Oleg Galeev

8 months ago

How to Buy Ethereum in Canada in 2023

Buying ETH in CAnada

What is Ethereum?

Ethereum (ETH) is the second-most valuable crypto coin behind bitcoin with a market cap of $176 billion. A whole Ethereum is worth $1,900 and the Ethereum network is the most popular of all.

While Bitcoin was a pioneer for decentralized finance, Ethereum was the pioneer of decentralized apps.

Created in 2016 by Vitalik Buterin, the Ethereum blockchain was the first decentralized blockchain network to allow smart contracts, non-fungible tokens (NFTs) and decentralized applications. Its blockchain technology, particularly smart contract functionality had never been seen before. It was Its native digital currency is Ether with the ticker symbol ETH.

Since then, the Ethereum ecosystem and decentralized finance has exploded. Hundreds of similar blockchains have been developed with many claiming to be an “Ethereum killer”. These blockchains also offer smart contracts and the ability to build decentralized apps just like the Ethereum blockchain network.

The Ethereum blockchain used to be a proof of work blockchain but it has recently switched to proof of stake making the Ethereum network environmentally friendly. 

There are many layer two blockchains built on top of the Ethereum blockchain with the aim of processing transactions off the main Ethereum network to ease congestion and lower network fees (gas fees), while still utilizing Ethereum’s security. These layer two solutions also offer the ability for developers to build decentralized applications on layer two.

Many people believe Ethereum will one day “flip” bitcoin and become the world’s most valuable cryptocurrency (it’s my personal opinion as well). The Ethereum network is certainly popular enough that this could potentially happen. The more apps that are built on the Ethereum network, the more valuable the crypto could become.

You might be wondering how to buy Ethereum in Canada.

Ethereum is available on almost every crypto exchange and is readily available to Canadians. Ethereum has a high daily volume and online platforms everywhere offer it.

Disclaimer: Our website uses referral links to the crypto exchanges mentioned in the article as a means of monetization. This supports our efforts to provide high-quality, independently researched content for Canadians. Please be assured that our ratings are not influenced by these referral programs and our advice is always in the best interest of our Canadian audience. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Where to Buy Ethereum in Canada in 2023

Below we have listed some of the best crypto exchanges based on ease of use, reputation, and cost. Not all of these platforms offer the ability to deposit fiat currencies but you can buy Ethereum with other crypto assets instead.

Read on for how to buy Ethereum in Canada.


Coinsmart is a Canadian exchange that offers an easy way for Canadians to buy Ethereum. It offers many different cryptocurrencies and you can get verified the same day you sign up.

Coinsmart offers Interac e-Transfer deposits with a 1.5% fee for deposits less than $2000. These financial transactions are almost instant and buying ETH is easy with CoinSmart’s express trade.

Trading incurs a 0.2% fee, whether you want to buy or sell cryptocurrency, which is lower than some other exchanges, and withdrawals have a 1% fee. Coinsmart is a popular exchange for beginners because it is simple to use, but it does have high spreads, so it may not be the cheapest option for buying Ethereum. 

CoinSmart only supports the CAD fiat currency. Sign up to Coinsmart using this link and get a free $50.


If you’re a crypto beginner and looking for how to buy Ethereum in Canada, then you’ll want to check out Newton’s crypto exchange.

Newton is a beginner-friendly Canadian crypto exchange, You can buy ETH quickly and easily. Newton does not charge fees, so deposits and withdrawals are free, and there are no trading fees, however, it does have a slightly higher spread than some other crypto exchanges at 0.9%. 

Newton is a good place to buy Ethereum in Canada due to its ease of use and popularity with Canadians. You can deposit funds using Interac e-Transfer and receive your funds almost instantly so you can ETH quickly. 

Newton is fast becoming one of Canada’s top exchanges for beginners and a popular place to buy Ethereum in Canada. Sign up to Newton using this link and get a free $25.


Binance is the world’s largest crypto platform, It offers hundreds of cryptocurrencies including Ethereum. Binance has some of the lowest trading fees at 0.1%, which get lower the higher your VIP level. 

Binance is the place to go to find obscure altcoins, but it is still a good option to buy Ethereum. You can buy Ethereum using crypto, which you can deposit to your Binance account, or you can use a credit or debit card if accepted.

