You’ll be limited to video lengths of 15 minutes with a free account.
If you are embedding video from your YouTube channel into your Canvas course, you are providing content to students in a password-protected environment free of charge and are therefore well within fair-use boundaries.
Remember, you can create an unlisted channel in YouTube. This means that a person who might want to view your content would have to know the exact URL (web address) of each of your videos in order to view. The chances of that happening are equal to one’s chances of finding a wormhole in the last stall of the men’s room at the Dairy Queen on Manor Road.
While this video is talking specifically about embedding video from YouTube into blogs, this also applies to embedding video in a Canvas Page.
You will find that the “Share Button” and “Embed Code” are standardized features in most current websites. The next time you’re watching a video, look for the Share button. Chances are, one will be there.