after Kraken's restriction list (derived estimate, not official). Order book on Kraken Pro. USDT, DAI, PYUSD, USDS, RLUSD, EURC, PAXG and 100+ more barred.
Bitcoin only. No order book; fixed price quotes.
Kraken
Price
Pro spot 0.40% maker / 0.80% taker at the base tier, falling with volume or balances. Instant Buy 1% fee (1.5% custom orders) plus a spread. Kraken+ waives the fee up to USD 10,000 a month.
1.5% fee on buys; Beaver pays the BTC network fee. Quoted price CA$121,106 vs CA$122,923 shown on the same page, 2026-10-03. Sell fee Not published.
Kraken
CAD In
Free: Interac e-Transfer (min CAD 5, max CAD 10,000) and domestic wire (min CAD 100). Debit card 0.25 CAD + 3.75%, SWIFT CAD 3, bill pay 0.25% (max CAD 30).
Interac e-Transfer, bill payment, wire and pre-authorized debit. Fees to client Not published (1.5% buy fee covers it).
Beaver Bitcoin
CAD Out
Interac e-Transfer withdrawal costs CAD 10 (max CAD 10,000 per transaction). Other CAD withdrawal methods and fees were not retrievable.
Sell BTC to Beaver and receive CAD; method, fee and speed Not verified.
Depends
Crypto In And Out
On-chain, Lightning (0 + 0.1%, min 0.00001 BTC), and many networks per asset. Bitcoin network fee 0.000015 BTC with a 0.000218 BTC minimum. Kraken sets the fee per coin.
On-chain Bitcoin delivery to your own address, network fee paid by Beaver. Lightning, Liquid: Not verified.
Kraken
Custody
Custodial. Proof of Reserves by an independent accountant, snapshot 2026-06-30: BTC 102.9%, ETH 100.5%, SOL 100.6%, XRP 102.3%, ADA 100.3%. Not CIPF protected. Insurance figure not published.
Non-custodial: bitcoin is delivered to your wallet, Beaver holds none. Funds in transit only.
Beaver Bitcoin
Verification (KYC)
Name, DOB, phone, address, occupation, valid ID, plus proof of address or face photo where required. SSN or Tax ID is for US clients only. Investor questionnaire required. Clearing time not published.
Photo of valid government ID, address, job title and a selfie. SIN not stated; clearing time Not published.
Depends
Account Types
Personal account. Kraken has business, trust and IRA account types globally; Canadian availability of business accounts not verified. No TFSA or RRSP. Joint accounts are not offered.
Individuals and businesses both buy (Beaver says all kinds of people use it); a corporate account type Not verified.
Depends
Provinces
All provinces and territories, registered with the OSC and every provincial regulator. Net purchase caps outside AB, BC, MB, QC, SK. French UI not verified.
Provinces served and French support Not published.
Depends
Extra Products
Staking (not GRT, FLR, Opt-In Rewards or Babylon), recurring buys, Kraken+ subscription. No margin, derivatives, xStocks or USDG for Canadians.
Recurring Buy by pre-authorized debit, Beaver Plaid personal service above CAD 100,000, Sell Bitcoin.
Kraken
Tax Tools
Ledger and trade history CSV export, plus a Koinly link (25% discount for all clients, Kraken+ gets a free report up to 800 transactions). Koinly can output the CRA Schedule 3.
Not verified.
Depends
App
iOS 4.62 (5,662 ratings, Canada store), Google Play 4.2 (about 55.1K reviews, global). Web app and Kraken Pro yes. 2FA yes. French UI not verified.
No iOS or Android app; mobile-friendly website. 2FA, alerts and French UI Not verified.
Depends
Support
24/7 messaging and email forms, with voice support in the app for select situations. Phone is not a general channel. French support not verified.
Help centre with request form, email hello@beaverbitcoin.com, personal support. Phone and French Not verified.
What Are The Key Differences Between Kraken And Beaver Bitcoin?
Kraken Vs Beaver Bitcoin: Side By Side
Kraken
Beaver Bitcoin
Description
Kraken is a Canada-friendly, US-based crypto exchange operating since 2011. In April 2025 it became a registered Restricted Dealer in Canada, valid in every province and territory. It has a strong reputation for security and offers a wide range of coins, with CAD trading pairs that spare Canadians foreign exchange fees.
