How To Buy Crypto with Toronto-Dominion bank

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Canadian Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a cryptocurrency trading platform. However, that doesn’t mean you can’t use your bank account to buy crypto.

All you need is a reliable and trusted crypto exchange. We recommend using Bitbuy as it’s a very well-known Canadian crypto exchange (over 400,000 Canadians served) with a good amount of cryptocurrencies to choose from.

And for a limited time only, you can get FREE $40 when you sign up and fund your Bitbuy account with $250+!

Buy Crypto with Bitbuy

How to buy crypto or bitcoin with Toronto-Dominion bank

As stated above, just like with the vast majority of Canadian banks, you can’t buy crypto with Toronto-Dominion bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a cryptocurrency exchange.

However, there are many crypto trading platforms that you can use for buying bitcoin and other cryptocurrencies.

1. Choose a crypto trading platform

While there are a lot of cryptocurrency exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.

The reason we recommend going with Bitbuy is that they’re very easy to use, have 24/7 support, and have a quick and seamless verification process to get you started!

Let’s get into it!

Bitbuy site

2. Create an account on the exchange

The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.

Buy Crypto with Bitbuy

Bitbuy sign up form

3. Transfer funds into the account

Transferring funds from your Toronto-Dominion bank account is also pretty easy as Bitbuy supports Interac eTransfer and Bank Wire.

4. Buy cryptocurrency

Once the funds are in the account, just choose bitcoin or any other cryptocurrency you’re wanting to purchase, and buy it.

And that’s it, you now have some crypto, congratulations!

Buy Crypto with Bitbuy

 

Frequently Asked Questions

Where can I buy crypto in Canada?

There are multiple Canadian crypto exchanges where you can buy crypto. While this guide uses Bitbuy, other popular exchanges include Coinberry and NDAX.

How can I buy Bitcoin in Canada?

You can buy Bitcoin using a crypto trading platform like Bitbuy or Coinberry. We also have this handy guide on how to buy Bitcoin {in Canada}.

About Toronto-Dominion bank

The Toronto-Dominion Bank (French pronunciation: Banque Toronto-Dominion), is a Canadian multi-banking and financial services corporation with its headquarters in Toronto, Ontario. Known by TD and operated as TD Bank Group on the 1st of February 1955, the bank was formed through the merger of The Dominion Bank (Bank of Toronto) and The Bank of Toronto (1855 and 1869 respectively. It is one of only two Big Five Toronto banks, the other being Canadian Imperial Bank of Commerce. The SWIFT code of Toronto-Dominion Bank SWIFT number is TDOMCATTTOR. The TD institution # is 004.

Standard & Poor’s ranked TD Bank Group as the largest Canadian bank in terms of total assets and market capitalization in 2021. They were also a top-10 North American bank and the 23rd largest bank globally. It was named a bank of global systemic importance by the Financial Stability Board in 2019.

The bank's subsidiaries employ over 89,000 people worldwide and serve more than 26 millions clients. The bank is called TD Canada Trust in Canada. It serves more than 11,000,000 customers at 1,091 branches. The American company operates under the name TD Bank. This was established through the merger of Commerce Bank and TD Banknorth. TD Bank services more than 6.5 Million customers in the United States through a network of 1200 branches across 16 states and District of Columbia.

The Toronto-Dominion Bank's predecessors, The Bank of Toronto, The Dominion Bank and The Bank of Toronto were founded in the middle of the 19th century. The Bank of Toronto was founded in 1855 while The Dominion Bank was established 1869. The Bank of Toronto was able to reach an agreement with The Dominion Bank in 1954 to merge the two financial institutions. The Canadian Minister of Finance later approved the merger, which was made official by the Canadian Minister on 1 November 1954. Toronto-Dominion Bank became the new name for the new institution.

TD Bank bought Stafford Trading and Letco Trading back in 2002. TD Bank also acquired Laurentian Bank's retail branch west of Quebec in 2002.

TD Bank made its first entry into the American retail banking market in 2004 by announcing an agreement with Banknorth to purchase a majority stake. This New England-based bank was valued at US$3.8 billion.

After the March 2005 closing of the Banknorth sale, TD Banknorth was rebranded to Banknorth.

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