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Yes, you can buy $100 of Bitcoin.
How much Bitcoin can I buy with $100?
You will receive 0.0027 BTC for $100 CAD.
This is at the current Bitcoin price of $37,412.78 CAD or $29,204.70 USD for 1 Bitcoin.
The price of Bitcoin is very volatile and can fluctuate up and down greatly.
Google: “Bitcoin Price” and a calculator will let you enter the value of dollars you want to buy and how much Bitcoin you will get approximately. (shown below)
Best Sites to Buy or Sell $100 of Bitcoin in Canada
Interac E-Transfer is the fastest, easiest, and cheapest way to fund or withdraw crypto exchange accounts as a Canadian.
You need to be of legal age (18+) and you will need to verify your ID to create an account at every legal crypto exchange in Canada.
Shakepay
Why use Shakepay:
- Shakepay is a simple app to use
- Bitcoin and Ethereum only
- Free to send off-exchange
- Shaking Sats Rewards
- Prepaid Debit Card that earns crypto rewards
- Safe
Get $30 Sign Up Bonus at Shakepay when you buy $100 of Bitcoin.
Newton
Why use Newton:
- Low spread fee
- App and Website functionality
- Lots of altcoins and stable coins
- Easy to use, nice design
- Safe
Get $25 Sign Up Bonus at Newton when you buy $100 of Bitcoin.
Compare More Canadian Crypto Exchanges.
Exchange / Brokerages Fees & Spread
Crypto exchanges make money buying and selling crypto to their users. Every exchange has slightly different fees and spreads on all transactions.
Choosing what change is “Best” depends a lot on how much $ you are wanting to buy or sell.
For example, if you buy $100 on Bitcoin, your account after will show that you have $99 of Bitcoin.
Some exchanges will have fees to send/withdraw crypto from the exchange to your wallet.
Ethereum network transactions and Bitcoin network transactions will have different fees and vary based on how busy the perspective blockchains are at any given time.
Some coins/tokens will also have a minimum needed to cover the network fee to withdraw your crypto. This will depend on the crypto and the exchange.
The exchange and spread can also vary at any time when buying and selling Bitcoin. This is especially true at peak times.
Why Shakepay or Newton When buying $100 of Bitcoin in Canada:
- Signup bonuses
- Lowest fees to trade $100 to Bitcoin
- Free to withdraw Bitcoin from the exchange
- Easy to use for beginners to use
Is it Worth Buying $100 of Bitcoin?
Ultimately this will come down to whether the price of Bitcoin goes up in time. The truth is no one knows what the price of Bitcoin will be in 2025 or in 2030. You are responsible for how much you should invest in Bitcoin.
If your risk tolerance is all that you are only willing to risk is $100 then that is fine and you should stick with your rules.
Speaking from my personal experience; I used the strategy of ‘Dollar-cost averaging’ (DCA). I have only ever bought small amounts of Bitcoin at regular intervals regardless of price over a period of time.
This strategy has worked for me and seems to have worked with others as well. I am not an investment advisor.
If the price of Bitcoin goes up 100% or 2x you will still have the 0.0027 BTC you originally purchased you could then sell your Bitcoin for $200.
Or the price of Bitcoin could go down 80% and you would be at a loss in dollar terms, but you would still have the 0.0027 BTC or $20 CAD.
I found that after I bought the first $100 of Bitcoin, sent it to my wallet, learned more about wallets and it really started to crystalize how to secure and back up my digital assets and helped me understand more about how the Bitcoin Networked worked. I learn better by doing.
I started only with a hundred dollars and I found that the learning experience of buying Bitcoin and sending it to a wallet I owned to be a more worthwhile learning experience than an investment in Bitcoin itself regardless of the price of Bitcoin. I only invested what I was willing to lose.
Should you invest in Bitcoin will need to be determined by YOU. Your personal risk level when it comes to speculating and securing your digital assets against scams.
The process can be intimidating at the start but quickly becomes as easy as sending and receiving a text message.
Don’t Leave Your Bitcoin on the Exchange
You should always send your crypto assets to a Wallet you have the ‘seed phrase’ for.
There are hardware wallets also known as cold wallets, and software wallets also known as hot wallets.
Hardware wallets are the ideal choice for securing your crypto assets long-term but they cost $100 and up.
If you are buying only $100 of Bitcoin it might make more sense to use a free software wallet on your phone or desktop computer.
A software wallet you have the seed phrase for is better than leaving your Bitcoin on the exchange.
Some popular Bitcoin wallets to checkout; Blue Wallet, Exodus, Muun, or Trust Wallet.
Here is a Step-By-Step Guide on How to Buy Bitcoin from Shakepay and Send it to Your Wallet.
You can buy a hardware wallet at a later date and send/secure your assets when it makes more sense for you when it is worth it to invest in a hardware wallet.
Can You Lose Money With Bitcoin?
Yes. You can lose your Bitcoin in multiple ways:
- value of Bitcoin goes down
- you lose your backup seed phrase and access to your crypto
- common cryptocurrency scams
- send it to the wrong address
- leaving Bitcoin on an exchange
nooxli is basic how-to crypto guides, reviews, and information for beginners to get started with cryptocurrency in Canada. Personal investment disclosure: I am long BTC & ETH. I take profits when I feel like it. I trade altcoins in hot markets. NOT investment advice. Investing in cryptocurrency is risky. Do your own research.
Seen in: Finbold, CoinMarketCap, Times Tabloid, and TheBitTimes.com
