Beaver Bitcoin

Best Bitcoin Wallet Canada

It's important to secure your bitcoin in a Bitcoin wallet only you control. It's easier than you think and we're here to help you select the best Bitcoin wallet for you, based on your specific individual needs.

The 5 Best Bitcoin Wallets in Canada (2024)

To buy bitcoin withBeaver Bitcoin, you'll first need a Bitcoin wallet - a tool for sending, receiving and securing your bitcoin.

There's a wide array of Bitcoin wallets available, and we've narrowed down the five best Bitcoin wallets in Canada and compared them below for your convenience. Examine each wallet carefully, and pick the Bitcoin wallet that best suits your specific needs.

Best Bitcoin Wallets In Canada Compared


Blockstream Jade

Overall Best Bitcoin Wallet in Canada



Best Bitcoin Wallet for Beginners



Best Bitcoin Wallet in Canada for Spending



Best Canadian Wallet for Maximum Bitcoin Security



Best Wallet for Onboarding to Bitcoin Lightning Network

1. Blockstream Jade: Overall Best Bitcoin Wallet In Canada

We consider theBlockstream Jadeto be the best bitcoin wallet in Canada thanks to its combination of robust features, security measures, and user-friendly interface.

This hardware wallet stands out from competitors by being lightweight, affordable, and fully open source. That means all of its code is publicly viewable online, and the entire wallet can bebuilt from scratchby ordinary people.

Using the Jade, Bitcoin owners can safely sign and send transactions from their wallet without ever letting their private keys touch the internet.

Jade also comes paired with a free, native desktop and mobile Bitcoin wallet called “Blockstream Green” for viewing your balances and managing your assets.

Green itself is overflowing with features. Users can send and receive bitcoin signed by their Jade via bluetooth, USB, or QR code. It can also function as an independent mobile wallet to conveniently send bitcoin without needing your Jade.

Wallet types of all shapes and sizes are available including Bitcoin, Lightning, and multisignature (more on those later).

It can also handle bitcoin traded on the Liquid network (L-BTC) – a separate blockchain that uses bitcoin pegged tokens to enable Bitcoin transactions that settle faster and cheaper than the real thing.

Advanced users have the option to connect their wallets with Tor for enhanced privacy, or to their Personal Electrum Server for independently broadcasting transactions and monitoring bitcoin balances. Altogether, Jade and Green form a complete package as the best Bitcoin wallet in Canada, appealing to both beginners and veterans who have varying convenience and security needs.

Jade Wallet

A full colour LCD screen, sleek casing and debossed wordmark round out the Jade wallet.

Jade Wallet Features:

  • Wallet Type: Jade (Hardware) / Green (Software)
  • Mobile App: Yes
  • Desktop App: Yes
  • Cost: $89.00 (Jade) / Free (Green)
  • Lightning / Liquid Support: Yes / Yes

Blockstream Jade

Pros & Cons


  • Simple and sleek UX
  • Free wallet download for mobile and desktop, incl. Windows, macOS, Linux.
  • Affordable hardware wallet
  • Fully open-source hardware
  • Air-gapped transaction signing via QR codes
  • BIP 39 passphrase protection
  • Option for stateless use
  • Convenient transaction signing via USB (desktop) or bluetooth (mobile
  • Compatible with Lightning and Liquid
  • Fee control
  • Compatible with personal Bitcoin node using Electrum Personal Server (EPS)


  • Watch-only wallet can contain interface bugs
  • Doesn't conveniently chart portfolio gains and losses over time
  • Jade must be connected to the internet to unlock (unless using QR signing).

2. BlueWallet: Best Bitcoin Wallet for Beginners

BlueWalletis a free, user-friendly, open-source Bitcoin wallet for sending, receiving, and securing your bitcoin on-the-go.

The mobile app, available for both iOS and Android, includes all of the basics: sending and receiving bitcoin, creation of multiple wallets, and a transaction log. Users can view their wallet balances in any currency denomination of choice, including bitcoin, sats and CAD.

