How to buy Ethereum with Bank Wire Transfer

Bitbuy makes it easy for Canadians to buy Ethereum with Bank Wire Transfer

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How to Buy Ethereum with Bank Wire in Canada: A Step-by-Step Guide

Purchasing Ethereum in Canada has never been easier, thanks to platforms like Bitbuy. Bitbuy offers a fast, secure, and user-friendly way for Canadians to buy Ethereum (ETH) using bank wire transfers. In this guide, we'll walk you through each step of the process, ensuring that even beginners can confidently buy Ethereum.

Why Choose Bitbuy?

Before diving into the steps, let's explore why Bitbuy is the preferred platform for buying ETH in Canada:

  1. Fast Transactions: Bitbuy ensures quick processing times for bank wire transfers, allowing users to buy Ethereum with minimal delays.
  1. Secure Platform: Bitbuy employs advanced security measures, including 2FA (Two-Factor Authentication), 90% cold storage of digital assets, and a comprehensive insurance policy.  
  1. Canadian-Based: As a Canadian-based platform, Bitbuy is tailored to the needs of Canadian users and operates under Canadian regulations.
  1. User-Friendly Interface: Bitbuy's intuitive interface makes it easy for beginners to navigate and successfully buy ETH.
  1. Responsive Customer Support: Bitbuy offers dedicated customer support to help users with any questions or concerns they may have.

Step 1: Create a Bitbuy Account

If you already have a Bitbuy account, then skip to Step 3. To get started with a new account, visit Bitbuy and click on the "Sign Up" button. Fill in your name, email address, and create a strong password. Make sure to verify your email by clicking the link sent to your inbox.

Step 2: Verify Your Identity

To comply with Canadian regulations, Bitbuy requires users to complete a KYC (Know Your Customer) process. You'll need to provide identification documents (e.g., driver's license or passport) and a recent utility bill or bank statement as proof of address. The verification process is usually completed within 24 hours.

Step 3: Fund Your Account with a Bank Wire Transfer

To fund your Bitbuy account via bank wire, first make sure you've completed the Financial Questionnaire for your Bitbuy account. Then, from your 'Accounts' page, click on the 'Deposit' button and select 'Deposit CAD with Wire Transfer'. Fill out your funding request by selecting your bank name and inputting the deposit amount, then click 'Create a Request'. After your wire request is created, download the wire transfer instructions provided on the next page. With these instructions, complete your wire transaction at your bank branch. Finally, upload your wire receipt by following the initial steps, then click ‘Select File’ under the Receipt column in the Wire Transfer Information section. After uploading, Bitbuy will review and process your transfer within 2-3 business days. This method is ideal for amounts greater than $10,000 CAD.

Step 4: Buy Ethereum (ETH)

After your account is funded, click on "Buy/Sell" at the top of the dashboard. Select Ethereum as the cryptocurrency you'd like to purchase and enter the amount in CAD or ETH. Review the transaction details, including the current exchange rate and fees. When you're ready, click "Buy Ethereum" to complete the transaction.

Step 5: Store Your Ethereum

Your newly purchased ETH will be stored in your Bitbuy wallet. Your crypto is kept secure with a 90% cold storage policy and covered by a comprehensive insurance policy. However, if you wish to have self-custody of your crypto assets, you can transfer your Ethereum to a personal hardware or software wallet.

Congratulations! You've successfully bought Ethereum using a bank wire transfer in Canada through Bitbuy. With its user-friendly interface, security features, and dedicated customer support, Bitbuy makes it easy for anyone to enter the world of cryptocurrency.

How to buy Ethereum in Canada using Bank Wire Transfer

Create an account
Provide some basic details about yourself and get instantly verified
Fund your account

Fund your Bitbuy account using Bank Wire Transfer

Buy Ethereum
One click, and you're done

Investor love 😍

Bravo Bitbuy! Hands down best Bitcoin buying app in Canada. I have used all of the other crypto apps in Canada. This is by far the best app out of them all.
Really simple and easy to use, customer service seems excellent - very responsive and quick. Glad I chose this app for my cryptocurrency
Easy to use, reliable and transparent to its fees, no hidden charges.
Really good app for low fees and easy trading. Especially when compared to other popular crypto apps (like Coinbase) Bitbuy has WAY lower fees for Canadians.
Extremely fast, typically you can get cash from fiat to your favourite crypto exchange within 30 minutes to an hour. Super impressed had to leave a review.
Legit way to buy BTC with Canadian dollars. Simple and quick to set up.

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