1- Open a Coinsquare account at coinsquare.io
Once your account is verified and you are able to do bank interact payments, deposit the amount of Canadian dollars you choose by clicking the FUND/WITHDRAW tab, select CAD as your selected currency in the upper-left side of the page if it is not already selected and ensure “Fund your account” is checked off, and not “Withdraw funds” which will be used later. Interact is their recommended method. The interact transaction must be at least $100.00 but no more than $3,000.00. Enter the amount and follow the steps in the Interact Online option. All transactions will generate an email for verificationn for added security. It can take up to 3 days for the transaction to be cleared and for you to be able to trade the balance that will appear in your “DASHBOARD”.
Clicking on the arrow next to the “Base currency” in the upper-right section of the DASHBOARD page allows you to view your account balance in Canadian dollars (CAD), equivalent Bitcoin (BTC ) value as well as some other currency conversions.
2- Click the FUND/WITHDRAW tab again and click on the “Withdraw funds option” on the left side of the page. Select BTC (Bitcoin) as “Your selected currency” in the upper- left corner of the page. If CAD is selected, you may get the message “no funds available to withdraw” and a zero balance. Don’t panic, by selecting BTC currency to withdraw, a transaction page will appear with your BTC balance (or fraction of a BTC).
- Enter the amount you wish to transfer to your Steemit account. You may enter a BTC or CAD amount and the system will calculate the equivalent CAD or BTC respectively.
3- Go to your Steemit account. Next, to your profile picture on the upper-right side of the page click on the tab with 3 parallel horizontal lines to open the menu and select “Buy Steem”. This will direct you to the BlockTrades page. Don’t enter any amounts on this page. Click on the “Get a deposit address” blue box (this is needed by Coinsquare since it would not simply recognize your Steemit name/receive address). Copy this key (a long series of many digits and letters). It generates a new key/address each time the box is clicked linking it to your Steemit account and will convert the BTC from Coinsquare to STEEM and add it to your Steemit wallet.
4- Go back to the Withraw funds page in Coinsquare. Again, be sure to select BTC as your currency in the upper-left side of the page. Now, paste the key you copied from the BlockTrades page that generated a deposit address in the Coinsquare page, paste the key in the section titled “Send To, Recipient Wallet Address”. Then press the grey button titled “REQUEST WITHDRAWAL”.
- Next, open your e-mail and confirm the transaction. The email will include the deposit address/key to make sure you didn’t make any mistake. Verify the transaction via email to process it.
5- Go to your Steemit account wallet by clicking on your profile picture in the upper-right corner of the page to open a menu and select “Wallet”. You STEEM balance should have increased by the value of STEEM converted from the BTC transfer from Coinsquare.
6- Go to your Coinsquare account DASHBOARD tab to see your current balance after the amount of BTC or fraction of BTC was withdrawn. Again, by clicking on “Base currency near the upper-right side of the page you can check your balance in BTC or CAD.
It took me a while to find this method. I hope sharing it with you may save you some of the time and frustration I had before figuring this out.
Healthy regards!
Denise
Thanks Actually for this information !! I have not actually bought Bitcoin yet only with steem but not with actual money ! Great information I will need to check it out further , upped and resteemed !!👍👍👍✌💕
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STOPYou can tag it first under bitcoin so that it would seen first by bitcoin followers. =)
thanks for posting this @denisedube, I will definitely do this today.
im assuming I could do this the same way with the quadrigacx account I have been using for a long time , instead of Coin square .
Thank you for your feedback, Karen! I tried various websites including Quadrigacx and Changelly over a long and frustrating 3-day period learning to make my first STEEM purchase originating with Canadian dollars. I ran into roadblocks on some sites with difficulty having my photo ID recognized on upload, others charged very high exchange rates/fees. Coinsquare only charged me $2.50, leaving my balance at $97.50 CAD from my $100 CAD deposit. They charge 0.001 BTC for withdrawals (equivalent to $5.50 CAD today). My questions were answered via email which I was able to reply to when I needed more questions answered. The customer service in this respect was good.
Awesome ! Thanks for all the information , its much appreciated !👍👍👍✌