5 Ways to Buy Bitcoin in Canada

5 Ways to Buy Bitcoin in Canada

Bitcoin is one of the most popular cryptocurrencies out there. While it has its own merits (see : https://en.wikipedia.org/wiki/Bitcoin ), there are still some things you should know about buying and selling Bitcoins in Canada. This article will explain how you can buy Bitcoins in Canada, with pictures included (and a bonus Bitcoin-related joke).

If you are new to Bitcoin, you may want to know how to buy Bitcoin in Canada. Below are the five ways to buy Bitcoin in Canada.

Buying bitcoins in Canada is becoming more popular, and due to some recent events, it is a good time to pick up some bitcoins. Bitcoin has become a popular cryptocurrency and is growing in popularity. In the last couple of years, businesses all over the world have begun accepting bitcoins as payment and have begun accepting them as a form of payment.. Read more about how to buy bitcoin in canada 2020 and let us know what you think.

5 Ways to Buy Bitcoin in Canada

 

Thanks to MyBTC.ca, buying Bitcoin is now a simple and safe procedure for Canadians.

MyBTC.ca is a Canadian brokerage exchange that allows you to purchase Bitcoin using e-Transfer Interac, Credit Card (Visa or Mastercard) Cash or Debit Card, Flexepin Vouchers, and Wire Transfer in seconds.

Many individuals are seeking to invest and trade in Bitcoin utilizing a trustworthy safe platform as Bitcoin grows more popular among Canadians. MyBTC.ca is a site that enables Canadians to purchase Bitcoin in seconds using the most convenient payment options available in the country.

With a solid reputation and quick customer service, you can be certain that when you use MyBTC.ca, you’ll be able to purchase Bitcoin quickly and easily on a secure platform.

Bitcoin is a digital currency (BTC)

Bitcoin is a digital money that was created and is only known to exist in electronic form. Bitcoin does not exist in a tangible form that can be retained by its owners. While Bitcoin’s safe nature continues to make headlines, the innovative blockchain technology is getting a lot of traction when it comes to guaranteeing secure payments.

Many people are using Bitcoin as an investment and trading tool, while others are using it to make purchases, with many businesses adding Bitcoin to their list of accepted payment options. As a result, several of the world’s most well-known businesses have taken measures to accept Bitcoin as a payment option. BTC is already accepted for purchase and payment on other eCommerce platforms and marketplaces.

Here are some options for buying and investing in Bitcoin in Canada if you want to invest or trade in the cryptocurrency.

Broker of Cryptocurrency Exchange (MyBTC.ca)

The most convenient method to purchase Bitcoin in Canada for most investors or traders is to open an account on a major Canadian cryptocurrency exchange website like MyBTC.ca.

MyBTC.ca is a popular centralized Bitcoin purchasing site. The CTF and AML rules established by local financial authorities are known to be followed by this controlled broker exchange. Before buying Bitcoin, the site asks customers to complete a short KYC check to verify their identity.

Users may purchase Bitcoin or BTC in exchange for Canadian dollars after their accounts have been verified. They just need to go to the platform’s site and choose the “Buy Bitcoin” option. The user may then choose their preferred payment method.

The greatest part about MyBTC.ca is that it gives customers access to a variety of payment options.

What is the Best Way to Purchase Bitcoin?

MyBTC.ca makes it easy to purchase Bitcoin by providing a variety of payment options. These are the methods:

  • e-Transfer Interac
  • Bank Wire
  • Card (credit or debit)
  • Cash or Interac Debit are also acceptable options.
  • Coupon for Flexepin

Let’s take a look at some of the most common methods for purchasing Bitcoin in Canada through MyBTC.ca:

Card (credit or debit)

Using a credit or debit card is the most common method to purchase Bitcoin immediately in Canada.

Purchasing Bitcoin via MyBTC.ca is a simple and fast procedure. A credit card transaction requires a minimum daily expenditure of $75 and a maximum spend of $25,000 per day.

Most Canadian credit and debit cards are accepted, and you may get your Bitcoin instantly, 24 hours a day, seven days a week. You will just need to complete a short online verification to purchase.

To purchase Bitcoin via the MyBTC.ca website, go to the main page by clicking here.

You can read the complete breakdown here: “How to Buy Bitcoin in Canada with a Credit or Debit Card” for more information on how to buy Bitcoin in Canada using a credit or debit card on MyBTC.ca.

Bank Wire

Bank Wire financing is another common method to purchase bitcoin in Canada.

Canadians who wish to take advantage of a cheaper cost by purchasing greater quantities of Bitcoin utilize bank wire financing. The daily minimum purchase amount for Bank Wire financing is $10,000, with a maximum purchase amount of $250,000.

You will need to go to your local bank with the instructions MyBTC.ca sends you for this procedure. The bank teller will be able to transfer the funds to the MyBTC.ca bank account using the information from the email.

This method of purchasing Bitcoin in Canada is ideal for those who want to acquire a big quantity of Bitcoin at a cheap cost. The transaction is typically processed the following working day, with all Canadian banks capable of completing the transaction.

Your verification for the Bank Wire transaction may be done in person at the bank with ID or online. You can learn more about how to purchase Bitcoin in Canada through Bank Wire by visiting this page.