BlueWallet can also create special types of Bitcoin wallets, including Lightning and multisignature (multisig) ”vaults.” A multisig vault requires multiple parties and devices to sign transactions, meaning, even if someone steals your phone, they can't take your coins.

If you don't want your bitcoin's security connected to your phone at all, that's no issue. BlueWallet lets you create watch-only wallets that simply let you view a wallet balance, while the keys to spend it are stored elsewhere.

Canadians who have no experience with Bitcoin can't go wrong with BlueWallet. We recommend this wallet option for anyone planning their first Bitcoin purchase with Beaver.


BlueWallet's mobile app features an intuitive, user-friendly interface.

BlueWallet Features:

  • Wallet Type: Software
  • Mobile App: Yes
  • Desktop App: Yes (macOS only)
  • Cost: Free
  • Lightning / Liquid Support: Yes / No


Pros & Cons


  • Simple UX for beginners
  • Free download
  • QR-based transaction signing
  • Support for mutisig, Lightning, and watch only wallets
  • Advanced options to control fees, including bumping, canceling, and batching transactions
  • Option to create “fake wallet” behind a second password in case of forced disclosure.
  • Open source
  • Compatible with personal Bitcoin node using Electrum Personal Server (EPS)


  • No Liquid BTC (L-BTC) support
  • Hot wallet (unless using watch-only or vault)
  • No bluetooth signing or native hardware wallet support
  • No desktop app for PC

3. AQUA: Best Bitcoin Wallet In Canada For Spending

AQUAis a newly launched mobile bitcoin wallet from JAN3, designed as an all-in-one solution for efficient bitcoin saving and spending.

The app's interface divides users' bitcoin holdings into a “savings account” and “spending account.” The former includes a regular Bitcoin wallet for savings, and the latter includes Layer 2 Bitcoin on Liquid (L-BTC) which can be used to save significantly on Bitcoin's network fees.

Like Green wallet, AQUA also supports USDt stablecoins on Liquid, an increasingly popular way for people in developing countries to shield themselves from inflation while avoiding Bitcoin's price volatility.

Through clever backend design, AQUA can both send and receive funds over Lightning funded directly from the user's L-BTC balance. It even features an in-app marketplace where users can buy bitcoin from diverse sources, and easily swap their BTC, L-BTC, and USDt all in one place.

The AQUA wallet is still in its infancy, but shows major promise for the future of bitcoin spending.

Aqua Wallet

AQUA wallet auto-converts funds received via Lightning to L-BTC.

AQUA Wallet Features:

  • Wallet Type: Software
  • Mobile App: Yes
  • Desktop App: No
  • Cost: Free
  • Lightning / Liquid Support: Yes / Yes


Pros & Cons


  • Simple, intuitive UX with “savings” and “spending” accounts
  • Dollar access via USDt
  • In-app marketplace for buying bitcoin
  • Allows for saving on Bitcoin network fees
  • Seamlessly compatible with Bitcoin, Lightning and Liquid
  • Visa debit card and bill payments (coming soon)


  • Cannot import watch-only wallets
  • Hot wallet, not compatible with hardware wallets
  • Seed phrase stored on device, not recommended for significant long term bitcoin savings
  • No local currency settings (only BTC/USD denominations)

4. Coldcard: Best Canadian Wallet For Maximum Bitcoin Security

Coldcardis the best Bitcoin wallet in Canada for those whose priority is securing their bitcoin savings. This calculator-shaped hardware wallet is made in Canada by Coinkite and and shipped directly from the manufacturer inside tamper-evident packaging, ensuring buyers that their product hasn't been physically compromised.

After initial setup, the Coldcard wallet allows users to sign fully air-gapped transactions using a micro-SD card coupled with a software wallet, such as BlueWallet. Air-gapped transactions keep users' private keys fully disconnected from the internet, greatly reducing risk exposure to malware or remote attacks.

Like the Blockstream Jade, its code is also open-source for anyone to view and verify.

