How To Buy Ethereum (ETH) In Canada: A Updated Guidance For 2024
By:W, LeahSpot Ethereum ETFs are scheduled to begin trading on July 23, aligning with major Bitcoin Conference, as reported by Bloomberg Senior ETF Analyst Eric Balchunas said in a post on X. Following the announcement, Ethereum swiftly made reaction to this news, jumping by more than 6%. Based on the positive news and technical analysis, the near-term outlook for the Ethereum (ETH) price is bullish.
As of writing this article, Ethereum (ETH) trades at a price of $3,479.62. Notably, The hype around spot Ethereum ETFs is clearly reflected in the crypto asset’s market performance with ETH’s price increasing by 15% over the last week, and 80% in the past year as of CoinGecko. Based on such bullish sentiment, it may be a perfect time to buy Ethereum (ETH) now in Canada. Then, what is Ethereum (ETH)? How to buy Ethereum (ETH) in Canada? Next, we will take a close look at this coin and offer step-by-step guidance for buying Ethereum (ETH) in Canada.
BTCC, one of the longest-running exchanges in the world, offers over 300 virtual currency futures contracts with leverage up to 225Χ, if you are interested, you can start your crypto trading journey by signing up for BTCC.
＼Deposit and Receive Up to 10,055 USDT!／
What is Ethereum (ETH)?
Ethereum (ETH), one of the most dominant coin in the crypto market, only after Bitcoin. Generally speaking, ETH is the native digital currency of a decentralized, open-source computer network known as the Ethereum Network. Comparing with Bitcoin, ETH shared many similarities. Both coins rely on underlying networks which have associated blockchains, use “private keys” and “wallets” to enable transfers and track ownership, facilitate the creation of new supply via “mining”, include software source code that governs the cryptographic operations that verify and secure transactions and allow participants in the network to modify the open-source software and persuade other users and miners to adopt the proposed modification.
Like BTC, ETH can serve as a means of exchange and/or a store of value. Ethereum draws great attentions from developers as its applications are utilized without central control, downtime, fraud, or third-party interference. Today, Ethereum (ETH) has gained growing popularity with its multiple purposes ranging from payments to investment to innovation.
The following sets forth the ETH to USD Chart
For more information about Ethereum (ETH), please visit BTCC Ethereum (ETH) Quote Page.
ETH USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can directly click the button below to trade Ethereum (ETH)⇓
＼Deposit and Receive Up to 10,055 USDT!／
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Considerations Before Buying Ethereum (ETH) in Canada
If you are interested in buying Ethereum in Canada, it is now easier than ever as there are more trustworthy Canadian specific options and more international exchanges offering options to Canadian residents.
After know the basic information about Ethereum (ETH), you may want to get started. But wait, there are still several considerations you need to think about. These considerations are important in offering you help to choose the right time, and the right service to make your Ethereum purchase.
Cryptocurrency Regulation: government regulations on cryptocurrency vary from country to country. It’s not illegal to buy/sell Ethereum (ETH) in Canada, but this cryptocurrency isn’t formally regarded as legal tender in the country. It’s also worth noting that there are tax implications for buying/selling (or trading) Ethereum (ETH) as the CRA (Canada Revenue Agency) regards income from trading ETH and other cryptos as capital gains or business income subject to taxation. Therefore, such income must be declared when filing returns.
Market factors:as a cryptocurrency, Ethereum (ETH) is quite volatile in its price, depending on many market factors, like supply and demand, market sentiment, social media, etc. Besides, you must be fully aware that any investment carries risk, thus making sure you know all the news and make detail analysis before making any investment option.
Choosing right exchange: selecting a best crypto exchange is crucial in the process of trading Ethereum (ETH). when comparing exchanges, you need to compare and think from different metrics, such as fees, supported cryptocurrencies, easy of use, customer service, etc. A right exchange would greatly save your energy, time and cost.
How to Buy Ethereum (ETH) in Canada?
Once you decide to buy Ethereum (ETH), all you’ll need is a smartphone or computer in the whole process. There are four major steps in buying Ethereum (ETH):
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Step 1: Compare crypto exchanges
Choosing a most suitable exchange is the most important step to start your trading journey. However, due to the rapid development of cryptocurrency market, large number of crypto exchanges emerged, making it a overwhelming task for investors to select a best exchange based on their demand and preference.
For more information about selecting a best crypto exchange in Canada, please read related article: How to Choose Best Crypo Exchanges in Canada
Step 2: Cpen an account
If you are a novice trader in Canada, the second step is create an account on the crypto exchange you select. The most common step about this step is verify your email address and identity.
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Step 3: Fund your account
Once you create an account, you need to make a deposit. Usually, there are multiple ways to make a deposit,like debit card, credit card, wire transfer, or Bitcoin.
Step 4: Buy Ethereum
The last step is just use your funds to purchase ETH.
＼Deposit and Receive Up to 10,055 USDT!／
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Where to Buy Ethereum (ETH) in Canada?
Due to the wide adoption of cryptos and strong government support for this digital asset in Canada, there are all kinds of crypto exchanges available in this country. If you want to trade Ethereum (ETH) in Canada, the top place to start your trading journey is BTCC, one of the longest-running exchange in the world. As a old exchange enjoy good reputation, BTCC is more reliable.
BTCC is among the best and safest platforms to buy Ethereum (ETH). The reasons why we introduce BTCC for you summarize as below:
Industry-leading security
BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.
High liquidity & volume
BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 300 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.
Extremely low fees
Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.
High and rich bonus
BTCC holds all kinds of campaigns where investors can participate to win exciting bonus. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.
Excellent customer service
BTCC also gains great reputation in terms of customer support. If you are confused or have problem in the process of trading currencies, you can obtain customer support via email and live chat, BTCC offers 24/7 online customer service for you.
If you want to know more about BTCC exchange, please read: BTCC Exchange Review 2024
＼Deposit and Receive Up to 10,055 USDT!／
How to Trade Ethereum (ETH) Futures on BTCC?
BTCC offers Ethereum (ETH) Perpetual Futures with leverage up to 500×, you can trade Ethereum (ETH) Perpetual Futures Contract on BTCC at the most competitive price and highest security.
The following sets forth the guidance for trading Ethereum (ETH) futures on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.
Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.
Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the Ethereum (ETH) trading pair.
You can also click the button below to directly enter the Ethereum (ETH) trading page⇓
Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
- SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.
Step Five: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Six: choose the lot size and set the SL/TP price .
Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Eight: click the buy or sell button, and the Ethereum (ETH) futures contract order is completed.
＼Deposit and Receive Up to 10,055 USDT!／
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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