Home
/
Banks
/
How to Buy Crypto with Coast Capital Savings in Canada

How to Buy Crypto with Coast Capital Savings in Canada

By Hong Xie

Last updated on November 12, 2023

Quick Summary: While Coast Capital Savings does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Canada cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

As mentioned in my quick summary, like most Canada banks, Coast Capital Savings doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

There are a large number of cryptocurrency exchanges that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use Binance as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Coast Capital

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency trading platform

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Coast Capital Savings.

Buy Crypto With Binance

About Coast Capital Savings

Coast Capital Savings Federal Credit Union (formerly Coast Capital Savings Credit Union) is an independent financial cooperative owned by members and located within Surrey, British Columbia. As a member, it is among the top banks across Canada that has 535,000 people members, as well as $25.2 billion of assets. Coast Capital Savings has 52 branches across areas such as the Metro Vancouver, Fraser Valley, Okanagan and Vancouver Island regions of British Columbia.

Coast Capital Savings found its roots in 1940, as an association with British Columbia government employees later becoming Pacific Coast Savings Credit Union through a series of amalgamations of the local Vancouver Island credit unions. Seven years afterward, Surrey Metro Savings and Richmond Savings were formed in the Lower Mainland of British Columbia.

Coast Capital Savings Credit Union was established as a result of a merger made on December 31st, 2000, between Pacific Coast Savings Credit Union and Richmond Savings Credit Union. At the timeof the merger, the entity’s $3.2 billion of assets made it the second-largest institution of credit in Canada in comparison to Vancity’s $6.4 billion. Then, in June of 2002 Coast Capital Savings acquired Surrey Metro Savings, expanding the coverage of the credit union’s services across Vancouver Island to the Fraser Valley.

Coast Capital Savings has a special focus on young people in their involvement in the community, encouraging the growth of financial literacy and academic achievement, as well as social ties to the wider community as well as a stable mental health. Coast Capital Savings invests 7 percent of its pre-tax profits into programs that aid youngsters in these areas. The notable programs of Coast Capital Savings includes the Canadian Cancer Association’s Cops for Cancer initiative and BC’s University’s Innovation Hub, CKNW’s Pink Shirt Day and the Victoria-based United Way’s Youth In Action program.

Other Popular Canada banks

Hong Xie

Hong Xie is a seasoned banking professional whose expertise spans over two decades. Known for his strategic approach to financial planning and wealth management, Hong has helped countless individuals and businesses achieve their financial goals. His analytical skills and thorough understanding of financial regulations ensure that his advice is both practical and compliant.