Interac is a rapid, safe, and convenient Canadian payment method to transact and send money to anyone located in Canada via online banking.
Are you from Canada and plan to buy Bitcoin or Ethereum with Interac and want to find which crypto sites that suppor that? Then you are at the right place!
Both the casino and crypto business is increasing in Canada, and people tend to rely on cryptocurrencies to transact and make their bets. You can get started with one of the best Canadian deposit methods – Interac – using your mobile device. Interac is famous as a deposit method as one can use it to deposit funds to their casino wallet through cryptocurrency directly from their bank account. Crypto sites that accept Interac deposit method include the casinos that facilitate the cryptocurrency exchange and ensure that people can use it to deposit their funds to the platform.
Top 4 sites for buying, selling and trading crypto with Interac
This is the toplist with the best sites to buy, sell or trade cryptocurrencies through Interac. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button.
We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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- 1 Top 4 sites for buying, selling and trading crypto with Interac
The method is known for its reputation in Canada as one of the best. Some crypto exchanges allow these deposits as their preferred method. Crypto sites that accept Interac include Bit Buy, CoinSmart, and Local Bitcoins, among others. Therefore, the features let users register to deposit their funding directly to their bank account without the need to answer security questions. Crypto sites that accept Interac deposit method ensure that these transactions are smooth and precise to promote people’s activities on these exchanges. Such activities include gambling on casino sites that accept crypto. Therefore, you need to understand how to use these crypto sites that accept Interac deposit method.
+Interac offers safe transactions for your data and funds.
+It is easy to use, and there are minimal complications.
+Interac shows fast transactions and works almost instantly.
+The deposit method does not have any hidden fees.
+Interac has been a trusted option in Canada for many years.
-The services are only available in Canada.
-Interac charges a fee when sending funds to the bank.
-Not all Canadian banks support the deposit method.
-Transactions can be delay up to 30 minutes.
-Rather few crypto sites support Interac for deposits.
What is Interac?
Interac is an online banking facility based in Canada. What makes it unique as a transaction method is that it only operates within the confines of Canada. It is a quick, safe, and easy solution to process internet payments. The deposit method enables people to transact without running to the ATM or having to write a cheque. The service lets customers pay for cryptocurrency over the internet using funds directly from their bank accounts. Crypto sites that accept Interac deposit method use it since it does not share any financial information with the online merchants making it more secure than credit card payments.
When making deposits, there are no fees associated with it. The banks can charge fees depending on the crypto exchange account type or casino platforms. Most casinos use cryptocurrency to transact, making Interac a suitable transaction method that crypto sites use for exchange. The costs, therefore, ensure that the gamblers do not pay any fees when depositing and withdrawing. Additionally, there are no withdrawal fees when using Interac. The cryptocurrency exchanges based in Canada give an avenue to purchase crypto with Interac for as low as 0.1% fees. The fees of these transaction methods vary depending on the crypto site that accepts Interac. Cryptocurrency exchanges that facilitate bulk cryptocurrency purchases will incur low fees in Canada.
Transaction speed for Interac
The transaction speed is reasonably fast, and the process is almost instant. However, it may take up to 30 minutes for the funds to reflect in the account, depending on the crypto exchange platform you use. There is a preference for rapid transfers among gamblers who use crypto sites that accept Interac deposit method, facilitating their winnings faster.
Funding your account is an essential step, and here is how to do it:
1. Choose Interac from the list of deposit options. You can claim a casino bonus before you deposit.
2. Put in the deposit amount, get redirected to a separate payment window to verify your information, and press GO to complete the transaction.
3. Finalize the transaction with a verification method of your choice, such as Face ID, Touch ID, or PIN code on your mobile device.
Which are the leading countries where Interac is used?
The leading country that uses Interac is Canada. The deposits can only be made in the country, and there are restrictions on using this method in other countries. There is no practical method for people outside Canada, for instance, those in the United States, to use the transfer as a deposit method for purchasing cryptocurrency.
Can you withdraw with Interac?
The e-transfer is available as a withdrawal option. You can select the “Withdraw” option and the amount, then finalize the process. When the withdrawal is approved and processed, you will receive an email and text message that provides instructions to accept the transfer. You can then log in to your online banking portal and follow the instructions to accept the transfer. The funds will be credited to your bank account within one to three business days. There are no fees for the withdrawals.
Reputation of Interac
The longstanding use of the platform as a transaction method makes the company reputable. People talk of using the platform as it supports cryptocurrency purchases that can be used in sites such as casinos to gamble and transact winnings via crypto. Canadians recognize Interac as the country’s most trusted financial brand, and its reputation has been that way for the last seven years. There is an increase in overall trust as the platform prioritizes the consumer. Canadians praise the brand for protecting customers’ privacy and data and encouraging them to enhance their services.
Below are some of the most frequently asked questions about Interac as a deposit method for crypto exchanges and online casinos.
Is it safe to use Interac for cryptocurrencies
It is safe as users are protected by multiple layers of security, making it secure globally. Security measures safeguarding cryptocurrencies include encryption technology, confidential user IDs, and passwords. If the cryptocurrency exchange you are depositing money to is secure, it is safe to use it for crypto.
How do I set up Interac?
You can follow the guide below, with 4 simple steps:
1. Log in to the banking or mobile app.
2. Search for the Auto-deposit section in the e-transfer section.
3. Register your email address and link the preferred account to it.
4. Click “Complete Registration” in the confirmation email.
Is Interac instant?
The process is almost instant, and it could take a few seconds. However, sometimes, the payments could delay up to 30 minutes.
When was Interac founded?
It was founded in 1984 via a cooperative venture between five financial institutions: CIBC, RBC, Scotiabank, Desjardins, and TD.
Where is the mother company based?
Its location is at Royal Bank Plaza in Toronto.
Does Interac only work on Apple devices?
No. It works on smartphones and laptops.