With prices now exceeding CAD$10,000, it’s safe to say that Bitcoin had made its mark in Canada. Finding the best way to buy bitcoin (BTC) quickly and hassle-free is driving investors to make comparisons to find the best bitcoin exchange in Canada. Given the volatility of bitcoin, making quick purchases when you see prices on the move is critical to getting the best rate for the cryptocurrency.
In order to buy and sell bitcoin quickly, you need to have funds on hand that can be ready to go through a crypto exchange at a moment’s notice. One such way to ensure this is buy using an Interac e-Transfer.What is an Interac e-Transfer?
An Interac e-Transfer allows you to use your email address and online access to your bank account to send money quickly and securely. Once you’ve made the request, your financial institution and the one you’re sending your money to will make the transfer rapidly.Positives of buying bitcoin with Interac
The most obvious strength of using Interac e-Transfers to buy bitcoin is that you can tie your credit or debit account directly to the bitcoin exchange you plan to use. A platform like CoinField favors using Interac or a wire transfer to fund your online wallet for purchasing bitcoin. A second positive comes in terms of time. Assuming you properly set up the transfer, your bank will take as little as 1-24 hours on a weekday to move the money from your account to your Coinfield wallet. If you authorize the transaction on the weekend, it will usually take 1-8 business hours on the next non-holiday work day. Third, you can move a lot of money at once if you’re seeking to make a big play into the bitcoin market. Coinfield allows its members to fund CAD$500 - CAD$10,000 per day with an Interac transfer.
Fourth, using Interac e-Transfers generally is the best way to buy bitcoin with lowest fees. Several crypto exchange platforms including Paxful list Interac as the method for buying bitcoin at the best price.How to use Interac to Buy bitcoin
There are six easy steps to buying bitcoin through a crypto
exchange like Coinfield using
Interac to buy crypto. Log onto your bank’s online or mobile
site and find the page for “Interac e-Transfer Send Money”. Select
the account you wish the funds to be transferred from. Add a
contact and enter the name of the business and a relevant email
address; this information should be readily available on the site
of the crypto exchange you are using.
Enter the amount of money you’ll be sending. On your crypto exchange dashboard page, you’ll find a unique reference code to use when you are applying money to your account. If your bank asks for additional security information regarding the e-Transfer, use the reference number and the name of your crypto exchange site preference. Once the crypto exchange receives notification, it will deposit the funds into your online wallet, clearing you to buy bitcoin in the amount of your choosing.
The moonGO Alternative If you do not have a Canadian bank account, one alternative is to use moonGO, a CoinField partner that allows you to buy and sell bitcoin from any country other than the US or US/UN sanctioned countries using any approved form of payment including fiat currency or other cryptocurrencies.