Just about everyone has heard of bitcoin 鈥� the first and, by far, the most popular form of 鈥渃ryptocurrency鈥� (also known as digital currency or, simply, 鈥渃rypto鈥�).
Bitcoin has been taking over the news in the global economy for years 鈥� even more so in the last few months. Why? Because even in tough times, its value has continued to soar. Financial analysts point out that $1,000 worth of bitcoin purchased in 2010 was worth $287.5 million by the end of 2020.
Earlier this year, Tesla purchased USD$1.5 billion worth of bitcoin. Visa Inc. began accepting cryptocurrencies as a form of payment. And in February, RBC Capital Markets (a division of Royal Bank of Canada, one of the largest banks in the world) recommended that Apple get involved in crypto.
But while big institutions and corporations are buying bitcoin, how can an ordinary 91原创 do the same?
That鈥檚 where Netcoins comes in.
What is Netcoins?
听is a 91原创-based company that makes it easy and safe to buy bitcoin in Canada. Its online trading platform lets you buy bitcoin and other cryptocurrencies (including Ether, XRP, Litecoin and more) anywhere, anytime in just minutes.
How does it work?
鈥淚t鈥檚 super-easy,鈥� says Ayelen Osorio, Content & Community Manager at Netcoins. 鈥淵ou go to the Netcoins website or download our app, create an account and get verified.鈥�
鈥淥nce verified, your first step is to send 91原创 dollars into the platform via an e-transfer or one of the other funding methods we provide. Once those dollars are in your Netcoins account, you can use them to buy bitcoin or any of the six cryptocurrencies we offer. For example, if you select 鈥楤UY BITCOIN,鈥� you鈥檒l be asked how much you'd like to spend and shown how much bitcoin you鈥檒l get. Click 鈥楥ONFIRM鈥� and that鈥檚 it. Congratulations 鈥� you鈥檝e just bought your first bit of bitcoin in a couple of minutes!鈥�
Netcoins users enjoy 0% funding fees and can easily fund their account with an Interac e-Transfer, bank wires or online bill payments. And because Netcoins allows you to buy bitcoin in fractions, you can get started for as little as $10.
Can you sell bitcoin, too?
Once you buy bitcoin or another cryptocurrency, does that mean you鈥檙e stuck with it? Not with Netcoins 鈥� you can 鈥渃ash out鈥� anytime.
鈥淪elling is just as easy as buying bitcoin,鈥� says Osorio. 鈥淵ou just go into the Netcoins platform, and on the trade page, click 鈥楽ELL鈥� to convert your crypto back into 91原创 Dollars.鈥�
Cashing out is always free, and you can send the funds straight to your bank account. This is why Netcoins is excellent for people who are cautious about crypto or curious to just try it out. And just like buying, selling only takes a few minutes.
It鈥檚 important to note that instead of selling, users can also choose to hold onto their cryptocurrencies in the long term, either within the Netcoins platformor by transferring it into their own external,crypto wallet.
Why is Netcoins the most trustworthy way to buy bitcoin?
One of the biggest reasons why 91原创s are reluctant to buy bitcoin is because of a perceived lack of security. This is understandable 鈥� there are an overwhelming number of crypto exchanges in Canada, as well as ATMs designed exclusively for buying crypto, and it鈥檚 unclear who鈥檚 behind them.
Netcoins, however, is fully transparent and safe. 鈥淥ne reason why 91原创s trust us is because we鈥檙e the only 91原创 crypto exchange in Canada that鈥檚 public,鈥� says Osorio, noting that Netcoins is publicly traded on the 91原创 Stock Exchange (under BIGG). 鈥淲ith private exchanges, 91原创s don鈥檛 get insight into how they鈥檙e operating or managing their financials. But because we鈥檙e a public company, we publish all our financials every quarter.鈥�
All in all, says Osorio, Netcoins has fast become a favourite way to buy bitcoin in Canada because 鈥渋t allows people to have complete power over their finances. Our open-loop system means your dollars and cryptocurrency flow in and out of your Netcoins account anytime you want, no matter where you are. It鈥檚 really the best way to buy bitcoin in Canada.鈥�
To learn more about Netcoins, set up an account, and start buying and selling cryptocurrencies, visit听. The Netcoins app is available for download at the听听and听.
