Are you ready to take the leap and invest in Bitcoin? As cryptocurrency continues to gain mainstream acceptance, you likely don’t need a lengthy explanation of what it is. So, we will focus on how to buy Bitcoin in Canada.
Here’s a quick 3 step guide to get you started:
Step 1: Sign up for a crypto trading platform.
Step 2: Fund your account.
Step 3: Start trading.
And that’s all there is to it – quick and easy! Now that you know the basics, head to Coinsquare to purchase your first Bitcoin. If you’re looking for more detailed information on buying Bitcoin in Canada, read on for a comprehensive 5-minute guide. Don’t worry if the quick version seemed too fast – this guide will provide in-depth explanations for each step of the process.
Buy and sell Bitcoin, Ethereum, and a variety of other cryptocurrencies with Coinsquare. Sign up and start trading now.
Step 1: Determine how much bitcoin you want to buy
As interest in cryptocurrencies continues to rise, many are seeking ways to purchase and trade cryptocurrency.. However, it’s important to remember that the crypto market can be highly volatile, so it’s crucial to have a plan in place before beginning your crypto journey.
Before making any investments, consider how much money you’re willing to potentially lose and use that as a guide for determining your investment amount. Only then, should you make a final decision.
Step 2: Choose a Canadian crypto exchange for buying Bitcoin
Purchasing cryptocurrencies through exchanges or trading platforms is a popular and secure way to buy. There are many options available and each comes with its own set of advantages and disadvantages. By familiarizing yourself with the features of each exchange, you can make your first Bitcoin experience much more seamless. Some exchanges may offer lower fees but may come at the cost of privacy, security, or insurance. It’s important to have a comprehensive understanding of the exchanges before you trade on them to avoid any bad deals.
If you’re looking to learn how to buy bitcoin in Canada, look no further than Coinsquare. We’re dedicated to making the process of buying, selling, and holding crypto as easy, fast, and safe as possible for Canadians. As Canada’s first crypto trading platform registered as an IIROC investment dealer and marketplace member, we have a proven track record of success. Founded in 2014 with the goal of becoming the go-to crypto trading platform, Coinsquare has grown to be one of Canada’s largest crypto trading platforms, with over half a million Canadians participating in the crypto market through our platform. We’ve raised over $100M in capital and have successfully executed trades worth over $8 billion CAD. At Coinsquare, we’re committed to modernizing finance for all. We believe that financial products should be easy to use, open, and transparent, which is why we’ve designed our platform to make managing, trading, and transferring financial assets as simple as possible.
Step 3: Sign up with Coinsquare and verify your identity
Coinsquare makes the process of buying bitcoin in Canada as simple as possible. You just need to confirm your email address, phone number, and provide some additional information, for Coinsquare to automatically verify your identity. After verification, you can easily log in and make fast Bitcoin transactions whenever you want.
Start trading Bitcoin, Ethereum, and other top cryptocurrencies today on Coinsquare. Sign up and begin your crypto journey.
Step 4: Fund your account
Coinsquare allows you to fund your account for free using Interac e-Transfer or bank wire.
Interac e-Transfer request: This is typically the fastest and most convenient method to fund your account. It usually takes 0-30 minutes to process with a 0% fee. The minimum deposit amount is $20 and the maximum deposit amount is $10,000.
Wire transfers: This method is perfect for making large deposits. There’s no fee, and processing time is within two business days. The minimum deposit amount for bank wire is $10,000 and there is no maximum deposit limit. If you’re a major investor or using bitcoin for business purposes such as paying contractors or suppliers, get in touch with Coinsquare Wealth.
Step 5: Buy your Bitcoin in Canada
When purchasing Bitcoin in Canada, it’s important to exercise caution. Only invest in an amount of Bitcoin that you’re comfortable potentially losing money on and start with small investments. Keep in mind that overnight success is unlikely and take the time to learn the market before making any significant investment decisions.