Bitcoin is popular and if you are reading this then you probably have it on your mind, where and how can I buy Bitcoin in Canada? Good question and for years you would have had to rely on companies located outside of Canada where you really need to do your research to know if the company is legit or not. There are more than enough sites out there that are just scams so the research part is important.
The short answer to that question is you can buy Bitcoin with Coinberry which is a Canadian company.
Is Coinberry safe for buying Bitcoin?
You know we are going to say yes but lets get into the details.
- Accepts Interac plus Visa & MasterCard
- FINTRAC Complaint
- Made in Toronto
Coinberry AML & FINTRAC
From the Coinberry AML section of their website states:
Our Commitment Coinberry is committed to preventing, detecting and deterring fraud, money laundering and terrorist financing. Coinberry has a no-tolerance fraud, money laundering and terrorist financing policy and actively engages the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the Royal-Canadian Mounted Police (RCMP) and other law enforcement agencies when users engage in activities contrary to this policy.
Coinberry is a reporting entity under current Canadian anti-money laundering (AML) and counter terrorist financing (CTF) legislation and is registered as a Money Service Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Bitcoin is volatile
Whatever your reasons for buying Bitcoin, you should know that Bitcoin is very volatile and the value of it can change drastically and in theory it could crash and lose most of it's value. Many people want to buy Bitcoin because they have heard about it in the news and read people are getting rich from it. Just be aware of the risks involved.
Storing your Bitcoin
You could keep your Bitcoin on Coinberry but we recommend that you store it on your own computer.
Wallets for your computer
You can transfer your Bitcoin from Coinberry to your own wallet.