In 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.