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How to Buy Crypto with Wealth One Bank of Canada

Last updated on November 12, 2023

Quick Summary: While Wealth One 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.

Wealth One Bank of Canada Homepage

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

Thankfully there are many crypto trading platforms 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 Wealth One Bank Of Canada

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 Wealth One Bank of Canada.

Buy Crypto With Binance

About Wealth One Bank of Canada

Established in 2016, The Wealth One Bank of Canada was established in 2016. Their goal is to ensure that access to financial services a pleasant service for Canadians. They believe in relationships and continuously work together and develop strategic partnerships to provide new and enhanced services to their clients.

Wealth One Bank of Canada was founded by seven of the most prominent investors. Shenglin Xian attracted other investors as well, such as Yuansheng Ou Yang and Mao Hua Chen who were appointed director of the institution. Together with a third investor the bank secured $50 million for initial loan for the banking institution. The investors believed they had a chance to establish an Canadian bank that was equipped to provide services to Chinese-Canadians , by knowing their customs, culture and also being able to speak their native language. The company started to work in the beginning of 2010 towards receiving a charter in what its president and CEO in the early days, Charles Lambert, described as an “long application process”.

WealthONE offers a range of borrowing solutions that are suitable for self-employed people and investors who own multiple properties and high net worth individuals as well as immigrants to Canada. They offer full-service mobile and online banking apps that offer customers an easy, secure and fast service for their everyday banking as well as savings, borrowing and investment needs.