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How to Buy Crypto with Digital Commerce Bank in Canada

Last updated on November 12, 2023

Quick Summary: While Digital Commerce Bank 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.

Digital Commerce Bank Homepage

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

There are a large number of crypto 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 DC Bank

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

1. Pick a crypto exchange

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.

Sign Up With Binance

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 Digital Commerce Bank.

Buy Crypto With Binance

About Digital Commerce Bank

Digital Commerce Bank is a Schedule 1 Canadian Bank focused on technology, and providing robust and secure payment technology. The bank’s platform that is based on technology provides innovative banking and payment solutions to corporate customers which allows businesses to provide their own payment and financial solutions.

The Bank’s own banking-as a-service along with payment and settlement solutions along with easy APIs, give customers the flexibility, efficiency and ease of use in integrating services directly into a company product. The Bank is an affiliate of Payments Canada, and is an official partner of Interac, Visa and MasterCard.

DCBank was founded in October 2007 as an scheduled I banking institution as per the Canadian Bank Act and on January 24, 2008 the Director of Financial Institutions authorized DCBank to continue to operate.

Since its inception at the end of 2007, DCBank has evolved from a small bank offering limited products to an extensive financial services company. They have created a broad financial services platform, as well as payments solutions to both business and individuals across Canada.

The company is proud of their qualities that make their company unique, such as their focus on customer service and deep payments experience. They are committed to their customersand help each of them develop successful businesses , and they are committed to being banking and payment specialists.