Despite its well-known volatility, cryptocurrency is on fire and many investors are looking to profit on its white-hot rise. Cryptos such as Bitcoin and Ethereum ebb for a while and then climb higher, and many other popular digital currencies are doing so, too. Experienced traders have been speculating on crypto for years, but what if you&#x;re new to the market and looking to get a piece of the action?

Here&#x;s how to start investing in cryptocurrency and what you need to watch out for.

5 steps for investing in cryptocurrency

First things first, if you&#x;re looking to invest in crypto, you need to have all your finances in order. That means having an emergency fund in place, a manageable level of debt and ideally a diversified portfolio of investments. Your crypto investments can become one more part of your portfolio, one that helps raise your total returns, bitcoin investing canada for beginners, hopefully.

Pay attention to these five other things as you&#x;re starting to invest in cryptocurrencies.

1. Understand what you&#x;re investing in

As you would for any investment, understand exactly what you&#x;re investing in. Bitcoin investing canada for beginners you&#x;re buying stocks, it&#x;s important to read the prospectus and analyze the companies thoroughly. Plan to do the same with any cryptocurrencies, since there are literally thousands of them, they all function differently and new ones are being created every day. You need to understand the investment case for each trade.

In the case of many cryptocurrencies, bitcoin investing canada for beginners, they&#x;re backed by nothing at all, neither money earned winning super bowl assets nor cash flow. That&#x;s the case for Bitcoin, for example, where investors rely exclusively on someone paying more for the asset than they paid for it. In other words, bitcoin investing canada for beginners, unlike stock, bitcoin investing canada for beginners, where a company can grow its profits and drive returns for you that way, many crypto assets must rely on the market becoming more optimistic and bullish for you to profit.

Some of the most popular coins include Ethereum, Dogecoin, bitcoin investing canada for beginners, Cardano and XRP. Solana has been another massively successful coin as well. So before investing, understand the potential upside and downside. If your financial investment is not backed by an asset or cash flow, it could end up being worth nothing.

2. Remember, the past is past

A mistake that many new investors make is looking at the past and extrapolating that to the future. Yes, Bitcoin used to be worth pennies, but now is worth much more. The key question, however, is Will that growth continue into the future, even if it&#x;s not at quite that meteoric rate?

Investors look to the future, not to what an asset has done in the past. What will drive future returns? Traders buying a cryptocurrency today need tomorrow&#x;s gains, not yesterday&#x;s.

3. Watch that volatility

The prices of cryptocurrencies are about as volatile as an asset can get. They could drop quickly in seconds on nothing more than a rumor that ends up proving baseless. That can be great for sophisticated investors who can execute trades rapidly or who have a solid grasp on the market&#x;s fundamentals, how the market is trending and where it could go. For new investors without these skills &#x; or the high-powered algorithms that direct these trades &#x; it&#x;s a minefield.

Volatility is a game for high-powered Wall Street traders, each of whom is trying to outgun other deep-pocketed investors. A new investor can easily get crushed by the volatility.

That&#x;s black money earned by ias officers volatility shakes out traders, especially beginners, who get scared. Meanwhile, bitcoin investing canada for beginners, other traders may step in and buy on the cheap. In short, volatility can help sophisticated traders buy low and sell high while inexperienced investors buy high and sell low.

4. Manage your risk

If you&#x;re trading any asset on a short-term basis, you need to manage your risk, and that can be especially true with volatile assets such as cryptocurrency. So as a newer trader, you&#x;ll need to understand how best to manage risk and develop a process that helps you mitigate losses. And that process can vary from individual to individual:

• Risk management for a long-term investor might simply be never selling, regardless of the price. The long-term mentality allows the investor to stick with the position.
• Risk management for a short-term trader, however, might be setting strict rules on when to sell, such as when an investment has fallen 10 percent. The trader then rotely follows the rule so that a relatively small decline doesn&#x;t become a crushing loss bitcoin investing canada for beginners traders should consider setting aside a certain amount of trading money and then using only a portion of it, at least at first. If a position moves against them, they&#x;ll still have money in reserve to trade with later, bitcoin investing canada for beginners. The ultimate point is that you can&#x;t trade if you don&#x;t have any money. So keeping some money in reserve means you&#x;ll always have a bankroll to fund your trading.

  It&#x;s important to manage risk, bitcoin investing canada for beginners, but that will come at an emotional cost. Selling a losing position hurts, but doing so can help you avoid worse losses later.

  5. Don&#x;t invest more than you can afford to lose

  Finally, bitcoin investing canada for beginners, it&#x;s important to avoid putting money that you need into speculative assets. If you can&#x;t afford to lose it &#x; all of it &#x; you can&#x;t afford to put it into risky assets such as cryptocurrency, or other market-based assets such as stocks or ETFs, for that matter.

  Whether it&#x;s a down payment for a house or an important upcoming purchase, money that you need in the next few years should be kept in safe accounts so that it&#x;s there when you need it. And if you&#x;re looking for an absolutely sure return, your best option is to pay off debt. You&#x;re guaranteed to earn (or save) whatever interest rate you&#x;re paying on the debt. You can&#x;t lose there.

  Finally, don&#x;t overlook the security of any exchange or broker you&#x;re using. You may own the assets legally, but someone still has to secure them, and their security needs to be tight. If they don&#x;t think their cryptocurrency is properly secured, some traders choose to invest in a crypto wallet to hold their coins offline so they&#x;re inaccessible to hackers or others.

  Other ways to invest in cryptocurrency

  While investing directly in cryptocurrency may be the most popular way to do so, traders have other ways to get into the crypto game, bitcoin investing canada for beginners, some more directly than others. These include:

  • Crypto futures: Futures are another way to wager on the price swings in Bitcoin, and futures allow you to use the power of leverage to generate massive returns (or losses). Futures are a fast-moving market and exacerbate the already volatile moves in crypto.
  • Crypto funds: A few crypto funds (such as the Grayscale Bitcoin Trust) also exist that allow you to wager on the price swings in Bitcoin, bitcoin investing canada for beginners, Ethereum as well as a few other altcoins. So they can be an easy way to buy crypto through a fund-like product.
  • Crypto exchange or broker stocks: Buying stock in a company that&#x;s poised to profit on the rise of cryptocurrency regardless of the winner could be an interesting option, too. And that&#x;s the potential in an exchange such as Coinbase or a broker such as Robinhood, which derives a huge chunk of its revenues from crypto trading.
  • Blockchain ETFs: A blockchain ETF allows you to invest in the companies that may profit from the emergence of blockchain technology. The top blockchain ETFs give you exposure to some of the key publicly traded companies in the space. But it&#x;s important to note that these companies often do much more than crypto-related business, meaning your exposure to cryptocurrency is diluted, reducing your potential upside and downside.

  Each of these methods varies in its riskiness and exposure to cryptocurrency, so you&#x;ll want to understand exactly what you&#x;re buying and whether it fits your needs.

  Cryptocurrency investing FAQs

  How much money do I need to start investing in cryptocurrency?

  In theory it takes only a few dollars to invest in cryptocurrency. Most crypto exchanges, for example, have a minimum trade that might be $5 or $ Other crypto trading apps might have a minimum that&#x;s even lower.

  However, bitcoin investing canada for beginners, it&#x;s important to understand that some trading platforms will take a huge chunk of your investment as a fee if you&#x;re trading small amounts of cryptocurrency. So it&#x;s important to look for a broker or exchange that minimizes your fees. In fact, many so-called free brokers embed fees &#x; called spread mark-ups &#x; in the price you pay for your cryptocurrency.

  How does a blockchain work?

  Cryptocurrency is based on blockchain technology. Blockchain is a kind of database that records and bitcoin investing canada for beginners every entry into it. The best way to think of a blockchain is like a running receipt of transactions. When a blockchain database powers cryptocurrency, it records and verifies transactions in the currency, verifying the currency&#x;s movements and who owns it.

  Many crypto blockchain databases are run with decentralized computer networks. That is, many redundant computers operate the database, checking and rechecking the transactions to ensure that they&#x;re accurate. If there&#x;s a discrepancy, bitcoin investing canada for beginners, the networked computers have make money on the internet in south africa resolve it.

  How do you mine cryptocurrency?

  Some cryptocurrencies reward those who verify the transactions on the blockchain database in a process called mining. For example, these miners involved with Bitcoin solve very complex mathematical problems as part of the verification process. If they&#x;re successful, miners receive a predetermined award of bitcoins.

  To mine bitcoins, miners need powerful processing units that consume huge amounts of energy. Many miners operate huge rooms full of such mining rigs in order to extract these rewards. As of earlyrunning the Bitcoin system burned as much energy as a medium-sized country.

  How can I invest in Bitcoin?

  If you&#x;re looking to invest in Bitcoin, you have a variety of ways to do so, and you can work with a number of companies, including:

  • Crypto exchanges: Exchanges have some of the widest selection of cryptocurrencies, and they tend to be the most competitive on price. Top players include Coinbase, Kraken and Binance, but there are literally dozens of others.
  • Traditional brokers: Many traditional brokers also allow you to trade Bitcoin in addition to stocks and other financial assets, though they have a relatively limited selection of other cryptocurrencies. Top players here include Interactive Brokers, TradeStation and tastyworks.
  • Financial apps: Many financial apps now allow you to trade Bitcoin and a few other cryptos. Top players here include Robinhood and Webull as well as payment apps such as PayPal, Venmo and Cash App.

