If you’re thinking about how to buy Bitcoin in Canada, it may be hard for you to find any buyer with a credit card. There are no conventional banking or financial institutions that are able to transact with people that hold only a digital wallet. The banks do not like people with only a digital wallet and they also consider such a thing as money laundering. However, you can have your account with a Canadian bank and buy Bitcoins.
There are two ways you can buy Bitcoins. You can either buy them with a bank account or you can buy them from the market. You cannot do both of these options unless you want to risk losing your money. The first option requires you to open a bank account with the conventional banking institutions. If you don’t have a bank account, you will not be able to buy Bitcoins unless you use one of the banks’ branches or through direct deposit. However, this may be easier said than done, especially since the two big banks are currently offering interest rates of up to 7%.
The second option is the best way to buy Bitcoins. There is Bitcoin ATMs in Canada and they’re easy to find. This can save you a lot of time since you can visit any ATM kiosk and use the facilities that come with the machine. You can choose from whichever rate you like, depending on what you wish to purchase. Your Canadian ATM can accept cash, credit card or debit card. In order to buy Bitcoins with a debit card, you need to keep a copy of your credit card so that you can withdraw the amount in case your ATM doesn’t give you the details.
