How to buy Bitcoin (BTC) with a bank transfer from Canada

A bank transfer is one of the most hassle-free and inexpensive ways to buy Bitcoin. There are many brokers that accept funds via bank transfers.

Scroll down for our step-by-step guide to buying Bitcoin with a bank transfer in Canada.

Unsure about what exchange to use?

Where to buy Bitcoin with a bank transfer

On website

Bitbuy

Highlights

Get a $40 bonus when you sign up via Finty.
CAD deposits are free, and you can withdraw via Interac e‑Transfer without paying extra.
Choose between Express trades for speed or Pro trades with lower fees and more control.
Regulated in Canada, Bitbuy is registered with the OSC and FINTRAC — making it one of the more trusted local platforms.

Pros

Fee discounts kick in when you trade more — helpful if you’re regularly moving large amounts.
No charge to deposit crypto or CAD, and withdrawing CAD through Interac is also free.
Most digital assets are kept offline in cold storage with regular security audits.
The Pro platform supports advanced order types, charts, and real-time execution — ideal if you’re looking to step up your trading

Cons

Express trades can be costly, especially if you’re just making small or occasional transactions.
Crypto withdrawals (especially ETH or ERC-20 tokens) can get expensive.
Coin selection is relatively limited compared to global platforms.

On website

Ndax

Highlights

Get $10 when you sign up and deposit at least $100 into your account.
Quick deposits and withdrawals via Interac e-Transfer and wire.
Low flat trading fee of 0.20% across all pairs, making costs predictable.
Built for Canadians, with CAD support and compliance with Canadian banking standards.
Advanced trading features like limit orders, recurring buys, and real-time charting for more control.

Pros

You can fund your account with CAD through Interac, bank transfer, or wire — no need to convert currencies.
Offers a clean, intuitive interface that’s friendly to both beginners and experienced traders.
Supports a solid list of popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, and more.
Cold storage is used to keep the majority of client funds secure offline.
Registered with FINTRAC and held to Canadian AML standards, giving it strong credibility locally.

Cons

The flat 0.20% trading fee is competitive but not the lowest in the market.
No staking or interest-earning options, which could matter to users looking for passive income.
Its mobile app works well for basic tasks, but lacks some of the more advanced charting tools on desktop.

On website

Coinberry

Highlights

Register in just 60 seconds and start investing with as little as $50.
No CAD deposit and withdrawal fees.
Coinberry is insured, FINTRAC registered & PIPEDA compliant and is the only digital asset platform trusted by Canadian Government municipalities.

Pros

Easy sign-up process and instant verification.
No fees to deposit or withdraw fiat.
There is a $200 million crypto asset insurance.
Easy to use mobile app.

Cons

Limited choice of altcoins.
High trading spreads.

First time buying?

How to buy Bitcoin with a bank transfer

Step 1: Choose what exchange to use

The first step is to open an account with an exchange that supports Bitcoin and accepts deposits via a bank transfer.

It’s easy to compare crypto exchanges with Finty. Things to consider include their fees to trade, deposit and withdraw fiat, and available coins.

Step 2: Verify your account

Once you have completed your account setup, you’ll need to verify your identity. This typically requires proof of identification, such as a driver’s license.

Step 3: Decide how much to allocate

Bitcoin is a volatile asset that is notoriously difficult to forecast, oscillating from bull runs to bear markets.

It’s important to keep this volatility in mind and only allocate what you can realistically afford to an investment in Bitcoin.

Step 4: Deposit funds in your account

Bank transfers are one of the most widely-supported methods of depositing funds in your account. Be careful when setting up the transfer so the funds are sent to the correct account.

Step 5: Configure an order

After transferring funds to your account, you can configure an order to buy Bitcoin.

Most crypto exchanges offer a choice of orders. Market buys are the easiest way to buy Bitcoin. They require very little, if any, configuration. Once submitted, your exchange will buy at the next available price.

You can set up a trigger order to buy Bitcoin at a target price or, alternatively, set up a recurring order to buy more Bitcoin on a regular basis. You’ll need to make sure you have adequate account funds to execute this strategy.

Step 6: Buy

With everything completed, fill out the order form and buy Bitcoin.

Still not sure?

Pros and cons

Low deposit fees. Fees charged by exchanges to deposit funds with a bank transfer are significantly lower than they would be to do so with a credit card.
Widely supported. Bank transfers are supported by practically every crypto exchange.
No interest. Unlike credit card payments, bank transfers are drawn from funds you already have, so you are less likely to get into debt.
Multiple options. Various types of bank transfers are available including INTERAC e-Transfer and SWIFT.

May have a longer processing time. Bank transfers can take several days to clear into your account.

Extra help

FAQs

How long does it take for funds to transfer using a bank transfer?

It can take several days for funds to clear into your exchange account depending on the type of bank transfer used.

Can I buy Bitcoin with a bank transfer anonymously?

Yes, you can purchase bitcoins with a bank transfer anonymously on some platforms.

Can I buy other cryptocurrencies with a bank transfer?

Yes, you can buy other cryptocurrencies with a bank transfer. After funding your account, select the desired cryptocurrency and execute the transaction.