Beaver Bitcoin is a Canadian, Bitcoin-only buying service that sends your coins straight to your own wallet and never holds them. It charges a flat 1.5% fee and pays the Bitcoin network fee for the delivery, with delivery by Interac e-Transfer in minutes. It is registered with FINTRAC as a money services business, but it is not on the CSA's list of authorized crypto platforms. I have held an active account since 2024.
- Best for: simple, transparent Bitcoin buying and set-and-forget recurring buys
- Skip it if: you want altcoins, Lightning, a trading screen or the cheapest possible Bitcoin
- Alternatives: Bull Bitcoin and Bitcoin Well are the other Canadian Bitcoin-only services
| Detail | Info |
|---|---|
| Coins | Bitcoin (BTC) only |
| Custody | Non-custodial. Bitcoin is sent to a wallet address you provide, and you need a Bitcoin wallet to buy |
| Fee | 1.5%. Beaver pays the Bitcoin network fee for delivery, every time |
| Funding | Interac e-Transfer (delivery in minutes), bill payment and wire transfer ("wire in the morning, bitcoin in your wallet by evening") |
| Buy Options | Instant Buy, Large Buy, Recurring Buy and Beaver Plaid, a personal service for buying more than $100K |
| Verification | Photo of a valid government ID, plus address, job title and a selfie |
| Registration | FINTRAC MSB Dam Good Money Corp. (operating as Beaver Bitcoin), registration N300000998, registered 2026-07-13, expiry 2028-11-30 |
| CSA Status | Not on the CSA's authorized list and not on its banned list |
| App | No mobile app yet. The website is mobile-friendly |
| Lightning | Not offered |
Written by Oleg Galeev, a Canadian crypto investor since 2016 and founder of OCryptoCanada. I have personally tested 60+ crypto exchanges available to Canadians since 2016. Ready to try it? Sign up with Beaver Bitcoin here. Not sure if it is the right fit? Take our exchange quiz or compare Bull Bitcoin and Bitcoin Well.
Pros
- Non-custodial: Bitcoin goes straight to your wallet on every purchase, so no exchange holds your coins
- One flat 1.5% fee, with the network fee covered. The quote you see is what you pay
- Recurring buys: set it up once and Bitcoin arrives in your wallet on schedule
- Beaver Plaid: a personal service for purchases over $100K
- FINTRAC-registered Canadian company
- One of the cleanest, most beginner-friendly interfaces I have used for buying Bitcoin
Cons
- Bitcoin only. No Ethereum, no altcoins, no stablecoins
- 1.5% is comparable to Bitcoin Well's 1.5% buy spread and below Bull Bitcoin's roughly 2% spread, but still not cheap for big purchases
- No Lightning Network. On-chain delivery only
- Full identity verification before any purchase, with no no-KYC option
- No mobile app yet, and a smaller support team than the big exchanges
- Not on the CSA's authorized list, so no CIRO investor protection applies
Is Beaver Bitcoin Legit And Safe For Canadians?
Yes, with the right expectations. Beaver Bitcoin operates through Dam Good Money Corp., which FINTRAC lists as a registered money services business (N300000998, registered July 13, 2026, expiring November 30, 2028). It is not a CSA-authorized platform and is not CIRO-regulated, which is normal for a Bitcoin-only service that never holds customer assets. The core safety argument is structural: Bitcoin is sent directly to your personal wallet on every purchase, so custodial risk does not apply.
I have been testing Canadian Bitcoin platforms since 2016, and the non-custodial model is the most important safety distinction in this space. When you buy Bitcoin on Shakepay, Coinbase or NDAX, your Bitcoin sits on their platform until you withdraw it. An exchange hack, insolvency or account freeze puts your holdings at risk during that window. Beaver Bitcoin removes that window. Every purchase flows from your CAD payment to Bitcoin in your personal wallet.
That advantage comes with a responsibility: if you lose access to your wallet, no one can recover your funds, and Beaver cannot help because it does not hold your Bitcoin. Back up your wallet before you buy. Our guide to the best crypto wallets for Canadians has options at every level.
The account-level protections that do apply are a full KYC procedure as required by FINTRAC, email notifications on transactions and standard password and email verification. One detail worth knowing is that Beaver's earlier FINTRAC registration (M21577275) expired on November 11, 2025, and the current registration under N300000998 was issued on July 13, 2026. Check the registry yourself if that matters to you.
How Do You Sign Up And Verify Your Account On Beaver Bitcoin?
Signing up is straightforward and takes about 10 minutes in my experience. You need to be 18 or older, provide a photo of a valid government ID, a selfie, your address and your job title, and register a Bitcoin wallet address. Verification is required before any purchase, and there is no no-KYC tier.
