How to Buy Bitcoin in Canada: A Simple Guide

How to Buy Bitcoin in Canada: A Simple Guide

People are always looking for a way to invest their money in something that can provide profit in the long run or even better – after a short period of time. They are investing in real estate, bonds, precious metals and recently – in cryptocurrencies too. Bitcoin is by far the most popular cryptocurrency. In fact, its Bitcoin’s “fault” that digital currencies have become so popular around the globe. Canada, as one of the countries where Bitcoin is legal, has an exceptionally high number of daily transactions that include Bitcoins. It looks like not only experienced investors would like to try their luck with this cryptocurrency.

If you are trying to find out how to buy Bitcoin in Canada, you have come to the right place. With the help of this simple guide that we have created, you will get an opportunity to buy some bitcoins right away. before we provide some examples, we should mention that every transaction you make online via Bitcoin exchange platforms comes with a certain fee. That’s why it’s a good move to use different platforms depending on the amount of money you are prepared to invest.

First of all, if you want to buy Bitcoin for over 500 CAD and you don’t mind waiting for the transaction to be completed, you can try CanadianBitcoins. This is a relatively small exchange, but it has proven to be reliable.

Next, if you are trying to make transactions worth between 200 and 500 CAD you can choose a few different platforms. First of all, there is Kijiji which is obviously not a classic Bitcoin exchange, but you can arrange cash deals. There is also LocalBitcoins. This website works like a classified ad site where you can meet people in your city for cash sales. This option may not be very convenient because you have to meet the seller, but it’s almost completely anonymous because only the seller will know that you bought Bitcoins – there are no online traces of these transactions. MyCelium is another local trading option. It’s actually an Android app for locating Bitcoin sellers in your area.

Finally, in case you prefer very fast transfers and purchasing small amounts of Bitcoins, opt for QuickBT. You can use Interac Debit to complete these transactions which usually last for a few minutes. Keep in mind that the fee is a little bit higher.

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