I cover how to buy Bitcoin Cash (BCH) in Canada, the cryptocurrency exchanges offering BCH trading, and the best Bitcoin Cash wallets you can use to store the coin.
As of this writing, Bitcoin Cash was trading at $366 CAD and ranked as the 28th largest cryptocurrency by market capitalization.
Over the last year, it has seen several highs and lows, but nothing close to the $4,355.62 USD all-time-high price it reached in 2017.
What is Bitcoin Cash?
Bitcoin Cash was created in 2017 after a hard fork from Bitcoin that was supposed to solve some of Bitcoin’s problems with scalability, including network speed.
Bitcoin Cash has a larger block size (32MB) versus a 1 MB block size for Bitcoin. As such, Bitcoin Cash can process transactions much faster and is cheaper for payments.
While Bitcoin Cash has lower transaction fees, it hasn’t seen as much success as the original cryptocurrency, Bitcoin.
In 2018, Bitcoin Cash also went through a hard fork, resulting in Bitcoin Satoshi Vision or Bitcoin SV.
Bitcoin, Bitcoin Cash, and Bitcoin SV use the Proof of Work (PoW) consensus mechanism.
Learn more about Bitcoin Cash and how it works.
How To Buy Bitcoin Cash in Canada
You can buy Bitcoin Cash in Canada using one of these methods:
Cryptocurrency Exchange: A digital asset exchange allows users to trade various cryptocurrencies including BCH, Ethereum, Dogecoin, and others. They often accept various funding methods including direct bank transfer, crypto deposits, and credit cards.
Examples of crypto exchanges offering Bitcoin Cash in Canada include CoinSmart, NDAX, Binance, and Bitbuy.
Cryptocurrency Broker: These crypto trading platforms are great for beginners looking to invest in Bitcoin Cash. They are user-friendly and offer quick trades with 1-2 clicks.
Fees on cryptocurrency brokerages may be higher and some limit your ability to move your coins into a personal cold wallet.
Examples of crypto-brokers offering Bitcoin Cash in Canada are Wealthsimple Crypto, Newton, and Netcoins.
Crypto ATMs: You can buy Bitcoin Cash at some crypto ATMs in Canada.
Mining: If you are tech-savvy and have the right equipment, you could help solve the complex math problems required to verify BCH transactions. In return, you earn Bitcoin Cash.
After opening an account to buy Bitcoin Cash and verifying your identity, you need to fund it with fiat or crypto.
Best Places To Buy Bitcoin Cash in Canada
Below are some of the sites offering Bitcoin Cash (BCH) trading.
CoinSmart is a Canadian cryptocurrency exchange based in Toronto. It was founded in 2018 and offers a variety of digital assets including Bitcoin Cash, Ethereum, Bitcoin, Litecoin, Ripple, Tether, Solana, Polygon, and several others.
This platform also operates in the U.S. and Estonia.
Funding methods: Interac e-Transfer, bank wire, bank draft, and credit cards.
Fees: 0.20% trading fee for CAD-crypto trades; 0.30% for double trades (i.e. crypto-crypto trades not including Bitcoin), 1% fee for fiat withdrawals, 0% fee on bank wire and draft deposits; variable fees for Interac deposits and crypto withdrawals.
Promotion: Get a $30 bonus when you deposit $100 or more in your new account.
2. Wealthsimple Crypto
Wealthsimple Crypto is a registered crypto trading platform offered by Wealthsimple Digital Assets Inc.
You can use it to buy and sell Bitcoin Cash and 32 other coins including the likes of Uniswap, Compound, Balancer, Fantom, and Uma.
Funding method: Electronic Fund Transfer (for both deposits and withdrawals). You can’t deposit or withdraw crypto.
Fees: There are no fees to deposit or withdraw fiat. A 1.5-2% price spread applies to buy and sell transactions.
Promotion: Get a $50 bonus when you trade at least $150 worth of crypto.
Netcoins is a cryptocurrency broker owned by BIGG Digital Assets, a company traded on the Canadian Securities Exchange (CSE).
It supports Bitcoin Cash and five other cryptocurrencies.
