Updated on Mar 8, 2024: BTC hit an all-time high price again today. Bitcoin’s value isn’t the only thing on the rise. As of today, Shakepay is quadrupling (!) the referral rewards. If you want to sign up a new Shakepay account, please use our referral link below: https://shakepay.me/r/NXDBDC0 , and you can earn $20 (it was only $5 before) when you buy CAD $100 of crypto.
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Updated on Mar 5, 2024: BTC hit an all-time high price today.
Updated on Aug 20, 2022: I am not asking you to buy Bitcoin or any cryptocurrencies here. Cryptocurrencies investment has very high risks. Please be wised with your decision! But, if you want to buy Bitcoin in Canada, I would suggest you to try Shakepay / Newton / Netcoins / VirgoCX. If you want to sign up a new Shakepay account, please use our referral link below: https://shakepay.me/r/NXDBDC0 , and you can earn $20 when you buy CAD $100 of Bitcoin / ETH. If you want to open a new Newton account, please use our referral link: http://web.newton.co/r/7O419Y , and you can earn $25 when you make your first trade of CAD $100 cryptocurrencies. If you want to open a new Netcoins account, please use our referral link: https://netcoins.app/r?ac=13S8HS , and you can earn $25 when you make your first trade of CAD $50 cryptocurrencies. If you want to sign up a new VirgoCX account, please use our referral link below: https://virgocx.ca/page#/register?code=u7zOV9kh , and you can earn $30 when you make your first fiat deposit of $100 CAD or more. Thanks for your support.
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Bitcoin price is around USD $40,000 on Jun 16, 2021. Some friends asked me recently how to buy Bitcoin in Canada. So, I would like to introduce the options for Canadians to buy bitcoin today. Note: I am NOT recommending or suggesting that you should buy those cryptocurrencies, and you should always do your research to make informed investing decisions. All I provide here is just an introduction of the workflow. From my point of view, I prefer Shakepay and Newton exchange platforms.
SHAKEPAY
The easiest way for Canadians to buy Bitcoin (or ETH) now is to use Shakepay exchange platform. You can buy Bitcoin in minutes with Interac e-Transfer. If you want to sign up a Shakepay account, please use our referral link below: https://shakepay.me/r/NXDBDC0 , and you can earn $5 when you buy CAD $100 of Bitcoin. Thanks for your support.
The easiest way for Canadians to buy Bitcoin (or ETH) now is to use Shakepay exchange platform. You can buy Bitcoin in minutes with Interac e-Transfer. If you want to sign up a Shakepay account, please use our referral link below: https://shakepay.me/r/NXDBDC0 , and you can earn $5 when you buy CAD $100 of Bitcoin. Thanks for your support.
You’ll then fill out the rest of the personal information, ensuring it’s as accurate as possible so Shakepay automated third party service can try to get your account verified through a "soft pull" identity check.
A soft pull is restricted only to Name, Address, and Date of Birth in order to match the information found on the credit bureaus’ database. The nature of this pull is that only you, as the owner of your credit bureau report, can see this inquiry. It does not affect your credit score.
If the check passes, your identity will automatically be verified on Shakepay. Normally if you have a few years Canadian credit history, you should be able to get verified with the soft pull. If it fails, however, Shakepay will need you to share some documents to help verify your identity (please see more details here).
In addition to the ID verification, Shakepay will ask you to upload a picture of yourself with a phone ID in hand along with a sheet of paper that has on it written Shakepay and today's date.
Now your account has been created, you’re ready to use the app. There are four ways to fund or withdraw in Shakepay (all FREE):
Fund
Withdraw
After add money to your account, you can click "Exchange" => "MAX" => "Exchange" to buy Bitcoin.
Shakepay charges
And, Shakepay app also allows you to send and receive money or crypto to your friends for FREE.
Updated on Dec 23, 2020: If you sign up Shakepay using referral link, you can earn ShakingSats Rewards from Shakepay. All you need to do is to open the Shakepay mobile app and “shake” your device. Then a message will pop up in the Shakepay mobile app when you have successfully earned the ShakingSats Rewards.
