How To Buy Ethereum In Canada

How To Buy Ethereum In Canada

Written by Caroline Macdonald
Fact-checked by Caitlin Wood
Last Updated November 15, 2022

Ethereum is one of the most popular cryptocurrencies available on the market. The coin uses public key cryptography to record transactions on the Ethereum blockchain. Blockchain technology allows cryptocurrency to function without a central authority and it can operate on a peer-to-peer network. Cryptocurrency as a whole has increased in popularity over the past few years enabling Bitcoin, Ethereum, and other tokens to thrive.

How To Buy Ethereum In Canada

  • Cryptocurrency Exchanges – The most popular and easy way to buy, sell or trade crypto including Ethereum is through crypto trading platforms such as CoinSmart and Weathsimple Crypto. 
  • Peer-to-Peer Exchanges – If you’re looking for more anonymity while trading, peer-to-peer exchanges may be preferable. The platform works as a market where you trade your local currency for various currencies including Ethereum. 
  • Ethereum ATMs – If you’re looking to buy a small amount of Ethereum, you could use an Ethereum ATM. These ATMs have low fees and are easy to use. You simply need an Ethereum wallet to use it. 

What Is Ethereum?

Ethereum is a form of cryptocurrency and is second only to Bitcoin with respect to market capitalization. It exists on an open-source blockchain and boasts smart contract functionality (smart contracts are programs within a blockchain that run when certain conditions are met) the native crypto of the Ethereum platform is Ether. Ethereum itself is programmable which allows investors to use it for various digital assets.

Where Can You Buy Ethereum In Canada? 

There are many crypto trading platforms you can use the buy Ethereum. Depending on the platform you use, fees and available features will vary. Here is a list of the best crypto trading platforms for Ethereum. 


CoinSmart is a crypto trading platform that is based in Canada. They are a publicly traded company on the NEO Exchange and are known for its ease of use and features. CoinSmart offers same-day deposits and minimal wait times, real-time trading activity tracking, and multiple funding methods including Interac, SEPA, and wire transfers.

CoinSmart Fees 

Trading fees are commission based at CoinSmart. Single trades have a 0.20% trading fee while double trades have a fee of 0.30%. If you’re looking to stake your crypto, fees can go up to 30% of net staking rewards.


Coinbase is a simplistic crypto platform where you can buy Ethereum and develop your crypto portfolio. Coinbase is available in over 100 countries and has over 73 million verified users. They offer secure, offline storage to ensure the protection of your crypto assets. It also insures your crypto assets with FDIC insurance and covers up to $250,000. Coinbase also offers a mobile application where you can manage your portfolio and set up recurring buys.

Coinbase Fees

When you buy, sell or trade crypto through Coinbase, the fees charged will vary. Fees are determined using a number of factors such as your payment method, the size of the order, your location and the market conditions. 


NDAX is a secure and easy-to-use platform that enables users to buy, sell, and trade crypto assets including Ethereum. NDAX is a Canadian-based company but is available across the world.

The NDAX platform is fairly intuitive, making it easy for beginners to trade crypto. Similarly, they have advanced trading features and tools for seasoned traders such as portfolio reports and the ability to set up recurring buys. NDAX also enables users to make large-scale trades through NDAX Wealth which provides a personal experience with no price slippage. Users can also earn rewards by staking their digital assets. 


Whether you’re buying or selling, fees are set as 0.20%. Funding your account is free, however, withdrawing from your account costs $4.99 CAD.

Wealthsimple Crypto

Wealthsimple, well known for its popular stock trading platform, also offers Wealthsimple Crypto,  Canada’s first regulated crypto trading platform. Wealthsimple Crypto can be accessed via the Wealthsimple Trade platform, users who do not have a Wealthsimple Trade will need to create one. Once you have an account, you can get started trading with as little cash as $1.

You can access up-to-date crypto news in-app so you have the right information needed to make the best investments. Transfer crypto to and from your Wealthsimple account, set a target price to buy or sell, and stack Ethereum and Solana. If you’re new to crypto trading, Wealthsimple Crypto is an easy-to-use platform that can help you hone your crypto trading skills.

Wealthsimple Crypto Fees

Wealthsimple charges a 1.5% to 2% operating fee on each transaction. These transaction fees include operational fees, safe coin storage, and the cost of their liquidity partners. There is no fee to withdraw or deposit coins and Wealthsimple does not charge commission on trades. 


