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How To Buy Ethereum In Canada (May 2024): $50 Bonus


Fact Checked

Ethereum is an open-source blockchain platform powered by its own cryptocurrency – Ether.

Ether is the second most popular cryptocurrency, following Bitcoin. Combined with its blockchain, it has found several practical uses in payment technology, investing, gaming, crowdfunding, and more.

Read on to learn about Ethereum, how to invest and buy Ether in Canada, and whether it is safe.

Related: How To Trade Bitcoin in Canada.

How To Buy Ethereum (Ether) in Canada

It has become easier to buy and sell Ethereum in Canada compared to a few years ago.

After creating an account on a cryptocurrency exchange, fund it with Canadian dollars or whatever fiat currency is accepted, and you can start trading Ethereum.

The top cryptocurrency platforms for buying Ethereum are:

1. Bitbuy

Bitbuy is a digital currency exchange based in Toronto. It is one of the first digital currency platforms to be registered with the OSC.

Coins offered: Ethereum, Bitcoin, Bitcoin Cash, Litecoin, Stellar, Aave, EOS, and several others.

Account funding: Interac e-Transfer, crypto and bank wire.

Trading fees: Up to 2%; free fiat deposits, and 1.50% fee on withdrawals.

Promotion: $50 bonus when your initial deposit is $250 or more.

Bitbuy Crypto Exchange


Get a $50 bonus if your initial deposit exceeds $250

Trade approx. 40 coins

Great for new & advanced traders

0% to 2% trading fee

2. Wealthsimple Crypto

Wealthsimple Crypto is offered by Canada’s largest online wealth manager. Its cryptocurrency trading app is hosted on the same platform you can use to buy and sell stocks and ETFs.

Coins offered: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Compound, Uniswap, Curve, Aave, Yearn.Finance, Synthetix, and several others.

Account funding: Electronic Funds Transfer (ETF) and crypto deposits (BTC and ETH only).

Trading fee: 1.5%-2%; deposits and withdrawals are free.

Promotion: $25 bonus when you fund with $150 or more.

Wealthsimple Crypto

wealthsimple logo

Trade several cryptocurrencies

Excellent trading platform

1.5% to 2% trading fee

Get a $25 bonus when you deposit $200+

3. Netcoins

Netcoins is a Canadian cryptocurrency trading platform established in 2014. It is owned by BIGG Digital Assets, a public company traded on the CSE.

Coins offered: Bitcoin, Ethereum, Tether, Bitcoin Cash, Litecoin, USDC, Stellar, XRP, and more.

Account funding: Online bill payment, Interac e-Transfer, and bank wire.

Trading fees: 0.50%; deposits and withdrawals are free.

Promotion: Get a $25 bonus when you trade cryptocurrency worth at least $100.


netcoins logo

Trade several popular coins

Excellent crypto broker for newbies

Charges trading fees + undisclosed spread in prices

4. VirgoCX

The VirgoCX crypto brokerage platform offers instant buys of several coins. It is also based in Canada.

Coins offered: Ethereum, Bitcoin, Dogecoin, Litecoin, Tether, Cardano, Stellar, Polkadot, XRP, EOS, Uniswap, Compound, and over 60 others.

Account funding: Interac e-Transfer, wire transfer, bank draft, and cryptocurrency.

Trading fee: 0.50% to 2.50%, depending on the coin; deposits and withdrawals are free.

Promotion: $20 bonus when you open an account and fund it with at least $100.


virgocx logo

Get a $20 bonus when you deposit $100

Great crypto broker for newbies

0.50% to 2.50% trading fee

Trade several popular coins

5. CoinSmart

CoinSmart is a Canadian cryptocurrency exchange based in Toronto. It is traded on the NEO Exchange under the ticker SMRT.

Coins offered: 16+ types, including Ethereum, Bitcoin, Litecoin, Cardano, Stellar, Ripple, Polkadot, Uniswap, Bitcoin Cash, EOS, and more.

Account funding: Bank wire, bank draft, Interac e-Transfer, credit card, debit card, SEPA, and cryptocurrencies.

