How to buy cryptocurrency in Canada according to Reddit

If the internet wants to sound off about something, it heads to Twitter to do so. If it wants to commiserate or celebrate with loved ones, it goes to Facebook. If it wants to share pictures of something, that’s obviously a job for Instagram. But when the Internet really wants to know about something - in detail and ideally about something a little bit niche - then it heads to Reddit. There’s a subreddit for anything and everything, and that’s barely an exaggeration - so of course, there are subreddits dedicated to crypto.

Indeed, there is at least one sub that is dedicated specifically to crypto in Canada, so if you’re unsure about how to get to grips with this thorny subject, you might be best advised to subscribe to a few such subs. You can ask your own questions, or wait for someone else to pose the question you wanted to ask (but were afraid of getting flamed) - or you can look back through the sub’s history and see if someone has asked it before. Usually, they will have. And if it’s along the lines of “How do I buy crypto in Canada”, it has definitely been asked. So what do the netizens of Reddit have to say on this topic?

First, where do you buy crypto in Canada?

As you might have expected, a question as broad as this leads to some debate on the subreddit r/CryptoCurrency. If there is any consensus, the suggestion seems to be that the best place for a beginner to go is crypto.com. Users are generally of the opinion that its spreads could be a lot better, but that it has a solid range of coins and is the most user-friendly exchange. There is also a lot of love for Shakepay, which has low-cost entry and is fee-free, while Coinbase comes in for more criticism than compliments.

It’s always worth reading down the comments, because while the top comment may have been upvoted the most, a comment further down the thread may be more useful to you if you’re buying crypto for a specific purpose. Knowing that some exchanges won’t work with betting sites is important if you’re buying coins to bet on Cloudbet or another crypto casino.

How do you buy crypto in Canada?

Ask this question on Reddit, and the answer will often still be about where you should buy crypto. Nonetheless, there are some more illuminating answers. One thing that you are liable to find is that there are a lot of brokers who will prevent you from buying crypto in a certain way from a certain place. Some exchanges are banned in certain places - you can’t use Binance in Ontario, for example - while other places won’t allow you to use a credit card to buy crypto coins.

The consensus about buying crypto in Canada is that you should look for an exchange that readily accepts e-transfers - Shakepay tends to be talked up in r/BitcoinBeginners - and use a highly trusted partner for the transfer. Of the options available, Interac is a favorite among Redditors. There is also a strong band of support in favor of using a Bitcoin ATM if you’re looking to buy BTC. Using an ATM radar site, you should be able to find a Bitcoin ATM near you which allows you to put cash in and receive a ticket that can be redeemed for the equivalent amount of Bitcoin.