How to Buy Bitcoin in Canada?

BittyBot CAIn Canada, there are several ways to buy Bitcoin online.  One way is to buy Bitcoin from an online brokerage site and another is to use a Bitcoin exchange.  There’s no right or wrong option as both methods of buying Bitcoin are completely legitimate, the decision is primarily evaluated based on your needs.  Two services to consider using in Canada are MyBTC.ca online Bitcoin brokerage and QuadrigaCX Bitcoin exchange, both are trusted by the online community and offer instant and convenient payment options so that you can buy Bitcoin in Canada fast and easily.

MyBTC.ca Bitcoin brokerage site helps Canadians buy $20-$500 worth of Bitcoin in seconds with prepaid non-reloadable credit card or Flexepin voucher codes that can be purchased at thousands of well-known retailers open 24/7 Canada-wide.  Once you have a prepaid non-reloadable credit card or Flexepin voucher code(s), you come back to the site and enter your Canadian mobile phone number, press “Text Me” and then confirm the short SMS code they text you to advance to the processing page.  Once on the processing page you enter your details in the required fields along with your prepaid credit card info or Flexepin voucher code and then Bitcoin are instantly sent to the wallet address you provided — No ID or verification wait times involved.

QuadrigaCX is the leading Bitcoin exchange in Canada by volume and customer base.  QuadrigaCX also offers an instant option plus a plethora of funding methods to buy Bitcoin with or without having to provide ID.  If you need Bitcoins in a hurry, you can activate your account with them immediately by passing the Equifax eID verifier multiple choice test, based on questions pulled from your credit profile, to gain access to Interac Online instant funding and also unlock the ability to send a Bank Wire.  Bank Draft and Money Order funding options don’t require any ID verification at all, same applies for if you want to fund with Bitcoin and withdraw to your bank, credit card or via e-Transfer, among many other options. Minimum buy amount is $50 and the max per day is $500,000.

If you are interested in the ever-popular Interac e-Transfer funding option then you’ll have to complete both ID and Equifax verification.  If all documents you have provided are satisfactory, your ID verification will be completed within 1-3 business days, after which, you’ll then be able to fund your account with Interac e-Transfer.  Once you have Canadian dollars within the exchange you can then trade them on their CAD/XBT orderbook for Bitcoin which will instantly appear within your account’s built-in wallet on the exchange and become available for withdrawal.  For small orders under $1,000 we suggest using their Dashboard tab to place a market order and for larger trades it might be best to use the Trade tab to place a limit order and wait for it to fill at a specific price you desire.

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4 Comments

  1. Hello, just investigating. I am interested in bitcoin, as an investment. If I set up an account can I buy a position that is not a full bitcoin, say 1/2 or 1/4 of a bitcoin. Where would it be held, and how easy to trade and redeem it in Canadian $$$. Also i would like to follow the progress of bitcoin.

    If I am interested,it is possible to say by $5000 canadian into bitcoin

    • Hi Jack, yes you can buy a fraction of bitcoin, up to 8 decimal places. If you want to invest a large amount and also be able to trade CAD/BTC and vice versa then it’s probably best to use a bitcoin exchange such as QuadrigaCX, they provide a wallet to hold your bitcoins or if you wanted to hold bitcoins longterm you could look at sending them to your own wallet on a computer or mobile device.

  2. This is based on my personal experiences and you should make your own judgments when considering using QuadrigaCX

    I have been trying to get verified for far too long now and QuadrigaCX just don’t respond at all, they’ve totally messed up my Equifax rating and their payment methods are out dated and not in line with current Canadian bank practices. I do not consider going to a bank to get a cheque then sending it by post to them only to find they will hang onto it for a minimum of three days acceptable. Come on, we are buying digital currency here people and entering the world of instant payments, isn’t that the point !!!

    I have to tell you that QuadrigaCX has terrible customer service. Perhaps that’s an injustice saying terrible because they do not answer emails and you cannot telephone them at all. I am sure there are some people out there who have nothing good to say about QuadrigaCX but after my personal experiences and reading about other peoples shocking experiences I can only advise using QuadrigaCX if you have no other option. QuadrigaCX are welcome to contact me and discuss my issues but I have been trying to do just that for a long time already, I’m pretty confident that will never happen.

    I am fully aware of why secure verification is needed but perhaps the one thing to consider is if somebody with an exemplary credit score higher than 900 who wants to fund his account legitimately cannot do so then who the hell can and what would happen when I want to withdraw my money ?? These are big questions that QuadrigaCX are not prepared to answer. BE CAREFULL

    Things happen in the digital world, that’s just how it is so do your research and don’t use an exchange that you cannot contact when you need them. Good luck to anybody who uses them, you will need it

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