How To Buy Ethereum In Canada (Nov 2021)

November 15, 2021
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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 you can trade those cryptocurrencies for Ethereum.

For this purpose, 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, I can’t recommend CoinSmart 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 an equal amount of the cryptocurrency through the use of a cryptocurrency exchange (such as Netcoins, CoinSmart, or Bitbuy).

Another way you can buy Ethereum is by using the same cryptocurrency exchange 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.

Also, keep in mind that you can also mine Ethereum directly from its blockchain through the use of a high-speed computer, but that doesn’t really count as buying it.

Top 5 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. CoinSmart

CoinSmart

CoinSmart is a cryptocurrency exchange founded in 2018 and based in Toronto. It’s the best crypto exchange in Canada, and it has been designed for beginners and experienced traders alike.

As for fiat currency support, it only features Canadian dollars (CAD) to date.

You have plenty of options as far as payment methods are concerned, including Interac e-Transfer, bank draft, credit card, debit card, and SEPA.

Trading fees are just 0.20%, which are the lowest trading fees for any crypto exchange in Canada.

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 an international crypto-exchange that’s based outside of Canada and offers support for 100+ cryptocurrencies, including Ethereum.

This trading platform also allows you to stake coins, and it even has its has own cryptocurrency known as Crypto.org Coin (or CRO).

As for fiat currency support, it only features Canadian dollar (CAD) and Euro (EUR) support, and payment methods are also pretty limited, as you can only pay through bank transfers.

Trading fees depend on your account level, just like Binance: they start at 0.40%.

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 Canadian crypto exchange option. It supports 9 cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Stellar, EOS, Aave, and Chainlink), and it has a beautiful, well-rated mobile app.

Just like CoinSmart, Bitbuy verifies accounts instantly. 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.

Bitbuy is also preparing to add 6 new coins in late November: Polkadot, Dogecoin, 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 (NDAX) is a cryptocurrency exchange based in Canada and was founded in 2017. It’s one of several Canadian crypto exchanges that offer Ethereum support.

It only supports Canadian dollars to date, but it has plenty of payment methods, including Interac e-transfer, wire transfer, bank draft, and crypto deposits. Trading fees are 0.20%.

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. Coinsquare

Coinsquare

Coinsquare is a Canadian cryptocurrency exchange that was founded in 2014 and is currently based in Toronto.

As for fiat currency support, the exchange currently supports funding in Canadian dollars (CAD) and U.S. dollars (USD).

Payment methods include Interac e-Transfer and bank wire transfer. Trading fees can range from 0.10% to 0.40%, and withdrawal fees can be considered high, being up to 2%.

Features

  • Supports 10 cryptocurrencies
  • Low trading fees (0.1% – 0.4%)
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Quick Trade: 0.20% for Bitcoin trades, 0.40% for trades of other coins
  • Bit Markets: 0.1% for liquidity trades, 0.2% for trades that remove liquidity

Best For

Investors looking for low trading fees.

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).

Middlemen can be removed from the equation of financial transactions through the use of “smart contracts”, which directly results in increased privacy and lower transaction fees. This is one of the reasons cryptocurrencies are so popular.

The Ethereum network also supports many other coin tokens in addition to Ethereum (known as stable coins). These stable coins include Dai and USDC.

The symbol for Ether is known as ETH, and it’s worth mentioning that there currently is no cap to 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 Crypto.com. 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 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 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.

In Summary

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

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.

If you want to buy Ethereum 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