How To Buy Bitcoin Cash In Canada (Nov 2021)

November 15, 2021
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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.

Personally, we recommend you use CoinSmart, both for its high level of security and for its ease of use. It also has the lowest trading fees of any exchange in Canada, so if you’re looking for a secure, cost-effective way to buy and sell crypto, we can’t recommend CoinSmart highly enough.

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.

Top 5 Crypto Exchanges and Crypto Brokers To Buy Bitcoin Cash In Canada

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

1. CoinSmart

CoinSmart

CoinSmart is one of the most popular crypto exchanges in Canada, based in Toronto. It was founded by former bankers with the intention of simplifying cryptocurrency investing for the masses, and it currently supports 14 cryptocurrencies, including Bitcoin Cash (BCH).

Trading with CoinSmart costs just 0.20%, which are the lowest trading fees of any exchange in Canada. They offer excellent customer support as well, whether it’s via phone, live chat or email, and you can verify your account instantly.

Most crypto exchanges require you to trade altcoins with stablecoins first, but CoinSmart allows users to trade altcoins directly, which minimizes fees and boosts your profits.

Features

  • Supports 14 cryptocurrencies
  • Lowest trading fees in the industry (just 0.20% per trade)
  • Instant account verification
  • Trade all altcoins directly
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure
  • 24/7 customer support available via phone, live chat or email

Cost

  • Trading Fees: 0.20%

Signup Bonus

$50 when you deposit at least $100 using this link

Best For

Investors looking to trade stablecoins and altcoins with the industry’s lowest fees.

2. Crypto.com

Crypto.com is a cryptocurrency exchange and financial services platform that was created in 2016. It supports 100+ cryptocurrencies, making it a great crypto exchange choice for investors interested in undiscovered altcoins.

Crypto.com has invested a lot of money into making its platform secure, so you can mostly forget about security issues when using Crypto.com. The exchange is also extremely fast when updating its daily prices, meaning that you can get ahead of the competition using this platform if you’re a crypto day trader.

Features

  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Reasonable trading fees (0.4% per trade)
  • Free deposits from all cryptocurrencies

Cost

  • Trading Fees: 0.4%

Signup Bonus

$25 of CRO when you stake $1,000 of CRO using this link

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

3. Bitbuy

Bitbuy is another great option when it comes to cryptocurrency exchanges. It supports 9 cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Stellar, EOS, Aave, and Chainlink). It prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

You can fund your Bitbuy account directly from your bank account via Interac e-transfer or bank wire, with all account deposits and withdrawals executed quickly.

Just like CoinSmart, Bitbuy verifies accounts instantly. Bitbuy is also gearing up to add 6 new coins in late November: PolkadotDogecoin, Polygon, Cardano, SushiSwap and Solana.

Features

  • Low trading fees
  • Easy to use for both beginners and advanced traders
  • Supports 9 cryptocurrencies (with 6 more coming in late November)
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Express Trading Fees: 0.50%
  • Pro Trading Fees: 0.10% to 0.20%
  • Interac deposits/withdrawals: 1.50%
  • Bank wire deposit fee: 0.50%
  • Bank wire withdrawal fee: 1.00%.

Signup Bonus

$20 when you deposit at least $250 using this link

Best For

Investors looking for top-level security and fast verification/deposits/withdrawals.

4. NDAX

NDAX

The National Digital Asset Exchange (NDAXsupports 20+ cryptocurrencies, including altcoins like Cardano, Shiba Inu, Fantom, The Graph, and Compound. It has competitive trading fees and a simple registration process, making it a decent choice for new crypto traders.

NDAX’s advanced charting tools also allow more seasoned traders to place advanced order types.

Features

  • Supports 20+ cryptocurrencies
  • Easy registration process
  • Wide range of resources to help beginner traders
  • Offers easy-to-use tools to aid you during trading
  • Offers advanced charting tools for more experienced traders

Cost

  • Trading Fees: 0.20%.

Signup Bonus

$10 when you deposit at least $100 using this link

Best For

Experienced traders seeking strong charting capabilities.

5. Netcoins

Netcoins is a beginner-friendly exchange that supports 9 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether, Ripple, QCAD, USDC, and Stellar) and charges trading fees of 0.5%.

Depositing and withdrawing fiat currencies is free with Netcoins, and the platform also allows users to set limit orders to buy and sell crypto when they hit a certain price level.

Features

  • Supports 9 cryptocurrencies
  • One-click trading for beginners
  • Free deposits and fiat withdrawals
  • Owned by a publicly-traded company (BIGG Digital Assets), which lends legitimacy and fiscal oversight

Cost

  • Trading Fees: 0.50%
  • Deposit and withdrawal fees: Free

Best For

Beginners looking for a user-friendly crypto exchange.

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 in.

Here are our top 3 cold storage wallet picks:

  1. Ledger Nano X: The Ledger Nano X is the best cold storage crypto wallet on the market today. It’s a hardware wallet that uses a certified secure chip to protect your private keys and it supports more than 1,800 crypto assets.
  2. Ledger Nano S: Similar to the Nano X, the Ledger Nano S is a hardware wallet with extremely positive reviews from its users. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.
  3. Trezor Model T: The Trezor Model T is a hardware wallet and password manager designed and created by the SatoshiLabs team. It supports 1,000+ cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, Zcash (ZEC), and many others.

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.

If you want to buy Bitcoin Cash in Canada, I recommend you use CoinSmart, both for its high level of security and for its ease of use. It also has the lowest trading fees of any exchange in Canada, so if you’re looking for a secure, cost-effective way to buy and sell crypto, CoinSmart is the way to go.

The Best Crypto Exchanges In Canada

#1 CoinSmart

  • Supports 13 cryptocurrencies
  • Lowest trading fees in the industry
  • 24/7 customer support

Signup Bonus: $20 when you deposit at least $100

#2 Crypto.com

  • Supports 100+ cryptocurrencies
  • Trade with up to 10x leverage
  • Earn daily interest by staking your coins

Signup Bonus: $10 of CRO when you stake $1,000 of CRO

#3 Bitbuy

  • Supports 9 cryptocurrencies
  • Extra secure cold storage of coins
  • Instant account verification

Signup Bonus: $20 bonus when you deposit $250 or more