Canadian Bitcoins

Name

Canadian Bitcoins

Legal name

CanadianBitcoins

Website

https://canadianbitcoins.com

Company type

Private

Founded year

2011

Operating status

Closed

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Cryptocurrency Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)

akta.pro secondary industry

Cash-to-Digital Networks (PayNearMe, Barcode/Cash-in) (MPAEALAF)

Keywords

• Cryptocurrency brokerage
• Bitcoin trading
• CAD crypto exchange
• Digital asset brokerage
• Cash bitcoin purchase

Headquarters

HQ city

Ottawa

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Cryptocurrency Trading Spread: Revenue generated from the spread between the buy price and the sell (spot) price of cryptocurrencies. Revenues came purely from trading volume. As a lean operation with revenues tied directly to trading volume, revenues saw continued decline as customers moved to ETF alternatives.
2. Large Transaction Fees: Facilitation of large cryptocurrency transactions ($100,000+) for corporations, law firms, government agencies, and HNW individuals, handled via phone.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Canadian Bitcoins was an Ottawa-based cryptocurrency brokerage that allowed Canadians to buy and sell Bitcoin, Bitcoin Cash, Litecoin, and Ethereum using Canadian dollars (CAD) through multiple channels including INTERAC e-Transfer, bank wire, in-person cash pickup at its Ottawa office, and XpressPost mail delivery. The firm registered with FINTRAC as a Money Services Business (MSB #M2083932) and earned revenue from bid/ask spreads plus service fees on cash and mail-based orders.

Product overview

CanadianBitcoins operated as a cryptocurrency brokerage platform enabling Canadians to buy and sell digital assets with CAD. The core offering was the cryptocurrency trading platform supporting Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH). Additional services included cash pickup/delivery options, various payment methods (Pre-Authorized Debit, Bill Payment, Interac transfers, credit cards), and a trust-based Auto-Graduation system for increasing transaction limits. The company also facilitated large transactions for institutional clients. The platform was sunsetted on March 31, 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Cryptocurrency Trading Platform Web-based brokerage letting individual Canadians buy and sell Bitcoin, Bitcoin Cash, Litecoin, and Ethereum with Canadian dollars via INTERAC e-Transfer or bank wire, with live bid/ask pricing and an in-house rate stability indicator.
• Cash In-Person Pickup Service Service allowing customers to drop off or pick up Canadian cash in person at the Ottawa office as payment for cryptocurrency purchases or proceeds of sales.
• Cash by XpressPost Mail Service Mail-order service enabling customers across Canada to send or receive physical Canadian cash via Canada Post XpressPost as part of a cryptocurrency buy or sell transaction.
• Large Transaction Brokerage Service Dedicated phone-based brokerage desk for clients executing transactions of $100,000 CAD or more, serving high-net-worth individuals, corporations, law firms, and government agencies.

Quantifiable outcome

• BTC stability of 99.2%, BCH 98.2%, LTC 98.6%, ETH 97.6% — indicating tight and reliable spreads
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• B.A.R.K. OttawaminorOthers · 10 June 2016Local Ottawa animal rescue charity. CanadianBitcoins launched a community fundraising campaign to help B.A.R.K. Ottawa recover from a ransomware attack, donating an initial 1.0 BTC and converting all community BTC donations to CAD at spot with zero fees. Raised 3.2199 BTC ($2,802.10 CAD) in total donations from the campaign.
• Various Canadian banks and financial institutionscoreTechnology or Integration · 21 June 2013Integrated with multiple Canadian financial institutions for payment processing including: Interac Online, Interac Email Transfer, Pre-Authorized Debit (PAD), Direct Deposit, Bill Payment (via multiple providers including TAYPE International, Direct World, MoxiPay, Apaylo), cash deposit at bank branches (BMO, CIBC), and wire transfers. These integrations enabled Canadians to buy/sell cryptocurrency using their existing bank accounts.

Scale indicators6 records

Recent moves7 records

Broad incumbents

• Coinbase: Largest US-headquartered crypto exchange with Canadian operations. Competes with CanadianBitcoins indirectly through Interac-Online and EFT integrations while offering a vastly broader product portfolio including staking, custody, and USDC.
• Kraken: Large global cryptocurrency exchange offering CAD trading pairs and staking products. Overlaps with CanadianBitcoins on crypto trading but operates globally and offers a much broader product set including advanced trading and staking.

Direct peers

• Shakepay: Canadian cryptocurrency platform enabling Canadians to buy, sell, and earn Bitcoin and Ethereum with CAD via Interac and other domestic payment rails. Most directly comparable to CanadianBitcoins as a CAD on-ramp for retail users, though operating at significantly larger scale.
• Bitbuy: Canadian crypto exchange operated by Bitbuy Technologies Inc., registered with FINTRAC, offering CAD deposits and trading across multiple cryptocurrencies. Competes with CanadianBitcoins for the same Canadian retail crypto-investor market.
• NDAX (National Digital Asset Exchange): Canadian-regulated cryptocurrency exchange offering CAD trading pairs for major digital assets. Directly comparable as a domestic Canadian crypto brokerage competing for the same retail and institutional CAD-based trading volume.
• Coinsmart: Canadian CIRO-regulated crypto trading platform offering CAD deposits and a broad altcoin selection. Competes with CanadianBitcoins for Canadian retail crypto-investor trading volume through similar payment rails.
• Bitcoin Well: Canadian Bitcoin ATM and online brokerage operator serving cash-preferring customers across Canada. Directly comparable to CanadianBitcoins' cash-in-person and cash-by-mail offerings for Canadian crypto buyers.
• Newton: Canadian cryptocurrency brokerage with no trading fees, supporting CAD deposits via Interac and wire. Direct competitor to CanadianBitcoins for Canadian retail crypto buyers, differentiated by zero-fee pricing model.
• Bull Bitcoin: Canadian Bitcoin-only brokerage focused on non-custodial Bitcoin purchases with CAD via Interac, wire, and bill payment. Closely mirrors CanadianBitcoins' CAD-denominated Bitcoin brokerage model and customer base.

Regional players

• PayNearMe: US-based cash-to-digital payment network enabling cash deposits at retail locations for online account funding. Functionally analogous to CanadianBitcoins' Flexepin and in-person cash rails, though serving US rather than Canadian consumers.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/canadianbitcoin
• Facebookfacebook.com/Canadianbitcoins
• LinkedInlinkedin.com/company/canadian-bitcoins

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canadian Bitcoins