Looking to buy Bitcoin in Canada? If so, you are not alone. Bank of Canada research shows that Bitcoin use and awareness is steadily increasing. The only question is, what is the best Bitcoin exchange in Canada for new investors in 2020?
MyBTC.ca – The Best Bitcoin Exchange in Canada for New Investors
2019 was a testing year for Bitcoin in Canada.
Early in 2019, Canada homegrown exchange QuadrigaCX was shaken by scandal. Ultimately, this saw QuadrigaCX close after duping Canadians out of millions of dollars.
Thankfully, Toronto exchange MyBTC.ca has been successful in rebuilding trust in the Canadian exchange scene. MyBTC.ca also provides Canadians with a faster, safer, and easier way to buy Bitcoin than at international exchanges like Coinbase.
What is MyBTC.ca?
MyBTC.ca is a Canadian Bitcoin exchange that began trading in 2014. It has, therefore, been possible to buy Bitcoin in Canada at MyBTC.ca for several years already.
Sadly, aggressive marketing by exchanges like QuadrigaCX kept MyBTC.ca off many peoples’ radar. Thankfully, this is now changing — and for good reason.
Buy Bitcoin in Canada Instantly and 100% Securely
One flaw undermines all popular Bitcoin exchanges. International exchanges like Coinbase are custodial. Users can buy Bitcoin. However, exchanges typically deposit bought BTC into less than secure exchange wallets.
- Bitcoin in exchange wallets can be frozen without warning by exchanges.
- All cryptocurrency exchanges are susceptible to hacks.
- People who buy Bitcoin in Canada at overseas exchanges, do not benefit from regulatory protection if coins are lost or stolen.
Thankfully, MyBTC.ca makes it possible to buy Bitcoin in Canada more securely. This is thanks to the fact that MyBTC.ca delivers coins directly to off-exchange investor wallets. As soon as you buy Bitcoin — you own it.
The Best Bitcoin Exchange in Canada for Easy ID Verification
As well as delivering Bitcoin instantly to user wallets, MyBTC.ca offers easy user identity verification. This is thanks to the Canada homegrown exchange TC partnering with Canada Post to confirm user ID details.
By partnering with Canada Post, MyBTC.ca is also able to accept payment for Bitcoin in prepaid Flexepin vouchers. This makes MyBTC.ca the best Bitcoin exchange in Canada for people who don’t have access to regular credit and debit cards.
Buy BTC with CAD via Flexepin Voucher
Flexepin vouchers are prepaid vouchers that can be bought in-store in hundreds of Canadian Post Offices, Gas Stations and retail outlets.
In an effort to service underbanked Canadians, MyBTC.ca accepts Flexepin vouchers for daily purchases of up to $2,500 worth of Bitcoin. This allows underbanked Canadians to buy Bitcoin in Canada at market rates — not at a premium like on peer to peer exchanges or at Bitcoin ATMs.
Buy Bitcoin in Canada via Credit, Debit Card, and Bank Transfer
As well as Flexepin vouchers, MyBTC.ca makes it possible to buy Bitcoin in Canada via credit, debit card, and direct bank transfer.
- Buy up to $2,500 worth of Bitcoin using credit and debit cards.
- Purchase $5,000 worth of Bitcoin via Interac e-Transfer.
- Buy up to $100,000 worth of Bitcoin via direct bank wire.
In every case, buying Bitcoin at MyBTC.ca also allows users to avoid high exchange rates (and fees) typical of international exchanges. Exchange users can also buy crypto in Canada 24/7, with access to live chat support in case of problems.
Are you looking to buy Bitcoin in Canada? If so, save on fees and CAD to USD exchange rates now by clicking here.