Summary: The best way to buy Bitcoin and cryptocurrencies with an Interac e-Transfer is with a FINTRAC licensed exchange in Canada. With this method, investors can quickly and easily deposit Canadian Dollars (CAD) to buy, sell, stake and trade a wide variety of cryptocurrencies in a secure and regulated environment.
Our top pick for investors is Bitbuy. They are a FINTRAC & Ontario Securities Commission licensed exchange that offers fast and cheap Interac deposits to trade & stake over 100 cryptos with low fees. The platform is trusted by over 400,000 Canadians and has had over $5B in crypto traded since being founded in 2016.
- Fast and cheap Canadian Dollar (CAD) deposits via Interac e-Transfer from any Canadian 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.
Can I Buy Cyrpto with Interac e-Transfer?
Interac e-Transfer does not directly support the acquisition, trading, or storage of digital currencies through its service or associated financial institutions in Canada. To purchase crypto, customers need to register with a Canadian digital currency exchange regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Upon depositing CAD using Interac e-Transfer, users can then participate in buying and selling various cryptocurrencies.
How to Buy Bitcoin and Crypto with Interac e-Transfer
The safest and fastest way to invest in cryptocurrencies with an Interac e-Transfer deposit from any Canadian bank is with the Bitbuy exchange. Their platform offers all the features you would expect from a leading Canadian crypto platform including crypto staking, compliance from major regulators, low fees and secure custody with a comprehensive insurance policy.
You can get started in minutes with this simple guide:
- Visit Bitbuy to sign up and complete your verification.
- Select the 'Deposit CAD' button to connect your Canadian Bank account and deposit funds via Interac E-Transfer.
- Wait 1-4 hours for your funds to arrive on the platform.
- Find the crypto asset you want to buy and execute your trade.
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Is Interac e-Transfer Crypto-Friendly?
Interac e-Transfer is a crypto-friendly electronic funds transfer service in Canada, allowing investors to deposit funds into FINTRAC regulated crypto exchanges. This provides a convenient way to invest in cryptocurrencies, as investors can easily transfer funds to their exchange accounts and purchase digital assets.
Does Binance offer Interac e-Transfer?
Binance, a popular cryptocurrency exchange, does not offer Interac e-Transfer as a funding option for its Canadian users. This is due to the fact that Binance is not an approved exchange by Canadian financial regulators, such as FINTRAC, and thus is not authorized to offer Interac e-Transfer as a deposit option. Canadian users who wish to use Interac e-Transfer to fund their crypto accounts will need to use a different, FINTRAC-approved exchange that supports this payment method.
Final Thoughts
In conclusion, it is recommended that investors opt for a FINTRAC-regulated exchange like Bitbuy when purchasing cryptocurrencies using Interac e-Transfer in Canada. This ensures a secure, fast, and convenient way to invest in digital assets, with over 100 options available for trading and staking.
As a trusted platform with more than 400,000 Canadian users, Bitbuy offers a seamless experience for depositing CAD, low fees, and compliance with major regulators, making it the ideal choice for your crypto investment journey.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
