Bitbuy Digital Currency Exchange
- Based in Toronto
- Lets you make quick buys and sells or actively trade
- Bitbuy dashboard makes it easy to manage and track your crypto
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
If you have a leather wallet full of cash and want to turn it into a digital wallet full of bitcoin or any other cryptocurrency, you have a few different options.
|How it works||Platforms to use||What to consider|
|Peer-to-peer||Meet a seller near you in person and buy bitcoin with cash in hand, or any other payment option you agree on.||Both the buyer and seller can be nervous about this kind of transaction. Make sure you only meet in a public place, and try to only deal with sellers that have a good reputation on the site.|
|Flexepin vouchers and prepaid cards you buy with cash||Buy a prepaid card with cash at a grocery or convenience store. This can then be widely used to buy bitcoin. Flexepin vouchers can be purchased from select Canadian Tire gas stations.||It’s a convenient way to buy anonymously and with cash in hand, but your options may be limited. It’s typically not very cost-effective, and you might be limited to relatively small individual transactions.|
|Cash transfer at banks||Go to a bank and pay with cash over the counter for the bank to pass on to the coin provider’s account.||This is a good way of turning cash into bitcoin with minimal fees. However, different coin providers might have their own requirements.|
|Bitcoin ATM||Deposit cash into a machine, which will then deposit bitcoin into your wallet.||See if there’s a bitcoin ATM near you.||If there’s a bitcoin ATM near you, then this might be a quick and convenient way of getting bitcoin deposited into your wallet. However, it might involve significant fees.|
|Pay cash at a money transfer service||Go into a Western Union or MoneyGram branch (or equivalent), and pay the cash for a transfer to the specified recipient.||A wide range of providers accept this payment method, and it might be one of the only ways of making cash deposits on exchanges, rather than simply as a way of paying cryptocurrency sellers. As long as there’s a branch near you, this is a very easy way to pay cash for the service of your choice. The downsides are that you lose some anonymity and you might get caught by fees.|
Like most things, paying with cash has both benefits and downsides. Depending on your preferred method above, you might experience the following:
Your fees will vary depending on your exact cash payment method. You’ll also find different standard commissions and fees depending on your method. For example, you can generally expect premium prices and relatively high commission fees for the convenience of paying with a Flexepin voucher.
Before buying, you’ll need to set up a place to put your cryptocurrency, which means getting a cryptocurrency wallet.
You don’t need to have it on your computer either. By paying for bitcoin with cash and using a hardware wallet, you can buy bitcoin almost entirely offline.
Learn how to stake Solana (SOL) by following a step-by-step guide. Start earning interest on your crypto today.
Learn how to easily sell Solana (SOL) by following our step-by-step guide and compare 10+ crypto exchanges. Get started today.
If you’re looking for ways to gain exposure to Bitcoin and other digital currencies, cryptocurrency ETFs could be worth exploring. Find out what crypto ETFs are and how they work in this introductory guide.
Cardano (ADA) is an entirely new cryptocurrency network built from scratch. See what makes it unique, and where you can buy it.
Amazon Channels offers an easy way to access all your favorite content in one app.
An in-depth review of one of the most popular lending and interest earning platforms in cryptocurrency.
Nexo is a cryptocurrency lending and borrowing platform that offers high interest rates on cryptocurrencies, stablecoins and fiat. We review the features available and look at how safe your funds would be on the platform.
SPONSORED: Earning cashback and points on credit cards has been popular with Canadians for years, but there’s a new card reward emerging: Bitcoin cashback.
Learn how to trade futures contracts on Binance with this visual step-by-step guide.
Learn how to use DeFi aggregator Yearn Finance to earn interest on your cryptocurrency.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.