How to Buy Bitcoin and Crypto with CIBC Bank (2023)

Summary: CIBC Bank's online banking platform does not provide a direct means for customers to purchase or sell Cryptocurrency. Nonetheless, if you have an account with CIBC Bank, you can link it to a reliable and regulated digital asset trading platform in Canada.

After comparing the top exchanges in the country, we have identified Bitbuy as the best cryptocurrency exchange for CIBC Bank customers. Bitbuy offers free and instant CAD deposits for CIBC clients to trade hundreds of cryptocurrencies like Bitcoin. The exchange is regulated by FINTRAC in Canada and is authorized by the Ontario Securities Commission.

Best Crypto Exchange for CIBC Bank

Fast and cheap Canadian Dollar (CAD) deposits via Interac e-Transfer from CIBC Bank.
Secure FINTRAC regulated platform and is approved by the Ontario Securities Commission.
Trade 100+ crypto assets with low fees starting at 0.1% per trade.

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Can I Buy Bitcoin with CIBC Bank?

Although CIBC Bank doesn't allow customers to buy digital currencies directly through its platform, it permits them to buy crypto through regulated digital asset exchanges. Canadian investors simply need to deposit CAD from their CIBC accounts or cards to secure licensed cryptocurrency trading platforms in Canada in order to trade crypto like Bitcoin.

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How to Buy Bitcoin and Crypto with CIBC

The most secure and trusted cryptocurrency exchange for CIBC customers is Bitbuy. Bitbuy is licensed by FINTRAC and accepts CAD deposits from CIBC via Bank Transfer, Interac e-Transfer, and Credit/Debit Cards.

CIBC Bank account holders can get started on Bitbuy with this easy guide:

Create a free account on Bitbuy and complete the verification requirements.
Deposit Canadian Dollars (CAD) from your CIBC Bank account or card.
Locate the specific crypto you wish to purchase from a selection of over 100 options.
Input the amount of CAD you want to use and execute the trade.

Trade Crypto with CIBC Bank — How to buy Crypto with CIBC

Is CIBC Bank Crypto-Friendly?

CIBC is known as a crypto-friendly bank with nothing stated in its terms preventing customers from purchasing or selling digital assets through regulated platforms. The bank openly supports crypto and doesn't impose bans on customers who want to participate. Customers can comfortably engage in crypto transactions without fearing their funds being frozen.

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What is CIBC Bank

Canadian Imperial Bank of Commerce (CIBC) is one of the largest banks in Canada, with a history that dates back over 150 years. The bank offers financial services to individuals, small businesses, and large corporations, including personal and business banking, investment and wealth management, and capital markets services.

CIBC is committed to positively impacting the communities it serves through its corporate social responsibility initiatives. The bank is committed to environmental sustainability and has set ambitious targets to reduce greenhouse gas emissions and promote sustainable business practices.

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Final Thoughts

To sum up, CIBC Bank does not offer cryptocurrency investing services to its customers but permits them to invest in crypto through regulated digital asset exchanges. After carefully evaluating the leading options, we found that Bitbuy was the best option. It is widely regarded as the most secure and trusted cryptocurrency trading platform in Canada.