Buying Bitcoin in Canada
Now that marijuana and buying bitcoin are both legal in Canada, the country has finally proven it’s not just America’s hat to the world.
From the east in Montreal and Ontario to Vancouver and Calgary (there’s very little in the middle of Canada from what we know), everyone is looking to buy bitcoin in this country. The Bitcoin Embassy opened in Montreal years ago before the media wrote anything about bitcoin prices.
Ontario’s ATM adoption is absolutely crazy. There are 650 Bitcoin ATMs in Canada but Toronto needs 200 for some reason?!? What are you people doing up there to need so many ATMs?
Anyone wanting to save 5-10% in fees for buying bitcoin from an ATM, will most likely want to use one of more popular bitcoin exchanges Canadians have been using for the last few years.
Best Bitcoin Exchanges in Canada for 2020:
|Canadian Bitcoins||Exchange / Trading Platform||Yes||CAD, BTC, ETH, LTC, Dash|
|Kraken||Exchange / Trading Platform||Yes||EUR, CAD, USD|
|Coinbase||Exchange / Trading Platform||Yes||USD, CAD, AUD, GBP, EUR|
|LocalBitcoins||Person to Person Bitcoin||Yes||Worldwide Currencies|
|CoinCorner||Exchange||Yes||AUD, CAD, EUR, GBP|
|Changelly||Anonymous Bitcoin and Altcoin Purchases||No||CAD, USD, GBP|
Buying Bitcoin with Credit Cards in Canada
Most Canadian banks have blocked credit card transactions since early 2018, out of fear that something other than the Pound or US dollar becomes more valuable than the Canadian Dollar. Now that the economy has marijuana money, everyone will value Canada’s plastic dollars that kind of smell like maple syrup. Canadian Bitcoins is the one to risk it with credit cards in Canada, QuadricaCX and MyBTC are popular with Interac and Bank Wires for purchasing bitcoin in Canada. There is also the pre-paid credit card option that is popular with people wanting smaller amounts of bitcoin at bisq, Paxful and Coinmama.
Buying Bitcoin Anonymously in Canada
Anonymous purchases of bitcoin, that are also trustworthy, are becoming less common, as the bitcoin exchanges and banks become more connected. There will always be options for those that want to avoid the hassles of KYC and having your personal information “trusted” by third parties like exchanges and banks. Changelly with pre-paid cards is popular around the world, Localbitcoin may not ask for verification if the amount is below a certain amount.
Bisq has a good amount of Canadians trading, along with Paxful and HodlHodl. There are also bitcoin meetups in major cities like Vancouver, Toronto and Montreal that are quite active. Along with Craigslist and Kijiji bitcoin ads, people around your area will certainly know where you can buy the “good stuff.”
The best anonymous exchanges in Canada currently are:
|Anonymous BTC Exchange||KYC||Popular In?||Currencies|
|Global||Western Union, MoneyGram, Visa Prepaid Cards, Amazon Gift Cards|
|Global||AUD, CAD, EUR, GBP, INR, JPY, NZD, RUB, SEK, ZAR (More)|
|Global||All National Currencies, BTC, ETH, LTC (more)|
|South America, India, Aus, US||ARS, AUD, INR, USD|
|Global||BTC, ETH, LTC, Hundreds of Alt-coins|
|Outside USA||BTC, ETH, LTC, Hundreds of Alt-coins|
Selling Bitcoin in Canada
The same options above for buying bitcoin in Canada will also work for selling bitcoin. Whenever interest in crypto currency increases, as we saw at the end of 2017, it is always a good idea to cash out some profits until the next time bitcoin becomes cheap again to force us into buying it all over.