The cryptocurrency industry is expanding rapidly in Canada and more people are looking for ways to get involved. Buying and selling crypto is simple on most exchanges, although the best approach depends on your goals. Investors should first make sure that they understand the risks and technology behind Bitcoin, before investing. Learn more
Getting started with crypto can be intimidating, particularly for beginners who may not know the best platforms or apps to use. Custodial options like Shakepay, Coinsquare, Bitbuy and Wealthsimple offer user-friendly interfaces and support a wide range of funding methods for Bitcoin purchases. They also typically provide a mobile app for ease of use on-the-go.
Step-by-Step Guide to Buying Bitcoin in Canada
In addition, there are many regulated Canadian exchanges for cryptocurrencies. Newton, a Toronto-based exchange, offers a no-fee platform that allows users to connect their bank accounts and purchase crypto at market price. They accept Interac e-transfer, PayPal and wire transfers. Newton also provides market data and insights to help users navigate the market.
Another reputable option is Kraken, an international exchange that caters to Canada and the US. Users can create an account and link a funding method to trade over 400+ assets, including Bitcoin. They can also swap coins with one another through a simple atomic swap.
For those who want to invest in crypto directly, there are a number of public companies that trade on the Canadian and US markets. These firms are backed by professional investors and offer exposure to the growing blockchain/crypto sector.