How to buy bitcoin in Canada (and find out where, too) Sep 25th

The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.

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How to buy bitcoin in Canada (and find out where, too)

– moneysense.ca

Canadian investors interested in buying bitcoin and other cryptocurrencies have two main options: crypto ETFs and buying crypto directly. Let’s look at both options.

Buying bitcoin through an ETF

An ETF (exchange-traded fund) is a “basket” of securities (groupings of individual stocks, or government and corporate bonds) that you acquire in a single purchase, similar to a mutual fund. Unlike a mutual fund, however, an ETF can be bought and sold on a stock exchange throughout the trading day—just like a stock. They also carry lower fees than mutual funds.

ETFs are an easy way to get bitcoin into your portfolio, because if you already have a brokerage account, there are no additional steps you need to take in order to purchase a bitcoin ETF. At the time of this writing, there are a dozen crypto ETFs in Canada, some holding bitcoin, some holding ethereum, and some holding both. The very first, Purpose Bitcoin ETF (BTCC), launched on the TSX in February 2021, followed by Evolve’s Bitcoin ETF (EBIT) and CI’s Galaxy Bitcoin ETF (BTCX)…

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