(FinancialPress) — We’ve all seen the news, Bitcoin is everywhere in 2018. People can’t seem to stop talking about the potential uses and how it could affect the future of our Canadian economy. One thing is for sure, the technology is exciting and Bitcoin and other cryptocurrencies aren’t going anywhere. I was getting sick of watching on the sidelines, so I decided to get in on the action.
Unfortunately, getting your hands on Bitcoin or other cryptocurrency in Canada can be frustratingly difficult. Long wait times to get approved and bad customer service are common themes that are frustrating Canadians looking to get involved.
For my first purchase, I decided to try Bitbuy.ca after a friend had told me about her positive experience.
Signing up was incredibly easy. I verified my email and uploaded 3 quick photos. A picture of my ID, a picture of me holding my ID, and a photo of a piece of mail proving my address. The site explains these documents are necessary for them to maintain a safe platform for all Canadians.
Within hours I received a call from Jeff, a Bitbuy service rep that confirmed my account was approved and welcomed me to the platform. Jeff walked me through the various funding methods that were available to me. I found this very helpful and helped me build a level of trust with the platform and the company.
Funding my account was just as easy, as the site offers four simple methods. Bitbuy doesn’t charge any deposit fees, while other platforms can charge up to 10% depending on your funding method.
I received a notification to my email once my funds had hit my account. I logged back in and made my first purchase by clicking one button. I am now the proud owner of 0.05 Bitcoin!
Little did I know, you can actually buy any denomination of cryptocurrency. Bitbuy supports transactions as little at $50, and offer concierge service on larger transactions up to $500,000.
After you complete a purchase on Bitbuy, you can easily withdraw your coins and send them to an external wallet, exchange or merchant at a click of a button. Or, hold them in your account and sell your coins back into CAD whenever you want.
The Bitbuy support team is available at every step along the way, and even has a toll-free number that can be called (1-888-770-COIN).
BitBuy was a great experience for me, and I think it will be for you as well.
UPDATE: The folks at Bitbuy.ca are offering 20% off transaction fees for ALL ACCOUNT transactions to anyone who signs up using the link below. Not just a sign-up offer, it locks in your account at a lower rate level!
Disclaimer: Financial Press has partnered with Bitbuy.ca to provide this post. Financial Press or Bitbuy.ca are not advising on any type of investment, and the purpose of this post is to inform users on the services offered by Bitbuy.ca.