A modern take on Bitcoin — clarity, transparency, and structure in a complex world.

Beginner’s Guide to Bitcoin & Crypto in Canada

houseRoberto Velez Rios, PFP Mar 31, 2025

So, What Is Cryptocurrency?

Cryptocurrency is a digital form of money that runs on something called blockchain technology. It’s decentralized — meaning no government or bank is in charge of it.

Popular names like Bitcoin (BTC) and Ethereum (ETH) might sound familiar.

You can send crypto anywhere in the world without needing a bank, but here’s the catch: it’s high-risk, super volatile, and not as tightly regulated as traditional investments.

Is Crypto Legal in Canada?

Yep! It’s totally legal to buy, sell, and hold crypto in Canada. But that doesn’t mean it’s a free-for-all. The government has rules in place to protect investors and prevent fraud.

Here’s Who’s Watching the Space:

  • CIRO – Makes sure platforms act like proper investment dealers
  • CSA – Sets national rules and keeps the market fair
  • FINTRAC – Fights money laundering
  • CRA – Wants their share when it comes to taxes

How Do You Actually Invest in Crypto?

  1. Use a Registered Canadian Platform

    Stick with platforms that are regulated in Canada — that’s your safety net.

Some popular ones:

  • Bitbuy

  • Coinberry

  • NDAX

  • Wealthsimple Crypto

  • Shakepay

    These follow Canadian laws and include at least some basic investor protection.

2. Want a Simpler Option? Try Crypto ETFs

You can also get into crypto without owning the coins directly. Crypto ETFs (like Bitcoin or Ethereum ETFs) trade on regular stock markets and can be held in your TFSA or RRSP.

Examples:

  • Purpose Bitcoin ETF (BTCC)
  • Evolve Bitcoin ETF (EBIT)
  • CI Galaxy Ethereum ETF (ETHX)

The Risks — Keep These in Mind

  • Wild Price Swings: Crypto can go up or down 10% in a day — sometimes more.
  • No Insurance: Unlike your bank account, there’s no CDIC protection here.
  • Scams & Hacks: If your private key is stolen, your crypto is gone.
  • Tax Rules: Every buy, sell, or trade might trigger taxes.

How Does the CRA Tax Crypto?

  • If you sell, trade, or convert crypto → it’s a capital gain or loss.
  • If you’re mining or staking, it might count as business income.

Either way, the CRA expects you to track and report everything.

Should You Invest in Crypto?

Maybe — but only if it makes sense for you.

Crypto is not a get-rich-quick thing. It takes:

  • A solid financial foundation
  • A clear understanding of the risks
  • Only using money you can afford to lose

As your coach, I’ll help you figure out if crypto has a place in your bigger financial picture — without the hype.

Let’s Chat Before You Click “Buy”

Before jumping in, we’ll look at:

  • Do you have a steady cash flow?
  • Is your emergency fund topped up?
  • Are your foundations strong (like debt, savings, insurance)?

If all signs point green, we can talk about how crypto might (or might not) fit into your plan.

⚖️Disclaimer:

This document is for educational purposes only and does not constitute financial advice or product recommendations.

I do not sell, promote, or endorse any cryptocurrency, exchange platform, or investment product. Always consult with a licensed investment advisor or tax professional before making financial decisions.