Funding methods in Canada: how to fund your crypto account

• Interac e-Transfer is a common funding method for Canadians because it’s typically fast and convenient.
• Wire transfers can be used for larger amounts, but they can take longer and may involve bank fees.
• Never follow funding instructions sent by unsolicited messages.
• Always verify information on the official platform site.

Key takeaways: Canadians typically fund crypto accounts by transferring crypto held elsewhere, or via Interac e-Transfer, EFT, or wire transfers. The most common funding mistakes include wrong recipient details, using the wrong crypto network, or falling victim to spoofed instructions. Always confirm supported funding methods, deposit instructions, and any limits inside the platform account before sending funds.

Interac e-Transfer: A Canadian bank transfer method commonly used for retail deposits and withdrawals.
EFT: An electronic bank transfer typically used for larger deposits and withdrawals.
Wire transfer: A bank-to-bank transfer, considered an alternative option to an EFT.
Crypto deposit: sending crypto from an external wallet or platform to a new platform’s deposit address.
Network fee: A blockchain fee paid to the network to process a crypto transfer. This is separate from platform fees.

Most Canadians fund their crypto account in one of two ways: depositing CAD through a bank transfer method, or depositing crypto from an external wallet or platform. CAD funding is generally used when starting from “cash in the bank,” while crypto deposits are used when a user already holds crypto elsewhere.

Interac e-Transfer funding means sending CAD from a Canadian bank account to a crypto platform using Interac rails. Interac is a Canadian interbank network and payment system that connects financial institutions. Availability depends on a user’s bank, account setup, and bank-imposed limits.

Interac e-Transfers are widely used because it’s familiar, straightforward, and often processes quickly.
 

EFT funding typically refers to a direct electronic bank transfer that can be used for deposits and withdrawals, depending on the platform’s setup. EFT may take longer than Interac e-Transfer, but it can be useful for users who prefer bank-to-bank transfers, or those who are funding larger amounts over time. Some platforms may describe EFTs as “direct deposit” or “electronic funds transfer.”

A wire transfer is a bank-to-bank transfer. Wires can be useful for high-value deposits, but they may involve bank fees, cutoff times, and additional processing steps.

Users should expect wire deposits to take longer than Interac e-Transfers and may require careful attention to reference numbers or instructions.
 

Yes. Many platforms allow users to deposit supported crypto assets by sending them to a deposit address shown inside the platform account.

• Users need to be aware of two major risks:
• Sending crypto to the wrong address.
• Sending crypto on the wrong network (for example, using a different blockchain than the platform expects).

In many cases, these errors are difficult if not impossible to reverse.
 

Some platforms (especially outside of Canada) may offer credit card purchases or third-party payment providers. These methods can come with high fees and added fraud controls, and they may not be available on all regulated platforms serving Canadians.

For many Canadians, bank-based methods (Interac, EFT, wire) are the most common ways of funding a regulated crypto trading account.
 

Funding time depends on the method and the platform’s processing. 

• Interac e-Transfers are often the fastest and may take up to 30 minutes to complete.
• EFTs may take one to three business days depending on the bank flow.
• Wire transfer timing depends on bank cutoff times and may take one or more business days.
• Crypto deposits: timing depends on the blockchain’s confirmation speed and network congestion. Some transfers may be completed within minutes.

It is important to understand that no platform can control blockchain confirmation speed and no platform can eliminate bank processing delays.
 

Sometimes. Some banks may charge fees for certain transfer types or account tiers, while others include transfers as part of an account plan.

As of February 2026, there is no charge for users to deposit Canadian dollars or crypto on Ndax. However, a user’s bank or blockchain may impose a fee. 

Ndax supports Canadian funding rails and crypto deposits. Users fund their account by following the deposit instructions on Ndax’s official website and inside their Ndax account. As of February 2026, supported deposit methods on Ndax include: i) crypto, ii) Interac e-Transfers, iii) internal transfers, and iv) wire transfers. EFT availability varies by platform, so users should confirm which bank transfer options are supported inside their account before sending funds.

A major red flag is being pressured to act quickly or follow instructions from an unsolicited email, text, social media message, or phone call. Scam attempts may involve impersonation and urgent language to trick a user into sending funds to the wrong place.

A second major red flag is funding instructions that don’t match what is shown on the platform’s official website.
 

Funding rails differ by country. For example, Interac e-Transfer can only be used by Canadian users with an account at a participating Canadian financial institution.

Crypto assets are not covered by the Canadian Investor Protection Fund (CIPF) or deposit insurance. Ndax operates within Canadian regulatory requirements. Canadians can check whether a crypto platform is authorised to do business with Canadians using the Canadian Securities Administrators’ list.

What is the easiest way to fund a crypto account in Canada?
There is no single easiest way, but Interac e-Transfer is commonly used because it’s familiar to Canadians and typically convenient.

Can a user fund a crypto account using someone else’s bank account?
Typically, no. Most regulated platforms require funding to come from an account in the verified user’s name.

What is the biggest mistake Canadians make when depositing crypto?
Sending crypto on the wrong network or to the wrong address is one of the most common avoidable errors.

Do users need to fund with CAD?
No. If a user already holds crypto elsewhere (in another platform or wallet), they can often fund by depositing crypto directly. Users need to check first whether the platform supports that asset and network.