How To Buy Bitcoin Cash In Canada (Jul 2022)

February 1, 2022
Blog

There are three main ways you could buy Bitcoin Cash (BCH) in Canada: you could use a cryptocurrency exchange to buy Bitcoin Cash directly using fiat currencies, (or buy other digital assets to trade them for Bitcoin Cash), use a cryptocurrency broker that allows you to trade cryptocurrencies in as little as a single click, or you could buy Bitcoin Cash through one of the Crypto ATMs that exist in Canada.

Bitbuy is our #1-rated crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend Bitbuy highly enough.

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Trusted by 400,000+ Canadians.

How To Buy Bitcoin Cash (BCH) In Canada

If you have a powerful enough computer, you could mine Bitcoin Cash yourself, but this doesn’t count as buying the digital asset and it’s usually way harder to get your hands on Bitcoin Cash this way.

This leaves us with three main ways you can buy Bitcoin Cash in Canada.

One way is by using a cryptocurrency exchange to buy digital assets using fiat currencies (like CAD and USD). You can also get it in exchange for other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

Another way is by using a cryptocurrency broker, which allows you to trade cryptocurrencies in as little as a single click. However, fees on cryptocurrency brokerages are usually higher, and some of these platforms limit your ability to place your funds in a personal crypto wallet.

Lastly, some Crypto ATMs exist in Canada, and some support Bitcoin Cash and other different types of cryptocurrencies.

3 Crypto Exchanges For Buying Bitcoin Cash In Canada

Here are our top Canadian crypto exchanges that support the buying and selling of Bitcoin Cash (BCH):

1. Bitbuy

Best Overall

Trading fees: 0.1%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

Bitbuy is, without a doubt, the best crypto platform in Canada in 2022.

For starters, Bitbuy has incredibly low trading fees: just 0.1% for trades made using their advanced trading platform. It supports 25+ cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

Bitbuy has processed more than $4 billion in trades across its 400,000+ Canadian users. It’s a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it’s a highly safe and secure exchange that offers deep liquidity for all order sizes.

For a limited time, Bitbuy is offering a $50 bonus to Yore Oyster readers who fund their account with $250 or more. If you’re looking for a highly-respected Canadian crypto exchange that offers altcoin trading, excellent customer service, and a slick mobile app, open a Bitbuy account today.

Features

  • Extremely low trading fees (0.1%)
  • Easy to use for both beginners and more advanced traders
  • Supports 25+ cryptocurrencies
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.1%
  • INTERAC Deposits/Withdrawals: 1.5%
  • Bank Wire Deposit: 0.5%
  • Bank Wire Withdrawal: 1%

Signup Bonus

$50 when you deposit $250 using this link.

Best For

Investors looking for extremely low fees and the best overall trading experience.

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Trusted by 400,000+ Canadians.

2. CoinSmart

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ending soon.

★★★★★

Rated 4.8/5

CoinSmart is a great second option for Canadians seeking a reliable, trustworthy crypto exchange.

Like Bitbuy, CoinSmart’s trading fees are also low, just 0.2%. They offer excellent customer support available 24/7 via phone, live chat and email, and user accounts are verified instantly.

CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), is registered as a Money Services Business with FINTRAC, and is a member of the anti-money laundering group TRUST, all of which means they’re a highly secure exchange. They maintain a 95% cold storage policy, and as a publicly-traded company, their financials are audited by a third-party firm at least once per year.

As a new CoinSmart user, you’ll receive a $50 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.

Features

  • Extremely low trading fees (0.2%)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Registered Marketplace by the OSC
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.2%
  • INTERAC Deposit: 0%
  • Bank Wire Deposit: 0%
  • Bank Wire Withdrawal: 1%
  • EFT Withdrawal: 1%

Signup Bonus

$50 bonus when you sign up using this link and our promo code YOREOYSTER.

Best For

Investors looking to trade with low trading fees.

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Offer ends soon.

3. VirgoCX

Best For Fringe Coins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5

Based in Toronto, VirgoCX is another one of the best Canadian crypto exchanges. Its users appreciate that it offers 50+ cryptocurrencies, one of the widest selections of any exchange on this list. 

VirgoCX’s trading platform and mobile app are intuitive and easy to use, even for beginners. It offers 24/7 customer support via live chat and email, plus an extensive FAQ section on its site.

VirgoCX charges no deposit or withdrawal fees on fiat and covers the first $6 in mining fees on ERC20 withdrawals. It requires 2-factor authentication on all accounts, and maintains a 95% cold storage policy to keep your assets safe at all times.

