What is Bitcoin?

Bitcoin is a decentralized digital currency that allows users to send money over the internet without needing a central authority like a bank. It is secured by cryptography and powered by a peer-to-peer network called the blockchain.

Read the original Bitcoin whitepaper (PDF) for technical details.

How to Buy Bitcoin in Canada

You can buy Bitcoin using Canadian dollars through these recommended platforms:

Important: After purchasing, move your funds to a personal wallet for better security.

Setting Up a Bitcoin Wallet

For Beginners

• BlueWallet (mobile) - Simple interface with good privacy
• Muun (mobile) - Excellent for Lightning Network use

For Larger Amounts

• Ledger (hardware wallet) - Balance of security and convenience
• Coldcard (hardware wallet) - Air-gapped security for experts

Always: Back up your recovery phrase and keep it secure.

Seed Backup with Stamp Seed

For long-term storage of your wallet backup phrase, consider a metal backup solution like Stamp Seed:

• Protects against fire, water, and corrosion
• Far more durable than paper backups
• Compare all metal backup options

Sending and Receiving Bitcoin

To Receive Bitcoin

1. Open your wallet app
2. Navigate to the "Receive" section
3. Share the generated address with the sender

To Send Bitcoin

1. Paste the recipient's address into your wallet
2. Specify the amount
3. Review the transaction details
4. Confirm and send

Warning: Double-check addresses—all transactions are irreversible!

Understanding Transaction Fees

Bitcoin transactions require a small fee to be processed by miners:

• Wallets typically suggest a fee based on network congestion
• Higher fees = faster confirmation
• You can adjust fees manually in most wallets
• For non-urgent transactions, lower fees can save money