Canada is one of the biggest emerging markets for Bitcoin despite the fact that banks have not helped people to acquire them. But in the recent few years, it has become easier to buy Bitcoin in Canada, thanks to the upsurge of Bitcoin exchanges. If you’re just entering the world of Bitcoin, there is a steep learning curve. You have to acquaint yourself with the different kinds of Bitcoin wallets. You have to also go through the hassle of submitting required documents and wiring money. But with these methods, it doesn’t have to be difficult to buy bitcoins in Canada:
1. Buy Bitcoin in Canada with credit cards
The first question most people in Canada and the world ask is how to buy Bitcoin in Canada. Well, there are many exchanges in Canada to buy Bitcoin. But the best one is Coinbase. So to buy Bitcoin in Canada with Coinbase, you need to create an account first. It’s a good idea to create 2FA setup for an added layer of security. It also comes with a wallet to store your Bitcoins. The good thing about Coinbase is that it has a user-friendly interface that allows even the beginner to use it. You can use your visa card or master card to purchase Bitcoins on Coinbase. You can buy as much as CAD 200 worth of Bitcoins with your visa card and credit card. You don’t even need any form of verification unless you want to increase your limit. Coinbase deducts 4.49% of any Bitcoin purchase as commission; which is why it’s recommended that you move your Bitcoins to your wallet.
2. You can easily buy Bitcoin in Canada from a Bitcoin ATM
Canadian Bitcoin companies have installed many Bitcoin ATMs in strategic locations in major cities. You can go to a Bitcoin ATM with your Bitcoin wallet and buy Bitcoins easily. But there is a catch: You’ll pay much higher fees than using Bitcoin exchanges. But, the awesome part about Bitcoin ATMs is that the transactions are anonymous. The advantage to buying Bitcoin from Bitcoin ATM is that transactions happen in a matter of seconds. So if you want to buy Bitcoins, and have them in your wallet quickly, Bitcoin ATM is the best choice.
Although other countries are putting restrictions on Bitcoin activities, Canada is quickly embracing the cryptocurrency. So if you are in Canada, you had better start venturing into the Bitcoin world. The future of the cryptocurrency is bright.