Options for Purchasing Crypto for Canadians
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There are several options for Canadians who want to purchase cryptocurrency. Here are some of the most popular methods:
- Crypto exchanges: Canadian residents can buy cryptocurrency from several crypto exchanges, including Newton, Shakepay, Bitbuy, and Coinberry. These exchanges offer a user-friendly platform that allows you to buy, sell and trade cryptocurrency with Canadian dollars.
- Bitcoin ATMs: Bitcoin ATMs are becoming increasingly popular in Canada, with over 1,000 machines across the country. Users can use cash to purchase Bitcoin or other cryptocurrencies instantly, without the need for an exchange account.
- Over-the-counter (OTC) trading: OTC trading allows you to buy and sell large amounts of cryptocurrency directly with other traders. Several Canadian-based OTC desks, such as Kraken OTC and OSL Canada, offer this service.
- Peer-to-peer (P2P) trading: P2P trading allows you to buy and sell cryptocurrency directly with other individuals. Platforms such as LocalBitcoins and Paxful connect buyers and sellers, allowing them to negotiate the terms of the transaction.
- Cryptocurrency brokers: Some cryptocurrency brokers, such as Coinsquare and NDAX, allow you to buy and sell cryptocurrency using their platform. These brokers typically charge a higher fee than exchanges, but they offer a more personalized service.
When choosing a cryptocurrency purchasing option, it's important to consider factors such as security, fees, and ease of use. You should also consider the reputation and reliability of the provider before making a purchase.
ShakePay
Shakepay is a Canadian-based cryptocurrency platform that provides a simple and convenient way to buy, sell, and store Bitcoin and other cryptocurrencies. Shakepay offers its users a mobile app that allows them to quickly and easily purchase Bitcoin and Ethereum using their Canadian bank account. The platform also offers a Bitcoin debit card, which can be used to spend cryptocurrency at any merchant that accepts Visa.
Shakepay aims to make cryptocurrency accessible and easy to use for everyone, regardless of their level of technical expertise. The platform offers low fees, competitive exchange rates, and a user-friendly interface that simplifies the process of buying and selling cryptocurrencies. Shakepay is also known for its high level of security, with all funds held in cold storage and protected by multi-signature technology.
To use Shakepay, follow these steps:
- Download the Shakepay app: You can download the Shakepay app on your iOS or Android device from the respective app store.
- Create an account: Sign up for a new account by providing your email address, creating a strong password, and verifying your identity by providing your personal information.
- Link your bank account: Connect your Canadian bank account to Shakepay by following the prompts in the app.
- Add funds: You can add funds to your Shakepay account using Interac e-Transfer or wire transfer.
- Buy cryptocurrency: Once you have funds in your account, you can purchase Bitcoin or Ethereum using Canadian dollars. The app will show you the current exchange rate and fees before you confirm your purchase.
- Store your cryptocurrency: You can store your cryptocurrency in your Shakepay wallet, which is protected by two-factor authentication and multi-signature technology.
- Use your Shakepay debit card: If you have a Shakepay debit card, you can use it to spend your cryptocurrency at any merchant that accepts Visa.
- Sell cryptocurrency: You can sell your cryptocurrency back to Shakepay and withdraw the funds to your linked bank account.
Note that Shakepay is only available for Canadian residents at this time.
Click here to create your free Shakepay account and start purchasing crytpo.
Newton
Newton is a Canadian cryptocurrency exchange that allows users to buy, sell and trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Stellar Lumens. The exchange was founded in 2018 and has quickly become popular among Canadian crypto investors due to its simple and intuitive interface, competitive fees, and fast order execution times.
To use Newton, you first need to sign up for an account and verify your identity. Once your account is verified, you can fund your account with Canadian dollars using Interac e-Transfer, wire transfer, or a bank draft. After your funds are deposited, you can begin trading by placing buy or sell orders for the cryptocurrency of your choice.
Newton is known for its user-friendly platform, low fees, and excellent customer support. The platform is designed to be accessible to both beginner and experienced traders, with easy-to-use tools and resources to help users make informed decisions about their trades. Additionally, Newton stores its users' assets in cold storage, which is an offline storage method that provides an extra layer of security to users' funds.