Trading fee: 0.20%; offers free deposit options.

CoinSmart is now part of WonderFi and the platform is not accepting new signups. If you’re looking for the best crypto experience in Canada, we recommend signing up to Bitbuy, another licensed Canadian cryptocurrency trading platform operated by the same parent company, WonderFi. With Bitbuy, you will get access to an improved experience on web and mobile, staking rewards, Private Wealth services, and an advanced trading interface.  


To choose the best crypto apps in Canada, Savvy New Canadians assesses cryptocurrency exchanges and apps based on their coin offerings, trading and transaction fees, ease of use, access to advanced trading tools, user interface, company reputation, security measures, funding options, and other features. While these crypto trading platforms are some of the top ones on the market, they may not be right for you. Visit the company’s websites using the links to read their current terms and conditions before applying.

Best Ethereum Trading Apps in Canada

PlatformCoins offeredLearn More
BitbuyBitbuyGet Started
Wealthsimple Crypto50+ typesGet Started
Netcoins30+ typesGet Started
VirgoCX60+ TypesGet Started

What is Ethereum?

Ethereum was introduced by Vitalik Buterin in 2013 alongside several other developers. It uses blockchain technology similar to Bitcoin and can be extended to run decentralized applications (dapps).

By using ‘smart contracts,’ intermediaries can be excluded from financial and other transactions, resulting in increased privacy and lower transaction fees.

Ether is the native digital currency that powers the Ethereum ecosystem.

In addition to Ether, the Ethereum network supports hundreds of other tokens, known as stablecoins. Examples include Dai, USDC, and Tether USDT.

Ether is traded under the symbol ETH, and there is currently no limit to the number of Ether that can be issued.

Benefits of Ethereum include:

  • A decentralized financial system that is accessible anywhere in the world.
  • Peer-to-peer payment network without intermediaries.
  • The flexible blockchain accommodates the creation of other tokens, blockchain projects, and more.

Ethereum (Ether) is not a legal tender in Canada. That said, it is not against the law to buy and sell Ethereum using a cryptocurrency exchange or broker.

The capital gains you realize when you trade Ethereum for a profit may be subject to taxes.

You should check with the Canada Revenue Agency or read the guides they have provided to show the tax treatment of cryptocurrency for tax purposes.

Is Ethereum Safe?

Cryptocurrencies are speculative investments, and you can lose all the funds you invest.

Bitcoin and Ether are no different. Both coins have minted millionaires, and many have also lost money trading both currencies.

The risk of trading digital currencies extends beyond their intrinsic value. There are also risks related to price volatility, cyber-attacks, fraud, and regulation or the lack thereof.

You can reduce your risk of loss due to cyber-attacks by withdrawing your Ethereum to an offline wallet and encrypting online backups.

The various types of wallets used for Ethereum storage include:

  • Hardware wallets
  • Desktop wallets
  • Web wallets
  • Mobile wallets
  • Paper wallets

Bitcoin vs. Ethereum: Is Ethereum a Good Investment?

One of the top questions people are asking about Ethereum right now is whether it is the next Bitcoin. Is Ethereum going to reach $10,000, $50,000, or higher?

My best guess is that no one knows. It could go up significantly in price, and it could also potentially crash to $0.

You should only invest money you can afford to lose in any cryptocurrency.

In my opinion, that means you should not invest your retirement savings, emergency fund, or money you need for day-to-day expenses.

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. The author may own one or more of the crypto assets mentioned in this article.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Top registered and regulated crypto trading platform for Canadians.

$50 instant cash reward when your initial deposit is at least $250 or more.

Access over 45 popular coins and altcoins and staking to earn interest.

Competitive low trading fees for crypto and free deposits.

Get access to advanced trading tools.

Access nearly 80 crypto assets with one-click trading + $20 bonus

Instant deposit with e-Transfer and supports CAD and USD.

$20 bonus when you verify your account and deposit at least $100.

Offers over 80 crypto assets.

0.50% to 2% trading fees; free fiat deposits and withdrawals.


Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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