How to Buy Bitcoin in Canada

As a result, we've been forced to find other ways to save.

We hired financial advisors and piled into stocks, bonds and real estate where our money grew with inflation and remained safe. Or so we thought, until 2008.

But that won't happen again, right?

Meanwhile, since 1971, the cost of housing in Canada has increased 2,840%².

University is up 1,186%².

And a carton of eggs has gone from $0.60 to $4.50, up a whopping 650%².

Not only does your portfolio need to keep up, so does your pay. Didn’t get a 6.8% raise in 2022? You got robbed, friend.

So let’s talk about Bitcoin.

Money for the internet. The first of it’s kind. A digital currency we can send to anyone, anywhere in the world. With a fixed and known supply of 21 million. Decentralized and without a ruler. No CEO or Prime Minister. No blocked payments, no frozen accounts.

Bitcoin is the result of 40 years of research and development across computer science, cryptography, mathematics, physics, philosophy, game theory, economics, and more.

Now we’re talking.

Just as the printing press was a seismic catalyst in separating religion from state, Bitcoin's promise is to unite the world around a single form of money we can all agree on, controlled by no one, that no government or bank can create more of.

It's only been 16 years since Bitcoin's inception and some people already hail Bitcoin as the most important innovation of our time (🙋‍♂️). Maybe all-time. Others say Bitcoin is what's going to allow humanity to become a Kardashev Type I civilization, exploring among the stars.

It might sound wild. But we're talking about money here. The thing we use to measure the fucking value of our time. It's literally the most important thing. Speaking of which..

Jack Dorsey has said about Bitcoin: "I don't think there is anything more important in my lifetime to work on."³

Two of Elon Musk's companies, SpaceX and Tesla, each hold around a billion dollars worth of Bitcoin on their balance sheets.⁴

The United States is serious about establishing a strategic Bitcoin reserve.⁵

Putin recently acknowledged no one can ban it.⁶

Hilary Clinton claims it has the power to undermine nations.⁷

BlackRock has recommended a 2% portfolio allocation toward bitcoin for investors⁸, while the Bitcoin ETFs launched in the US just over a year ago have shattered records across the board.⁹

Bitcoin is up 1,000% over the last 5 years.

An average annual return of 60% since 2020.

"But it's too volatile," grunts your father-in-law through a mouthful of mashed potatoes.

"That's true," you respond. "In the short term-"

"..but anyone who's held Bitcoin for four years or more has made out alright."

Your wife rolls her eyes.

Unbothered, you slowly pull a crinkled piece of paper from your pocket and lay it flat on the table. It's a graph of Bitcoin's 200-week moving average. The 200WMA. A smooth line, up and to the right only. Never down, not once.

"Look," you say calmly, "you just need to zoom out."

In 2009, the creator of Bitcoin, Satoshi Nakamoto said, "It might make sense just to get some, in case it catches on."

Dear Satoshi, we think it's catching on. Also, thank you for giving us the best form of money the world has ever seen.

With no apparent end to money printing and its resulting inflation in sight, it’s only natural to look for ways to preserve the value of your money.

Thankfully, we have Bitcoin. And as Canadians, we have plenty of options to buy bitcoin, including online platforms like Beaver, custodial exchanges, OTC desks, peer-to-peer platforms and physical ATMs.

What sets Beaver apart?

We prioritize non-custodial ownership—meaning only you control your Bitcoin. This is by far the most important thing. Also, we make it easy.

Whether you’re buying $150 or $150,000, this guide has you covered.

Oh right, the guide..!

So we care about you (and Bitcoin) but here’s what you should care about:

Beaver is non-custodial

By delivering directly to your Bitcoin wallet Beaver eliminates the custodial risk you’d otherwise end up with when buying bitcoin from a custodial exchange that holds your bitcoin by default. As I’m writing this, Bybit (custodial exchange) was just hacked for $1.5 billion!

Beaver is bitcoin-only

Not only that, custodial exchanges push all kinds of tokens, scams and NFTs on their users. For every “new coin announcement” there’s a failed coin they quietly delist and hope people just forget about it. And they don’t care if you get rugged, they make their money off commissions and trades.

And while we do plan to introduce the ability for you to easily sell bitcoin soon, we don’t promote trading and the majority of our users are buying and holding bitcoin for the long term.

Transparent pricing

The current price to buy 1 BTC in Canada from Beaver is CA$0.

Right now, we charge a flat fee of 1.5% which puts our price among the lowest in Canada. Soon, we’ll be moving to a transparent spread model and the bitcoin price you receive will be the same, if not a bit lower.

In every case, we’re up front about our pricing and show you the price you paid with email confirmations and a Transactions feed (beaverbitcoin.com/transactions when logged in) with your full purchase history.

Free delivery

I hate to keep harping on custodial exchanges (not really) but there’s almost always a catch. A lower bitcoin price? “That’ll be $20 CAD worth to withdraw your coins.”

And for KYC? “We just need to know where you were on the night of August 17th, 2023.”

In our opinion, it’s not worth it.

With Beaver, we pay the Bitcoin network fee for your delivery, every time. So comparatively, we offer free withdrawals.

There are few reasons to continue supporting these custodial casinos－choose non-custodial, Bitcoin-only. Choose Beaver.

Thanks for reading our guide on how to buy Bitcoin in Canada.