In case you live in Canada, you should know that buying, trading and selling Bitcoin is not always an easy task despite the fact that these activities are completely legal. Namely, many regulators and banks are not great fans of cryptocurrencies and they are actually trying to discourage users to get involved in activities like this. It is quite natural to witness this situation because cryptocurrencies like Bitcoin are against centralized regulation of currencies.
If you are wondering where to buy Bitcoin in Canada, you should know that there are a few places where you can finish this task smoothly.
We will start with probably the biggest Bitcoin exchange in the world – the US-based Coinbase. You can use a credit card to buy Bitcoin if you are in Canada. This platform charges 4% fee on every purchase through credit/debit card. For those who are new to this, we will say that this fee is very low compared to other platforms. In order to buy Bitcoin or other cryptocurrencies via Coinbase, you have to open an account, link your credit card, verify your ID and select how many coins you want to buy.
Canadians love Coinbase because this platform offers high buying limits, has high liquidity, and gives you an instant buy option. In addition, this is a platform that is easy to use making it ideal for first-time users.
It seems that the United Kingdom has some great Bitcoin exchanges that work for Canadian users too. CEX.IO is a British broker that works for over 5 years now. In order to buy Bitcoins via CEX.IO, you have to link the payment card in CAD and buy these coins immediately. Users can utilize both MasterCard and VISA cards and they don’t have to use gift cards or pre-paid cards to finish the transaction. It’s also good to know that this website has a relatively simple interface.
Now here’s a Bitcoin broker with an interesting name. Coinmama is a platform where you can buy both Bitcoin and Ethereum in Canada. Similar to the other options we’ve mentioned here, you can use a credit card or debit card to finish these transactions.
There are many things to like about Coinmama and one of them is the simplicity of the website. All it takes to trade Bitcoins is to sign up and use your payment card to buy Bitcoin. It’s also good to know that this website doesn’t have its own wallet. They allow users to make a personal wallet on Blockchain.info.
There are many words that we can use to describe this American-based online cryptocurrency exchange, but reliable, quick and simple are the best ones. Future users need just a few minutes to sign up and the website provides four different levels of verification. You don’t have to pass all these verification levels, but if you pass them your withdrawal limit will be raised. Poloniex has a user-friendly design and an excellent customer support. It is quite popular in the United States, but more and more Canadians have started using it in the last few months.
Lastly, you have Kraken. This is another large Bitcoin exchange where users can buy Bitcoins in Canadian dollars and few other fiat currencies and digital currencies too. Kraken is considered to be one of the safest exchanges too. Despite their stellar reviews and the use of the latest technology in the transaction processes, their fees are more than reasonable which is great.
We hope that this article will provide an answer to your question – where to buy Bitcoin in Canada?