If the referral link does not working properly, you may see the above message. But don't worry, this situation does happen sometimes. There is a easy way to solve this issue:
- Open the Shakepay app
- Click "Help" => "Support chat". There is an option for referral. Normally, it will provide you with a link: http://shakepay.com/add-referral
- Then you can fill in the referral code you used. If you used our code, you can fill in NXDBDC0 here. Thanks.
ShakingSats Rewards are given once per calendar day. ShakingSats Rewards shall be deposited into your Shakepay Bitcoin wallet. On the first day, if you shake your device you will be rewarded with the Day 1 ShakingSats Reward (250 satoshis). If you shake again on the next day, you will be rewarded with the Day 2 ShakingSats Reward (280 satoshis). And so on until you reach Day 201 (2500 satoshis). Based on today's Bitcoin price, 2500 satohis value is around CAD $1.50. If you continue to shake after Day 201, you will earn the Day 201 ShakingSats Reward for each additional day you keep shaking. If you fail to shake your device on any day calendar day (Eastern Time), the next time you shake your device you will come back to Day 1 and the Day 1 ShakingSats Reward. Please read the Terms & Conditions (with ShakingSats Rewards Table). Shakepay has the right to change this ShakingSats Rewards amount anytime. Now I know why this app is called Shakepay...
I think Shakepay is quite convenient and user-friendly. If you are new to cryptocurrency trading, Shakepay is one of your best ways to start in Canada.
Updated on Apr 21, 2021: Shakepay is introducing a Shakepay Visa Prepaid Card with Bitcoin cashback on everything you buy. With the Shakepay Card, you’ll be able to spend your dollar balance at any Visa-accepting merchant, both in-store and online, and earn bitcoin to your Shakepay account. The Shakepay Card will only be available to Shakepay customers that have been fully verified. To get early access, you can open the Shakepay app and join the waitlist. To move up in ranks, shake your phone for sats or shakepay a friend.
Newton
Newton is a Canadian exchange platform and it is FINTRAC-regulated. It currently supports Bitcoin, ETH, LTC, XRP, DOGE, USDC, USDT, Stellar, Bitcoin Cash, LINK, AAVE, UNI, MATIC, COMP, SUSHI, CRV, SNX, DAI, ADA, YFI, DOT, MKR, PAXG, AXS, BAT, ENJ, BAL, ZRX, DASH, KNC, EOS. If you want to open a new Newton account, please use our referral link: http://web.newton.co/r/7O419Y , and you can earn $25 when you make your first trade of $100+. Thanks for your support. BTW, your own referral link will generate after your account is created.
The Newton registration workflow is similar to Shakepay. So, we will not talk too much on it.
One thing special about Newton is "Zero fees". Whether you’re making a trade, adding or withdrawing funds — Newton has made it easy by removing the fees. This is a really fantastic feature, and I like it a lot. You can see Newton's explanation on the 0 commission charge below.
Newton's funding options include Interac e-Transfer, wire transfers, pre-authorized debit, and crypto.
The Newton app is easy to use, even for new users. Overall, I am very satisfied with Newton.
Updated on Feb 7, 2022: Limit orders are a type of order that allow you to set a target price, or a “limit”, for how much you're willing to pay to buy or sell a specific token. When the market price reaches the value of the limit order price that you’ve chosen, your trade will automatically trigger and your order will be filled. Simply choose your target buy/sell price, set it, then forget it. Newton Crypto Trading Platform now provides mobile support for limit orders.
Netcoins
Netcoins is a Canadian cryptocurrency trading platform. Netcoins is owned by BIGG Digital Assets, a public company traded on the CSE under BIGG. Netcoins is a registered MSB with FINTRAC. It is also fully regulated and registered with the Canadian Securities Administrators (CSA) and BCSC. At Netcoins, you can now trade 20+ cryptocurrencies 24/7 through their Web and Mobile apps.
If you want to open a new Netcoins account, please use our referral link: https://netcoins.app/r?ac=13S8HS , and you can earn $25 when you make your first trade of $50+ worth of crypto. Thanks for your support. BTW, your own referral link will generate after your account is created.
When you open the Netcoins account, you will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). If you don’t pass the automated KYC process, you will have to go through an additional document verification stage.
Your Netcoins account can be funded with a cryptocurrency deposit, Interac e-Transfer, or a bank wire transfer. There are no funding fees imposed by Netcoins. It’s always free to fund at Netcoins. But, Netcoins charges a 0.5% fee for every trade.
