Choosing the right broker from which to buy bitcoin can be very difficult. With so many options out there the process can be very overwhelming especially if you are a first-time buyer. They all have their pros and cons, they all have different fees that they take and so on, so there is definitely a lot to go through before you make a final choice. To help you narrow things down, we have put a few of the best brokers to use in Canada.
This is a P2P bitcoin exchange that is also a multiset wallet and it is a brokering company that currently offers its services only in the US and Canada. One of the best things about this brokering company is that the buyers of the bitcoins pay 0% in fees, which is not something that is very common in the world of bitcoin purchasing. It has decentralized exchange, that is also a pro, as well as a very clean interface that is easy to use, even for first-time buyers. The one bad side is that the site has very low liquidity, at least for now.
This is an escrow service that amongst other things helps to match bitcoin buyer and sellers. The most common method of payment is via a cash deposit, however users may advertise trades for whichever payment method they prefer to use. Buying bitcoins through an in-person meeting can be very dangerous, but when LocalBitcoins facilitate it, it is not only safe but also one of the safest and most private ways through which to buy bitcoins in any country, including Canada. Another really great perk is that the in-person trades require no personal information whatsoever, however, you do need to be aware of scams and always make sure to follow the rules. A drawback is the fact that it can be hard to buy larger amount of bitcoins compared to large exchanges.
This is one of the largest bitcoin exchanges in the US and users can fund their accounts via bank transfer, bank wire or SEPA. This broker also offers low prices and low fees, which is great, however their interface can prove a bit confusing and initially more difficult to navigate, especially for first-time users. As we mentioned, it has the lowest fees available and it is possible to purchase bitcoins for 0% fees, but the interface can be a drawback and if you want to send bitcoins directly from GDAX to any site that is legally-questionable, that may result with them closing your site down.
These are only a few examples of where you can go and what you can expect when you want to buy bitcoin in Canada. The process can be more or less expensive, it can take longer or faster, and depending on what you are looking for and what you want, it is up to you to go through your options and make the most educated decision that you can, and hopefully this article will help you with that.