How to Buy and Sell Crypto in Canada: A Beginner-Friendly Guide

The Canadian crypto market has developed significantly in recent years, with clearer rules and supervisory frameworks now in place. Platforms operating in compliance with securities laws are overseen by the Canadian Securities Administrators (CSA) and, where applicable, the Canadian Investment Regulatory Organization (CIRO), while FINTRAC monitors anti–money laundering and anti–terrorist financing compliance. This coordinated approach is helping to provide Canadians with more structured and compliant ways to access digital assets, though risks remain and the regulatory framework continues to evolve.

Today, platforms built on Canadian soil, such as Ndax, developed in Alberta and operated by Canadians, for Canadians, offering easy funding options and transparent fees. Whether you're intrigued by recent launches like Bitcoin or Ethereum ETFs, or simply curious about what digital assets have to offer, the interest in crypto as an alternative investment continues to gain traction.

This guide is designed for Canadians who have already funded their Ndax crypto account and are ready to make their first move, whether that’s buying Bitcoin, placing a simple order, or eventually withdrawing to your bank or sending crypto to another wallet. Let’s walk through everything you need to know.

If you’ve already deposited Canadian dollars into your trading account, you're ahead of the game. Here are the most common methods to deposit into Ndax:

Interac e-Transfer

Interac e-Transfer is the most popular method for Canadians to deposit funds into a crypto platform. It’s:

• Fast, with most deposits credited in under 30 minutes
• Ideal for dollar-cost averaging (DCA) or making smaller, frequent buys

However, limits do apply. These vary by banking institution but generally hover around:

• $3,000 per day
• $10,000 per week

This makes e-Transfer a cost effective funding method for casual traders.

Wire Transfers

For larger deposits, wire transfers are generally the most suitable option.

• No deposit limit, making them great for high-value buys
• May incur fees between $25–$50, depending on your bank
• Processing time: typically 1–2 business days
• Some banks may initiate security checks, especially for first-time wires

For fewer, larger investments, wire transfers are more suitable. However, they typically involve higher fees. 

Most platforms offer two beginner-friendly ways to place an order: market orders and limit orders. Each has its use case depending on how involved you want to be with price movement.

Market Orders (Quick and Easy)

A market order buys or sells crypto immediately at the best execution reasonably available.

• Perfect for beginners
• You enter the amount of crypto (or CAD) you want to buy
• The order is executed right away

Limit Orders (More Control)

With a limit order, you set the minimum price you’re willing to sell for or the maximum price you’re willing to buy for, the trade will execute at that price or better.

• You set the price
• The order is only executed if the market hits that price or better
• Gives you more control over entry and exit points

This is ideal for users who want to avoid slippage or wait for a more favorable price. 

Interested in advanced order types like stop-loss or trailing stop orders? Check out our blog on Crypto Order Types to learn more. 

Once you've sold, you might want to either withdraw your CAD back to your bank account.

Withdrawing CAD to Your Bank

Ndax supports Canadian dollar withdrawals via:

• Interac e-Transfer: Typically used for lower amounts, with a $3,000 single-send limit and a $10,000 daily limit, and a $1.50 fee per withdrawal. Typically received within 30 min.  
• Wire Transfers: No limits but carry a $4.99 fee per withdrawal. Processing time ranges from same day to 1–2 business days depending on your bank. Make sure your banking information is up-to-date to avoid delays. 

1. Go to your Wallet 
   Navigate to the Wallet section of your crypto platform.
2. Select the Asset 
   Choose the crypto you want to send (e.g., USDC, BTC, ETH, etc.).
3. Click "Send" 
   Tap or click the Send button to initiate the transfer process.
4. Select the Network 
   Choose the blockchain network you want to use (e.g., ERC-20, BEP-20, Bitcoin).
   Important: The network must match the recipient's wallet address, sending on the wrong network can result in permanent loss.
5. Enter the Wallet Address 
   Paste the recipient’s wallet address. 
   Important: Always double-check the address — a mistake here cannot be undone.
6. Enter the Amount 
   Input how much crypto you'd like to send.
7. Review and Confirm 
   Carefully review the transaction details including the asset, amount, address, and network.
8. Two-Factor Authentication (2FA) 
   Enter your 2FA code for added security.
9. Confirm via Email 
   You’ll receive an email confirmation to approve the transaction. Click the link to finalize. 

Once confirmed, your crypto will be broadcasted to the blockchain and typically arrives within minutes (depending on the network's congestion and coin used).

Tip for Beginners: Start by sending a small test amount to a new wallet address if it's your first time, it’s a great way to confirm everything’s set up properly before sending a larger amount. 

If you’ve already deposited funds, your next step into crypto is easier than you think. Whether you’re making your first Bitcoin buy, experimenting with Ethereum, or setting up a long-term investment strategy, it starts with placing a simple market or limit order.

Crypto trading in Canada is more accessible, regulated, and beginner-friendly than ever. With secure funding options, flat fees, and compliance-first platforms, you’re in control of how you want to engage with digital assets.