What Are Some Bitcoin Exchanges In Canada?
Every bitcoin exchange is different and caters to a specific market and location. There is no canned approach to an exchange because currency values fluctuate as much as traders also tend to speculate in different terms.
Bitcoin exchanges serve as a digital or web marketplace for bitcoin transactions. This is the place where people buy and sell in different currencies with the use of bitcoin. Bitcoins can be exchanged for other cryptocurrencies like Ethereum or for fiat money. In this case, the bitcoin exchange acts as the middleman for the brokers and traders of these digital tokens.
The first step to trading or investing is to buy bitcoins from bitcoin exchanges. One factor to consider when using bitcoins or if you intend to buy and sell is location. If you are in Canada, then there are specific bitcoin exchanges that cater to a particular location.
In Canada, bitcoin and ethereum exchanges have been pretty competitive and robust in order to land on top of the food chain. Here are some of the top bitcoin exchanges in Canada:
. This is considered to be the leader and largest bitcoin exchange in Canada. This exchange is in Vancouver and is the most trusted exchange in Canada to date. Their employees are well-trained and certified as Bitcoin Certified Professional with license numbers issued by Crypto Currency Certification Consortium. This is the best Canadian exchange in terms of security, customer service, and trading volume. They accept clients from different countries with the exception of United States. Exchange fees range at 0.20% to 0.50 %; respectively.
. This is a very secure exchange owned by Quebex Fintech Inc. Canadian talents were employed in the development of the site to meet certain government standards and requirement for bitcoin exchanges to operate. They are also strict and pre-screen users. Only Candadian citizens are allowed to transact, so foreign passports are not allowed to register. Bitcoin prices are much lower compared to other sites. With the verification policy in place starting 2016, there had been no records of fraudulent transactions since.
. This digital marketplace allows you to transact directly with buyers and seller while the platform holds your funds in escrow. This provides security for both sides because the bitcoins would only be released once paid. In case the seller would hold on to the funds and refuse to release it, then the buyer is free to file a dispute and LocalBitcoins will move to resolve the issue. They have variety of payment methods available such as PayPal, bank or wire transfers, Western Union, and Interac e-transfers.
. This is considered as Quebec’s very first digital cryptocurrency exchange. Established in 2013, the platform is regarded to trusted and reliable due to its 2-factor authentication system that requires its members to enter their PIN and passwords to trade. Current trading fees are low at only 1%. They accept bills payment, wire transfers, cash, electronic funds transfer, pre-authorized debit, litecoin, feathercoin, and bitcoin.
The competition of exchanges in the Canadian market is beneficial to clients because of the improvements they are putting in place in order to reach the top dog mark. By default, QuadrigaCX leads the pack but in this race, anything can happen in a span of years.