How to Buy Bitcoin (BTC) in Canada – June 2023

Buying Bitcoin in Canada is now easier than ever with more trustworthy Canadian specific options, and more international exchanges offering options to Canadian residents.

In this article, we will detail how you can purchase Bitcoin (BTC) and other cryptocurrencies from any province in Canada.

Things to Consider Before Buying Bitcoin in Canada

Before getting started, there are a few things to consider when you plan on buying your Bitcoin in Canada. These are important in helping you both choose the correct time, and the correct service to make your Bitcoin purchase.

Market Position: This is a huge factor of course when you invest in any asset. Perhaps, even more, the case when you are buying Bitcoin. It is subject to more pronounced price movements than investing in stocks for example. In that case, you want to be fully aware of the market price at the time you are buying.

Trading Fees or Limits: These can vary from extremely competitive to very high depending on the service you choose to buy your Bitcoin through. Always be sure to check for all fee and charges before making a purchase.

Service Reputation: While all of the services we have chosen are some of the most trustworthy around, you should be aware that not every Bitcoin sales platform is as reputable. You can reduce your risk here by making sure you perform some due diligence.

How to Buy Bitcoin (BTC) in 4 Steps

The whole process can take as little as 10 minutes and all you'll need is a smartphone or computer, photo identification and a means of payment.

1. Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Bitcoin (BTC) cryptocurrency.
2. Create an account – Verify your email address and identity.
3. Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
4. Buy Bitcoin – Use your funds to Buy BTC.

Top Places to Buy Bitcoin (BTC) & Crypto in Canada

1. Bitbuy

Bitbuy is a Canadian cryptocurrency exchange that is proudly focused on serving Canadian traders and they offer some of the most popular cryptocurrencies including Bitcoin (BTC). The exchange was established in 2016 and has grown to become a popular and trusted marketplace for Canadian crypto-traders with now more than 350,000 users.

Bitbuy has developed a strong reputation for being a trustworthy and transparent operation. Their credibility has been enhanced on a number of fronts including being the first exchange in Canada to conduct proof of reserve audits which they began in 2019 and have carried out each year since.

They also offer: Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), EOS (EOS), Aave (AAVE), Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), SushiSwap (SUSHI), Chainlink (LINK), Solana (SOL), Polygon (MATIC), and Uniswap (UNI). 

Read our Bitbuy Review or sign-up now to get $25 Free.

2. Coinberry

Coinberry is making it easy to access Bitcoin in Canada with no fuss and buy or sell the asset quickly through their easy to use platform. They have been around since 2017 and have a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business, so very trustworthy from that standpoint.

You can have your account open and KYC verified here in no time at all and Coinberry also ensures the best value environment possible for buying or trading your Bitcoin and the other supported assets. With no deposit or withdrawal fees, and a 0.5% trading fee, they come in as one of the cheapest services where you can buy Bitcoin in Canada using your debit, credit card, wire, or Interac transfer. You should note though that as a market maker, they will apply a spread to the asset.

Overall they provide a secure, super-convenient, and well-trusted service with competitively low costs. As an added bonus and unique feature, you also have the ability to short Bitcoin through Coinberry if this is a strategy that interests you.

They also offer: Ethereum (ETH), Litecoin (LTC), Ripple (XRP),  Bitcoin Cash (BCH), and Stellar Lumens (XLM).

Read our Coinberry Review or visit Coinberry.

3. CoinSmart

Though CoinSmart has only been in business since 2018, they have already developed a strong reputation for being a transparent exchange with good backing and credibility and is one of the best exchanges to buy Bitcoin (BTC). Canada has some of the most stringent regulations in place for user security, so immediately, knowing that CoinSmart is Canadian founded and based in Toronto is a positive.

The exchange is registered with FINTRAC, the national financial intelligence agency of Canada as a money services business and was recently granted restricted dealer registration with the Ontario Securities Commission along with all the other Canadian Securities Administration members.

Furthermore, the company is publicly traded having launched on the Canadian NEO stock exchange in November 2021. This listing, alongside the other regulatory frameworks in place at CoinSmart, ensures that they provide one of the most transparent, and well-regulated environments in Canada and worldwide for cryptocurrency trading.

Sign up with code: getcrypto and get C$20 of BTC when you fund your account.

They also offer: Bitcoin (BTC), Ethereum (ETH),  Cardano (ADA), Litecoin (LTC), Uniswap (UNI), Chainlink (LINK), Polkadot (DOT), Shiba Inu (SHIB), Dogecoin (DOGE),  Bitcoin Cash (BCH), Stellar Lumens (XLM), and EOS (EOS).

Read our CoinSmart Review or visit CoinSmart.

4. Coinsquare

Since its inception in 2014, Coinsquare has grown to become a formidable player in the Canadian cryptocurrency space, setting new benchmarks for digital asset trading within the country. The exchange's foundational ethos centers around a user-first philosophy, with an unwavering commitment to providing a seamless and intuitive trading experience that caters to the unique needs of each user. This focus on the user is reflected in the exchange's innovative platform, which combines user-friendly design elements with cutting-edge technology to facilitate easy buying, selling, and trading of a diverse range of cryptocurrencies.

One of the standout features of Coinsquare is its robust security mechanisms, which have been meticulously designed to provide maximum protection against digital threats. From advanced encryption techniques to rigorous authentication protocols, Coinsquare invests heavily in the security of its platform, ensuring that users can transact with confidence, knowing that their assets are protected.

Additionally, Coinsquare takes pride in its transparent fee structure. Unlike many exchanges that have hidden charges and complex fee arrangements, Coinsquare has adopted a straightforward pricing model, with clearly outlined fees that users can understand and predict. This transparency not only enhances trust but also allows users to make informed decisions when executing trades.

5. Netcoins

Established in 2014 and proudly based in Vancouver, Netcoins has earned a prominent standing as one of Canada's top-tier cryptocurrency exchanges. This distinction is a testament to its commitment to delivering a superior trading experience marked by a user-friendly interface, stringent security protocols, and a broad spectrum of tradable tokens. Through its innovative approach and customer-centric services, Netcoins is significantly contributing to the evolution of digital asset trading within the Canadian landscape.

Netcoins' platform is especially recognized for its intuitive design, which is geared towards simplifying the often complex process of cryptocurrency trading. Regardless of a user's experience level, the platform's user-friendly interface enables seamless navigation and efficient execution of trades. This ease of use extends to all functionalities, including the purchase, sale, and trading of a diverse array of digital assets.

Netcoins' commitment to regulatory compliance further enhances its credibility and reliability in the eyes of its users. In an industry often marked by regulatory ambiguity, Netcoins' adherence to established standards sets it apart. This dedication not only ensures that the platform's operations are transparent and above board but also gives users the assurance that they are trading on a platform that prioritizes legal compliance.