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How To Buy Bitcoin In Canada (And Find Out Where, Too)

This is where you’ll want to spend some time researching, as online exchanges vary wildly in terms of features, benefits, and security. Start with how you want to invest. Are you interested in only one type of cryptocurrency, or do you want to invest in several? What payment methods do you plan to use for purchases (e.g. via link to your Canadian bank account, or paying with crypto you already have)? Do you want the ability to trade on your smartphone? You also need to be absolutely sure that the exchange you choose is trustworthy and can provide support if you need it.

One option that ticks several boxes is CoinSmart*, a Canadian digital currency exchange (DCE) made exclusively for buying and selling bitcoin (as well as other cryptocurrencies, including Ethereum, Litecoin, and more) in Canadian dollars.

Over 95% of CoinSmart’s currency is held in “cold storage” wallets, meaning your funds are kept offline. This is the industry’s most advanced method of ensuring the security of your bitcoin. Also, CoinSmart partners with two banks (DCBank and Switzerland-based InCore Bank) for secure onboarding and offboarding of funds.

CoinSmart also offers low or $0 fees for transactions, including deposits, withdrawals and trading. Refer a new user and you can also earn bonus credits.

Getting started is easy: just create an online account and you’ll receive verification in minutes. Your CoinSmart digital wallet allows you to buy bitcoin with money transferred directly from your Canadian bank account. You can also fund your CoinSmart purchases with your credit card, cryptocurrency you already own, or a bank draft. Deposits are credited to your account on the same day – unlike some online platforms, there is no waiting period.

CoinSmart’s user interface is designed to be intuitive even for novice investors, allowing you to buy, sell and trade cryptocurrencies with one click. And if you need help, 24/7 support is available via email, phone or live chat. (Advanced trading features are available for those with more trading experience.)

Canadians can buy and sell crypto on CoinSmart*

What it comes down to:

With Canada becoming the first country to approve cryptocurrency ETFs in early 2021, it is becoming increasingly clear that bitcoin is not going away. While some people like to keep crypto in a pre-selected basket of securities, for those who want to hold bitcoin and other cyber currencies directly, it’s important to connect to a platform that stays up to date with legal requirements and provides peace of mind that the money is there. that you use to fund your account, as well as your bitcoin, is safe.

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This post How To Buy Bitcoin In Canada (And Find Out Where, Too) was original published at “https://www.moneysense.ca/save/investing/how-to-buy-bitcoin-in-canada-and-find-out-where-too/”

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