Connect with us


How to Spend Bitcoin: Canada Cryptocurrency Splurge?



The popularity of Bitcoin in Canada keeps growing, and so does the number of ways you can spend this cryptocurrency. Numerous retailers accept BTC, and you can even donate your digital coin or pay bills with it.

In this entry, we’ll cover some of the best methods to spend Bitcoin. Canada-based users can be much more flexible with their cryptocurrency. Let’s see how.

Spending Your Bitcoin in Canada: An In-Depth Guide

Bitcoin isn’t only meant for storing. There are also many excellent ways to spend this cryptocurrency:

Go Shopping

You’re no longer restricted to cash or credit cards when shopping. Canadian retailers now accept Bitcoin, enabling you to purchase your favourite products or services with cryptocurrency.

Here are some of the stores that support BTC payments:

  • ca – This is a prominent tech retailer. They started accepting BTC seven years ago from USA customers, and Canadians can now take advantage of this perk.
  • Birks Group – You can buy diamonds, pearls, vintage and gold watches from Birks Group with Bitcoin. Bear in mind that not all of their stores accept cryptocurrency.
  • Toronto Brewing – Whether you need craft beer or home brewing equipment, Toronto Brewing might be your best option. They let you pay with BTC both online and in their brick-and-mortar store.
  • Overstock – This is a US-based retailer that accepts BTC payments and shipments to Canada. The company offers beds, lamps, couches, and other furniture.
  • Park and Finch – Park and Finch, one of the most popular eyewear brands in Canada, accepts Bitcoin. They provide low transaction fees, making them perfect both for Canada-based and international purchases.
  • Ledger – Ledger is a fast-growing producer of cryptocurrency hardware, and it wouldn’t make sense if they didn’t allow BTC payments. They also support Litecoin, Ethereum, and a few other cryptocurrencies.

Load Your Crypto Onto Prepaid Cards

The choice may be limited, but some Canadian prepaid cards can be loaded with BTC and used for purchases. After converting your digital coins to dollars, you can reap the benefits of this convenient payment method. Primarily, prepaid cards protect personal information and offer anonymity because they’re not linked to credit, savings, or checking accounts.

Pay Your Bills

Another great way to spend your Bitcoin is to pay the bills. Various platforms enable you to exchange cryptocurrency for dollars. The funds can be sent to electricity, utility, or any other company with a bank account.

Donate Your BTC

Several Canadian charities accept Bitcoin donations. Cryptocurrency donations are often more beneficial than fiat payments. When the value increases, so does the gift for your charity.

Purchase Gift Cards

Buying gift cards is a highly flexible option to spend your Bitcoin. More than 100 Canadian retailers accept them, such as Starbucks, Amazon, and Uber.

Furthermore, you’re not limited to just Bitcoin when purchasing your gift cards. Many platforms support Litecoin, Dash, Monero, Dogecoin, Ethereum, and other cryptocurrencies. The only downside is that the transaction fees are sometimes too high.

Sell Your BTC to Exchanges

You can also use cryptocurrency exchanges to convert Bitcoin into cash. Here are the most reputable platforms in Canada:

  • Binance – This is a widely-used crypto exchange, offering a lot of value for beginners and advanced users.
  • Bitbuy – Bitbuy is another popular platform with various features that can meet your Bitcoin trading needs. It provides terrific verification methods and compliance with security rules.
  • Coinbase – Coinbase is an easy-to-use cryptocurrency exchange, featuring a streamlined, customer-friendly design.

Use Crypto ATMs

Canada has over 1,000 cryptocurrency ATMs. Even though most of them only let you buy Bitcoin, some devices enable you to convert BTC into dollars.

Leverage Bitcoin Marketplaces

While spending Bitcoin on marketplaces is another form of shopping, it works slightly differently. Platforms like Purse enable you to search for your products on Amazon or assemble your wish list while receiving substantial discounts for paying with cryptocurrency.

Once you’ve found the desired item, you can select your discount. Keep in mind that opting for higher discounts will entail longer shipping times.

Save BTC for a Rainy Day or Shop Your Heart Out

While it’s wise to hold onto your BTC and hope for skyrocketing values, you may also want to occasionally spend Bitcoin. Canadabased cryptocurrency owners have a number of options, such as shopping, donations, gift cards, and paying the bills. Regardless of your choice, you’ll enjoy convenient and low-risk transactions.

Continue Reading

Recent Posts