HomeCanada > CIBC Bank

Can you buy Bitcoin with CIBC Bank? 2022

Summary: CIBC Bank does not currently offer any services for there customers to buy and sell digital assets like Bitcoin or Ethereum. CIBC Bank account holders must sign up to a licensed cryptocurrency exchange in Canada to invest in the asset class.

David Cohen

Senior Writer at Buy Bitcoin Finder

Can I buy Cryptocurrency with CIBC Bank?

As at time of writing, CIBC Bank in Canada does not have any services through their online banking platform that enables investors to trade cryptocurrency.

However, CIBC Bank account holders can seamlessly buy, sell and trade Bitcoin as well as other cryptocurrencies with a CIBC account using an Interac e-Transfer.

In order to do this, you will need to sign up to a licensed and regulated cryptocurrency exchange in Canada. We recommend Bitbuy as the best cryptocurrency exchange in Canada because they are a FINTRAC licensed platform with low fees and fast deposits.

How to Buy Crypto with a CIBC Bank account

CIBC Bank account holders in Canada can simply sign up to Bitbuy, connect their bank account and do an instant deposit via Interac e-Transfer. You can follow the short guide below to get started.

  1. Register an account with Bitbuy
  2. Enable two-factor authentication to secure your account
  3. Verify your email address and identification
  4. Connect your CIBC account to deposit Canadian Dollars via Interac e-Transfer
  5. Visit the trade screen and select 'buy Bitcoin'
  6. Input the amount of Bitcoin you want to buy in Canadian Dollars (CAD)
  7. Preview your order and select 'Buy'

CIBC Bank Cryptocurrency Policy

CIBC Bank does not have any internal banking policies that prohibit their customers from trading cryptocurrencies from licensed platforms. This ultimately means you will not have issues with the bank freezing your funds if you use a FINTRAC licensed exchange.

Visit Bitbuy