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Can I buy Bitcoin on Tangerine Bank?
Not technically, but you can connect your Tangerine Bank account to a centralised cryptocurrency exchange and deposit CAD directly from your Tangerine Bank account to the exchange. One your funds are on the exchange you can buy Bitcoin and other cryptocurrencies with ease.
We recommending going through Bitbuy as they are Canada's largest and most trusted cryptocurrency exchange. Bitbuy was the first registered marketplace for crypto assets in Canada and is federally approved as a Restricted dealer. It is registered with FINTRAC as a money services business making it a high security cryptocurrency exchange.
How and Where to buy Bitcoin Tangerine Bank
The best way to invest in Bitcoin and other cryptocurrencies as a Tangerine Bank account holder is through Bitbuy. They are the best exchange as they have the lowest fees among any Canadian-based cryptocurrency exchange, for their Instant Buy feature they only charge a 0.2% flat fee.
Follow the guide below to get started.
- Sign up to Bitbuy Canada
- Deposit Canadian Dollars (CAD) via e-Transfer
- Find the Crypto you want to buy
- Input the CAD amount and select buy
Bitcoin Investing Fees
When purchasing Bitcoin and other cryptocurrencies through a cryptocurrency exchange, there are two fees investors need to remember.
- Deposit Fee - This fee is when you deposit CAD onto a exchange
- Trading Fee - This fee is when trading your CAD for Bitcoin/Crypto
Bitbuy charges a 1.5% fee when depositing via e-Transfer but only 0.5% when transferring Wire Transfer. If time isn't an issue, we recommend using Wire Transfer to avoid the 1.5% fee e-Transfer charges.
The trading fees typically range between 0.5% - 1% for most major Canadian cryptocurrency exchanges. However, Bitbuy offers the lowest trading fees at a competitive 0.2% for most users and 0.1% for professional traders.
For a comprehensive review on Bitbuy, please visit our Bitbuy Canada Review page.
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.