There are many options to find a place to buy bitcoin in Canada. But the best price for Bitcoin in Canadian dollars may be a challenge. Many options for buying bitcoin in Canada include very high fees, so it really does pay to shop around.
Where To Buy Bitcoin in Canada
Where To Buy Ethereum in Canada
Here is our review of Canadian Bitcoin Exchanges – including where to find the best price to buy and trade bitcoin and ethereum in Canada.
Vancouver-based Bitcoin exchange QuadrigaCX, announced it will start to trade under the public company name “Quadriga Fintech Solutions”, and is set to become the first publicly traded Bitcoin exchange in the world, with approval and assignment of the Canadian Securities Exchange (CSE/CNSX) ticker symbol “XBT.”
All of their account funding options are free except one, which is Interac Online (1.5% fee, min $5). Electronic Funds Transfers, direct Bank Transfers and cash deposits in person (Vancouver) are completely free. They accept bank wires and Western Union payments. You can also send Canada Post money orders to fund your account WITHOUT NEEDING TO BE VERIFIED! For high volume traders, BTM operators, QuadrigaCX offers “VIP” funding options such as e-transfer funds with no fees on their end.
http://www.quadrigacx.com Has a name that is impossible to spell. Presently there is a $2.85 spread between bid and ask prices on their exchange, so I contacted them to ask if that spread determined by competitive price discovery? or is that spread fixed by Quadrigacx?
Their office manager, Aaron, replied
The spread between bid and ask prices is not fixed… it’s a reflection of the…[current] Canadian market.
One more thing about security of information transferred to and stored by us. We support PGP email for submitting verification docs and also have a secure [encrypted] upload form on the website. All personal data is stored encrypted on offline servers, we also don’t store ANY bank account information.
Canadian Bitcoins Review: Buy bitcoins and sell bitcoins, How to get bitcoins in Canada, and Where To Buy Ethereum in Canada
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http://localbitcoins.com – Sometimes less costly, and a trusted place to buy and sell bitcoins – with many more flexible payment options including direct deposit, interac transfer, paypal payments and more. Localbitcoins provides a competitive arena to buy or sell bitcoins in 7874 cities and 240 countries – including a locality near you in Canada. When buying and selling between individuals, you may not be required to provide all your personal information to a centralized exchange that is needed for easy identity theft… you can avoid the risks of all the Bitcoin Exchange Hacks going on. Localbitcoins is a good bet for safe bitcoin purchases.
http://taurusexchange.com – provides very competitive trading fees for high volume traders, and slightly lower trading fees that Quadrigacx. This exchange offers another benefit: the current spread between the Bit and Ask is $12 – with lower prices offered to buyers (lower than Quadrigacx) and higher prices offered to sellers (higher than Quadrigacx). Seems like a more attractive deal – and at first glance, may be one of the best exchanges for buying bitcoin in Canada.
http://cavirtex.com – a well known name in the Bitcoin trading sphere since 2011, they were recently acquired by Coinsetter, and reopened following a short closure after a security breach. CAVIRTEX will move to employ Coinsetter’s technology stack, and incorporate their advanced security standards and practices. Currently, Cavirtex trading fees are a hefty 0.75%.
morrex – charges the highest trading fee (1%) of all exchanges reviewed to date. Not even going to register to learn more.
http://CBIX.ca can be useful when choosing where to buy bitcoin in Canada as it provides the average price of bitcoin across QuadrigaCX, Taurus and some lesser known Canadian bitcoin exchanges with very little volume.
Protecting Yourself From Identify Theft
When buying Bitcoin from an ATM – often you only need to enter a code that is texted to your phone – add cash and you get bitcoin. You can prove your identity with NO risk of identity theft. However, when buying bitcoin from a centralized exchange – you must provide scans of your photo ID, your birthdate, and proof of your residential address and send it across the internet to… someone you don’t know… who has unknown security. If your bitcoin exchange gets hacked, you could lose your bitcoin — and a great deal more!! Risking losing your money would be bad – risking identify theft could be catastrophic!
So I was very relieved and delighted to find out that you can send Canada Post money orders to fund your QuadrigaCX account WITHOUT NEEDING TO BE VERIFIED!
Now you can buy Ethereum in Canadian Dollars too!