Let’s take a look at what you need to know about buying and selling Bitcoin in Canada, so you can start investing in no time.
Si eres con sede en Canadá and you are completely new to the Cripto casino world, diving straight into the trading aspect can be a bit overwhelming at first. Thankfully, learning the ropes of Bitcoin trading is quite straightforward, and we are here to shine a light on the process!
Let’s start with the mother of all questions regarding Bitcoin in Canada – is it actually legal in the country?
Monedas digitales are not recognized as real money in Canada, but trading with Bitcoin is 100% legal. The Government specifies that tax rules apply to every Bitcoin transaction, and all cryptocurrencies are taxed as a capital gain or business income. Therefore, nothing stops you from trading Bitcoin in Canada – as long as you play by the rules and pay your taxes!
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Obtenga un bono de depósito criptográfico del 150%
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BONO DE BIENVENIDA DE $500 + 100 GIROS
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Bono de 1BTC + 10% de reembolso semanal
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Bono de bienvenida del 1000% + 100 tiradas gratis
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Now that we have cleared the legal status of Bitcoin in Canada, let’s take a look at the first option for buying and selling digital assets – a crypto exchange.
Crypto exchange sites are platforms where buyers from all over the world, including Canada meet to comprar y vender Bitcoin Y otras criptocurrencias.
Exchanges have low fees, but on the surface, their interfaces may seem a bit complex to newbies in the industry. Advanced performance charts, trade types, and other functionalities might confuse you at first, but you will grasp the basics pretty quickly.
Canada is home to some local crypto exchange platforms, with the most notable ones being:
Todos novices in the Bitcoin trading world need to remember to check whether the crypto exchange platform supports fiat currency transfers with Canadian dollars. Some exchanges will only allow you to buy Bitcoin with another crypto, but most of the options we suggested above support e-transfers and bank wires.
Interac is arguably the most convenient option for Canadians for buying Bitcoin, but bank wires are also a possibility. Note that if you choose the latter, it might take up to 3 days for the funds to reach your account at the exchange.
Arguably the most used payment method among Canadians for buying Bitcoin is a credit card, but be wary of the fees that can range from 5-10% per transaction.
All in all, we can summarize the process of buying Bitcoin from a crypto exchange as follows:
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juega Todos los juegos criptográficos
FS (chip): 110% hasta 1000USD
Código (s) de bonificación: N/A
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juega Juegos de Crypto
FS (chip): 1 BTC + 10% de reembolso semanal
Código (s) de bonificación: N/A
Válido hasta nuevo aviso
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If you are not a big fan of crypto exchange platforms, we invite you to utilize the perks of P2P platforms. They are also intercambios criptográficos where you can trade Bitcoin and other digital assets with other users, but they are local ones – without any third-party involvement from a broker or a custodian for your digital assets.
As such, the fees at Plataformas P2P tend to be much lower, so as long as you choose a reputable platform, you have nothing to worry about! To start trading at P2P platforms, all you have to do is follow the next few steps:
With all this in mind, to save you valuable time on research, here are our suggestions if you are on the lookout for top-class P2P platforms:
You can also buy Bitcoin from a specialized ATM. Bitcoin ATMs have gained popularity over the past few years as an easy way for you to purchase the digital asset using your cash. So, buying Bitcoin from an ATM is a walk in the park, and you need to follow the next few steps:
It might seem a bit weird, but face-to-face Bitcoin trades are growing in popularity in Canada. If you value privacy and security, then you ought to think about this method of obtaining Bitcoin assets.
The process is quite similar to a P2P platform trading – you will find someone to deal with, and instead of making a wire transfer, you arrange a meeting and exchange Bitcoin for cash. Note that such meetings require you to add an extra layer of security – never reveal your true identity or the address where you live.
Despite the fact that the entire crypto market is fluctuating and sometimes highly volatile, the Canadian Bitcoin community remains active. As you can see, trading with Bitcoin is a very simple process, so as long as you choose a reputable platform and stick by Canada laws, you have nothing to worry about!
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Yes, it is! Bitcoin is not recognized as an official currency in the country, but it is 100% legal to trade with the digital asset. Note that you have to pay taxes on your crypto holdings.
This mainly depends on your preferences as a digital assets trader. As a beginner, you might be better off starting your Bitcoin trading journey at exchange platforms.
Thankfully, you have a plethora of platforms to choose from! Some of the most prominent ones include Coinbase, BitBuy, Netcoins, and Binance Canada.
As long as you don’t reveal your identity and where you live, you have nothing to worry about with face-to-face meetings. As a side note, make sure to choose a public place for the trade, just as a precaution.
At the moment, there are more than 2,600 Bitcoin ATMs in Canada, which makes up for about 6.5% of the world’s total Bitcoin ATMs! Canada has the second-largest collection of Bitcoin ATMs in the world.