Bull Bitcoin Review: Best Place to Buy Bitcoin in Canada and Costa Rica

Description

Bull Bitcoin is a bitcoin-only, no-KYC exchange that enables you to buy bitcoin in Canada with cash, debit card, Interac E-Transfers, and other Canadian bank transfer options. In addition, it supports dollar-cost averaging (DCA), the Lightning Network, Liquid Network, and bill payments using bitcoin.

Recently, the exchange expanded to Costa Rica. This means, Costa Ricans (and foreigners with SINPE Movil accounts) can now buy Bitcoin directly with the local currency, the Colón.

How to Open Bull Bitcoin Account

You can open a Bull Bitcoin exchange account without providing any documents for Know Your Customer (KYC). What you need is just an email address, and fund your account with cash or debit card at a Canada Post office. All you need from there is to show the Canada Post cashier the QR code generated in your Bull Bitcoin account funding order. Then you will be able to purchase bitcoin at Canada Post. However, if you choose to use bank-based funding options on the exchange, you will be required to provide identification (KYC).

Unlike most exchanges, Bull Bitcoin forces its users to self-custody their bitcoin. This means you need to have your own bitcoin wallet. The exchange recommends BlueWallet (mobile), Wasabi (desktop) and Coldcard (hardware).

How to Buy Bitcoin in Canada With Cash/Debit Card

To buy Bitcoin non KYC in Canada or with cash and debit card in Canada, visit any Canadian Post office and request the cashier to scan the QR code generated in your Bull Bitcoin account. You can pay using cash or debit card, and the funds will be automatically added to your Bull Bitcoin account within a few minutes. The maximum amount of Bitcoin you can purchase per transaction using Bull Bitcoin Canada Post service is $999.99. Once the transaction is complete, Bull Bitcoin will instantly send a bitcoin payment to your own self-custodial bitcoin wallet on-chain or through Lightning.

Bull Bitcoin Features

In addition to selling and buying bitcoin, Bull Bitcoin offers the following features.

Bylls

Bylls allows you to use bitcoin to pay any bills in Canada using bitcoin. These include credit cards, utilities, telecommunications, taxes, brokerage accounts, law companies, and plumbers. The recipient of the payment doesn’t need to do anything and doesn’t even need to know you are using bitcoin, as long as they are on Bull Bitcoin biller list, or you have their banking details.

With Bylls, you can not only pay but also get paid. You must create an invoice and choose where the payment should be paid: to a bank account, credit card, or received as Interact e-Transfer. Once the invoice is paid, Bull Bitcoin sends CAD to your account.

Convert Paycheck to Bitcoin

You can receive your paycheck directly into your Bull Bitcoin account with Bull Bitcoin’s payroll program. To enroll, provide your employer with instructions given to you by the exchange, so they can replace your bank account details. You can choose to have your entire paycheck or a portion of it deposited into your Bull Bitcoin account.

Dollar-Cost Averaging (DCA)

Dollar-cost averaging is an investment technique in which you buy the same amount of bitcoin at regular intervals regardless of price to neutralize price volatility. In this regard, Bull Bitcoin allows you to automate daily recurring purchases. When you fund your account, the funds are transferred immediately to the exchange’s wallet, Cyphernode, an open-source Bitcoin wallet system. If you have set up recurrent bitcoin purchases, the funds are automatically sent to your noncustodial wallet after the transaction is completed.

Bitcoin Corporate Accounts

If your company wants to adopt bitcoin, you may open a corporate account with Bull Bitcoin and add bitcoin to your corporate balance sheet, accept bitcoin payments, pay your employees with bitcoin, and pay your suppliers with bitcoin.

Bull Bitcoin Prime

Bull Bitcoin Prime is a VIP advisory service for high-net-worth individuals and business clients. It’s a customised one-on-one service overseen directly by Francis Pouliot, bitcoin specialist and founder of Bull Bitcoin. To open a business account, the business entity must be registered in Canada.

Bull Bitcoin Fees and Limits

Bull Bitcoin is one of the cheapest ways to buy bitcoin in Canada. There are no fees charged to fund your account or buy bitcoin. The fees charged for selling bitcoin depend on the amount of bitcoin sold.

25 CAD is the minimum amount you can process per transaction. If you buy bitcoin, you will be limited to 500,000 CAD. In the case of a sale, the maximum amount equals 750,000 CAD. These amounts can be increased if you contact support. There is no maximum per transaction.

Is Bull Bitcoin Safe and Legit?

Bull Bitcoin is a legitimate Canadian company. It is a noncustodial bitcoin exchange, which means that they do not hold custody of your funds. This reduces the risk of funds being stolen from the exchange or lost if the exchange fails. Bull Bitcoin also prioritizes your privacy and security by utilizing advanced encryption protocols and two-factor authentication. Additionally, they have a track record of operating in compliance with Canadian regulations and have not experienced any significant security breaches to date.

Is Bull Bitcoin a Good Exchange?

Bull Bitcoin is a Bitcoin-only exchange, making it an attractive option if you are dedicated solely to trading in Bitcoin. Additionally, Bull Bitcoin supports advanced features like the Lightning Network and Liquid to enhance the options of users. Another advantage is its support for dollar-cost averaging, which allows you to steadily accumulate Bitcoin over time. Moreover, Bull Bitcoin does not require Know Your Customer (KYC) verification. The fact that Bull Bitcoin requires you to use self-custodial wallets instead of keeping funds on the exchange ensures the safety of your funds. In the event that the exchange collapses, you won’t lose your funds because they are stored in your own wallet.

However, it’s important to note that Bull Bitcoin operates as a centralized exchange, which comes with inherent risks such as potential security vulnerabilities or regulatory scrutiny. Furthermore, the absence of a mobile app may inconvenience you if you prefer trading on the go, and if you who opt for bank-based funding will need to undergo KYC verification, compromising some level of privacy. Additionally, you should be aware of the fees involved, including a flat fee charged by Canada Post for cash transactions and Bull Bitcoin’s flat fee of 2% per trade at the Post, which can impact the overall cost of trading. Despite these drawbacks, Bull Bitcoin offers a safe, private, and secure platform for buying and selling bitcoin in Canada.

More Information

• Bull Bitcoin website
• Bull Bitcoin updates on Twitter
• Bull Bitcoin reviews on Trustpilot