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Buying Bitcoin Cash (BCH) in Canada is now easier than ever, with trusted local and international exchanges offering seamless options for Canadian residents. If you're curious about how BCH differs from Bitcoin, check out our Bitcoin vs. Bitcoin Cash comparison.
This guide covers everything you need to know about purchasing BCH and other cryptocurrencies from any Canadian province.
Key Considerations Before Buying Bitcoin Cash in Canada
Before diving in, keep these factors in mind to ensure a smooth and informed purchase:
Market Conditions:
- Cryptocurrencies like BCH are highly volatile. Monitor price trends and buy during favorable market dips.
Fees and Limits:
- Compare transaction fees, deposit/withdrawal limits, and spreads across exchanges. Some platforms offer lower fees but may have trade-offs in liquidity.
Reputation and Security:
- Opt for platforms registered with FINTRAC (Canada’s financial regulatory body) and those with transparent reserve audits.
4 Simple Steps to Buy Bitcoin Cash (BCH)
Compare Crypto Exchanges
- Choose a reputable exchange that supports BCH (e.g., Bitbuy, Coinberry, Coinsquare).
Create an Account
- Sign up, verify your email, and complete KYC (ID verification) to comply with Canadian regulations.
Fund Your Account
- Deposit CAD via Interac e-Transfer, debit/credit card, or bank wire. Some exchanges accept crypto deposits.
Buy BCH
- Navigate to the BCH/CAD trading pair, place a market/limit order, and confirm your purchase.
Best Platforms to Buy Bitcoin Cash in Canada
1. Bitbuy
Why Choose Bitbuy?
- Canada’s first exchange to undergo reserve audits (annually since 2019).
- Supports 20+ cryptocurrencies with competitive fees.
- 👉 Get a $25 bonus on your first deposit.
2. Coinberry
Pros:
- User-friendly interface, 0.5% trading fee, and FINTRAC-registered.
- Supports BCH, BTC, ETH, and XRP.
- 👉 Start trading on Coinberry.
3. Coinsquare
Highlights:
- Robust security measures and transparent fee structure.
- Ideal for beginners and advanced traders.
4. Netcoins
Features:
- Intuitive platform with strong regulatory compliance.
- Offers a wide range of altcoins.
FAQs
Q: Is Bitcoin Cash legal in Canada?
A: Yes, BCH is legal. Ensure you use a FINTRAC-registered exchange.
Q: What’s the cheapest way to buy BCH?
A: Use platforms like Coinberry (0.5% fee) or fund your account via Interac to avoid high card-processing fees.
Q: Can I store BCH in a hardware wallet?
A: Absolutely! Transfer BCH from your exchange to wallets like Ledger or Trezor for added security.
Final Tips:
- Use Dollar-Cost Averaging (DCA) to mitigate volatility.
- Enable 2FA on your exchange account for extra protection.
This guide equips you to confidently navigate the Canadian BCH market. Happy investing! 🚀