  If you&#x;re looking to buy Bitcoin, pay particular attention to the fees that you&#x;re paying. Here are other key things to watch out for as you&#x;re buying Bitcoin.

  What are altcoins?

  An altcoin is an alternative to Bitcoin, bitcoin investing canada for beginners. Many years ago, traders would use the term pejoratively, bitcoin investing canada for beginners. Since Bitcoin was the largest and most popular cryptocurrency, everything else was defined in relation to it. So, whatever was not Bitcoin was lumped into a derisive category called altcoins.

  While Bitcoin is still the largest cryptocurrency by market capitalization, it&#x;s no longer as dominant as it was in the very early days of cryptocurrency. Other altcoins such as Ethereum and Solana have grown in popularity, making the term altcoin somewhat outmoded. Now with a reported 15, or more cryptocurrencies in existence, bitcoin investing canada for beginners, it makes less sense than ever to define the industry as Bitcoin and then everything else.

  Bottom line

  Cryptocurrency is a highly speculative area of the market, and many smart investors have decided to put their money elsewhere. For beginners who want to get started trading crypto, however, the best advice is to start small and only use money that you can afford to lose.

  Learn more:

Buy BTC with Binance

Cryptoassets are a highly volatile unregulated investment product. 

4, bitcoin investing canada for beginners. CEX – Leading UK Exchange with 70+ Crypto

CEX is a UK crypto exchange that has stood the test of time. Launched back inCEX has attracted over 4m investors worldwide. Canadian investors will be pleased to hear that you can buy Bitcoin instantly with CEX using a Canadian credit/debit card (% fee applies). Payments by SWIFT, SEPA, ACH, and e-wallet Skrill are available, depending on your country of residence.

CEX offers a decent range of 70+ crypto and a spread of regulation in the UK, USA, Gibraltar and Cyprus. A testament to CEX&#;s commitment to fair dealings is its involvement as a founding member of CryptoUK, an organisation which aims to streamline relations between the crypto world and stringent UK authorities.

As with fellow exchanges Coinbase and Binance, CEX offers crypto staking as well as the ability to get a crypto loan. Bitcoin investing canada for beginners with Binance, margin trading is available — but this is only recommended for advanced traders. As freebies, CEX offers a smartphone app as well as a crypto wallet.

Buy Bitcoin with CEX

Cryptoassets are a highly volatile unregulated investment product. 

What is the Best Way to Invest in Bitcoin?

How to invest in Bitcoin in Canada depends on your priorities. You can buy Bitcoin as an asset in its own right, or you can invest in what are known as &#;Bitcoin stocks&#.

Buying Bitcoin

• Buy Bitcoin instantly with credit card at crypto exchanges like Coinbase, Binance and CEX, bitcoin investing canada for beginners. But watch out for high card commissions.
• Fund your account with a crypto broker like BitBuy. Then use those funds to buy Bitcoin.
• Use a Bitcoin robot service like Bitcoin Buyer or Bitcoin Evolution. These providers will use computer algorithms to spot trading opportunities for you. The emphasis here is on making money from Bitcoin trades, rather than amassing a store of Bitcoin.
• Check out some crypto signals providers. These teams of experts will send you details of upcoming crypto trading opportunities via Telegram. You can then take their advice (if you want) and execute the proposed trades yourself with a broker or exchange.
• Buy Bitcoin with PayPal &#; many options exist.

Investing in Bitcoin Stocks

You can explore what are known as &#;blockchain ETFs&#. These are Exchange-Traded Funds which hold stocks in companies that do business in blockchain-related areas. An example of a blockchain ETF is the Amplify Transformational Data Sharing ETF (BLOK).

ETFs which simply hold Bitcoin (in the form of futures contracts) are just coming onto the market as regulators give them the bitcoin investing canada for beginners light. Currently available, for example, is the Pro Shares Bitcoin Strategy ETF (available with www.oldyorkcellars.com).

Remember that you won&#;t find ETFs available with a dedicated crypto exchange.

Should I Invest in Bitcoin?

Investing in any crypto comes with considerable risk. The market is still young and price volatility is high. You should invest no more than 1%-5% of your total wealth in crypto, bitcoin investing canada for beginners. And it is a good idea to spread your crypto investment around. That being said, Bitcoin&#;s pole position in the crypto sector makes it perhaps one of the best long-term crypto investments. Here are five reasons why:

Take the Example of the Big Finance Players

Bitcoin is no longer new. Despite resistance from entrenched interests in the global finance world, Bitcoin is being taken on by PayPal, Mastercard and Visa. Apple and Amazon have said they will get involved too. And don&#;t forget El Salvador; for an entire country to make Bitcoin legal tender (which is what El Salvador did in ) represents a quantum leap forward in the evolution of the crypto sector as a whole.

Follow the Big Banks

The whole point of crypto is that, compared to conventional fiat currencies, it is decentralised, bitcoin investing canada for beginners. This means that there is no single central authority determining how much crypto there is, bitcoin investing canada for beginners, or who gains from transaction fees. Instead, transaction details are held on a distributed ledger, and transactions are authorised via a community rather than a big bank for example. At first, therefore, Bitcoin was greatly mistrusted by the big banks and sovereign regulators. But that has changed.  85% of institutional investors surveyed in  said that they planned to begin investing in Bitcoin over the next two years, or to multiply their investments if they had begun investing.

Good Tokenomics

Just like gold, Bitcoin is a finite asset. This means there will only ever be so much Bitcoin in circulation. The total supply of 21 million coins bitcoin investing canada for beginners be reached in approximately year&#;s time. This makes for a permanent support to its price; gold is so expensive, of course, for exactly the same reason of limited supply and worldwide demand. Bitcoin&#;s limited supply also means that it is unlikely to suffer the devaluation through inflation that has become the scourge of global fiat currencies right now: inflation in the US, for example, is at a 40 year high.

Market Leader Advantage

Is Bitcoin a good investment? That depends on the future, which nobody can predict accurately. What we can say with confidence, though, is that Bitcoin is the biggest and most popular crypto and is likely to stay that way. This gives Bitcoin a real advantage over other crypto. A virtuous circle of investment and awareness is in place: people know about Bitcoin, so they invest in it, so it gets a higher profile, and so on. Other less well-known coins among Metaverse coins, DeFi coins and meme coins may offer more dramatic short-term returns; but Bitcoin is out in front and likely to stay there.

Buy Before Bitcoin Breaks Out

Since 23rd FebruaryBitcoin has stopped falling. Its price has risen and fallen erratically between $35k and $45k with a general upwards trajectory. Some technical analysts say this behaviour is a &#;continuation&#; bitcoin investing canada for beginners, which means that shortly the price will either take off or fall dramatically. However, until this point, bitcoin investing canada for beginners, technical analysis of crypto in general has fallen short. Investor sentiment is such a key factor in crypto prices that a Bitcoin price prediction is always going to be unreliable. Bitcoin, now priced around $40k, bitcoin investing canada for beginners, has been in this price region six times since the new year. One strategy is to buy now and expect Bitcoin to break out of this pattern soon.

Choosing a Bitcoin Wallet for Investing

Beginners should get one thing straight: you do not need to use a crypto wallet to buy and sell Bitcoin. The best crypto exchanges in Canada like BitBuy allow you to store your crypto inside your brokerage account. So, bitcoin investing canada for beginners, there&#;s very little difference between holding Bitcoin and holding more traditional assets like stocks.

So why do investors use crypto wallets? Crypto wallets allow you to hold crypto like Bitcoin on your own terms, as well as transfer it around the web to pay for items. You also receive a unique address on the blockchain which you can use to receive crypto payments. With some brokers like Binance, you can send crypto around using the in-house wallet. But generally a full-blown crypto wallet is required.

Crypto wallets are divided into those which are custodial and non-custodial:

• Custodial wallets mean the wallet is effectively in the &#;custody&#; of the provider. This means that, if you lose your login details, you will be able to get back into your wallet. Binance offers two custodial wallets (the Binance Trust wallet and the Binance Chain Wallet). Bitcoin investment sites hack and CEX offer custodial wallets too.
• Non-custodial wallets are wallets to which you alone have the private key. An example of a non-custodial wallet is the Metamask wallet, which allows you to buy any ERC token but which does not allow you to withdraw fiat currency funds. If you lose your private key to your Metamask wallet as well as lose your &#;seed&#; phrases, you are stuffed!

If you use BitBuy to buy Bitcoin, you can send your Bitcoin to any custodial or non-custodial wallet. Or, keep things simple by holding your Bitcoin in your BitBuy account.

Bitcoin Investment Strategies

How to invest in Bitcoin and make money depends on your own individual appetite for risk. This means how much money you are prepared to risk in return for potential gains. Your risk appetite may depend on your age; if you are younger, for example, you have more time to play with and can hold Bitcoin for decades in the hope that its value will rise. Older investors may favour dedicating a small amount of their portfolio to Bitcoin and pursuing a riskier strategy.

Low Risk Bitcoin Investment &#; Diversify

Invest only 1% of your total wealth in crypto, and make Bitcoin investment a small proportion of that. Diversification is the key to low risk investment. BitBuy offers trading on 15 different cryptocurrencies so that you can build a diversified portfolio.

