Buy bitcoins
How to buy bitcoins
Search articles

How to buy bitcoins

Shawn Butchart

Buying and selling bitcoins in the Cancoin Marketplace is done directly from other user created listings. Simply find your preferred price, location and payment type and create your order to be buying bitcoins in minutes.


To buy bitcoins in the Marketplace, use the following steps:

  1. Login to your account and view the available sell listings.
  2. Find your preferred price and payment type using the available filters and click the corresponding ’buy’ button to display your preferred listing’s details. Review the listing details including the seller, their Marketplace rating and their terms. If you are happy to continue, enter the amount of bitcoin you would like to buy and click ‘Continue with order’.
  3. Wait for the seller to fill the order escrow wallet, which is shown on the order page and verifiable on the blockchain. When the order wallet has been filled and confirmed by the seller, you will receive a notification via browser, desktop, SMS or email depending on your preferences, and the order funds will be secured and visible in the order escrow wallet.
  4. Chat with the seller in the OpenPGP encrypted order chat window to receive the private details necessary to make your payment. Once you have received these, make the full fiat payment to the seller. When the payment has been made, let the seller know and upload any proof of payment via the in-order encrypted file area.
  5. Once the seller has successfully received payment and proof, they will sign the outgoing escrow wallet transaction with their private key. Cancoin will then apply the second signature via a HSM secured private key, and the bitcoins in the escrow wallet will be sent to your personal Cancoin wallet. You will receive a notification letting you know that the outgoing order transaction has been sent and confirmed, and a second that indicates a new transaction to your personal wallet.
  6. Leave a rating and submit a sentence or two of feedback for the seller to complete the order.

Alternatively, if you can’t find the price or preferences that you are looking for, you can create a new buy listing to set your own price and let other Marketplace users sell bitcoins to you.