Quite recently, major banking institutions that service Vancouver, BC, such as TD Canada Trust and Scotiabank, have begun declining Bitcoin purchases, and in some cases, they’ve gone as far as closing down the accounts of individuals that exchange Canadian dollars for digital coins. If you’re looking to avoid the emerging difficulties associated with buying Bitcoins via your local bank account or credit card, you do now have the option of buying your Bitcoins locally. You can now buy Bitcoins in Vancouver, BC by either meeting someone face to face, utilizing a Bitcoin ATM, visiting a Cryptocurrency Broker, or by sending an Interac E-transfer that will not be flagged by your bank.
Bitcoin ATM’s in Vancouver
Bitcoin ATM’s have actually been around in Vancouver for a few years now. It’s just that very few people know about them or use them. Bitcoiniacs, for example, has been stationing Bitcoin ATMs inside Greater Vancouver area Waves cafes and other small business locations for at least the last three years. At these ATMs, you can both exchange CAD for Bitcoin and Bitcoin for CAD. Some of these locations include the Waves on Howe Street in Downtown Vancouver, the LBC Mundial Remittance Corporation located on Granville near Fir Street, and the Crowbar Restaurant on Kingsway. For a complete list of their Vancouver based Bitcoin ATMs, please visit the Bitcoiniacs Website.
**UPDATE – May 3, 2018*** Another organization offering bitcoin ATM’s in Vancouver is Badgercoin. They currently offer 19 different Bitcoin ATM’s located in Vancouver, Abbotsford, Chilliwack, and Vancouver Island. Their ATM’s are located in a wide variety of businesses including Liquor Stores, Pharmacies, and Pubs. Most notably they have Bitcoin ATM’s located in the The New Oxford in Yaletown and the Cinema Public House on Granville. Badgercoin ATM’s charge their customers based on the size of the transaction and they allow customers to both purchase Bitcoin as well as sell Bitcoin. Recently they have also added functionality that allows them to processes Litecoin and Ethereum transactions. Please visit the Badgercoin website for more information.
In Person Bitcoin Exchange in Vancouver
This is something that’s cropped up specifically because people are having a hard time buying Bitcoin online using their bank accounts and credit cards. In this scenario, people who either want Bitcoins or want to sell Bitcoins will meet with you in a coffee shop or a restaurant, or even the lobby of a bank, and conduct a cash transaction with you. It works well because transactions can be confirmed instantly with a cell phone and it gives people the opportunity to deal directly in cash.
So where does one find somebody to trade Bitcoin with in Vancouver? There are a couple of mainstream ways. The first is through Craigslist. People tend to advertise their desire to trade in Bitcoin in a lot of different sections of the Craigslist website, but if you search for Bitcoin, you’ll come up with more than a few willing individuals. The other way is through the use of a website called LocalBitcoins. Local Bitcoins is a site where people can list themselves as sellers of Bitcoin and they even detail their exchange price and payment options. The design of the site allows for easy comparison of different exchange rates and it works in more than just Vancouver. As of right now, they have listings in more than 200 different countries.
Interac E-Transfer for Bitcoin in Vancouver
This is another peer to peer exchange similar to the previously mentioned in-person Bitcoin transactions. You just take out the ‘in-person’ part. LocalBitcoins is once again the source for this Vancouver based Bitcoin exchange. They list individuals in Vancouver who are willing to trade Bitcoin for an Interac E-Transfer or vice-versa. These people are generally part of local cryptocurrency organizations and their prices are usually better than those offered by people that will meet you in person. This kind of transfer may seem a bit riskier, but everytime that someone makes a trade with someone on LocalBitcoins, the listed trader is reviewed and given a trust score. You get some peace of mind by seeing the track record of the person you’ll be trading with.
Brick and Mortar Bitcoin Exchanges in Vancouver
There is currently one brick and mortar Bitcoin exchange operating in Vancouver, BC and it is Vancouver Bitcoin. They are a full-service cryptocurrency brokerage that offers their customers the opportunity to buy and sell Bitcoin, they offer insight into Initial Coin Offerings, and they even help local businesses set themselves up to accept digital currencies as payment. They are open seven days a week and are located on Burrard Street at 2nd Ave.
Places in Vancouver Where You Can Pay with Bitcoin
It’s pretty safe to say that the majority of people buying Bitcoin in Vancouver these days are doing so as an investment, but there are still some out there that want to use it to pay for goods and services. It will, hopefully, one day be used primarily as a medium of daily exchange, but for now, the places in Vancouver where you can pay with Bitcoin are few and far between.
Riverside Dental in Ladner – Dr. Raj Dhiman, a Dentist in Ladner began accepting Bitcoin for payments in April of 2018. You can learn more by visiting the Riverside Dental website.