Medium Risk Bitcoin Investment &#; HODL

&#;HODL&#; means &#;Hold On for Dear Life&#. This is a popular phrase in the crypto world. It describes a long-term hold strategy. The idea is to buy Bitcoin right now, wherever the price is at, and &#; well &#; hold on for dear life! The Bitcoin price is likely to remain volatile. Crypto winters are the result of this sector-wide volatility, which mean that crypto prices slump for months at a time. The key to this strategy is to hold your Bitcoin stock throughout these crypto winters — and wait for the crypto Springs and Summers before you sell!

High Risk Bitcoin Investment &#; Margin and Leveraged Trading

Trading on margin (which means borrowing money to trade) is a classic high-risk way to trade Bitcoin. Using leveraged trades (available in some countries) is a way of doing margin trading. Leveraged trades are trades in which your gains or losses are amplified. Neither margin trading nor leveraged trading are remotely suitable for beginners — be in no doubt about that.

How To Invest in Bitcoin & Make Money &#; Example

If you had invested $1, in Bitcoin inyour investment would now be worth roughly $40 million.

More recently, Bitcoin rose in value by % between November and November  If you invested $ in Bitcoin now, and it experiences the same rate of price increase over the next year, your investment would be worth $ by March

When is the Best Time to Invest in Bitcoin?

In Aprilthe price of Bitcoin peaked at $64k. It became the best-performing asset of the decade with an annualised return over % since its launch. So, right now, is Bitcoin a good investment? The answer is yes if it continues to average an annual return of %.

Unfortunately there is no magic price level which Bitcoin can reach and then rise in a predictable fashion. The best time to invest in Bitcoin is always now, for the simple reason that, without a Bitcoin investment, an investor bitcoin investing canada for beginners possibly benefit from any gains in price. Just always be sure to invest money in crypto that you can afford to lose!

How to Invest in Bitcoin in Canada &#; Tutorial

1. Choose a Broker or Exchange

Brokers like BitBuy are regulated and offer a wide range or cryptocurrencies to invest in and have low fees. If you&#;re new bitcoin investing canada for beginners investing in crypto, BitBuy makes it easy to get started and you can invest as little as $50 CAD.

2, bitcoin investing canada for beginners. Sign up with BitBuy

Head to BitBuy and click Sign Up to create a new account, bitcoin investing canada for beginners. Enter your email address to get started, then fill in your phone number and create a username and password for your account.

3. Verify Your Account

BitBuy will make money doing online surveys uk you a one-time code to verify your mobile phone number. Enter this code to verify your account.

4. Deposit Funds

BitBuy lets you fund your account with cryptocurrency, an Interac e-transfer, or a bank wire, bitcoin investing canada for beginners. If you fund your account with crypto, there is no minimum deposit and no fee. For an Interac e-transfer, the minimum deposit is $50 and you&#;ll pay a % fee. For a bank wire, the minimum deposit is $20, and you&#;ll pay a % fee.

5. Buy Bitcoin with BitBuy

Now you&#;re ready to buy Bitcoin with BitBuy. Click on Express Trade to see the list of available cryptocurrencies, then click on Bitcoin. Enter the amount of Bitcoin you want to purchase in CAD. When you&#;re ready, click Buy Bitcoin to complete your purchase.

Buy Bitcoin with BitBuy

Cryptoassets are a highly volatile unregulated investment product. 

Conclusion

Should I invest in Bitcoin? It&#;s a question investors asked over a decade ago; and the answer turned out to be &#;yes, definitely!&#. Whether that remains the case is uncertain. And that&#;s why it is important to only invest a small proportion of your total wealth in crypto, and also to spread your crypto investment around. Crypto prices tend bitcoin investing canada for beginners follow the price of Bitcoin, but it always best to diversify.

We have reviewed 5 Bitcoin vendors. We have highlighted Bitbuy for its specialist model of earning Bitcoin passively as you spend. We have looked at three exchanges — Coinbase, Binance and CEX — and we admire their choice of crypto as well as plentiful crypto financing options. If you are a stickler for regulation and a crypto beginner, we recommend though that you begin your Bitcoin journey with easy-to-use broker BitBuy.

BitBuy is trusted by more thanCanadians and makes the process of buying Bitcoin incredibly simple. You can make a deposit in CAD and buy Bitcoin in minutes using the Express Trade system. For Bitcoin trading, BitBuy also offers a more advanced bitcoin investing canada for beginners platform with stop and limit orders. BitBuy charges just % for buying and selling Bitcoin, making it one of the most cost-effective crypto exchanges available in Canada today.

Ready to buy Bitcoin? Sign up with BitBuy to get started today!

bitcoin investing canada for beginners Open a Bitcoin investing canada for beginners Account

Cryptoassets are a highly volatile unregulated investment product. 

Frequently Asked Questions on Bitcoin Investment in Canada

The cryptocurrency industry has experienced a substantial boom over the past year, with Ethereum growing in value over % since the start of the year, and Bitcoin currently over % (at time of writing).

The growing interest from the general public around buying bitcoin and other cryptocurrencies has made it even more crucial for Canadians to search for a trusted crypto trading platform.

The good news is that what was previously a relatively unregulated space is now starting to grow and mature into one that places a stronger emphasis on consumer protection.

Interestingly enough, while many online crypto brokerages are now licensed Money Service Businesses under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Netcoins takes it a step further. By registering as a restricted dealer in Canada, bitcoin investing canada for beginners, they must now adhere to stricter guidelines set out by Canada's regulatory bodies. 

Now, Netcoins is Canada’s first publicly owned, fully regulated crypto trading platform. This means you have an additional level of consumer protection when you invest with Netcoins. 

While it may have been a challenge to buy bitcoin in Canada a few years ago, today, the process has been streamlined to make trading easier, safer and more efficient for everyday investors.

Netcoins makes it easy for Canadians to buy and sell bitcoin, ethereum and other cryptocurrencies in four simple steps. Simply create an account at www.oldyorkcellars.com, verify your identity, deposit Canadian funds and start buying bitcoin (or other cryptocurrencies of your choice).

Funding is almost always instant with Interac e-transfers. Users reliable bitcoin exchange uk also choose to fund via bank wires, online bill payments or a crypto deposit. The best part is that Netcoins doesn’t charge funding fees.

Trading is easy with Netcoins currently offering nine different cryptocurrencies, with plans to add more in the near future. So bitcoin investing canada for beginners you’re looking to buy bitcoin, buy ethereum or any of the other cryptocurrencies offered, all you have to do is enter the amount you’d like to purchase and confirm your trade. It’s that simple.

As one of Canada’s most experienced crypto companies, Netcoins is passionate about helping you invest in your bitcoin investing canada for beginners. That’s why they are on a mission to make it easy for you to buy and sell cryptocurrencies in a trusted environment.

To learn more and buy bitcoin, ethereum and other cryptocurrencies, visit www.oldyorkcellars.com

Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement prior to trading futures products.

Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Futures and futures options trading services provided by Charles Schwab Futures and Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify. Prior to a name change in SeptemberCharles Schwab Futures and Forex LLC was known as TD Ameritrade Futures & Forex LLC.

Charles Schwab Futures and Forex LLC, bitcoin investing canada for beginners, a CFTC-registered Futures Commission Merchant and NFA Forex Dealer Member. Charles Schwab Futures how do the creators of bitcoin make money Forex LLC is a subsidiary of The Charles Schwab Corporation.

TD Ameritrade, Inc. and all third-parties mentioned are separate unaffiliated companies and are not responsible for each other’s services or policies.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

TD Ameritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © Charles Schwab & Co., Inc. All rights reserved.

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Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement prior to trading futures products.

Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Futures and futures options trading services provided by Charles Schwab Futures and Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify. Prior to a name change in September , Charles Schwab Futures and Forex LLC was known as TD Ameritrade Futures & Forex LLC.

Charles Schwab Futures and Forex LLC, a CFTC-registered Futures Commission Merchant and NFA Forex Dealer Member. Charles Schwab Futures and Forex LLC is a subsidiary of The Charles Schwab Corporation.

TD Ameritrade, Inc. and all third-parties mentioned are separate unaffiliated companies and are not responsible for each other’s services or policies.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

TD Ameritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © Charles Schwab & Co., Inc. All rights reserved.

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Despite its well-known volatility, cryptocurrency is on fire and many investors are looking to profit on its white-hot rise. Cryptos such as Bitcoin and Ethereum ebb for a while and then climb higher, and many other popular digital currencies are doing so, too. Experienced traders have been speculating on crypto for years, but what if you&#x;re new to the market and looking to get a piece of the action?

Here&#x;s how to start investing in cryptocurrency and what you need to watch out for.

5 steps for investing in cryptocurrency

First things first, if you&#x;re looking to invest in crypto, you need to have all your finances in order. That means having an emergency fund in place, a manageable level of debt and ideally a diversified portfolio of investments. Your crypto investments can become one more part of your portfolio, one that helps raise your total returns, hopefully.

Pay attention to these five other things as you&#x;re starting to invest in cryptocurrencies.

1. Understand what you&#x;re investing in

As you would for any investment, understand exactly what you&#x;re investing in. If you&#x;re buying stocks, it&#x;s important to read the prospectus and analyze the companies thoroughly. Plan to do the same with any cryptocurrencies, since there are literally thousands of them, they all function differently and new ones are being created every day. You need to understand the investment case for each trade.

In the case of many cryptocurrencies, they&#x;re backed by nothing at all, neither hard assets nor cash flow. That&#x;s the case for Bitcoin, for example, where investors rely exclusively on someone paying more for the asset than they paid for it. In other words, unlike stock, where a company can grow its profits and drive returns for you that way, many crypto assets must rely on the market becoming more optimistic and bullish for you to profit.

