Canada's provincial securities regulators have approved certain companies to sell cryptocurrency. These platforms have the highest standard of regulation that applies, and are the least risky way for Canadians to buy cryptocurrency. For Ontario residents, the Ontario Securities Commission maintains a list of the approved platforms:

So-called restricted dealers allow users to either hold cryptocurrency in an account on the platform, or transfer it to their own wallet. The latter removes reliance on the platform but requires that you know how to safely store cryptocurrency on a hardware wallet or on a desktop/mobile wallet program.

Another option is to purchase cryptocurrency ETFs, which are also regulated by provincial securities regulators and trade on regulated stock markets. These ETFs have an annual fee, but they can be held in registered accounts like RRSPs or TFSAs, and there's no managing of private keys or accounts for the owners of the ETF units. There's no single list of these ETFs, but the TSX has a list of cryptocurrency-related stocks which lists the ETFs (and othe securities): You should check the list and then compare the fees that apply. There are also American bitcoin ETFs that Canadians can purchase through their brokerage accounts.

There are other ways to purchase cryptocurrency, but for many Canadians, the above two options will be their best bets. The difference is whether they want to actually own cryptocurrency, which they can transfer to their own wallet, or whether they want to own bitcoin as part of a trust (ETFs) that they can't transfer to their own wallet.