Buy Ethereum (ETH) in Canada at Lowest Price

Ethereum coin is one of the major cryptocurrencies, the second-largest by market capitalization. So, it’s no surprise that people around the world want to buy it. Canadian residents are not an exception. By the way, not only Bitcoin is in trend now but Ether and its tokens, too. Every year, interest in Ethereum manifests itself in a new way. 2020 was the era of decentralized applications and smart contracts operating on blockchain technology; in 2021, NFTs became popular again, including those based on the Ethereum platform. With the new wave of NFT popularity, Ethereum is breaking all volume trading records on most exchanges.

 

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Changelly: best place to buy ETH

The best Canadian exchange is here, at Changelly. With our user-friendly interface and the lowest prices, buying Ethereum has never been easier. 

Bank Card

Purchase Ether with a debit, credit, virtual, or prepaid card. This will be an instant buy, also secure and easy.

Apple Pay

Buy digital currencies on the go. If you’re using an iPhone, you will be able to securely pay for your purchases with Apple Pay.

Bank Transfer

Make bank transfers to get ETH and enjoy higher limits and low fees.

How to buy ETH

You can choose from several fiat currencies, e.g., Canadian Dollars (CAD), USD, or any other national currency.

  • When you have decided on a trading pair, let’s suppose it is CAD/ETH, you will be able to select the fiat provider from Simplex, MoonPay, Banxa, and Indacoin. All of them show you a current exchange rate and payment options (credit and debit cards: Visa or Mastercard, bank wire transfer, and Apple Pay).

  • The next step is to enter your Ethereum wallet address.

  • New users may be asked to pass the KYC process, which includes your personal information and ID verification (most accounts get instantly verified).

  • This process is conducted for security purposes. After everything has been verified, you can deposit your fiat currency and wait for the transaction to complete.

  • Please, pay attention to the Gas transaction fees.

What Is Ethereum?

Ethereum is a decentralized, open-source blockchain platform with smart contract functionality. Similar to Bitcoin, Ethereum serves as a public ledger for verifying and recording transactions. But the Ethereum network also has found many applications in finance, web browsing, gaming, advertising, and supply chain management.

Ethereum has become a major decentralized blockchain network that surpasses its predecessors’ by use cases and rate of adoption. The token is characterized by high liquidity and an impressive market cap of over $539 trillion.

FAQ

Is Ethereum Legal in Canada?

Yes, residents can buy and sell Ethereum and other digital assets without any restrictions. Local regulations don’t classify crypto as a legal tender. So, you won’t be able to pay a mortgage or write up a bank draft with Ethereum.

Nevertheless, if you want to pay for a product/service, send a token to a friend, or handle your ETH in any other way, you’re free to do so.

Can Foreigners Buy Ether in Canada?

Absolutely! It doesn’t matter where you are or where you’re from - as long as you have a stable Internet connection and an exchange account, you trade cryptocurrencies, including Ethereum. 

If you’re just traveling to Canada and don’t have enough of the local currency, you might be lucky to make an online bill payment with Ether. And if you do it with Changelly, you’ll also pay the lowest fees on the market. 

How Is Ethereum’s Market Price Determined?

Just like with any financial instrument, the price fluctuates depending on supply and demand. Any person can buy and sell cryptocurrency on the OTC desk, and there are periods when there are more buyers than sellers. As a result, the price of Ethereum increases. 

In the opposite scenario, when there are more sellers than buyers, ETH drops in value. This is when a limit order comes in handy because you can set a lower threshold for your position and purchase Ether for less money.

Can I Buy Less Than 1 Ethereum?

Yes, just enter the fractional amount you need to exchange, and that will be it! 

But if you really believe in the Ethereum blockchain and plan to invest frequently, consider lumping up smaller purchases into one. Instead of doing several wire transfers, save up the money and make a bigger payment. This will ensure low trading fees.

What Are the Taxes for Buying Ethereum?

Canada does not charge any taxes if you purchase cryptocurrency. But if you hold it as an investment, it will be subject to capital gains tax.

The Canada Revenue Agency (CRA), which regulates all money matters in Canada, has everything outlined in a tax bill. After the bill came into effect, anytime you get rid of Ethereum or other coins, it is considered a taxable event. 

Where Can I Store Ethereum?

You can store ETH in a digital wallet, which interacts with blockchains through the Internet, enabling you to make crypto purchases and transactions. Alternatively, you can use a special device for cold storage to keep your private keys offline except during the transaction process. 

Which Ethereum Wallet Can I Use in Canada?

Changelly recommends only working with reliable online wallets, such as MyEtherWallet, Infinito, Coinomi, and CoinSpace, and hardware wallets, such as Ledger, Trezor, and CoolWalletS.

Who Accepts Ethereum in Canada?

Some of the major companies where you can make purchases with Ethereum are Amazon, Home Depot, Overstock, Gipsybee, Shopify, CheapAir, Tripio, Travala, and Trippki. We also want to point out Canadian retailers like HGregoire, Newegg.ca, Birks Group, Park and Finch Eyewear, Toronto Brewing, and Silver Gold Bull.

How to Cash Out Ethereum in Canada?

If you want to convert digital coins into physical money, you first need to exchange crypto into fiat. Go to Changelly, navigate to the ‘sell’ section, and follow the instructions to make a bank account transfer. Once the funds arrive, you can go to your nearest ATM and withdraw cash as you normally would.

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