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CoinSmart is a Canadian cryptocurrency exchange based in Toronto. Learn more : CoinSmart Canada Review. Its cryptocurrency trading app is hosted on the same platform you can use to buy and sell stocks and ETFs. Finance, Synthetix, and 21 others. Learn more : Wealthsimple Crypto review. The National Digital Asset Exchange offers instant buys of several coins. It is also based in Canada. Account funding: Interac e-Transfer, wire transfer, bank draft, and cryptocurrency.

Learn more : Bitbuy Canada review. Netcoins is a Canadian cryptocurrency trading platform established in Learn more about the platform in this detailed Netcoins review. Ethereum Ether is not legal tender in Canada. That said, it is not against the law to buy and sell Ethereum using a cryptocurrency exchange or broker. 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.

Bitcoin and Ether are no different. Both coins have minted millionaires, and many have also lost money trading both currencies. The risk with 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. One of the top questions people are asking about Ethereum right now is whether it is the next Bitcoin?

In my opinion, that means you should not invest your retirement savings, emergency fund, or money you need for day-to-day expenses. Sign up now to join thousands of other visitors who receive our bi-weekly newsletter and latest personal finance tips. Enoch Omololu is a personal finance expert and a veterinarian. He also has an MSc. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His top investment tools include Wealthsimple and Questrade.

Sign me up for your mailing list. This site uses Akismet to reduce spam. To purchase Ethereum, traders may use either their Canadian bank account or money from an existing Wealthsimple account. Step 3: Make a deposit into your cryptocurrency account and you can begin buying Ethereum.

If you opt to withdraw your earnings once your assets have been converted to Canadian dollars, the money may be sent back to your bank account. Automated cryptocurrency deposits are a convenient method to begin collecting Ethereum right away, and you have the option of arranging your crypto auto-deposits to occur on a weekly, biweekly, or monthly schedule.

Auto-deposits — are contributions to Ethereum that are made on a regular basis without the need for human intervention. Automatic rebalancing — in reaction to market volatility, Wealthsimple will automatically adjust your portfolio. Note: See our How to Invest in Crypto on Autopilot guide for more information on investing on autopilot with Wealthsimple and other platforms. Coinbase is most known for its consumer product, letting users buy and sell cryptocurrencies through a brokerage platform.

Customers may buy, trade, and convert Ethereum through Coinbase. Getting started with Coinbase is straightforward, fast, and secure, and the platform is designed to keep your personal information safe and private. In addition, Ethereum and other crypto-assets are protected by industry-leading security and insurance. Based in California, the U. Note: For additional information about Coinbase, please see our in-depth Coinbase review. Despite the fact that Coinbase allows instant deposits, debit cards remain the only option of making a deposit while utilizing this cryptocurrency exchange platform to purchase Ethereum in Canada.

Furthermore, since Coinbase does not accept bank account payments. Unlike VirgoCX, Canadian clients will be unable to make payments using their bank accounts on Coinbase. Following the deposit of cash into your account, the site offers a straightforward method of buying Ethereum with a single click of a button.

Follow these six steps to link a debit card to your account to begin purchasing Ethereum:. Step 4: Please provide your debit card information two small, temporary debits will be applied to your card. Step 6: In order to complete the process of adding and confirming your card on Coinbase, enter the right amounts in the respective sections.

Costs are 3. Whatsmore, the payment choices drop-down box on the Buy page now allows you to finish a purchase by selecting your card as the payment method of choice. Please bear in mind that it is not possible to sell cryptocurrency and have the funds credited to a card. In conclusion, all three cryptocurrency trading platforms and exchanges in Canada provide a solid, safe, and reputable service for anybody interested in purchasing Ethereum or other cryptocurrencies. The fact that there are several options accessible necessitates a comparison of the deposit and withdrawal methods, fees, and transaction speeds offered by each platform, as well as its usability and simplicity, before deciding which is the best fit for your needs.

For those of you who are still undecided about which platform to use, we suggest that you read our in-depth individual evaluations on each of the three sites that we have selected for this guide to purchasing Bitcoin in Canada in order to get further knowledge before making your final selection. Canada is a crypto-friendly country; hence businesses and consumers alike may conduct Ether-related transactions. Additionally, the government enables the buying and selling of Ether on open exchanges and trading platforms on top of the use of ATMs as a form of payment.

Even though Ethereum is not recognized as legal tender, tax rules continue to apply. It is possible to acquire Bitcoin in Canada in the same way that you can purchase Ethereum, either via an exchange, a trading platform, or even an ATM; the operations are almost identical in many ways.

For more information, be sure to read our How to Buy Bitcoin in Canada guide. Since crypto and Ethereum are legal commodities at the federal level, and securities like cryptos are legislated on a provincial basis, the restrictions on cryptos have been harmonized across provinces.

Thus crypto and Ethereum are accessible in all provinces. One of the most cost-effective methods to purchase Ethereum in Canada is via an online cryptocurrency platform, like VirgoCX. The ideal platform to choose will depend on the fees it charges for depositing, withdrawing, and trading, among other things.

Your chosen way of financing plays a significant role in determining which platform is the best fit for you. Or follow us on Flipboard. Check your inbox or spam folder to confirm your subscription. Jordan is an investor and market analyst. At Finbold. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted.

Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Stocks Regulations Financial crime Banking Interviews.

Percentage Calculator. Jordan Major Updated: 19 Nov, 16 mins read. Visit VirgoCX. Read VirgoCX reivew. Visit Wealthsimple. Read Wealthsimple reivew. Visit Coinbase. Read Coinbase review. Be first to rate. Cryptocurrency news. Finance news. Stocks news.