How to Buy Bitcoins in Canada
MyBTC.ca is a Canadian cryptocurrency exchange that helps you to buy and sell Bitcoin or Ether in seconds with Bank Wire, Interac e-Transfer, Visa or Mastercard Credit or Debit Card and Flexepin vouchers.
Most people use MyBTC.ca because it allows them to buy and sell Bitcoin or Ether within seconds using Canada's most convenient payment methods including our most popular Interac e-Transfer. We provide some of the best and most responsive customer support times the Canadian crypto exchange space has to offer.
Before creating MyBTC.ca, our CEO was operating in the Bitcoin space since 2014. He maintained a trusted 100% feedback score as a broker with 10,000+ trades on peer-to-peer platforms to over 3,000 individuals. Building on the success, he wanted to create a platform specifically for Canadians to better serve the buying needs in our country with fast and convenient payment methods.
Over the lifespan of MyBTC.ca, we have managed to become authorized merchants for Interac and Flexepin. Plus, we have stable banking with a Canadian financial institution where our funds are insured.
If you'd like to see what others are saying about our product and service, we encourage you to check out our customer reviews online:
Yes, we are regulated as an MSB (Money Service Business) and report to FINTRAC as part of our AML/KYC obligations. We can be located in the FINTRAC registry here. MSB number is M20844324
You’ll be prompted to confirm your email address and enter some basic information like name(s), address and date of birth.
After your account is open, you’ll then need to complete identity verification via our in-house Photo ID & Address verification, to access the payment options and add funds to your account for crypto purchase.
Once funds are within your account balance you’ll immediately be able to use them to create your order and receive your Bitcoin or Ether.
- You select your payment option from the Home or Login/Signup page, enter your phone number and press "TEXT ME" in the green box to initiate the first step in creating an account.
- Enter your email address and then click on the confirmation link sent to your email inbox.
- You’ll be prompted to confirm your email address and enter some basic information like name(s), address and date of birth.
- Answer a few final questions about your indented use of the account.
- Complete ID Verification.
- Fund your account balance with any featured payment method or sell some bitcoin to send CAD to your bank account.
- Complete your purchase for Bitcoin or Ether with your new account!
Watch this tutorial video:
Yes. Photo ID & Address verification requires you submit your ID to us online — submissions are usually approved within 1 hour.
You can complete identity verification Online directly with MyBTC.ca. If your name and address is automatically confirmed by our verification partners, you will be required to upload the following to complete online verification:
1. A clear close-up photo of your valid government issued photo ID in full colour on its own. Black and white copies and Health Cards are not accepted from users in provinces where it's prohibited by provincial legislation.
2. A clear photo of yourself holding your government issued photo ID along with a piece of paper that has a handwritten message which reads “MyBTC.ca ID Verification for Bitcoin Purchase” with today’s date.
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Interac e-Transfer is a convenient email-based method to send money directly from your bank account to MyBTC.ca as the recipient via your online or mobile banking. Almost all Canadian Banks and Credit Unions offer Interac e-Transfer. For the full list please see here: https://interac.ca/en/interac-e-transfer-consumer.html
After you have created your account profile, you'd complete any one method of identity verification, which will unlock access to the Interac e-Transfer payment instructions.
After you have sent the Interac e-Transfer using the instructions unique to you and your MyBTC.ca profile, it will take approximately 0-30 minutes for your bank and the Interac network to send the funds to us.
Once your Interac e-Transfer is received, it will be automatically deposited and your account subsequently funded. Once the funds have been added to your account balance you will receive an email notification advising you to create an order and instantly complete the transaction for your Bitcoin or Ether.
Watch this tutorial video:
Our clients can enjoy the speed of bank wire funding with amounts of $10,000 to $500,000 by clicking the red “Email Me” button within the bank wire section of the MyBTC.ca/fund page.
Once you’ve requested bank wire funding, you will be automatically emailed a set of questions you’ll need to answer for Compliance. The sooner you reply to this email, the faster we can get you down to the bank with the instructions you’ll need to execute the wire transfer.
