{"id":45834,"date":"2023-07-27T17:14:38","date_gmt":"2023-07-27T17:14:38","guid":{"rendered":"https:\/\/hardbacon.ca\/non-classifiee\/mybtc-review\/"},"modified":"2023-08-24T15:20:32","modified_gmt":"2023-08-24T15:20:32","slug":"mybtc-review","status":"publish","type":"post","link":"https:\/\/hardbacon.ca\/en\/cryptocurrency\/mybtc-review\/","title":{"rendered":"MyBTC Review: Purchasing Bitcoin in Canada Made Easy!"},"content":{"rendered":"

Investing in Bitcoin or investing in any cryptocurrency<\/a> can be a daunting task. You have to know more about the industry before you can make an informed and confident decision.. If you\u2019re just starting out and aren\u2019t sure how to go about purchasing Bitcoin as a Canadian, this article is for you.<\/p>\n

Comparing the hundreds of options out there when it comes to cryptocurrency exchanges<\/a> can be tough, and the one you go with will ultimately come down to personal preference. If all you want is exposure to Bitcoin, there are cryptocurrency trading exchanges that specialize in Bitcoin. One of the best in Canada is MyBTC.ca<\/a>.<\/p>\n

Gain exposure to cryptocurrency assets<\/h2>\n

If you want exposure to an abundance of different projects like Ethereum, Dogecoin, etc., MyBTC.ca is not for you. MyBTC.ca<\/a> focuses on Bitcoin and only Bitcoin.\u00a0 You won\u2019t be able to purchase or trade for any other assets that you may be interested in.<\/p>\n

Of course, most people are looking to invest in Bitcoin regardless. Bitcoin is the leading cryptocurrency project and it has\u00a0 the largest market cap right now. With important players like Binance being banned in Ontario<\/a>, people are looking elsewhere when they want to purchase Bitcoin.<\/p>\n

Why is Bitcoin becoming so popular?<\/h3>\n

Bitcoin has become something that is used as a way to fight inflation<\/a> over the years. With the recent interest rate hikes, it\u2019s only a matter of time before Bitcoin’s value increases further. Bitcoin started with a value of under $1, and it skyrocketed closer to $40,000 to $50,000. That kind of return is rare in traditional stock market portfolios. The project’s success now attracts the younger and older generations.<\/p>\n

Financial freedom is hard to achieve if you aren\u2019t born into wealth. Cryptocurrency projects like Bitcoin level the playing field a little bit. That is part of the reason why\u00a0 cryptocurrency is in the media and attracts investment attention.<\/p>\n

Bitcoin’s rise is positively influencing some of the most reliable cryptocurrency exchanges in Canada<\/a>. Users flock to them in by the hundreds of thousands. People are trying to find the next big thing in crypto to replicate the enormous success of Bitcoin.<\/p>\n

About MyBTC<\/h2>\n

Officially launched in 2016, MyBTC<\/a> is a Canadian-based brokerage exchange platform that allows Canadians to purchase Bitcoin in a matter of seconds. You can do so by using Interac eTransfer, Visa or Mastercard credit or debit, Bank Wire, Flexepin Vouchers, cash, or Interac Debit. Most Canadian citizens use MyBTC because it\u2019s straightforward and allows them to invest in Bitcoin with minimal hassle.<\/p>\n

It\u2019s one of the most convenient websites and allows you to purchase Bitcoin in a plethora of different ways, but the customer support that they offer is also outstanding. Duane Seamans, the Chief Executive Officer of MyBTC, has been in the cryptocurrency industry ever since 2014. He maintained a 100% score in regards to his feedback as a broker. He also conducted well over 10,000 trades using P2P (peer-to-peer) exchange platforms and worked with well over 3,000 individuals.<\/p>\n

MyBTC is a verified merchant for the likes of Interact and Flexepin, and they\u2019ve even got an agreement in place with Canada Post for the ID verification of site users. The site takes security seriously. It is also a non-custodial platform. That means that they transfer your coins directly to your wallet.<\/p>\n

All in all, MyBTC is one of the most reputable exchanges available to Canadians at the moment, and will likely grow alongside BTC as time progresses.<\/p>\n

Opening an account on MyBTC<\/h2>\n

\"mybtc<\/p>\n

Opening an account on MyBTC was a seamless process and something that I was quite satisfied with. They ask you for your phone number at the beginning, which is a bit strange when compared to some of the other exchanges I\u2019ve used.\u00a0You\u2019ll need to have a proper mobile number and identification documents if you want to sign up for MyBTC<\/a>. This is par for the course with any other Canadian-based cryptocurrency exchange. Remaining anonymous in the world of crypto is something that most people no longer need or even care about.<\/p>\n

The sign-up process<\/h3>\n

Creating an account on MyBTC<\/a> is very straightforward and it\u2019s one of the reasons why so many people use it these days. You\u2019ll enter your mobile phone number and verify it by entering the code that you\u2019ve been sent via Short Message Service (SMS). This is important, as even logging into MyBTC will require your phone. Signing up for an account with MyBTC means you\u2019ll have to:<\/p>\n

Step 1. Go to the Login\/Signup page and enter your phone number
\nStep 2. Click on the \u201cTEXT ME\u201d button located in a green box
\nStep 3. Enter your email address and verify it by clicking on the link sent to your inbox
\nStep 4. Answer a few questions about why you opened an account and your investment plans
\nStep 5. Go through the ID verification process
\nStep 6. Deposit funds in your account using any of the methods available on MyBTC
\nStep 7. You\u2019re ready to go – with the funds deposited, you can now purchase some Bitcoin!<\/p>\n

Once the funds are accepted and redeemed on your account, you can do whatever you\u2019d like with them. You can choose to buy and sell Bitcoin quickly and easily once you\u2019ve signed up and been verified.<\/p>\n

The verification process<\/h3>\n

Getting verified is an important and necessary step when you\u2019re looking to use MyBTC. Submissions are looked over manually but often take around an hour to complete if you choose to use the in-house verification option available on MyBTC. If you go in-store to a Canada Post to send the information, you\u2019ll need to use the unique barcode that MyBTC generates and emails to you . From there, you can take this barcode into a Canada Post, have it scanned alongside your government-issued photo identification, and you\u2019re good to go.<\/p>\n

If you\u2019ve been automatically verified by any of the MyBTC verification partners, you\u2019ll be expected to provide the platform with:<\/p>\n