Buy bitcoin coinsquare
As a Canadian there are only a few sites where we can easily invest in the crypto-space. Fewer still where we can avoid exhorbitant fees of 2. As far as I am aware there are three sites Canadians can fund directly with CAD fiat currency and those are:. In this post I will attempt to provide some helpful advice about getting started in crypto, as a Canadian, through these three sites, and I will do my best to outline some of the pros and cons for each.
And we will close with my final thoughts on which exchange is best and why. Coinbase is a bitcoin start-up that began in Junewith the intention of making it easy for non-technical people to acquire and utilise Bitcoin.
Since then it has become the largest US exchange, and it reportedly registerednew users following the recent CME Bitcoin futures announcement, the article linked here has more info on that. Coinbase has a lot of users for good reason, it is easy, quick and the user interface is wonderfully simplistic, particularly as compared to say to Bitfinex or even Bittrex.
Having said that Coinbase has very high fees and annoyingly low weekly purchase limits. Coinsquare says of themselves: Servicing High Net Worth individuals, Family Offices and Institutions, we are here to help you understand the world of digital currency and the different coins available.
In my experience this site has been fast, cheap, and reliable. I recently used their Bank Draft fund account option, and I was pleased with the speedy availability of those funds as well as the minor 0. The only drawback I can see with this exchange is that once the funds are in your account they hold them for 7 days.
You can use them to buy coins on their exchange during that hold period, but you cannot withdraw yet, till the 7 days are up. After the 7 days are over you can withdraw easily to a wallet or another exchange. In summary I would say that the two best options for Canadians getting started in crypto-currency are either Coinbase or Coinsquare. Coinbase is safe, easy and quick, but the fees are very significant and the weekly limits are too small for me personally to use them more regularly.
Coinsquare on the other hand is cheap, fast and effective, and while it is annoying to have to go to my bank and pay for a bank draft and wait for the mail to deliver that draft to Coinsquare, this pros for this option far out weighs cons. I use both exchanges. I would encourage anyone who is asking to do the same.
I hope this has been helpful, as always if you appreciate the content please up-vote, comment and I hope you have a blessed day. There are some other exchanges I have a little familiarity with but none of which I have directly funded with CAD. This is quite relevant information for anyone exploring their options in Canada.
They are great so far. They do have significant trading fees on their exchange, but the best thing to do is fund through Coinsquare, then buy LTC or DASH, which are both low fee, and fast send, and then you can move the funds in your crypto of choice to your exchange of choice, or private wallet for HODLing.
They did a hard credit check on me and knocked my score down almost 20 points. No reason to be doing credit checks. Use Coinsquare or Coinbase. Bitcoin Exchanges for Canadians: As far as I am aware there are three sites Canadians can fund directly with CAD fiat currency and those are: Bitcoin Litecoin Ethereum Dash Bitcoin Cash Doge and a few others The only drawback I can see with this exchange is that once the funds are in your account they hold them for 7 days.
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