To use Newton, follow these steps:
- Create an account: Sign up for a new account on the Newton website by providing your email address and creating a strong password.
- Verify your identity: To comply with Canadian regulations, you will need to verify your identity by providing your personal information and a government-issued ID.
- Fund your account: Once your account is verified, you can fund your account with Canadian dollars using Interac e-Transfer, wire transfer, or a bank draft.
- Buy cryptocurrency: With your account funded, you can start buying cryptocurrency on the Newton exchange. Simply select the cryptocurrency you want to purchase and place a buy order with your available funds. Newton offers both market and limit orders to allow users to customize their trading strategy.
- Sell cryptocurrency: You can also sell your cryptocurrency on the Newton exchange by placing a sell order. The funds from the sale will be credited to your Newton account, and you can withdraw them to your linked bank account.
- Store your cryptocurrency: Newton offers a built-in wallet where you can store your cryptocurrency securely. The wallet uses advanced security measures, such as multi-signature authentication and cold storage, to protect your assets.
- Monitor your portfolio: You can monitor your portfolio and track your trades in real-time on the Newton platform. The exchange offers charts, graphs, and other tools to help you analyze your trading performance.
Overall, Newton is a user-friendly and secure platform that is ideal for Canadian crypto investors who want to buy, sell, and trade cryptocurrency.
Click here to create your free Newton account and start purchasing crytpo.
Crypto.com
Crypto.com is a cryptocurrency platform that offers a range of services, including buying, selling, trading, and storing cryptocurrencies. It was founded in 2016 and is headquartered in Hong Kong.
The platform provides a user-friendly interface that allows users to easily buy and sell cryptocurrencies, including Bitcoin, Ethereum, and many others, using their credit card, bank transfer, or cryptocurrency wallet. Crypto.com also offers a mobile app that users can download on their smartphones to manage their crypto transactions on the go.
In addition to trading services, Crypto.com offers a crypto Visa card, which allows users to spend their cryptocurrency at over 70 million merchants worldwide. The card also comes with additional features such as cashback rewards and airport lounge access.
Crypto.com also offers a cryptocurrency wallet, which allows users to store their digital assets securely. The wallet supports a wide range of cryptocurrencies and provides advanced security features such as multi-factor authentication and cold storage.
Overall, Crypto.com is a comprehensive cryptocurrency platform that offers a range of services for investors and traders. Its user-friendly interface, mobile app, and cryptocurrency Visa card make it a popular choice for those who want to buy, sell, and spend their digital assets.
To use Crypto.com, follow these steps:
- Sign up for an account: Visit the Crypto.com website or download the mobile app and sign up for a new account. You will need to provide your personal information and verify your identity.
- Add funds: Once your account is verified, you can add funds to your Crypto.com wallet using your credit or debit card, bank transfer, or cryptocurrency wallet.
- Buy cryptocurrency: With funds in your Crypto.com wallet, you can buy cryptocurrency by selecting the coin you want to purchase and entering the amount you wish to buy. Crypto.com offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others.
- Trade cryptocurrency: Crypto.com also allows you to trade cryptocurrency using its trading platform. You can buy and sell cryptocurrencies with other users on the platform and take advantage of advanced trading tools and features.
- Use the Crypto.com Visa card: Crypto.com offers a Visa card that allows you to spend your cryptocurrency at over 70 million merchants worldwide. You can order the card directly from the Crypto.com app and use it like any other Visa card.
- Store your cryptocurrency: Crypto.com offers a cryptocurrency wallet that allows you to store your digital assets securely. The wallet supports a wide range of cryptocurrencies and provides advanced security features such as multi-factor authentication and cold storage.
- Earn interest: Crypto.com also offers an Earn feature that allows you to earn interest on your cryptocurrency holdings. You can deposit your cryptocurrency into an interest-earning account and earn up to 14% interest per annum.
Overall, Crypto.com is a user-friendly platform that offers a range of services for buying, selling, trading, and storing cryptocurrencies. Its mobile app, cryptocurrency Visa card, and advanced security features make it a popular choice for those looking to invest in digital assets.
Click here to create your free Crypto.com account and start purchasing crypto.
