How to Buy, Sell & Trade Bitcoins in Canada: The Ultimate Guide
Canada is a pretty difficult place to find potential vendors where you can sell Bitcoins for USD or CAD. Read and discover how to buy, sell, and trade Bitcoins in Canada!
As it turns out Canada is a country where you can easily buy Bitcoins, however, it is not so easy to find potential vendors where you can sell your coins for USD or CAD. In other words, you can get to your first Bitcoins but selling and trading Bitcoin is another matter.
In this article, we will discuss how to buy Bitcoins, how to sell, and trade them in Canada. Let’s start.
You can easily buy Bitcoins from well-known and secure Canadian exchanges but you can only sell for Canadian dollars at a few. There are great Bitcoin exchanges that suit Canadians and their needs. In Canada, you can buy Bitcoins with credit cards, PayPal, cash, and bank transfer.
When it comes to buying Bitcoins with a credit card, there are a few options. Canadians are using Xcoins.io, CoinMama, SpectroCoin, and Coinbase. Xcoins.io is a very popular and highly rated website that allows you to get Bitcoins fast via credit cards. CoinMama is also a popular choice and you can easily buy Bitcoins with Mastercard or Visa. SpectroCoin allows you to buy Bitcoins and get a Bitcoin debit card, while Coinbase allows you to buy both Bitcoins and Ethereum.
Please keep in mind that the prices are higher when purchasing Bitcoins with a credit card. This is because credit card charges are unpredictable and Bitcoin isn’t which means that you can buy Bitcoins with your credit card, get your Bitcoins and then your credit card company will determine the charges. This is what makes buying Bitcoins with a credit card more expensive than other methods.
You have two options when it comes to buying Bitcoins in Canada with cash. You can use LocalBitcoins.com which is the largest and most popular Bitcoin exchange. This is the most anonymous way to purchase Bitcoins for cash in Canada. You can also use Bitquick which is a cash to Bitcoin escrow service. They are one of the best Bitcoin escrow services in Canada as they guarantee Bitcoin in your account within 3 hours after you make a purchase.
If you are interested in buying Bitcoins with PayPal in Canada, there are two service providers that you can use: Xcoins.io and Paxful. If you are interested in buying Bitcoins from Canadian Banks via bank account transfer, here are some places you could use – SpectroCoin, QuadrigaCX, Quebex, and Kraken.
Now that you know how to buy Bitcoins in Canada, let’s see how you can sell them. What are you options to withdraw money?
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You have different options – you can sell Bitcoins for cash and you can sell and withdraw CAD to Bank. Selling Bitcoins for cash is possible via LocalBitcoins.com, while selling Bitcoins and withdraw money to the bank is much trickier. Coinbase is the only service that offers this but selling is restricted to Canadians only.
Other Bitcoin exchanges you could use are Kraken, QuadrigaCX, and CoinSquare.io.
When it comes to trading, there are a few Canadian friendly trading platforms. Two of the best options are QuadrigaCX that has trading features built into the platform and it has been proven to offer quality services to Canadian. They all successfully withdraw money to their account. Another option is Kraken. They have great trading tools and much better quality than QuadrigaCX. Their traders are more experienced and professional.
That’s it. This is everything you need to know about buying, selling, and trading Bitcoins Canada.