Since micro-SD based transactions can be a bit tedious, Coldcard still allows for standard transaction signing via USB connection. Its plethora of advanced security features are entirely optional, making it a viable option for all experience levels.

If you're a proudly paranoid Bitcoiner who wants to maximize the security of your bitcoin savings, Coldcard is the wallet for you.

Coldcard Wallet

Coldcard Bitcoin wallets are made in Canada (Toronto) and offer the best in Bitcoin-security.

Coldcard Wallet Features:

  • Wallet Type: Hardware
  • Mobile App: No
  • Desktop App: No
  • Cost: $157 CAD
  • Lightning / Liquid Support: No / No


Pros & Cons


  • Fully airgapped micro-SD based transactions
  • Tamper evident packaging
  • Advanced security features
  • Intuitive calculator-shaped hardware model with OLED screen
  • Made in Canada
  • Dual secure element (seed words kept in dedicated chips)


  • Higher cost compared to other Bitcoin wallet options
  • Can be complicated for beginners
  • No native app
  • No Layer 2 support

5. Phoenix: The Best Wallet For Onboarding Bitcoin's Lightning Network

Phoenixis a unique software wallet that is specifically designed for Bitcoin's Lightning network.

The Lightning network is a Layer 2 Bitcoin protocol that allows for instant bitcoin payments at a greatly reduced cost compared to the main chain. It's a great workaround to the 10-minute settlement time of regular bitcoin transfers, which can also be costly.

Between payment channels and inbound liquidity, Lightning can be hard to understand for beginners. Thankfully, Phoenix handles all the backend plumbing to make transacting on Lightning easy.

The best part? Unlike other Lightning wallets, Phoenix is self-custodial, putting you in full control of your stack.

Phoenix is an excellent bitcoin wallet for Canadians wishing to spend bitcoin via Lightning.

To find Canadian vendors accepting Bitcoin over Lightning, we recommend usingCoinos. You can also use Coinos as your Lightning wallet for day-to-day spending, but keep in mind it isn't self-custodial like Phoenix.

Phoenix Wallet

Phoenix wallet makes using Bitcoin over Lightning easy.

Phoenix Wallet Features:

  • Wallet type: Software
  • Mobile app: Yes
  • Desktop app: No
  • Cost: Free
  • Lightning / Liquid Support:Yes / No


Pros & Cons


  • Cheap and instant transactions
  • Simple, intuitive UX
  • Self contained Lightning node - you fully control your assets
  • Compatible with both Bitcoin and Lightning wallets
  • Automatic creation of Lightning channels when needed
  • Rejects payments by default if fees are too high (adjustable)
  • Compatible with Tor


  • Requires “inbound liquidity” (an upfront bitcoin payment) to receive transactions to your Lightning wallet
  • Not suitable for long term bitcoin savings
  • Hot wallet - keys connected to the internet

Best Bitcoin Wallet in Canada FAQs and How-Tos

Do you have questions about the best Bitcoin wallet in Canada? The best Bitcoin wallet for you is one that you are comfortable with, that meets your individual needs. You may start with a simple Bitcoin wallet before moving to a more advanced wallet. Remember, Bitcoin wallets are a new concept, but they're not hard. Here are some common questions and answers to help beginners learn more about Bitcoin wallets.

What is a Bitcoin wallet?

A Bitcoin wallet is a tool for securing, storing, sending and receiving bitcoin. Your Bitcoin wallet securely manages the private keys necessary for accessing and managing your bitcoin on the Bitcoin blockchain.

Why do you need a Bitcoin wallet?

To own bitcoin you must secure your bitcoin in a Bitcoin wallet only you control.

A Bitcoin wallet allows you to send and receive bitcoin with anyone, anywhere in the world.

Without a Bitcoin wallet, you can only buy bitcoin through custodial platforms and exchanges. These intermediaries hold your bitcoin (and the corresponding private keys) for you and expose you to counter-party risk, cancharge hefty fees,lend out/stealyour bitcoin without permission, become hacked, orrestrict/freezeyour funds under force of law.