Beaver Bitcoin is a Canadian, Bitcoin-only service built around self-custody. Every purchase is delivered straight to your own wallet and Beaver holds nothing for you, so you need a Bitcoin wallet before you can buy. It offers automatic recurring buys by pre-authorized debit.
Coins
About 490 tickers after Kraken's own Canada restrictions list is removed (derived from its public API, not an official count). USDT, DAI, PYUSD, USDS, RLUSD, EURC and PAXG are among the assets Canadians cannot hold or trade. CAD pairs on the majors.
Bitcoin only.
Fees
Free Interac e-Transfer deposits, CAD 10 to withdraw by e-Transfer | Instant Buy: 1% trading fee on instant and recurring trades (1.5% on custom orders) plus a spread, the pricier way to buy | Kraken Pro: maker/taker 0.40% / 0.80% at the base tier, falling with 30-day volume or assets on platform, among the cheapest ways for Canadians to trade | Kraken+ waives the fee on Buy/Sell/Convert up to USD 10,000 a month, but spread still applies | Debit card deposits cost 0.25 CAD + 3.75%
One flat 1.5% fee on buys, shown in the price. Beaver pays the Bitcoin network fee on every delivery. In Oleg's test a CAD 100 buy delivered CAD 98.50 of BTC. No spread beyond the stated fee is claimed.
Pros
Registered Restricted Dealer across all of Canada since April 2025
Free Interac e-Transfer deposits
CAD trading pairs, no FX fees on majors
Wide range of coins
Good for beginners via Instant Buy, with pro-grade tools on Kraken Pro
Staking available (ETH can be staked, with some exclusions)
Published proof of reserves with a third-party accountant
Never hacked in over a decade of operation
Non-custodial, every buy goes to your own wallet
One flat 1.5% fee, network fee covered by Beaver
Hands-off recurring buys by pre-authorized debit
Simple interface, sign-up in a couple of minutes
Sell function too: send BTC and receive CAD
Personal support and a dedicated service above CAD 100,000
Cons
Instant Buy fees are high, so use Kraken Pro for anything beyond small purchases
Client assets are not covered by the Canadian Investor Protection Fund, a condition every user must acknowledge
No margin, no derivatives and no xStocks for Canadians
Many altcoins and every USD stablecoin are restricted for Canadians
CAD 10 Interac withdrawal fee
Customer support can be slow at peak times
Bitcoin only, so altcoin buyers need to look elsewhere
Shorter track record than Bull Bitcoin or Bitcoin Well (launched 2022)
No mobile app yet, only a mobile-friendly website
Full KYC for everyone, no anonymous purchase
You must set up your own wallet first
Not on the CSA list: FINTRAC MSB only, no securities-law protections
No crypto insurance, since Beaver holds no customer assets
Security
Cold storage and hot wallet infrastructure in secure cages with 24/7 surveillance, 2FA, and a Proof of Reserves review by an independent accountant (snapshot 2026-06-30, BTC reserve ratio 102.9%, ETH 100.5%). Kraken client assets are not covered by CIPF.
Beaver does not hold your bitcoin: it goes to your wallet address, so there is no pool of customer funds at Beaver to hack or freeze. KYC needs a government ID photo, address, job title and a selfie. Beaver is a FINTRAC MSB; it is not a CSA-registered dealer.
Methods To Buy
Interac e-Transfer (free) | Domestic wire | Debit card | SWIFT | Bill pay (Apaylo) | Crypto deposits
Interac e-Transfer (Instant Buy), bill payment and wire (Large Buy), pre-authorized debit (Recurring Buy).
App
iOS 4.62 on the Canadian App Store (5,662 ratings), Google Play 4.2 (about 55.1K reviews, global). Web app and Kraken Pro available.
No mobile app; the website is fully mobile-friendly.
Account Limits
Net purchase limits apply to everything except BTC, ETH, LTC and BCH: CAD 30,000 per rolling 12 months for most clients, CAD 100,000 for an Eligible Investor, none for Permitted Clients or Accredited Investors. The limits do not apply in AB, BC, MB, QC and SK. Interac e-Transfer: CAD 10,000 per transaction, 30,000 weekly, 100,000 monthly.
Instant Buy by e-Transfer up to CAD 20,000. Large Buy by bill payment or wire up to CAD 100,000. Above CAD 100,000, Beaver Plaid personal service. Recurring Buy weekly, bi-weekly or monthly.
How Do You Fund And Cash Out Kraken And Beaver Bitcoin In Canada?
