Buy Bitcoin (BTC) in Canada with Credit Card or Debit Card

Bitcoin (BTC) is a form of digital currency that exists solely online and is not tied to any physical money. It allows individuals to send payments directly to one another over the internet, bypassing traditional banks or financial institutions. Bitcoin operates on a secure technology known as blockchain, which records all transactions in a way that is highly resistant to tampering or fraud. A notable characteristic of Bitcoin is its fixed supply, meaning its value is intended to appreciate as demand increases and the available supply decreases.

Yes, buying and holding Bitcoin is legal in Canada. While it's not recognized as legal tender like the Canadian Dollar, the Canada Revenue Agency (CRA) generally treats it as a commodity for tax purposes. Businesses dealing in cryptocurrencies in Canada are regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to ensure compliance with anti-money laundering and anti-terrorist financing regulations.

Yes, you typically need to pay tax on Bitcoin in Canada. If you realize a profit from selling, trading, or using Bitcoin for purchases, you might be subject to Capital Gains Tax. Only 50% of your capital gains are taxable. If your activities with Bitcoin are more frequent and business-like, such as extensive trading or mining, the profits could be considered business income and fully taxable. The CRA requires accurate record-keeping for all crypto transactions.

We do our best to make it so. We stick to our non-custodial principles here as well and work only with reputable licensed virtual service providers that release the purchased cryptocurrency to the user's address instantly.

Yes, to receive the purchased bitcoins you need to own an appropriate cryptocurrency address (wallet). This is why before buying, you will be prompted to specify your BTC wallet address. You can create one with a crypto wallet software or hardware wallet device and import an existing wallet elsewhere later.

The fees when buying Bitcoin depend on the chosen fiat currency, payment methods, and current miner fees. You can always see the current fees before purchasing in transaction details, after clicking ‘Buy’ in the widget on the main page.

Our payment providers support Visa and MasterCard BTC purchases in Canada.

We attest our providers do their best to process transactions as quickly as possible — ideally in an instant. However, multiple factors outside of their influence affect the transaction processing speed, such as network load or payment processing by the bank or alternative payment method. Usually, a Bitcoin transaction would be confirmed in 10 minutes and be securely recorded on the blockchain within 60 minutes.

We’re open to the idea of expanding the list. Reach out to us with a request to support@changehero.io or the providers’ teams and we will consider the possibility of adding the requested currency.

The minimum and maximum amounts vary depending on the currencies and the provider. For reference, the minimum amount is around €25 (approximately $36 CAD) equivalent and the maximum amount is approximately €10,000 (approximately $14,500 CAD) equivalent per transaction. You can always check them in a widget on the home page.

Please note that the KYC threshold varies by provider. Generally, you can purchase up to €700 (approximately $1,000 CAD) equivalent without an identity verification. However, keep in mind that the provider reserves the opportunity to selectively request an identity verification even for smaller amounts. The full terms of the identity verification process for each provider are laid out in the agreements you accept when creating the order.

ChangeHero does not store the personal information of clients beyond verification procedures. As for our partner payment providers, they use reputable and regularly audited identity verification services that encrypt all sensitive data.

Our partners and ChangeHero always work to expand the list of supported payment methods and purchase limits. If you want to buy BTC in amounts over the €10,000 (approximately $14,500 CAD) equivalent, contact support@changehero.io for more information.