How to Buy Ethereum in Canada

Buy Ethereum Canada

Buying and selling digital assets like Bitcoin and Ethereum all require similar processes, security, and personal responsibility to best secure your cryptocurrency.

How You Can Buy Ethereum in Canada

  1. Set up a Canadian crypto exchange account
  2. Set up an Ethereum wallet
  3. Buy & send Ethereum from exchange to your wallet

1. Where to Buy Ethereum: A Crypto Exchange

A cryptocurrency exchange is where you buy and sell Ethereum in Canada.

Funding and deposit options: INTERAC e-Transfer, wire transfer or bank draft are the easiest ways to transfer funds between your Bank account and the crypto exchange.

Payment options like credit cards and Paypal don’t work for most exchanges and banks. E-transfer is the easiest and cheapest way for most Canadians to transfer funds.

There is a fee (spread) for this exchange, rates will vary.

Exchanges and banks in Canada comply with KYC (Know Your Customer) Laws. This means you will need to upload a photo ID and other documentation to verify your identity before you buy Ethereum.

  1. Newton – Recommended for beginners. Low fees, easy to use, and lots of altcoins to buy and sell. Some users report signing up and the verification process can take time.
  2. Shakepay – Recommend for beginners. Easily buy and sell Bitcoin or Ethereum only. Set up limit buys / sells or recurring bitcoin purchases.
  3. NDAX – Recommended for buying and selling larger amounts. Buy Bitcoin with USDT or USDC trade pair.
  4. Netcoins – Netcoins is the first publicly owned crypto trading platform in Canada. Buy Bitcoin with UD dollars from your Canadian bank account.
  5. Bitbuy – Join the only Regulated Cryptocurrency Marketplace in Canada. Low fees & top security at Bitbuy® when you buy Bitcoin, Ethereum & more.
  6. VirgoCX – Buy Bitcoin, Ethereum and other Cryptocurrencies with competitive pricing, commission-free trading, convenient funding options, and 24/7 live support.
  7. Coinsmart – Trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash as easily as Altcoins like Solana, Stellar, Cardano and EOS with CoinSmart.

Compare Crypto Exchange Fees ➞

2. Set up Your Wallet

A cryptocurrency wallet is software that allows you to securely store, send and receive digital assets.

You can start with a Software Wallet (hot) to hold the keys to your Ethereum. Some popular and trusted wallets are Exodus, Trust Wallet, and Metamask.

Hardware Wallets offer offline storage for more security. Trezor or Ledger are current market leaders. Security Tip: Buy your hardware wallet direct from the manufacturer.

IMPORTANT!  Backup Your Wallet with a Seed Phrase

A seed phrase is 12 or 24 simple words the computer randomly generates for you. This is used to backup your crypto funds and allows you to regain access to your funds if something happens to your wallet.

Write your seed phrase on a piece of paper to back up your wallet. Put it somewhere very safe.

3. Send Ethereum from Exchange to Your Wallet

SEND your Ethereum from the exchange to your wallet RECEIVE address.

What is Ethereum?

Ethereum is a global, open-source platform for decentralized applications. In other words, the vision is to create a world computer that which anyone can build applications in a decentralized manner; while all states and data are distributed and publicly accessible.

Ethereum supports smart contracts in which developers can write code in order to program digital value.

Vitaly Dmitriyevich “Vitalik” Buterin is a Russian-born Canadian programmer and writer who is best known as one of the co-founders of Ethereum. Read his blog.

Is it legal to buy Ethereum in Canada?

Yes.

Best Exchanges to Buy / Sell Ethereum

Lowest fees: NDAX

Easy to use: Shakepay

Best Overall: Newton

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