Frequently Asked Questions

Dive into the language of cryptocurrency. Find terminology and related information on this page.

Illustration of man holding magnify glass to question mark (FAQs)

We accept cash, e-transfers, direct deposit and wire transfers

We pay out in cash, e-transfers, direct deposit and wire transfers

We charge between 3.5% and 7.5%. Rates vary depending upon the quantity purchased or sold.

Yes! We’re here to help. We can help you set up a hardware or mobile wallet and show you how to back up the keys so that even if you lose the physical wallet, you can still recover your coins. In addition, we can walk you through how to send and receive coins into your new wallet. We’ll give you tips on how to keep your coins safe and best practices for security. We can even show you how to create an account on an online exchange to buy other coins and trade cryptocurrency.

There are numerous wallets available:

  • Hardware wallets (Ledger and Trezor)
  • Mobile wallets (Exodus, Trust, Metamask, Electrum, etc.)
  • Exchange wallets

Since different clients have different needs, what works for one client may not work for another.  Please visit or call us and a crypto specialist will be happy to make the right recommendation for you based on your specific uses and needs.

Yes, we sell two types of Ledger hardware wallets: Ledger Nano S and Ledger Nano X.

We offer Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Litecoin (LTC) and Dogecoin (DOGE).

Yes, for transactions over $1,000 Canadian dollars we require one piece of government-issued photo ID.

As a registered Money Service Business (MSB), we are required to verify the identity of our clients to stay compliant with Anti-Money Laundering (AML) and anti-terrorist financing regulations.

  • Driver’s license
  • Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status
  • Provincial Service Card (BC only)
  • Provincial or territorial identity cards (ex. BC ID)

No, you can only buy or sell for yourself.

Vancouver Bitcoin was established in January 2018 and is one of the original crypto businesses in Vancouver, BC and one of the oldest in all of Canada! While 5 years may sound short, in the crypto industry it’s a very long time. Over the years, we’ve helped thousands of happy customers. Just check out our reviews! So, if you’re looking for the safest place to buy and sell bitcoin and other cryptocurrencies locally, it’s Vancouver Bitcoin.

In most cases, your transaction will be completed in a matter of minutes. However, transaction times can vary depending upon several factors including the type of blockchain you are using, how busy the network is and the fee you pay when sending us your coins. For example, during peak times, like when the price of Bitcoin is reaching all-time highs, the Bitcoin network will be busy and your transaction may take longer than a few minutes. To avoid long delays, we always recommend using a priority fee when sending us coins. The good news is our staff here will walk you through the process and ensure your transaction goes smoothly.

Yes, cryptocurrency taxation is treated similarly to capital gains taxes. For a more in-depth explanation of crypto taxation, please see Vancouver Bitcoin’s Cryptocurrency Tax Guide for 2022.

We do not provide any financial advice. We recommend you do your own research and/or consult a registered financial advisor. However, we can provide general information about cryptocurrencies and recommend reliable resources for further learning.

Banks and credit unions in Canada do not support cryptocurrencies yet. While you may have been able to complete a few transactions in the past, when the bank does eventually find out that you are attempting to purchase crypto with your credit card, they block these transactions.

Bitcoin ATMs, sometimes called BTMs, are physical machines similar to bank ATMs.  While these can be conveniently located, they pose the following risks and disadvantages:

  • Less secure locations
  • Public areas where you can be watched and tracked
  • No technical or customer support
  • Much higher fees than Vancouver Bitcoin

Vancouver Bitcoin has two branches:

  • Vancouver branch: 1807 Burrard St, Unit 202, Vancouver, BC, V6J 3G9
  • Surrey branch: 10392 King George Blvd, Surrey, BC, V3T 2W5