6 Ways to Buy Bitcoin with Interac e-Transfer [Canada]


Are you in Canada? This is a complete guide to buying Bitcoin using Interac e-transfer quickly in that region. Here are the list of exchanges that accept Interac e-transfer.
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The Interac online can exclusively help you buy Bitcoin easily in Canada.

It’s not a service that is available in United States, or any other region, and one of the function is allowing individuals and businesses to transact between each other.

In other words, buying Bitcoin cryptocurrency with e-Transfer is the most convenient option for Canadian citizens.

So, there are trusted crypto exchanges in that region that can allow you to buy BTC using Interac e-Transfer as method of payment for the purchase.

Let’s check them out below…

Best exchanges to buy Bitcoin via Interac

The list below contains Bitcoin exchanges and brokers that allow you to buy BTC with Interac e-Transfer.

CoinSmart

CoinSmart is a Canadian exchange. It allows users to buy and sell Bitcoin and all major cryptocurrencies only in Canada.

Customers can buy and sell BTC and ETH using Interac e-Transfers, bank transfers, SWIFT, and credit/debit card. New users will receive $20 CAD (in BTC) once they deposit at least $100 CAD.

Pros

  • Many payment methods accepted
  • Many coins offered
  • Fast verification

Cons

  • Somewhat new company

Bitbuy

This exchange is based in Canada. You can buy Bitcoin, Litecoin, Ethereum and other Altcoins with Interace e-Transfer, or bank wire for as low as 0.1% fees.

The exchange has good support available through its live chat, or via phone and email address.

Pros

  • Fast way to buy Bitcoin
  • Very high buy and sell limits
  • Can handle large buys through OTC desk
  • Easy to use mobile app

Cons

  • No longer supports Flexepin

Coinberry

Coinberry being a Canadian exchange, allows users to buy and sell Bitcoin, Ethereum, Litecoin and other crypto-coins in Canada.

Customers can buy and sell BTC and ETH using Interac e-Transfers, bank transfers, SWIFT, and credit/debit card.

Pros

  • Many payment methods accepted
  • Many coins offered
  • Fast verification

Cons

  • Somewhat new company

Coinsquare

Coinsquare is Canada’s largest cryptocurrency exchange. It allows users to buy and sell Bitcoin, Ethereum, Litecoin and other crypto-coins.

Customers do use them to buy and sell BTC and ETH via Interac e-Transfers, bank transfers and SWIFT as method of payment.

Pros

Cons

  • Orderbook may be confusing for new buyers

MyBTC

MyBTC.ca is Canadian Bitcoin brokerage site that allows Canadians to buy Bitcoin with both instant and same-day payment methods.

These methods include;

  1. Interac e-Transfer
  2. Bank Wire
  3. Instant Debit
  4. Flexepin vouchers
  5. Cash & Interac at Canada Post

In terms of buying limits, you can purchase crypto worth from $50 to $100,000. The exchange requires ID verification, which can be submitted online and approved within 1-hour.

If you prefer to complete it in-person you can, as there’s an agreement with Canada Post and their 4,000+ locations nationwide.

For support, the exchange is available through live chat, SMS text, phone or email address.

Lastly, in terms of fees, the exchange ranges from 4.75-7.75% depending on the payment method used.


NetCoins

Netcoins is an exchange based in Vancouver. You can buy and sell Bitcoin and other major crypto-coins with Interac e-Transfer, online bill payment or wire transfer.

They charge 0% on funding and FIAT withdrawal fees and .5% on trading.

Customers receive support during business hours through live chat, email or phone call. Getting started and verified takes a couple of minutes.

New users will receive a $10 CAD bonus, once they complete $100 in cumulative transactions.

Pros

  • Deep liquidity with no slippage
  • Instant withdrawals
  • Fully audited
  • Fast verification
  • Great customer support
  • Regulated and compliant MSB under FINTRAC

Cons

  • No mobile app yet

FAQ

There are few questions I would like to answer, concerning buying Bitcoin in Canada with the popular e-Tranfer payment methods…

What is Interac e-Trasnfer?

Interac e-Transfer is an electronic payment platform that allows its users to send and receive money via text or email, much like Zelle or Venmo in the US.

How do I buy Bitcoin with Interac?

  1. Pick any of the exchanges that will accept Interac e transfer as a payment method
  2. Open an account on the chosen crypto exchange
  3. Fund your account with an e-Transfer
  4. Choose your Interac e-Transfer method
  5. Enter your desired amount you want to buy
  6. Send e-Transfer
  7. Make a market order for Bitcoin
  8. Select your funded account as the payment method for the Bitcoin

Once you have follow through all these steps above, just go ahead and complete the order.

Is Interac e-Transfer safe for Bitcoin purchase?

As long as the exchange you are sending money to is safe, then yes, it is perfectly safe to use Interac to buy Bitcoin.

In conclusion

Now you have some background on the possible ways to buy Bitcoin in Canada using Interac. It’s a great safe method of purchasing Bitcoin that’s pretty low in fees.

Please note due to the nature of bank transactions, funds or delivery may be delayed until the automatic clearing system receives the money you transferred.

Do not forget to use a cryptocurrency wallet that is secure (maybe a hardware wallet) to store the Bitcoin when you finally succeed in buying it, otherwise you may risk loosing it instantly.

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