It’s free to cash out with Netcoins. Once you’ve sold your crypto back into CAD or USD, you can withdraw your balance directly into your bank account via Interac e-Transfer or a bank wire. If you want to send cryptocurrency from Netcoins to an external wallet, it triggers network fees imposed by the blockchain. Netcoins charges a crypto withdrawal fee to cover these network fees. You can check the crypto withdrawal fees here. They remain the same whether you’re sending out $100 or $100,000 worth of crypto.
Netcoins is introducing a prepaid Visa: Netcoins Pay Card, which is similar to Shakepay Card. Netcoins Visa Prepaid Card has no annual account fees. Cardholders can choose from a virtual and/or physical card and they can use the Netcoins card anywhere that accepts Visa cards, Apple Pay, Google Pay or Samsung Pay. As a cardholder, you can earn 3% Bitcoin back for the first 3 months and 1% back after that point.
COINSQUARE
As I said, Shakepay is amazing, but you can only trade Bitcoin and ETH in Shakepay for now, and they don't provide advanced trading option. So, if you want to trade LTC / ETC / DASH / BSV / BAB / DOGE / XRP in addition to Bitcoin and ETH, you can use Coinsquare.
As I said, Shakepay is amazing, but you can only trade Bitcoin and ETH in Shakepay for now, and they don't provide advanced trading option. So, if you want to trade LTC / ETC / DASH / BSV / BAB / DOGE / XRP in addition to Bitcoin and ETH, you can use Coinsquare.
The Coinsquare registration workflow is similar to Shakepay.
The Canadian Dollar funding and withdrawal options are as follows:
Updated on Feb 17, 2021: Coinsquare decreased the Quick Trade commission fees to 0. Also you can enjoy the free Interac e-Transfer on the withdrawals from Quick Trade.
VirgoCX
- Click your friend's referral link and open a new VirgoCX account. If you don't have a referral link, please use ours (https://virgocx.ca/page#/register?code=u7zOV9kh) or our referral code: u7zOV9kh. And you will receive a $20 CAD. Note: no deposit required！
- When you sign up and make your first fiat deposit of $100 CAD or more, you will get an extra $40 CAD.
BTW, We will receive bonus from VirgoCX too. Thanks.
Unlike other platforms such as Shakepay or Newton, VirgoCX only requires $100 deposits and does not require "buy" or "sell" a certain value of CryptoCurrency, so there is no need to worry about losing the value.
Deposits and withdrawals can be made through Interac transfer, but withdrawing requires a 0.5% handling fee (at least $5).
It is worth noting that the $30 account welcome bonus does not come immediately. It may take about 2 weeks. Be patient.
Updated on Sep 24, 2021: You can now find, trade, and collect valuable NFTs with VirgoCX brokerage service. VirgoCX is the first cryptocurrency trading platform in Canada to launch NFT brokerage services.
Updated on Feb 13, 2022: VirgoCX just waived the fiat deposit/withdrawal fee and the withdrawal fee for all non-ERC20 coins. For all ERC20 coins, VirgoCX will cover up to $6 CAD of withdrawal fee.
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APPENDIX
How to buy other types of cryptocurrencies?
There are still many other types of cryptocurrencies that worth to invest in addition to those listed in Shakepay / Newton / Coinsquare. So, I want to introduce how to trade other cryptocurrencies (for example: EOS. Of course, you can select other cryptocurrencies you like) in Canada with 10 simple steps.
1) Click our referral link: https://shakepay.me/r/NXDBDC0 and create your Shakepay account with your ID verification.
2) Fund your Shakepay Canadian Dollar balance through Interac e-Transfer.
3) Buy Bitcoin in Shakepay. Shakepay does not support EOS. So, you need to buy Bitcoin in Shakepay and then transfer it to other trading platforms. I like to buy EOS in Binance, which is one of the largest trading platforms in the world with hundreds of different types of cryptocurrencies. The reason why you cannot buy EOS directly in Binance is they don't take Canadian Dollar deposits from Canadian banks.
5) Transfer your Bitcoin from Shakepay to Binance
a. In Binance, click Bitcoin "Deposits" and "Copy Address":
b. In Shakepay, click Bitcoin "Send", and then paste the above address.
