Buy Bitcoins Canada: The Best Ways to Buy Cheap Bitcoins
Looking for a way to buy cheap Bitcoins? Look no further as we have something to offer you – the best ways to buy Bitcoins Canada! Read and find out more!
So, you are interested in buying Bitcoins Canada? That’s great! You can make a great profit out of that, if you play smart and if you know what are you doing.
In Canada, buying Bitcoins is easy, if you use the right exchange office, but we have something better to offer you – the simplest, quickest, and cheapest ways to get to Bitcoins Canada.
In this article, we will present you 3 simple methods to save the most when purchasing Bitcoins with your Canadian bank account:
- Interac Online (1,5% Exchange Fee with Interac Online) – If you are looking for the cheapest way to buy Bitcoins Canada, look no further as this is definitely the one. The purchasing goes through Interac Online on QuadrigaCX at 1,5%. Other services such as Coinsquare provide this service, however, the percentage is a little bit higher. Please bear in mind that Interac Online is a little bit tricky to get. Your debit card needs to have the Interac Online logo (without Visa debit). During the online transaction, your card will differ to Visa debit making it impossible to buy Bitcoins utilizing Interac Online. Currently, there are a few banks that provide them such as RBC, Scotiabank, TD, and others. There are some situations when the branch will refuse to give you the debit cards without the official Visa debit logo. It is also important to keep in mind that you will need to verify your identity with Coinsquare, as well as, QuadrigaCX before being able to make the Bitcoin purchase. You will have to provide a copy of your ID or Driver’s License, proof of address, and a photo of yourself holding your ID.
- E-Transfer (2.5% Exchange Fee with Electronic Funds) – The next method is e-transfer or Electronic Funds Transfer. This is one of the most popular methods to transfer cash in Canada. Using this method to purchase Bitcoins nets 2.5% exchange fee with QuadrigaCX and 5% with Coinsquare. If you are having second thoughts about the first method or you simply don’t want to use it, this is your next best match. Please keep in mind that verification is also required for this method and an additional layer of verification from Equifax, if you decide to sign up through QuadrigaCX. It usually takes 3-5 working days to receive your Bitcoins.
- Mastercard or Visa Debit (4.49% Exchange Fee with Mastercard or Visa Debit) – This is the third method you could use to buy cheap Bitcoins Canada. If you don’t have access to Interac Online and you found the process of verification for e-transfer complicated and dull, this is your next option. Even though it is the most expensive method on this list, it is relatively cheap to use it to get Bitcoins. Coinbase allows all Canadians to purchase Bitcoins by using their Mastercard or Visa debit without significant verification. Please keep in mind that from the start, you are limited to $200 CAD per week. But, don’t worry, as there are many ways to increase the limit. If you purchase Bitcoins using Coinbase, that’s great, but keep in mind that you can’t sell them. Coinbase does not allow the sale of Bitcoins or other cryptocurrencies on their exchange, meaning you will have to move all of your coins to another exchange in order to sell them. Verification, in this case, is required.
Are you ready to buy your first Bitcoins?