The introduction of cryptocurrencies shook the world because we now have various payment options. Canada was not left behind in the rapid transition, as acquiring bitcoin, dogecoin, and other cryptocurrencies became common in the country.
If you live in Canada and want to get into cryptocurrency, sit back and relax because we’ve got you covered. This piece will look at how to get Crypto in Canada without any hassle. Here are some places to buy Bitcoin in Canada.
Obtaining cryptocurrencies in Canada can be accomplished through various channels, the most convenient of which is through crypto exchange platforms. With the increasing popularity of cryptocurrencies, exchange platforms were developed to secure investors’ interests and cash from hackers. These exchange systems were also curated to make transactions as simple as possible for rookie and expert traders.
- Step 1: Select a Crypto Exchange;
- Step 2: Create and Verify Your Account;
- Step 3: Deposit Cash to Invest;
- Step 4: Place Your Cryptocurrency Order;
- Step 5: Choose a Storage Method
Canada has the world’s second-highest number of BTM machines. It now has 681 BTMs spread throughout its cities. You can use these BTMs to buy Bitcoin in Canada but expect to pay a large service fee. Buying Bitcoin with these machines is simple and easy. All you need to do is:
- Select “Buy Coins.”
- Enter your phone number on the keyboard (for verification) and select “Continue.”
- Enter the code you received on your mobile device, then click “Continue Transaction.”
- Click “Bitcoin.”
- Select “Scan Wallet QR Code” when deciding where to send Bitcoins. You have three options (QR code, fresh paper wallet, or manually inputted address); however, scanning the QR code on your wallet is the simplest.
- On your chosen mobile app, select “Receive” or the equivalent.
- Scan the QR Code above the keypad before inserting money into the machine. Begin with a $10 note and go to any other note.
- Select “Finish.”
- Accept the Receipt.
Best app to buy bitcoin in Canada
Coinsmart is the best app for buying bitcoin in Canada. It is one of Canada’s best cryptocurrency exchanges. It is in Toronto and is one of the few sites accepting credit card payments for Bitcoin purchases. It allows you to trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tether, EOS, NEO, Stellar, Cardano, etc. You can fund your account using the coinbase app using various methods such as e-Transfer, bank wire, bank draft, credit card, and debit card. The app also has an excellent security system and minimal transaction fees.
Binance, coinberry, and VirgoCX are among the other notable apps.
Where to buy cryptocurrency in Canada
Although there are various means of buying crypto in Canada, the best place to buy is through an exchange platform. A trusted and reliable platform can guarantee the safety of your funds, transactions, and details. As a crypto ethunusaiat seeking to purchase crypto in Canada, you must consider several factors when choosing a platform. These factors include;
The security of the platform is crucial. If the exchange platform has already been hacked, you may want to reconsider trading on it. Select a secure platform to prevent paying unnecessary costs. Keep your wallet information safe, and never give it to a third party.
Simple user interface
The platform you choose must have a simple user interface. Trading is difficult and time-consuming on exchange platforms with complex user interfaces. As a result, stay away from such platforms. Examine and experiment with many platforms before deciding on one. If you have problems or are unresponsive, exit the platform immediately.
Read also: How to buy Bitcoin in Hong Kong
The best way to test customer care actions is to monitor an exchange platform’s social media. Look at how they respond to their customers in the comments section. You can also send them a message to gauge the tone of their response. You’ll probably enjoy trading on such a platform if the customer service representative responds quickly and softly. There are different types of exchange platforms, and some are listed below;
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