If the promise of profit is calling, it might be time to consider investing in Bitcoin and other forms of cryptocurrency known as Altcoins, here in Canada. While there are plenty of naysayers who are forecasting the doom of all kinds of cryptocurrency, there is more evidence to support its continued prosperity, rather than its demise.
If you know very little about cryptocurrencies, other than the real-life stories of accidental millionaires, then it’s time first to find out what it is and how it came about. Once you know how Bitcoin and Altcoin came to be so successful, it might open your eyes to the genuine possibility you too could have your slice of the pie. Once you reach this conclusion, we can then provide you with safe, secure platforms here in Canada that can help you become a cryptocurrency investor.
What are Bitcoins?
Bitcoin hit the market in 2009 as a decentralized digital currency. It has no figure of authority, no one controlling the purse strings, and exists purely online as a peer-to-peer currency. As of December 2017, Bitcoin is worth 18,423.63 Canadian Dollars, over $5,000 more than it was just a couple of weeks prior, and it’s expected to rise even further in 2018.
Not only is Bitcoin a form of currency that has made worldwide transactions far easier, but it’s also slowly being accepted as an everyday form of money. Over 100,000 merchants worldwide accept it as payment for goods and services, and it’s expected that, over time, it will become more commonplace in day-to-day life.
What are Altcoins?
Altcoins is a relatively new phrase that is being used to describe the many different forms of cryptocurrency that aren’t Bitcoin. As many platforms and digital currencies hit the market after Bitcoin to get a taste of this one currency’s success, it can be difficult to put a label on them. Essentially, altcoin means merely alternative coins. Anything that isn’t Bitcoin, such as Litecoin, Ethereum, Dash, Ripple, or Dodge, is an altcoin.
Where can I buy Bitcoins and Altcoins in Canada?
If you live in Canada and you’re looking to become a Bitcoin or Altcoin investor, there’s no better place to start than in your own backyard. While many overseas exchanges can more than cater to your investing requirements, choosing to use one closer to home can give you a better sense of safety, and peace of mind that if you need to, you can contact the platform for help. Choosing to use an investment or trading platform in Canada is also beneficial for if you wish to visit it in person. There are several cryptocurrency ATMs around Canada, as well as people you can go and visit to pay cash for coins.
Knowing that beginners to cryptocurrency investment might need a helping hand to choose the best platform, we’ve included a list of some of the most trustworthy exchanges below.
CoinSquare is considered one of Canada’s most trusted and used cryptocurrency exchanges. It’s easy to use, safe, offers low transaction fees and can be used to buy, sell and trade Bitcoin, Litecoin, Ethereum and even gold and silver. Whether you’re a seasoned trader or just a beginner, you will find CoinSquare’s platform is easy to use, with instructions on how to buy, sell and trade readily available.
If you wish to buy cryptocurrency with a credit card, Coin Base is a good option. While the fees are quite high at 3.99 percent per transaction, you’re able to enjoy the peace of mind on offer as your Bitcoins are delivered instantly. Coin Base also offers an incentive to buy your Bitcoins from them. For every 130 Canadian Dollars you spend, you get 13 dollars’ worth of Bitcoins for free.
There are many benefits associated with using Coin Base, which is why so many people prefer it. It offers high liquidity and buying limits, it’s easy to use, and it provides instant buy options with credit and debit cards.
Canadian Bitcoins is well known for providing investors with the opportunity to buy Bitcoins in various ways. You can use Interac Online, pay via online banking, opt for direct debit from your bank account, use a Flexepin voucher, send cash through the mail, or even drop into the exchange in Ottawa to pay with money or by debit in person.
Canadian Bitcoins enables you to spend as much as you want, including making transactions over $100,000. It provides various payment methods, all the while hosting an easy-to-use platform for seasoned investors and beginners.
Satoshi Counter is another excellent Canadian cryptocurrency exchange. You can spend up to 1 million dollars on Bitcoin, and can even buy them in person at the Bitcoin Embassy in Montreal. This platform is easy to use and is a great way to purchase large amounts of Bitcoins in Canada.
Buying Bitcoins and Altcoins in Canada has never been easier. There are so many safe online trading platforms that can give you the head start you need to become an affluent investor. Take the first step and purchase cryptocurrencies on any of the exchanges above. All it takes is one purchase to set you up for a lifetime of successful trading.