Canadian Bitcoin Exchange - To Purchase Bitcoins

[BitTechNewbie]

Hi Everyone,

I am looking to purchase bitcoins from a Canadian Bitcoin exchange (I think I am using the term correctly). What I am finding is that when I search on Google as of today the cost of a Bitcoin is $7,419.73 on Google. But when I go to different exchanges the prices is different.

https://www.canadianbitcoins.com  cost to purchase is $8,009.23
https://digatrade.com/                   cost to purchase is $7,451.33

...etc

Why are the exchanges so different?

What is the best way to purchase Canadian Bitcoins at the current market value and not have to pay inflated prices from some of these exchanges? I know I will have to purchase from a Canadian Bitcoin exchange I just don't think it's fair to pay close to $600 for the CanadianBitcoins to purchase bitcoins for example.

Thank you in advance. 

[mk4]

Why not just use Coinbase instead? Those sites you listed are obviously overpricing their bitcoin by a lot. Or maybe try out https://localbitcoins.com. Just select Canada as your country. Not sure about the prices though.

Also, "What is the best way to purchase Canadian Bitcoins". Really? Canadian bitcoins? LOL

[BitTechNewbie]

Why not just use Coinbase instead? Those sites you listed are obviously overpricing their bitcoin by a lot. Or maybe try out https://localbitcoins.com. Just select Canada as your country. Not sure about the prices though.

Also, "What is the best way to purchase Canadian Bitcoins". Really? Canadian bitcoins? LOL

Coinbase does not let Canadian's sell their Bitcoins and they do not provide support for Canadians.


Sorry I am not sure why that is so funny about asking "What is the best way to purchase Canadian Bitcoins? Did I say that incorrectly? I wanted to be specific because when I mention purchasing Bitcoins to other people, they tend to send me to American websites that do not support Canadians. Like Coinbase.

[OmegaStarScream]

Why necessarily a Canadian exchange? If Coinbase is not suitable then you could check: CoinMama, CoinCorner, Kraken. I also know that Canada have a lot of BitAccess ATMs, you could use them If you find that fees are not that high.

[BitTechNewbie]

Why necessarily a Canadian exchange? If Coinbase is not suitable then you could check: CoinMama, CoinCorner, Kraken. I also know that Canada have a lot of BitAccess ATMs, you could use them If you find that fees are not that high.

The reason for a Canadian exchange is so I don't have to pay fees for exchanging CDN to the currency I am purchasing in, for example say USD, and then pay for the Bitcoin purchase.

I am just trying to stay away from adding on more fees. 

[mk4]

Why not just use Coinbase instead? Those sites you listed are obviously overpricing their bitcoin by a lot. Or maybe try out https://localbitcoins.com. Just select Canada as your country. Not sure about the prices though.

Also, "What is the best way to purchase Canadian Bitcoins". Really? Canadian bitcoins? LOL

Coinbase does not let Canadian's sell their Bitcoins and they do not provide support for Canadians.


Sorry I am not sure why that is so funny about asking "What is the best way to purchase Canadian Bitcoins? Did I say that incorrectly? I wanted to be specific because when I mention purchasing Bitcoins to other people, they tend to send me to American websites that do not support Canadians. Like Coinbase.

Oh. Thought Coinbase catered to Canadians. Try out localbitcoins then.

Sorry for laughing at your statement, specifically "canadian bitcoins". You made just made it sound like canadians have their own version of bitcoin. lol

[digaran]

I know so much about Canadiangirls, are you interested in Canadiangirls or not? I would say activitytoken to spread the word about my activitytoken. yeah right, go for the lol. but we all know you are just here to advertise your CanadianBitcoins.com or something. we all know that Cex.io and exchanges like it are operating internationally, they'll just ask for credit card verification to make sure it's not stolen.

[BitTechNewbie]

Oh. Thought Coinbase catered to Canadians. Try out localbitcoins then.

Sorry for laughing at your statement, specifically "canadian bitcoins". You made just made it sound like canadians have their own version of bitcoin. lol

I also thought Coinbase catered to Canadians until I didn't hear back from them and then started to do searches on Google. I found several Canadian's saying that Coinbase did not work for Canadians.


Sorry, yeah I meant to buy from an Bitcoin exchange that lets Canadian's purchase in our currency, versus having to convert from CDN to whatever currency and then purchase the Bitcoin.

I am checking out LocalBitCoins.com and remember I am new. Why is it that when I search for Buying there are so many different prices all way over the market value of a Bitcoin? 

See here:


Seller   Payment method   Price / BTC   Limits   
jgomezvip (100+; 98%)    Western Union   7,778.68 CAD   1,500 - 2,221 CAD   Buy
amirbaba44 (0)    Cash deposit: CIBC   8,000.92 CAD   1,000 - 7,918 CAD   Buy
ovocoinman (70+; 97%)    Cash deposit: RBC * Fastest Release *   8,269.78 CAD   750 - 1,571 CAD   Buy
dgon1990 (3000+; 100%)    Western Union   8,275.03 CAD   500 - 5,000 CAD   Buy
gomesdm (1000+; 100%)    Paypal   8,339.56 CAD   50 - 300 CAD   Buy
mostmodest (3000+; 100%)    Western Union   8,371.34 CAD   500 - 2,093 CAD   Buy
mostmodest (3000+; 100%)    Moneygram   8,380.97 CAD   500 - 2,095 CAD

[gentlemand]

No mention of here? - https://www.quadrigacx.com/trade/btc/cad

I thought it was the number one stop for Canadians.

