Topic: How and from where I can buy bitcoin. I live in Canada? (Read 332 times)

- Yes, why not. I gained (and gaining knowledge from the senior experienced members of this forum and it will be a crime if I am not transferring it to the juniors.


- Exactly, you can pick any single seller and open a trade request but make sure his reputation is good and the user is online (for faster trader process)


- Yes, Localbitcoins has automated escrow system so when you open a trade request to buy 1 Bitcoin then that amount is automatically deducted from seller's Localbitcoins account but not paid to you unless there is a payment confirmation from the seller side so seller has right to release those funds to you or open a dispute request if not received any payment.


- Exactly. You can directly deposit your funds in your localbitcoins wallet and you don't even have to buy from Localbitcoins to be a seller. You can offer multiple payment methods and choose your own profit margin (the rate will be adjusted in a real time according to your profit margin)


- To be honest, I was referring to the payment processors like Paypal where sender can revert the payment even after several weeks after sending it. I am not aware about the Local payment methods and policies of your country but generally Bank transfers are considered safe to use.


- Yes, it will increase your reputation but MENTION THE REASON FOR THE COPY TO AVOID MISUSE. Something like 'FOR LOCALBITCOINS VERIFICATION PURPOSE ONLY'. I am using Localbitcoins from last few years but I haven't uploaded my ID yet because I didn't find it necessary.



* Buy and sell bitcoins in Canada, with cash and online.

I am not aware of the KYC guidelines in other countries so have a look at it before opening a trade request for the higher amount.

I use ezBTC.ca and coinsquare.io to exchange CAD into BTC/ETH and vice versa.

You will be required to upload documentation for FINTRAC but I like their Interac e-transfer options.

I wrote a getting started trading guide for Canadians with Bitcoin if you want to check it out.

Thank you for your reply. I appreciate it.
So here what I want to do or thinking of doing.. I want to create an account to buy bitcoin, maybe I will hold it and maybe I will sell it later.
It is so confusing to me so far. Anyway I just signed up with Localbitcoins.com
I see (i think people name) listing the price of bitcoin they want to sell. 
So what should I do ? What knowledge I need to do that (buying or later selling bitcoins)
Thank you so much once again

Some of the trusted bitcoin sites are localbitcoin, coinbase, einstein  and so on.I was using localbitcoin website to trade my Bitcoin. It's the trusted one as compared to other. Now a days many websites are there to trade the bitcoin.Instead of buying a bitcoin you can trade a bitcoin. But for trading you need of more knowledge about it. In this forum itself you can gain huge knowledge about trading and with that knowledge you can trade bitcoin.

many exchangers out there that you can rely on to buy bitcoin. for example in perfect money. you can deposit some funds to perfect money then you transfer your money in perfect money to bebarapa exchanger. and now you can buy bitcoin with your dollar bill. you can also withdraw it as well.

Thank you so much for your reply Dudeperfect. I went and signed up with Localbicoin. I have the following questions if you do not mind please

1) I see sellers and buyers, does that mean this side basically allowing user to buy bitcoin from different users on the internet who are willing to sell their bitcoin? If yes then Localbicoin work as a middle man, right?

2) If I bought bitcoin from a seller, where my bitcoin are going to be saved? in Localbicoin? If yes, do they charge for this service?

3) If I have bought bitcoin from a seller, I can be a seller too later right? and if I sell something I can ask the buyer to deposit the money into my account right (bank acct if i am using Interac)

4) You mention to use irreversible payment. Not sure if I got the idea but as you mention later Inerac. Why is that, so people can not have access to my bank acct etc.  I mean it is saver?

5) Localbicoin.com is also asking to upload a copy of my ID. Is that safe to do so?

Sorry for my ignorant but I am learning and a bit of worry and scared. So I want to be more educated and  I thank you for my bottom heart for all your help.
Thanks

many users here from Canada so find seller here and ask him to pay cash (real) or use escrow service.

avoid exchange sites

I have been using Localbicoins for last few years and never had any issues with it so I would recommend you to try it but make sure that you are choosing the right/reputed trader and irreversible payment method while trading. Interac e-transfer is popular in Canada if I am not wrong.

* Buy and sell bitcoins in Canada, with cash and online.

I am not aware of the KYC guidelines in other countries so have a look at it before opening a trade request for the higher amount.

Thanks for your reply. I new to this. I was thinking to buy some and hold them. But also I would love to know how to trade because I might trade them too.
Now I am thinking, if these are exchanges, then where my account/money will be hold?
Are these exchanges give you an option to open acct and save your bitcoin there or just to buy?
I will try to go to Kraken site now to find out more about it. Thanks a lot.

You can try Kraken, read more here > https://support.kraken.com/hc/en-us/articles/206687267-How-do-I-add-a-CAD-withdrawal-account-Canada-only-
Is it to hold or trade? If you want to trade, you may want to look at another one, as Kraken can be slow sometimes, but otherwise it is very reliable?

If you can ignore the fees, go here, you can find a lot of online exchangers there: https://www.buybitcoinworldwide.com/canada/. If you can't, try to find an offline local exchanger in your country, the fees are not very high, very suitable for people who buy bitcoins at low value.

Hello
I would appreciate any advised/help on buying bitcoin. I tried coinbase.com but they are cancelling my orders. I gave up with coinbase. Any help please. Thank you so much.