You can also buy Ethereum using a third-party bank transfer. Beware that these payment methods will incur high fees. Binance does not accept Canadian dollar deposits, so the cheapest way to buy Ethereum on Binance is with crypto.

Due to regulations, the Ontario Securities Commission prevents Binance from being available in Ontario. Sign up to Binance using this link and get multiple sign-up bonuses.


Netcoins is a Canadian cryptocurrency exchange owned by Bigg Digital Assets, a publicly traded company. With this in mind, you can be sure that Netcoins is fully compliant with Canadian regulations. 

Netcoins offers free deposits and withdrawals but trading fees are fixed at 0.5% for every trade, which is higher than some other exchanges. 

Netcoins does offer instant verification, phone support, USD deposits, and its own cashback card for spending crypto. 

If you’re looking to buy Ethereum in Canada then Netcoins is a good choice due to its reputation and good customer service. 

Unfortunately, Netcoins has a slightly higher spread than some other exchanges at around 0.9%. Sign up to Netcoins using this link and get a free $25.


NDAX is another beginner-friendly Canadian exchange. If you would like to buy ETH on NDAX, simply deposit Canadian dollars via Interac e-Transfer for free. 

NDAX has good customer service reviews and it is fast becoming a reputable Canadian crypto exchange. 

The fees are relatively cheap with its fixed 0.2% buy and sell fee and the spread is approximately 0.36% making NDAX one of the cheapest Canadian exchanges to buy Ethereum. 

Debit and credit cards are not accepted, but we recommend using Interac e-Transfer to deposit your funds for free. Sign up to NDAX using this link and get a free $10.


Shakepay is a popular cryptocurrency exchange for Canadians to buy digital assets.

It has some unique features that are unrivaled such as its “Shaking Sats” program. Simply open the Shakepay app once a day and shake your phone to receive free bitcoin. 

Shakepay is also a good crypto exchange to buy Ethereum. The app is incredibly easy to use and offers free deposits and withdrawals with only a $5 minimum. Interac e-Transfer is available to deposit Canadian dollars so you can trade Ethereum in no time.

Bitcoin and Ethereum are the only digital currencies available, but you can withdraw your digital assets to a private wallet.

Shakepay has quite a high spread between 1.2% to 2.5% so it is definitely on the more expensive end of Canadian exchanges. Sign up to Shakepay using this link and get a free $10.


Uphold is a multi-asset trading platform offering cryptocurrencies, stocks, and precious metals. Not everything is available to Canadian crypto investors due to regulations from the Ontario Securities Commission, but you can certainly buy Ethereum on this platform.

Uphold is similar to Wealthsimple crypto, though the latter also offers the ability to buy Exchange Traded Funds. However, if you also use USD, then Uphold might be a better choice since you can deposit from US banks via wire transfer.

Uphold has a high reputation as one of the best global trading platforms. There is the ability to set multiple limit orders at once meaning whichever crypto reaches your limit first, that trade will be executed. 

Uphold does not accept deposits from Canadian banks so to buy Ethereum with Uphold you can deposit crypto or purchase Ethereum using your debit card. There is, however, a 1.8% spread so trading is expensive. 

The advantage of using Uphold is you can invest in different asset classes, not just cryptocurrencies. Sign up to Uphold using our referral link to get bonuses.


Bitbuy is one of the most reputable exchanges in Canada. A Bitbuy account is simple to create and the verification process is easy.

Bitbuy is suitable for both beginners and more advanced traders with its Express and Pro platforms. It offers all the tools you need to trade. With your Bitbuy account, you can switch between these platforms whenever you wish.

Wire transfers for deposits and withdrawals are free but trading fees can be as high as 1.5%. Spreads are low at 0.2%. 

Still, Bitbuy is one of the best places you can buy ETH in Canada due to its high reputation, regulatory compliance, and ease of use.

Once you’ve bought Ethereum, you can stake it on Bitbuy for a return of 4-5% APR. Staked ETH is a great way to earn passive income. Sign up to Bitbuy using this link and get a free $20.


VirgoCX is a Canadian cryptocurrency exchange offering free deposits and withdrawals from Canadian and US banks. Interac e-Transfer is available to deposit Canadian dollars and your funds will arrive almost instantly. A bank wire is available for USD funds.

