Buying Bitcoin in Canada | Best Platforms Compared
A growing number of people in Canada are weighing options for where to buy Bitcoin and transfer it to cold wallets for safe keeping. The discussion centers around various platforms including Shakepay, Kraken, Coinbase, and now NDAX, reshaping the debate on security and costs.
Key Platforms Reviewed
Recent discussions highlight a split among users about which exchange is best for Bitcoin transactions. Coinbase has its supporters for its ease of use, while also facing scrutiny over its fees and withdrawal complexities. Shakepay remains popular for beginners, but newer options like NDAX are garnering attention for potentially lower fees.
NDAX: An Emerging Contender
One user pointed out that NDAX offers a competitive 0.2% trade fee with free Bitcoin withdrawals, making it an attractive option. "If you're interested, check out a step-by-step video I made on how you can buy from them," the user suggested, indicating that educational resources are available for those who want to dive in.
Shakepay vs. Kraken: Reliable Choices
While Shakepay is often favored for its ease of use, Kraken is receiving praise for its security and fee transparency. As one user mentioned, "Kraken feels the most reliable when it comes to security and transparent fees," especially for those wanting to transfer Bitcoin to cold storage.
Altcoin Options on the Radar
Some forum participants recommended platforms like Bull Bitcoin and Bitcoin Well, which avoid holding Bitcoin on exchanges. One noted, "These exchanges do not store your Bitcoin and directly send it to your wallet of choice." Additionally, users expressed frustrations over limitations, with one stating, "Shakepay's transfer limits can be annoying."
Users have also remarked on the convenience of services that allow Interac e-transfer with platforms like Newton, enhancing accessibility for Canadian buyers.
Caution in the Community
Despite the positive discussions, a cautious tone prevails, with people warning about scams being circulated through private messages. This vigilance emphasizes the need for informed choices when selecting platforms for transactions.
Key Insights from Discussions
🔎 Platform Comparison: NDAX is emerging as a top choice alongside Shakepay and Kraken for its low fees and free withdrawals.
🚨 Increased Scam Warnings: Forum contributions reflect a notable rise in scam alerts and awareness.
🌍 Beginner Guides: Resources for new users are increasingly available, aiding informed decisions.
As the Canadian crypto market grows, preferences are evolving. With an increasing number of people prioritizing platforms that emphasize security and direct wallet transfers, NDAX, Shakepay, and Kraken could lead the pack in the coming months.