How to Buy Crypto with Tangerine Bank

Can I Buy Bitcoin with Tangerine Bank?

Yes, Tangerine Bank customers can purchase Bitcoin and other digital assets through licensed cryptocurrency exchanges within Canada. Finding one governed by regulatory bodies such as the Canadian Securities Administrators (CSA) the Financial Transactions and Reports Analysis Centre (FINTRAC). These platforms follow strict regulations, providing a secure and law-abiding platform for purchasing and transacting in digital currencies.

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How to Buy Crypto with Tangerine Bank

If you're interested in purchasing digital currencies through Tangerine Bank, we recommend using Kraken, a FINTRAC-regulated exchange. This platform enables immediate and free CAD deposits from Tangerine Bank accounts. The platform enables the buying, selling, and staking of over 200 cryptocurrencies at fair and competitive fees. Deposits can be completed through Interac e-Transfer, wire transfers, and credit and debit cards.

To help you navigate this process, here's a detailed guide:

1. Set Up an Account: Begin by establishing an account on Kraken. Complete the identity verification process applicable for either individuals or businesses.
2. Select Your Currency: Choose your desired deposit currency (like CAD) on the Kraken platform.
3. Initiate a Deposit: Pick your preferred payment method (for example, Interac e-Transfer, wire transfer, or credit/debit card) and finalize your deposit from Tangerine Bank.
4. Purchase Cryptocurrency: The final stage is to choose the cryptocurrency you wish to buy and execute your transaction.

Tangerine Bank Cryptocurrency Policy

Committed to providing access to the digital economy while safeguarding client interests, Tangerine Bank has adopted a forward-thinking stance towards cryptocurrencies. The bank enables its customers to use exchanges that comply with the regulations set by the Canadian Securities Administrators (CSA) and the Financial Transactions and Reports Analysis Centre (FINTRAC). In Canada, Kraken has established itself as a reputable platform due to its compliance with CSA regulations and its status as a registered Money Services Business (MSB) with FINTRAC, bearing the registration number M19343731.

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Digital Asset Investing Fees

Grasping the costs associated with investing in digital assets is key to maximizing your financial returns. Kraken has reasonable fees that can impact your total earnings:

• Transaction Expenses: Kraken uses a graduated fee schedule for trading costs, starting at 0.16% for order placement and 0.26% for order fulfillment. The more you trade, the lower these fees become, enhancing your potential profits.
• Deposit Fees: Adding cryptocurrency tokens to your Kraken account won't cost you anything, but if you're depositing fiat currency, a nominal fee may apply. This fee varies depending on your chosen payment method, such as credit cards or Interac e-Transfers.
• Withdrawal Costs: The charges for pulling out funds are competitive and differ based on the specific digital currency you're transferring. For instance, withdrawing Bitcoin will set you back 0.0005 BTC.

To sum it up, Kraken offers affordable transaction fees that lessen as you increase your trading volume. The platform's deposit and withdrawal fees are also highly competitive, making it an attractive choice for investors focused on achieving optimal financial results.

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What is Tangerine Bank?

Tangerine is a pioneering Canadian direct bank, renowned for its innovative banking solutions. Established in 1997 as ING Direct Canada, it was rebranded as Tangerine in 2014 after being acquired by Scotiabank. The bank has consistently set industry benchmarks with its unique approach, focusing on offering simple and flexible financial products and services, mainly digital.

Operating primarily online and via mobile platforms, Tangerine Bank caters to millions of Canadians nationwide, offering a wide range of financial products. These include chequing and savings accounts, guaranteed investment certificates (GICs), mortgages, and mutual funds. Tangerine's commitment to transparent pricing, with no hidden fees, and exemplary customer service, has established it as a customer-friendly choice in the Canadian banking sector.

Final Thoughts

In conclusion, Tangerine Bank has emerged as a progressive financial institution, enabling its customers to venture into the world of cryptocurrencies through CSA and FINTRAC-regulated exchanges. The bank doesn't directly offer crypto services, but permits CAD deposits into platforms like Kraken, which stands out for its free and instant CAD deposit feature, multitude of deposit methods, and wide range of crypto assets.