Flexepin is a fast, secure and private method of buying Bitcoin or Ether by redeeming a prepaid voucher purchased with Cash or Debit at 1000's of sales outlets Canada - wide or online with debit card here: TopMeUp.ca. Once you have purchased your Flexepin voucher featuring a unique 16-digit code, you can redeem it immediately on MyBTC.ca for instant delivery of your crypto. Follow the steps here to pay with Flexepin.
To purchase Bitcoin or Ether using Flexepin with a $500 daily limit, you must first complete ID verification. Once you have completed verification you'll gain access to the account funding page where you can redeem your voucher, applying the value to your account balance. After your balance for each voucher you apply has been instantly funded, you'll be able to lock-in the current Bitcoin or Ether rate and complete your order.
| Payment Method | Minimum | Daily Max | Monthly Max |
|---|---|---|---|
| Interac e-Transfer | $30 | $25,000 | $300,000 |
| Bank Wire | $10,000 | $500,000 | $1,000,000 |
| Flexepin | $20 | $500 | $7,500 |
| Credit Card | $75 | $25,000 | N/A |
Fee Schedule for buying Bitcoin or Ether:
- Interac e-Transfer: 7.75% or $10.00 minimum, whichever is greater.
- Bank Wire: 4.75%.
- Flexepin: 9.75% or $5.00 minimum, whichever is greater.
- Credit Card: ~9.75%
- A small order fee may also apply, depending on the size of your transaction. See full fee schedule here.
Bitcoin or Ether are stored within a wallet. Here's a good article to help guide you:
Best Cryptocurrency Wallets of 2022: https://mybtc.ca/article/best-bitcoin-and-cryptocurrency-wallets-for-2022
There are many Bitcoin and Ether wallet providers to choose from. You are welcome to conduct your own research but here are a few you may want to consider: Exodus.io is quite popular app wallets while Trezor and Ledger Nano's are the most secure and reputable hardware wallets. You can find many other options on Bitcoin.org.
As the price of Bitcoin or Ether is in a constant state of flux, the Live Rate changes to match its current market value. Once you confirm you enter your SMS mobile PIN on the order page and click the "Checkout" button, your order and rate will be locked-in.
Yes. While all first-time transactions are held until manually verified for reasons of compliance and fraud prevention, once your first order is "Complete", all subsequent transactions are sent immediately.
After we send your Bitcoin or Ether they begin confirming on its Blockchain. The number of confirmations on the Blockchain each wallet provider requires before they add your crypto to your balance vary. In terms of time per confirmation, a good rule of thumb is 10 minutes per confirmation.
Yes, MyBTC.ca is running on dedicated hardware in one of the most secured Cloud Providers. All communications are encrypted with SSL and Cloudflare provides us with an additional layer of protection.
You can view Bitcoin (BTC) price and rate information displayed for the past 30 days on this chart https://mybtc.ca/chart/btc. You can also toggle to see the Ether (ETH) live price as well. Data on the chart is based on one hour intervals derived from price quotes and orders on MyBTC.ca.
Your account history can only be viewed if you are logged in. If you are logged out, you first need to log back in by verifying your phone number via SMS and then clicking on the confirmation link sent to email address you previously verified. Once you are logged in, you will want to look for the "History" section to observe your order and funding history. For faster navigation, here's a direct link.
Watch this tutorial video:
You can now sell your Bitcoin or Ether to us at MyBTC.ca. To start, Bitcoin auto-sell limits are $5 - $100,000 CAD per 24hrs.
Once your Bitcoin order reaches 2 confirmations on the blockchain, or your ETH has 12 confirmations on the Ethereum blockchain, its value is immediately converted to CAD for you to request a withdrawal Interac e-Transfer, Bank Wire, or loading funds to the new black Prepaid Visa Card. n.
