Category Archives: Bull Bitcoin

Buy Bitcoin in Canada at the Cheapest Rates | Bull Bitcoin

Buy Bitcoin in Canada at the Cheapest Rates

Canada is facing an unprecedented economic and unemployment crisis. Bull Bitcoin has made some changes to how you can buy bitcoin in Canada.

Times are tough for Canadians, and many people have no choice but to use Bitcoin to pay their bills. At the same time, it is more crucial than ever to prepare for the possible collapse of traditional monetary systems by buying Bitcoin. This has meant an increase in demand for services like Bull Bitcoin.

In January 2020 Bull Bitcoin decided to revamp their limits and fees in order to give Canadians a better deal on buying and selling Bitcoin.

The changes have now been implemented to the Bull Bitcoin user experience:

  • All account funding fees have been removed for e-transfer, wire transfer, direct debit and Desjardins transfer (previously 0.25%)
  • Flat fees for all transactions have been removed (previously 0.95$)
  • All fees to Buy Bitcoin have been removed previously (0.5% for large transactions)
  • Bill payment fees have been massively decreased by up to 50% for all transactions above $10,000
  • Transaction limits to buy and sell Bitcoin have been massively increased, up to $10,000,000

In addition, the following chances are now in effect:

  • Proof-of-Residence requirements have been removed
  • KYC thresholds simplified
  • Exchange rate spread has been tightened
  • Bill payment times has been decreased to same day or next business day

Users buying Bitcoin will on average be saving 0.5% per transaction, and high-volume users selling Bitcoin will be saving from 0.5% to 1.75% on transaction fees!

How does Bull Bitcoin make money?

Unlike other exchanges, Bull Bitcoin does not charge trading fees, withdrawal fees or account funding fees when purchasing Bitcoin. They only charge transaction fees on bill payments.

So how does Bull Bitcoin make their money?

The answer is simple: They buy Bitcoin lower and sell them higher! Depending on market volatility, the price at which they sell you Bitcoin will be between 1.3% and 1.8% more than the price they paid for.

This makes Bull Bitcoin, along with Shakepay, the cheapest place in Canada to buy Bitcoin!

Price transparency matters: what you see is what you get

Bitcoin exchanges will often have complicated fee systems that are not publicly visible before you finally go through with the transaction. The calculator you see at bullbitcoin.com will show you the exact amount of Bitcoin you will receive when buying Bitcoin.

If you want to calculate Bull Bitcoin "spread"

If you want to calculate the “spread” (the revenue we make from that transaction), we suggest you use the Canadian Bitcoin Index as reference, available at cbix.ca. The formula is as follows:

(Bull Bitcoin Price - CBIX index) ÷ CBIX index = spread

Here is an example using the live rates taken when this article was written (April 13th 2020) as displayed above.

($9614.21 - $9457.13) ÷ $9457.13 = 1.6%

To give you an idea of just how cheap this is, TD Bank charges 2.2% for converting USD to CAD, making Bull Bitcoin’s exchange rates cheaper than every Canadian bank!

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

Best Way to Buy and Sell Bitcoin in Canada | Lowest Fees

Best Way to Buy and Sell Bitcoin in Canada | Lowest Fees

Welcome to this blockchain and cryptocurrency video posted by BTC Sessions. In this video and article, you will learn how to buy and sell Bitcoin using the platform Bylls.com and BullBitcoin.com. These two sites are essentially the same site and just interlink between one another depending on if you are buying or selling.

Best site to buy and sell Bitcoin

Bylls.com and BullBitcoin.com are the goto sources that I use to buy Bitcoin with my Canadian dollars and to sell my Bitcoin when I need to exchange it for Canadian dollars.

The reason I like using this platform is that the fees are lower than buying Bitcoin using other platforms such as Binance, Coinsquare, Coindesk, Changelly etc. The fees for these platforms will cost you more money. If you are only putting a little bit of FIAT ($CAD) money into Bitcoin or other cryptocurrencies each month the fees can really add up. You don't want to lose 10% of your investment towards fees right off the get-go... That is no way to start investing.

BullBitcoin.com shows you the rate of which they buy and sell bitcoin and give you very transparent information. You know exactly how much $CAD buying power you will have in your account to transfer into BTC before confirming your transaction.

The first step is to sign up for an account. Go to Bylls.com and create an account. You will need to provide a phone number, your name, and connect a bank account.

Once you have done this you can send money directly from your bank account to your bylls.com account. By sending money to your Bylls.com / BullBitcoin.com account you are creating a voucher that is redeemable for Bitcoin.

Methods you can use to fund your account

  • E-transfer - this is the fastest option and there is no fee for sending money this way, at least not on Bylls.com / BullBitcoin.com's side. This is the method I have used in the past a number of times.
  • Direct debit - this is also a good way but is a bit slower. There is no fee for sending money this way, at least not on Bylls.com / BullBitcoin.com's side.
  • Wire transfer - slower and your bank charges you fees
  • Desjardins transfer - I'm not familiar with this method
  • Deposit L-CAD - I'm not familiar with this method

See the image below as an example. You can see that the amount you are sending is the amount that will receive. The way that Bylls.com / BullBitcoin.com make their cut is by selling the actual Bitcoin for a slightly higher price than the current market price. However even though they do this the % increase is still better than the fees that you would be charged when buying through an exchange or when using a credit card.

Buy and Sell Bitcoin in Canada Lowest Fees

Once your funds are available in your account you can either wait or convert your $cad voucher into BTC rightaway once its available. You will simply copy and paste your BTC wallet 'public address' into the destination address. Your BTC will then be sent to your wallet. I personally send my BTC directly into my Ledger Hardware Wallet since this is the most secure way to store cryptocurrency. Or if I am wanting to purchase other cryptocurrencies with my BTC I'll send it to an exchange such as Binance. I will use the exchange to buy cryptocurrencies such as Ethereum, Chainlink, Kyber Network, Tezos, etc. Once I buy make the trade I will then send the new digital asset to my Ledger Hardware Wallet.

Here is an example of the cost for buying BTC with Bylls.com / BullBitcoin.com

Coinmarketcap price for BTC right now at time of writing this = 7168 US = 10063 CAD

Bylls.com / BullBitcoin.com sells BTC at a rate as of this moment at = 10316 CAD

1-(10063/10316)*100=2.45%

If I were to send $1000 CAD into BTC I would have a fee of $24.50 which is not to bad.

Sources used on this page:

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Search for a Digital Asset or ICO

Popular Links:

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Recently added crypto videos

Cryptocurrency influencers and blockchain channels

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Blockchain marketing and public relation services
Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

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