Can I buy Cryptocurrencies with Tangerine Bank?
No, you cannot buy Bitcoin, Ethereum and other digital assets directly through your Tangerine Banking login. This is because their online banking platform does not support the necessary infrastructure to facilitate digital asset transfers and custody.
That said, you can sign up to a licensed digital asset broker in Canada to deposit CAD from your Tangerine Bank account and invest in cryptocurrencies. It is important that you sign up with a platform that is registered with FINTRAC as a Money Services Business.
How to buy Bitcoin and Crypto with Tangerine Bank
The best way to buy Cryptocurrencies like Bitcoin and Ethereum with your Tangerine Bank account is with Bitbuy. They offer over 100 digital assets to buy and sell for low fees starting at 0.1% with Canadian Dollars (CAD). Their platform also allows you to deposit via Interac e-Transfer (best method), Debit Card, Credit Card or Bank Wire.
You can follow the simple guide below to get started:
- Sign up to Bitbuy and verify your personal or company account.
- Deposit Canadian Dollars (CAD) via e-Transfer through your Tangerine Bank account.
- Find the Crypto you want to buy (over 100 cryptocurrencies to select).
- Input the CAD amount you want to invest and execute your trade.
Tangerine Bank Cryptocurrency Policy
Tangerine Bank is yet to state their official stance on cryptocurrencies, they do not have anything in their policies that prohibits their users from investing in cryptocurrencies. Users should feel safe when investing in cryptocurrencies as there has been zero reports of accounts being frozen due to crypto related transactions.
What is Tangerine Bank
Tangerine Bank is a Canadian financial institution that offers banking services to both individuals and businesses. It was founded in 1993 and has since grown to become one of the largest banks in Canada. Tangerine Bank is known for its focus on customer service and its innovative approach to banking. In recent years, the bank has been awarded various accolades, including being named one of the Best Banks in Canada by MoneySense magazine.
The bank offers a wide range of products and services, including savings and chequing accounts, credit cards, mortgages, loans, and investment products. The bank also has a strong focus on digital banking, and offers online and mobile banking platforms that are easy to use and convenient for customers.
Tangerine Bank was founded in 1993 under the name ING Direct. The bank was created with the goal of providing simple and convenient banking services to Canadians. ING Direct was one of the first banks in Canada to offer online and mobile banking, and was also one of the first to introduce high-interest savings accounts.
In 2012, ING Direct was acquired by Scotiabank, and renamed Tangerine Bank. The bank continues to operate as a separate entity from Scotiabank, with its own products, services, and branding.