You can purchase cryptocurrency by funding your chosen exchange and using those funds to buy different coins. However, figuring out how to buy crypto in Canada is often the easy part; deciding what to buy and when to sell is much more challenging.
Discover your top coin options, familiarize yourself with key terms, and more in this guide. But, keep in mind that, like most high-risk investments, the crypto market is highly volatile, so only invest money you can afford to lose.
Best cryptocurrency in Canada 2025 winner: Ethereum
Produced By Mining
Decentralized
Circulating Supply
120,696,447.97 ETH
Current Price
$4,895.53
Founded by 19-year-old Russian-Canadian Vitalik Buterin in July of 2015, Ethereum is an open-source platform that uses blockchain technology to create and power tamper-proof decentralized financial contracts and digital applications. It's currency, ether (ETH), is currently selling at around US$4,895.53 per coin, though this is subject to change regularly.
Pros
- Smart contracts
- The team behind Ethereum
- Name recognition
Cons
- Transactions aren't as fast
- Smart contracts hack
- Trouble with scalability
Provinces
ALL
Eligibility
See Issuer for Details
Why You Want It
Easily build and execute smart contracts + Decentralized design.
Special Features
See Issuer for Details
Produced By Mining
Decentralized
Limited Supply
Circulating Supply
120,696,447.97 ETH
Current Price
$4,895.53
All-time High Price
$6,843.16
All-time High Date
August 24, 2025
Our pick for the best cryptocurrency in Canada for 2025 is Ethereum. It's used worldwide and is a leader in blockchain technology.
Ethereum stands out for its incredible versatility and growth potential, especially with its transition to Ethereum 2.0. This makes it the most sustainable, scalable crypto option in Canada.
How we picked the best cryptocurrency
To evaluate cryptocurrencies, we analyze over 10 data points to generate a trustworthy Genius Rating. We consider all aspects of a cryptocurrency, including whether it's decentralized or not, type of supply, whether it’s mineable or not, price, and extra perks, to assess its overall value. Then, the cryptocurrency’s features are rated based on how they stack up against other available options.
How to buy cryptocurrency in Canada
The best way for Canadians to buy Bitcoin and other cryptocurrencies is through a crypto exchange. Some reliable and popular exchanges are:
- Wealthsimple Crypto
- Bitbuy
- Shakepay
- Coinsquare
- Kraken
- Coinberry
It's important to recognize that crypto trading is very distinct from trading traditional stocks. Here are a few (of the many) important things to remember when considering a move to crypto trading.
The markets are always open
Crypto markets never close. You can trade cryptocurrencies 24/7, 365 days a year without the need for intermediaries. Stocks, on the other hand, take the evenings and weekends off and normally require a broker who will execute a trade.
Regulation differences
Perhaps the most important difference to remember is that there's no central authority to regulate the crypto markets, meaning there's no one to turn to in case a crypto exchange pulls an exit scam and leaves you crypto-less and at a financial loss.
Ownership/possession
Usually, those who buy cryptocurrency don’t have any legal hold on it or its value. If you own a unit of stock, you have legal rights to that piece of the company – but owning a unit of crypto doesn’t give you the same rights. Cryptocurrencies have no intrinsic value, so they’re not backed by assets like stocks.
Transparency
While publicly traded companies have legal requirements involving transparency, many crypto markets don’t. This isn’t to say that some markets don’t work hard to be transparent, but it isn’t a legal obligation. Unfortunately, this makes it more difficult to research your crypto investment and make an educated decision about its potential profitability.
What is cryptocurrency?
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security, making it difficult to counterfeit or double-spend. It operates on decentralized networks, typically based on blockchain technology, allowing peer-to-peer transactions without the need for intermediaries like banks.
The term "cryptocurrency" got its name from the use of encryption to verify transactions. They use cryptography for things like:
- Securing transactions, exchanges, and wallets
- Verifying the transfer of assets
- Regulating the creation of additional cryptocurrencies
- Ensuring pseudo or full anonymity
Cryptocurrency terms
Cryptocurrency lingo can be overwhelming and difficult to figure out, especially if you're taking your first steps in acquiring crypto coins.
