Creating Your Online Accounts
The first step to buying bitcoin as a Canadian resident is to open the online accounts at the platforms and exchanges you will be using. The following is a list of the accounts we recommend setting up:
NOTE: Coinbase is no longer recommended by Canadian Crypto.
NOTE: QuadrigaCX has been shut down and is no longer operating as of February 8, 2019. We have removed any recommendations or instructions for this platform.
Sign-up Link (Referral):
Coinsquare is another Canadian digital currency exchange offering trading pairs in Bitcoin, Ethereum, Litecoin, and DASH, among others. It has a recently redesigned user-interface and offers competitive fees ranging from 0.1% to 0.4%.
Although recently redesigned, there are some areas that need improvement—for example, there is no way to view the current CAD price of coins in the trading view—but it is definitely a viable option for Canadians looking for an alternative to Coinbase.
Coinsquare also offer some good funding options for getting your Canadian dollars into the exchange, including Interac® Online, Interac® e-Transfer and wire transfer.
Use Orange Key: 49808580S1 and you and I will both receive $50 for free!
Tangerine offers great no-fee daily banking with their Tangerine Chequing Account. So go check them out, and if you decide to sign-up, use our Orange Key (49808580S1) to get yourself CAD$50 for free!
Once you have setup your accounts, check out Step 2 of our Beginner’s Guide and learn how to purchase bitcoin as a Canadian resident.