Where to Buy Bitcoin in Canada [Best Sites]
A list of ways to purchase bitcoin in Canada.
Bitbuy
Fast, secure Canadian exchange with high limits and BTC insurance. Founded in 2016. Fees are 0-2%, depending on the amount and method of payment.
Coinbase
Coinbase is available in Canada as of August 2023. Buy Bitcoin using Interac e-Transfer, bank accounts, debit cards, PayPal, Apple Pay, and wire transfers. Trusted globally with over 100 million users.
Kraken
Kraken works in Canada to buy Bitcoin using Interac e-Transfer or wire transfers. Kraken has tools for trading, and 24/7 support staff.
Uphold
Uphold operates in Canada and supports Interac e-Transfer for easy deposits and withdrawals in CAD.
MyBTC
Buy Bitcoin in Canada with Interac e-Transfer, bank transfers, and other convenient payment methods.
Table of Contents
Frequently Asked Questions
If I Bought Bitcoin
See how much you would have made if you bought Bitcoin in the past.
Transaction Fees
A look at the transaction fees for each exchange, both spread and commission.
- Spread fee: Exchanges may charge a higher price than the actual price of Bitcoin.
- Fee: Exchange fee for the transaction.
- Total fees: The sum of the spread fee and the fee.
| Exchange | Spread Fee | Fee | Total Fees |
|---|---|---|---|
| Kraken |
0.0% | 0.4% | 0.4% |
| Uphold |
1.5% | 0.0% | 1.5% |
| Bitbuy |
1.0% | 1.5% | 2.5% |
| Coinbase |
1.0% | 2.99% | 3.99% |
| MyBTC |
0.0% | 4.75% | 4.75% |
Actual fees may vary. Fees are subject to change. Fee estimates based on our research and testing. Some exchanges may charge less depending on volume.
Estimated Fees on $100 CAD
An estimate of the fees for buying $100 CAD worth of Bitcoin using a bank account.
| Exchange | Total Cost on $100 CAD |
|---|---|
| Kraken |
0.4 |
| Uphold |
1.5 |
| Bitbuy |
2.5 |
| Coinbase |
3.99 |
| MyBTC |
4.75 |
History of Bitcoin in Canada
Canada has played a significant role in Bitcoin's history. In 2013, the world's first Bitcoin ATM was installed in a Vancouver coffee shop. In 2014, QuadrigaCX became Canada's largest cryptocurrency exchange, though it later collapsed in 2019 following the death of its founder Gerald Cotten, resulting in the loss of approximately $190 million in customer funds.
In June 2014, Canada became the first country to pass national law on virtual currencies, requiring cryptocurrency exchanges to register with FINTRAC and implement compliance programs. The Ontario Securities Commission made history in 2021 by approving North America's first Bitcoin ETFs, with the Purpose Bitcoin ETF launching on the Toronto Stock Exchange.
Financial & Regulatory Licenses
| Exchange | Licenses & Regulation |
|---|---|
| Bitbuy |
Registered with the Ontario Securities Commission (OSC) and FINTRAC. |
| Coinbase |
Chartered by New York State Department of Financial Services for virtual currency. |
| Kraken |
Registered money services business with FinCEN (USA). |
| Uphold |
FinCEN (USA), FCA (UK), FINTRAC (Canada), FCIS (EU) |
Deposit Fees
These are fees exchanges may charge for deposits. Fees are subject to change.
| Exchange | Deposit Fees |
|---|---|
| Bitbuy |
Wire: Free Interac: Free |
| Coinbase |
ACH: Free Wire: $10 USD SEPA: €0.15 EUR SWIFT: Free |
| Kraken |
ACH: $0 Wire: $0 SEPA: $0 SWIFT: $3 |
| MyBTC |
Wire: 4.75% Interac: 7.75% BTC: 9.75% ($5 minimum) |
| Uphold |
ACH: Free Wire: $0 - $20 SEPA: Free FPS: Free |
Bitcoin Scams in Canada
The QuadrigaCX scandal of 2019 remains Canada's largest cryptocurrency disaster, where $190 million in customer funds were lost. In 2020, the Canadian Anti-Fraud Centre (CAFC) reported losses of $11 million from cryptocurrency scams, which increased dramatically to $75 million in 2021.
In 2022, Canadian authorities investigated multiple pump-and-dump schemes, including the case of Mining Capital Coin, which defrauded investors of $8.1 million. The Ontario Securities Commission also took action against major exchanges Binance and KuCoin in 2021 for operating without proper registration, resulting in KuCoin being permanently banned from Ontario.
Mobile App Support
| Exchange | iOS App | Android App |
|---|---|---|
| Bitbuy |
||
| Coinbase |
||
| Kraken |
||
| Uphold |
||
| MyBTC |
Exchange snapshots
Bitbuy
| Bitbuy snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.5
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
4.5
Official rating from the Android Play Store as of November 18, 2024.
|
| Deposit Methods | Interac e-Transfer, Bank Account, Credit Card, Debit Card |
Coinbase
| Coinbase snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.7
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
4.6
Official rating from the Android Play Store as of November 18, 2024.
|
| Deposit Methods | ACH, Wire Transfer, Debit Card, Bank Account, PayPal, Apple Pay, iDEAL, SEPA, Interac e-Transfer, Instant Verification, Google Pay |
| Review | Read our review |
Kraken
| Kraken snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.7
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
4.3
Official rating from the Android Play Store as of November 18, 2024.
|
| Deposit Methods | ACH, Bank Account, Apple Pay, Google Pay, SEPA, Interac e-Transfer, Debit Card, PayPal, Instant Verification |
Uphold
| Uphold snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.6
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
4.7
Official rating from the Android Play Store as of November 18, 2024.
|
| Deposit Methods | ACH, Bank Account, Apple Pay, Google Pay, Credit Card, Debit Card, SEPA, Interac e-Transfer |
MyBTC
| MyBTC snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
5.0
Official rating from the iOS App Store as of November 18, 2024.
|
| Deposit Methods | Interac e-Transfer, Flexepin, Wire Transfer |
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