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Buying Cardano 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 Cardano (ADA) and other cryptocurrencies from any province in Canada.
Things to Consider Before Buying Cardano in Canada
Before getting started, there are a few things to consider when you plan on buying Cardano in Canada. These are important in helping you both choose the correct time, and the correct service to make your Cardano 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 Cardano. 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 Cardano through. Always be sure to check for all fees 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 Cardano sales platform is as reputable. You can reduce your risk by making sure you perform your own due diligence.
Top Places to Buy Cardano (ADA) & Crypto in Canada
Coinberry is making it easy to access Cardano in Canada with no fuss and buy or sell the asset quickly through the user-friendly platform. Coinberry has been around since 2017 and has 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 (Financial Transactions and Reports Analysis Centre of Canada) which is an extra layer of trust.
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 Cardano 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 Cardano 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 Coinberry provides a secure, super-convenient, and well-trusted service with competitively low costs.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. They accept residents from all Canadian provinces excluding Ontario. As a Canadian trader, you can also use Binance to purchase Cardano. There are slight differences when it comes to using exchanges like Binance instead of purchasing your Cardano directly as you can through the other services mentioned.
The main key differences are that in purchasing from Binance you can also buy from other traders in the market through the exchange. This can mean great value for you in terms of price and costs. Binance charges between 1% and 3.5% for direct Cardano purchases using your credit, debit card, or bank transfer, though if you want to buy Cardano using another crypto the fee can be as low as 0.1% from other traders on the exchange.
The process of getting started is also just as convenient. All you need to do is register with Binance and complete the KYC checks they have in place. For direct Cardano purchases, they partner with Simplex as a payment provider that also ensures your transactions remain safe and secure. It should take no more than a few minutes to complete your Cardano purchase with Binance.
They also offer over 100 of the most popular cryptocurrencies, if you want to buy altcoins including Binance (BNB), this is a great option.
Ontario residents are prohibited.
Kraken is one of the oldest names when it comes to cryptocurrency exchanges operating in the industry and they have been accepting Canadian investors since 2015.
From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including Cardano (ADA).
The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.
This exchange is fantastic for offering a wide variety of digital assets.
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