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How to Buy Crypto with Toronto-Dominion Bank in Canada

Last updated on December 12, 2023

Quick Summary: While Toronto-Dominion Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Canada cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

Toronto-Dominion Bank Homepage

As mentioned in my quick summary, like most Canada banks, Toronto-Dominion Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency trading platforms to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using Binance as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with TD Canada Trust

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency trading platform

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Binance

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Toronto-Dominion Bank.

Buy Crypto With Binance

About Toronto-Dominion Bank

Toronto-Dominion Bank (French: Banque Toronto-Dominion) which is also known in the form of TD Bank Group (French: Groupe Banque TD), is a Canadian multinational financial and banking services corporation with its headquarters at Toronto, Ontario. Its subsidiaries and the bank are called just TD which trades under the trademark Toronto-Dominion Bank.

The bank was established in February of 1955 by the merger of two banks, the Bank of Toronto and The Dominion Bank which were established in 1855 as well as 1869 respectively. It is among two Big Five banks of Canada established in Toronto and the other one is The Canadian Imperial Bank of Commerce. Its TD Bank SWIFT Code is TDOMCATTTOR and the TD institution code is 0004.

According to Standard and Poor’s, TD Bank Group was the largest bank in Canada in terms of total assets, as well as market capitalization. It was a top 10 banks across North America, and the 23rd-largest bank in the world. In the year 2019, it was recognized as a global important systemically important bank through the Financial Stability Board.

Its affiliates have more than 89,000 employees and more than 26 million customers worldwide. In Canada the bank is operated by it’s TD Canada Trust division and provides an additional 11 million clients at more than 109 branches. Within the United States, the company is managed by their company subsidiary TD Bank, N.A. that was established as a result of the merger between TD Banknorth and Commerce Bank. TD Bank serves more than 6.5 million customers across the United States with a network of more than 1,200 branches across 16 states and the District of Columbia.