• Home
  • /
  • Banks
  • /
  • How to Buy Crypto with Laurentian Bank of Canada

How to Buy Crypto with Laurentian Bank of Canada

Last updated on November 12, 2023

Quick Summary: While Laurentian Bank of Canada 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.

Laurentian Bank of Canada Homepage

As mentioned in my quick summary, like most Canada banks, Laurentian Bank of Canada doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange 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 Laurentian Bank

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.

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 Laurentian Bank of Canada.

Buy Crypto With Binance

About Laurentian Bank of Canada

The Laurentian Bank of Canada (LBC; French: Banque Laurentienne du Canada) is a Schedule 1 bank which operates predominantly throughout the province of Quebec as well as branches for business and commercial banking that are located across Ontario, Alberta, British Columbia and Nova Scotia. LBC’s institution number (or routing code) is 039.

The bank was founded in 1846 as Montreal City and District Savings Bank in 1846. The shares of the bank were traded publicly in the Montreal Stock Exchange in 1965 as well as the Toronto Stock Exchange in 1983. Since 1987, the bank was renamed to the Laurentian Bank of Canada.

The bank is also the sole one within North America to have had the benefit of a unionized workforce, with certain jobs becoming unionized in the year 1967, while the majority of the non-managerial jobs being joined several decades later.

In 2017 the bank failed in an effort of the institution to deny certification to its union, the Canadian Office and Professional Employees Union however, the majority of employees were in favour of decertifying the union in March 2021. This prompted for the Canada Industrial Relations Board to remove the union’s certification at the beginning of April in 2021.