The list of Canadian crypto exchanges below contains exchanges that allow you to buy bitcoin and crypto with Interac e-Transfer.
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bitbuy bitbuy allows you to buy bitcoin and crypto online with Interac eTransfer instantly.
New users will receive a free $50 CAD bonus once they deposit at least $250 CAD. Visit bitbuy's Website
Netcoins Using Netcoins you can buy and sell Bitcoin, Ethereum, Litecoin and other major crypto with Interac e-Transfer.
New users will receive a $10 CAD bonus once they complete $100 in cumulative transactions. Visit Netcoins's Website
Coinsquare
Coinsquare is Canada's largest crypto and Bitcoin exchange. It allows users to buy and sell Bitcoin, Ethereum, Litecoin and other coins in Canada.
Customers can buy and sell bitcoin and ether using Interac e-Transfers, bank transfers and SWIFT.
MyBTC.ca
MyBTC.ca allows Canadians to buy between $20-$250,000 worth of bitcoin. ID for verification can be submitted online or done in-person at any Canada Post location nation-wide. Support available through live chat, SMS, phone or email.
MyBTC.ca payment options include the following:
Interac e Transfer is an electronic payment platform that allows its users to send and receive money via text or email, much like Zelle or Venmo in the US(1).
Buying Bitcoin with Interac e Transfer is quite easy.
Interac works very similarly to Venmo or paypal. Most bank accounts include it automatically, so it easily allows you to send money to friends, family and businesses via an email address or phone number. All the receiver has to do it connect either of these to their checking account. There are now Bitcoin exchanges, such as Bitbuy and Coinberry, that will let you use e transfer to buy on their platform.
As long as the exchange you are sending money to is safe, then yes, it is perfectly safe to use Interac to buy Bitcoin.
Only Canadian residents will have access to e Transfer, so there is no effective way for US residents to use e Transfer as a payment method for buying Bitcoin.
CIBC does not appear to have issued any sort of comment on whether or not they allow their customers to use their services to buy Bitcoin(2).
It does appear that many users have had a hard time using Interac to fund their exchange accounts using a CIBC bank account. So while they may not technically prohibit it, they don't seem to make it very easy either.
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