When buying bitcoin, some prefer to stick to Canadian crypto exchanges/platforms due to the ease of funding with Canadian dollars, but there’s also a handful of international crypto exchanges that Canadians can leverage. If you are wondering how to buy bitcoin in Canada, Netcoins is a publicly-owned, fully regulated crypto trading platform based in Canada. With 0% funding fees free cash withdrawals with e-transfers and live customer support service seven days a week, we make it simple for Canadians to buy BTC and other cryptocurrencies.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email click on the link to verify your email address.
2. Fund it
Choose your preferred funding method: bank wire transfer, Interac e-Transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
Once you have funds in your Netcoins account, you'll find that it's super easy to buy BTC in Canada.
4. Video Tutorial on How to Buy Bitcoin with Netcoins
https://www.youtube.com/watch?v=p9uRGnEC1vQ&ab_channel=Netcoins
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TrustpilotBitcoin’s History and Background
If you want to learn what Bitcoin is click here
Since its launch in 2009, bitcoin inspired the creation of thousands of alternative cryptocurrencies (called ‘altcoins’ for short). However, bitcoin is unique in that it’s decentralized, public for the world to use, and scarce (its limited supply is capped at 21 million BTC).
Scarcity can play a key role in providing value to an asset. Much like scarcity helped gold maintain its value for 10,000 years, bitcoin’s scarcity should also help bitcoin maintain its value in the long-term. That’s why many people, corporations and institutions are turning to bitcoin. They see bitcoin’s scarcity as a way to maintain their wealth and protect it from a loss of purchasing power created by inflation. To them, bitcoin is a safe haven asset and the ultimate way to hedge against risk in a time of extreme economic uncertainty.
Having said that, bitcoin is still considered a risky investment. Although bitcoin has made overnight millionaires, it has also made people lose all their savings. After all, volatility works in both directions. High volatility assets can work in your favor and yield great potential for return, but they can also work against you by causing you to take on big losses. That is why it’s important to heed the age-old advice: never invest more than you’re ready or willing to lose.
It’s ultimately up to you to decide how much you wish to invest in bitcoin. The beauty of bitcoin is that anyone, anywhere around the world can buy fractions of a bitcoin. If you decide to buy BTC but are not sure how much to buy, you can start by practicing any one of these strategies:
Investing a percentage of your wealth into bitcoin (like 1% or 10%)
Dollar-cost-averaging (buying a set amount of bitcoin every day, week or month)
Buying the dip (buying when bitcoin prices decrease)
Starting with as little as $10 to test it out yourself.
Why Buy Bitcoin?
Bitcoin & The Future
The future of Bitcoin presents both promising opportunities and challenges. As adoption continues to grow, Bitcoin’s role is expanding beyond a speculative asset to a legitimate financial instrument. Innovations like the Lightning Network aim to improve scalability and enable more efficient transactions, addressing one of Bitcoin's long-standing limitations. Additionally, institutional adoption is on the rise, with increasing interest from major companies and financial institutions, further legitimizing Bitcoin as a key asset in the global financial ecosystem.
However, Bitcoin's future also hinges on regulatory developments and technological advancements. Governments are still exploring how to integrate Bitcoin into existing financial systems, creating potential legal hurdles and uncertainties. Additionally, Bitcoin’s price volatility remains a significant challenge, impacting its use as a stable medium of exchange. Despite these risks, Bitcoin's decentralized nature, limited supply, and robust security measures suggest it will continue to play an essential role in the evolving financial landscape, providing an alternative to traditional systems and offering financial sovereignty to users worldwide.
If you want to learn more about Blockchains, Bitcoin or Ethereum, follow our educational blog!
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy BTC in Canada.
