Kraken
With a market cap of $1,151,485,638.00 USD, Ethereum Classic ranks as the 63rd largest cryptocurrency by market capitalization in the world. It operates on the Ethereum blockchain network. It is currently trading at a price of $7.35 USD per coin and trades using the cryptocurrency code ETC.
Ethereum Classic is a highly volatile asset capable of major price swings in a single day. So before you buy Ethereum Classic, make sure you understand these unique risks as well as its tax and legal status in Canada.
If you want to buy Ethereum Classic in Canada or track its performance, keep reading to see the latest ETC price, market cap and trading volume along with a step-by-step guide on how to invest in ETC crypto in Canada.
| Current price | $7.35 |
|---|---|
| All-time high | $2,016.00 |
| All-time low | $0.00 |
| 1-year price change | ▼ -13.51% |
| Market cap | $1.15B |
| Market cap rank | #63 |
| Total volume (24h) | $32.65M |
| Circulating supply | 156,559,602 |
| Max supply | 210,700,000 |
| Network | Ethereum |
| Where to buy ETC | Buy on Kraken |
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.
The whole process of buying ETC can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy Ethereum Classic in Canada:
The easiest way to buy Ethereum Classic is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.
To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.
Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.
You can now exchange your funds for Ethereum Classic. On beginner-friendly exchanges, this is as simple as searching for the coin name (Ethereum Classic) or its crypto code (ETC), entering the CAD or ETC amount you want to purchase and clicking "Buy."
Consider transferring your ETC to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.
We've curated a list of legitimate crypto exchanges below where you can buy Ethereum Classic in Canada to help you compare deposit methods, supported fiat currencies and fees.
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.
The recent Ethereum Classic (ETC) price is $7.35 USD per coin, which is -95.59% lower than the previous day's trading price of $166.84 USD. Over the past 30 days, ETC's price has changed by -1.78%, from $7.48 USD to the current price of $7.35 USD. Compared to this time last year, Ethereum Classic's price has seen a decrease of -13.51% to its value as a cryptocurrency.
Yes, you can buy Ethereum Classic in Canada. Simply open an account with a crypto exchange that operates in Canada and supports Ethereum Classic—like the ones in our curated list above—and place a "buy" order. For example, Kraken supports Ethereum Classic and is a registered crypto exchange in Canada.
Because Ethereum Classic is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.
Ethereum Classic is the original Ethereum blockchain. It's an open-source, peer-to-peer platform where developers can implement dapps and smart contracts.
Smart contracts are decentralised applications (dapps) that are made to run exactly as programmed without downtime or third-party interference, and Ethereum's popularity has seen it become one of the world's largest digital currencies. In June 2016, the decentralised autonomous organisation (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than US$50 million was stolen. However, the Ethereum community was split on how to respond to the attack. Some wished to modify the code and return the ETH to its original owners – however, this goes against the core principle of blockchain immutability. The majority of the community favoured code modification, so Ethereum underwent a hard fork to revert the hack. However, a smaller section of the community decided to keep the main code exactly as it was, with this currency coming to be known as Ethereum Classic.
Ethereum Classic's native token (ETC) is used to fuel transactions on the network and is responsible for governance.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.
If you want to buy Ethereum Classic with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying Ethereum Classic with a credit card, you should be aware of the additional cost and risks involved.
For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.
For example, if you were to use a credit card to buy Ethereum Classic, you could end up paying this:
If it took you three months to pay off your Ethereum Classic purchase at a credit card interest rate of 19.99% APR, you would pay an additional $1.89 USD in interest on top of what you originally paid to buy Ethereum Classic.
This example can help you compare the relative cost of buying Ethereum Classic with a credit card versus other lower‑fee methods like Interac e-Transfers.
You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying Ethereum Classic, or visit our guide on buying crypto with a credit card for more details.
Yes, it is possible to buy Ethereum Classic with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.
To buy Ethereum Classic with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.
Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.
Before deciding whether or not to invest in ETC, it is vital you understand a few of the factors that may influence the price of the coin:
However, Ethereum Classic maintains a proof-of-work consensus mechanism, which works much like mining bitcoin. This means you cannot stake your ETC for additional rewards and that the cryptocurrency places a higher strain on the environment than alternatives.
Ethereum Classic exists in a very tight market space, much of which is already taken up by its sibling, Ethereum (ETH). If you do decide to purchase ETC, it is imperative you understand how it differs from Ethereum.
Otherwise, it would likely make more sense to invest in Ethereum due to its much higher use-case, adoption and market cap.
In the month of August 2020 alone, the network encountered three separate 51% attacks which resulted in hackers making away with millions worth of ETC. A number of exchanges reacted by removing Ethereum Classic from their platforms.
There are two main options for storing Ethereum Classic once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.
While it can be more convenient to leave your Ethereum Classic on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.
It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.
Like all crypto, Ethereum Classic is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.
Money you get from selling Ethereum Classic can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual Ethereum Classic buyer than if your crypto profits are classified as business income.
You can learn more about how crypto taxes work in our guide to crypto tax in Canada.
Keep in mind that buying Ethereum Classic can be risky. But if you decide to invest in Ethereum Classic, look for a regulated crypto exchange in Canada that supports ETC, and make sure to store your crypto securely.
Once you've bought Ethereum Classic, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on Ethereum Classic's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.
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.
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