How to buy Polkadot (DOT) from Canada

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Updated 29 Aug 2022
  • Polkadot is the brainchild of Gavin Wood, the co-founder of Ethereum.
  • Its energy efficient design makes it a more eco-friendly investment.
  • Polkadot's value has the kind of volatility that appeals to active traders.

You can buy Polkadot in a number of ways: using an exchange, via a broker, P2P, etc.

If you want to buy Polkadot in Canada today, this guide will take you through the entire process from start to finish.

Where to buy Polkadot

Bitbuy

On website

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.
Ndax

On website

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.
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.
Crypto.com

Not available for application via this website

Crypto.com

Highlights

  • Trade 250+ cryptocurrencies with CAD support, including Bitcoin, Ethereum, and altcoins.
  • Use the Crypto.com Visa Card to spend your crypto anywhere Visa is accepted, with tiered cashback and perks.
  • The mobile app offers everything in one place: buy, sell, stake, track, and earn.
  • Strong security setup with cold storage, multi-factor authentication, and real-time monitoring.

Pros

  • Fully supports CAD deposits and withdrawals via Interac e-Transfer or wire, avoiding currency conversion fees.
  • Offers competitive rates for staking and crypto interest on over 30 coins, including stablecoins.
  • Detailed price alerts, real-time charts, and DCA tools help users stay informed and consistent.
  • NFT marketplace lets Canadians explore and collect digital art without leaving the app.
  • Visa Card offers airport lounge access and Spotify/Netflix rebates at higher tiers, depending on CRO stake.
  • Licensed in Canada with regulatory compliance through FINTRAC, giving added confidence

Cons

  • Some card benefits require CRO staking, which may not suit casual users or those focused on liquidity.
  • Crypto.com's platform can feel overwhelming for newcomers due to its many features.
  • Customer service is live chat–only and may take time during high-demand periods
  • Lacks educational resources.
Newton

Not available for application via this website

Highlights

  • Trade over 70 cryptocurrencies with CAD support and spreads as low as 0.40%.
  • No trading fees, no deposit or withdrawal fees.
  • Quick account setup with Interac e-Transfer and bank transfer funding.
  • Regulated by FINTRAC and OSC.

Pros

  • Strong focus on low-cost trading.
  • Intuitive mobile and web platforms designed for speed and simplicity, even for first-time traders.
  • Real-time price tracking, limit orders, and auto-withdrawals support hands-off portfolio management.
  • Offers carbon-neutral trading by offsetting the environmental impact of crypto transactions.
  • Crypto assets are stored with institutional-grade custody provider Balance.

Cons

  • Limited advanced trading tools may not suit users seeking margin or derivative trading.
  • The selection of coins is smaller compared to global exchanges.
  • Customer support is responsive but currently limited to email and chat.
Wealthsimple Crypto

Not available for application via this website

Wealthsimple Crypto

Highlights

  • Buy and sell over 50 cryptocurrencies directly from a user-friendly app.
  • Regulated by the Canadian Securities Administrators (CSA) — custodial assets held with Gemini.
  • Zero deposit and withdrawal fees for CAD funding via Interac e-Transfer or bank transfer.
  • Seamlessly integrated into Wealthsimple’s suite of financial tools including investing, savings, and tax filing.

Pros

  • Ideal for new investors.
  • Real-time price tracking and instant trades are available with no minimum balance.
  • Automatically tracks gains and losses for tax time with integrated reports.
  • Responsive local support and a growing knowledge base tailored to Canadian crypto laws and concerns.
  • Registered with FINTRAC and CIPF-backed, providing added regulatory comfort for Canadian users.

Cons

  • Charges a spread of up to 2% per transaction, which is higher than some global platforms.
  • Crypto withdrawals to external wallets are limited.
  • No advanced charting tools or trading features for technical users.

Step 1: Choose an exchange where you can buy Polkadot

Many exchanges have listed Polkadot since it is one of the biggest coins by market cap. Finding an exchange where you can buy Polkadot will not be difficult.

However, when you are choosing a crypto exchange, there are several things to take into consideration. For example, an exchange should be extremely secure, so look for features such as 2FA and cold storage for digital assets. Also take time to research fees and spreads for trades, fees to deposit and withdraw funds, etc. since these can vary a lot.

Other features to consider if you are more advanced include the ability to trade on margin, staking, borrowing against your holdings, etc.

Step 2: Sign up and get verified

Once you've picked your preferred exchange, you'll have to create an account and verify your identity.

Most exchanges require your full name, date of birth, and street address. Although there are some exchanges where you don't have to provide more details on your identity and you can trade anonymously, many exchanges are regulated and therefore need to verify your identity. Therefore, it's likely that you'll need to provide a copy of an official form of ID. Often you must take a selfie while holding it.

Whilst verification is a minor inconvenience, it does make your account more secure.

Step 3: Fund your account

Your exchange account can be funded in a variety of ways. If you have cryptocurrency in a wallet at another exchange, you can transfer that to your new exchange wallet and then trade it for Polkadot.

But for most people who are new to crypto, the easiest funding option is to transfer fiat money (CAD) from a bank account or with a debit or credit card. Certain exchanges accept Interac e-Transfer and PayPal, etc. Note that it could take several days for funds to clear into your account, especially when funding a new account for the first time. Some exchanges require a minimum amount to be deposited when opening an account.

Step 4: Set your budget

Decide how much Polkadot you want to buy and stick to it. Altcoins like Polkadot can be extremely volatile, so you should only invest money you won't miss if your trade makes a loss.

Step 5: Buy some Polkadot

If you are new to trading, the market order is the easiest way to get started. Some exchanges call this instant buy, meaning you will buy Polkadot at the current market rate. Keep in mind that there can be some slippage in a fast-moving market with this order type.

Most exchanges also have the ability to order based on triggers, giving you a way to automatically buy Polkadot when certain conditions are met.

Recurring orders are also available on many exchanges. This gives you the ability to purchase Polkadot on a regular basis that you specify, i.e. $100 every month, and benefit from dollar cost averaging.

Where to store your Polkadot

After buying Polkadot, you can hold your assets in the exchange's wallet. This keeps it convenient so you can trade out of your position very quickly.

If you would prefer a more secure, long term way to store your Polkadot and other crypto assets — perhaps because you have substantial holdings — consider a hardware wallet. These are cold, meaning they are disconnected from the internet so they can't be hacked. Their downside? If you lose or forget the key, you're locked out.

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