6) Exchange EOS with Bitcoin in Binance.
You can choose "Limit" or "Market" to buy EOS with Bitcoin.
Now you have EOS in Binance. If you want, you can sell EOS for Canadian Dollars. All you need to do is to reverse the workflow I mentioned above.
7) Sell EOS to Bitcoin in Binance.
8) Withdraw Bitcoin in Binance and then Deposit them into Shakepay.
9) Trade Shakepay Bitcoin into Canadian Dollars
10) Withdraw Canadian Dollars from Shakepay account to your Canadian bank account.
And that's it! Now you know how to buy different types of cryptocurrencies in Canada 😊! Feel free to let us know what you think about cryptocurrencies in the comments! Thanks.
Note: I am not asking you to buy Bitcoin or any cryptocurrencies here. Cryptocurrencies investment has very high risks. Please be wised with your decision!
a. In Binance, click Bitcoin "Deposits" and "Copy Address":
You can choose "Limit" or "Market" to buy EOS with Bitcoin.
Now you have EOS in Binance. If you want, you can sell EOS for Canadian Dollars. All you need to do is to reverse the workflow I mentioned above.
7) Sell EOS to Bitcoin in Binance.
8) Withdraw Bitcoin in Binance and then Deposit them into Shakepay.
9) Trade Shakepay Bitcoin into Canadian Dollars
10) Withdraw Canadian Dollars from Shakepay account to your Canadian bank account.
And that's it! Now you know how to buy different types of cryptocurrencies in Canada 😊! Feel free to let us know what you think about cryptocurrencies in the comments! Thanks.
Note: I am not asking you to buy Bitcoin or any cryptocurrencies here. Cryptocurrencies investment has very high risks. Please be wised with your decision!
Updated on Nov 12, 2019: Shakepay launched two new features on Shakepay: limit orders (allow you to buy or sell at a price that you set) and 2FA with Authenticator (safer and more flexible).
Updated on Jan 6, 2021: As you may know, now you can also buy Bitcoin easily from: Wealthsimple Crypto or MogoCrypto etc. The thing is that you can only buy / sell / hold coins within those platforms. But you cannot withdraw Bitcoin from those platforms to your own crypto wallet (deposits and withdrawals can only be made in Canadian dollars. There is a well-known saying "Not your keys, not your coin". It means that if you don't control the keys of the wallet, you don't control the cryptocurrency. Therefore, I don't recommend those platforms.
Updated on Feb 28, 2021: Newton covered network fees for crypto withdrawals before. But due to recent high network fees, Newton introduced a new program called "Surge Pricing". Basically, Newton will cover the first $5 in network fees, and anything beyond that will come out of the withdrawal amount. When network fees are at normal (historical) levels in the future, withdrawals will still be free.
Updated on Mar 10, 2021: Cryptocurrency is taxed in Canada as either capital gains or as income tax, depending on whether your activity with cryptocurrency is considered to be as a business or not. 100% of business income is taxable, whereas only 50% of capital gains are taxable. Crypto.com is releasing a free only solution for every cryptocurrency owner who needs to prepare their crypto taxes (website address).
It support API (read-only access) and CSV import for popular exchanges/wallets in Canada. If you are using other exchanges/wallets, you can still follow its generic CSV format to get your tax calculation results.
Updated on Jun 29, 2021: Newton just added support for four more coins on Newton. Trading and funding for DAI, SUSHI, SNX and CRV are live on Newton now. Withdrawals are coming soon. So, for now, Newton can support following coins: Bitcoin, ETH, LTC, XRP, DOGE, USDC, USDT, Stellar, Bitcoin Cash, LINK, AAVE, UNI, MATIC, COMP, SUSHI, CRV, SNX, DAI (much more than Shakepay).
Updated on May 12, 2023: Binance will withdraw from the Canadian marketplace. You can still use Binance until Sep 30, 2023. From Oct 1, 2023, Canadian Binance customers will be put into liquidation only mode. Please see the notice below for details.
BTW, If anyone wants to leave his/her Shakepay / Newton / VirgoCX referral link below, please use the following format ONLY: "My ****** referral link is: ******." Other format will be deleted. Thanks. Note: Because it contains link, we need to approve referral comments one by one. So, please be patient...
