How to Trade Bitcoin for Profit with QuadrigaCX & Paxful

How to Trade Bitcoin for Profit with QuadrigaCX & Paxful

  • QuadrigaCX is Canada’s largest and most well-established cryptocurrency exchange
  • Trading with QuadrigaCX is just as risky as with other trading platforms. However, there are ways to leverage trades for guaranteed profits
  • Before starting trading, new traders need to draw up a bullet-proof trading strategy and be ready to exercise cast iron self-discipline

How to Trade Cryptocurrency for Profit Using QuadrigaCX

Cryptocurrency trading is not for the faint-hearted. At present, it is estimated that 80% of new-to-market traders lose everything in their first 90-days of trading. Did you know, though, that it is possible to trade coins like Bitcoin for profit, even during market downturns?

The Definitive Crypto Trading Cheat Sheet

Before reading this guide, it is important to note that all trading carries significant risk. New cryptocurrency traders should, therefore, never invest more capital upfront than they can afford to lose. Much more importantly, traders need to have cast iron self-discipline.

Step 1. Buy Bitcoin on QuadrigaCX

The first step when trading cryptocurrency is to buy Bitcoin. Bitcoin is the reserve currency of the cryptocurrency market. Much more importantly, to maximize future trading profits, it is essential to buy Bitcoin for the lowest price possible.

Why QuadrigaCX?

For Canadian traders, QuadrigaCX fees are capped at 0.5% for Bitcoin purchases. (Compared to Coinbase fees of 1.49%.) As a bonus, QuadrigaCX also allows Canadian users to exchange Bitcoins to CAD and have cash deposited directly into most Canadian bank accounts.

Step 2. Sell Bitcoin Immediately at Paxful

After buying Bitcoin, most pro-traders exchange coins for promising altcoins. Did you know, though, that Bitcoin can be sold immediately, for up to 30% more than its current market value?

Peer to peer exchanges Paxful, cater for the ‘underbanked.’ Namely, those who cannot buy coins at regular exchanges like QuadrigaCX. Instead, aspirant investors buy coins directly from people who can.

Why do Local Bitcoins & Paxful Command Such High Premiums?

In theory, buying Bitcoin on QuadrigaCX, before selling coins on Paxful is easy. However, selling coins on exchanges like PaxFul is also phenomenally high-risk.

  • People using PaxFul to buy Bitcoin, often don’t have access to regular bank accounts, credit cards, or debit cards
  • Preferred payment methods will often include PayPal, Western Union, and different pre-paid credit cards
  • PayPal and pre-paid credit card payments can be easily reversed after being settled

Because of the high-risk of fraud involved with peer to peer exchanges, sellers can sell coins for a much higher markup.

How to Sell Bitcoin on Paxful with Relative Safety

As a rule, selling Bitcoin on Paxful can never be undertaken 100% safely. However, traders can mitigate many risks.

  • Individuals selling coins should only ever accept secure payment methods like Western Union, MoneyGram, and direct bank deposits
  • Coin buying requests should only ever be accepted from verified Paxful users who are willing to share personal ID and verified payment details
  • Selling Bitcoin on Paxful involves placing coin amounts into an escrow account. Without exception, sellers should only ever release coins when buyer payments have fully cleared

Could You Buy Bitcoin on QuadrigaCX & Sell Coins on Paxful?

Many fiat cash payment methods supported by Paxful are reversible. However, Paxful facilitates over 20,000 BTC transactions per day. (Most of which settle without any problems.) This being the case, buying Bitcoin on QuadrigaCX before selling coins on Paxful can prove lucrative. All that aspirant traders need to do, is thoroughly familiarize themselves with what risks are involved.      

Buy Bitcoin with Interac e-Transfer in Canada

MyBTC.ca has now added the ability for you to buy Bitcoin on with Interac e-Transfer which is offered by almost all Canadian banks & credit unions.

How can I buy Bitcoin with Interac e-Transfer today?

Step 1. On the homepage select “Buy Now” under the Interac e-Transfer payment option to start the account and order creation process.

Step 2. Enter your profile information and then complete any 2 methods of identity verification presented on the verification page. If you have already completed 2 methods of identity verification then skip to the next step.

Step 3. If you have a balance you will be able to complete the transaction that same instant. If you do not have a balance, start the account funding process by requesting the Interac e-Transfer instructions to be emailed to you.

Step 4. After you have sent the Interac e-Transfer, following the special instructions they provide, it will take approximately 1-2 hours (up to 12 hours in rare instances) for compliance to review and their payment processor to deposit. Once the funds have been added to your account balance you will receive an email notification advising you to create a new order and instantly complete the transaction for your Bitcoin.

If you only pass 1 of 2 verification methods, the next best solution is to buy Bitcoin using Interac Online or Flexepin vouchers.

Interac Online is only compatible with client cards without a Visa/MasterCard logo on them. Therefore, Interac Online still works with older TD client cards and those issued by numerous participating credit unions featured on this page: http://interac.ca/en/interac-online-consumer.html

You can purchase Flexepin vouchers online at TopMeUp.ca with Interac e-Transfer or Visa/MasterCard debit to redeem on MyBTC.ca for Bitcoin.

You may also purchase Flexepin vouchers at any Canadian Tire Gas bar, Hasty Market, Daisy Mart or at 4,000+ other locations nationwide. Locate the nearest Flexepin retailer here: https://mybtc.ca/flexepin-voucher-purchase-locations

Buy Bitcoin: CIBC, Scotia & Simplii

You will be pleased to know that MyBTC.ca has added a new Instant Debit payment method that helps customers who bank with CIBC, Scotia & Simplii Financial buy Bitcoin in seconds on https://mybtc.ca.

