How To Buy Ethereum In Canada

May 9, 2022

There are two ways that you can buy Ethereum in Canada: you can use fiat currencies (such as CAD or USD) to purchase an equal amount of the cryptocurrency through a cryptocurrency exchange, or you can buy Ethereum by using the same exchange to buy other cryptocurrencies like Bitcoin (BTC), Tether (USDT) or USD Coin (USDC), and then trading those cryptocurrencies for Ethereum.

The best crypto exchange in Canada is Kraken, both for its high level of security and for its extremely low fees. Kraken charges 10-20x less than other Canadian exchanges, so if you're looking for a secure, cost-effective way to buy and sell crypto in Canada, I can't recommend Kraken highly enough.

How Can I Buy Ethereum (ETH) In Canada?

There are two ways that you can buy Ethereum in Canada.

For starters, you can use fiat currencies (such as CAD or USD) to purchase Ethereum directly using a crypto exchange like CoinSmart or Bitbuy.

You can also buy Ethereum in Canada indirectly by using the same cryptocurrency exchanges mentioned above, or another one like VirgoCX, to buy other cryptocurrencies like Bitcoin (BTC), Tether (USDT) or USD Coin (USDC), and then you can trade those cryptocurrencies for Ethereum (ETH) on a different trading platform.

Pro tip: If you don't have an account with a reputable crypto exchange, you can take advantage of the many referral programs out there to get a head start when buying your first ETH.

Keep in mind that you can also mine Ethereum directly from its blockchain using a high-speed computer, but devices capable of doing so are very expensive and it can be hard to break even after the initial investment.

Top 3 Crypto Exchanges To Buy Ethereum In Canada

Here are some of the best cryptocurrency exchanges you can use to buy and sell Ethereum in Canada:

1. Kraken – Best In Canada & Lowest Fees

Best In Canada

Total Fees: ~0.16%
Security: Best in class
Customer Support: Excellent

By far the lowest fees in Canada.


Rated 4.9/5

Based in the U.S. and regulated by FINTRAC in Canada, Kraken is undoubtedly the best crypto exchange in Canada. Founded in San Francisco back in 2011, Kraken outperforms the smaller Canadian crypto exchanges due to its significantly lower fees, better customer support, and superior overall trading experience.

For starters, Kraken's fees are far lower than any Canadian exchange, with most users paying 0.16% per transaction (fees decrease down to 0% if you trade high volumes). Kraken's spreads are also absurdly low, typically around $0.10 per Bitcoin, which is 0.0003%. Compare that with the other Canadian exchanges—which routinely charge up to 2% in commissions plus an additional 2% or more in spreads—and it's easy to see why Kraken is such a popular exchange.

Kraken also has better customer support than any other Canadian exchange, and is the only exchange in Canada offering telephone support (available in English, French and Spanish). It supports 100+ cryptocurrencies and has a world-class trading platform and mobile app that's powerful yet easy to use.

If that wasn't enough, Kraken's trading platform is far more professional and robust than its Canadian peers, offering features like NFT trading, staking and support for a wide range of fiat currencies including CAD, USD, EUR, and more.

Overall, Kraken is the best fit for most Canadian crypto investors because it has lower fees, better support and a better trading platform overall. If you're looking to start trading crypto in Canada, we strongly recommend Kraken.


  • Extremely low trading commissions (0.16%)
  • Extremely low spreads (0.0003%)
  • Trade 100+ cryptocurrencies
  • Stake 100+ cryptocurrencies
  • Simple, intuitive user interface
  • Kraken Crypto Watch allows you to keep track of the crypto market
  • NFT trading inside the Kraken app
  • 24/7 customer support via phone, email and live chat
  • Plenty of free educational resources available to users
  • 95% cold storage policy
  • Regulated by FINTRAC


  • Trading Fees: 0.16% (spot trades cost 0.26%)
  • Spreads: 0.0003%
  • Fiat Deposit Fee: 0%
  • Fiat Withdrawal Fee: $10 CAD

Best For

Canadian cryptocurrency investors looking to trade with the industry's lowest fees.

2. Bitbuy – $50 Signup Bonus

Strong Security

Trading fees: 2% (High)
Security: 99% cold storage
Signup bonus: $50

Higher fees, strong security.


Rated 4.2/5

Bitbuy is a decent backup option for Canadians in need of a crypto exchange.

