Buy Ethereum in Canada
Ethereum made simple
Everything you need to know about Ethereum and how to start investing in it.
-$101.83 (-4.11%) past 24 hours
- Market Cap
- Circulating Supply
- 24h low - high range
- $2,354.64 - $2,489.87
Ethereum — or Ether — is the native asset of the Ethereum network. It’s currently the second most valuable cryptocurrency by market cap in the world (after bitcoin.)
The Ethereum network was created in 2013 by Russian-Canadian programmer Vitalik Buterin. It was built off existing blockchain principles to execute secure, anonymous transactions with cryptocurrency.
So, why the hype?
In a nutshell: Ethereum’s blockchain is more like a platform for cryptocurrency. Think of it like the foundation for a bunch of different coins and crypto applications. Ether (ETH) is the gas that fuels the Ethereum network.
Ether is tradable, but it’s important to note that it is more than just a simple cryptocurrency: it is a feature of a larger project that aims to create a global, decentralized blockchain network.
Why Wealthsimple Crypto?
Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?
- Sign up in minutes right from your phone or laptop
- Start trading crypto with as little as $1
- No account minimums
- No clunky dashboards — just one super simple app
- Best of all: you don’t need to be an expert in crypto or blockchain to get started
What can you do with Ethereum?
As a cryptocurrency, Ether is pretty standard — it allows you to securely and anonymously move money. There’s no centralized control over Ether, meaning anyone can access it. You don’t even need access to a bank account to receive ETH. All you need is a wallet and internet access.
Every time you use Ether, you’ll pay a small fee to use the Ethereum network. It helps secure and maintain Ethereum.
The list of use cases for Ether is growing pretty quickly. In addition to run-of-the-mill payments, you can now trade ETH with other tokens including Bitcoin, or even earn interest on your Ether.
Is Ethereum a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Ethereum or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
How we keep your Ethereum safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Ethereum prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Ethereum to your Wealthsimple account in just a few taps.
Other cryptos to explore
- 1 inch (1INCH)
- Celo (CELO)
More info about Ethereum
Want to take a deeper dive? Check out these articles about Ethereum and the world of crypto.
What is Cryptocurrency?
Cryptocurrencies are a type of digital asset that run on blockchain technology. Here’s everything you need to know.
Top Cryptocurrencies and Crypto Exchanges
Here’s how to buy and sell cryptocurrencies on crypto exchanges and other trading platforms.
What is Blockchain? The Ultimate Guide
A quick primer on the building blocks needed to understand the basics of blockchain
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading Ethereum with just $1. It’s that simple.
Ethereum is the blockchain network that underpins tons of decentralized finance (DeFi) coins and applications.
Although many folks use “Ethereum” to refer to the currency of the blockchain network, the actual name of the token is Ether (ETH).
There’s an unlimited supply of Ether in the world (unlike bitcoin, which is capped.) The current circulating supply sits at 119,353,890.48,252,626 ETH coins.
Most of the transactions involving ETH are within the Ethereum network — meaning ETH isn’t quite used as mainstream currency yet. Though there are some ecommerce or travel sites who are now accepting ETH as payment, there’s still a long way to go before ETH is treated like digital cash.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any Ethereum transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Ethereum’s current market cap is 289,120,950,328.
The current price for Ethereum in Canadian dollars is $2,375.20.
Buying Ethereum with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in Ethereum 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying Ethereum. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.