Can I Buy Crypto With My Bank Account In Canada?

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In the crypto space today, there are many innovative ways to go about crypto trading. Exchange platforms have devised different ways of trading cryptocurrencies on their platform. All these have made it easy for crypto investors to have options when trading in crypto. Bitcoin is a cryptocurrency known to be the most popular crypto coin and Account In Canada that many have touted to replace fiat currency. 

How true and accurate this statement is will be seen shortly. There are various platforms where you can get the best bitcoin buy Canada. It is only fitting to have an option that links your bank account directly to the trading platform so you can pay for your crypto purchase. This article answers the question of whether you can trade crypto directly with your bank account.

Where to buy Bitcoin account in Canada with your bank account

Crypto is now a popular concept in Canada that has been made easy with innovative payment options that allow investors to trade from the comfort of wherever they are. Buying crypto in Canada is simple once you know what you are doing. When it comes to using your bank account to pay for any cryptocurrency you buy, crypto exchange platforms are the most suitable method. 

The exchange platforms usually offer the option of linking your bank account to the platform so you can buy and sell cryptocurrency directly with your bank account. So, to answer the question, Yes, you can buy crypto with your bank account. We will go over some popular crypto exchange platforms where you can use your bank account to trade cryptocurrency.

  • Coinberry- Account In Canada

Coinberry is one of the top crypto exchange platforms where you can trade cryptocurrencies by linking your bank accounts. The first crypto exchange platform to offer a 0% transaction fee is known as the first crypto exchange platform. 

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You can also link your bank account for trading on Coinberry with Wire transfer and Interac e-Transfer. Ensure your bank participates in Interac e-Transfer before you use it to deposit funds into your Coinberry app.

  • Bitbuy

This is a top Canadian crypto exchange platform that supports 7 cryptocurrencies on the platform. It also offers CAD crypto pairings. Bitbuy is regulated by the Financial Transactions and Report Analysis Centre of Canada (FINTRAC). You can make deposits via your bank account with a wire transfer or Interac e-Transfer. Moreover, the Interac e-Transfer is a funds transfer service between personal and business accounts at participating banks and other financial institutions. To use your bank account to trade on Bitcoin, you must confirm if your bank is a participating bank on the Interac e-Transfer system.

  • CoinSmart 

Coinsmart is another top crypto exchange platform that offers the option of paying for crypto directly from your bank account. You can do this through Wire transfer and Interac money Request. To use the Interac Money request, click on the Deposit tab on the top right-hand corner of the screen. 

Then you input the amount you want to deposit in your CoinSmart wallet and send a request for a deposit. You will then receive an Interac Money Request email from Simply Digital Technologies. All you need to do is accept the request from your personal bank accounts. This will automatically move money from your bank account into your CoinSmart wallet, and you are ready to go. 

For Wire transfer, click on the Wire Transfer option, then enter and confirm the amount you want to deposit. You will get a reference number and some other wire instructions to take to your bank branch to complete the transaction.

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Conclusion

It is possible to link your bank account with the crypto exchange platform you use and buy directly with your account. All you need to do is research the platform and familiarize yourself with its terms of use of the platform.

 

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