Funding methods: Online bill payment, bank wire, Interac e-Transfer, and crypto deposits.
Fees: There are no fees to deposit or withdraw CAD fiat; a 0.50% trading fee applies to buy and sell transactions.
Promotion: Get a $10 bonus when you trade $100 worth of cryptocurrency.
Trading Platforms for Bitcoin Cash
$30 sign up bonus
$50 sign up bonus
$10 sign up bonus
Great for advanced traders and newbies
Top crypto platform for beginners
Good for beginners
Offers 16 coins
Offers 34 coins
Offers 7 coins
Bitbuy was founded in 2016 and was one of the first cryptocurrency exchanges to offer Bitcoin Cash in Canada. In addition to BCH, it also supports Ethereum, Bitcoin, Chainlink, Aave, and four others.
Funding methods: Interac e-Transfer, bank wire, and crypto deposits.
Fees: Trading fees on Bitbuy range from 0.10% – 0.20%. Interac e-Transfer deposits and withdrawals cost 1.50%, and you pay up to a 1% fee when using bank wire. Crypto withdraws fees vary.
Promotion: Get a $20 bonus when you make an initial deposit of at least $250.
This Bitbuy review has more details about how it works.
This cryptocurrency brokerage was established in 2018. It offers Bitcoin Cash trading and 44 other cryptocurrencies.
Funding methods: You can fund your Newton account using Interac e-Transfer, EFT, bank wire, and crypto.
Fees: Trading fees range from 0.50% to 0.70%. There are no fees to deposit or withdraw fiat.
Promotion: Get a $25 bonus when you buy or sell $100 worth of crypto. You can use the link or referral code (S1W78J) to claim this offer.
Learn more about Newton in this review.
Coinberry is a Toronto-based cryptocurrency brokerage platform. It supports Bitcoin Cash, Bitcoin, and 17 other coins and tokens.
Funding methods: Bank wire and Interac e-Transfers are supported.
Fees: Trading fees on Coinberry are up to 2.5%. Fiat deposits and withdrawals are free.
Promotion: Get a $40 bonus when you trade at least $50 worth of crypto.
Binance is the world’s largest cryptocurrency exchange. It supports more than 300 tokens including Bitcoin Cash and its own native token, Binance Coin (BNB).
Funding methods: You can fund your Binance account using bank transfer, credit card, debit card, SEPA, P2P payments, crypto deposits, and more.
Fees: Trading fees vary with your membership tier and are up to 0.10%.
Promotion: Get 25% off your trading commissions when you pay using BNB.
Learn more about Binance. Note that Binance is not available to Ontario residents.
How To Sell Bitcoin Cash in Canada
It is easy to sell Bitcoin Cash when you have a cryptocurrency trading account. Simply log into your account and place a sell order.
When the transaction is completed, you can withdraw the cash proceeds into your bank account or leave it in your fiat wallet for future crypto purchases.
How To Store Bitcoin Cash
Bitcoin Cash can be stored using a hot wallet (online wallet) or cold wallet (hardware wallet). There are also various mobile or software wallets available for free from various providers.
Lastly, you can use a paper wallet after printing off your private and public keys.
Cold wallets are considered to be safer than hot wallets linked to the internet.
Examples of cold wallets for Bitcoin Cash include Ledger and Trezor.
Is Bitcoin Cash a Good Investment?
There are no guarantees that Bitcoin Cash will continue to appreciate in price or value in the future.
As with all other cryptocurrencies, Bitcoin Cash is a speculative investment and you should only invest funds you can afford to lose.
With regards to its performance in the last 1 year, the price of Bitcoin Cash has ranged from a low of $180.50 to as high as $1,635.15 (USD).
Bitcoin Cash FAQs
Is it better to buy Bitcoin or Bitcoin Cash?
Bitcoin is still considered to be the most valuable cryptocurrency and it has performed better than Bitcoin Cash so far. Both can be useful to have in a portfolio. Here’s how to buy Bitcoin in Canada.
What is the cheapest way to buy Bitcoin Cash in Canada?
From the Canadian cryptocurrency exchange options listed above, CoinSmart and Bitbuy have the lowest trading fees.
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose.