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How to Buy Bitcoin in Canada

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The cryptocurrency market is evolving at a rapid pace in different parts of the world. In Canada, investment in the cryptocurrency world has seen a big boom over the last few years. Similar to other cryptocurrencies, Bitcoin enjoys more demand among the Canadian people.

They are exploring new ways to buy Bitcoin for investing satisfactorily in the cryptocurrency market. Luckily, there are plenty of options and payment methods available to buy Bitcoin. Since the popularity of cryptocurrencies is booming on a large scale, it has given Canadian people more reasons to buy Bitcoin.

Transaction in Bitcoin cryptocurrency is highly secure through decentralized finance. It offers a virtual way to invest the money at a very low fee. Due to its high affordability and security, more Canadian people show their eagerness to buy Bitcoin for investing in the cryptocurrency world. Here are a few options available for people to buy Bitcoin:

Online Exchanges

One of the easiest options available with Canadians to buy Bitcoin is online exchanges. Since it is simple and easy to buy Bitcoin through online exchanges, Canadians can easily get this cryptocurrency without any difficulty. There are plenty of options for online exchanges available for completing the Buy-Bitcoin-Canada process with ease. 

Some of the popular online exchange options available today are VirgoCX, MyBTC.ca, Bitbuy, NDAX, and Bitvo. Through online exchanges, an investor can easily fund his bank account in several ways. Interac e-transfer, bank wire, flexepin, and credit card are some of the options for transferring money to a bank account through online exchanges.

Bitcoin ATMs 

Another option available for people to buy Bitcoin is through Bitcoin ATMs. There are plenty of Bitcoin ATMs available in Canada that give an opportunity for Canadians to buy Bitcoin. However, it costs 6-8% more price than the market price to purchase Bitcoin through this medium.

One can easily buy Bitcoin from Bitcoin ATMs through cash or in-person. Since there are many Bitcoin ATMs available in Canada, it has given Canadian people an excellent option to buy Bitcoin with ease.

Peer-To-Peer Network

Peer-to-Peer network is another way available for Canadians to buy Bitcoin with ease. Through this, two users can easily make a transaction without involving a middle man. However, it is important for every person to choose a suitable P2P network for buying a bitcoin. It is possible to transact for bitcoin through P2P network using e-transfer and cash.

Over-the-Counter (OTC)

Over the Counter (OTC) is an excellent option available for every person who wants to buy large amounts of Bitcoin at a single time. It offers a way to allow a private trade between two parties and it offers protection against the market phenomenon known as slippage. This way, buying Bitcoin through Over-the-Counter (OTC) allows a buyer to save money by protecting against slippage.

In-Person Retail Location

Buying a bitcoin is also a good option through an in-person retail location. There are several in-person retail locations available that allow Canadians to buy Bitcoin and many other cryptocurrencies with ease.

In a nutshell, one can conclude that it is possible for Canadians to buy Bitcoin through different options available to them.

With experience as a full-time environmentalist and part time journalist, Lisa heads the post of editor at California Herald. She covers all the significant proceedings in the world of Environment while editing all the news pieces posted over the website to ensure everything aligns with the journalistic format.

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