I’ll be honest. When I first started in crypto I was extremely skeptical of everything.
I wanted to get as much free Bitcoin and crypto as I could because I am cheap and I didn’t want to risk any of my money. Getting free bonuses made things feel less scary.
Based on the last few years of my experience in crypto here is what I would do again to get as much free Bitcoin as possible.
Kraken is one of the oldest, largest, and most trusted crypto exchanges in the crypto industry. They have a stellar reputation for security. I have been a Kraken customer for many years now.
All the screenshots in this Kraken Review are from my personal accounts and apps. I stake Ethereum on Kraken and have used it for the occasional crypto-to-crypto altcoin trade.
My Conclusion: Kraken is best and recommended for traders. Trusted exchange with a good reputation. Good UI design. The Kraken Pro website and app are fully featured for traders and it has been my go-to exchange for trading since the FTX implosion.
If you want a simple way to buy a small amount of Bitcoin I would probably recommend a different exchange that is simpler to use like Shakepay or Newton.
These apps and crypto exchange platforms offer Canadians staking of crypto assets:
The easiest way to fund/send money to Coinbase in Canada is with crypto. This means you need a Canadian crypto exchange to convert your loonies and toonies into Bitcoin.
Steps to Buy Bitcoin on Shakepay and Send it to Coinbase:
Polygon (Previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Covert MATIC to CAD
Get $100 bonus when you download the Kraken app, fund $200, and trade $200 in the first 30 days. Read my Kraken Review
Is it possible to buy Bitcoin in Canada with PayPal?
NO.
Coinbase claims Canadians and makes fiat withdrawals to Paypal. I’ however have not been able to get this to work. And based on what I have read on Reddit and Twitter — not many other Canadians have got PayPal to work either.
Interac e-Transfer in Canada and using a Canadian exchange to convert dollars to crypto is the easiest, fastest, lowest fee way that works with the banks in Canada. Wire transfers for larger amounts.
If you are Canadian and tried to use Coinbase, you will quickly realize it’s not as simple to use for us.
It’s hard to fund and deposit because Coinbase does not accept eTransfers. The Paypal withdraw featured didn’t work for me. Not all the coins listed on Coinbase are available to Canadians. For this reason, it is best to use a Canadian crypto exchange.
In my opinion, Newton is the most similar comparison to Coinbase for Canadians. Make instant deposits and withdrawals with eTransfer. The simple easy-to-use design makes buying/selling crypto simple.
Newton – Best all-around exchange. Low fees, easy to use, and lots of altcoins to buy and sell. It is recommended for beginners.
Choosing the best crypto exchange between Newton vs NDAX will ultimately depend on a few factors. Mainly how much you want to buy/sell and if you want to trade or just buy and hold. I have used both of these exchanges for more than 4 years now and this is what I would recommend and why.
TL;DR Summary
Shakepay makes money on the spread between the price they buy and sell crypto to their customers. This spread rate is usually ~1 to 2%.
nooxli is a simple guide for beginners to get started with cryptocurrency in Canada. We also review and compare crypto exchanges and wallets.
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