Everything you need to know about buying Bitcoin in Canada

Those who want to buy Bitcoin in Canada are probably aware that trading, selling and buying Bitcoin is legal. But, despite this fact, this doesn’t mean that it’s easy to easily and quickly purchase this cryptocurrency. On top of that, there are always some scammers trying to rip you off with huge fees or with false transactions. That’s why it’s a smart move to be careful and follow some tips that can guarantee safe Bitcoin transactions.

Canadians can by Bitcoin from a wide array of well-established Canadian-based exchanges. Selling Bitcoin is another story and it appears that it’s a little bit complicated to do this because fewer exchanges allow selling.

It’s interesting that the places where you can buy Bitcoin in Canada, usually depend on the payment method you are trying to use. First of all, most people like to know how to buy Bitcoin with debit cards or credit cards. If you are one of them you should know that you have a few options like CoinMama, Xcoins.io, Coinbase, and SpectroCoin.

Don’t forget that purchasing Bitcoin with a credit/debit card is significantly higher. There is one simple reason why is that so – credit card charges can be reversed, but Bitcoin charges can’t be reversed. To put it simply, there is an additional risk for the sellers and that’s why the price is higher. Yet, this is still the easiest and most convenient way to buy Bitcoin in Canada.

Additionally, people in Canada can buy Bitcoin in cash. For this purpose, they can use two options. First of all, you can use LocalBitcoins. This is a P2P exchange that arranges physical meetings between sellers and buyers that live in the same area. This is an anonymous method preferred by many people in Canada. The other option you have is Bitquick. It’s a special escrow service for bitcoins.

Paxful and Xcoins.io are two reliable places where you can buy Bitcoin with PayPal. For some reason, PayPal is not fond of Bitcoin and that’s why you won’t find many places that are offering this options.

Finally, you can also buy Bitcoin with ordinary bank account transfer from your Canadian bank. The most popular exchanges that accept this kind of transfers for buying Bitcoin include QuadrigaCX, SpectroCoin, Quebex, and Kraken. Some of these services are based in Canada while others are based in the United States.

2018-03-01T02:34:43+00:00