The Top Benefits and Flaws When You Buy Bitcoin from Brokers in Canada

Every day the bitcoin market grows bigger and bigger as more and more people get involved in it. Since buying bitcoins is necessary for you to actually get involved in the bitcoin world that is the first thing that you need to focus on doing, second only to choosing the right bitcoin wallet. Purchasing bitcoins used to be a lot more difficult, but as this digital currency keeps evolving, so do the options surround it. Nowadays there a ton of brokers that deal with bitcoins and more and more are appearing every day, especially in Canada, which seems to be “the” place for bitcoin users. If you are interested in what some of the best places to buy bitcoin are, then keep on reading this article.

This is a bitcoin exchange that is actually based in Canada which is great and can be very handy if you are a Canadian citizen and the way that you can actually buy the bitcoins is by going online and using Interact Online. Something that is awesome about this exchange is that it is actually a very fast way in which you can purchase bitcoins and. Another thing that customers really appreciate about bitBUY is the fact that you are able to buy bitcoins worth up to $250 and the only sort of personal information that you have to provide is an email address and a cellphone number. Something that can be considered a drawback is the fact that the fees are pretty high, are 4.95% per trade and another thing that customers don’t always appreciate is the fact that the limits that the exchange offers are very low.

bitBUY.ca - bitcoins
Bitcoin ATMs

Bitcoin ATMs

Another great way that you can buy bitcoin in Canada is by actually tracking down a bitcoin ATM and doing it directly. If you are not sure whether there is an ATM like anywhere near you, then you don’t have to worry because a lot of them are all over Canada and you can simply track down one of the maps that show you exactly where each of the machines is located. Something that is great about using ATMs ads way to purchase bitcoins is the fact that the whole process is super quick and really easy, so that even a beginner will have no problems, and the whole process is completely free, so if privacy is a concern of yours then this is definitely the way to go for you. Something that is a pretty big drawback is that the privacy and the convenience of the ATMs come with a pretty hefty price- 5-10% per transaction to be exact, and that is something that a lot of bitcoin users simply don’t want to pay.

bitcoin-OTC

If there is one simple way in which we can describe this is that it is almost a Craigslist for bitcoins and it is an over-the-counter marketplace that is meant for the peer to peer exchanging of bitcoins. What users have to do is exactly what they would do on Craigslist, which is create ads and locate other ads in order to find sellers of bitcoins. Although this over-the-counter exchange can be very complicated, unfortunately it is often the only option that people have on certain countries that don’t have a exchange. So if you find yourself in a country that doesn’t have exchange, this is a great way for you to get bitcoins. The downside of this is definitely the fact that there is a big need to keep an eye out for scams, just like you would on Craigslist. Another thing is that you need to build trust and a lot of feedback for your account before you will be able to trade any larger amounts, and that will definitely a process that can take a very long time.

bitcoin-OTC

As you can see, there are many options out there when it comes to being able to buy bitcoin in Canada and all of them are very different and can fulfil different needs, depending on what you’re looking for. On this list you have some good variety, so go through them and choose the right one for you.

Do you have questions or comments?