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How to buy Bitcoin in Canada
Buying Bitcoin in Canada is much easier than many people think. All you need to do is select a regulated exchange in Canada like Bitbuy, create an account, deposit Canadian Dollars (CAD) and you are ready to buy.
You can follow our simple guide to start investing in Bitcoin with below.
- Sign up to the Bitbuy exchange
- Deposit Canadian Dollars from any bank account via Bank Transfer (Interac e-Transfer).
- Find Bitcoin 'BTC' on their exchange
- Input the amount of Canadian dollars and select 'Buy Bitcoin'
Is buying Bitcoin legal in Canada?
Yes buying Bitcoin is legal in Canada and the Canada Revenue Agency has recently provided clarity and classified Bitcoin as a commodity - stating that the use of Bitcoin to pay for goods and services is to be considered a barter transaction.
Canada’s tax laws and rules, such as the Income Tax Act, also apply to Bitcoin/crypto transactions.
Buy Bitcoin with Bitbuy
Established in 2017, Bitbuy is one of the oldest and most trusted Bitcoin exchanges in Canada. Their platform is secure and regulated by FINTRAC and Canada, making them a licensed digital asset brokerage platform.
They let you buy, sell and store Bitcoin, Ethereum, Solana and 30 other cryptocurrenices.
- Over 30 Cryptocurrencies
- Low fees starting at 0.2%
- Clean and easy to use iOS/Android App
- Fast CAD Deposits
- Does not offer crypto staking