Learn a bit about Bitcoin 🧐

Bitcoin is a digital form of money. Unlike cash or credit, it’s not controlled by any government or bank. Instead, it runs on a technology called blockchain—a public record that keeps track of every transaction. It’s secure, open to everyone, and once something is recorded on the blockchain, it can’t be changed.

Bitcoin was created in 2008 by someone (or a group) using the name Satoshi Nakamoto. No one knows exactly who they are, but their invention has sparked a global movement around digital money.

Every time you send or receive Bitcoin, that transaction is recorded on the blockchain. People called miners use powerful computers to verify these transactions, keeping the system honest and secure. In return, miners earn Bitcoin.

Bitcoin is valuable because it’s scarce (only 21 million will ever exist), secure, and independent from any central authority. It’s also fast and global—you can send it to anyone, anywhere, without needing a bank.

Yes, buying Bitcoin is legal in most countries, including Canada. It’s treated like a commodity—just like gold.

Use a trusted platform like Bitbuy. We are a secure, Canadian-based crypto trading platform with strong protections like insurance on your cash and crypto, two-factor authentication, cold storage, and regular audits. Simple to use and built for Canadians, Bitbuy makes getting started with Bitcoin easy.

You don’t need to buy a whole Bitcoin. You can start small—even just a few dollars’ worth. The smallest unit of Bitcoin is called a Satoshi, and you can buy fractions based on your budget. The minimum to buy on Bitbuy is 0.00005 BTC.

Out of 21 million total Bitcoins, about 19.8 million have already been mined (as of May 21st, 2025). That leaves just over 1.1 million to go. Bitcoin’s limited supply is part of what gives it value—it can’t be inflated like FIAT money.

The technology behind Bitcoin—called SHA-256 encryption—is incredibly secure. It’s used by top security agencies. But remember: with great power comes great responsibility. You control your Bitcoin, so if you lose your private key or send money to the wrong address, there’s no undo button.

That’s why platforms like Bitbuy are ideal. They offer top-notch security, two-factor authentication, and store 95% of funds in cold storage, keeping your Bitcoin safe from online threats.

Here’s a quick step-by-step using Bitbuy:

1. Send your Bitcoin to your Bitbuy wallet.
   
2. Use Bitbuy’s “Quick Trade” feature to sell your Bitcoin.
3. Withdraw the Canadian dollars to your bank account via Interac e-Transfer or bank wire.

It’s simple, secure, and fast on Bitbuy.