Some of the most popular coins include Ethereum, Dogecoin, Cardano and XRP. Solana has been another massively successful coin as well. So before investing, understand the potential upside and downside. If your financial investment is not backed by an asset or cash flow, it could end up being worth nothing.

2. Remember, the past is past

A mistake that many new investors make is looking at the past and extrapolating that to the future. Yes, Bitcoin used to be worth pennies, but now is worth much more. The key question, however, is Will that growth continue into the future, even if it&#x;s not at quite that meteoric rate?

Investors look to the future, not to what an asset has done in the past. What will drive future returns? Traders buying a cryptocurrency today need tomorrow&#x;s gains, not yesterday&#x;s.

3. Watch that volatility

The prices of cryptocurrencies are about as volatile as an asset can get. They could drop quickly in seconds on nothing more than a rumor that ends up proving baseless. That can be great for sophisticated investors who can execute trades rapidly or who have a solid grasp on the market&#x;s fundamentals, how the market is trending and where it could go. For new investors without these skills &#x; or the high-powered algorithms that direct these trades &#x; it&#x;s a minefield.

Volatility is a game for high-powered Wall Street traders, each of whom is trying to outgun other deep-pocketed investors. A new investor can easily get crushed by the volatility.

That&#x;s because volatility shakes out traders, especially beginners, who get scared. Meanwhile, other traders may step in and buy on the cheap. In short, volatility can help sophisticated traders buy low and sell high while inexperienced investors buy high and sell low.

4. Manage your risk

If you&#x;re trading any asset on a short-term basis, you need to manage your risk, and that can be especially true with volatile assets such as cryptocurrency. So as a newer trader, you&#x;ll need to understand how best to manage risk and develop a process that helps you mitigate losses. And that process can vary from individual to individual:

• Risk management for a long-term investor might simply be never selling, regardless of the price. The long-term mentality allows the investor to stick with the position.
• Risk management for a short-term trader, however, might be setting strict rules on when to sell, such as when an investment has fallen 10 percent. The trader then rotely follows the rule so that a relatively small decline doesn&#x;t become a crushing loss later.

Newer traders should consider setting aside a certain amount of trading money and then using only a portion of it, at least at first. If a position moves against them, they&#x;ll still have money in reserve to trade with later. The ultimate point is that you can&#x;t trade if you don&#x;t have any money. So keeping some money in reserve means you&#x;ll always have a bankroll to fund your trading.

It&#x;s important to manage risk, but that will come at an emotional cost. Selling a losing position hurts, but doing so can help you avoid worse losses later.

5. Don&#x;t invest more than you can afford to lose

Finally, it&#x;s important to avoid putting money that you need into speculative assets. If you can&#x;t afford to lose it &#x; all of it &#x; you can&#x;t afford to put it into risky assets such as cryptocurrency, or other market-based assets such as stocks or ETFs, for that matter.

Whether it&#x;s a down payment for a house or an important upcoming purchase, money that you need in the next few years should be kept in safe accounts so that it&#x;s there when you need it. And if you&#x;re looking for an absolutely sure return, your best option is to pay off debt. You&#x;re guaranteed to earn (or save) whatever interest rate you&#x;re paying on the debt. You can&#x;t lose there.

Finally, don&#x;t overlook the security of any exchange or broker you&#x;re using. You may own the assets legally, but someone still has to secure them, and their security needs to be tight. If they don&#x;t think their cryptocurrency is properly secured, some traders choose to invest in a crypto wallet to hold their coins offline so they&#x;re inaccessible to hackers or others.

Other ways to invest in cryptocurrency

While investing directly in cryptocurrency may be the most popular way to do so, traders have other ways to get into the crypto game, some more directly than others. These include:

• Crypto futures: Futures are another way to wager on the price swings in Bitcoin, and futures allow you to use the power of leverage to generate massive returns (or losses). Futures are a fast-moving market and exacerbate the already volatile moves in crypto.
• Crypto funds: A few crypto funds (such as the Grayscale Bitcoin Trust) also exist that allow you to wager on the price swings in Bitcoin, Ethereum as well as a few other altcoins. So they can be an easy way to buy crypto through a fund-like product.
• Crypto exchange or broker stocks: Buying stock in a company that&#x;s poised to profit on the rise of cryptocurrency regardless of the winner could be an interesting option, too. And that&#x;s the potential in an exchange such as Coinbase or a broker such as Robinhood, which derives a huge chunk of its revenues from crypto trading.
• Blockchain ETFs: A blockchain ETF allows you to invest in the companies that may profit from the emergence of blockchain technology. The top blockchain ETFs give you exposure to some of the key publicly traded companies in the space. But it&#x;s important to note that these companies often do much more than crypto-related business, meaning your exposure to cryptocurrency is diluted, reducing your potential upside and downside.

Each of these methods varies in its riskiness and exposure to cryptocurrency, so you&#x;ll want to understand exactly what you&#x;re buying and whether it fits your needs.

Cryptocurrency investing FAQs

How much money do I need to start investing in cryptocurrency?

In theory it takes only a few dollars to invest in cryptocurrency. Most crypto exchanges, for example, have a minimum trade that might be $5 or $ Other crypto trading apps might have a minimum that&#x;s even lower.

However, it&#x;s important to understand that some trading platforms will take a huge chunk of your investment as a fee if you&#x;re trading small amounts of cryptocurrency. So it&#x;s important to look for a broker or exchange that minimizes your fees. In fact, many so-called free brokers embed fees &#x; called spread mark-ups &#x; in the price you pay for your cryptocurrency.

How does a blockchain work?

Cryptocurrency is based on blockchain technology. Blockchain is a kind of database that records and timestamps every entry into it. The best way to think of a blockchain is like a running receipt of transactions. When a blockchain database powers cryptocurrency, it records and verifies transactions in the currency, verifying the currency&#x;s movements and who owns it.

Many crypto blockchain databases are run with decentralized computer networks. That is, many redundant computers operate the database, checking and rechecking the transactions to ensure that they&#x;re accurate. If there&#x;s a discrepancy, the networked computers have to resolve it.

How do you mine cryptocurrency?

Some cryptocurrencies reward those who verify the transactions on the blockchain database in a process called mining. For example, these miners involved with Bitcoin solve very complex mathematical problems as part of the verification process. If they&#x;re successful, miners receive a predetermined award of bitcoins.

To mine bitcoins, miners need powerful processing units that consume huge amounts of energy. Many miners operate huge rooms full of such mining rigs in order to extract these rewards. As of early , running the Bitcoin system burned as much energy as a medium-sized country.

How can I invest in Bitcoin?

If you&#x;re looking to invest in Bitcoin, you have a variety of ways to do so, and you can work with a number of companies, including:

• Crypto exchanges: Exchanges have some of the widest selection of cryptocurrencies, and they tend to be the most competitive on price. Top players include Coinbase, Kraken and Binance, but there are literally dozens of others.
• Traditional brokers: Many traditional brokers also allow you to trade Bitcoin in addition to stocks and other financial assets, though they have a relatively limited selection of other cryptocurrencies. Top players here include Interactive Brokers, TradeStation and tastyworks.
• Financial apps: Many financial apps now allow you to trade Bitcoin and a few other cryptos. Top players here include Robinhood and Webull as well as payment apps such as PayPal, Venmo and Cash App.

If you&#x;re looking to buy Bitcoin, pay particular attention to the fees that you&#x;re paying. Here are other key things to watch out for as you&#x;re buying Bitcoin.

What are altcoins?

An altcoin is an alternative to Bitcoin. Many years ago, traders would use the term pejoratively. Since Bitcoin was the largest and most popular cryptocurrency, everything else was defined in relation to it. So, whatever was not Bitcoin was lumped into a derisive category called altcoins.

While Bitcoin is still the largest cryptocurrency by market capitalization, it&#x;s no longer as dominant as it was in the very early days of cryptocurrency. Other altcoins such as Ethereum and Solana have grown in popularity, making the term altcoin somewhat outmoded. Now with a reported 15, or more cryptocurrencies in existence, it makes less sense than ever to define the industry as Bitcoin and then everything else.

Bottom line

Cryptocurrency is a highly speculative area of the market, and many smart investors have decided to put their money elsewhere. For beginners who want to get started trading crypto, however, the best advice is to start small and only use money that you can afford to lose.

Learn more:

Looking to buy bitcoin in Canada? This in-depth guide covers where and how to buy bitcoin and the best cryptocurrency exchanges that offer it in Canada.

Bitcoin is the world&#;s most popular digital currency and the strongest contender for a decentralized currency that could rival fiat money as a legal tender someday.

When you consider that the Canadian dollar (i.e. fiat currency) we use to conduct everyday buy and sell transactions has no intrinsic value other than that bestowed upon it by the government, the concept of electronic money begins to take shape.

Fiat money is a currency (a medium of exchange) established as money, often by government regulation, but that does not have intrinsic value (value independent of the nominal value, such as a precious metal might have). Fiat money does not have use value (inherent utility, such as a cow or beaver pelt might have), and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.

Wikipedia

Bitcoin and altcoins such as Ether, Litecoin, and XRP are somewhat similar to fiat currencies. Simply put, their intrinsic value is tied to the value placed on them by users.

Other factors that determine cryptocurrency values include their supply, demand, acceptability, cost of mining them, and government regulation or lack thereof.