Cash

Cash at your local Canada Post is another way to purchase Bitcoin and fill your online account with Canadian dollars. This method is one of the most reliable and economical methods to convert Canadian dollars while guaranteeing that they are delivered quickly and safely.

You may use the following link to add this option to your online account. Enter your mobile phone number and click “Text Me” to get a text message. An SMS text code will be sent to you, which you must input and continue with.

More information on how to authenticate your identification at Canada Post in order to get access to payment methods through MyBTC.ca to buy Bitcoin can be found here: “How to Buy Bitcoin with Cash or Debit At Canada Post.”

Interac e-Transfer

The most common payment option in Canada is Interac e-Transfer, which may be used to purchase Bitcoin by transferring money from their online banking to MyBTC.ca. When purchasing Bitcoin in quantities ranging from $30 to $10,000, many individuals choose to use this quick and simple method.

You may purchase Bitcoin with this payment option by going to this website. To begin, log in or create an account, then enter your mobile phone number below and click “Text Me.” An SMS text code will be sent to you, which you must input and continue with.

Flexepin

Flexepin vouchers are a kind of rapid payment that allows you to deposit Canadian dollars into your account and purchase Bitcoin right away. Flexepin vouchers may be purchased online at TopMeUp.ca or in-store at Flexepin Retail Purchase Locator, which lists over 4,000 retail locations throughout Canada.

You may purchase Bitcoin with this payment option by going to this website. To begin, log in or create an account, then enter your mobile phone number below and click “Text Me.” An SMS text code will be sent to you, which you must input and continue with.

Buyers may select the precise quantity of Bitcoin they want to buy in Canadian dollars when purchasing Bitcoin via the MyBTC.ca website. Before continuing, the platform will compute the totals, adding any transaction fees and requesting confirmation of any locked-in rates.

Because MyBTC.ca is a non-custodial exchange, purchasers are required to submit their Bitcoin wallet addresses. It’s possible that this wallet is software-based or hardware-based. At the same time, the platform provides its customers with extra benefits such as 24/7 customer service and cheap costs.

Alternatives to Buying Bitcoin

ATMs that accept Bitcoin

Bitcoin ATMs are another option for purchasing Bitcoin in Canada. Bitcoin ATMs are the greatest option for customers who want to purchase Bitcoin with cash while remaining anonymous. This technique, however, is known to come at a cost. Most Bitcoin ATMs have a reputation for charging high total fees, ranging from 6% to 8% over the normal market pricing.

If you want to find the closest Bitcoin ATM to your area, you may use the Coin ATM Radar.

Peer-to-Peer Network (P2P) is a kind of peer-to-peer (P2P)

The Peer-to-Peer (P2P) network is another popular way of buying Bitcoin in Canada. A peer-to-peer (P2P) network is an online marketplace that allows two users to conduct a transaction without the need for a third-party or intermediary to facilitate the transaction.

It’s worth noting that customers have been taken advantage of while purchasing Bitcoins via the P2P network in the past. As a result, it is advised to do extensive research on each buyer or seller, while also making it a point to never execute a transaction that falls outside of the parameters.

Obtainable Over the Counter (OTC)

The private transaction that happens between two parties is referred to as an OTC or Over-the-Counter deal. There is no exchange monitoring during the transaction.

If you want to purchase a big amount of Bitcoin ($25,000 or more) all at once, OTC is an excellent option. This is because the procedure for purchasing Bitcoin will protect you from “slippage,” which is a frequent occurrence in the cryptocurrency market.

Slippage in Bitcoin transactions is known to happen when the quantity of Bitcoin you’re purchasing tends to surpass the total amount available at the current stated price.

It’s common for a portion of an order to “slide” to the higher or next available selling price. As a result, you’ll have to pay more than the stated market price. In essence, buying large quantities of Bitcoins with the assistance of a reputable OTC supplier may help the customer save money by providing slippage protection.

When it comes to purchasing Bitcoin, Canadians are fortunate to have a variety of choices. Make sure you pick a reputable supplier, such as MyBTC.ca, for your Bitcoin purchase, regardless of whatever method you choose.

You can buy Bitcoin in Canada! If you think the price of Bitcoin is too high, or if you’re not a fan of the cryptocurrency, there’s no need to worry. Canada offers several options for buying Bitcoin. You can get paid in Canadian dollars, buy Bitcoins on Craig’s List, and all sorts of other options are available.. Read more about where to buy bitcoin in usa with cash and let us know what you think.

Frequently Asked Questions

What is the best way to buy Bitcoin in Canada?

There are many ways to buy Bitcoin in Canada, but the best way is to use a Canadian exchange. This is because they have lower fees and are more trustworthy.

How can I buy bitcoins in Canada in 2020?

In 2020, the price of Bitcoin is expected to be around $6,000.

Where can you buy Bitcoins in Canada?

You can buy Bitcoins in Canada at a number of different locations.

This article broadly covered the following related topics:

  • bitcoin wallet canada
  • bitcoin canada
  • sell bitcoin canada
  • canadian bitcoin exchange
  • buy bitcoin canada credit card
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