Netcoins is the very first publicly traded crypto trading platform that is regulated in Canada.  Users can trade over 30 different cryptocurrencies using Netcoins, including Ethereum. With Netcoin, anyone can start investing in crypto as you can start buying Ethereum and other cryptocurrencies with as little as $10. Moreover, it also allows users to set price alerts for strategic buys and enables limit orders so your trades are executed at a specific, predetermined price. 

Netcoins is a great platform to buy Ethereum as it’s known to have fantastic customer service for any issues that may arise during your crypto trading experience. They’re also a government-regulated company, which adds to their security.

Netcoins Fees

Trades have a fee of 0.5%, however, there are no funding fees or cash withdrawal fees.

Where Can You Store Your Ethereum? 

In order to store cryptocurrency, a buyer can keep it on their trading platform (e.g. Binance, Wealthsimple Crypto, etc), however, once a buyer has begun to accumulate a significant amount of crypto assets, it is highly recommended that they invest in a crypto wallet. There are wallets specifically designed for Ethereum that can be hot or cold:

Software (Hot) Wallets

These wallets are stored online and are always connected to the internet and the cryptocurrency; you can store, send, and receive tokens using this kind of wallet. They are connected to the internet and are therefore less secure and more vulnerable to security breaches. However, a hot wallet is considered a better alternative to keeping crypto assets in a crypto exchange. Some examples of hot wallets are Exodus and Edge.

Hardware (Cold) Wallets

These wallets are the most secure and keep your crypto assets stored offline where they will not be subject to online security breaches and software attacks. Cold wallets can be thought of like a USB drive, however, if you lose your password you completely lose access to your cryptocurrencies. Some examples of these wallets are the Ledger Nano S and Ledger Nano X.

Ethereum FAQs

Is Ethereum safe to buy in Canada?

Yes, it is safe, so long as you are using a reputable crypto exchange like Wealthsimple Crypto or Bitbuy. In Canada, there are even ether ETFs for retail investors.

 Can I use Ethereum to make purchases?

At this moment in time, Ethereum cannot be used as a tender to buy goods/services, however, it can be purchased and sold using an exchange. Any profits made off of your crypto may be subject to taxes.

 What’s the difference between Bitcoin and Ethereum? 

Bitcoin and Ethereum are both types of cryptocurrency that can be bought, sold, and traded, however, they exist on different blockchain platforms and have different values.

Bottom Line

Ethereum is second to only Bitcoin for the title of the most popular and sought-after cryptocurrency. It is important to note that cryptocurrencies are new and are particularly volatile; be sure to do your research before going ahead and purchasing some Ethereum for your portfolio

Caroline is a 4th year commerce student at Memorial University of Newfoundland pursuing a focus in finance. She is a member of Memorial University’s student managed investment fund and acts as a sector manager in the industrial and financial sectors. Caroline joined the Loans Canada team in 2021 and rediscovered her passion for writing and media creation. In her free time she enjoys spending time with friends and family and reading.

Click on the star to rate it!

How useful was this post?

Research & Compare

Canada's Loan Comparison Platform

Largest Lender Network In Canada

Save time and money with Loans Canada. Research and compare lenders before you apply. Share your experiences with Canada's top lenders.

Save With Loans Canada

Special Offers

Red American Express® Card

Red American Express® Card
Ends April 30, 2023

Earn up to 12,000 bonus Scene+™ points in your first year (that’s up to $120 towards travel).

View Offer
Cashback & Bonus Offer

Cashback & Bonus Offer
Ends March 1st, 2023

New Offer! Get up to $2,000 cashback + a $50 bonus on signing up. Conditions apply.

View Offer
Earn 5% Cash Back With Neo

Earn 5% Cash Back With Neo
No annual fee!

Earn an average 5%¹ cash back at thousands of partners and at least 0.5%² cashback guaranteed.

View Offer
Best Personal Loan Provider by Greedy Rates

Confidential & risk-free

All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan. Loans Canada is not a mortgage broker and does not arrange mortgage loans or any other type of financial service.

When you apply for a Loans Canada service, our website simply refers your request to qualified third party providers who can assist you with your search. Loans Canada may receive compensation from the offers shown on its website.

Only provide your information to trusted sources and be aware of online phishing scams and the risks associated with them, including identity theft and financial loss. Nothing on this website constitutes professional and/or financial advice.

Your data is protected and your connection is encrypted.

Loans Canada Services Are 100% Free. Disclaimer

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.