Bitbuy user accounts are verified instantly, but its customer support has degraded over time, and trading fees are quite high at 2%, more than 10x that of Kraken.

To date, Bitbuy has processed more than $4 billion in trades across its 450,000+ 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 on all order sizes.

I've personally used Bitbuy for over a year, so I've seen them change their platform over time. For example, Bitbuy recently removed its fees on deposits, making the overall trading experience less expensive for users. However, they increased their trading fees to 2% around the same time, negating most or all of those cost savings.

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 exchange that offers great customer service and a slick mobile app, open a Bitbuy account today.


  • Easy to use for both beginners and more advanced traders
  • Supports 25+ cryptocurrencies
  • Customer support via live chat and email
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure


  • Account Opening: Free
  • Trading Fees: 2%
  • INTERAC Deposits: Free
  • INTERAC Withdrawals: 1.5%
  • Bank Wire Deposit: Free
  • Bank Wire Withdrawal: 1.5%
  • Credit Card Transactions: 6.25%

Signup Bonus

$50 bonus when you deposit $250 using the link below

Best For

Investors looking for a smooth trading experience (though be aware of high fees).

In Summary

Ethereum, the second most popular crypto in the world to date, is now easier to buy and sell than ever in Canada.

Crypto exchanges are becoming easier and more popular to use as time goes on, and with the prevalence of crypto wallets on the rise as well, there truly isn't a better time to get into the crypto investment business than now.

The best crypto exchange in Canada is Kraken, both for its high level of security and for its extremely low fees. Kraken charges 10-20x less than other Canadian exchanges, so if you're looking for a secure, cost-effective way to buy and sell crypto in Canada, I can't recommend Kraken highly enough.

Ethereum FAQs

1. What is Ethereum?

Ethereum is a cryptocurrency that was first introduced by Vitalik Buterin in 2013. It uses blockchain technology (just like Bitcoin does), as well as “smart contract” technology, which directly results in increased privacy and lower transaction fees by removing middlemen from the equation. This is one of the reasons cryptocurrencies are so popular.

The symbol for Ether is known as ETH, and there currently is no cap on the number of Ether that can be in circulation (unlike Bitcoin, which has a cap of 21 billion).

2. Can I buy Ethereum (ETH) in Canada?

Yes. Considering Ethereum is the second most popular cryptocurrency around, you'd have a hard time finding a crypto exchange and/or broker that doesn't support it, so all you'd have to do is create an account with one of these crypto exchanges and start trading there.

For this purpose, I recommend using one of the following exchanges: CoinSmartBitbuy, or These are currently our three top-rated exchanges in Canada, and each of them allows you to buy and sell Ethereum with relatively low fees.

3. How do I store my Ether?

There are a few ways to store your Ether once you've acquired enough of them.

One way is to simply leave it on the exchange where you purchased it. This could be safer than storing it in a software (or hot) wallet because crypto platforms tend to keep 95% of the coins they hold in cold storage. However, although unlikely, your Ether might still be subject to hacking and theft, so keep that in mind.

You could also store your Ether in a personal crypto wallet that secures 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:

#1 Best Overall

Supports: 70+ crypto assets
Type: Software wallet
Cost: Free

The most secure wallet, period.


Rated 4.9/5

Top Hardware Wallet
Ledger Nano X

Supports: 1,800+ crypto assets
Type: Hardware wallet
Cost: $199 CAD

Rated 4.6/5 on Amazon.


Rated 4.3/5

Best For Altcoins
Trezor Model One

Supports: 1,000+ crypto assets
Type: Hardware wallet
Cost: $75 CAD

Trusted by 1 million+ investors.


Rated 4.1/5

  1. ZenGo: ZenGo is a free software wallet that leverages the blockchain to make it significantly more secure than traditional wallets while also being extremely easy to use. Sending and receiving crypto to/from ZenGo is also free, and it takes less than 30 seconds to open your free ZenGo wallet.
  2. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. 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 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.

4. Is Ethereum a good investment?

Even though cryptocurrency exchanges make buying and selling crypto like Ethereum easier, it's worth mentioning that they're risky investments that are subject to wild fluctuations in price.

Therefore, it mostly depends, but if you're not sure whether or not you can handle such trading conditions, then trading cryptocurrencies like Ethereum might not be for you.

Earn $347 From Our First Email