How to Use Bitcoins
What is Bitcoin?
Bitcoins is a decentralized, digital currency that is sent over the internet. Unlike traditional forms of payment, Bitcoin does not rely on any middle man such as a bank, credit card processor, or government. It is anonymous, highly secure, and does not require anyone’s permission to use. BC Bud Supply believes that Bitcoins, Cryptocurrencies and Blockchain technology are the future of payment processing, as well as a host of other innovations that are yet to come.
How Do I Get Bitcoins in Canada?
There are many ways to acquire Bitcoins as a Canadian, and below are a few avenues that we recommend.
Shakepay is the easiest and fastest way to acquire Bitcoins in Canada. You can quickly sign up for an account, deposit Canadian dollars through Interac e-Transfer, and have your money on the exchange in minutes, which you can then use to purchase Bitcoins or Ethereum.
Coinsquare is currently the largest Canadian Bitcoin exchange. They require you to submit a government ID for verification, and deposits can take a few days, so you’ll need to wait a little bit before you before you can start trading after you setup your account. If you’re looking to buy and sell larger amounts of Bitcoins, we recommend you open an account with Coinsquare.
Local Bitcoins connects you directly with Bitcoin sellers. Prices can be slightly higher here, but it can be the most private option and offers the most methods for payment. Some of the payment options include cash deposit into a bank account, Interac e-Transfer, Moneygram, PayPal, prepaid Vanilla Mastercards, and Western Union.
Steps to Paying with Bitcoins
1.) Select Bitcoins as the payment option on the checkout page when you are ready to place your order.
2.) BC Bud Supply will convert the Canadian dollar price of your order into the Bitcoin price, and display it to you along with a Bitcoin address to send that amount to. Copy this Bitcoin address, and keep this page open for the time being. You will have 15 minutes to send your coins to this address
3.) Open your Bitcoin wallet, navigate to the send screen, and paste our Bitcoin address into the address field. Copy the amount of Bitcoins you need to send and paste it into the amounts field. Hit send when you are ready.
4.) You marijuana order will ready for the packaging and shipping process after 2 confirmations on the blockchain.
Here are some further resources if you would like to know learn more about Bitcoins.