Table of Contents

Can I buy Crypto on Questrade?

Unfortunately users of the Questrade app in Canada cannot buy or sell cryptocurrencies like Bitcoin, Ethereum, Solana or any others. Their platform does not offer crypto trading services like you would find on traditional trading exchanges like Coinbase or Binance.

The only way Questrade users can get exposure to cryptocurrencies is through the Bitcoin ETF (The Bitcoin Fund). However, it is recommended that Canadian investors avoid ETFs because they are an expensive and inefficient way to get cryptocurrency exposure. The fees can be extremely high and you cannot withdraw the cryptocurrency into your personal storage.

‚Äć

How to buy Crypto without Questrade

The best way to buy Bitcoin and other cryptocurrencies in Canada without Questrade is through a trusted and regulated exchange under FINTRAC. One of the most popular exchanges in Canada that is regulated in secure is Bitbuy, because they offer a wide variety of assets like Bitcoin, Dogecoin, Shiba Inu, Cardano and others for very low fees.

Follow the guide below to start investing on Bitbuy.

  1. Sign up to Bitbuy
  2. Deposit Canadian Dollars from any bank account
  3. Select the cryptocurrency you want to buy
  4. Input the CAD amount and buy
Buy Crypto Questrade

‚Äć

Canadian Regulatory stance on Crypto

Canada is one of the more pro-cryptocurrency countries out of the top western countries and economies. The local regulatory authority FINTRAC has provided clear guidelines for digital asset exchanges to operate in the country, which provides safe and secure ways for Canadians to invest in cryptos.

FINTRAC did recently ban Binance from operating in Ontario, however other exchanges like Bitbuy have been given the green light throughout the country.

‚Äć
Trading and Bank Fees

The fees you need to consider when investing in cryptocurrencies are the deposit and trading fees. As outlined above, the Interac e-Transfer fee is a flat rate of 1.5% - while a Wire Transfer is lower at 0.5%.

The fees to trade on the Bitbuy platform are the lowest in Canada, starting at 0.1% for an instant buy or sell.

Visit Bitbuy
Posted 
February 11, 2022
 in 
Crypto Banks
 category

More from 

Crypto Banks

 category

View All

Get our latest market insights
directly to your inbox.

No spam ever. Read our Privacy Policy
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.