If you are interested in investing in cryptocurrencies and are wondering how to buy Ethereum in Canada, Speedy Fina is here to explain how to access ETH and give you a few tips and tricks to maximize your investing potential.
Like with any investment, understanding what you are investing in is crucial to your success and return on your investment. You might also be wondering how to buy DADDY coin or how to buy Dogecoin, and we will address these specifically in another blog post. For now, let’s focus on ETH.
Ethereum is the native digital currency of a decentralized global software platform known as the Ethereum network. The development of this network is based on Vitalik Buterin’s 2013 proposal, as an open-source platform where entry barriers for developers to craft their own smart contracts and decentralized apps would be lowered substantially.
ETH is extremely secure and perceived to have significant long-term investment potential. Since it was first created, it has grown exponentially and now attracts hundreds of millions of users worldwide. Investing in ETH is investing in much more than a digital currency, as this platform is expansive and has a wide range of applications.
There are a few steps to how to buy Ethereum in Canada: you have to first create an account with a cryptocurrency exchange platform, then add funds to your account via a digital wallet. You will then be able to start purchasing and selling ETH.
To ensure that all your transactions and private information are safe, you will want to make sure you are choosing a reputable cryptocurrency exchange platform that has been around for a while.
There are popular and very secure platforms that answer your question on how to buy Ethereum, like Coinbase, Kraken, Binance, Etoro, Ledger and more. Make sure you do your research.
If you are wondering how to buy Ethereum in Canada, you might also be wondering how to buy Shiba Inu coin or how to buy Pepe Coin. They are alternatives you might want to consider.
Regardless of the cryptocurrency you choose, you will have to find a way to finance your investment. Rather than dipping into your savings, you might want to take out a loan. This is where Speedy Fina can help.
Our loans are lightning fast and can hit your bank account within the hour. As you know, ETH value can fluctuate and buying Ethereum during a dip in the market and selling it as it increases in value is where you can make big bucks.
The advantage of choosing Speedy Fina is that you can keep an eye on ETH value and jump on a trend as it is happening, since you know that you can receive the cash you need in no time.
Applying for a Speedy Fina loan is extremely easy and quick. The entire application and approval process is completed online. You can apply within minutes, after which you will get approved instantly by our automated system and then the cash will hit your bank account within the hour.
There are alternative ways to finance your cryptocurrency investment if you don’t yet understand the advantages of relying on instant loans.
You could opt to finance your digital currency investment with digital currencies as well. Though if you choose this avenue, it is important that you understand the significant risks involved.
In fact, crypto-lending can be quite risky. Why? For the same reason, your investments can turn out to be quite profitable. What we mean by this is that you must understand that fluctuations are significant when it comes to cryptocurrency. This means that your crypto-assets are quite volatile and your loan value can fluctuate accordingly.
You could opt to borrow from a financial institution like a bank. Don’t forget that if you do, the application process can be lengthy and requires a significant amount of documentation.
You also have to keep in mind that bank loan approvals will be based on the risk you represent, meaning that if you have a mediocre or poor score, chances are your loan will be denied.
Before you get too excited about making a profit, you will want to keep in mind the legal and tax implications for your investment.
Digital currencies, unlike the Canadian dollar, are not legal currency. This means that, unlike regular currency, there is no government implication or protection.
In Canada, 100 % of your cryptocurrency income will be taxed, and so will 50 % of your gains. As you can see, this is something that you need to be mindful about.