The usual reason exchanges are very differently priced to the norm is that they're small and illiquid markets. If everyone was on there the price would naturally move to the mean, but as there are so few it's down to individual orders and there may not be very many of them.

I can't imagine the Canadian market is a very big one. I'm in the UK where there isn't a proper exchange so you're stuck with P2P mainly. Prices are all over the place because of that too.

[mk4]

Oh. Thought Coinbase catered to Canadians. Try out localbitcoins then.

Sorry for laughing at your statement, specifically "canadian bitcoins". You made just made it sound like canadians have their own version of bitcoin. lol

I also thought Coinbase catered to Canadians until I didn't hear back from them and then started to do searches on Google. I found several Canadian's saying that Coinbase did not work for Canadians.


Sorry, yeah I meant to buy from an Bitcoin exchange that lets Canadian's purchase in our currency, versus having to convert from CDN to whatever currency and then purchase the Bitcoin.

I am checking out LocalBitCoins.com and remember I am new. Why is it that when I search for Buying there are so many different prices all way over the market value of a Bitcoin? 

See here:


Seller   Payment method   Price / BTC   Limits   
jgomezvip (100+; 98%)    Western Union   7,778.68 CAD   1,500 - 2,221 CAD   Buy
amirbaba44 (0)    Cash deposit: CIBC   8,000.92 CAD   1,000 - 7,918 CAD   Buy
ovocoinman (70+; 97%)    Cash deposit: RBC * Fastest Release *   8,269.78 CAD   750 - 1,571 CAD   Buy
dgon1990 (3000+; 100%)    Western Union   8,275.03 CAD   500 - 5,000 CAD   Buy
gomesdm (1000+; 100%)    Paypal   8,339.56 CAD   50 - 300 CAD   Buy
mostmodest (3000+; 100%)    Western Union   8,371.34 CAD   500 - 2,093 CAD   Buy
mostmodest (3000+; 100%)    Moneygram   8,380.97 CAD   500 - 2,095 CAD

Localbitcoins is a global market, meaning anyone can set up offers on whatever price they want. Remember to take into consideration their trust levels as this is really important, to prevent you from getting scammed. Look at the user's profile to view how many transactions they've done in the past and their feedback score. Best of luck.

[buwaytress]

I'll throw my weight behind localbitcoins too. It's slightly less secure to BUY Bitcoins, since you have to send payments first, but then if you just stick to Online Offers, choose traders with a good feedback score, good volume (50 is good enough), and with average release times corresponding to your mode of payment, the escrow release feature will do well for you. Never been scammed there, sticking to reputable and verified traders with online buy/sells.

Bisq is something similar, and am a new user there, so far so good. Slightly more complicated but I'd say the trouble you go through for escrow safety is well worth it.

[BitTechNewbie]

Some one needs to make a better system for purchasing Bitcoins, especially for Canadian's. Like someone mentioned before it truly is the wild wild west.

[BitTechNewbie]

I'll throw my weight behind localbitcoins too. It's slightly less secure to BUY Bitcoins, since you have to send payments first, but then if you just stick to Online Offers, choose traders with a good feedback score, good volume (50 is good enough), and with average release times corresponding to your mode of payment, the escrow release feature will do well for you. Never been scammed there, sticking to reputable and verified traders with online buy/sells.

Bisq is something similar, and am a new user there, so far so good. Slightly more complicated but I'd say the trouble you go through for escrow safety is well worth it.

So I understand localbitcoins rating system. When I see someone like this  btcbestprice (3000+; 100%) - this is where you are saying good feedback score and volume correct?

[BitTechNewbie]

What I am found out with Coinbase is that you can purchase Bitcoins using your Canadian bank/credit card...etc. But Canadian's can not sell


https://www.cryptocoinsnews.com/coinbase-shutdown-cad-services-canadian-customers/

And it appears that the Send/Receive option is not available either.


Any Canadian's here use Coinbase can verify that you can not send or receive Bitcoin once it is in your wallet?

I ask because for a broker they have the best rates, but I don't want to purchase the bitcoin and then can't get it back out.

Thx

[mrcryptosocial]

Basically the exchanges are all centralized entity among them self.
Means every exchange have their own control over their market.
So they decide the price on the demand and on the basis of supply.
When they see huge gains in other markets they chock the supply hence price at that exchange increases.   

[BitTechNewbie]

Basically the exchanges are all centralized entity among them self.
Means every exchange have their own control over their market.
So they decide the price on the demand and on the basis of supply.
When they see huge gains in other markets they chock the supply hence price at that exchange increases.   

I see that, and wow they are just manipulating the market.

[BitTechNewbie]

ok so I have been running some tests and learning a lot from you guys.

1) The cheapest broker so far is Coinbase.com. I did figure out that it is true you can not sell BTC's or transfer them to a Canadian bank/card...etc from Coinbase.com. You can purchase from Coinbase.com at a lower prices then a lot of the Canadian exchanges and then send the BTC's to another wallet like Electrum.

2) Localbitcoins.com is a little bit of a buyers beware situation because you have to do the research on the seller, and then when you feel comfortable send them the money.


Now my question to my fellow Cryptocurrency Canadian's how to I go from my Electrum wallet and transfer it back Canadian currency?