247exchange expands to Canada and offers instant ways of buying bitcoin

Chances are that the 247exchange represents one of the most well-spread, but also quickest exchanges around, handling thousands of transactions on a daily basis.

Recently, the exchange, managed by the InterMoney Exchange, a group of financial companies, has announced that they have expanded their services to Canada. Based on this, Canadians will now be able to freely purchase bitcoin and altcoin, without spending too much money and time.

To make things easier for Canadians, in cooperation with the Vogogo payment processor, citizens will be able to purchase bitcoin via the popular EFT/eCheck services. With this in mind, all that’s needed is an account over at a Canadian Bank. The traditional method of buying coins via credit and debit cards is also available. To learn more about the services, we asked Andrey Vereshchagin, Marketing Director of InterMoney Exchange, a couple of questions.

Are there any legal implications concerning buying bitcoin and altcoins via EFT?

Yes, according to our AML policy, user verification is required for all buying transactions including the ones via EFT. ID, address, phone verification are required in this case. In some cases, the additional info might be requested from the user. All this helps to prevent possible scam and fraudulent transactions.

Will the feature be available in other countries in the foreseeable future?

If you ask about EFT, we haven’t thought of it yet, to be honest. Speaking in general, the most demanded payment method on our website is credit/debit cards, because it’s instant and available to everyone. But we expect that in Canada, users will also actively use Interac Online and EFT. The tests in which Canadian Bitcoin users participated shows that both are very convenient options, especially Interac Online, which is instant. We’re testing the breakthrough feature – on our website customers will be able to buy bitcoin and altcoins via EFT (which is available for every person in Canada) with instant rate fixation.

Based on everything that has been outlined so far, what do you think about the new features being offered by the 247exchange? Let us know your thoughts in the comment section below.

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  • hopefully soon it will be accessible in developing countries.