How To Buy Ethereum In Canada 2024: Trade Ether the Easy Way

The investment world has changed drastically in recent years with the advent of cryptocurrencies and their increasing popularity.

Many Canadians are well aware that Bitcoin is the first and the most popular cryptocurrency today and know how to buy Bitcoin in Canada. But it is only one of the many cryptocurrencies that have become mainstream.

Ethereum is the world’s second-most valuable cryptocurrency right now. It stepped out of Bitcoin’s shadow and rose steadily over the years to become the most significant altcoin (a catch-all term for all cryptocurrencies besides Bitcoin), and it has changed the way we look at cryptocurrencies and their possible uses.

If you are diversifying your investments into other asset classes, learning how to buy Ethereum in Canada could be an excellent way for you to gain more exposure to the cryptocurrency space.

This post is my guide on how to buy Ethereum in Canada, and it will answer some important questions about investing in this altcoin that could help you determine whether it could be a suitable asset for you to consider adding to your investment portfolio.

How To Buy Ethereum In Canada

What Is Ethereum?

For the uninitiated, Ethereum is a blockchain network, a decentralized and open-source software platform that supports smart contracts. Ether is the native cryptocurrency used on the Ethereum blockchain network.

Most people refer to the cryptocurrency token as Ether and Ethereum interchangeably, and so will I in my guide.

Smart contracts on the Ethereum blockchain are self-executing agreements on the blockchain network. You can use these smart contracts to verify and record a range of transactions between individuals on the blockchain network without the need for a central authority or intermediary.

Ether itself was designed to be used within its blockchain network. However, it has become popular as a mode of payment because many companies and vendors have started accepting it for the goods and services they provide.

How To Buy Ethereum In Canada

If you have the financial flexibility to do so and are interested in getting your hands on some tokens of the world’s second-largest cryptocurrency, you have several possible options that you can consider.

From using cryptocurrency exchanges to peer-to-peer exchange, and even Ethereum ATMs, there are several methods for you to buy and sell Ether in Canada.

This section of my guide on how to buy Ethereum in Canada will discuss several possible methods you can acquire Ether as a Canadian.

1. bitbuy


bitbuy is a popular cryptocurrency exchange in Canada. The Toronto-based cryptocurrency trading platform was founded in 2016, and it caters to both new and experienced investors. If you’ve ever used an online trading platform to buy and sell investment assets before, bitbuy will be very easy for you to use.

Using the “Pro Trade” bitbuy platform gives you access to competitive fees. Transaction fees for bitbuy Pro Trade are 0.10%, but the standard bitbuy Express Trade charges you 0.20% for transactions. Deposits and transfers could cost you up to 1.50% per transaction.

2. CoinSmart


CoinSmart is another cryptocurrency trading platform available to Canadians, founded in 2018, and it caters to Canadians who want to invest in various cryptocurrencies using the Canadian dollar.

The platform also offers Over-The-Counter trading services for institutional investors and individuals who prefer large trade volumes.

You can use CoinSmart to buy and sell Ethereum, but it can cost you from 0.20% to 0.30%. Depending on the funding method you use for your account with CoinSmart, you can expect to pay from 0% to 6% in fees for deposits and withdrawals.

3. Wealthsimple Crypto


Wealthsimple Crypto is the cryptocurrency trading and investing feature of Wealthsimple, the most popular commission-free trading platform in Canada, robo-advisor, and now it includes cryptocurrency in its asset range.

Wealthsimple Crypto is a part of the Wealthsimple Trade app, a platform that lets you trade Exchange-Traded Funds in Canada, and it allows you to buy and sell different cryptocurrencies, including Ethereum.

The trading fee for cryptocurrencies on the platform is 1.5%, but deposits and withdrawals through the platform are free of charge. You can purchase Ethereum through the platform by depositing Canadian dollars to the platform and using it to buy ether tokens.

