How to Buy Ethereum (ETH) in Canada

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Buy Ethereum Canada

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Buying and selling digital assets like Bitcoin and Ethereum all require similar processes, security, and personal responsibility to best secure your cryptocurrency. Convert ETH to CAD.

How to Buy Ethereum in Canada

  1. Set up a Canadian crypto exchange account
  2. Set up an Ethereum wallet
  3. Buy & send Ethereum from exchange to your wallet
Platform ETH Spread/Fee CAD Deposit Fee ETH Withdrawal
Shakepay ~0.5% - 2.0% Free (Interac) Free (Normal) / Network fee (Fast)
Newton ~1.0% - 1.15% Free (Interac) Free Lane (nightly)
NDAX 0.20% Free (Interac) 0.0025 ETH flat
Netcoins ~1.25% - 1.5% Free (Interac) Network fee
Kraken 0.16% - 0.26% 0.5% - 1.5% (Interac) Network fee
Wealthsimple ~1.5% - 2.0% Free (Bank / Interac) Network fee

1. Where to Buy Ethereum: A Crypto Exchange

A cryptocurrency exchange is where you buy and sell Ethereum in Canada.

Funding and deposit options: INTERAC e-Transfer, wire transfer or bank draft are the easiest ways to transfer funds between your bank account and the crypto exchange.

Payment options like credit cards and Paypal don't work for most exchanges and banks. E-transfer is the easiest and cheapest way for most Canadians to transfer funds.

There is a fee (spread) for this exchange, rates will vary.

Exchanges and banks in Canada comply with KYC (Know Your Customer) Laws. This means you will need to upload a photo ID and other documentation to verify your identity before you buy Ethereum.

  1. Newton – Recommended for beginners. Low fees, easy to use, and lots of altcoins to buy and sell. Some users report signing up and the verification process can take time.

  2. Shakepay – Recommended for beginners. Easily buy and sell Bitcoin or Ethereum. Set up limit buys / sells or recurring purchases. Free ETH withdrawals on the normal speed option.

  3. NDAX – Recommended for buying and selling larger amounts. 0.20% flat trading fee. ETH/CAD order book with limit orders.

  4. Netcoins – Netcoins is the first publicly owned crypto trading platform in Canada. Supports ETH with Interac e-Transfer funding.

  5. Kraken – Global exchange with deep ETH liquidity. 0.16%-0.26% maker/taker fees on Kraken Pro.

Compare Crypto Exchange Fees ➞

2. Set up Your Wallet

A cryptocurrency wallet is software that allows you to securely store, send and receive digital assets.

You can start with a Software Wallet (hot) to hold the keys to your Ethereum. Some popular and trusted wallets are Exodus, Trust Wallet, and MetaMask.

Hardware Wallets offer offline storage for more security. Trezor or Ledger are current market leaders. Security Tip: Buy your hardware wallet direct from the manufacturer.

IMPORTANT! Backup Your Wallet with a Seed Phrase

A seed phrase is 12 or 24 simple words the computer randomly generates for you. This is used to backup your crypto funds and allows you to regain access to your funds if something happens to your wallet.

Write your seed phrase on a piece of paper to back up your wallet. Put it somewhere very safe.

3. Send Ethereum from Exchange to Your Wallet

SEND your Ethereum from the exchange to your wallet RECEIVE address.

Tip Confirm the first and last 4 digits of wallet addresses to make sure you copied and pasted the wallet address correctly.

Note on ETH gas fees: Ethereum network fees (called "gas") can vary a lot depending on how busy the network is. If you're not in a rush, some exchanges like Shakepay offer free withdrawals on the normal speed option.

What is Ethereum?

Ethereum is the second largest cryptocurrency after Bitcoin. It's a global, open-source platform for decentralized applications — basically a world computer that anyone can build on.

What makes Ethereum different from Bitcoin is smart contracts. Developers can write code that automatically executes when conditions are met. This is what powers DeFi (decentralized finance), NFTs, and thousands of other applications.

Fun fact for Canadians: Vitalik Buterin, one of the co-founders of Ethereum, is a Russian-born Canadian programmer who grew up in Toronto. Read his blog.

Ethereum moved from proof-of-work mining to proof-of-stake in September 2022 (called "The Merge"), which reduced its energy consumption by about 99%.

Is it legal to buy Ethereum in Canada?

Yes.

Frequently Asked Questions

Is Ethereum a good investment? I don't know. Do your own research. Ethereum is the second largest crypto by market cap, but that doesn't guarantee anything.

What is the difference between Ethereum and Ether? Ethereum is the network (the blockchain). Ether (ETH) is the cryptocurrency that runs on it. Most people just say "Ethereum" when they mean both.

Can I buy Ethereum on Shakepay? Yes. Shakepay supports Bitcoin, Ethereum, and USDC. It's actually one of the simplest ways to buy ETH in Canada.

Can I buy Ethereum through my bank? Not directly. You will need to send an Interac e-transfer or wire transfer to Newton or Shakepay from your bank.

What is gas? Gas is the fee you pay to use the Ethereum network. Every transaction costs gas. The fee changes based on network demand — sometimes it's a few cents, sometimes it's $20+. Check current gas prices before making a transfer if you want to save money.

Can I stake Ethereum? Yes. Some exchanges like Kraken offer ETH staking. You earn rewards for helping secure the network. However, staking rates change over time — check current rates before committing.

Conclusion - Where to Buy Ethereum in Canada

Shakepay is the easiest way for beginners to buy Ethereum in Canada.

Why I recommend Shakepay for ETH:

  • Simple app — buy and sell in seconds
  • Free ETH withdrawals (normal speed)
  • Interac e-transfers for fast deposits and withdrawals
  • Set up recurring purchases to dollar cost average
  • Get a $20 Sign Up Bonus →

If you want more altcoins beyond just ETH, Newton has 75+ coins. If you're buying larger amounts, NDAX has a 0.20% flat trading fee.

You may also be interested in: How to buy XRP in Canada