Easiest way to get bitcoins in Canada
Easiest way to get bitcoins in Canada
Canadians have always welcomed Bitcoin even though they have been known to be very conservatives investors. A report published by the Bank of Canada, (BOC) in 2018 Survey: “Awareness and Usage,” made several discoveries. One of notable findings is that approximately five percent of Canadians are in possession Bitcoin in 2018. If we compare that to 2016, it was a two percent increase which is a 2% increase. Another finding was that approximately 3% of Canadians were in possession of Bitcoin in the past. owners, which means Canadians are starting to become well aware of Bitcoin and how to invest. Luckily, there are several options and methods for Canadians to buy Bitcoin.
This article will tell how you can buy Bitcoin in Canada by using any of the five most common buying methods. Not only will this article talk about the popular buying methods, it will also focus on speedy buying methods because most of the users in Canada don’t have a whole day waste when buying Bitcoin. In fact, you are going to get yourself familiar with some methods through which you can buy Bitcoin in less than an hour.
5 Simple Modes to Buy Bitcoin in Canada 2019
- ONLINE BITCOIN EXCHANGES
Online Bitcoin exchanges are the most common place where you can buy Bitcoin. This method is gaining popularity among Canadians because of its ease and simplicity. Exchanges are not popular among Canadians, but people all over the globe are buying Bitcoin through this medium. According to bitcoinist.com in 2018 cryptocurrency exchanges traded more than $2 Trillion in Bitcoin.
There are several options for funding your account in online exchanges. Some of the top funding methods are:
Several online trading platforms integrated Interac e-Transfer as a method of funding for your account. Generally, people living in Canada find this method the easiest and most convenient. It is also common offered among most cryptocurrency exchanges in Canada. Interac e-Transfer is a Canadian digital interbank method of transfer. All the customer has to do is login to their online banking or banking app, include the amount and email of the recipient. You done! This is the best way to buy Bitcoin in Canada because of its speed and low transaction fees.
Another popular option to buy Bitcoin in Canada is sending a bank wire. It is offered by several trading platforms in Canada. In this method, the customer requires to visit the bank and for some banks, via their online banking. Many of the Canadian find it inconvenient, especially during the winter months. Most of the bitcoin exchanges approve Bank wires within 1-4 business days. Also, keep this in mind that as it is a traditional banking system, funding while using Bank wires can take longer time.
If you are among those Canadians who wish to buy Bitcoin instantly, Flexepin is a good option. It sells vouchers that come with unique pin codes which you can enter on different online services in order to make any purchase or fund your accounts. There are thousands of locations in Canada from where you can purchase flexepin vouchers.
In this technological era, everyone is familiar with the usage of a credit cards. Interestingly, you can now buy Bitcoin with your credit card from both an online and offline platform. But you should know that there are certain credit card companies that consider buying Bitcoin by using paying cash in advance. This is a bit costly process of buying Bitcoin.
- BITCOIN ATMs
Talking about the original mode of buying Bitcoin in Canada is through a Bitcoin ATM. BaapBitcoinATM provides the users an
opportunity to buy bitcoins for cash or through Interac debit card. Though this method is considered outdated, it is best for those who want to buy Bitcoin by cash and don’t want to reveal their identity. Buying Bitcoin through this method is costlier because you have to pay an ATM fee that can be in between 6-8% above market price.
- Debit CARD
- PEER-TO-PEER NETWORK
Another option to buy Bitcoin in Canada is through a Peer-to-Peer network. Those who don’t know much about P2P network, reading this will give them the basic knowledge. P2P network is a kind of online marketplace where users can make transactions without the involvement of any middleman. Localbitcoins.com is the most common P2P network from where you can buy Bitcoin in Canada. It is a safe mode of transaction because the website provides an escrow service to safeguard the buyers.
- Debit CARD
- OVER-THE-COUNTER (OTC)
Over the counter (OTC) trading option is a private trading option which is done between two parties without the control of any exchange. If you are looking for a mode from which you can buy bitcoins in a large amount at one time, OTC is the best option. You can buy more than $25,000 from this mode because it will safeguard you from slippage (a market phenomenon).
*Slippage refers to the situation that occurs when the amount of Bitcoin you are purchasing is more than the amount usable at the quoted price.
- IN-PERSON RETAIL LOCATION
If you are among those who generally prefer going to a retail store for buying all your shopping stuff, the in-person retail location would be the best option for you. Going to a retail location will give you details about the Bitcoin brokerage. You will also come to know about other cryptocurrency. Moreover, they provide retailers with an opportunity to sell cryptocurrency at thousands of different locations in Canada. So, if you prefer to speak to a real person this can be a better option for you.
To recapitulate, Canadians are lucky as they are available with so many different options and payment modes to purchase Bitcoin. They can decide to purchase it from the in-person retail store or online. So, if you are going to buy Bitcoin for the first time in Canada, don’t think it would be a waste of your time.
You can Buy Bitcoin and other cryptocurrency directly from PCCEX Cryptocurrency Exchange by signing up or registering. Buy, sell and trade Bitcoin on PCCEX, Canada’s best cryptocurrency exchange.
– Easiest way to get bitcoins in Canada