How to Buy Crypto with RFA Bank of Canada

Last updated on November 12, 2023

Quick Summary: While RFA 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.

RFA Bank of Canada Homepage

As mentioned in my quick summary, like most Canada banks, RFA Bank of Canada 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.

Thankfully there are many crypto exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using Binance as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with RFA Mortgage

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

1. Pick a crypto 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 RFA Bank of Canada.

Buy Crypto With Binance

About RFA Bank of Canada

In 1996, the company was founded. RFA (Realty Financial Advisors) is an investment company owned by Canadians. company that is based on its Commercial as well as Asset Management segments.

RFA as well as its partners in investment are actively involved in a variety of portfolios focused on real estate which include REITs, debt financing transactions retirement homes, direct investment in retail, office multifamily, industrial and residential properties. In total with these companies in the RFA collection of businesses has more than $65 billion in assets under management, and an additional $25+ billion worth of administration assets.

In the year 2018, RFA expanded into the residential lending market, with the intention of becoming a leading brokerage channel lender. In the year 2019, RFA accelerated its growth plans by acquiring Street Capital Bank and now is present in both the Alternative and Prime lending segment.

The residential mortgage lending business of RFA is managed through RFA Mortgage Corporation as well as RFA Bank of Canada, an federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured insurable, Insurable, and Uninsurable) as well as RFA Bank of Canada is a balance sheet-based alternative loan provider (Alt-A as well as B-lending). Together, RFA offers mortgage brokers an all-in-one shop for their entire range of competitive Prime and alternative mortgages.

RFA’s vision for the future is to be a sustainable leader in the field of residential lending through offering a value-added service over and above rates and compensation. By establishing a competitive broker experience and a product range that is solution-oriented RFA’s objective is to be acknowledged and recommended by mortgage partner, mortgagors, as well as other strategic partners to provide financing solutions and a better client/broker experience.