How to buy Bitcoin (BTC) with a debit card from Canada

Nilooka Dissanayake avatar
Written by   |  
Andrew Boyd avatar
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Updated 21 Oct 2022

Using a debit card to buy Bitcoin is fast and widely supported at many crypto exchanges.

Below you’ll find a complete guide to buying Bitcoin with a debit card — including exchanges that accept Canadian debit cards — and a step-by-step guide for new investors.

Unsure about what exchange to use?

Where to buy Bitcoin with a debit card

Coinberry

On website

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.
Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • Buy, sell, and hold over 250 cryptocurrencies in a beginner-friendly interface.
  • Regulated and publicly listed in the US, offering peace of mind on security and transparency.
  • Auto-invest lets you set recurring buys for dollar-cost averaging.
  • Coinbase Wallet is available for those who want full control of their crypto and NFTs

Pros

  • The interface is clean, simple, and ideal for beginners—one of the easiest ways for Canadians to get started with crypto.
  • Strong focus on security, with 2FA, cold storage, and insurance on custodial assets.
  • You can earn small amounts of crypto through educational mini-courses via Coinbase Earn.
  • Supports Apple Pay and Google Pay, making fiat-to-crypto purchases more convenient

Cons

  • Trading fees are high compared to other platforms—best for small, infrequent buys.
  • No advanced features like futures or margin trading.
  • Limited customer support options, and response times can be slow during peak periods.
Coinmama

On website

Coinmama

Highlights

  • Supports buying Bitcoin, Ethereum, and a small list of major coins.
  • Non-custodial — you must have your wallet, giving you full control of your crypto.
  • Instant crypto purchases with debit card, credit card, Apple Pay, or bank transfers
  • Global platform that's been operating since 2013, with a reputation for reliability and ease of use.

Pros

  • One of the fastest ways to buy crypto directly with Canadian cards.
  • Ideal for beginners who want quick, one-time purchases without dealing with order books or complex trading tools.
  • No account lock-ins or custodial risk—you're in charge of your assets from the start.
  • Offers 24/7 customer support, which isn’t common among global exchanges

Cons

  • Limited coin selection.
  • Higher fees than platforms that offer CAD funding or more trading options.
  • No selling option for Canadian users — it's a buy-only platform here. You’ll need another exchange to convert crypto back to fiat.

First time buying?

How to buy Bitcoin with a debit card

Step 1: Select a crypto exchange

To buy Bitcoin with a debit card, sign up with an exchange that supports deposits made with a debit card (most do).

You can compare different crypto exchanges here on Finty. All the exchanges listed on this page accept deposits made with debit cards.

When comparing crypto exchanges, important factors to consider include what the exchange’s commission is to buy Bitcoin, if there are any fees when depositing and withdrawing funds, and what tokens are available apart from Bitcoin.

You may be interested to compare other features like the ability to stake crypto with the exchange and yield a reward, get access to your account balance with a card, etc.

Step 2: Confirm your identity

After your account has been set up, verify your identity by providing your driver’s license, passport, or another form of government-issued ID. Some crypto exchanges also require an image of yourself holding the photo ID so they can verify it’s really you setting up the account.

Step 3: Decide how much to invest

Given that Bitcoin’s price is highly volatile, be careful about how much you invest in it. The general rule of thumb is that you should only invest what you can afford to lose.

Step 4: Deposit funds in your exchange account

Next, you can deposit funds in your exchange account. Using a debit card is typically the fastest way to deposit funds.

  • Not all banks allow their cards to be used to buy Bitcoin due to government regulations.
  • There are alternative funding options if your bank blocks transactions at crypto exchanges, but you still want to buy Bitcoin. For example, you could transfer funds to your PayPal account and use it to deposit funds at the exchange.

Step 5: Place an order

There are generally three different types of orders: market, trigger, or recurring.

Market orders execute immediately at the next available price and require practically no configuration whatsoever. By configuring a trigger order, you can set a target price at which you watch the order to be executed. You may be able to set up recurring orders to buy a certain amount of Bitcoin periodically, e.g. buy $100 of Bitcoin every month (if there are enough funds in your trading account at the exchange).

Step 6: Buy Bitcoin

Once the order of your choice has been configured, you can execute the transaction.

Still not sure?

Pros and cons

Pros

  • Fast and convenient. Buying Bitcoin with a debit card is faster than using a bank transfer.
  • Limits speculation. You can only buy as much as you have available to use in your bank account, limiting the risk of investing too much in a speculative and volatile asset.

Cons

  • Limited bank support. Not every bank permits their customers to use their own debit card to buy Bitcoin.
  • Less fraud protection compared to a credit card. Although debit cards are more widely accepted compared to credit cards, there is less consumer protection.
  • Transaction fees. Exchanges may charge a fee to process deposits made with a debit card.

Extra help

FAQs

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

Funds deposited into your exchange account using a debit card are typically available to use immediately.

Can I buy Bitcoin with a debit card anonymously?

You can purchase bitcoins with a debit card anonymously on decentralized peer-to-peer exchanges.

Can I buy other cryptocurrencies with a debit card?

Yes, you can buy other cryptocurrencies with a debit card. Once you have funded your trading account at the exchange, select the cryptocurrency you want to buy, fill out the order form, and complete the purchase.

As seen on

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