This trading platform is one of Canada’s top crypto exchanges for trading digital currencies including Ethereum. 

The downside to VirgoCX is it has a slightly higher spread than some other exchanges at 0.5% to 0.95% for tier 1 assets such as Ethereum.

However, VirgoCX is a secure and trusted exchange utilizing Coinbase Custody to store its digital assets, which comes with $1 million in insurance coverage. 


Satstreet is specifically for investors looking to purchase large amounts of crypto. If you’re intending to buy at least $25,000 worth of Ethereum, then you’ll want to use an Over-the-Counter service.

With Satstreet, you’ll get a fixed price to buy Ethereum and your dedicated account manager will facilitate the transaction. 

With Satstreet you can buy Ethereum in large quantities without high spreads or slippage meaning you’ll receive exactly the amount of Ethereum you were quoted. 

Satstreet does not have an exchange but is a dedicated OTC crypto service for people looking to place large orders of Ethereum. 

How to Buy Ethereum in Canada in 2023

To buy Ethereum in Canada you can sign up to any crypto platforms offering it (the ones we mentioned above) using your name and email address.

Next, you will need to have your account verified by uploading identity documents and either a video or a selfie to confirm your identity. 

In some cases, you will also need to answer some basic financial questions, but this depends on how heavily regulated the exchange is. 

Once you’re verified, you can deposit CAD via bank transfer from your bank account. These bank transfers are often free meaning you can purchase ETH via an easy payment method.

Some platforms will have higher fees than others, but your choice of exchange can depend upon many factors including other digital currencies they offer, ease of use, and whether they have an express trade for fast ETH transactions.

How to Keep Ethereum Safe and Secure in Canada

Crypto trading platforms are vulnerable to hacks, which means there is a chance your Ethereum could be stolen if you leave it on an exchange. It is always safest to move your digital currency to a private crypto wallet such as a hardware wallet.

With private wallets you will be in charge of keeping your private keys safe. If someone gets hold of your private key then they could steal your crypto. It’s important to keep it safe where no one can find it.

We have reviewed several of the best crypto wallets in Canada for you to choose from in our previous article. 

How to Sell Ethereum in Canada

To sell Ethereum in Canada, go to the exchange where you bought it. Transfer your Ethereum from your crypto wallet to the exchange and click “sell”.

You can either sell Ethereum for another cryptocurrency depending on what trading pairs are available or for Canadian dollars if the exchange allows it. 

If using a Canadian crypto exchange, you will be able to withdraw your funds to your bank account via bank wire. Withdrawals are often free but there may be fees are limits involved.


Can you buy ETH in Canada?

Yes, you can buy Ethereum in Canada with any Canadian exchange. We recommend transferring your Ethereum to crypto wallet for safekeeping.

What is the best way and place to buy ETH in Canada?

We recommend using any of the exchanges mentioned in this article to buy Ethereum.

Canadian crypto exchanges offer the fastest and easiest way for Canadians to purchase the digital currency Ethereum. Wire transfer is available in most cases, as is Interac.

How to trade ETH in Canada?

To trade Ethereum in Canada you can use any exchange to swap Ethereum for another crypto. Each exchange will have different trading pairs available, but you will usually be able to swap Ethereum for bitcoin or USDT at minimum.

Is ETH a good investment for Canadians?

Ethereum is the second-most valuable cryptocurrency in the world. The Ethereum network continues to be the number one blockchain for smart contracts and decentralized apps, so it’s unlikely that Ethereum will disappear.

Now that Ethereum is proof of stake it is much kinder to the environment, and there are many layer two blockchains built on Ethereum to help ease congestion on the network. 

This infrastructure only continues to grow and evolve with Ethereum remaining at the centre of it. When you hear the words “smart contract” the Ethereum network is the first blockchain that would come to most people’s minds.

We, therefore, think buying Ethereum is a good initial investment for Canadians. The Ethereum network is likely to continue grow, which could improve your financial well-being if you invest. Of course, this is not guaranteed.

Remember that you need to report all crypto transactions to the Canada Revenue Agency when doing your taxes.

  • How To


Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.