Buy Bitcoin Calgary 2023
Making Crypto Simple
Bitcoin has been on the bull run for some time now, attracting investors for a variety of reasons. Some perceive it as the currency of the future and are racing to purchase it now, before it becomes even more valuable, while others value the technology behind cryptocurrencies, since it’s decentralized and more private than traditional payment systems.
To get you started, we have prepared this guide on buying Bitcoin in Calgary. Additionally, we recommend that you check out our How to Buy Bitcoin in Canada article to get more in-depth insights into buying Bitcoin in Canada.
How to Buy Bitcoin in Calgary
When it comes to buying Bitcoin in Canada, there are many available options. In this guide, we’ll present you with the most popular ways to buy Bitcoin in Calgary.
- Buy Bitcoin on Cryptocurrency Exchanges
- Buy Bitcoin with Cash (via an OTC broker, prepaid vouchers, and bank wire )
- Buy Bitcoin from a Bitcoin ATM
Buy Bitcoin on a Cryptocurrency Exchange
Cryptocurrency exchanges are trading platforms that allow users to trade Bitcoin and other cryptocurrencies for digital and fiat currencies. These platforms are the best place to buy Bitcoin, regardless of whether you’re in Canada or abroad.
Before we proceed to show you our best exchanges, here’s a step-by-step breakdown on buying cryptocurrency via crypto platforms.
- Open an account;
- Activate two-factor authentication;
- Verify your account;
- Deposit CAD;
- Enter the amount of BTC you want to buy.
Our team has unanimously decided that Bitbuy is Canada’s best cryptocurrency exchange. The exchange has fair trading fees, excellent customer support, and provides both beginner and advanced trading interfaces, ensuring that no trader feels left behind.
NDAX is another Canadian exchange located out of Calgary. The exchange provides various methods to fund your trading account including Interac, direct wire transfer, bank transfer, debit card, and credit card.
Another Canadian exchange that we suggest is Coinberry. The exchange supports leading crypto tokens like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), and Ripple (XRP), and provides excellent features and services.
So far, we’ve looked at some of the best Canadian exchanges. Other popular international exchanges include Kraken, Coinbase, Binance, and Coinmama.
If you feel like you need more information regarding the exchanges’ various features, security, fees, etc, please check out our Best Cryptocurrency Exchanges in Canada guide.
Buy Bitcoin with Cash
If you are looking for a suitable way to purchase Bitcoin with cash, we advise you to take a look at the following three options:
One way you can purchase Bitcoin with cash is through Flexepin vouchers in-person in shops all over Canada. Some places that sell Flexepin cash vouchers are Canadian gas stations, markets, and convenience stores. This is a very safe, hassle-free payment, since it’s prepaid, and the chance of having your banking information exposed online is non-existent.
Bank wire is another convenient method to purchase Bitcoin with cash. Bitbuy is one of the exchanges that offer direct bank wire transfers. Some of the benefits Bitbuy provides are speed, scalability, and liquidity on large volume orders through its OTC desk. To start buying, open an account and visit one of your local bank branches to place funds into your exchange account. After your account has been verified, visit the bank again, and send the bank wire to the exchange.
Purchasing a large volume of Bitcoin demands a different approach than regular day-to-day exchange, and it’s best to do it through OTC brokers and their OTC desks.
These platforms offer personalized and anonymous services, high liquidity, a great number of purchasing offers, and better conversion rates. Moreover, OTC brokers offer personal assistance when trading at large volumes and protection from slippage. Slippage occurs when big orders can’t find competent counterparts at the current price. As a result, the order is divided into several smaller orders at different prices, normally more expensive than expected.
Bitbuy and Kraken are some exchanges that also offer OTC services.
Buy Bitcoin from a Bitcoin ATM
Purchasing Bitcoin from a Bitcoin ATM or BATM is simple, easy, and more private than other BTC purchase methods. So, what are BATMs? Similar to a traditional ATM, a BATM is a gate through which users can engage in a financial transaction.
Contrary to other payment methods, the purchasing process is quite simple: either deposit cash into the BATM or use your debit card/credit card and provide your QR code. Even though most BATMs are widespread in big cities like Vancouver, Montreal, and Toronto, according to Coin ATM Radar, the total number of BATMs in and around Calgary is 118.
Unfortunately, the convenience of Bitcoin machines comes with higher transaction fees. You’ll be charged transaction fees of up to 8%, which is much more compared to other purchasing methods.
Frequently Asked Questions
We suggest Bitbuy or NDAX, as they are authorized by the Financial Transactions and Report Analysis Centre of Canada (FINTRAC). Moreover, the exchanges provide two-factor authentication, alternative withdrawal address whitelist, and handbooks on how clients can increase the safety of their own accounts.
Cryptocurrency exchanges are our most recommended options for purchasing crypto in Alberta. The process is fast, easy, and customer-focused. All in all, you can select an exchange that best caters to your investment needs. One way is to select a fiat to crypto exchange in case you intend on purchasing cryptocurrencies with fiat currencies. If not, you can find numerous crypto-to-crypto exchanges if you’re more willing to trade digital coins.
Binance is the cheapest exchange providing the lowest fees on the market, and they start at 0.1%.