The wallet address requirement catches new users off guard. You cannot place a purchase without providing a Bitcoin wallet address, and the site says plainly that you need a wallet to buy from Beaver. That is the correct design for a non-custodial platform, because Beaver needs to know where to send your Bitcoin before you pay. If you do not have a wallet yet, read our best crypto wallets for Canadians guide first. Hardware wallets like Trezor and Tangem are the most secure for long-term holding, and a software wallet is fine if you are just starting.
Once you are verified, buying takes three steps: pick Interac, bill payment or wire; complete the payment at your bank; and receive Bitcoin in your wallet with an email confirmation. There is no separate withdrawal step, and no Bitcoin balance sitting on Beaver that you have to remember to move.
How Do You Buy Bitcoin On Beaver Bitcoin?
Beaver offers Instant Buy, Large Buy, Recurring Buy and Plaid. Which one fits depends on how much you are buying and how you are paying.
Interac E-Transfer
This is the main route for most Canadians. Log into the dashboard, click Buy, enter an amount and follow the Interac instructions. Once Beaver receives your funds, it buys the Bitcoin and sends it to your registered wallet, and Beaver says delivery takes minutes. You get an email confirmation with the purchase details. I could not verify a published per-transaction Interac limit on Beaver's own site, so check the limit in your dashboard before a large purchase.
Bill Payment And Wire Transfer
For larger purchases, you can pay by adding Beaver Bitcoin as a payee in your online banking, much like paying a utility bill. Wire transfers are also supported, and the site says that a wire sent in the morning means Bitcoin in your wallet by evening. Not every bank supports bill payment as a way to pay, so confirm with yours before relying on it for a time-sensitive purchase. I could not verify the settlement time or cap for bill payment, so confirm both in your account.
Beaver Plaid For Purchases Over $100K
For individuals and businesses buying more than $100K of Bitcoin, Beaver Plaid is a personal service. You start with an intro call, then complete onboarding and KYC, receive payment details and see a quote before you execute. For context, Bitcoin Well and Bull Bitcoin also run OTC desks. Bull Bitcoin says discounted rates apply to its Prime users with more than $100,000 in volume.
Recurring Buys
Recurring Buy links your bank account so that CAD leaves your bank on a schedule and Bitcoin lands in your wallet automatically. One Beaver customer put it this way in a review: "I finally have a totally hands off DCA system set up with Beaver. The money comes out my bank and BTC delivered to my wallet every week. I don't have to lift a finger."
What Does Beaver Bitcoin Cost?
Beaver Bitcoin charges 1.5% on every purchase, and it pays the Bitcoin network fee for your delivery every time. On a $100 purchase, I bought $100 of Bitcoin through Beaver and received $98.50 worth. That is exactly 1.5%. On a $1,000 purchase, the same rate means $985 worth of Bitcoin.
The simple fee model is one of Beaver's genuine differentiators. Many Canadian crypto platforms either embed a spread in the price without disclosure or charge a visible fee on top of a spread. Beaver shows one number. Covering the network fee also helps on small purchases, since an on-chain Bitcoin transaction needs a mining fee that moves with congestion, and most platforms pass that to you.
| Platform | Cost To Buy | CAD Funding | Registration |
|---|---|---|---|
| Beaver Bitcoin | 1.5% fee, network fee covered | Interac e-Transfer, bill payment, wire | FINTRAC MSB |
| Bull Bitcoin (8.0) | No fee, about 2% spread each side (derived from the live quote, not a published rate) | Interac e-Transfer, bill payment and wire at no fee; Canada Post CAD 3.95 | FINTRAC MSB |
| Bitcoin Well (6.4) | 1.5% buy and 2.0% sell spread on the online portal | Interac e-Transfer, cash at 160+ ATMs | FINTRAC MSB |
On pure cost, Beaver and Bitcoin Well are level at 1.5%, and Bull Bitcoin's spread works out slightly higher on my 2026-10-01 live quote. What changes the picture is what else you get: Beaver pays the network fee, while Bitcoin Well does not cover it, and Bull Bitcoin adds Lightning and bill-pay extras. For someone who just wants to know exactly what they pay, Beaver wins on clarity.
How Does Beaver Bitcoin Work, Step By Step?
For the user it is two steps once the account is set up: register your wallet, then send CAD from your bank. Beaver handles the exchange and delivery. There is no trading screen, no order book and no exchange balance.
- Sign up and verify. Create your account at beaverbitcoin.com, finish KYC and register your Bitcoin wallet address.
- Choose your purchase method. In the dashboard, click Buy and select Interac e-Transfer, bill payment or wire. Enter the CAD amount or the Bitcoin amount, and the platform shows your exact quote including the 1.5% fee.
