How to Buy Bitcoin
Netcoins is the easiest, most trusted way to buy bitcoin in Canada.
“Bitcoin is the oldest and most popular cryptocurrency. It is often compared to gold.”
Bitcoin was created to offer a “peer-to-peer digital cash system” whereby two parties can transact directly without having to go through a financial institution. This important trait of bitcoin is called decentralization. Bitcoin is often compared to gold because of its limited supply and its potential as a store of value.
It does have some distinct differences from your conventional dollars like Euros, USD, and CAD though. It exists only virtually and unlike traditional money that can be printed constantly, there is a limited supply of bitcoin – 21 million to be exact, which helps to ensure true scarcity.
Buy bitcoin in 3 steps
Create an Account
Provide some personal details and get verified in minutes through our automated KYC process.
Fund (No Fees)
Fund your account with a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.
Buy and sell as little as $10, or up to $10 million with no slippage due to our deep liquidity.
Rapid Transaction Times
0% Funding Fees
Free Cash Withdrawals
Fund and withdraw quickly. Buy and sell instantly. No more waiting days to get your digital currency.
Fastest Industry Verification
Get verified at lightning speed with our automated KYC process. Get help from our support agents if needed.
Top Rated Support
Our support team is present over email, phone, and live chat to answer all your questions clearly and quickly.
Secure Canadian Crypto Platform
Publicly Traded Company
How much bitcoin can I buy?
You don’t need to buy 1 entire Bitcoin to get started!
You can buy fractions of a Bitcoin. In fact, the smallest possible unit of BTC is called a satoshi (sats for short) and is equivalent to 0.00000001 BTC (8 decimal places). Many beginners start their Bitcoin journey by stacking sats.
You can start as small as $10, or invest up to $10 million with Netcoins.
Why buy bitcoin?
Bitcoin gives control back to the people. In a traditional (centralized) money system, only the government and people of great power get to control the supply and worth of money.
The fact that it’s a new asset class is also exciting. You’ll find that a lot of people buy bitcoin for investment purposes and as an alternative to hard assets like gold. If you had purchased bitcoin at the time of it’s launch, your return of investment would have been over 6,000% in 2020.
Bitcoin is also great for online payments because of the low fees and its ability to go across borders quickly.
Bitcoin can be bought in fractions, the smallest unit being called a satoshi. That is one hundred millionth of a bitcoin (0.00000001). This allows for micro-transactions and allow investors to start small.
The number of new bitcoins created every 10 minutes will decrease at every halving until the maximum of 21 million is reached. This is programmed in its algorithm.
Bitcoin transactions cannot be reversed, unlike electronic fiat transactions. This also means that transactions that have been recorded on the network cannot be tampered with or modified. It’s on the blockchain for all to see!
Frequently Asked Questions
Why buy bitcoin?
Bitcoin is a great way for investors to diversify their portfolio by having non-traditional assets mixed in with traditional assets.
People invest in bitcoin for three main reasons:
- They believe it’s the future of money
- It’s potential as a store of value
- As a hedge against inflation
Bitcoin has actually been the best performing asset over the last 10 years, outperforming the S&P500. Even major institutions and corporations, like Tesla have invested in bitcoin.
Are there any risks involved if i buy bitcoin?
All forms of investments carry with them an inherent level of risk so you should never invest more than you’re willing or ready to lose.
Cryptocurrencies like bitcoin are known to be volatile and the price fluctuates quite a bit on a day to day basis. What’s important to understand as well is to zoom out and look at the bigger picture.
If you do buy bitcoin, also remember to properly secure your account with Two Factor Authentication and follow security best practices!
How much bitcoin should i buy?
A common misconception is that you have to buy 1 entire bitcoin, but you can actually buy fractions of bitcoin. You can start off with as little as $10, or invest a certain % of your wealth.
Many beginners start off by dollar cost averaging in, which is the practice of putting in a set amount of money towards bitcoin in regular intervals (for example $100 every month).
Why is KYC (Verification) required?
KYC is a process that allows us to verify the identity of our customers, as per Canadian regulations.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.
If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in Canada.
How can I fund my account?
Your Netcoins account can be funded with a cryptocurrency deposit, Interac e-Transfer, online bill payment, or a bank wire transfer. There are no funding fees imposed by us.
Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy bitcoin in Canada.
Can I send my crypto to an external wallet?
Yes, you can either keep a crypto balance within your Netcoins account or withdraw it into your own external wallet. While FIAT withdrawals are free, there is a small withdrawal fee associated with crypto withdrawals.