If you're Canadian, then chances are that you have trouble purchasing Cryptocurrency. One of the most appealing options for purchasing cryptocurrency in Canada, is Crypto.com. They accept wire transfers, credit card, and debit card purchases. The thing is, depending on what bank you are with, your cards won't work. In Canada, it seems many of the banks have formed a cabal of censorship when it comes to using the credit card to purchase cryptocurrency. This post is to highlight one of the most helpful sites I've come across when determining which payment option is going to work for you. First I am going to highlight a couple of problems I solved along the way.
2 Step Process to 1 Step Process
The first thing I needed to do was cut down the number of steps to get money onto Crypto.com. My process was to buy bitcoin on ShakePay by e-transferring money from my bank. Then I would transfer the bitcoin to Crypto.com, and use it how I please. Even though this was easy, it wasn't ideal. ShakePay does makes things simple, and their no withdrawal fee is very enticing. However, ShakePay has a bit of a markup on the cryptocurrency they sell, it's about 2% of the market price. Compared to Crypto.com's 0% fee promotion, this was simply not acceptable. Being able to buy crypto directly from Crypto.com was a must.
CryptoCanada.tk
It wasn't until I found may way to CryptoCanada.tk that I instantly knew which payment option was going to work for me. The site has a simple intention. Keep an up to date record of which banks are currently blocking transactions to Crypto.com. The site relies on community feedback. That is to say that its not just built by one person with a bank account at all of the Canadian banks. The site has a form at the bottom where you can report your experience with your own bank. Anonymously of course.
* I am not affiliated with CryptoCanada.tk in any way. I genuinely found value in this site as it helped me make investments on Crypto.com easier *
If you like this content, but you're not in Canada, leave me a comment. I will do some research and find the best way that you can buy cryptocurrency on Crypto.com in your country.