- Send payment from your bank. Complete the transfer from your online banking using the details Beaver provides.
- Receive Bitcoin in your wallet. Once Beaver receives your payment, it buys Bitcoin at the market rate and sends it to your wallet, with an email confirmation.
A recurring weekly buy works the same way, except step three happens automatically on schedule.
How Does Beaver Bitcoin Make Money?
Beaver earns the 1.5% on every purchase, and I found no other fee on its site. Since Beaver operates as a broker rather than an exchange, its model is to receive your CAD, buy Bitcoin from a liquidity provider, keep its fee and send the rest to your wallet. The simplicity is both its main appeal and its main limit. There are no complex fee interactions, but also no staking, lending or subscription products to add value beyond the buy.
What Are The Biggest Complaints About Beaver Bitcoin?
The company is small, so there is limited public review data to lean on, and I will not quote a score I cannot verify. The recurring feedback patterns I see are the fee compared with other Bitcoin-only services, no Lightning support and the wallet-address requirement at sign-up.
Fee Is Not The Lowest
At 1.5%, Beaver is not the cheapest way to buy Bitcoin in Canada for large amounts, especially if you use a platform with volume pricing for big orders. The counter-argument is that Beaver's 1.5% is fully visible and covers the network fee. The honest assessment is that it is competitive for small and medium buys and gets pricier as the amounts grow.
No Lightning Network
Beaver delivers on-chain only. For users who want Lightning for instant low-fee settlement or spending, that is a real limitation. For long-term holders who send Bitcoin to a hardware wallet anyway, on-chain delivery is perfectly adequate.
Full KYC For Every Purchase
There is no anonymous tier. Every purchase requires identity verification. That is a design choice, not a flaw, but it matters if privacy is your priority. Bitcoin Well sells vouchers through a Lite Account at a higher spread, so if no-ID buying matters to you, read the Bitcoin Well review.
Wallet Address Needed Up Front
Complete beginners who arrive without a wallet cannot finish setup. That is correct for a non-custodial service, but it is a barrier for the newcomers the simple interface attracts. Set up a wallet first, then sign up.
Small Company, Limited Support And No App
Beaver is a small focused company with no mobile app yet, though the website is fully mobile-friendly. For routine purchases that is fine. For anything time-sensitive, it is worth knowing in advance that the team is smaller than at a big exchange.
How Does Beaver Bitcoin Compare To Other Canadian Bitcoin Platforms?
All three Bitcoin-only services send Bitcoin to your own wallet and are FINTRAC-registered. Bull Bitcoin has the most extras, including Lightning. Bitcoin Well has the ATM network and a voucher option for buyers who do not want a full account. Beaver has the simplest interface and the clearest fee. Our ranking puts Bull Bitcoin at 8.0 and Bitcoin Well at 6.4, and Beaver is not part of that ranking.
What Is A Non-Custodial Bitcoin Broker, And Why Does It Matter?
A custodial exchange keeps your coins in its own wallets and gives you a balance in an app. A non-custodial broker like Beaver Bitcoin takes your CAD, buys the Bitcoin and sends it on, so the only time your money sits with the company is the short window between your payment arriving and the coins leaving. That is a different risk from leaving a balance on an exchange for months, and it is why so many long-term holders prefer this model.
The trade-off is that you carry the full responsibility. There is no password reset for a lost seed phrase, no support ticket that restores a wallet and no customer protection scheme for coins you send to the wrong address. If the idea of managing your own keys makes you nervous, a registered exchange such as Coinbase is the easier starting point, and you can graduate to self-custody later.
What Should You Check Before Your First Beaver Bitcoin Purchase?
- Have the wallet ready. Create it, write down the recovery phrase on paper and store it offline.
- Send a small test purchase first. Buy a small amount, confirm it lands at the right address, then scale up. Because the fee is a flat percentage, a test purchase costs you only that percentage.
- Copy the address carefully. Compare the first and last characters of the address after you paste it, and receive the first transaction with a fresh address you control.
- Read the quote. The platform shows the exact quote before you pay, so make sure the Bitcoin amount matches what you expect after the 1.5%.
- Keep the paperwork. Save the email confirmations. You will want them when you report your holdings and disposals.
How Is Bitcoin Bought Through Beaver Taxed In Canada?
The CRA treats crypto as a commodity. Buying Bitcoin and holding it is not a taxable event, but selling it, swapping it or spending it is a disposition you report, either as a capital gain or as business income depending on how you trade. Beaver does not give you a Canadian tax slip, so keep the purchase emails and your own records of cost and date. A crypto tax tool such as Koinly can import wallet history later and save a lot of time at filing season.
