Canada has multiple exchanges that allow people to purchase Bitcoin. Keep in mind that there are several factors to take into consideration before you purchase Canadian Bitcoin, including the payment method, delivery speed, fees, and trading volume. With that being said, here is a look at the best options to consider as you analyze how to buy Bitcoin in Canada.
Coinbase is considered one of the most popular exchanges in the World. You can purchase Bitcoin using your debit card. Coinbase acts as a brokerage, so you’d be purchasing directly from Coinbase instead of another user. Coinbase is seen by analysts as an easy way for beginners to get Bitcoins. You’ll also have access to high liquidity and large buying limits.
Coinmama is a brokerage that allows you to purchase Bitcoin using your credit and debit cards. There is a 4% interest charge on each purchase, however the brokerage offers instant delivery on every Bitcoin that is purchased. Coinmama offers different packages, so that you can find the package that suits your individual needs. Coinmama works in every country around the World.
MyBTC.ca is a brokerage site that allows people to buy Bitcoin with instant payment methods like bankwire, e-transfer, instant debit, and Flexepin. There is a large range regarding the buying limit, as it stretches from $20 all the way to $80,000. All transactions require ID verification that you can submit. You can also complete the verification process in person by going to the nearest Canada Post. MyBTC.ca is available through live chat, email, phone, or SMS text.
Bitbuy.ca is an exchange that buys and sells digital currency. Keep in mind that once you have created an account on Bitbuy, you’ll have to fill out a Know Your Customer Form to help ensure that you are adhering to Canada’s regulations. Bitbuy.ca is known for its low fees.
Kraken is one of the most popular exchanges in the World. Deposits are made using bank wire and SWIFT. Kraken has received high marks for its security measures. The exchange also has a low taker fee.
LocalBitcoins is unique from other exchanges because it is an escrow service. LocalBitcoins help match buyers and sellers. While cash deposit is the primary source of payment for different transactions, you may set up a trade for whatever payment method is best for you. Users love the privacy of the service and the speed of each transaction.