When you are buying bitcoin, it is highly recommended that you buy bitcoin from a non-custodial, Bitcoin-only platform likeBeaver, that delivers bitcoin directly to your personal Bitcoin wallet.

How to Choose a Bitcoin wallet in Canada

Canadians are fortunate to have many Bitcoin wallet options to choose from, but this can also make the process of choosing a Bitcoin wallet difficult. To find the best Bitcoin wallet in Canada for your specific needs – consider the following:

Type: Providing ample security, software wallets are free to download as apps for your mobile phone and desktop computer, and are great for beginners and lower values of bitcoin. Hardware wallets are much more secure, better for larger amounts of bitcoin and longterm saving, but are less convenient for frequent transacting.

Cost: Most Bitcoin software wallets are free to download, while Bitcoin hardware wallets can cost $100+ and may require shipping time.

Operating System: Some Bitcoin wallet apps are mobile-only, or desktop-only, while others support both.

User Experience: Pick a Bitcoin wallet with a user experience that matches your individual needs and experience level.

Security: As the value of your bitcoin grows, so will your security needs. The wallet you start with today may not be right for you two or three years from now, and that's ok. You can always transfer your bitcoin to a more secure Bitcoin wallet setup in the future.

Payments: Bitcoin transactions will become more expensive as adoption increases over time. Even today, affordable payment technology is paramount for day-to-day bitcoin spenders and frequent bitcoin savers (eg, a weekly Bitcoin DCA). Consider a Bitcoin wallet that supports Layer 2 technologies like Lightning and Liquid.

Setting up your Bitcoin wallet

If you've never set up a Bitcoin wallet, here's a fast and easy way to do so using the mobile app BlueWallet, our favourite Bitcoin wallet for beginners.

1. Download and install the BlueWallet mobile app for free from the Apple App Store or Google Play store.

2. After opening the mobile app, click the blue 'Add now' button to create a Bitcoin wallet.

3. In the 'Add Wallet' screen, select the blue 'Bitcoin' option, then select the blue 'Create' button.

4. You will be presented with your backup phrase - your private key in the form of twelve words. This backup phrase, also known as a seed phrase, ensures you can recover your bitcoin in the event you lose your phone. Write down these words in numerical order on a piece of paper, and keep it somewhere safe and private.

5. Select “Ok, I wrote it down.”

Congratulations! You've created your first Bitcoin wallet and are ready to receive your first Bitcoin transaction

How to keep your Bitcoin safe

A free Bitcoin software wallet, like BlueWallet, is sufficient for getting started and securing smaller amounts of Bitcoin, though we recommend buying a Bitcoin hardware wallet when you're ready. Using a Bitcoin hardware wallet is your best option for keeping your bitcoin safe once it becomes a significant portion of your overall wealth.

Bitcoin hardware wallets allow you to sign Bitcoin transactions while keeping your private keys disconnected from the internet. By contrast, standalone Bitcoin software wallets on a mobile device or desktop computer that are internet connected are more vulnerable to hacking attempts and possible theft.

For longterm Bitcoin savings or larger amounts of bitcoin, we recommend using a Bitcoin hardware wallet like the Blockstream Jade or Coldcard by Coinkite. These Bitcoin wallets offer the best in Bitcoin security and the source code is publicly verifiable for both.

More Bitcoin wallet security tips:

  • Consider using a passphrase or a multisignature wallet setup to remove single points of failure from your Bitcoin security setup. Blockstream Green and BlueWallet offer multisig options, whileBitkeyis another great multisig wallet option for beginners.
  • Avoid traveling with your hardware wallet to not risk losing it. Keep it at home, and treat the funds inside it like longterm savings. Smaller amounts for convenient spending can be kept on a mobile Bitcoin wallet.
  • Keep your written backup phrase safe, but don't overcomplicate it. That said,a steel seed plateis a very good idea to protect your backup phrase from the elements incase of fire or flood.

How to buy Bitcoin in Canada

Among the easiest and most convenient ways to buy bitcoin instantly in Canada is with Beaver Bitcoin via Interac E-transfer. Upon receiving your funds, Beaver exchanges your funds to bitcoin then delivers your bitcoin immediately to your personal Bitcoin wallet.

