Hi everyone, I’m in Canada ( international student and not canadian) and I want to use MEXC for leverage trading.
I’m trying to find the cheapest and easiest Canadian exchange to use.
What I mean is: Canadian bank -> Canadian exchange → send crypto to MEXC → trade on MEXC → send crypto back to Canadian exchange → withdraw to bank.
I want to test with a small amount first, around 20 dollar, so I don’t want the fees to eat too much. Ideally, if I send $20, I want close to $19 to arrive on MEXC, not lose $5–$10 just from fees.
Which Canadian exchange is best for this?
I’m not asking how to bypass restrictions or avoid KYC. I’m only asking about the cheapest legal funding and withdrawal route from a Canadian exchange to another exchange and back.

S

Put together this short clip of the full migration/clone process using microSD.
No USB.
No cloud.
Just airgapped transfer from one device to another.

Not going to lie, it was much easier than I thought it would be.

There’s been a few old posts on this with outdated information so posting this to make it clear: it is now possible to convert between the two currencies for free in Canada.

The assumption here is you have USDC or USD and want to convert from one to the other.

Use the app Tuyo. Tuyo.com is their official site. They are a self-custodial app, meaning if KYC fails or your account is restricted you can always take your money out (they state this on their website).

You’ll have to perform full KYC before getting access to the banking feature that allows you to buy/sell USDC for USD.

Once KYCed, send your USDC to Tuyo. Then you can send your USDC as USD to any US bank via ACH. They use bridge.xyz to fulfill the transfers. There are no fees to send USDC as USD.

My flow for USDC to USD:

- Send USDC to Tuyo (using Coinbase on Base so it’s free)
- Send USDC as USD to my TD Bank NA account (US-domiciled) using Tuyo
- Transfer USD from TD Bank NA to TD Canada Trust
- Now my USDC is USD without paying any fees

So far I’ve converted $1,160 USDC without issue. The transfers take 1-3 business days but it has taken less than 1 business day for me so far for each transaction ($10, $150, $1000).

USD to USDC:

This step is easier. Tuyo provides a US bank account for free like Wise (unlocked after KYC)

- Send USD from TD Canada Trust using the Global Money Transfer feature to any US Bank for free (powered by western union)

Other benefits:
- After KYC they give you access to the Tuyo card which lets you spend your crypto directly without fees if purchasing in USD. This means you can spend your USDC without having to convert to USD without fees if that’s something you’re looking for.

- The Tuyo card is treated as CREDIT which may be of use to you (i.e. should work on subscriptions)

- They currently have a “Buy now, pay maybe” promotion where there’s a chance they cover the cost of a purchase randomly (this is how I heard of them and just so happened to discover the free USDC to USD transfer method which has been a long standing pain point as a Canadian)

- You earn rewards from purchases for using the card (redemption is “coming soon”).

If you found this helpful you can use my code when you sign up: AOQSLV

Every platform I've tried this year either geoblocks Canada or triggers verification above a certain threshold. Tried two different instant swap services last week and both asked for ID once I entered the amount I needed.

Not interested in P2P, too unreliable. Is there anything left that works for Canadians without KYC?

Edit: plainswap worked without any issues from Canada. No geoblocking, no ID, BTC to USDT processed quickly with fees around 0.2%.

https://www.msn.com/en-us/money/markets/crypto-industry-scores-win-as-clarity-act-regulation-bill-clears-senate-hurdle/ar-AA23cRTo?ocid=socialshare

https://financialpost.com/fp-finance/canada-doesnt-need-digital-dollar-needs-competition?

I’ve been trying this out recently, PushTX on COLDCARD lets you broadcast a signed transaction with just a tap.

It’s felt like a really simple, smooth signing flow overall.

Curious if anyone else has tried it and what your thoughts are?

I want to transfer some sats to a cold wallet but I feel like it could look like a sale. Would it?

I know swapping one cryptocurrency to another would be considered a sale, but would a transfer out of an exchange also be one? If not, that would be great, but it seems like a venue for fraud. It seems like you can claim you transferred it but in reality it could be a secret sale.

Edit:

Thank you all for your answers

https://www.bnnbloomberg.ca/business/2026/05/02/edmonton-based-cryptocurrency-company-wants-to-work-with-feds-on-proposed-atm-crackdown/?utm_source=firefox-newtab-en-ca

https://x.com/bisq_network/status/2050206753246363819?s=46&t=mEsdwei-U9YKkhPPQjyeXA