Where to Buy Bitcoin in Canada (with No KYC Requirements)
The internet is littered with endless listicles and sponsored ads trying to answer the question: where to buy Bitcoin in Canada.
Sadly, most of the top-ranking pages shill centralized custodial exchanges that require full KYC (know your customer) verification and promote a cesspool of shitcoins.
They're all noise...
If you want to trade in your Canadian cuck bucks for Bitcoin, do it right the first time.
I wish I didn't go the centralized route and share personal government documents for some third party to hold indefinitely. But here we are. I just hope this post helps get you started on the right foot in this fast-paced space.
Thankfully there are places where you can buy Bitcoin in Canada privately and without the permission of some cRyPtO company or your bank.
Let's dive in.
Bull Bitcoin
Bull Bitcoin embodies everything an exchange should strive to be – Canadian or not.
Founded in 2013, Bull Bitcoin has stayed true to its roots and is:
- Bitcoin-only (there is no second best)
- Non-custodial (not your keys, not your coins)
- No-KYC (if you want it to be)
The no-KYC account funding option launched in early May 2023 and it works like a dream.
So how do the KYC-free Bitcoin buys work?
Len from the Canadian Bitcoiners Podcast recorded a video covering the how, but you can also check out the steps below:
If you'd prefer to watch a video about how to buy no-KYC Bitcoin with Bull Bitcoin, check out BTC Sessions' video:
- Visit any Canada Post location
- Ask the cashier to scan your unique "Loadhub" QR (which you can find on the Fund Your Account page)
- Tell the cashier the amount you want to load (between $10 and $999.99)
- Pay with cash or debit card (obviously cash is more private; use it while you still can)
- The cashier will print a receipt (keep it as your proof of payment)
- The funds will be added to your Bull Bitcoin account balance within 30 minutes
- Buy KYC-free Bitcoin and have it delivered straight to your own wallet
3 Reasons to start using Bull Bitcoin for your KYC-free stack
There are other ways to buy Bitcoin in Canada such as Bitcoin ATMs (e.g., Bitcoin Well, Local Coin) and peer-to-peer decentralized exchanges (e.g., Bisq, HodlHodl, RoboSats).
And they're great. I've used almost a lot of them and never had any issues. (Shoutout BTC Sessions for the video tutorials.)
But there are a few pain points that exist, especially when you want to acquire and you're racing against the clock:
- Lower fees – Why pay 5%, 10%, +15% transaction fees (plus flat fees!) to stack no-KYC sats? Bull Bitcoin currently charges a 2% fee and you have the ability to receive it on-chain or via the lightning network.
- More liquidity – I've paid a +20% premium on Bisq for Bitcoin and worst case scenario, I'll do it again. Not because I want to, but because there's fewer people selling Bitcoin in Canada (at least right now).
- Faster speed – Banks have been known to hold e-transfers or wire transfers or even freeze accounts outright. Plus, if you choose to fund your Bull Bitcoin account that way, they have to perform KYC by law. Because cash and debit card transactions aren't subject to those issues, they're a lot faster and easier to process.
If you were looking for an extensive list of where to buy Bitcoin in Canada, sorry to disappoint. I just don't think you need to complicate the decision-making process when you have a time-tested, non-custodial, no-KYC, Bitcoin-only exchange that truly cares about keep your hard-earned sats in your hands.
That said, do your due diligence. Don't just trust what I say; verify it yourself.
If you'd like to hear more about my experience with Bull Bitcoin, feel free to reach out on Nostr (npub1dlsvv4ckeyg5rgmr5mfwcmvzevvreu3w46zpe3g2hy4e6a45xl0spuse5n) or Twitter (@mybitcoinfamily).