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Author: Admin | 2025-04-28
Add Funds from the PayPal dashboard and enter your bank name, 5-digit bank transit number, and your 3-digit institution number. Follow this by entering your account number when requested.Now you’ll just need to choose a cryptocurrency exchange in Canada that accepts PayPal as a payment method. Major crypto exchanges like Binance and Coinbase support PayPal for bitcoin transactions.Head to your chosen cryptocurrency exchange and register an account. The process is not too dissimilar from registering a PayPal account. Create an account and complete the Know Your Customer (KYC) procedure to verify your identity. The KYC procedure just requires you to provide copies of some personal documents like your passport and proof of address – this is just to comply with money laundering legislation and to protect you.Deposit Canadian dollars into your crypto account using PayPal – Just choose PayPal from the deposit options. Nominate the amount you wish to deposit and confirm the transaction. Bitcoin exchanges in Canada will have a minimum deposit amount that you’ll have to meet too.Navigate to the crypto exchanges marketplace and find bitcoin – it won’t be difficult to find and you can also use the exchanges search function. Buy bitcoin with PayPal and choose to store your bitcoin in either the exchanges wallet or your own crypto wallet.Benefits of Buying Bitcoin with PayPal CanadaWhy should you buy bitcoin with PayPal in Canada? Well, although there are several different payment methods to buy bitcoin with in Canada, there are certain benefits to buying bitcoin with PayPal in Canada. Read on to see why we, at Crypto Parrot, hold PayPal in such high regard for buying bitcoin in Canada.No transaction fees – Several other payment methods will cost you money to deposit or withdraw your cryptocurrency to. PayPal, however, offers free deposits and withdrawals, making PayPal one of the cheapest ways to buy bitcoin in Canada.Privacy first – Perhaps you don’t want your bank to know about all the bitcoin you just bought. It is a decentralised currency after all. PayPal is the perfect choice for those who want to keep things private. Your card details and bank details won’t be revealed to the cryptocurrency exchange, nor will the bank know why you funded a PayPal account. With your details not sprayed all over the internet, it is far more difficult for would-be cyber criminals to hack your private information.Faster process – No long card numbers, account details, or multiple passwords are all things using PayPal to buy Bitcoin in Canada avoids. You’ll just need to login to PayPal when requested to confirm the payment.Security features – The best cryptocurrency exchanges all benefit from great security features, like 256-bit SSL encryption. PayPal also features Two-Factor Authentication
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