In November, Bitcoin – a record-breaking cryptocurrency – broke the USD$10,800 mark. Then, just a few hours later, it peaked at $11,000. There’s no limit to the potential Bitcoin, and other cryptocurrencies have, and there’s no time like the present to start your own cryptocurrency journey.
If you’re ready to take the leap of faith and invest in something that has continued to prove lucrative, then Bitcoin is the very thing to look at. However, knowing which platform to use can be challenging. It has to have low fees, it needs to be in Canada for your own peace of mind, and it also needs to be 100 percent secure. Of course, there’s no “safe” way of investing as it’s all risky, but the platform itself needs to have security measures in place to protect your investment.
CoinBase has been a popular option for millions of people worldwide. It services 32 countries worldwide, has been involved in over 40 billion dollars’ worth of transactions, and close to 14 million people use it on a regular basis. However, as it’s not based close to home, many Canadians don’t feel comfortable using it. The best exchange is one that provides contact information in Canada for when you have a problem and operates in Canadian Dollars.
Knowing that thousands of people are now looking at Bitcoin as a potential money-maker, we’ve listed four Canadian-based cryptocurrency exchanges to help you on your way to a lucrative financial future.
CoinSquare deserves to be at the top of the list for many reasons. It’s a preferred cryptocurrency exchange for thousands of Canadians, it’s the leading platform in Canada, the best place you can buy Ethereum and Bitcoin.
CoinSquare is suitable for beginners to cryptocurrency, and also those who are seasoned professionals when it comes to buying, selling and trading. Therefore, you’re able to trade in high quantities of Bitcoin and other forms of cryptocurrency, or even just a few hundred dollars.
Not only is it one of the most secure coin management systems, but CoinSquare also offers exceptionally low fees. The more you buy, sell and trade, the lower your trading and transactional fees, and these range from between 0.1 percent to 0.4 percent.
If you’re new to cryptocurrency, you can be on your way to a purchase in no time. CoinSquare is exceptionally easy to use, and customer service is just a phone call or email away. And, if you’re on a tight schedule, you can rely on Quick Trade. CoinSquare is the only platform to offer it, where you can search for Bitcoin Price and Ethereum price in Canadian dollars.
As the name suggests, Canadian Bitcoins is in, you guessed it, Canada. There’s a host of reasons why Canadians choose to use Canadian Bitcoins, besides the fact it’s based close to home. The first reason is that it offers a myriad of payment options. You can choose to use Interac Online, use direct debit from your bank account, make a bill payment via online banking, use a Flexepin voucher, pay in cash via email, or even drop into your local exchange in Ottawa to pay in cash or debit instore.
The fees vary for each payment method, so it helps to do your research on the website to establish which payment method will be both convenient and cost-effective. Whichever way you choose, you are sure to find that the interface is straightforward to navigate – something that not all platforms offer.
Another exciting feature of Canadian Bitcoins is that you can make significant purchases. So many online platforms have a limit, and it’s usually a small limit. Canadian Bitcoins, however, enable you to make purchases of $100,000 and more. This is beneficial for high rollers who know just how lucrative a substantial investment will be.
There’s only one downside to Canadian Bitcoins, and it’s to do with privacy. Many of the offered payment methods are not private, and this is a cause for concern – especially for those who choose to invest large amounts.
If you’re not looking to invest large amounts of money, but you still want excellent service and plenty of payment options, QuickBT is for you. QuickBT is a Canadian broker system which has made itself well known as a platform that enables small amounts of Bitcoins to be bought online. You can purchase up to $200 worth of Bitcoin per day, and can do so via Interac Online, with a Flexepin voucher, or with a debit card.
QuickBT is an easy-to-use platform, with your coins being delivered within a few minutes. No verification is required either, aside from your cellphone number.
BitAccess is a Canadian Bitcoin broker, as well as an ATM operator. Funded by the Government of Canada, it’s another well known and trusted platform that enables Canadians to buy Bitcoins securely. Bitcoins can be purchased with Flexepin in thousands of locations across Canada, and you can even use cash at one of the many BitAccess Bitcoin ATMs.
ID is not required for smaller transactions, and this is good for those who wish to remain anonymous. However, it has exceptionally high fees. Fees begin at 10 percent which is a far cry from CoinSquare that starts as little as 0.1 percent. You will also need your ID for more significant purchases which can remove your anonymity in an instant.