We're excited to introduce an update to 1Bitcoin.ca that makes buying Bitcoin faster, simpler, and more secure.
Our latest platform improvements streamline the purchase process by automatically completing your Bitcoin purchase once your deposit is received, while adding an extra layer of security through our new Whitelisted Wallet feature. 🔒
✨ What's New?
⚡ Automatic Bitcoin Purchases
With the updated platform, there's no longer a separate step to place your Bitcoin order after funding your account.
Simply send your CAD deposit by Interac e-Transfer or wire transfer, and once your payment has been received and any required compliance reviews are complete, your Bitcoin purchase is automatically processed.
The Bitcoin purchase is executed at the current market rate, ensuring transparency in the transaction process.
Your Bitcoin is then delivered directly to your approved Whitelisted Wallet. ₿
This means:
✅ Fewer steps to complete your purchase
⚡ Faster, more streamlined transactions
💳 No need to manually place an order after funding your account
🔒 What is a Whitelisted Wallet?
A Whitelisted Wallet is the Bitcoin wallet address you've chosen to receive your Bitcoin purchases.
Before using the platform, you'll be asked to add and verify your preferred Bitcoin wallet. Once verified, all future Bitcoin purchases will be delivered directly to that wallet.
This helps protect your account by ensuring Bitcoin is only sent to a wallet you've approved. 🛡️
💡 Why We Made This Change
Our goal has always been to make buying Bitcoin as simple and secure as possible.
These updates help:
🚀 Reduce the number of steps required to complete a purchase.
📤 Deliver Bitcoin directly to your chosen wallet.
🔐 Improve account security by verifying destination wallet addresses.
✅ Reduce the risk of Bitcoin being sent to an unintended wallet.
👋 Existing Customers
If you're an existing customer, you'll be prompted to add and verify your Whitelisted Wallet the next time you sign in.
Once your wallet has been confirmed, you're ready to continue purchasing Bitcoin through the new streamlined process.
❓ Frequently Asked Questions
Can I turn off Automatic Purchases?
No. Automatic purchasing is now part of how the 1Bitcoin.ca platform operates. Every accepted CAD deposit is automatically applied toward a Bitcoin purchase.
Deposits are no longer held as account balances — every accepted CAD deposit is automatically used to purchase Bitcoin and sent directly to your Whitelisted Wallet.
What if I want to disable Auto-Buy temporarily?
The Auto-Buy feature is a permanent setting and cannot be disabled, even temporarily.
Can I change my Whitelisted Wallet?
Yes. You can update your Whitelisted Wallet from your account settings. For your protection, wallet changes require email confirmation and two-factor authentication (2FA) and may be subject to a security waiting period before becoming active. To update your whitelisted wallet address, follow these steps:
Log in to your account and navigate to the wallet settings.
Initiate the wallet address change process. For security purposes, this will require:
Email confirmation
Two-factor authentication (2FA)
Be aware that changes cannot be made while a deposit is being processed. Additionally, there may be a waiting period before the new address becomes active.
Can I change my wallet while a purchase is processing?
No. To help protect your account, wallet changes cannot be made while a deposit or Bitcoin purchase is in progress.
What happens if my wallet address is not whitelisted?
To ensure the security of your transactions, Bitcoin can only be sent to approved (whitelisted) wallet addresses. Make sure your wallet address is whitelisted before making a deposit.
What if I send Bitcoin from another wallet?
Receiving Bitcoin into your own wallet does not trigger an automatic purchase. Automatic purchases only occur when you make a Canadian dollar deposit through 1Bitcoin.ca.
Are there any delays in processing deposits?
The new process is designed to minimize delays. However, external factors such as bank processing times or network congestion may still affect the timing of your transaction.
🎉 A Simpler Way to Buy Bitcoin
Troubleshooting Tips for E-transfer Issues
Verify Your Wallet Address: Ensure that your wallet address is correctly whitelisted to avoid transaction errors.
Check Deposit Status: If your deposit is delayed, check with your bank to confirm the transfer has been processed.
Update Your Wallet Before Depositing: Ensure your whitelisted wallet address is accurate and up to date before initiating a deposit to avoid sending Bitcoin to an outdated address.
These improvements are designed to make every purchase more convenient while maintaining the high level of security our customers expect.
As always, 1Bitcoin.ca remains a non-custodial Canadian Bitcoin brokerage. Your Bitcoin is delivered directly to your Whitelisted Wallet—you stay in control of your Bitcoin from the moment it's sent. 🔑
If you have any questions, our support team is always happy to help. 💬