Do you have Bitcoin to sell? If “yes”, navigate here to access your Bitcoin auto-sell address: MyBTC.ca/sell
Watch this tutorial video:
You can request to send yourself an Interac e-Transfer up to $5,000, a Prepaid Visa card loaded with up to $2,500 or a bank transfer for larger amounts from $20,000 to $50,000. The payout methods listed on the MyBTC.ca/withdraw page allow you to “View Instructions” for each by clicking the respective red buttons. You will then be given exact details regarding how to send yourself funds. Contact support and ask for more information regarding your withdrawal so we can help provide the solution that best fits.
| Method | Minimum | Daily Max |
|---|---|---|
| Interac e-Transfer | $20 | $20,000 |
| Bank Transfer | $20,000 | $100,000 |
| Prepaid Visa Card | $50 | $2,500 |
The MyBTC.ca Prepaid Visa card is an exciting payout method allows clients to withdraw funds immediately and offers a new way for Bitcoin and Ether sellers to lock in their profit and actualize their gains into Canadian dollars. Benefits to using the MyBTC.ca Prepaid Visa card include:
- Cashback rewards program
- Mobile app available through Google Play and Apple App Store
- Online wallet portal functions like a bank account with ability for you to Pay Bills, Interac e-Transfer and send funds to other Visa cards.
- Make purchases at millions of stores online and brick-and-mortar merchants worldwide
- Use ATMs to withdraw cash in local currency
Request and load your MyBTC.ca Prepaid Visa card with Canadian Dollars here.
For more information on obtaining your personal Prepaid Visa card, visit MyBTC.ca/withdraw or contact our industry leading customer support today.
Please email the MyBTC.ca helpdesk directly from the email address associated with your account to see if support can update your profile with your new number. Additional information may be requested to link your profile to your new number.
Yes. We accept account registrations and funds for both personal and business use. If you would like to verify your business for buying Bitcoin or Ether, please contact support and they will guide you through the requirements and process.
We know speed is important to you. Generally, we have your account funded within minutes upon arrival of your e-Transfer. In certain scenarios and rare circumstances, e-Transfer fundings may take up to 12 hours.
If 12 hours has passed and your account is not funded, there’s very likely a hold placed by your bank or Interac. To have the hold removed so that we can deposit your Interac e-Transfer, please call your bank to verify and have it released.
Yes! Thanks to our referral partnership with Banxa & Simplex, you can now buy Bitcoin and other popular cryptocurrencies using Visa or Mastercard credit and debit cards. Use this link to quickly navigate to the order entry page and request a quote for the amount of Bitcoin or other supported cryptocurrency you want to buy: https://mybtc.ca/buy-crypto-with-credit-card
For more information, navigate here and follow the steps the website guides you through.
Yes. You can buy other digital assets with credit or debit card through our referral partnership with Simplex or Banxa. Here's the order page to start your purchase of other cryptocurrencies: https://mybtc.ca/buy-crypto-with-credit-card
Most people buy Bitcoin and Ether from MyBTC.ca to then trade on other sites that offer swapping and exchanging between multiple cryptocurrencies. Our speed of delivery can help you get the Bitcoin and Ether you need, to trade for other digital assets, in a fast and expedited fashion.
Two-factor authentication (2FA), also known as two-step verification or dual factor authentication, is a security process where you enable an extra layer of account protection by mandating a secondary one-time password to access your account upon login. To enable 2FA on your MyBTC.ca account, visit the security section here.
Sorry, we are non-custodial exchange/broker that doesn't store your crypto. We strongly encourage you to download the wallet you have researched, trust and then upon buying Bitcoin or Ether — send directly to it.
Here's a good resource:
To export your entire funding, withdrawal and order history, navigate to the 'History' section or click here and then click ‘Export History’ in the bottom right hand corner of the respective ‘Fundings/Withdrawals’ and ‘Orders’ tables.
Watch this tutorial video:
I Want My Bitcoin!
Click a payment method to start your order.
Interac e-Transfer
Bank Wire
Credit or Debit Card
Flexepin Voucher