Buying bitcoin in Toronto doesn’t need to be hard. Here at Coin Companion, we’ve done all the hard work for you. You can find our reviews of Canada’s best exchanges, as well as our favourite cryptocurrency wallets.
We’ll guide you through every step of the way, so you can buy bitcoin and other cryptocurrencies without the stress. Our helpful guides make it super simple to purchase crypto from the exchange that’s best for you, and then store it securely.
Simply choose from our favourite exchanges below, sign up and follow the steps to buy your first bitcoin.
Bitbuy is a Canadian cryptocurrency Exchange focused on great customer support and great options for trading. With reasonable fees compared to other exchanges, Bitbuy is a solid choice of an exchange to use.
|Deposit methods:||CryptocurrencyInterac e-TransferWire transfer|
|Deposit fees:||Interac e-Transfer: 1.5%Wire transfer: 0.5%Cryptocurrency: None|
|Withdrawal fees||Interac e-Transfer: 1.5%Wire transfer: 1.5%Cryptocurrency: Fees vary|
|Trading fees||Express: 0.5%Pro: Maker 0.1%, Taker 0.2%|
|Pros||Fast deposits and withdrawals, good rates, and strong security features|
|Cons||Only supports major cryptocurrencies|
Coinberry is one of Canada’s largest Cryptocurrency exchanges for Canadians to buy, sell and trade crypto on. Founded in 2017, Coinberry makes it easy for Canadians to deposit fiat and trade fiat into crypto.
|Deposit methods:||Credit cardDebit cardInterac e-TransferWire transfer|
|Pros||No Fees, fast purchases, FINTRAC registered and PIPEDA compliant|
|Cons||Limited cryptocurrencies, spreads can be high.|
NDAX was launched in June 2018 as a Canadian Exchange based in Calgary. With many regulatory registrations, NDAX exchange does their best to protect user funds and also offer the best trading experience for anyone on the platform.
|Deposit methods:||CryptocurrencyInterac e-TransferWire transferBank Draft|
|Withdrawal fees||Fees vary|
|Trading fees||Maker: 0%Taker: 0.2%|
|Cons||Only supports the major cryptocurrencies|
MyBTC is a Canadian platform that makes it easy for users to buy bitcoin in a matter of seconds.
Read our full review here.
|Deposit methods:||FlexepinInterac e-TransferBank WireCredit or Debit CardCash or Debit at Canada Post|
|Deposit fees:||Bank Wire: 4.75%Credit Card: ~9.75%Flexepin: 7.75% or $10 minimum, whichever is greaterCash or Debit: 7.75% or $10 minimum, whichever is greaterInterac e-Transfer: 7.75% or $10 minimum, whichever is greater|
|Pros||Easy way to buy bitcoin, simple fees, fast purchases|
|Cons||Only supports BTC, no trading options|
Frequently Asked Questions
Is bitcoin legal in Canada?
Yes, bitcoin is legal in Canada. While digital currencies, such as Bitcoin or other cryptocurrencies, are not legal tender in Canada, it is legal to buy bitcoin. Only the Canadian dollar is considered official currency in Canada.
How do you buy bitcoin in Canada?
You can buy bitcoin in Canada from a number of local and international exchanges. You can find our guides on how to buy bitcoin here.
Do you pay tax on bitcoin in Canada?
Cryptocurrency is taxed in Canada as either capital gains or as income tax. 100% of business income is taxable, whereas only 50% of capital gains are taxable.
What is the best bitcoin wallet in Canada?
For security purposes, the best wallets are typically hardware wallets. For ease of use, software, or exchange based wallets are often the best choice. You can read more about the best bitcoin wallets here.