Frequently asked questions
Buying Bitcoin in Canada can be done in several ways, but the most popular is through an exchange. These organisations act as impartial bridges between traders. You can compare the available exchanges using Cryptoradar.
You can, but only on some exchanges. Other exchanges will convert your Canadian Dollars to US Dollars after you deposit money.
According to the Canada Revenue Agency, cryptocurrency is not legal tender, but rather a digital representation of value, which is treated more like a commodity for tax purposes. Therefore, when businesses and individuals earn money through the sale of Bitcoin, they’re taxed under capital gains, as they would be if they were selling any other kind of asset.
Bitcoin is the first decentralized digital currency and the leading cryptocurrency worldwide. Bitcoin serves as a store of value and is therefore often referred to as digital gold. Read our guide on Bitcoin to learn more about this cryptocurrency.
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