Buy Bitcoin in Canada – With more trustworthy Canadian-specific alternatives and more foreign traders providing services to Canadian citizens, buying Bitcoin in Canada is now simpler than ever.
We’ll show you how to buy Bitcoin (BTC) and other cryptocurrencies from any province in Canada in this post.
Things to Consider Before Buying Bitcoin in Canada
Before you get started, there are a few things to think about while purchasing Bitcoin in Canada. These are crucial in assisting you in selecting the appropriate time and service for your Bitcoin order.
Market Position: This is a huge factor of course when you invest in any asset. Perhaps, even more, the case when you are buying Bitcoin. It is subject to more pronounced price movements than investing in stocks for example. In that case, you want to be fully aware of the market price at the time you are buying.
Trading Fees or Limits: These can vary from extremely competitive to very high depending on the service you choose to buy your Bitcoin through. Always be sure to check for all fee and charges before making a purchase.
Service Reputation: While all of the services we have chosen are some of the most trustworthy around, you should be aware that not every Bitcoin sales platform is as reputable. You can reduce your risk here by making sure you perform some due diligence.
Kraken is one of the industry’s oldest cryptocurrency exchanges. They’ve been in business for more than a decade and have earned the admiration of traders in the industry as a result. They sell Bitcoin and a number of other coins all around the world, including in Canada.
The option to trade crypto futures and the opportunity to participate in crypto margin trading with up to 50:1 leverage are two of Kraken’s most common and exclusive trading features. This is great for more advanced traders and can be done through the also innovative Kraken trading platforms.
Kraken has trading channels that accommodate all types of trading experience, so no matter where you are with your trading career, you can find Kraken to be a good fit. All is catered to here, from complete newcomers to experienced veterans.
Kraken also offers a diverse range of over 40 other cryptocurrencies, including Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others.
You can still read our complete Kraken summary or head straight to the Kraken website for more detail.
Binance is one of the world’s biggest and best-known cryptocurrency exchanges. Binance is still a good place to buy Bitcoin if you’re a Canadian dealer. When it comes to using exchanges like Binance instead of buying Bitcoin directly via the other services listed, there are a few variations.
The major distinction is that when you buy from Binance, you will also buy from other business vendors via the exchange. In terms of price and prices, this will mean a lot to you.
For direct Bitcoin transactions with your credit, debit card, or bank transfer, Binance costs between 1% and 3.5 percent, but if you choose to buy Bitcoin with another cryptocurrency, the rate may be as minimal as 0.1 percent from some merchants on the platform.
The procedure for getting started is also very easy. All you have to do is register with Binance and go through the KYC procedures. They work with Simplex as a payment processor for direct Bitcoin payments, ensuring that the transactions are safe and stable. Binance’s Bitcoin purchase should take no longer than a few minutes to complete.
They also sell over 100 of the most popular cryptocurrencies, making it a perfect place to purchase altcoins like Binance (BNB).
For more information, see our Binance Analysis, or sign up and start trading on the Binance exchange directly. Using the coupon code EE59L0QP to get a 10% discount on trading fees.
Coinberry’s user-friendly website makes it easy to get Bitcoin in Canada and purchase or sell it easily. They’ve been around since 2017 and have a range of well-known collaborations, giving them a strong cryptocurrency credibility. They are also FINTRAC-registered as a Money Services Company, making them extremely reliable.
You will open an account and have your KYC checked in no time, and Coinberry also guarantees that you get the highest deal for your Bitcoin and other backed commodities when you buy or trade them. They are one of the cheapest services where you can buy Bitcoin in Canada using your debit, credit card, cable, or Interac transfer, with no deposit or withdrawal costs and a 0.5 percent trading charge. It’s worth noting, though, that as a market maker, they’ll charge a spread on the asset.
Overall, they provide a safe, easy, and well-respected service at a reasonable price. As an added bonus and unique feature, you also have the ability to short Bitcoin through Coinberry if this is a strategy that interests you.
They also offer: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Stellar Lumens (XLM).
Since 2014, Wealthsimple, a Canadian-based financial technology firm, has offered more conventional trading services. They have commission-free stock trading and a robo-advisor tool for car trading, and they recently launched a dedicated crypto service.
This is now only available in Canada, and it allows you to purchase and sell Bitcoin and Ethereum 24 hours a day, 7 days a week via their incredibly user-friendly smartphone app for iOS and Android. Wealthsimple also maintains that the login process is easy and painless, taking just a few minutes, and that the service is open to everyone with no account minimums.
According to the business, they may not receive any commissions or premiums for these facilities, and as a result, they do not gain any other money from the crypto trading transactions other than a small spread of $1.50 per $100 of Bitcoin exchanged, which also helps to cover storage costs through their third-party vendor, Gemini. When purchasing Bitcoin in Canada, this presents a fantastic chance to get interested at the start of an interesting, modern, and great value product.
They still have Ethereum available (ETH).
Paybis is a well-known Bitcoin and cryptocurrency exchange where you can buy Bitcoin and a variety of other cryptocurrencies with only your credit or debit card. They’ve been around since 2014 and have facilitated the buying of Bitcoin for hundreds of thousands of users.
The program is incredibly quick to use, and signing up for the first time takes just about 15 minutes. This requires complete KYC checks for your protection and the development of a third-party wallet, which is required because Paybis only functions as a facilitator.
Paybis allows you to quickly sign up and buy Bitcoin from Canada and over 100 other countries for a low fee, depending on the payment method you use. They also provide an excellent support system and detailed step-by-step guides on how to complete your transactions. Because of their simplicity and high degree of confidence, they have become one of the most popular options in Canada and around the world.
They also provide: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Stellar Lumens (XLM), as well as Tether (USDT), Binance (BNB), Neo (NEO), and Tron (TRX) (TRX).