Where to buy Bitcoin in Canada?

buy Bitcoin in Canada

Did you know that Canada is a Bitcoin-friendly country? This means that buying, selling and creating Bitcoin in Canada is not illegal. In fact, many businesses and individuals in Canada are involved in Bitcoin transactions on a daily basis. Although buying Bitcoin is not as simple as some people may believe, we can’t say that it’s overly complicated either. In order to save you some time and energy, we have decided to highlight a few methods that you can use to buy Bitcoin in Canada.

ATMs

First of all, you can use Bitcoin ATMs. This is a relatively new method of buying bitcoins, but there are already dozens of ATMs like this in Canada and hundreds around the globe. The downside is that these ATMs take a commission which is usually between 5% and 10%. Keep in mind that the normal exchange price is not calculated. However, this is a very secure and fast buying option. Just put some cash in the ATM and scan the mobile wallet QR code to finish the transaction.

Exchanges

Another option you have is to use Bitcoin exchanges. If you spend some time doing research, you will notice that there are dozens of cryptocurrency exchanges out there. If you want to stay on the safe side, select Bitcoin exchanges that are registered in a developed country like Canada, USA, the UK etc. In addition, check the payment methods that are accepted, the verification levels, security features, and fees.

Gift cards

In many cases, people are using bitcoins to buy gift cards, but not all of them know that they can use gift cards to buy bitcoins too. So, try to find and buy some attractive gift card. Next, register and log into a Bitcoin exchange where users accept gift cards and finish the transaction. In some cases, sellers may request a photo of the gift cars and a receipt which is quite natural.

Tete-a-tete

In case you would like to keep Bitcoin transactions as anonymous as possible, you can arrange a person-to-person trade. This means that you should look for a local seller from your city. There are some websites that can help you do this like LocalBitcoins for example. This website provides an escrow service to increase the level of protection for both sides.

Now that you know what options you have, it’s time to select one and buy some bitcoins.

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