Read on to learn about Bitcoin, how to buy Bitcoin in Canada in , and whether it is safe and legal.

Key Takeaways: You can buy bitcoin in Canada using cryptocurrency exchanges like CoinSmart, Wealthsimple Crypto, Bitbuy, NDAX, Coinberry, Binance, and www.oldyorkcellars.com Bitcoin trading is legal in Canada and you should note that profits are taxable as capital gains, or as income if you are classified as a day trader.

What is Bitcoin?

Bitcoin is what comes to mind when you think about digital currencies. It is a cryptocurrency that was invented in by a person or group of persons known as Satoshi Nakamoto.

The &#;crypto&#; in cryptocurrency refers to the use of cryptography to create new units of cryptocurrency as well as verify and secure transactions on the peer-to-peer network.

Since Bitcoin is decentralized, no Central Bank or intermediary is involved and the system relies on technology and code. This decentralization has also made it a target of hackers and it has been used to fund various illegal activities including terrorism and money laundering.

New Bitcoin is created by Bitcoin miners who use high-speed computers to solve complex mathematical problems.

In exchange for adding new records to the public ledger (also called Blockchain) and verifying transactions in the network, a miner is rewarded with Bitcoin tokens.

The maximum amount of Bitcoin that can ever be mined is 21 million. You can purchase very small units of Bitcoin, with the smallest amount equal to BTC (also referred to as 1 Satoshi).

Bitcoin is traded under the symbol BTC or XBT and its value changes all through the day similar to stock prices on an exchange.

The highest value of 1 Bitcoin was reached on November 10, , when it sold for an all-time high of $68, USD.

The Top Cryptocurrencies by Market Capitalization

The top cryptocurrencies, stablecoins, and altcoins by market capitalization (in USD) as of March 6, , are:

How and Where To Buy Bitcoin in Canada

There are several ways to buy Bitcoin in Canada.

Your options include buying it from an online cryptocurrency exchange (e.g. CoinSmart, Bitbuy, and NDAX), a cryptocurrency broker, or a crypto trading platform (e.g. Wealthsimple Crypto, Newton, and Coinberry); or at a Bitcoin ATM.

There are also ways to purchase Bitcoin through peer-to-peer (P2P) networks or Over-the-Counter (OTC).

1. Coinsmart

Coinsmart is a cryptocurrency exchange offering the major cryptocurrency coins to Canadians. It is based in Toronto and is one of only a few crypto platforms that allows you to buy Bitcoin in Canada using a credit card.

New clients get verified within minutes and advanced traders get access to charting, limit trades, and more.

• Great for: Beginners and Advanced traders.
• Coins offered: 16 types including BTC, ETH, LTC, EOS, XLM, ADA, USDT, SHIB, UNI, DOT, LINK, SOL, MATIC, AVAX, and BCH.
• Account funding options: Interac e-transfer, bank wire, bank draft, credit, and debit cards.
• Trading fees: % for CAD to cryptocurrency trades, free fiat deposits, 1% fee on CAD withdrawals.
• App: Available on iOS and web interface on all devices.
• Promotion: Get a $30 bonus when you open and fund a new account with at least $
• Review: CoinSmart review.

Is Coinsmart Safe?

Coinsmart is ranked as the best place to buy bitcoin and other cryptocurrencies in Canada on this list.

It uses 2FA and SSL encryption to protect your account. 95% or more of the coins on the platform are kept in cold storage wallets and as per the website, your fiat funds are kept in Canadian banks.

Pros of Coinsmart

• Quick verification of new clients within minutes
• Supports credit card funding
• Offers 16 popular coins
• 24/7 support
• Access to an advanced trading platform
• Access to multiple fiat currencies
• Great for beginners and experts

Cons of Coinsmart

• Assets on the platform are not insured by CIPF or CDIC
• Fees on some deposits and withdrawals

2. Wealthsimple Crypto

Wealthsimple Crypto is the first regulated cryptocurrency platform in Canada, having received authorization to operate by the Canadian Securities Administrators (CSA).

If you are not familiar with Wealthsimple, it is the most popular online wealth management platform in Canada.

Wealthsimple Crypto is a simple and secure way tobuy and sellBitcoin, Ethereum, and several other coins right from your phone. Its UX is particularly optimized for beginners who are new to digital currency trading.

After signing up for a Wealthsimple Crypto account and funding your account, you are able to trade cryptocurrency via the app in just a few clicks.

Wealthsimple Crypto works like a broker. When you put in an order to purchase or sell crypto, they connect you to a market maker(s) who finds the best price available on the largest exchanges.

Your crypto holdings are then held with a regulated custodian (Gemini) which keeps your cryptocurrency secure in cold storage.

• Best bitcoin trading platform for beginners
• Coins offered: 34 coins including BTC, ETH, BAT, MANA, COMP, ADA, KNC, MKR, DOT, CRV, YFI, SNX, UNI, and several others.
• Account funding options: Bank transfer
• Trading fees: Spread on buy and sell prices (%-2%); no fees for withdrawals or deposits
• App: Available on iOS and Android
• Promotion: $50 for Wealthsimple Crypto when you deposit and trade at least $ worth of crypto
• Review: Wealthsimple Crypto review

Is Wealthsimple Crypto Safe?

Cryptocurrency trading is very risky, so there is that.

With regards to the security afforded your account, Wealthsimple Digital Assets (the company offering Wealthsimple Crypto) is registered as a restricted dealer in all jurisdictions of Canada except Quebec. In Quebec, the company is registered as a derivatives dealer.

Your Crypto assets (i.e. Bitcoin and Ethereum) are held in cold storage by Gemini Trust Company LLC. Gemini uses FIPS Level 3-rated or higher hardware security modules (HSMs) and is subject to regulation by the New York Department of Financial Services.

Gemini has $ million in cold storage insurance. Its CEO and President are the Winklevoss twins (co-founders of Facebook).

Pros of Wealthsimple Crypto

This account offers several benefits including:

• You can sign up and create an account within minutes
• There are no account minimums and you do not pay a fee to deposit or withdraw your funds
• Wealthsimple Crypto is regulated and is owned by a reputable company
• The app offers instant trades and real-time quotes
• Their custodian, Gemini, is a trusted name in the cryptocurrency space
• Wealthsimple Trade and Wealthsimple Crypto are accessible through the same app, making life easier for you if you also plan to purchase stocks and ETFs using a discount brokerage platform.
• The platform is available in all 13 provinces and territories in Canada

Cons of Wealthsimple Crypto

Downsides of Wealthsimple Crypto include:

• Your assets are not eligible for protection by CIPF or CDIC
• Price spread is on the high side

How To Open an Account With Wealthsimple Crypto

To open an account, you must be at least 18 years of age, have a social insurance number, and be a resident of Canada.

If you are not already a Wealthsimple client, you will also need to verify your identity in line with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) requirements.

3. Bitbuy

Bitbuyis a top-rated Cryptocurrency exchange in Canada that offers buy and sell trades in Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, XRP, Chainlink, Aave, and Stellar. It was founded in and operates out of Toronto.

Getting started is a breeze. After creating an account, you can fund it using Interac e-transfer and bank wire to begin trading.

• Great for: Beginners and advanced traders.
• Coins offered: BTC, ETH, LTC, EOS, XLM, BCH, LINK, AAVE, and several others (15 types).
• Account funding options: Interac e-transfer and bank wire.
• Trading fees: Up to % trading fee; up to % fee for CAD deposits and withdrawals; fees vary for crypto withdrawals.
• App: Available on iOS and Android.
• Promotion: Get a $40 bonus when you open an account and make an initial deposit of $ or more.
• Review: Read my detailed Bitbuy review.

Is Bitbuy Safe?

Bitbuy uses 2-factor authentication and SSL encryption to secure your account. It is registered with FINTRAC as a Money Service Business and 95% of its coins are kept in cold storage.

Pros of Bitbuy

• Quick sign-up and instant verification
• Offers multiple coins
• Offers multiple trading platforms including mobile and advanced trading tools for pros (including OTC trading)
• You can access various order types and real-time quotes

Cons of Bitbuy

• Your assets are not insured by CIPF or CDIC
• Does not support credit card funding
• Has fees for withdrawals and deposits

4. NDAX

The National Digital Asset Exchange (NDAX) offers an easy-to-use platform to trade 28 cryptocurrencies in Canada. It is also one of the cheapest places to buy Bitcoin, with low trading fees.

The platform is available on all devices and advanced traders can utilize its advanced charting tools and order types.

• Great for: Beginners and Advanced traders.
• Coins offered: 32 types including BTC, ETH, LTC, EOS, XRP, XLM, LINK, USDT, ADA, DOGE, UNI, COMP, AAVE, DOT, SHIB, FTM, LUNA, AVAX, MATIC, AXS, and more.
• Account funding options: Interac e-transfer, bank wire transfer, and bank draft.
• Trading fees: % for buy and sell trades; free fiat deposits, $25 low flat fee for CAD withdrawals, crypto deposits are free and there are varying fees for crypto withdrawals.
• App: Available on iOS and web interface on all devices.
• Promotion: Get $10 when you open and fund a new account with at least $
• Review: NDAX review.

Is NDAX Safe?

95% to 98% of the digital assets on NDAX are in cold storage and the platform uses 2FA and SSL to protect your account. Multiple signatories are required to transfer funds out of cold storage.

