As one of the first countries to adopt cryptocurrency, Canadians can easily purchase and sell crypto using regulated exchanges and wallets. These platforms offer a variety of deposit methods, including wire transfers and credit/debit cards. Users can choose to store their funds in custodial or non-custodial wallets, depending on their needs and preferences. While investing is the most popular reason for buying Bitcoin, it can also be used to shop online or transfer value to friends and family. Go here :theinvestorscentre.com
To begin, users must create an account with a regulated crypto platform. This typically requires a valid government-issued ID, proof of address, and a secure password. Once verified, they can fund their accounts in Canadian dollars and convert them into BTC. Many crypto platforms provide a built-in custodial wallet, while others allow users to hold their own wallets.
How to Buy Bitcoin in Canada Safely and Easily
The next step is to select a cryptocurrency exchange that accepts your preferred funding method. Some options include TD Bank, RBC, and PayPal, but many prefer to use an Interac e-Transfer. Interac e-Transfer deposits are processed near instantly and carry a 0% deposit fee, with a maximum limit of $10,000 per day.
Alternatively, Canadians can purchase cryptocurrencies from other individuals on peer-to-peer marketplaces like LocalBitcoins or Facebook Marketplace. However, these marketplaces can come with significant risks and may require a high number of transactions to make a profit.