Read morehereabout how to buy bitcoin to your Bitcoin wallet in minutes with Beaver.

With Beaver you can set up a recurring weekly bitcoin purchase from your bank account making long term bitcoin saving automatic. Also known as Bitcoin dollar cost averaging, this method of buying bitcoin regularly is widely accepted as the best way of accumulating an asset known for its volatility over time.

If you intend to buy a larger amount of bitcoin ($25,000 CAD or more), you can take advantage ofBeaver Plaid, Beaver's full service offering for both individuals and businesses.

Frequently Asked Questions

What is the safest Bitcoin wallet in Canada?

The safest bitcoin wallet in Canada is the Coldcard thanks to its advanced security features, verifiable source code, secure shipping process, and air-gapped transaction signing.

Where is the safest place to buy bitcoin in Canada?

The safest places to buy bitcoin in Canada are non-custodial, Bitcoin-only platforms. These platforms never hold your bitcoin for you and deliver your bitcoin directly to a Bitcoin wallet only you control. Among all of the non-custodial, Bitcoin-only platform in Canada, Beaver is the easiest to use.

How much does a Bitcoin wallet cost?

A Bitcoin hardware wallet can cost $89 CAD in case of the Blockstream Jade, or $157 CAD in case of the Coldcard. Most, if not all, reputable Bitcoin software wallets are free to download.

How many Canadians own bitcoin?

According to respondents in theFinder: Consumer Sentiment Tracker Q1 survey,roughly 13% of Canadians owned bitcoin as of Q1 2023, including 16% of men and 11% of women.

Can a Bitcoin wallet be hacked?

A Bitcoin wallet can technically be hacked if the wallet software contains a vulnerability or if your personal security setup is poor (eg, storing your private keys in your Notes app). Keep your Bitcoin private keys offline and use a passphrase to enhance your security setup. Stick to reputable Bitcoin hardware wallets like the Jade and Coldcard and rest easy at night.

Can I have multiple Bitcoin wallets?

Yes. You can have many Bitcoin wallets on one wallet app, and one private key can generate any number of Bitcoin wallet addresses.

What is a hot wallet?

A hot wallet is a Bitcoin wallet that is connected to the internet. Cold wallets are Bitcoin wallets that are disconnected from the internet. Hot wallets are not as secure as cold wallets since they're internet connected, though they are generally more convenient to use.

Does bitcoin grow inside of my wallet?

The value of the bitcoin in your Bitcoin wallet continues to increase or decrease based on the market price of bitcoin, though the amount of bitcoin in the wallet will not change. For example, 0.572 bitcoin in a Bitcoin wallet today will be 0.572 bitcoin tomorrow, next month, and ten years from now if left alone. However the value (or purchasing power) of that bitcoin amount is likely to have increased significantly in 10 years. Bitcoin in your wallet does not earn yield or interest, and there will only ever be 21 million bitcoin.

Can I transfer bitcoin from my wallet to a Canadian bank account?

You can only transfer the value of your bitcoin to your bank account by exchanging your bitcoin to fiat currency (CAD) using a bitcoin exchange. If you are looking to sell more than $1,000 CAD of bitcoin simply send us an email and we can cash you out to your bank via Interac e-Transfer.


The best Bitcoin wallet for you is one you are comfortable with that meets your specific individual needs. Bitcoin wallets are a new concept for many, but they don't have to be hard. Start with a simple Bitcoin wallet like BlueWallet, and work your way up to a more secure Jade or Coldcard as the value of your bitcoin savings grows. For spending, Phoenix is our Bitcoin Lightning wallet of choice, while we are eagerly watching the development of the AQUA Bitcoin wallet. If you're buying bitcoin in Canada, we recommend using a Bitcoin-only, non-custodial platform like Beaver Bitcoin, that delivers bitcoin directly to a Bitcoin wallet only you control.

Start saving Bitcoin with Beaver today.

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