NDAX is a registered Money Service Business and complies with rules set by FINTRAC.

Pros of NDAX

• Offers access to 28 crypto coins
• Offers instant ID verification
• It has one of the lowest trading fees in Canada
• 24/7 access to customer support
• Access to advanced trading tools

Cons of NDAX

• Your securities are not protected by CIPF or CDIC
• It does not offer credit card funding
• There is a fee for some deposits and withdrawals

5. Newton

Newton is a cryptocurrency brokerage and one of the best platforms to buy bitcoin in Canada as a beginner. It is a Canada-based company and offers a wide selection of crypto assets to choose from (55+ coins)

Creating an account is easy with instant verification for most registrants.

• Great for: Beginners
• Coins offered: 55+ coins including many of the popular ones (Bitcoin, Ethereum, Axie infinity, OMG Network, Avalanche, Decentraland, Hedera, UMA, Synthetix, and several others)
• Account funding options: Interac e-Transfer and bank wire
• Trading fees: The spread on buy and sell prices is up to %; fiat deposits and withdrawals are free
• App: Available on iOS and Android
• Promotion: Get a $25 bonus when you fund your account and trade at least $ worth of crypto.
• Review: Newton crypto review.

Newton is always adding new coins, making it easy to buy less popular coins without needing to join a foreign-based platform.

Also, you can easily move your crypto assets on Newton offline to your personal hardware wallet.

6. Binance

Binance is one of the largest cryptocurrency exchanges in the world with an average volume of $2 billion in trades per day.

The company was founded by Changpeng Zhao and is based in Malta.

If you want an advanced cryptocurrency platform to buy bitcoin or one that makes it easy to trade hundreds of crypto pairs, this platform may work for you. It also offers a derivatives crypto market with futures contracts and options.

• Coins offered: +
• Trading fees: Depends on your membership tier; up to %
• Funding options: Cryptocurrency, Interac e-Transfer, debit card, credit card, third-party payments, bank deposit with SEPA
• Security: 2FA, Withdrawal Address Management, and cold storage
• Promotion: Get a 20% discount on fees when you sign up using our referral link

Binance also offers an OTC platform for large trades and has its own mobile wallet, Trust Wallet.

7. Coinberry

Coinberry is a popular cryptocurrency platform founded in in Canada. It is based in Toronto and is registered as a Money Service Business with FINTRAC.

Users of the platform can buy 29 different virtual currencies including Bitcoin, Ethereum, Litecoin, XRP (Ripple), Bitcoin Cash, and Stellar.

• Coins offered: 29 types
• Trading fees: Based on a price spread and can be up to %. Deposits and withdrawals are free
• Funding options: Interac e-Transfer and wire transfer
• Security: Coinberry keeps most of its coins in cold storage with Gemini Trust Company, a regulated crypto custodian
• Promotion: Get a $50 bonus when you open an account and trade at least $50 worth of crypto

Coinberry is available on all devices and has a partnership with the Town of Innisfil and the City of Richmond Hill to accept the payment of property taxes using bitcoin. Learn more in my detailed Coinberry review.

Cons: You can only move 4 coins offline to your personal wallet and the price spread is on the high side.

8. www.oldyorkcellars.com

www.oldyorkcellars.com is one of the world&#;s largest cryptocurrency exchanges with over 10 million users in 90+ countries.

Based in Hong Kong, www.oldyorkcellars.com was founded in and supports + coins including all the popular ones and some lesser-known coins.

In addition to trading crypto, this platform has several other products including its own line of metal Visa credit cards, Crypto Earn (stake coins and earn), crypto loans, margin trading, DeFi, NFTs, and derivatives trading for advanced traders.

• Great for: Experienced traders and those looking for a wide selection of digital assets
• Coins offered: +
• Trading fees: Varies depending on your membership tier level up to % (other fees may apply).
• Funding options: Cryptocurrency deposits, bank transfer, credit/debit card
• Security: 2FA, cold storage, encryption
• Promotion: Get a $25 bonus when you stake enough www.oldyorkcellars.com Coin (CRO) for a www.oldyorkcellars.com Visa credit card. You can also use this referral code (ypa22jvaeg)
• Review: www.oldyorkcellars.com review.

9. MogoCrypto

MogoCrypto is a cryptocurrency trading platform in Canada. In addition to crypto trading, Mogo also offers other products including free credit scores, personal loans, mortgages, and more.

Mogo is a Canadian financial technology company with offices in Vancouver, Surrey, and Winnipeg. The parent company, Mogo Inc., is publicly traded on the Toronto Stock Exchange and NASDAQ.

Similar to Wealthsimple Crypto, MogoCrypto functions as a broker that makes it easy to purchase cryptocurrency in just a few clicks. MogoCrypto only offers trading in Bitcoin and Mogo members can place trades using the Mogo app or portal.

To gain access to the platform, sign up for a Mogo Account. After, you can fund your account using Interac e-Transfer. MogoCrypto uses Coinsquare (goNumerical Ltd.) to facilitate purchases and sales of Bitcoin and to hold it.

• Coins offered: Bitcoin
• Account funding options: Interac e-Transfer
• Trading fees: 1% trading fee plus the exchange partner&#;s price may include fees or mark-ups
• App: Available on iOS and Android
• Review: Mogo Canada review

Is MogoCrypto Safe?

It bears repeating that trading cryptocurrency is a high-risk gamble. You may win big, or lose a lot of money.

Mogo Inc. is a legitimate company in Canada with an A+ rating on the Better Business Bureau. Your MogoCrypto assets are held with Coinsquare, an exchange that has been around since

Coinsquare uses SSL and 2FA plus 95% cold storage to protect your account. The company recently ran afoul of the Ontario Securities Commission and both the founder and CEO had to step down.

Pros of MogoCrypto

• You can easily create a free account within minutes
• The platform offers instant trades in Bitcoin
• Funding your account using Interac e-Transfer can be completed within 30 minutes
• The cryptocurrency exchange by Mogo is based in Canada. Coinsquare keeps your coins safe by putting 95% of crypto assets in cold storage
• Mogo is a publicly-traded company with more than 1 million members

Cons of MogoCrypto

• The 1% trading fees do not include mark-ups that may be charged by Coinsquare
• MogoCrypto only offers trades in Bitcoin. Other cryptocurrencies are not available
• You cannot transfer your Bitcoin from MogoCrypto to any other wallet or exchange. Also, you cannot transfer Bitcoin purchased elsewhere to the platform
• There is a hold period when you want to withdraw funds from your account
• Coinsquare recently had to pay significant fines after it was found misleading investors and inflating trading volumes between July and December
• MogoCrypto is only available to residents of Manitoba, Ontario, British Columbia, Alberta, New Brunswick, Prince Edward Island, Newfoundland and Labrador, and Nova Scotia

Coinbase

Coinbase is a cryptocurrency brokerage platform based in the United States and open to members from countries.

It has over 1, employees, 35 million users, and has traded more than $ billion worth of cryptocurrency.

• Coins offered: Several popular coins (50+)
• Trading fees: Varies based on your location and includes a spread (~%), cost of funding option (up to %), and a Coinbase Fee for transactions below $ (expensive)
• Funding options: Credit and debit cards, bank account, wire transfer, and cryptocurrency
• Security: 98% cold storage, 2-step verification, hot wallet holdings are insured

Coinbase has a crypto exchange, Coinbase Pro, with lower trading fees, charting tools, and advanced options.

Bitcoin ATM

You can purchase Bitcoin at a vending machine specifically designed for buying and selling cryptocurrency. Generally, you should already have a Bitcoin address where your Bitcoin will be deposited and you pay using cash.

Some Bitcoin ATMs also allow you to exchange Bitcoin for cash.

The commissions charged by Bitcoin ATMs are typically higher than what you&#;d pay on an exchange.

As of this update in , there were 1, Bitcoin ATMs in Canada. You can locate the ones in your area here.

How To Store Your Bitcoin

Bitcoin is stored on a wallet that can be installed on your computer or phone. You can also use a hardware wallet or even a paper wallet.

A wallet works like a traditional wallet or bank account and contains your private and public keys.

Your public key is the string of alphanumeric symbols you provide to someone who is sending you Bitcoin. Your private key is what gives you access to your coins and you should guard it carefully.

If your private key is compromised, you can lose all your funds.

The four main types of Bitcoin wallet are:

• Desktop wallets
• Mobile wallets
• Web wallets
• Hardware wallets

Hardware wallets are offline (aka cold storage) and are the most secure types of wallets available. They can be a bit expensive compared to software wallets.

You can also simply print off your private and public keys and corresponding QR codes on paper and store them in a safe place.

Bitcoin trading platforms like Coinsmart, Wealthsimple Crypto, and NDAX keep your cryptocurrency in cold storage with their custodians or exchange partners.

Is Bitcoin Trading Legal in Canada?

It is legal to buy, sell, and spend Bitcoin in Canada. However, the Financial Consumer Agency of Canada wants you to know that Bitcoin and other cryptocurrencies are not legal tender in Canada.

Only banknotes issued by the Bank of Canada under the Bank of Canada Act and coins issued under the Royal Canadian Mint Act are considered to be legal tender.

This does not stop you from using Bitcoin to pay for goods and services wherever it is accepted as a means of payment.

Also, it is perfectly legal to buy and sell Bitcoin and make a profit or capital gain when you sell your coin for more than you paid for it.