Kraken: CAD Deposits
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
Free
CAD 5
CAD 10,000 per transaction and daily, CAD 30,000 weekly, CAD 100,000 monthly
instant or 0 to 1 business days
Domestic wire (Credit Union Atlantic)
Free (an intermediary bank fee of 13.74 is noted)
CAD 100
Not published
1 to 5 business days
Debit card
0.25 CAD + 3.75%
CAD 10
Not published
near-instant
SWIFT (Bank Frick)
CAD 3
CAD 4
Not published
1 to 5 business days
Bill pay (Apaylo)
0.25% per transaction, max CAD 30
CAD 1
Not published
1 to 5 business days
Canada Post in-person cash and debit
Not published
Not published
Not published
Not published
Kraken: CAD Withdrawals
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
CAD 10
Not published
CAD 10,000 per transaction and daily, CAD 30,000 weekly, CAD 100,000 monthly
up to 1 business day
Domestic EFT
Not verified
Not published
Not published
Not published
Beaver Bitcoin: CAD Deposits
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer (Instant Buy)
Included in the 1.5% fee; no separate fee published
Not published
CAD 20,000
BTC in your wallet in minutes
Bill payment or wire (Large Buy)
Included in the 1.5% fee; bank may charge
Not published
CAD 100,000
Wire in the morning, bitcoin by evening
Pre-authorized debit (Recurring Buy)
Included in the 1.5% fee
Not published
Not published
Weekly, bi-weekly or monthly schedule
Beaver Bitcoin: CAD Withdrawals
Method
Fee
Minimum
Maximum
Speed
Sell Bitcoin (send BTC, receive CAD)
Not published
Not published
Not published
Not published
Neither accepts: paypal.
Fund by Interac for free, trade on Kraken Pro, and expect to pay CAD 10 to take Canadian dollars back out by e-Transfer. Wire deposits can lose a 13.74 intermediary fee. Kraken has been reported to delay new account checks at busy times. Your bank's own Interac and wire limits also apply. Spending limits per account were not published beyond the tier caps.
What Does It Actually Cost To Buy On Kraken And Beaver Bitcoin?
Worked Cost, Buy Only And Buy Plus Sell (Round Trip)
Amount
Kraken Buy
Kraken Round Trip
Beaver Bitcoin Buy
Beaver Bitcoin Round Trip
CAD 100
$0.40 to $1.00
$0.80 to $2.00
$1.50
Not published
CAD 500
$2.00 to $5.00
$4.00 to $10.00
$7.50
Not published
CAD 1,000
$4.00 to $10.00
$8.00 to $20.00
$15.00
Not published
CAD 10,000
$40.00 to $100.00
$80.00 to $200.00
$150.00
Not published
Kraken: Kraken Pro base tier 0.40% maker / 0.80% taker (Tier 1, USD 0 volume), checked 2026-10-03. The high end is the 1% Instant Buy fee, which is charged on top of a spread Kraken does not publish. Custom orders are 1.5%. Beaver Bitcoin: Flat 1.5% on Bitcoin purchases, network fee paid by Beaver (beaverbitcoin.com, 2026-10-03). Sell fee Not published. Ranges reflect each platform’s published band, not a single quote. Bank and network fees are not included.
What Do Kraken And Beaver Bitcoin Offer Beyond Buying And Selling?
Kraken Only
Kraken Pro: Order book trading with maker/taker fees from 0.40% / 0.80%, down to 0.0% / 0.10% at USD 10M monthly volume. Tiers can also be reached by holding assets on the platform (USD 20K for Tier 3).
Staking: Flexible staking with an on-chain unbonding period carries a 20% commission. Canadians cannot stake GRT or FLR, use Opt-In Rewards, or use Babylon Bitcoin staking, and ETH2.S cannot be traded.
Kraken+: Subscription giving zero trading fees on up to USD 10,000 (or CAD equivalent) a month in Buy, Sell and Convert, with spreads and card fees still applying. The subscription price was not retrieved.
Recurring buys: Recurring trades are charged the 1% Instant Buy fee plus a spread.
Beaver Bitcoin Only
Instant, Large and Recurring Buy: Instant Buy by e-Transfer up to CAD 20,000, Large Buy by bill payment or wire up to CAD 100,000, Recurring Buy by pre-authorized debit.
Beaver Plaid: Personal service for purchases above CAD 100,000 by bill payment or wire.
Sell Bitcoin: Sell BTC for CAD; terms are in the help centre.
