October 25, 2023
How to Buy Crypto with Interac e-Transfer in Canada via BitPay
For our crypto community in Canada, buying crypto with Interac brings a whole new level of convenience to the crypto buying process. BitPay offers Interac as one of the many payment methods when you buy Bitcoin and other cryptocurrencies in the BitPay app or website. This guide will show you how easy it is to buy Bitcoin with Interac.
How to buy crypto with Interac in Canada
BitPay users in Canada have two easy ways to buy Bitcoin and other cryptocurrencies with Interac e-Transfer, via the BitPay Wallet app or on the BitPay website. Each is a convenient method of paying for crypto straight from your Canadian bank account and managing your assets with a self-custody wallet.
Download the BitPay app from your preferred app store, or scan the QR code below. Already have the BitPay app? Skip this part. Step 2: Tap “Buy Crypto”
Tap the "Buy" button on the app’s home screen to buy crypto from your bank account. In addition to Bitcoin (BTC), BitPay supports more than 60 of the most popular cryptocurrencies and stablecoins including Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC) and many more. Step 3: Choose your amount and the cryptocurrency you wish to purchase
Enter the amount you’d like to convert to crypto, and the coin you want to convert. Step 4: Choose 'Other' as your payment method
Along with Interac e-Transfer transactions, you can also buy crypto with a credit card, Apple Pay, Google Pay, or alternative local banking methods (where applicable). Step 5: Review and chose your offers
BitPay partners with multiple crypto marketplaces to ensure you’ll always get the best possible rates, with no hidden fees or excessive markups. Choose the best offer available for you, and you’ll be automatically taken to one of our partner sites to enter your banking details and complete the transaction.
Note: Currently, Banxa is the only partner that offers Interac payment options to Canada-based crypto buyers.
Step 1: Choose your crypto
Visit BitPay's buy crypto page. Select from the top cryptocurrencies including Bitcoin, Ether, Litecoin, Bitcoin Cash, USDC, Polygon and tons more. Enter the amount of crypto you’d like to buy. Step 2: Send to any wallet
Enter the address where you’d like to receive your crypto. You can send your crypto to nearly any self-custody wallet as long as you know your wallet address. If you don't already have a self-custody wallet, or would like to store your crypto in a new wallet, you may create a free BitPay Wallet. Step 3: Pay with bank account and receive your crypto
BitPay aggregates offers from multiple partners to ensure you get the best possible rate. Look for the “Best Offer” flag. Once you’ve chosen your preferred offer, you’ll be taken to one of our partner sites to enter your banking details and complete the transaction. Your crypto will be sent to your wallet address and available to use near-instantly.
Note: Currently, Banxa is the only partner that offers Interac payment options to Canada-based crypto buyers.
Buy Bitcoin with Interac instantly
Benefits of buying crypto with Interac via BitPay
Why buy crypto with Interac?
Instant Interac transactions
Securely and conveniently convert fiat from your bank account to crypto
Low fees
Bank transfer fees typically lower than credit cards
High limits
Buy up to $30,000 daily
Higher authorization rates
Interac payments typically see higher authorization rates compared to traditional payment methods
175+ coins across 20 chains
Buy a diverse array of coins and tokens to build your portfolio
Secure, self-custody experience
You still own 100% of the crypto you buy; no third party custody
Which cryptocurrencies can I buy with Interac via BitPay?
Through the BitPay app or website, you can buy more than 60 top cryptocurrencies and stablecoins using your bank account to pay.
And many, many more. Use the BitPay widget to see all of the cryptocurrencies available for purchase.
More about Interac e-Transfer
Interac e-Transfer, a widely-used electronic money transfer service in Canada, has become a favored payment method for buying Bitcoin and other cryptocurrencies. Leveraging its reputation for speed, security, and direct bank-to-bank transfers, many individuals prefer using Interac e-Transfer to swiftly fund their crypto wallets and acquire digital assets.
What to do with your crypto after buying with a bank account transfer
Once you’ve obtained your Bitcoin or other cryptocurrency, you’re free to hold, swap or spend as you see fit. The BitPay app gives you total control over all of your assets, making it easy to:
Hold and store securely
Keep your crypto assets safe and secure in an easy-to-use, self-custody crypto wallet. You can even import additional wallets and manage them all from one place.
Swap coins
Easily exchange one digital asset for another in the BitPay app. Swap Bitcoin for Ethereum, Dogecoin, Bitcoin Cash and many other top cryptocurrencies.
Spend your crypto
You can also spend your crypto right from the app, either by connecting your wallet to a merchant that accepts crypto payments or buying gift cards with crypto from some of your favorite brands. Check out our Merchant Directory for a searchable list of businesses that accept crypto payments through BitPay.
