How to Buy Bitcoin (BTC) in Canada
Our beginner friendly guide covers:
Where and how to buy bitcoin in Canada
We provide step by step instructions for an easy bitcoin purchase.
Easy payment methods for buying bitcoin
Make small buys instantly. Conduct large purchases seamlessly.
How to secure your bitcoin
Bitcoin wallet recommendations to meet your specific needs
Getting Started
When buying bitcoin in Canada it's recommended to never leave your bitcoin on an exchange. Fortunately, you can buy bitcoin directly to your Bitcoin wallet with Beaver Bitcoin. Follow along with our step-by-step guides below.
Beaver Bitcoin offers three easy payment methods to ensure your bitcoin purchase goes smoothly.
Beaver Bitcoin Payment Methods
Payment Method
Interac e-transfer
Within Minutes
$150 - $10,000
1.5%
Bill Payment
2-3 business days
$5,000 - $250,000
1.5%
Wire Transfer
1 business day
$10,000 - $1M+
1.5% + $50
Speed
Within Minutes
2-3 business days
1 business day
Min - Max
$100 - $10,000
$5,000 - $250,000
$10,000 - $1M+
Fee
1.5%
1.5%
1.5% + $50
Buy Bitcoin Quickly
The quickest and easiest way to buy bitcoin in Canada is with Interac e-Transfer. This payment method is unmatched for purchases under $10,000.
1
Create a Beaver Bitcoin account
Sign up for Beaver Bitcoin with your email. As per Canadian regulations you'll need to submit a photo of a valid ID to confirm your identity. This step should only take a a minute or two.
2
Provide a Bitcoin wallet address
To complete your Beaver Bitcoin account you'll provide a Bitcoin wallet address. This is where we'll deliver your bitcoin to.
3
Begin the instant buy process
To buy bitcoin instantly, navigate to the Buy Bitcoin tab, and select Interac e-Transfer.
4
Transfer funds via Interac e-Transfer
After selecting Interac e-Transfer, you'll be given details for sending an etransfer to Beaver. Complete the etransfer via your online banking.
5
Select your bitcoin purchase amount
When completing your etransfer, the full amount of funds you send to Beaver will be exchanged to bitcoin (less a 1.5% fee). If you want to buy $100 worth of bitcoin, send $100. Simple.
6
Complete and confirm your bitcoin purchase
Upon receiving your etransfer, Beaver immediately converts your funds into bitcoin. After that, we deliver your bitcoin to your Bitcoin wallet address. You'll receive an email confirming your purchase details, and can view your purchase record in the Transactions tab.
FAQ
Do I need a Bitcoin wallet?
Yes. Beaver never custodies your bitcoin, and delivers your bitcoin directly to your wallet.
How much does it cost to buy bitcoin?
Currently it costs CA$ to buy 1 bitcoin.
Can I buy bitcoin with Interac e-Transfer?
You can buy bitcoin from Beaver using Interac E-Transfer, wire transfer or bill payment.
What is the minimum bitcoin buy amount?
The minimum purchase amount using Beaver Bitcoin is $150, equivalent to buying around BTC.
What are sats?
Sats are the smallest unit of bitcoin, short for 'satoshis', equal to a hundred millionth of a bitcoin. Denomination in sats is popular as it's easier to read. Currently, CA$100 buys BTC which is equal to sats.
How much is the fee to buy bitcoin?
Fees vary by exchange and can often be misleading. Beaver's fee is a low 1.5%, with no hidden surprises.
Can I buy bitcoin via Bill Payment?
Yes, Beaver Bitcoin's Bill Payment method is the easiest way to buy large amounts of bitcoin quickly from the comfort of your own home via your online banking app
Can I buy bitcoin with a wire transfer?
Yes. Wires typically settle same-day and are the preferred payment method for bitcoin purchases above $250K.
Large Bitcoin Purchases
With Beaver Plaid, you can easily buy large amounts of bitcoin in Canada. For these buys we receive your funds via Bill Payment or wire transfer. Below are steps to make a large bitcoin purchase with Beaver.
1
Create a Beaver Bitcoin account
Sign up for Beaver Bitcoin with your email. As per Canadian regulations you'll need to submit a photo of a valid ID to confirm your identity. This step should only take a a minute or two.
2
Provide a Bitcoin wallet address
To complete your Beaver Bitcoin account you'll provide a Bitcoin wallet address. This is where we'll deliver your bitcoin to.
3
Contact our concierge team
Send an email to plaid@beaverbitcoin.com or complete the short intake form located at beaverbitcoin.com/plaid. Someone from our team will respond right away. At this point you may still have questions and we're more than happy to answer them via email or on a call.
4
Proceed with your bitcoin purchase
In our email response, we will provide you with details for completing a seamless bank transfer using Bill Payment from the comfort of your own home via your online banking app. If needed, we can provide wire transfer details as an alternative payment method.
5
Complete your bank transfer
Complete your bank transfer using the details provided. Large bank transfers of this size typically take 2-3 business days to arrive in our account via Bill Payment, while same-day settlement can be expected for wires if sent in the morning.
6
Confirm your completed bitcoin purchase
Upon receiving your bank transfer, Beaver immediately converts your funds into bitcoin. After that, we deliver your bitcoin to your Bitcoin wallet address. You'll receive an email confirming your purchase details, and can view a record of your purchase in the Transactions tab at beaverbitcoin.com/transactions.
Bitcoin Wallet FAQ
What is a Bitcoin wallet?
A Bitcoin wallet is software or hardware that allows you to send, receive and secure your bitcoin on the Bitcoin network, and allows you to generate a Bitcoin address.
What's the easiest Bitcoin wallet for desktop PC?
Blockstream Green is a user friendly desktop Bitcoin wallet for PC, available to download from the Blockstream website.
What is a Bitcoin address?
A Bitcoin address is similar to an email address, but instead of using it for messages, a Bitcoin address allows you to send, receive and secure bitcoin.
What's the easiest Bitcoin wallet for Mac desktop?
Blockstream Green is a user friendly desktop Bitcoin wallet for Mac.
What's the easiest Bitcoin wallet for mobile?
BlueWallet is an easy Bitcoin wallet available for Android and iOS, perfect for beginners.
What is the best Bitcoin wallet?
Thebest Bitcoin walletfor you depends on your individual needs. But, Jade and Coldcard are two of the best Bitcoin hardware wallets around.
Best Bitcoin Wallets for Canadians
It's important to secure your bitcoin in self-custody using a Bitcoin wallet that meets your needs for security and ease of use.
Mobile
BlueWallet is an easy mobile wallet available for Android and iOS, perfect for beginners.
Get BlueWalletHardware
Blockstream's Jade is a secure and user friendly hardware wallet that connects to your computer via USB-C or Bluetooth.
Get JadeHardware
Coldcard is an ultra-secure, open source hardware wallet, made in Canada. Supports air-gapped transactions.
Get Coldcard
If you are brand new to the world of Bitcoin, a mobile Bitcoin wallet like BlueWallet is a great place to start. Blockstream Green, available for your desktop computer, is also a user-friendly option if you prefer to manage your bitcoin from your computer instead of a mobile device. For more security, Jade and Coldcard are fantastic hardware wallet options. If you are securing a significant amount of bitcoin, it is recommended that you use a hardware wallet.
About Bitcoin
In 2009, Bitcoin introduced the world to absolute digital scarcity through it's fixed supply of 21million coins. Coins that can be sent to anyone, anywhere in the world without an intermediary. Immune to the whims of central banks and politicians, Bitcoin stands as the best form of money the world has ever seen, and one of the great innovations of our time.
Resources