What Happens To Your Money If Kraken Or Beaver Bitcoin Fails?
Kraken: Kraken is a CSA Restricted Dealer, which brings regulator oversight, loss notifications and purchase caps, but its client assets are not covered by CIPF and Kraken says so. Kraken publishes third-party proof of reserves (June 2026 ratios 100.3% to 102.9% for the five largest assets), which shows assets were held at the snapshot but is not insurance, and no insurance amount is published. Residual risks are exchange hacks, an insolvency where you are an unsecured creditor, and restrictions that can force you to withdraw coins Kraken later removes for Canada.
Beaver Bitcoin: Beaver is a FINTRAC-registered money services business, which covers anti-money-laundering reporting, not investor protection: it is not on the CSA list and CIPF does not apply. Because it holds no customer bitcoin, a hack or failure of Beaver would mostly hit money in transit or a pending order, not your stored coins. The residual risks are a failed or delayed purchase, an unpublished sell process, and the shorter operating history since 2022. Its FINTRAC number changed in 2026 after the old registration expired.
How Are Kraken And Beaver Bitcoin Treated For Tax In Canada?
Kraken: Selling, converting one coin to another and staking rewards are taxable events. Kraken exports ledger and trade history as CSV and links to Koinly, which can produce a CRA Schedule 3 report; Kraken does not produce a CRA-ready report itself.
Beaver Bitcoin: Buying bitcoin with CAD is not a disposition. Selling for CAD, or spending bitcoin, is a disposition you report to the CRA. Beaver publishes no tax export that we could verify, so keep your own records.
Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.
Which Should You Choose, Kraken Or Beaver Bitcoin?
Choose Kraken If
You want the widest coin list available to Canadians and a real order book.
You will use Kraken Pro rather than Instant Buy to keep trading costs near 0.4% to 0.8%.
You value published proof of reserves over a CIRO dealer.
Choose Beaver Bitcoin If
You want bitcoin delivered straight to your own wallet with no account balance
You want a simple recurring buy by pre-authorized debit
You accept a flat 1.5% fee and a FINTRAC-only registration
Is Kraken Or Beaver Bitcoin Better For Canadians In 2026?
Kraken for flexibility, Beaver for a single clean Bitcoin purchase. Kraken is third in my ranking at 9.2 out of 10, a CSA Restricted Dealer with the OSC as principal regulator, open in every province and territory and carrying a wide coin list. Beaver Bitcoin has no score in my top ten. It is a FINTRAC-registered Canadian service, launched in 2022, Bitcoin only, and it never takes custody of your coins.
If you will ever want a second coin, a limit order or a place to sit while you wait, Kraken covers all of it. If you want Bitcoin in a hardware wallet with no exchange account to remember, Beaver is built for that.
Kraken Pro starts at 0.40% maker and 0.80% taker, so $4 or $8 on $1,000, and tiers fall with volume. Instant Buy is 1% plus a spread, $10 before the spread. Beaver charges a flat 1.5%, $15 on $1,000, and absorbs the network fee. Interac deposits on Kraken are free from $5 to $10,000.
On fees alone Kraken Pro is cheaper at every size. The wrinkles are on the Kraken side: moving bitcoin off the platform costs a network fee, and taking Canadian dollars out by Interac costs $10. Beaver's price is one figure, but it has not published a sell fee, so I cannot cost the exit.
Which Is Easier To Fund And Cash Out?
Kraken takes Interac deposits free from $5 to $10,000 per transaction and per day, with $30,000 weekly and $100,000 monthly caps. A domestic wire is free from $100, though an intermediary fee of 13.74 is noted, a debit card costs $0.25 plus 3.75% and bill pay costs 0.25% up to $30. Kraken has been reported to delay new-account checks at busy times. Beaver takes Interac up to $20,000, bill payment or wire up to $100,000, and pre-authorized debit, with no credit card, PayPal or cash route.
Which Is Safer For Canadians?
The risks differ in kind. Kraken is a custodial exchange, so you are trusting it with your coins while they sit there. Its client assets are not CIPF covered, it is not a CIRO member and no insurance amount is published. What it does publish is third-party proof of reserves: the June 30, 2026 snapshot showed 102.9% for BTC, 100.5% for ETH, 100.6% for SOL, 102.3% for XRP and 100.3% for ADA. That proves assets were held on that date. It is not insurance.