4. Satstreet

Satstreet logo

Satstreet is a Canadian Over-The-Counter cryptocurrency exchange designed to serve individual and institutional investors who want to purchase large volumes of cryptocurrencies. The platform might not be relevant to you as an individual investor looking to dabble in the cryptocurrency space.

The platform comes with a prerequisite of purchasing at least $25,000 worth of Ethereum. However, purchasing Ether tokens in large quantities through the platform offers you access to some of the lowest transaction fees in Canada.

5. Netcoins

Netcoins logo

Netcoins is a Vancouver-based cryptocurrency that you can use to buy and sell different cryptocurrencies in exchange for fiat currency like the Canadian dollar and several other currencies. The exchange lets you buy many of the major cryptocurrencies like Ether, Bitcoin, and Litecoin.

Netcoins does not charge any fees on deposits and withdrawals you make in your account with the platform in fiat currency. Cryptocurrency transactions through Netcoins are 0.5% per transaction, but you also get access to customer support during business hours through live chat, email, and phone calls.

6. Coinberry

Coinberry logo

Coinberry is another Toronto-based cryptocurrency trading platform that you can use to buy Ether and other cryptocurrencies in Canada. Founded in 2017, the platform has even partnered with the Town of Innisfil in Ontario and the City of Richmond Hill to allow paying property taxes through Bitcoin.

The trading fees for Coinberry users are based on the price spread at the time you place your order for a trade, but it typically varies between 0% and 0.25%. Unlike with many other cryptocurrency exchanges, deposits you make with cryptocurrencies are also free on the platform.

However, Coinberry does charge a fee of 0.0063 ETH when withdrawing Ether tokens.

7. Coinsquare

Coinsquare logo

Coinsquare is Canada’s largest cryptocurrency exchange, and it allows you to buy and sell several of the major altcoins like Ethereum and Litecoin, along with Bitcoin.

The cryptocurrency trading platform accepts several payment methods, the verification process through Coinshare is simple and easy, and there is a variety of cryptocurrency assets available for you to trade.

Coinsquare also offers cryptocurrency trading services like Over-The-Counter services for large-volume-trading individual investors and institutional investors. The fee for selling Ethereum and other cryptocurrencies is 0.1%, and you can expect to pay 0.2% if you are purchasing Ether through Coinsquare.

8. Coinbase

Coinbase logo

Coinbase became popular as one of the world’s first Bitcoin exchanges when it initially launched, and it is the largest Bitcoin broker today. However, the cryptocurrency broker has since expanded its offerings, and it allows you to easily purchase Bitcoin and several altcoins, including Ether.

The platform supports customers across over 30 countries worldwide, including Canada. The platform’s website has not mentioned any fees for using its service for cryptocurrency trading.

It just mentions that the fees for your orders will be calculated when you place the order and determined based on several factors, including the transaction size, market conditions, and preferred payment method.

10. NDAX Canada

NDAX Canada logo

The National Digital Asset Exchange (NDAX) is also a popular cryptocurrency trading platform that you can use to trade several altcoins and Bitcoin.

The Calgary-based cryptocurrency trading platform was founded in 2018, and it boasts several unique features that give it an edge over its competitors, including having one of the most comprehensive selections of cryptocurrencies and low trading fees.

High-volume investors and institutional investors can also use its Over-The-Counter trading services through NDAX Wealth. The trading fee for buying and selling Ether is 0.20%, and you don’t need to pay fees for depositing fiat currency in your account.

11. Binance

Binance logo

Binance is also one of the most popular cryptocurrency brokers worldwide alongside Coinbase. From Bitcoin and major altcoins like Ether and Litecoin to the more obscure altcoins that have yet to become as popular as their older peers, you can purchase pretty much any cryptocurrency tokens through the platform.

The platform operates in over 180 countries, and it even has a native cryptocurrency called Binance Coin. Canadians can also use Binance to purchase and sell Ether.

However, the cryptocurrency trading platform is banned in Ontario. Provided that you live in any other province besides Ontario, you can use the platform to trade Ether and other cryptocurrencies.