Features

  • Supports 50+ cryptocurrencies
  • Free fiat deposits and withdrawals
  • Free deposits and withdrawals on most cryptocurrencies
  • 24/7 support available via live chat and email
  • User-friendly for both beginners and more advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Cash Deposits: Free
  • Cash Withdrawals: Free
  • Crypto Deposits: Free
  • Crypto Withdrawals: Free for all major coins
  • Spreads on trades: Around 1%

Signup Bonus

$30 when you fund your account with $100 or more using this link.

Best For

Investors looking to buy altcoins before everyone else.

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Free account, instant verification

Bitcoin Cash (BCH) FAQs

1. What is Bitcoin Cash (BCH)?

Bitcoin Cash spawned in 2017 amidst interesting conditions: it originally wasn’t planned to be created, but after a hard fork from Bitcoin which was supposed to solve some of Bitcoin’s problems with scalability, Bitcoin Cash became its own altcoin entirely.

Bitcoin Cash hasn’t seen as much success as the original cryptocurrency, Bitcoin, even despite the fact that it has lower transactions fees.

Interestingly enough, Bitcoin Cash also went through a hard fork around 2018, which spawned a whole new altcoin, Bitcoin SV.

2. Can You Buy Bitcoin Cash (BCH) In Canada?

Yes, and there are plenty of cryptocurrency exchanges and cryptocurrency brokers that allow you to buy, sell and trade for Bitcoin Cash tokens. All you need to do is make sure the exchange or brokerage you choose supports it and you’ll be good to go.

I recommend using either CoinSmart, Crypto.com, or Bitbuy. These are our top-rated exchanges in Canada, and they each allow you to buy Bitcoin Cash with relatively low fees.

3. Where Do I Store My Bitcoin Cash (BCH) Tokens?

There are plenty of different ways that you can store your Bitcoin Cash (BCH) tokens once you have them.

The simplest way would be to keep them inside your account’s balance on the exchange where you purchased them. This could be safer than storing it in a software (or hot) wallet, considering crypto platforms tend to keep 95% of the coins they hold in cold storage. However, there’s still a small chance that your Bitcoin Cash could be hacked or stolen if you do this, so be aware of this.

Another way to store your Bitcoin Cash (BCH) would be to use a personal crypto wallet to secure your private keys and digital assets. It’s not guaranteed safety, but a cold wallet is safer than leaving your funds in the exchange you originally purchased your altcoins from.

As someone who’s tried out more than a dozen different wallets over the years, here are my top 3 picks for the best crypto wallet for Canadians:

Most Popular

Supports: 5,500+ crypto assets
Type: Hardware wallet
Cost: $$

Canada’s most popular wallet.

★★★★

Rated 4.3/5

Budget Pick

Supports: 1,000+ crypto assets
Type: Hardware wallet
Cost: $$

The cheapest hardware wallet.

★★★★

Rated 4.1/5

Best For Altcoins

Supports: 5,500+ crypto assets
Type: Hardware wallet
Cost: $$$

An upgraded Nano S.

★★★★

Rated 3.8/5

  1. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. It supports 5,500+ cryptocurrencies and allows users to hold up to 3 different digital assets on the device at any given time.
  2. Trezor Model One: The Trezor Model One is a hardware wallet and password manager that supports 1,000+ cryptocurrencies. Its Trusted Display ensures extremely secure transactions, and its compact design makes it easy to keep your crypto safe.
  3. Ledger Nano X: The Ledger Nano X is a more expensive, more capable version of the Ledger Nano S. It supports 5,500+ cryptocurrencies and allows users to hold 100+ digital assets on the device at any given time.

4. Is Bitcoin Cash A Good Investment?

It’s hard to say whether or not Bitcoin Cash is a good investment, mainly because Bitcoin Cash, like most cryptocurrencies, is a volatile investment that is subject to wild fluctuations in its price.

Despite how easy it is to buy, sell and trade cryptocurrencies in this day and age, investing in crypto tokens like Bitcoin Cash may not be for you if you can’t handle these fluctuations.

In Summary

Bitcoin Cash is now easier to buy, sell and trade than ever: for starters, you can buy it directly or buy other cryptocurrencies and then trade them for Bitcoin Cash using cryptocurrency exchanges.

You also have cryptocurrency brokers that make the process even easier and allow you to trade for Bitcoin Cash in as little as a single click, and you also have Bitcoin ATMs in Canada that allow you to buy Bitcoin Cash directly.

Bitbuy is our #1-rated crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend Bitbuy highly enough.

CLAIM MY $50 BONUS
Trusted by 400,000+ Canadians.

The Best Crypto Exchanges In Canada

Best Overall

Trading fees: 0.1%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

Trusted by 200,000+ Canadians.

★★★★★

Rated 4.8/5

Best For Altcoins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5