Step 1: Choose A Local Crypto Exchange 📈💱📉
Step 2: Open A Crypto Account ✍️
Step 3: Submit required documents 📝
Step 4: Fund Your Crypto Account 💳
Step 5: Buy Bitcoin 🛒
Step 6: Transfer Bitcoin To Your Cold Wallet🔐
There are several local Canadian crypto exchanges to choose from such as ShakePay, BitBuy, NDAX and much more. Amongst these Canadian crypto exchanges, NDAX stands out as the best Canadian crypto exchange for beginners, intermediate and advanced crypto traders and investors.
Why choose NDAX?
To open an NDAX crypto account & get $10 cashback, click here.
Documents and information needed to open an NDAX crypto account include (mostly the same as other crypto exchanges):
NDAX offers instant id verification for new users. This means you can buy Bitcoin or any crypto of your choice as soon as you complete the account registration & verification process.
Next, fund your account. There are several ways to fund your NDAX crypto wallet and the simplest way to fund your account is via Interac e-transfer.
To start, open an NDAX account here to receive $10 cashback when you fund your account with $100 or more and buy Bitcoin or any crypto of your choice.
The most common required documents most crypto exchanges request for is a valid government issued photo ID. For example, driver’s license, provincial ID card, permanent residenct card, passport etc.
Ensure the name and address listed on the ID card matches the same information provided to NDAX to prevent delays in the account opening and verification process. Some crypto exchanges may request for utility bill with your name and address: a recent bank statement or phone bill should suffice.
Next, you need to fund your NDAX wallet by transferring money from your bank to your NDAX wallet. The simplest funding method on NDAX is Interac e-Transfer. Your can fund your crypto wallet on desktop or phone.
Here’s How To Fund Your NDAX wallet:
Next, the Interac eTransfer instruction is displayed.
Next, log into your Canadian bank account and send an Interac to NDAX with the same amount initially requested per the instructions above
The deposit is usually within a few minutes.
Once your NDAX wallet is funded. You’re all set to buy Bitcoin or your choice crypto
On your phone, click on “Quick Trade”
As explained in the “What To Do Before Buying Bitcoin” crypto for beginners course, it’s important to never leave your crypto on any crypto exchange. If you do, you leave yourself vulnerable to hacks, malicious attacks, rug pulls and other fraudulent activities. No crypto exchange is designed to protect your crypto. You’re technically your own bank and your first priority is to secure your crypto investments by storing all your coins and tokens on a crypto hardware wallet such as the Ledger Nano X.
Note that you should never buy your Ledger device on any third-party website such as Amazon, eBay, Costco, BestBuy, WalMart or from a friend. Always buy your crypto hardware wallet(s) directly from the manufacturer to ensure the authenticity of your Ledger Nano X. To access the correct and official website for Ledger, click here.
Learn how to set up your Ledger Nano X in this free crypto course: How To Set Up Ledger Nano X
Watch How To Transfer Bitcoin To Ledger Wallet