How To Buy Crypto with Tangerine Bank

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Canadian Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto exchange. However, that doesn’t mean you can’t use your bank account to buy crypto.

All you need is a reliable and trusted cryptocurrency trading platform. We recommend using Bitbuy as it’s a very well-known Canadian crypto exchange (over 400,000 Canadians served) with a good amount of cryptocurrencies to choose from.

And for a limited time only, you can get FREE $40 when you sign up and fund your Bitbuy account with $250+!

Buy Crypto with Bitbuy

How to buy crypto or bitcoin with Tangerine Bank

As stated above, just like with the vast majority of Canadian banks, you can’t buy crypto with Tangerine Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a cryptocurrency exchange.

However, luckily for us, there are plenty of crypto exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.

1. Choose a cryptocurrency exchange

While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.

The reason we recommend going with Bitbuy is that they’re very easy to use, have 24/7 support, and have a quick and seamless verification process to get you started!

Let’s get into it!

Bitbuy site

2. Create an account on the exchange

The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.

Buy Crypto with Bitbuy

Bitbuy sign up form

3. Transfer funds into the account

Transferring funds from your Tangerine Bank account is also pretty easy as Bitbuy supports Interac eTransfer and Bank Wire.

4. Buy crypto

Once the funds are in the account, just choose bitcoin or any other cryptocurrency you’re wanting to purchase, and buy it.

And that’s it, you now have some crypto, congratulations!

Buy Crypto with Bitbuy

 

Frequently Asked Questions

Where can I buy crypto in Canada?

There are multiple Canadian cryptocurrency exchanges where you can buy crypto. While this guide uses Bitbuy, other popular exchanges include Coinberry and NDAX.

How can I buy Bitcoin in Canada?

You can buy Bitcoin using a crypto exchange like Bitbuy or Coinberry. We also have this useful guide on purchasing btc {in Canada}.

About Tangerine Bank

Tangerine Bank is a Canadian branch of Scotiabank. Through a subsidiary, it offers no-fee chequing or savings accounts, Guaranteed Investment Certificatess (GICs), and mortgages. Many savings and investment products can be registered as a Tax-Free Savings Account, Registered Retirement Savings Plan or Registered Retirement Income Fund.

The bank was originally founded by ING Group, formerly ING Bank of Canada. Scotiabank purchased it in November 2012 The bank's new name was unveiled in November 2013 and the Tangerine branding began in April 2014.

Scotiabank has now acquired Tangerine but Tangerine still exists as a separate legal entity. Tangerine's unique Institution Number (614) is maintained and all accounts fall under the same transit number (00152).

ING Bank of Canada was the predecessor of Tangerine. It was established under the trade name ING Direct in April 1997. This telephone banking service offered savings accounts. It was the first test market of ING Group's new direct banking model. This model aims to offer customers better rates and avoid the cost of maintaining branches. The company's spokesperson was Frederik De Groot, a Dutch actor.

Online banking was a major expansion of the bank's operations. It also began to offer mortgages. ING Direct Canada employed over 900 people and had close to $40 billion of total assets.

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