Everything a Canadian needs to get started safely - from how crypto works, to choosing a regulated exchange, buying your first coin, and understanding your CRA tax obligations. No jargon. No hype.
By the CryptoNorth Team
Start with a Canadian exchange registered with FINTRAC (the federal money-laundering watchdog) and the CSA (your province’s securities regulator). For a first purchase we would point you at Newton or Shakepay — both Canadian-owned, simple to use, and free to fund by Interac e-Transfer. NDAX is meaningfully cheaper at a flat 0.20%, but its interface is busier. Bitbuy is mid-migration into Robinhood, so we would not start there today.
Compare Canadian Exchanges →Sign up with your email. All regulated Canadian exchanges require identity verification (KYC) under FINTRAC rules - you will need government-issued ID and a selfie.
Connect your Canadian bank via Interac e-Transfer (instant, free on most Canadian exchanges). Start with an amount you are comfortable potentially losing.
Most beginners start with Bitcoin (BTC) or Ethereum (ETH). You do not need to buy a whole coin - you can buy $50 worth and the exchange calculates your portion automatically.
Buying and holding is not taxable. When you sell, trade, or spend crypto you may owe tax to the Canada Revenue Agency (CRA). Keep records of every transaction.
Read the Canada Crypto Tax Guide →Once you hold meaningful amounts, consider moving long-term holdings to a hardware wallet. Our pick is the Trezor Safe 3 at CAD $89. If you use an iPhone, the Ledger Nano X at CAD $119 is the one that can send from iOS.
Learn About Crypto Wallets →All exchanges serving Canadians must register with FINTRAC as Money Services Businesses. Required since June 2020. Requires KYC identity verification and AML compliance.
The CRA taxes crypto. 50% capital gains inclusion rate for casual investors - the 66.67% hike was cancelled March 21 2025. Report all disposals on your T1 by April 30 2026.
Canadian exchanges accept Interac e-Transfer - the fastest and cheapest way to fund your account in CAD. Most offer free deposits. A major advantage for Canadians.
Crypto holdings on exchanges are NOT covered by CDIC. QuadrigaCX collapsed in 2019 losing $169M CAD. Only use regulated exchanges and consider a hardware wallet for large holdings.
Canada has no single national crypto license. Each platform registers with the CSA and its annual purchase limit depends on your province - residents of AB, BC, MB, QC and SK are exempt from the cap that applies elsewhere.
The Crypto-Asset Reporting Framework will make Canadian exchanges report your transactions to the CRA. It is in Bill C-31, before Parliament, not yet law. First reporting year would be 2027, so it does not apply to the 2026 return you file next spring.
This guide is for informational purposes only. Cryptocurrency is highly volatile - you can lose your entire investment. Never invest more than you can afford to lose. Regulatory information accurate as of April 2026 and may change.