Discover where to use cryptocurrency in Canada, from Vancouver’s 101 bitcoin-friendly businesses to crypto platforms like Bitbuy and Coinbase, and how Canadian banks are responding.

In Canada, cryptocurrency is gaining ground, especially in cities like Vancouver, Toronto, and Ottawa. Vancouver leads with over 100 businesses accepting crypto, spanning various sectors, from restaurants to electronics. Toronto follows with 72, and Ottawa and Edmonton round out the top spots.

While not considered legal tender, cryptocurrencies like Bitcoin are increasingly accepted by local businesses and online platforms. Restaurants such as Figures in Toronto embrace Bitcoin, alongside a growing list of sectors including real estate, jewelry, and travel. Crypto exchanges like Bitbuy, Coinbase, and Shakepay also operate in Canada, enabling easy buying, selling, and trading.

Although Canada’s banking sector is more reserved, with banks like Scotiabank being relatively crypto-friendly, most institutions are still cautious. It’s essential for businesses accepting cryptocurrencies to comply with Canada’s regulatory framework, including registration with the Financial Transactions and Reports Analysis Centre (FINTRAC).

As the landscape evolves, Canadians can expect gradual growth in cryptocurrency usage, although widespread everyday adoption remains limited.