If you’re looking to buy or sell a USD Coin (USDC) in Canada, you’ve come to the right place!
USDC is a stablecoin that is pegged to the US dollar, making it a great choice for those looking to store value or make international payments.
There are a few different exchanges that allow you to buy and sell USDC in Canada, and we’ve listed them below.
In this blog post, we’ll talk about how to buy and sell USDC in Canada using a variety of different crypto exchanges. So whether you’re looking for the best price or the most convenient platform for trading USDC in Canada, we’ve got you covered.
What is USDC?
USDC stands for US dollar coin. It is one of the major stablecoins out there that was launched in 2018 to provide 1:1 value to the US dollar. This means that the value of your USD coins is equal to the value of the US dollars and vice versa.
Besides their safety over other crypto coins, USD coins can also earn you interest when you stake them over some time.
In addition, you can use USDC to make fast crypto transfers, purchases, and convert your crypto coins to USD.
As a non-volatile asset, USDC helps you maximize the value of your crypto coins while avoiding fluctuations.
Now that you know what USDC entails, it’s time to know how to buy it in Canada.
How to buy USDC in Canada
The easiest way to buy a USD Coin in Canada is through a cryptocurrency exchange. There are many different exchanges that list USDC, and you can buy it with CAD or another cryptocurrency.
The exact steps may vary from one crypto exchange to the other, but here are the general steps on how to buy USDC in Canada:
- Sign up for an account on the chosen exchange.
- Verify your identity by providing some personal information and proof of ID.
- Deposit CAD or other cryptocurrencies into your account. You can do this via Interac e-Transfer, bank transfer, wire transfer, or credit/debit card.
- Select USDC from the list of available cryptocurrencies and click “Buy”.
- Enter the amount of USDC you want to purchase and review the transaction details.
- Click “Confirm” to complete the purchase.
- Withdraw your USDC to a wallet of your choice.
And that’s it! These are the general steps on how to buy USDC in Canada.
If you want to sell your USD Coin, the process is similar to buying it. Just log in to the crypto platform, transfer the USDC from your wallet to the platform, select “Sell USDC”, enter the amount you want to sell, review the transaction details, and confirm the sale.
The proceeds from the sale will be deposited into your account in CAD or another cryptocurrency.
Where to buy USDC in Canada
USDC is a popular cryptocurrency that is available to trade on several crypto exchanges and brokerages.
Here are a few of the best crypto exchanges that allow you to buy and sell USDC in Canada:
1. Bitbuy
- # of coins: 17
- Fees: 0.10-0.20% trading fee, free crypto deposits and crypto withdrawals fees vary. CAD Deposit and withdrawals varies between 0.50% to 1.50% depending on the type.
- Sign-up bonus: $40 bonus with a first deposit of at least $250
First on this list of where to buy USDC in Canada is Bitbuy.
Bitbuy is one of the most secure and trusted crypto exchanges in Canada. Since it was founded in 2016, it has been providing Canadians with an easy way to trade bitcoin, Ether and many other cryptocurrencies.
The crypto exchange is the first in Canada to be registered as a restricted dealer and marketplace with Ontario Securities Commission.
As a new Bitbuy user, you’ll get a $40 sign bonus when you sign up using this referral link and deposit at least $250 for your first deposit.
Learn more: Bitbuy Review
2. Newton
- # of coins: 60+
- Fees: $0 trading fees, deposit fees and withdrawal fees. Spread of up about 0.70% applies to quoted prices
- Sign-up bonus: $25 bonus when you trade a minimum of $100
Newton is a household name in the Canadian crypto market that offers over 60 coins including USD coins.
Regulated by FINTRAC, Newton distinguishes itself among other Canadian crypto exchanges by offering access to free trading, free deposits and withdrawals.
When you sign-up on the exchange with our referral link and trade at least $100, you will get a $25 welcome bonus.
Once you sign-up on the exchange, you can navigate to the search bar and search for “USDC” to buy the stable coin.
Learn more: Newton Review and Referral Code
3. NDAX
- # of coins: 31
- Minimum price: $10
- Fees: Trading fees = 0.20%. Deposits fees = $0. Withdrawal fees = C$4.99
- Sign-up bonus: $10 bonus when you deposit at least $100
NDAX, officially National Digital Asset Exchange, is another FINTRAC-regulated crypto exchange in Canada that supports 31 coins.
All you need is $10 to buy USDC on NDAX. The interesting thing is that you will get the same $10 as a welcome bonus on NDAX when you sign-up with our referral link and deposit a minimum of $100.
While NDAX charges trading and withdrawal fees, it offers access to free deposits and tight spreads.
Learn more: NDAX Review and Referral Code
4. Netcoins
- Fees: Trading fees = $0. Deposit fees = $0 CAD withdrawal fees = $0. Crypto withdrawal fees = variable
- Sign-up bonus: $60 bonus when you trade a minimum of $100
Netcoins is Canada’s pioneer crypto exchange that has been around since 2014. Besides USDC, you can also access 10 other coins on Netcoins.
