Bitcoin Price CAD
Bitcoin was first launched in 2009 by the pseudonymous Satoshi Nakamoto with the goal of creating the world’s first decentralized currency. Bitcoin uses blockchain technology to regulate the release of new Bitcoin and verify transactions independently of the banking system. It was designed as a way to pay for goods and services online without relying on the major banks and paying high transaction fees.
Bitcoin has been used as a currency since 2010 and it continues to grow. Businesses are using Bitcoin to reduce transaction fees and pay suppliers, while individuals can buy an increasing number of goods and services with Bitcoin. Individual investors and mutual funds have also begun investing in Bitcoin and other cryptocurrencies.
Since 2016, Bitbuy has offered Canadians an on/off ramp for cryptocurrencies. Bitbuy allows you to buy Bitcoin with Interac eTransfer and Bank Wire. It’s the easiest way to convert fiat currency into Bitcoin.
Why Buy Bitcoin
Ever since skyrocketing prices brought Bitcoin into the headlines, more people have been asking themselves if they should buy Bitcoin. There are several reasons why it may make sense for you to sign up to buy and sell Bitcoin today.
#1 Investing in Bitcoin: Many Bitcoin buyers are investors who use the cryptocurrency in their portfolio the way they might invest in gold. It’s an alternative to fiat currency that can produce big gains. Buying and selling Bitcoin as an investment also comes with risk, as the cryptocurrency has seen major price volatility. However, there are a finite number of Bitcoins that can be unlocked, and the rate at which they can be mined is periodically halved. There are only 21 million Bitcoins that will ever exist, most of which are already in circulation.
#2 Using Bitcoin for Transactions: As prices stabilize, Bitcoin will return to its roots as a decentralized currency. Other cryptocurrencies like Litecoin and Bitcoin Cash were designed to make transactions faster and be used for buying goods and service. There’s a growing list of merchants who accept Bitcoin. From ecommerce to server providers, you can pay for a number of goods and services with Bitcoin. As a business, Bitcoin allows an alternative to the banking system. More businesses are using Bitcoin to pay suppliers to avoid foreign currency exchange, regulations, high transaction fees, and wait times for international wire transfers.
#3 Digital Cash without Banks: Independence from the banking system is a major motivating factor for many Bitcoin and Bitcoin Cash buyers. They want to avoid the high fees and wait times involved in digital cash. As the world increasingly moves toward a cash-free society, Bitcoin and other cryptocurrencies are the only alternative to relying on major banks.
Whether you want to invest in cryptocurrency or use it as a business solution to cut transaction fees and pay suppliers, you can safely buy Bitcoin online on Bitbuy with the assurance of customer support. At Bitbuy we stand out as a Canadian crypto exchange by providing better customer service and support.
How to Buy Bitcoin in Canada
If you want to buy Bitcoin in Canada, it’s simple and straightforward with your Bitbuy account. Once you’ve confirmed your identity, email, and phone number, you can add funds directly from your bank account that you can use to buy Ethereum, Bitcoin, Bitcoin Cash, and Litecoin.
Before the development of cryptocurrency exchanges in Canada like Bitbuy, you had to deal directly with people who already owned cryptocurrencies. Now that process is much faster and secure thanks to platforms like ours, which come fully supported. If you ever run into a technical issue, Bitbuy customer support is available with same-day service.
You can store Bitcoin on your Bitbuy account or transfer it to your digital wallet.
A Secure Way to Buy Bitcoin in Canada
If security concerns have kept you from buying Bitcoin, you need to sign up for Bitbuy today. Take advantage of one of the best cryptocurrency exchanges in Canada when it comes to security. Every transaction you make on Bitbuy is encrypted using Secure Socket Layer technology with two-factor authentication solutions implemented throughout. SSL is a standard encryption security feature. Your transactions shouldn’t be without it.
Bitbuy also operates with a 95% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Cold storage is a cryptocurrency best practice. Since Bitcoin can be withdrawn instantly, cold storage prevents intruders from taking advantage of a security breach to withdraw the entire reserve. Bitcoins are stored offline to mitigate any potential security breaches.
Feeling safe that your digital currencies are protected is core to our mission. The best place to buy Bitcoin is a secure cryptocurrency exchange.
Bitcoin and the Decentralized Economy
Bitcoin and cryptocurrencies are at the heart of the new decentralized economy. Bitbuy encourages buying and selling Bitcoin by providing a technology platform that anyone can use. In addition to providing an easy way to buy Bitcoin, we also provide resources for learning about blockchain technology and cryptocurrencies.
Everyone should be able to buy Bitcoin simply and securely. Sign up for Bitbuy and start trading cryptocurrencies.