How to buy Bitcoin in Canada

One of the most common questions I get is how to buy bitcoin? There are a ton of ways to buy bitcoin and I am going to try my best to cover them all but excuse me if I miss some. If you want to buy bitcoin most people buy it online, locally at a Bitcoin ATM or in person.  I am going to focus on online options as Bitcoin ATMs can be convenient but you pay for that convenience with high fees and in-person options open you up to risk and potentially scary face to face transactions with strangers.

 

Canadian Bitcoin Exchanges

  • QuadrigaCX
  • Coinsquare
  • Coinbase

 

QuadrigaCX

QuadrigaCX is one of Canadas oldest Bitcoin exchange, based in Vancouver they are a good option if you want to buy Bitcoin with a debt card.

The first step is to open an account and signup to QuadrigaCX.

Pros

  • Buy with Debit
  • Canadian Company
  • Supports Selling

Cons

  • No credit card support
  • Not as user-friendly as Coinbase or Coinsquare

 

Signup to QuadrigaCX

 

Coinsquare

Coinsquare is one of the simplest ways to buy Bitcoin in Canada. Like Quadriga they support debit card purchases and selling. Basic buying and selling are very easy but I do not recommend trading on their platform as it is very opaque.

Pros

  • Very easy interface
  • Buy with Debit
  • Canadian Company
  • Supports Selling

Cons

  • No credit card support
  • Advanced trading is confusing

Buy Bitcoin with Coinsquare

Coinbase

Coinbase is probably where most people start buying bitcoin mainly because it supports credit card purchases. However, Coinbase doesn’t support selling in Canada and Canadian banks are increasingly not allowing buying bitcoin on credit.

Pros

  • Largest Exchange
  • Buy with a Credit card

Cons

  • Extremely low limits on new accounts
  • No debit support
  • No selling support in Canada

Sign to Coinbase

3 Replies to “How to buy Bitcoin in Canada”

  1. A great concise summary of the crypto buying options in Canada. I wish I saw this fist as it took a while to sift through the garbage out there

    Would love to see what the most affordable options are to sell crypto back to Fiat as well as what the best crypto to crypto exchanges are.

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