While the exchange has limited coins, it allows you to trade crypto with no trading fee, deposit fee and withdrawal fees.
Notably, Netcoins has one of the highest welcome bonuses out there. As a Wallet Bliss reader, you will get a $60 bonus when you sign-up on the exchange with this link and execute a minimum of $100 trade.
Learn more: Netcoins Review & Referral Code
5. CoinSmart
- # of coins: 16
- Fees: Trading fees: 0.20%. $0 Deposit fees via bank account and wire transfers. Withdrawal fees of 1% for wire transfers and bank transfers. Fees for crypto withdrawals varies.
- Sign-up bonus: $20 bonus when you make your first $100 deposit
CoinSmart is one of the leading crypto exchanges in Canada that’s regulated by FINTRAC and OSC. The exchange provides access to 16 coins including USD coins.
When you sign-up for CoinSmart with our referral link, you will get a $20 bonus upon funding your account with a minimum of 100 CAD.
After signing up and funding your CoinSmart account, you can then purchase the USD coin through bank transfer, credit card or your existing coins.
Learn more: CoinSmart Review and Referral Code
6. Crypto.com
- # of coins: 250+
- Fees: Trading fees of 0.04% to 0.4%. Deposit and withdrawal fees vary depending on the method used
- Sign-up bonus: $25 bonus for Crypto.com app and up to $50 for Crypto.com Exchange.
If you’re looking for a foreign crypto exchange to buy USDC in Canada, Crypto.com is one of the top options to consider.
As a Hong Kong-based crypto exchange regulated by the U.S. Securities and Exchange Commission (SEC), Crypto.com offers access to low-price USD coins in its collection of over 250 coins.
When you join Crypto.com with our referral link, you will get a $25 welcome bonus upon funding your account.
Unlike other crypto exchanges, Crypto.com allows you to stake your USDC and earn up to 8% token rewards.
Learn more: Crypto.com Referral Code & Promotion
7. Binance
- # of coins: 500+
- Fees: Trading fees as low as 0.1%. Deposit and withdrawal fees vary
- Sign-up bonus: 20% commission rebate + up to $100 bonus
Binance is a Seychelles-based crypto exchange that’s regulated in Canada by FINTRAC. Based on its number of coins and high trading volume, the exchange is considered the world’s largest crypto trading platform.
Binance supports over 500 coins including USD coins. And when you save your USDC in Binance, you will get a flexible interest of 1.20%.
When you sign-up on Binance with our referral link, you will earn a 20% commission rebate for a lifetime.
Learn more: Binance Referral Code
8. Coinbase
- # of coins: 100+
- Fees: Variable trading, deposit and withdrawal fees
- Sign-up bonus: $10 bonus when you trade at least $100
This is a US-based crypto exchange that’s regulated by the New York State Department of Financial Services (NYSDFS).
Coinbase supports over 100 coins including USD coins with a low minimum price of $1. You can hold a minimum of 0.001 USD coin on Coinbase up to the maximum of 15,000,000.
Currently, Coinbase rewards American users for every USD coin they hold on their account. As a Canadian, you can earn up to 60% APY when you stake your coin on Coinbase.
That said, you will get a $10 bonus when you sign-up on Coinbase with our referral link and trade a minimum of $100.
How to Store USD Coin (USDC) in Canada
After buying a USD Coin, the next thing you want to do is to store it in a safe place. You can simply do so through the crypto exchange you purchased the USD coin.
So far you can keep your password safe, you can leave the USD Coin in your crypto exchange account pending when you want to use it. Alternatively, you can stake it or save it on the crypto exchange to earn interest.
But if you’re looking for a more secure way to store your USDC, I recommend a personal crypto wallet. A personal crypto wallet is a dedicated account for crypto private keys.
Some of the best crypto wallets in Canada include:
A detailed view of some of the best crypto wallets in Canada is available here.
Some FAQs on How & Where to buy USDC in Canada
You can make crypto transfers, purchases, and crypto conversions with your USDC.
Sure! You can buy by BTC (Bitcoin) as well as any other cryptocurrency using your USDC as the purchase option.
Savings with USDC is safe so far the exchange is regulated and insured by recognized bodies such as FINTRAC in Canada and similar bodies in the US.
It depends on the withdrawal methods your exchange supports. The common methods for cashing out USDC include crypto withdrawals, credit cards, e-Transfers, bank transfers and wire transfers.
Final Thoughts
Including a USD Coin in your crypto wallets could be a cost-saving way of diversifying your investment and reducing risks.
Besides helping you make fast crypto transfers and purchases, you can also use a USDC to convert your existing crypto coins to one of the strongest currencies in the world, the USD.
With the above guide, hopefully, now you know how and where to buy USD Coins in Canada. But when you buy USDC, don’t forget to store it in a safe place such as a personal crypto wallet.
That brings us to the end of this article. If you need more clarification, kindly comment below.
For more information about the best crypto products and services in Canada, check out our existing blog posts, such as:
