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How to buy Bitcoin (BTC) in Canada
Learn how to buy Bitcoin in Canada with a range of payment methods and find out how to get the lowest fees in this step-by-step guide.
The original cryptocurrency, Bitcoin (BTC) is arguably the best-performing asset of all time. And with Bitcoin’s price occasionally reaching over $100,000, many Canadians will naturally be wondering what there options are for how to buy Bitcoin in Canada.
Thankfully, it’s possible to buy a portion of a Bitcoin and get started investing in this popular coin for as little as a few dollars.
In Canada, you can buy Bitcoin through crypto exchanges, stock trading platforms, crypto wallets, ETFs and more. In this guide, we break down how to buy Bitcoin in Canada using payment methods like bank transfers, debit cards, credit cards and cash.
How to buy Bitcoin in Canada in 4 steps
The following steps are for Canadian residents and should work with most cryptocurrency exchanges, investing apps and brokers.
- Choose a payment method
For beginner crypto buyers, fees and available payment methods are often top considerations when buying Bitcoin. It’s usually cheap (sometimes free) to pay by bank deposit, while debit and credit card payments can get costly. - Choose a platform and open an account
Once you’ve selected a trading platform that supports your preferred payment method, provide basic personal information and photo ID (like a valid driver’s license or passport) to create an account. You might be required to take a selfie to prove your identity in accordance with Canadian law. - Buy Bitcoin
The spot market is where you can buy Bitcoin in CAD (or other fiat currencies), but the investment interface can take some getting used to if you’re new to crypto. Alternatively, you can buy Bitcoin directly through your platform, but the fees may be higher. - Transfer your Bitcoin to a crypto wallet
Crypto exchanges are at risk of being hacked or financially mismanaged, so it could be unwise to leave your crypto on the platform on which you bought it. Instead, consider transferring your Bitcoin to a cryptocurrency wallet that you independently own and manage.
Our picks for the best exchange platforms to buy Bitcoin
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
Bitcoin’s price now
Bitcoin market update for May 2025
"Bitcoin has rallied past the US$100,000 mark fuelled by institutional flows and a social media post by President Trump."
What are the best ways to buy Bitcoin in Canada?
The easiest way for a beginner to buy Bitcoin is usually through a crypto exchange. The best Bitcoin trading platform for you depends on your preferred payment methods and investment goals.
Buy Bitcoin with a bank account
Many exchanges support free and instant bank transfers in Canada. Some offer other options like wire transfers, but check if there’s a deposit fee first.
Buy Bitcoin with a debit card
Some exchanges let you use a debit card for multiple types of Bitcoin transactions. Others only let you use a debit card to make instant purchases, which often comes with higher fees than spot market purchases.
Buy Bitcoin with a credit card
Many crypto exchanges in Canada accept credit cards as an instant purchase method. But you should think very carefully before buying Bitcoin with a credit card, because:
- Credit card fees are higher than using bank transfers.
- Some card issuers may block cryptocurrency transactions.
- Your purchasing options will be limited and more expensive.
- You may end up losing your initial investment and being charged fees and interest by your credit card provider.
Buy Bitcoin with cash
It’s not common to buy Bitcoin with cash in Canada, but it can still be done. There are a few ways to buy BTC with cash:
- Bitcoin ATMs. Purchase BTC with cash using a dedicated Bitcoin ATM. These can be found in many major Canadian cities. You’ll need to provide photo ID and pass a Know Your Customer (KYC) check.
- Peer-to-peer (P2P). Use a P2P platform to find someone who will sell you their BTC directly in exchange for cash. Beware that there’s a high risk of fraud when you attempt to settle a transaction in-person or without an escrow service. Look for an established and reputable platform that offers an escrow service and online trading capabilities.
Buy Bitcoin with another cryptocurrency
On some platforms, you can swap any cryptocurrency you already own for BTC using the “swap” or “convert” service. This lets you instantly exchange cryptocurrencies even if there’s no trading pair on the spot market.
Can I buy Bitcoin in Canada with PayPal?
No, unfortunately you cannot buy Bitcoin directly with a Canadian PayPal account. To buy BTC with PayPal in Canada, you will need to sign up with an exchange platform that accepts PayPal as a payment method to fund your account, and then use your account funds to purchase Bitcoin.
Where to buy Bitcoin in Canada
In Canada, you typically buy Bitcoin (BTC) on a cryptocurrency exchange, an online platform that facilitates trading crypto.
