There are two ways to buy Bitcoin in Canada in the cheapest possible way (and you can use Interac e-transfer for it): use either Bull Bitcoin or Bitcoin Well and I use both of them.
These are the only two exchanges in Canada that focus solely on Bitcoin trading, helping you cut costs. I've moved all my Bitcoin trading to these platforms because it just makes financial sense. I've shared my thought in my latest video or feel free to keep reading this thread.
I've been trading crypto in Canada since 2016. I started with Coinbase, which is great for multiple coins and fully regulated in Canada. Feel free to use my referral link in the description for Coinbase if you trade crypto coins besides Bitcon. But today, I want to highlight two non-custodial Canadian exchanges that specialize in Bitcoin. I find it the best way to buy bitcoin in Canada.
First up, Bull Bitcoin. I’ve posted a full review before, but here’s why I love them. When you buy Bitcoin, it’s sent directly to your personal wallet. This means you have full control over your Bitcoin at all times, and the exchange never has access to your private keys or funds. In simple terms, you are in full control of your money compared to traditional exchanges.
If you don’t have a personal wallet, I highly recommend getting one. I’ve shared my thoughts on the best crypto wallets for Canadians in a Reddit thread—check out the link in the description. Bull Bitcoin operates on a Bitcoin-only model, focusing on simplicity and efficiency. This specialization reduces overhead costs associated with supporting multiple cryptocurrencies, keeping fees low.
They charge a flat fee of around 0.5% per transaction. No hidden costs! Unlike many exchanges that make money off the spread between buying and selling prices, Bull Bitcoin charges a flat fee and offers market prices with minimal spread, ensuring more value for your money. Their dedication to Bitcoin allows them to streamline operations and reduce costs associated with maintaining a wide range of cryptocurrencies.
One of my favorite features of Bull Bitcoin is the ability to pay Canadian bills with Bitcoin. It’s an amazing service that I use all the time. You can also buy gift cards for popular Canadian retailers and stores with Bitcoin. When I do anything with Bitcoin, Bull Bitcoin is my go-to platform. If you decide to use them, here's my referral link with $20 bonus.
If you’re serious about Bitcoin, move your assets to a private wallet and use Bull Bitcoin for all your needs.
Next is Bitcoin Well which is also the cheapest way to buy and sell bitcoin in Canada. Similar to Bull Bitcoin, it’s non-custodial and Bitcoin-focused. They offer a different interface but provide the same essential services. I prefer Bull Bitcoin because they were first to offer bill payments with Bitcoin, but Bitcoin Well is a great choice too.
So what's the difference between these two? Bull Bitcoin allows to deposit via Canada Post to save anonymity and I know many use this but I still do via transfer + more Canadian retailers to buy gift cards with BTC.
I'd say Bitcoin Well is more transparent since it's a public company if it matters to you. I also use use their bitcoin savings plan.
At the end of the day, I use both of them to buy Bitcoin in Canada and I recommend both, so give them a try and see which one is best for your needs or you can use both at the same time like I do. You can read more detailed comparison in my article: https://ocryptocanada.com/comparison/bull-bitcoin-vs-bitcoin-well/
I hope this thread helps you save money on Bitcoin trading. If you found it useful, please upvote and share in comment which bitcoin service you prefer.
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