Here's a list of terms that will help you ascend into the exciting world of investing in cryptocurrencies.
| Cryptocurrency term | Definition |
|---|---|
| Altcoins | This refers to all cryptocurrencies launched after Bitcoin. For example, Litecoin, often called "the silver to Bitcoin’s gold," was the second cryptocurrency to launch in 2011. |
| ATH | ATH is short for All-Time High. It refers to the highest value a cryptocurrency has ever reached since its inception. For example, Bitcoin’s ATH stands at nearly US$144,340.67. |
| Bitcoin | The first type of cryptocurrency ever created. It was launched on Jan. 3, 2009, and its value has risen since then. |
| Blockchain | A digital means of tracking all transactions – a ledger with a unique and unchangeable identification. |
| Cold wallets | Cold wallets are considered the most secure way to store your crypto coins – they aren't connected to the internet, making them less hackable. They also feature robust recovery options, such as a 24-word recovery seed. |
| Cryptocurrency exchange | A cryptocurrency exchange is an online platform where you can trade one kind of cryptocurrency for another. 2 of the more popular exchanges right now are Binance and Coinbase. |
| Ethereum | A type of cryptocurrency – the second most popularly traded type, after Bitcoin. |
| HODL | Crypto slang for holding a cryptocurrency long-term, rather than selling it for short-term profits. The term is derived from a misspelling of the word "hold" by a Bitcoin trader on Reddit back in 2013. |
| Hot wallet | In contrast to a cold wallet, hot wallets are cryptocurrency wallets that are connected to the internet and allow traders to quickly send and receive cryptocurrencies. Unless you decide to trade cryptocurrencies regularly, there's absolutely no reason to keep your crypto assets in a hot wallet due to the potential hacking risk. |
| Moon | Crypto slang for cryptocurrencies that are suddenly experiencing a huge boost in price. It’s used when the price shoots through the roof, all the way to the moon, hitting new all-time highs. |
| Public key | Your wallet’s address. It’s a long string of numbers and letters you can share in order for others to send you money or take money once you’ve authorised them to do so. |
| Private key | A private key is a secret number that gives cryptocurrency investors ownership of their crypto funds. When you're transferring these funds, the private key indicates to the network that you have the authority to do so from the address you’re sending from. |
| Satoshi | Satoshi refers to the smallest unit of a Bitcoin. It's named after the credited and anonymous creator of Bitcoin, Satoshi Nakamoto. |
| Smart contract | A contract that uses code to automatically carry itself out. Both parties can check and agree to the contract without a 3rd party being necessary. |
| Stablecoin | A stablecoin is a cryptocurrency with value pegged to an external asset (e.g. gold or fiat currency) in an attempt to stabilize its price. It also gives traders the possibility to reduce price volatility without fully cashing out. |
Types of cryptocurrency to buy
Currently, there are more than 10,000 different cryptocurrencies on the market. Bitcoin is the original cryptocurrency, while all other coins that followed and operate on their own separate blockchain, are known as altcoins. These altcoins include coins such as:
A crypto token, on the other hand, is a cryptocurrency that operates on top of another blockchain.
Stablecoins are yet another type of crypto. These coins peg their value to an external asset (e.g. gold or fiat money) in an attempt to stabilize their price.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
FAQ
What is cryptocurrency?
A cryptocurrency is a digital currency that's based on blockchain technology. Crypto coins solely exist on the internet, meaning that there are no physical coins or bills in circulation.
How to buy cryptocurrency in Canada?
The best way for Canadians to buy Bitcoin and other cryptocurrencies is through a crypto exchange such as Bitbuy, Shakepay, Coinbase, Kraken, and Coinberry.
Are there different types of cryptocurrency?
There are many different types of cryptocurrency, including Bitcoin, altcoins, tokens, and stablecoins. Ethereum, Litecoin, Cardano, and Dogecoin are well-known altcoins.
Is cryptocurrency safe?
Investing in cryptocurrency carries significant risks due to its high volatility, regulatory uncertainties, and susceptibility to market manipulation. While it offers potential for high returns, it's important to approach it with caution and only invest what you can afford to lose.
What’s the best app to buy cryptocurrency with?
There are several different apps for buying cryptocurrency in Canada, each with its own pros and cons. Coinsmart, Wealthsimple Crypto, and Bitbuy are the more popular ones. Wealthsimple is the highest rated of these exchanges in both the App Store and Google Play.
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