You can also buy Bitcoin through online investment platforms, which sell crypto alongside traditional investments like stocks and ETFs. Stock trading platforms often offer fewer coins and tokens than dedicated crypto exchanges.
The majority of cryptocurrency exchanges and stock trading platforms can be accessed online or via mobile app, making it easy to buy and sell Bitcoin almost anytime, anywhere.
Other ways to buy Bitcoin in Canada include Bitcoin ATMs (located in many major Canadian cities) and peer-to-peer (P2P) marketplaces. However, these options aren’t as common and may not be very accessible for beginners.
How to buy Bitcoin from a crypto exchange
Buying BTC on a crypto exchange is the most common way to invest in Bitcoin.
Exchanges such as Kraken, Bitbuy and Coinbase are widely used crypto exchanges. You can also buy other cryptocurrencies if you want to expand your portfolio beyond BTC.
Most Canadian exchanges let you buy Bitcoin instantly using funds deposited from a bank account. Some also let you buy BTC with debit card or credit card, although the fees may be higher.
Crypto exchanges: What to consider
- Pro: Provides a straightforward and affordable way to buy and sell BTC regardless of your experience.
- Cons: If the exchange has any issues, your BTC may not be safe. You may want to transfer it to a private crypto wallet instead.
Buy Bitcoin from an online investment platform
Online stock trading platforms like Wealthsimple let you manage various traditional investments like stocks, ETFs and commodities. Some also let you buy Bitcoin and other popular cryptocurrencies.
One of the major differences between crypto trading platforms and traditional investment platforms is that the latter may not allow you to withdraw Bitcoin to a private crypto wallet. Additionally, you may only get access to a limited range of cryptocurrencies.
Dive deeper: Online stock trading
Online investment platforms: What to consider
- Pro: Buying a Bitcoin ETF reduces the complexity of buying Bitcoin and storing it safely.
- Con: Owning an ETF doesn’t give you access to the actual Bitcoin; you can’t withdraw it from the platform into your own wallet.
Buy Bitcoin from a crypto wallet
Cryptocurrency wallets are specialized software applications or physical devices designed for managing and safeguarding cryptocurrencies. Many wallets let you use credit or debit to purchase Bitcoin and other cryptocurrencies through a third party.
Hardware wallets provide a secure and private way to hold your Bitcoin personally, rather than entrusting it to a third-party exchange or platform.
The Bitcoin blockchain is more secure than exchanges and has never been hacked, but your security ultimately depends on you. You’re responsible for managing your private key or seed phrase, which, if lost, could result in lost funds.
Crypto wallets: What to consider
- Pro: You have total control over your investment, as it’s secured by an encrypted wallet rather than a third party like an exchange.
- Con: Learning to use a crypto wallet requires time and effort. Transactions are irreversible, and human error could put your funds at risk.
Buy Bitcoin from a Bitcoin ATM in Canada
Buying Bitcoin using an ATM is a way to purchase the digital currency at a physical location. The process typically involves using cash or a debit card to purchase Bitcoin, which is then transferred to a digital wallet. You must set up a wallet before using a Bitcoin ATM.
Fees are often much higher than purchasing Bitcoin via an online exchange, and Bitcoin ATMs are only available in major Canadian cities. Additionally, inputting a long, alphanumeric Bitcoin address into an ATM can be clunky.
Bitcoin ATM: What to consider
- Pro: Provides a way to buy Bitcoin in Canada using cash or a card.
- Con: Can be more time consuming and expensive than using an online exchange.
Buy Bitcoin from a P2P marketplace
A P2P crypto marketplace is a platform that allows individuals to buy and sell cryptocurrencies directly with one another by making offers (a bit like eBay).
P2P marketplaces typically support a wide range of fiat currencies, including CAD. Low or no fees are common for P2P trades. Since order prices are fixed, you can potentially find Bitcoin below market value.
Purchasing Bitcoin through P2P exchanges regularly can be challenging, as it might be hard to consistently find a seller willing to sell you the exact amount you want each time.
P2P marketplace: What to consider
- Pro: Interact directly with Bitcoin sellers, and choose from many payment options.
- Con: You’re limited to the amount of Bitcoin others are willing to sell.
Compare exchanges to buy Bitcoin in Canada
Compare cryptocurrency exchanges and trading platforms to buy Bitcoin in Canada. Select Go to site to get started.
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Finder Score for crypto exchanges
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
Bitcoin ETFs
You can now invest in Bitcoin through exchange traded funds (ETFs). Bitcoin ETFs can be managed as part of your traditional stock or ETF portfolio.
