A List of Bitcoin Canada Exchanges and Sellers
Looking to buy bitcoin in Canada? Unlike the US, there aren’t as many places to buy cryptocurrency in Canada. There just isn’t the market for it – yet.
However there are still several excellent places with decent prices that where you can buy bitcoins in Canadian dollars.
So here’s a list of Bitcoin Canada exchanges and sellers – with a brief review of each. Click on the links provided to learn more about each seller.
Where To Buy Bitcoin in Canada
It’s one of the largest bitcoin and ethereum exchanges in Canada and has been around for several years now. Another bonus is that it tends to have some of the lowest prices on bitcoins that you can get in Canada.
There are several different ways to fund your account including Interac Online, bank wire, bank draft or direct bank transfer in some cases.
The only real drawback is that you have to get verified before you can buy – and that can take up to a week.
But the verification process is pretty easy to do from home and once you’ve been verified, you’re good to go. There are no other limits to buying other than what your bank will let you take out for an Interac transfer or bank wire.
You can also set limit orders to take advantage of any sudden price drops.
They don’t have as many funding options to buy from Canada as they offer for US customers. As of this writing, you can only buy with a credit card if you’re buying in Canada.
But since a lot of people are looking to buy bitcoin with a credit card in Canada, this makes them a pretty good option.
Another advantage to Coinbase is that they have some of the lowest prices for bitcoins. Also, they give you a free bitcoin wallet included with your account, which many people like to use when buying. Plus, they’re insured on the coins that you store with them.
The main drawback is that you’ll have to wait to buy large amounts.
They put limits on what you can actually spend on your credit card – starting at $250. You have to work up from there to get your limits increased. Still, if you’re only looking for smaller amounts to buy with credit card at first, they’re worth checking out.
Coinmama offers some of the the highest buying limits with your credit card – which makes them quite popular.
You can buy up to $150 of Bitcoin (US) without any verification. However if you want to buy more than that you will need to be verified.
The good news is that the verification process here is fairly easy. You just need to upload a valid piece of ID like a drivers licence and you’ll be approved for up to $10,000. And unlike other sellers, they verify you pretty quickly here.
One thing to keep in mind is that if you’re buying from Canada, your Visa will be charged in US dollars. A lot of Canadians do have a US visa card – and in that case it will be charge in US and you can avoid the conversion fees.
You can scroll through the local offers and find sellers willing to take various forms of payment – from cash deposits to interact e-transfers and sometimes even Paypal.
You can also see each sellers’ feedback score and the number of confirmed trades they have done successfully.
You can also check out how many people trust them and the average time to release coins after payment.
Basically it’s like eBay in that you can see a lot about the seller and choose sellers which have a good reputation – so you’re less likely to run into issues.
Prices can be good to great, depending on the day. Sometimes you can get a deal, other times not so much. But it is fun to look and you don’t have to go through a verification process to buy with many sellers.
The great thing about Quebex is that they offer a lot of funding options – from Interac online to Interac e-transfers and even Paypal (in $50 amounts only).
Their prices tend to be slightly higher than the sellers above.
However they do have excellent customer service with an online chat feature you can use to ask questions about your order.
The main drawback is that they have a very extensive verification process (2 pieces of ID plus a pic of you holding the ID and a pic of you holding a hand-written note) which tends to turn people off. But if you’re looking for a trusted place to buy BTC in Canada, they’re worth considering.
#6 My BTC
If you want to buy bitcoin today you may want to try MyBTC. You can buy up to $750 with an interact E-Transfer or up to $1000 with a Flexepin voucher.
You can also use a prepaid credit card to buy up to $1000 a day (but be aware that you’ll pay a 20% fee for this – yikes).
On the plus side, there is no verification process necessary to buy here (they will however call you to confirm your first purchase).
On the downside, the prices for bitcoins are hundreds of dollars over market price – and you are limited in how much you can buy per day.
This is one of the largest European-based bitcoin exchanges in the world with decent prices.
They do take Canadian deposits and you can trade in bitcoin, ethereum, dash, litecoin, monero and many more.
On the downside however their verification process is pathetically slow. I know someone who applied 2 months ago and is still waiting to be verified. And you can’t do any funding or trading without being verified.
Also their platform is not the best, especially for newbies. It can be hard to understand.
So those are some of the top places to buy Bitcoin in Canada. There is of course one more:
The Bitcoin ATM
I saved this till last because frankly, it’s not a great option. But a lot of people consider it without knowing the facts.
On the plus side, you get total privacy when buying your coins. You don’t have to go through a verification process. You can get BTC today and you can buy with cash.
Sounds great right?
Yes but – and this is a big but – the fees are outrageous. Some machines claim to charge 5% and some up to 16% but in my experience most charge from 15 – 20% in reality.
For example, when the Bitcoin price was around $2600 (Canadian), I had a friend who visited a bitcoin ATM in Canada and they were charging $3100 plus change. That’s $500 above market price – a little under 20%. Can you say ripoff?
And many times, some machine owners will advertise a price online that they claim to be selling at. But then you get there and the price is different than advertised online – much higher.
So what do you do – go home and waste that time and gas money? Or buy at a ridiculously high price and feel like an idiot because you got screwed over on the price?
It’s not a great position to be in. So while an ATM might sound like a good option to buy bitcoin in Canada – if you want to save hundreds of dollars on your coins- try the bitcoin exchanges listed above first.