Payment using Instant Debit is performed by logging into your online banking over a secure payment gateway for instant authorization and debit of funds from your bank account to MyBTC.ca as the merchant.

How can I buy Bitcoin today?

Step 1. Create your order: https://mybtc.ca/buy-bitcoin-with-instant-debit-canada

Step 2. Navigate to the verification section https://mybtc.ca/verification and submit the Photo ID & Address verification requirements — agents are online and available to have you verified ASAP

Step 3. Navigate to the homepage and start your order with Instant Debit by pressing the “Buy Now” button

Step 4. Create your order by entering the amount of Bitcoin or Canadian dollars you would like to process for along with your Bitcoin wallet address, phone number and SMS PIN; sent via text message

Step 5. Select your account type, institution, and enter your 5 digit transit number, account number (usually 7 digits) and proceed to pay by logging into your online banking through a secure payment gateway.

Step 6. Complete payment for your order

If you do not have an account with CIBC, Scotia, Desjardins, Simplii Financial or National Bank, the next best solution is to buy Bitcoin using Interac e-Transfer or Flexepin vouchers.

You can purchase Flexepin vouchers online at TopMeUp.ca with Interac e-Transfer or Visa/MasterCard debit to redeem on our site for Bitcoin.

You may also purchase Flexepin vouchers at any Canadian Tire Gas bar, Hasty Market, Daisy or at 4,000+ other locations nationwide. Locate the nearest Flexepin retailer here: https://mybtc.ca/flexepin-voucher-purchase-locations

QUEBEX FINTECH Inc. Launches 1st Canadian P2P Bitcoin Exchange

Screen Shot 2017-02-23 at 4.35.51 PMQUEBEX FINTECH Inc. has just launched the first Canadian P2P Bitcoin Exchange at www.Quebex.com. Canadians now have a safer way to buy and sell Bitcoins.

Unlike other P2P Bitcoin exchanges, users who register with Quebex face a rigorous vetting process with many layers of security checks to help weed out bad actors. Since implementing their current verification policy in late 2016, Quebex has seen hundreds of trades without a single instance of fraud.

Quebex is also a federally registered Money Service Business with FINTRAC. Their registration with FINTRAC should reassure clients that we take exhaustive precautions to ensure that the Bitcoins you buy come from legitimate sources. By adhering to these standards and proactively monitoring transactions, Quebex is making Bitcoin trading safer for everyone who uses its services.

A P2P exchange is a marketplace where users can buy and sell Bitcoins directly to and from each other.The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling Bitcoins. Bitcoin prices and fees on www.Quebex.com have traditionally been much lower than on competing sites.

Accepted payment methods include:

InteracTM Online, InteracTM Email Money Transfers, Cash, Wire Transfers, Bank Deposits and PayPal. More payment options are coming soon. Sign up at: Quebex.com

Buy Bitcoin w/ Flexepin Voucher

Bitcoin with Prepaid CreditIn addition to accepting prepaid non-reloadable credit cards, www.MyBTC.ca now accepts Flexepin Vouchers.

Flexepin vouchers can be purchased with cash or debit at 4,000+ Retail Purchase Locations Canada-wide: https://mybtc.ca/flexepin-voucher-purchase-locations . Once you have purchased your Flexepin voucher featuring a unique 16-digit code, you can redeem it on www.MyBTC.ca to buy Bitcoin immediately.

MyBTC.ca – Buy Bitcoin with Prepaid Credit Card

Bitcoin with Prepaid CreditMyBTC.ca gives consumers the opportunity to buy Bitcoin in seconds with prepaid non-reloadable credit cards without having to undergo ID verification.

How to Buy?

Step 1 – Purchase a prepaid non-reloadable Visa, MasterCard or Amex credit card sold at several locations near you and thousands nation-wide. Popular retailers include 7-11, Shoppers Drug Mart, your nearest corner store & many more: VanillaPrepaid.ca

Step 2 – On the “Buy Bitcoin” page of www.MyBTC.ca you enter the exact amount of Bitcoin you want to buy or the dollar amount that you would like to process the card for. You are then prompted to enter a Bitcoin wallet address you want to send the Bitcoin to followed by your phone number for mobile PIN verification. Once verified, simply enter your prepaid non-reloadable credit card information, press “Pay”, and your Bitcoin will be sent. It’s that easy! www.MyBTC.ca

Canadian Bitcoins Brokerage

Canadian BitcoinsLocated in Ottawa, Ontario, CanadianBitcoins.com is Canada’s longest-standing, singly-owned Bitcoin Brokerage, having served customers nation-wide for nearly 5 years.  With choices ranging from basic accounts for privacy conscious individuals to fully verified accounts, CanadianBitcoins.com customers enjoy many convenient options for the purchase and sale of Bitcoins and Litecoins. Basic Account holders can take advantage of our Cash-in-Office and Cash-Through-Express-Mail transactions, while Verified Account holders have the added benefit of Interac Online, Moxipay, Direct Debit, Direct Deposit and Online Bill Payment. Their office is open all weekdays from 9-5pm EST. 24-7-365 instant purchases are available with Interac Online and Moxipay to established verified account holders.

24/7 Exchange in Canada

24/7 Bitcoin Exchange247exchange.com is a licensed international Bitcoin exchange service. Allows you to buy, sell, exchange Bitcoin and altcoins in Canada offering a big variety of payment and withdrawal options including the instant ones. Accepts credit/debit cards (including prepaid ones), Interac Online, Direct Debit (EFT/eCheck), bank transfers (in both CAD and USD), express cash transfers, etc. The service is easy-to-use, secure and fast. Besides Bitcoin the exchange works with Litecoin, Peercoin, Namecoin. Has 24/7 support. The service is provided by InterMoney Exchange™, the group of financial companies.  Join Now: www.247exchange.com