An ETF is a simplified way of investing in assets like gold, silver and oil without having to physically store the product. Similarly, Bitcoin ETFs eliminate the need for you to learn how to safely store and manage Bitcoin yourself, which can be complicated for some.
Our expert says
"Buying a spot Bitcoin ETF is a really convenient way to invest in Bitcoin for anyone who just wants to speculate on the price and not worry about safe storage. The ETF issuer manages it all on your behalf, so you don’t need to learn how to use a Bitcoin wallet or manage private keys."
What’s the cheapest way to buy Bitcoin in Canada?
First things first—you don’t have to buy a whole Bitcoin. Most exchanges let you buy as little as $5 worth of BTC, if not less. Just enter how much you want to spend in Canadian dollars, and let the exchange work out the rest.
Not all platforms offer more than one way to buy Bitcoin, but the two most common types of transaction take place on the spot market or via your platform’s “instant buy” feature.
Where could Bitcoin's price be heading?
Bitcoin's price is expected to rise to US$87,125 by year-end 2025, according to the average prediction from Finder's panel of fintech specialists. Panelists also predict that BTC will hit US$220,708 by 2030.
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What to look for when buying Bitcoin in Canada
Consider the following factors when comparing crypto exchanges to buy Bitcoin with Canadian dollars.
After you’ve bought Bitcoin
Once you own BTC, you have 2 options—hold it on an exchange or move it to a personal wallet. Each comes with pros and cons.
Expert insight: Bitcoin as a serious investment
"Bitcoin’s recent all-time high highlights the continued optimism surrounding Bitcoin and its potential for sustainable growth in both traditional and emerging markets.
Looking ahead, the crypto market remains optimistic, as Bitcoin’s role in diversified portfolios continues to expand and gain further acceptance."
Dive deeper: Binance alternatives in Canada
Is Bitcoin safe to invest in?
All investments comes with risk. Before you buy Bitcoin, make sure you understand these risks.
- Price volatility. Bitcoin’s price is largely based on speculation, meaning it can rise and fall quickly. It’s common for Bitcoin to move by 5% or more in a single day.
- Exchange vulnerabilities. Leaving your Bitcoin on a crypto platform exposes you to several counterparty risks, including scams, hacks, theft and poor fiscal mismanagement, as we saw with FTX’s bankruptcy in 2022. To reduce this risk, it’s best to keep your Bitcoin in a non-custodial wallet.
- Regulatory uncertainty. Crypto regulations regularly change. Owning and trading Bitcoin isn’t legal everywhere. Even in countries where crypto is legal, some jurisdictions may not permit trading. For example, only a few crypto companies are allowed to operate in New York.
- Novel technology. Bitcoin was created in 2009, making it a relatively new form of technology and currency. Bitcoin doesn’t yet have the same performance history as some other asset classes.
- Technological learning curve. If you plan to invest in Bitcoin and personally manage the asset’s custody, you’ll have to learn how to use a non-custodial crypto wallet.
- Wallet vulnerabilities. The Bitcoin network is nearly impossible to hack, but the hardware and software used to manage your funds—known as wallets—can still be vulnerable. We researched BTC wallets and shared the ones we think are the best.
- Transactions can’t be reversed. Once you’ve submitted a transaction to the Bitcoin network, it can’t be cancelled or reversed. Double-check the receiving address before sending Bitcoin or moving it off an exchange. One good way to do this is to check the first and last four digits of the receiving wallet address before triggering the transaction. There’s no way to refund BTC sent to the wrong address.
Are Canadians planning to invest in Bitcoin?
We asked Canadians in our Finder: Consumer Sentiment Survey January 2025 what the top 3 most appealing types of investments are in 2025, and 1 in 5 Canadians said that cryptocurrencies, like Bitcoin, are promising investment vehicles.
Interestingly, other types of cryptocurrency investments, like meme coins and crypto ETFs, were much less popular with only approximately 1 in 20 Canadians finding each of those crypto investment options appealing.
Bottom line
If you want to buy Bitcoin in Canada, compare crypto brokers and exchanges, looking at features, fees, security and overall reputation to decide which platform is right for you.
Keeping your BTC on an exchange can be easier than choosing and managing a personal wallet, but a wallet gives you more control over your assets. It’s risky to buy Bitcoin, so talk to a financial advisor about how crypto fits into your goals and overall investment strategy.
FAQs about how to buy Bitcoin in Canada
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Sources
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