How to Invest in Bitcoin and Other Cryptocurrencies

Invest in Bitcoin and other cryptocurrencies with Canada’s most secure crypto trading platform!
How to Buy Bitcoin in Canada:
The Comprehensive Starter Guid

How to Invest in Cryptocurrency

  1. Choose your crypto trading service. Exchanges like Bitbuy are convenient because we offer more features and more cryptocurrencies to trade. While Bitcoin is a popular choice for crypto investment, Bitbuy offers other currencies like Ethereum, Solana, and more.
  2. Create your online account and connect it to a payment option. Use two-factor authentication and a unique password to prevent crypto theft. You can connect directly to your bank account.
  3. Invest in your cryptocurrency of choice. Bitbuy and cryptocurrency wallets are safe places to store your digital assets more securely. Your crypto wallet can be hosted either by the cryptocurrency exchange, an independent wallet provider or even on a piece of paper.

Get Started with Crypto Here

Do More with Your Crypto Through Staking

Earn rewards up to 13.92% in a regulated environment by staking your crypto. By allowing the network to use your holdings to forge new blocks on the blockchain, you earn rewards and your crypto benefits from increased stability.

Start earning rewards on your crypto in 3 easy steps:

  1. Choose one of the eligible coins and purchase it if you do not already own it.
  2. Choose how much of your coin you would like to stake.
  3. Earn staking rewards paid out frequently while you HODL.


Get Started with Crypto Staking Here

Why Choose Bitbuy Canada to Invest Your Crypto?

Established in 2016, Bitbuy is Canada’s most trusted and secure cryptocurrency exchange platform. We provide fast access to buying, selling, and staking cryptocurrencies.

  • Safe and secure – Bitbuy is the first TSX-listen company and one of the only crypto trading platforms registered by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA). 99% of your crypto is kept secure in our Cold Storage and covered by a comprehensive insurance policy.
  • Buy, sell, and stake at your convenience – You can access the crypto exchange 24/7, allowing you to buy, sell, and trade in real-time as prices change. You are in complete control and not reliant on a fund manager to make decisions about your crypto.
  • Easy funding – Once you have created your account, use your bank account directly to fund your Bitbuy account, which you can then use to buy and sell cryptocurrencies in Canada.
  • Award-winning customer support – Bitbuy makes buying crypto fast and efficient thanks to our customer service team.

Crypto Investing FAQs

What are the benefits of investing in cryptocurrency?

Anyone can buy Bitcoin or another cryptocurrency. You can invest if you have an internet connection and some cash. Creating an account and connecting it to your payment option takes only a few minutes. Bitcoin is very liquid, meaning you can buy it whenever you want, in as much quantity as you wish.

Unlike bank transfers, Bitcoin transactions take mere minutes to process. You can send as much money as you want to whomever you want. No one can freeze your transaction, and your identity is anonymous.

Bitcoin is a high-performing asset with a history of delivering huge returns despite market crashes. It does a great job of preserving its value, no matter the state of the stock market or your location.

What is a cold wallet?

Keeping cryptocurrency in cold storage is the safest way to protect your coins from hackers. The risks involved in cold wallets are physical. You can do nothing to recover your funds if they’re lost or stolen. They can also be lost in a fire, flood or even physically broken down. Cold wallets physically store your public and private keys. The two main types are hardware and paper wallets, but you can use anything. Some Bitcoin owners even print the encryption keys on objects like gold coins or other valuable items.

Hardware wallets store your private key on a device that can be kept offline or connected to the internet, such as a USB drive. This provides the best balance between security and convenience. The more time your coins spend online, the more vulnerable they are. Do research to ensure your hardware wallet is compatible with the web interface you use to buy Bitcoin. Hardware wallets can be a bit more expensive.

Paper wallets are one of the most secure ways to store Bitcoins offline. Write down or print off the public and private keys. Often paper wallets use QR codes for the security keys. You can send money through the public Bitcoin address and withdraw it with your private key. Paper wallets should be kept somewhere safe or in a safety deposit box at the bank. Paper will physically degrade and easily be lost in a fire.

Can I trade Bitcoin for other Cryptocurrencies?

Yes! Bitcoin is the most popular cryptocurrency worldwide, but many other cryptocurrencies are available. You can buy other major cryptocurrencies with Canadian dollars on Bitbuy or trade crypto for crypto.

What is a cryptocurrency ETF?

A cryptocurrency ETF is a fund that tracks the price of a single cryptocurrency, like Bitcoin. It might also track the price of a basket of different digital tokens and currencies. By purchasing a share in a Bitcoin ETF, your investment would track the cost of the Bitcoin without you buying it directly.

Physical cryptocurrencies back the cryptocurrency ETFs. There is a fund manager that purchases cryptocurrencies directly. They open up that fund to investors who can buy shares in the ETF. As an investor, you do not own crypto directly, but you get to buy in without having the knowledge, resources, and risk of outright ownership.

A crypto ETF is available on a publicly-traded stock market, along with shares in other companies, including non-crypto businesses and industries.

What is a Bitcoin ETF?

Bitcoin ETFs are a new product for inventors. The US Securities and Exchange Commission (SEC) blocked proposals for Bitcoin ETFs for many years. In 2013, the Winklevoss twins first filed a proposal for a Bitcoin ETF, which was subsequently blocked by the SEC.

The first cryptocurrency ETF in the US started trading in October 2021, the ProShares Bitcoin Strategy ETF. The fund saw massive investment instantly. It took just two days for the fund to accumulate $1 billion, making it the second-fastest ETF to hit that number.

Canada beat the US to a Bitcoin ETF when the Purpose Bitcoin ETF began trading on the Toronto Stock Exchange seven months before the ProShares ETF. The fund purchases physical Bitcoin, not derivatives or futures.

What are the benefits of a Bitcoin ETF?

The primary benefit is that it can be tax efficient. Because a Bitcoin ETF is regulated, you can invest money in a TFSA or RRSP in an ETF. Currently, you cannot invest those funds directly in Bitcoin.

A Bitcoin ETF outsources all the purchasing and storing of Bitcoin to the fund manager. You no longer have to worry about passwords to your digital wallet.

Like buying shares in other stocks, an ETF allows you to buy and sell Bitcoin seamlessly in your existing portfolio. If you are more comfortable navigating the stock market, an ETF may be for you.