Need help getting started with bitcoin in Canada.

[juvunits]

Would like to know the best site for Canadians to purchase bitcoin, preferably with a C.r.e.d.i.t card if that is possible.? Are there any sites that I can use that I do not have to wait to get approved, I can just sign up and buy right away? Also wondering what wallet would be best to use?

It seems like nowadays deposit and withdrawal options are getting slimmer and bitcoin is taking over. I used Quadriga a couple times in the past and I stopped using bitcoin. Quadriga is no longer, so wondering what else is out there.

Thanks

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Using a creedit card for buying bitcoin in Canada is virtually impossible as most of the banks and Capital One have blocked all crypto purchases. The good news is that you can use a V.isa D.ebit card at Coinbase and the rates are good, but limits are low. Personally, my limit is $500 a week from Coinbase.

The absolute easiest and most convenient way to buy bitcoin in Canada is to open a Shakepay account and fund it via Interac E-Transfer.
Download the Shakepay app from Google Play and get setup. You will need to get verified by Shakepay but the process is quick and once verified you will have no restrictions whatsoever.

Shakepay is great for buying/selling bitcoin. E-Transfer deposits are usually processed in minutes and withdrawals take approx half an hour but often take less. Shakepay is available 24/7 and is very convenient. As of this date I haven't found a better option in Canada for quick buy and sell than Shakepay.

https://play.google.com/store/apps/details?id=com.shaketh&hl=en_CA

Also, Coinberry and Bitbuy.ca are other options available to Canadians. I think you'll be very happy with any of the three I mentioned but Shakepay is definitely the current #1.

[juvunits]

Using a creedit card for buying bitcoin in Canada is virtually impossible as most of the banks and Capital One have blocked all crypto purchases. The good news is that you can use a V.isa D.ebit card at Coinbase and the rates are good, but limits are low. Personally, my limit is $500 a week from Coinbase.

The absolute easiest and most convenient way to buy bitcoin in Canada is to open a Shakepay account and fund it via Interac E-Transfer.
Download the Shakepay app from Google Play and get setup. You will need to get verified by Shakepay but the process is quick and once verified you will have no restrictions whatsoever.

Shakepay is great for buying/selling bitcoin. E-Transfer deposits are usually processed in minutes and withdrawals take approx half an hour but often take less. Shakepay is available 24/7 and is very convenient. As of this date I haven't found a better option in Canada for quick buy and sell than Shakepay.

https://play.google.com/store/apps/details?id=com.shaketh&hl=en_CA

Also, Coinberry and Bitbuy.ca are other options available to Canadians. I think you'll be very happy with any of the three I mentioned but Shakepay is definitely the current #1.

Thanks for the input. I'll check out shakepay. What is required for verification? How quick is it? 1 day? 2 day? What bank do you use to get a v.isa debit card?

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Thanks for the input. I'll check out shakepay. What is required for verification? How quick is it? 1 day? 2 day? What bank do you use to get a v.isa debit card?

It's been a while since I got verified but I think it takes a few hours during business hours, they do a soft credit check via Equifax to verify your identity.

I use an RBC V.isa branded debit card. Works on Coinbase.

[juvunits]

Thanks for the reply. I'm in the process of doing this now. Do you know if I am able to go from shakepay to sports book? Or do I have to have a wallet in between?

[juvunits]

It's been a while since I got verified but I think it takes a few hours during business hours, they do a soft credit check via Equifax to verify your identity.

I use an RBC V.isa branded debit card. Works on Coinbase.

Thanks for the reply. I'm in the process of doing this now. Am I able to go from shakepay to sportsbook. Or do I need a wallet in between?

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Shakepay to sportsbook is fine. This is not the USA.

[juvunits]

Shakepay to sportsbook is fine. This is not the USA.

Thanks for the help sir

[Matthew8]

I have done exactly this route (Shakepay and coinbase) and everything has worked out. Also there is a wallet called Bitvo where they are advertising a debit card . The debit card is not available yet but they set you up with a temp prepaid **** card if you want and they turn some of your btc to cash and put it on your pre paid **** card

[juvunits]

Shakepay to sportsbook is fine. This is not the USA.

Do you know how it's possible to lose $108 on a $600 bitxoin transaction? Shakepay to heritage. The time I bought the bitxoin to the time I transferred was right away and it did not fluctuate

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Do you know how it's possible to lose $108 on a $600 bitxoin transaction? Shakepay to heritage. The time I bought the bitxoin to the time I transferred was right away and it did not fluctuate

The problem was you transacted in Canadian Dollars but Heritage uses USD as the base currency, so your $600 CAD = $450 USD.

Nothing was lost. You bought bitcoin using Canadian Dollars at Shakepay.

You received the equivalent of $600 CAD in bitcoin.

Then you sent $600 CAD worth of bitcoin to Heritage and your account was credited $450 USD plus a bonus.

You are good to go.

[eastvan09]

This is useful. I will try Shakepay to get Bitcoin. My first time.

[biccie]

There are several ways to use bitcoin betting sites online. you can also use VPN to bypass security or location issue.

[Soxsfan9]

+1 for Shakepay.

Went from my bitcoin wallet to shakepay to interac in an afternoon.

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+1 for Shakepay.

Went from my bitcoin wallet to shakepay to interac in an afternoon.

Shakepay is now likely the most popular way for Canadian crypto enthusiasts to buy and sell bitcoin.

Shakepay is not an exchange as they only offer bitcoin and etherium but it is a proven way to buy or sell your coin quickly in Canada.

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Kraken Canada Post In-Person Cash (and Debit) CAD deposits

Canadians can fund their Kraken accounts with cash deposits at Canada Post locations. Max is $500 per transaction.

Fees: Per transaction, Canada Post charges a fee of 3.95 CAD to send the deposit and Kraken charges a fee of 1.25 CAD + 0.25% to receive the deposit.
Daily deposit max via this method is $7500.

Basically you get a QR code from Kraken (when logged in) and bring the code with you to a Canada Post location. Funds are credited in 10 minutes.

For instructions read this:

https://support.kraken.com/hc/en-us/articles/360027825511-Canada-Post-In-Person-Cash-and-Debit-CAD-deposits

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Just a heads up. Kraken and Shakepay are must haves for Canadians using bitcoin.

Both are solid, reliable and useful for most crypto transactions.

[pretentiousGuy]

Just a heads up. Kraken and Shakepay are must haves for Canadians using bitcoin.

Both are solid, reliable and useful for most crypto transactions.

Is there some way to show the crypto came from sportsbooks? For potential issues with CRA or banks. I've never used bitcoin.

Also have you had no issue with banks blocking the e-transfers/wires? In rare cases the banks seem to freeze or terminate your account for transactions with crypto exchanges (wtf).

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Is there some way to show the crypto came from sportsbooks? For potential issues with CRA or banks. I've never used bitcoin.

Also have you had no issue with banks blocking the e-transfers/wires? In rare cases the banks seem to freeze or terminate your account for transactions with crypto exchanges (wtf).

Well you have no way of knowing if you received bitcoin from a sportsbook directly or from a 3rd party processor just by looking at the bitcoin address or transaction ID.


I've never had an e-transfer held or canceled by my bank.

I've heard stories of people having accts closed at some of the big 5 banks. ie RBC, TD & Scotiabank. The way around this is to open an acct at a credit union or online bank. I use motusbank (owned & operated by Meridian credit union) and have had zero issues. Free interac etransfers too!

https://www.motusbank.ca/

EQ bank also an online only bank (no branches or branded ATM's)

https://www.eqbank.ca/index

[pretentiousGuy]

Might just ask a tax attorney.