Buying Crypto with Debit in Canada


#1

Used to have a coinbase account linked up to my capital one card, capital one is no longer accepted. I have a quadrigacx account but they don’t accept interac online or something. Where is the best place for a Canadian to buy ethereum or bitcoin in Canada?


#2

Any place. Binance localbitcoin kraken. Millions of places


#3

I think you misunderstood the question. OP is asking where is best for Canadians to exchange fiat to BTC or ETH.

@StevenPye As a Canadian myself, I have found Quadriga to be the purest Cad to coins method. I’m not sure what issue you’re having, so please describe and I’ll see if I can help.

Since Coinbase is a no-go for you, and I personally don’t enjoy being limited to $250/week for new account, try Coinsquare. You will not be able to withdraw the BTC/ETH you purchase for a few days for new accounts, but you will have the opportunity to purchase through their mobile apps (Android / iOS) using your bank account.

You may be running into an issue that most Canadians are facing when trying to use your debit card for interac deposits. Your bank may have a deal with Visa instead of interac - check your debit card.


#4

You are exactly right Johnny! I appreciate it. Basically, any funding option for me with quadrigacx is disabled. I’m not sure if they are down for maintenance or whatever. I will try Coinsquare, I am assuming they have interact online? I would like to be able to get my funds asap rather than waiting a few business days. Once again, thanks for all the help!


#5

Give coinsquare a try. You may not be verified yet on Quadriga, a 1-14 business day process depending on how many people are trying to get verified at the time. Not being verified gives you no way to deposit funds.


#6

and then when you are verified you can only do 50k wires and 2k interac online


#7

@StevenPye

There’s a whole list of what you can do. Check with your bank on your interac daily $ transaction limit is. You can transfer 2k at a time, up to 4k in a day with interac transfer on Quadriga. I would opt to print off and fill out the wire transfer setup form and go that route for a majority of your $, and keep a portion to DCA into the market via interac as you wait the business days clearing period for your wire transfer.


#8

Quadriga is definitely the best option


#9

I also use quadriga. They do have online debit, albeit $2k limit per transaction.


#10

So potentially hijacking this but along the same lines. What do you guys suggest for cashing out profits to a Canadian acc?


#11

Thanks for all the help everyone! I am verified now. Tried to use interac online and it says

“Due to daily limits imposed by our Payment Service Provider, we are unable to accept further Interac transactions until 9:00pm EST.” when I tried it after that time last night, said it couldn’t process. all I did was put in my email, no banking info at that time.


#12

Not sure what is going on, but I have been depositing funds no problem via RBC Interact online transfers with Quadrigacx Interact. Are you Equifax verified or at least address verified? I know that could play a big part.

Hope this gets resolved!


#13

The equifax verification is for site functions above an beyond the simple yet time intensive verification process. the equifax verification will take all of 10 minutes to complete, but the backlog of identity verification is weeks long.

RBC has proven to be the best Canadian bank to use for deposits and withdrawals according to /r/bitcoinca