If you are based in Canada and looking for a good exchange to buy bitcoin, then Coinsquare is one very good option for you to look into and we will be giving an honest review in this post.
Bitcoin is a well-known cryptocurrency that trades using the ticker symbol BTC. It uses the SHA256 algorithm and Proof of Work for mining new coins, similar to Ethereum mining. Bitcoin was founded on 2009-01-03. There has been a lot of cryptocurrency news about BTC lately, which you can see below.
You can buy and sell BTC for any major cryptocurrency, like ETH, LTC, and XRP or fiat currency such as Canadian dollar, US dollar, and Euro.
Trading cryptocurrencies is like foreign exchange of fiat currency – you trade BTC for ETH the same way you trade CAD for USD. To learn how to buy Bitcoin / BTC, scroll down to the “How to buy BTC section”
There is a max supply of 21,000,000 BTC that will ever be available, based on mining efforts through the Proof of Work miners. This means learning how to buy Bitcoin / BTC is relatively time sensitive as all coins could in theory be purchased at some point in the future.
Don’t worry, though, that’s likely decades away for most major cryptocurrencies. However, new coins will becoming more rare as time goes on given BTC’s increasing difficulty to mine every 2016 blocks, which is built into the underlying blockchain technology of Bitcoin.
The network hash rate, or the amount of energy being contributed to the network by computers around the world, is 47,626,925,734 H/S.
All of these factors and more contribute to cryptocurrency prices, which is a key data point to know when learning how to buy Bitcoin / BTC. An official system of cryptocurrency was built by the founder of Bitcoin, a mysterious figure known as Satoshi Nakamoto.
This person, or group of people, is unknown but put into the world the blockchain technology system we have today. Satoshi Nakamoto added maturity to the idea of crypto mining, Bitcoin wallets, and more. Other influencers like Vitalik Buterin, founder of Ethereum and Ether, brought forth things like smart contracts, which paved the way for cloud mining.
To see more about Bitcoin’s price, check out their CoinMarketCap page. On CoinMarketCap, you can see the exchange rate for BTC. To check out cryptocurrency news about Bitcoin and BTC, scroll down to see the latest headlines.
Step by Step Guide to Buy Bitcoin with Coinsquare
Buying Bitcoin is just like foreign exchange of fiat currencies like the Canadian dollar, US dollar, or Euro. You trade coins that you have – either a cryptocurrency or a dollar – for Bitcoin, which trades as BTC, like how the US dollar has a “ticker” of USD.
To buy Bitcoin, simply follow these steps:
1. Sign up on Coinsquare and verify your account
This is the first step to buying BTC. Verifying your account ensures that we properly connect your funds to your account.
Funding is like putting gas into a car – it helps you get where you want to go.
In Quick Trade, all currencies you can trade for on Coinsquare are in a drop down list.
You’re all set!
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