Which Canadian Bitcoin Service Fits Which Buyer?
I use three simple rules. If you want the simplest process with a flat fee and Bitcoin delivered to your own wallet on a schedule, Beaver Bitcoin is a good fit. If you want to stack small amounts through Lightning or pay bills, look at Bull Bitcoin. If you want to feed cash into an ATM or avoid a full account for small amounts, Bitcoin Well covers that. None of the three is a replacement for a registered exchange if you also want altcoins, staking or the protections that come with a CSA-authorized platform. Use the best crypto exchanges for Canadians ranking to see how they all stack up, and the exchange quiz if you would rather have it picked for you.
What Does Beaver Bitcoin Not Do?
It does not let you hold a balance, so there is nothing to trade, stake or lend. It does not sell anything except Bitcoin. It does not run an app, a chart screen or an order book, and it does not offer Lightning delivery. It also does not offer the investor protections that come with a CSA-authorized exchange. None of that is hidden, and for a buyer who knows what they want, the narrow scope is the whole point. But if you read a review like this hoping for a one-stop platform, this is not it. Pair it with a registered exchange for everything else, and treat Beaver as a clean on-ramp from your bank account to your own wallet.
For very large amounts, ask for a quote through the personal service route and compare it with the volume pricing at other platforms before you commit.
Who Should Use Beaver Bitcoin, And Who Should Not?
Beaver Bitcoin Is A Good Fit If You
- Are buying Bitcoin for the first time and want a simple, transparent experience
- Want to dollar-cost average with Bitcoin delivered to your wallet automatically
- Value knowing exactly what you pay: 1.5%, with the network fee covered
- Plan a large purchase over $100K and want personal guidance from Beaver Plaid
- Already have a Bitcoin wallet and are comfortable with self-custody
Beaver Bitcoin Is Not The Right Choice If You
- Want Lightning delivery. Check Bull Bitcoin
- Want to buy Bitcoin without ID. Look at Bitcoin Well voucher options
- Want to trade actively with charts and order types. Beaver is buy-only
- Want altcoins. See Kraken, Newton or NDAX
Is Beaver Bitcoin Worth It For Canadians?
Beaver Bitcoin occupies a clear and honest position in the Canadian Bitcoin market. It is not the cheapest, it does not have the longest track record, and it does not support Lightning. What it has is one of the clearest fee structures in the country, with the network fee covered, the simplest buying interface I have tested across 60+ exchanges, and a personal OTC service in Beaver Plaid for large purchases.
The recurring-buy use case is where it shines. Setting it up once and having Bitcoin land in your hardware wallet every week without touching anything is exactly what it promises. For Canadians who want to accumulate Bitcoin steadily and value knowing precisely what they pay, it is a solid choice. If you want more features, Bull Bitcoin is the obvious next look, and if ATM or voucher access matters, Bitcoin Well covers that. Many Canadians use more than one. Sign up with Beaver Bitcoin here, or ask questions in r/OCryptoCanada.
What Changed For Beaver Bitcoin In October 2026?
- FINTRAC registered Dam Good Money Corp. (Beaver Bitcoin) under N300000998, valid to November 30, 2028.
- Beaver's earlier FINTRAC registration (M21577275) expired.
- Beaver's site lists Instant Buy, Large Buy, Recurring Buy and Plaid options and notes that a mobile app is not available yet.
Frequently Asked Questions
Is Beaver Bitcoin Safe For Canadians?
It is a FINTRAC-registered money services business (N300000998, registered July 13, 2026) and it is non-custodial, because your Bitcoin goes straight to your own wallet. It is not on the CSA's authorized list, so CIRO investor protection does not apply.
What Does Beaver Bitcoin Charge?
A flat 1.5% on Bitcoin purchases, and Beaver pays the Bitcoin network fee for delivery. When I bought $100 of Bitcoin I received $98.50 worth.
How Do You Buy Bitcoin On Beaver Bitcoin?
Verify your identity, register a Bitcoin wallet address, then pay by Interac e-Transfer, bill payment or wire. Bitcoin is delivered to your wallet, with Interac deliveries arriving in minutes.
What Is Beaver Plaid?
Beaver Plaid is Beaver's personal service for buying more than $100K of Bitcoin. It starts with an intro call and goes through onboarding and a quote before you buy.
Does Beaver Bitcoin Support Lightning Or Altcoins?
Can You Buy Bitcoin On Beaver Bitcoin Without ID?
No. Beaver asks for a photo of a valid government ID, plus your address, job title and a selfie, before you can buy.
Does Beaver Bitcoin Have A Mobile App?
Not yet. Beaver says its website is fully mobile-friendly.