12. Peer-To-Peer Exchange logo

Peer-to-peer exchanges also make it possible for you to trade ether, and it’s an ideal method if you want to learn how to buy Ethereum in Canada with a degree of relative anonymity.

LocalEthereum is like an online marketplace where you can exchange your local currency for Ether. You can use several possible methods to purchase Ether and other cryptocurrencies from the platform. You can even purchase Ether using other altcoins or Bitcoin tokens.

The transaction time for buying and selling Ether through platforms like LocalEthereum can take anywhere from half an hour to several hours. The fees typically range from 0.25% to 0.75%, making it one of the most expensive methods to buy Ethereum in Canada.

13. Ethereum ATMs logo

Ethereum ATMs are an ideal way for you to purchase small quantities of Ether tokens in Canada. Several Ether teller machines have been placed throughout Canada, allowing you to purchase Ether tokens in exchange for Canadian dollars.

You need to have an Ethereum wallet to use an Ethereum ATM. You can check out websites like to find an Ethereum ATM near your location.

Using an Ether ATM to purchase Ethereum in Canada is as simple as scanning the QR code in your Ethereum wallet with the ATM’s camera. Beyond that, you need to enter your money into the machine and confirm the quantity of Ether tokens you want to purchase.

The Ether will directly be deposited by the Ethereum ATM in your cryptocurrency wallet within a few hours after making the transaction.

FAQs On How To Buy Ethereum In Canada

This section of my guide on how to buy Ethereum in Canada will answer some of the most frequently asked questions about purchasing Ether in Canada.

Ether is not considered a legal tender in Canada. It means that the government does not officially recognize it as a currency that you can use to exchange for goods and services. However, it is not against the law in the country to purchase and sell Ether using brokers or cryptocurrency exchanges here.

It is possible that any capital gains you realize when you trade Ether will be subject to taxes. It is better to check with the Canada Revenue Agency to understand the tax treatment and implications to make a more informed decision about investing in Ether keeping taxes in mind.

How Can I Buy ETH USD In Canada?

Suppose that you have US dollars available that you would like to exchange for Ether in Canada. In that case, you can purchase Ethereum in Canada through one of the several cryptocurrency exchanges I have listed in this guide, provided that they support transactions in US dollars.

Can I Buy Ethereum On The TSX?

Since Ether is not a legal tender in Canada, you cannot directly trade Ethereum on the Toronto Stock Exchange. However, the TSX boasts several cryptocurrency Exchange-Traded Funds that let you gain indirect exposure to different cryptocurrencies.

Is Ethereum Safe?

Cryptocurrencies are an entirely speculative asset class, and it’s possible that you can lose all the money you invest in any cryptocurrency token. Bitcoin and Ether are the most valuable cryptocurrencies, but they are notoriously volatile.

Cryptocurrency traders have become millionaires due to the high returns, but many have also lost fortunes within a few days of trading cryptocurrencies.

The risks of investing in any cryptocurrency extend beyond its intrinsic value. Your Ether is also prone to risks related to fraud, potential regulatory issues, and cyber attacks. You can choose to


Ethereum, like its cryptocurrency peers, is a highly volatile investment. If you are comfortable with the significant risk involved with owning cryptocurrencies, you have plenty of methods to purchase Ether in Canada.

Whether or not you decide to invest in the altcoin, it is good to learn how to buy Ethereum in Canada because there is every possibility that the cryptocurrency could become more commonplace in the future. For now, I still consider it a volatile asset class that risk-averse investors might prefer to keep at a distance.

Suppose that you want to gain exposure to the performance of Ether, but you would prefer to enjoy more liquidity, better security for your holdings, and would like to store the investment in a registered investment account to enjoy tax-free returns.

In that case, investing in Ethereum ETFs could be a viable option for you to consider. Check out my list of the best Ethereum ETFs in Canada to see the different options available to you.

Photo of author
Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Read about how he quit his 6-figure salary career to travel the world here.

Check Out These Posts:

1 thought on “How To Buy Ethereum In Canada 2024: Trade Ether the Easy Way”

Leave a Comment