Best places to buy Bitcoin in Canada
With digital wallets becoming highly popular and demanding nowadays, bitcoins purchases are increasing as well. In Canada, you will actually find a healthy exchange of bitcoins everywhere. When you are looking for places to buy this particular cryptocurrency from, you must look into some important factors including fees, volume, payment methods and speed to name a few. Luckily, we have jotted down some of the Canadian exchange companies to purchase bitcoins from.
For users who are less aware of the cryptocurrency market, CoinSmart is the right exchange company for you. It has advanced features to take care of your customized needs. Based on the funding options there are individual limits set. For instance, with Bank Wire, the minimum limit is $10,000 whereas with Interac e-Transfer, the minimum bar is $100 only. The fees vary from 1% to 2.5% depending on the medium you use. The speed is of top-notch guaranteeing that you will receive the bitcoins the same day you make the payment.
The price of bitcoin is similar to the market price and fluctuates according to the exchange rate changes. Trading with bitcoin in Canada can be a difficult job at times given the high commission prices but with CoinSmart, commission fees are as low as .30% for a single trade.
The bad side of this one is that it doesn’t support credit card purchases as of now but they are including that soon in their portfolio. Overall, you will find the interface user-friendly, smart and easy to comprehend. If you are a professional when it comes to trading bitcoins in Canada, this exchange company will not disappoint you. It also has advanced trading options including stop loss and limits.
This is another familiar exchange rate company that trades bitcoins in Canada. The price of bitcoin in this firm is according to the market rate but the fees are higher compared to CoinSmart. You will be charged around 3.99% fees for the transaction. The limit is average which would be $250 per day. You can easily buy with your debit card and have them delivered within a day. But unfortunately, Coinbase does not support bank transfers or credit card transfers.
You can also use Coinmama to purchase bitcoins. The good side of this company is that you can use both debit cards and credit cards to make the transaction. The downside, however, is that the fees are almost double compared to CoinSmart. The fees are approximately 5% and sometimes even more when you are making the transaction with credit cards. The limits can be customized based on the various packages provided in the firm.
As a trader you need to prioritize the factors of consideration starting from fees, delivery speed, trading volume, supported payment methods and company reputation. There are other companies also besides the mentioned three such as Kraken, Changelly, bitbuy.ca etc. Overall, through extensive research of many important factors, we found that CoinSmart is the best option for both beginner and advanced traders due to its low charges and user-friendly features.