If you are tech-savvy enough to indulge in Bitcoin mining, this activity is also legal in Canada. I should note that as the competition has increased over time, Bitcoin mining has become a lot more expensive.

Pros and Cons of Trading Bitcoin in Canada

There are many advantages and disadvantages of trading Bitcoin in Canada.

Pros of Bitcoin

• Bitcoin has the largest market capitalization among cryptocurrencies and is easy to buy and sell i.e. it is liquid
• Its acceptance as a means of payment for goods and services has increased and it has real-life utility. You can also exchange Bitcoin for fiat currencies e.g. CAD, USD, EUR,GBP, and others
• You can make money trading Bitcoin if you buy low and sell high
• It has a finite supply which infers it should be able to hold intrinsic value over the long term. This also makes it less sensitive to inflation
• It is a decentralized system and is theoretically not subject to the whims and caprices of any Central Bank
• Bitcoin offers in-built privacy protections and transactions are anonymous

Cons of Bitcoin

• The value of Bitcoin fluctuates wildly and often there are no concrete fundamentals to explain the big movements in price
• Hackers can steal Bitcoin from wallets especially those online. Stolen digital currencies are often not recoverable. You can also lose your keys and access to your coins
• There is limited regulatory oversight of digital currencies by the government. So, if you are a victim of fraud, you may have limited recourse to get your money back
• Your funds are not protected by Canada Deposit Insurance Corporation (CDIC) or the Canadian Inevstor Protection Fund (CIPF)
• There are lots of competing alternative coins (alt-coins) and many Initial Coin Offerings (ICOs) are introduced each day. As the numbers increase, Bitcoin becomes less dominant
• Bitcoin is not accepted as a means of payment by most businesses and it is banned in a few countries
• Bitcoin mining uses a lot of electricity (energy) which is detrimental to the environment

Is Bitcoin Safe?

Bitcoin is a speculative investment and you should not trade it using funds you cannot afford to lose.

Having lost thousands of dollars day-trading S&P , NASDAQ, and Dow Jones Industrial Average (DJIA) e-mini futures in the early s, I&#;m no stranger to speculative investments and high-risk trading.

These days, only a negligible portion of my net worth goes towards non-traditional assets (e.g. Bitcoin and P2P lending). My portfolio is largely composed of hassle-free one-ticket ETFs.

Bitcoin and other cryptocurrencies can make you a lot of money, but you can also lose % of your investments.

A good example of how this can happen is Quadriga. When this cryptocurrency exchange went belly-up in following the alleged death of its founder, Gerald Cotten, customers lost $ million.

I lost approximately $ or so in Ether when this happened.

In addition to unscrupulous exchanges, there is also a challenge with hackers who steal Bitcoin from exchanges through ransomware and other fraudulent means.

As per this Forbes article, over $4 billion worth of cryptocurrencies was stolen in the first half of alone.

It goes without saying that Bitcoin trading is a very risky venture and you should only invest in it after doing your due diligence.

In order to decrease the chances that you could lose your funds, use a regulated cryptocurrency trading platform and avoid leaving your Bitcoin in a hot wallet.

Bitcoin Taxation in Canada

Gains from cryptocurrency trading are taxable in Canada. As per the Canada Revenue Agency (CRA), cryptocurrency is treated as a commodity under the Income Tax Act.

How you report the gains or income from digital currencies depends on whether you are:

• Accepting payments in cryptocurrencies
• Trading cryptocurrencies, or
• Mining cryptocurrencies

Let us start with the business owner who accepts Bitcoin as a means of payment. In this case, the value of Bitcoin received is reported as business income for tax purposes.

In order to figure out the value of the transaction, you can use the exchange rate available at the time of the transaction in Canadian dollars.

If your business is registered to collect GST/HST, you must also collect and remit this tax amount.

Infrequent Bitcoin users may also have to pay taxes on Bitcoin usage.

For example, if you bought Bitcoin in order to pay for goods and services and it increases in value, you are required to declare a capital gain when you dispose of it. The same applies to buy and hold investors.

Capital gains are taxed differently from income. Only 50% of your gains are added to your taxable income for the year.

If you incur a loss, it is treated as a capital loss and can be offset against capital gains for the year or any of the preceding three years.

If CRA classifies you as a day trader based on the nature of and frequency of your transactions, your profits may be taxable as business income.

Cryptocurrency miners who are deemed to be conducting a business will have to report profits as taxable income.

There are many angles to how the CRA considers cryptocurrency profits. For instance, taxable income or capital gains may also be generated when you exchange one cryptocurrency for another e.g. Bitcoin for Ethereum.

You can check this CRA guidefor more information.

How To Buy Bitcoin in Canada: CoinSmart vs Wealthsimple Crypto vs Bitbuy

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Buy Bitcoin in Canada FAQ

Have you bought bitcoin since it took to the airwaves? Let us know about your experiences in the comments.

The cryptocurrency industry has experienced a substantial boom over the past year, with Ethereum growing in value over % since the start of the year, and Bitcoin currently over % (at time of writing).

The growing interest from the general public around buying bitcoin and other cryptocurrencies has made it even more crucial for Canadians to search for a trusted crypto trading platform.

The good news is that what was previously a relatively unregulated space is now starting to grow and mature into one that places a stronger emphasis on consumer protection.

Interestingly enough, while many online crypto brokerages are now licensed Money Service Businesses under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Netcoins takes it a step further. By registering as a restricted dealer in Canada, they must now adhere to stricter guidelines set out by Canada's regulatory bodies. 

Now, Netcoins is Canada’s first publicly owned, fully regulated crypto trading platform. This means you have an additional level of consumer protection when you invest with Netcoins. 

While it may have been a challenge to buy bitcoin in Canada a few years ago, today, the process has been streamlined to make trading easier, safer and more efficient for everyday investors.

Netcoins makes it easy for Canadians to buy and sell bitcoin, ethereum and other cryptocurrencies in four simple steps. Simply create an account at www.oldyorkcellars.com, verify your identity, deposit Canadian funds and start buying bitcoin (or other cryptocurrencies of your choice).

Funding is almost always instant with Interac e-transfers. Users can also choose to fund via bank wires, online bill payments or a crypto deposit. The best part is that Netcoins doesn’t charge funding fees.

Trading is easy with Netcoins currently offering nine different cryptocurrencies, with plans to add more in the near future. So if you’re looking to buy bitcoin, buy ethereum or any of the other cryptocurrencies offered, all you have to do is enter the amount you’d like to purchase and confirm your trade. It’s that simple.

As one of Canada’s most experienced crypto companies, Netcoins is passionate about helping you invest in your future. That’s why they are on a mission to make it easy for you to buy and sell cryptocurrencies in a trusted environment.

To learn more and buy bitcoin, ethereum and other cryptocurrencies, visit www.oldyorkcellars.com

Buy BTC with Binance

Cryptoassets are a highly volatile unregulated investment product. 

4. CEX – Leading UK Exchange with 70+ Crypto

CEX is a UK crypto exchange that has stood the test of time. Launched back in , CEX has attracted over 4m investors worldwide. Canadian investors will be pleased to hear that you can buy Bitcoin instantly with CEX using a Canadian credit/debit card (% fee applies). Payments by SWIFT, SEPA, ACH, and e-wallet Skrill are available, depending on your country of residence.

CEX offers a decent range of 70+ crypto and a spread of regulation in the UK, USA, Gibraltar and Cyprus. A testament to CEX&#;s commitment to fair dealings is its involvement as a founding member of CryptoUK, an organisation which aims to streamline relations between the crypto world and stringent UK authorities.

As with fellow exchanges Coinbase and Binance, CEX offers crypto staking as well as the ability to get a crypto loan. As with Binance, margin trading is available — but this is only recommended for advanced traders. As freebies, CEX offers a smartphone app as well as a crypto wallet.

Buy Bitcoin with CEX

Cryptoassets are a highly volatile unregulated investment product. 

What is the Best Way to Invest in Bitcoin?

How to invest in Bitcoin in Canada depends on your priorities. You can buy Bitcoin as an asset in its own right, or you can invest in what are known as &#;Bitcoin stocks&#;.

Buying Bitcoin

• Buy Bitcoin instantly with credit card at crypto exchanges like Coinbase, Binance and CEX. But watch out for high card commissions.
• Fund your account with a crypto broker like BitBuy. Then use those funds to buy Bitcoin.
• Use a Bitcoin robot service like Bitcoin Buyer or Bitcoin Evolution. These providers will use computer algorithms to spot trading opportunities for you. The emphasis here is on making money from Bitcoin trades, rather than amassing a store of Bitcoin.
• Check out some crypto signals providers. These teams of experts will send you details of upcoming crypto trading opportunities via Telegram. You can then take their advice (if you want) and execute the proposed trades yourself with a broker or exchange.
• Buy Bitcoin with PayPal &#; many options exist.

Investing in Bitcoin Stocks

You can explore what are known as &#;blockchain ETFs&#;. These are Exchange-Traded Funds which hold stocks in companies that do business in blockchain-related areas. An example of a blockchain ETF is the Amplify Transformational Data Sharing ETF (BLOK).

ETFs which simply hold Bitcoin (in the form of futures contracts) are just coming onto the market as regulators give them the green light. Currently available, for example, is the Pro Shares Bitcoin Strategy ETF (available with www.oldyorkcellars.com).

Remember that you won&#;t find ETFs available with a dedicated crypto exchange.

Should I Invest in Bitcoin?