Beaver holds no customer bitcoin, so a failure would mostly hit a payment in flight. It is registered with FINTRAC only, not on the CSA list, and its registration number changed in 2026 after the old one expired. Its main weaknesses are an unpublished sell process and a short history.
Which Gets Your Bitcoin Into Your Own Wallet More Cheaply?
For a small, one-off self-custody purchase the delivery cost matters. Kraken's minimum withdrawal and network fee are a fixed bite, while Beaver folds delivery into its 1.5%. At larger sizes Kraken Pro's lower percentage outweighs that fixed bite quickly.
Who Should Choose Kraken And Who Should Choose Beaver Bitcoin?
Choose Kraken if you want a real order book, about 490 tickers, published proof of reserves and a Koinly link for taxes. Fund with Interac and trade on Pro.
Choose Beaver Bitcoin if you want only Bitcoin, delivered to your own wallet, with a recurring debit and no balance on an exchange. See my ranked list of exchanges for the alternatives.
: Kraken republishes its fee schedule, with Pro spot at 0.40% maker and 0.80% taker at the base tier.
: FINTRAC registers Beaver Bitcoin under N300000998, valid to November 30, 2028.
: Date of Kraken's latest independent proof-of-reserves snapshot.
: Kraken receives its CSA Restricted Dealer decision and announces free Interac deposits.
Frequently Asked Questions
What Does Kraken Charge To Withdraw Bitcoin?
Kraken lists a Bitcoin network fee of 0.000015 BTC with a 0.000218 BTC minimum, and Kraken sets the fee per coin. Lightning sends are 0 plus 0.1%, with a 0.00001 BTC minimum. Beaver pays the network fee itself when it delivers your bitcoin.
Is Kraken Instant Buy Cheaper Than Beaver Bitcoin?
Instant Buy charges 1% plus a spread Kraken does not publish, against Beaver's flat 1.5% with the network fee included. The headline favours Kraken by 0.5 percentage points, but the hidden spread means I cannot call the all-in winner without a live quote on both.
Can Beaver Bitcoin Set Up A Recurring Purchase?
Yes. Recurring Buy runs by pre-authorized debit on a weekly, bi-weekly or monthly schedule, with the 1.5% fee included. Kraken also offers recurring buys, but they are charged the 1% Instant Buy fee plus a spread.
Does Kraken Export Data For Canadian Taxes?
Kraken exports ledger and trade history as CSV and links to Koinly, which can produce a CRA Schedule 3 report. Kraken itself does not produce a CRA-ready report. Beaver Bitcoin publishes no tax export that I could verify, so keep your own records.
Do Kraken And Beaver Bitcoin Have Limit Orders?
Kraken: Yes, on Kraken Pro with maker fees from 0.40%. Beaver Bitcoin: No; fixed price buys only.
Which Coins Can You Buy On Kraken And Beaver Bitcoin?
Kraken: About 490 (derived) Beaver Bitcoin: Bitcoin only
Is The Spread The Fee On Kraken And Beaver Bitcoin?
Kraken: Yes, Instant Buy adds a spread on top of the 1% fee; Pro has no spread but charges maker/taker fees. Beaver Bitcoin: Beaver states a flat 1.5% fee and pays the network fee, so the fee is what you see.
Does CIPF Cover My Crypto On Kraken Or Beaver Bitcoin?
Kraken: CIPF never covers crypto, and Kraken makes users acknowledge that its client assets are not covered. Beaver Bitcoin: CIPF never covers crypto, and Beaver is not a CIPF member.
Are Kraken And Beaver Bitcoin Available In Every Province?
Kraken: All provinces and territories, with CAD 30,000 net caps outside AB, BC, MB, QC and SK on assets other than BTC, ETH, LTC and BCH. Beaver Bitcoin: Not published.
Do Interac Deposits Work On Weekends On Kraken And Beaver Bitcoin?
Kraken: Kraken says e-Transfer takes 0 to 1 business days or arrives instantly; no weekend rule is published. Beaver Bitcoin: Not verified; e-Transfer buys arrive in minutes, wires follow bank hours.
What Is The Minimum Buy On Kraken And Beaver Bitcoin?
Kraken: Interac deposits start at CAD 5; the minimum order size varies by pair and was not verified. Beaver Bitcoin: Not published.
Can A Business Use Kraken Or Beaver Bitcoin?
Kraken: Kraken offers business accounts globally; Canadian availability is not verified. Beaver Bitcoin: Beaver says individuals and businesses use it; a business account type is not verified.
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
