How to Send and Receive Bitcoin in Canada
Sending and receiving Bitcoin
is straightforward
How Bitcoin Addresses Work
A Bitcoin address works similarly to a bank account number — except it is public and cryptographically generated.
Example Bitcoin address:
bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh
Public but Secure
Bitcoin addresses are designed to safely receive transactions without exposing your private keys.
Always Copy-Paste
Never type a Bitcoin address manually. Always copy-paste or scan the QR code.
Transactions Are Final
Sending Bitcoin to the wrong address usually results in permanent loss with no recovery option.
Use New Addresses
Most modern wallets automatically generate a new address for every transaction to improve privacy.
Important: Bitcoin transactions are irreversible.
Always verify the address carefully before sending any Bitcoin.
How to Receive Bitcoin
Step 1
Open your Bitcoin wallet (BlueWallet, Ledger, Trezor, etc.)
Step 2
Tap "Receive" to generate a receiving address.
Step 3
Copy the Bitcoin address or share the QR code.
Step 4
The sender transfers Bitcoin to your address.
Step 5
The transaction appears as pending, then confirms after 1–6 confirmations.
How to Send Bitcoin
1. Open Wallet
Launch your Bitcoin wallet app or hardware wallet software.
2. Tap Send
Select the "Send" option.
3. Enter Address
Paste the recipient's Bitcoin address and double-check it carefully.
4. Enter Amount
Input the amount in BTC or CAD equivalent.
5. Choose Fee
Higher fees usually confirm faster. Most wallets recommend a fee automatically.
6. Confirm
Review everything carefully before broadcasting the transaction.
Transaction Fees & Confirmations
Bitcoin transactions require a fee paid to miners. Fees fluctuate depending on network congestion.
Low Fee
$0.50–2 CAD
Estimated confirmation: 30–60 minutes
Medium Fee
$2–10 CAD
Estimated confirmation: 10–30 minutes
High Fee
$10–50 CAD
Estimated confirmation: next block (~10 minutes)
Confirmations explained: Most services require between 1–6 confirmations before considering Bitcoin fully settled. Each block typically takes ~10 minutes.
FINTRAC Registered | Non-Custodial | Bitcoin-Only | 20,000+ Canadians | Since 2020
See also: Bitcoin Wallet Canada | Bitcoin Self-Custody Canada | Buy Bitcoin in Canada