Investing in any crypto comes with considerable risk. The market is still young and price volatility is high. You should invest no more than 1%-5% of your total wealth in crypto. And it is a good idea to spread your crypto investment around. That being said, Bitcoin&#;s pole position in the crypto sector makes it perhaps one of the best long-term crypto investments. Here are five reasons why:

Take the Example of the Big Finance Players

Bitcoin is no longer new. Despite resistance from entrenched interests in the global finance world, Bitcoin is being taken on by PayPal, Mastercard and Visa. Apple and Amazon have said they will get involved too. And don&#;t forget El Salvador; for an entire country to make Bitcoin legal tender (which is what El Salvador did in ) represents a quantum leap forward in the evolution of the crypto sector as a whole.

Follow the Big Banks

The whole point of crypto is that, compared to conventional fiat currencies, it is decentralised. This means that there is no single central authority determining how much crypto there is, or who gains from transaction fees. Instead, transaction details are held on a distributed ledger, and transactions are authorised via a community rather than a big bank for example. At first, therefore, Bitcoin was greatly mistrusted by the big banks and sovereign regulators. But that has changed.  85% of institutional investors surveyed in  said that they planned to begin investing in Bitcoin over the next two years, or to multiply their investments if they had begun investing.

Good Tokenomics

Just like gold, Bitcoin is a finite asset. This means there will only ever be so much Bitcoin in circulation. The total supply of 21 million coins will be reached in approximately year&#;s time. This makes for a permanent support to its price; gold is so expensive, of course, for exactly the same reason of limited supply and worldwide demand. Bitcoin&#;s limited supply also means that it is unlikely to suffer the devaluation through inflation that has become the scourge of global fiat currencies right now: inflation in the US, for example, is at a 40 year high.

Market Leader Advantage

Is Bitcoin a good investment? That depends on the future, which nobody can predict accurately. What we can say with confidence, though, is that Bitcoin is the biggest and most popular crypto and is likely to stay that way. This gives Bitcoin a real advantage over other crypto. A virtuous circle of investment and awareness is in place: people know about Bitcoin, so they invest in it, so it gets a higher profile, and so on. Other less well-known coins among Metaverse coins, DeFi coins and meme coins may offer more dramatic short-term returns; but Bitcoin is out in front and likely to stay there.

Buy Before Bitcoin Breaks Out

Since 23rd February , Bitcoin has stopped falling. Its price has risen and fallen erratically between $35k and $45k with a general upwards trajectory. Some technical analysts say this behaviour is a &#;continuation&#; pattern, which means that shortly the price will either take off or fall dramatically. However, until this point, technical analysis of crypto in general has fallen short. Investor sentiment is such a key factor in crypto prices that a Bitcoin price prediction is always going to be unreliable. Bitcoin, now priced around $40k, has been in this price region six times since the new year. One strategy is to buy now and expect Bitcoin to break out of this pattern soon.

Choosing a Bitcoin Wallet for Investing

Beginners should get one thing straight: you do not need to use a crypto wallet to buy and sell Bitcoin. The best crypto exchanges in Canada like BitBuy allow you to store your crypto inside your brokerage account. So, there&#;s very little difference between holding Bitcoin and holding more traditional assets like stocks.

So why do investors use crypto wallets? Crypto wallets allow you to hold crypto like Bitcoin on your own terms, as well as transfer it around the web to pay for items. You also receive a unique address on the blockchain which you can use to receive crypto payments. With some brokers like Binance, you can send crypto around using the in-house wallet. But generally a full-blown crypto wallet is required.

Crypto wallets are divided into those which are custodial and non-custodial:

• Custodial wallets mean the wallet is effectively in the &#;custody&#; of the provider. This means that, if you lose your login details, you will be able to get back into your wallet. Binance offers two custodial wallets (the Binance Trust wallet and the Binance Chain Wallet). Coinbase and CEX offer custodial wallets too.
• Non-custodial wallets are wallets to which you alone have the private key. An example of a non-custodial wallet is the Metamask wallet, which allows you to buy any ERC token but which does not allow you to withdraw fiat currency funds. If you lose your private key to your Metamask wallet as well as lose your &#;seed&#; phrases, you are stuffed!

If you use BitBuy to buy Bitcoin, you can send your Bitcoin to any custodial or non-custodial wallet. Or, keep things simple by holding your Bitcoin in your BitBuy account.

Bitcoin Investment Strategies

How to invest in Bitcoin and make money depends on your own individual appetite for risk. This means how much money you are prepared to risk in return for potential gains. Your risk appetite may depend on your age; if you are younger, for example, you have more time to play with and can hold Bitcoin for decades in the hope that its value will rise. Older investors may favour dedicating a small amount of their portfolio to Bitcoin and pursuing a riskier strategy.

Low Risk Bitcoin Investment &#; Diversify

Invest only 1% of your total wealth in crypto, and make Bitcoin investment a small proportion of that. Diversification is the key to low risk investment. BitBuy offers trading on 15 different cryptocurrencies so that you can build a diversified portfolio.

Medium Risk Bitcoin Investment &#; HODL

&#;HODL&#; means &#;Hold On for Dear Life&#;. This is a popular phrase in the crypto world. It describes a long-term hold strategy. The idea is to buy Bitcoin right now, wherever the price is at, and &#; well &#; hold on for dear life! The Bitcoin price is likely to remain volatile. Crypto winters are the result of this sector-wide volatility, which mean that crypto prices slump for months at a time. The key to this strategy is to hold your Bitcoin stock throughout these crypto winters — and wait for the crypto Springs and Summers before you sell!

High Risk Bitcoin Investment &#; Margin and Leveraged Trading

Trading on margin (which means borrowing money to trade) is a classic high-risk way to trade Bitcoin. Using leveraged trades (available in some countries) is a way of doing margin trading. Leveraged trades are trades in which your gains or losses are amplified. Neither margin trading nor leveraged trading are remotely suitable for beginners — be in no doubt about that.

How To Invest in Bitcoin & Make Money &#; Example

If you had invested $1, in Bitcoin in , your investment would now be worth roughly $40 million.

More recently, Bitcoin rose in value by % between November and November  If you invested $ in Bitcoin now, and it experiences the same rate of price increase over the next year, your investment would be worth $ by March

When is the Best Time to Invest in Bitcoin?

In April , the price of Bitcoin peaked at $64k. It became the best-performing asset of the decade with an annualised return over % since its launch. So, right now, is Bitcoin a good investment? The answer is yes if it continues to average an annual return of %.

Unfortunately there is no magic price level which Bitcoin can reach and then rise in a predictable fashion. The best time to invest in Bitcoin is always now, for the simple reason that, without a Bitcoin investment, an investor cannot possibly benefit from any gains in price. Just always be sure to invest money in crypto that you can afford to lose!

How to Invest in Bitcoin in Canada &#; Tutorial

1. Choose a Broker or Exchange

Brokers like BitBuy are regulated and offer a wide range or cryptocurrencies to invest in and have low fees. If you&#;re new to investing in crypto, BitBuy makes it easy to get started and you can invest as little as $50 CAD.

2. Sign up with BitBuy

Head to BitBuy and click Sign Up to create a new account. Enter your email address to get started, then fill in your phone number and create a username and password for your account.

3. Verify Your Account

BitBuy will text you a one-time code to verify your mobile phone number. Enter this code to verify your account.

4. Deposit Funds

BitBuy lets you fund your account with cryptocurrency, an Interac e-transfer, or a bank wire. If you fund your account with crypto, there is no minimum deposit and no fee. For an Interac e-transfer, the minimum deposit is $50 and you&#;ll pay a % fee. For a bank wire, the minimum deposit is $20, and you&#;ll pay a % fee.

5. Buy Bitcoin with BitBuy

Now you&#;re ready to buy Bitcoin with BitBuy. Click on Express Trade to see the list of available cryptocurrencies, then click on Bitcoin. Enter the amount of Bitcoin you want to purchase in CAD. When you&#;re ready, click Buy Bitcoin to complete your purchase.

Buy Bitcoin with BitBuy

Cryptoassets are a highly volatile unregulated investment product. 

Conclusion

Should I invest in Bitcoin? It&#;s a question investors asked over a decade ago; and the answer turned out to be &#;yes, definitely!&#;. Whether that remains the case is uncertain. And that&#;s why it is important to only invest a small proportion of your total wealth in crypto, and also to spread your crypto investment around. Crypto prices tend to follow the price of Bitcoin, but it always best to diversify.

We have reviewed 5 Bitcoin vendors. We have highlighted Bitbuy for its specialist model of earning Bitcoin passively as you spend. We have looked at three exchanges — Coinbase, Binance and CEX — and we admire their choice of crypto as well as plentiful crypto financing options. If you are a stickler for regulation and a crypto beginner, we recommend though that you begin your Bitcoin journey with easy-to-use broker BitBuy.

BitBuy is trusted by more than , Canadians and makes the process of buying Bitcoin incredibly simple. You can make a deposit in CAD and buy Bitcoin in minutes using the Express Trade system. For Bitcoin trading, BitBuy also offers a more advanced trading platform with stop and limit orders. BitBuy charges just % for buying and selling Bitcoin, making it one of the most cost-effective crypto exchanges available in Canada today.

Ready to buy Bitcoin? Sign up with BitBuy to get started today!

Open a BitBuy Account

Cryptoassets are a highly volatile unregulated investment product. 

Frequently Asked Questions on Bitcoin Investment in Canada