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How To Buy Bitcoin In Canada: 7 Options Reviewed

How To Buy Bitcoin In Canada: 7 Options Reviewed

How to Buy Bitcoin in Canada: 7 Options Reviewed Last updated on February 7th, 2018 at 11:57 am This guide will show you where to go about buying Bitcoin in Canada. Itll also explore the legality and popularity of this cryptocurrency in the country. While digital currencies arent considered legal tender, Bitcoin is legal in Canada. According to the Government of Canada website , tax rules do apply to digital currency transactions, and cryptocurrencies such as Bitcoin are subject to the Income Tax Act. Canadian residents are therefore free to buy, sell, and trade Bitcoin, which is regulated under antimoney laundering and counterterrorist financing laws. In 2016, Bitcoin.com named Canada on its list of the ten most Bitcoin-friendly countries in the world , citing the countrys many Bitcoin startups and ATMs, particularly in cities such as Toronto and Vancouver. Weekly LocalBitcoins volumes for the Canadian dollar show a gradual increase in interest throughout the course of 2017. Volumes were fairly low for much of the yearoften at less than $200,000 per weekbut this multiplied several times by late November to early December 2017, when volumes reached a peak of over $1.4 million. We can see a similar pattern on Google Trends, where there was a gentle rise in interest for the search term Bitcoin throughout 2017 before it reached peak popularity in early December. What are the main Canadian Bitcoin communities? Due to increasing popularity and growing interest, there are plenty of Canadian Bitcoin communities to be found. The main communities can be found on Reddit and CoinForum . Theres also a large Meetup group based in Toronto. Are there any local Bitcoin exchanges based in Canada? There are many Bitcoin exchanges based in Canada. Among the most popular are QuadrigaCX an Continue reading >>

How Do I Buy Bitcoin In Canada?

How Do I Buy Bitcoin In Canada?

If you live in Canada, buying and selling Bitcoin may be a bit more difficult as banks and regulators here are not too familiar with the concept of CryptoCurrencies and blockchain technology. Worry not,once you finish this guide you'll be an expert on how to buy Bitcoin in Canada! So for us Canadians, we have a couple ofexcellent options. We have an online exchange called QuadrigaCX where you can buy and sell Bitcoin and Ethereum. There are two really good options made specifically for Canadians for buying and selling, but there is always coinbase as well if you just want quick debit and credit buying. We have a fast, safe, and easy guide here that you can read to learn more ! Click the image above to quickly sign up for Coinbase , the most fast and safe way to buy and hold CryptoCurrency like Bitcoin, Ethereum, and Litecoin. You'll also get a free $10 worth of Bitcoin just for you if you sign up through this partnerlink we have provided! Now I will explain the two Canadian specific ways on how you can buy and sell some CryptoCurrencies. Here goes! For this exchange and method, you are required to verify your identity due to know your customer and anti-money laundering laws (KYC/AML). QuadrigaCX(click link to sign up easily) is one highest volume exchanges for Canadian fiat trading pairs. Don't want to reveal your identity? There is another method I will outline later in this article, read on and you'll get there! Click the image above to quickly sign up for QuadrigaCX. The best exchange for Canadians right now is undoubtedly QuadrigaCX . After clicking that link you'll be directed to their home page, where you can register for an account. Really is simple, fun, and easy, isn't it? Here you'll have to choose your password and transaction PIN. Make sure you write down t Continue reading >>

Welcome - Canadian Bitcoins

Welcome - Canadian Bitcoins

Buy & Sell Bitcoins, Litecoins & Ethers with $CAD Dec 7 2017 We are temporarily not accepting cash in our office for purchasing crypto. Debit in-office is still available. Cash purchasing in-office will be re-opened next week. Buy Bitcoins @ $23236.95/BTC or Preload CAD Auto-graduation system in place (learn more) Does NOT WORK if you have a Hybrid Debit/Credit card (learn more) Only available for BMO, RBC, ScotiaBank, TD, and several credit unions (full list) No fixed rate due to bank processing time (2-3 business days) Direct Debit from your Bank Account (FREE) Instant Processing available 24/7/365 (learn more) Instant Processing available 24/7/365 (learn more) Direct Deposit to your Bank Account (FREE) Cash / XpressPost (National) ($25 or FREE over $1000) Cash / XpressPost (Ontario/Quebec) ($20 or FREE over $1000) Cash / In Person Pickup (Ottawa) ($5 or FREE over $500) 2 4 business days until ready for pickup Continue reading >>

25 Exchanges To Buy Bitcoin In Canada

25 Exchanges To Buy Bitcoin In Canada

Technically, VirWoX isn't even a Bitcoin exchange. It mainly serves as a way for people to buy Second Life Lindens, a currency used in the virtual world Second Life. You can't buy Bitcoin with PayPal directly at VirWoX, but it's possible to first buy Second Life Lindens (SLL) and then trade your SLL for Bitcoin. This process works perfectly, but in the end will cost you about 10% in fees. This workaround/hack has made VirWoX the easiest and most popular way to buy bitcoins with PayPal . The easiest and basically only way to purchase bitcoins with PayPal or Skrill Comes with a price: it will cost around 10% in fees to buy with PayPal Continue reading >>

Bitcoin For Canadians: Where To Buy It And The Taxes Youll Pay

Bitcoin For Canadians: Where To Buy It And The Taxes Youll Pay

Bitcoin for Canadians: Where to buy it and the taxes youll pay By Erica Alini National Online Journalist, Money/Consumer Global News WATCH: Bitcoin 101: Where to buy it, hold it, trade it. Bitcoin continued its gravity-defying trajectory on Wednesday, breaking through the C$16,000 mark. The skyrocketing rise of the cryptocurrency this year, and particularly over the past few weeks, has prompted comparisons to the dot-com bubble of the late 1990s and the tulip bulb craze of the early 17th century, both textbook cases of booms that went bust, leaving many in financial ruin. READ MORE: Tempted to invest in Bitcoin? Here are a few things to consider Still, if you have a few extra dollars to spare money you can lose with no consequence where do you go to buy Bitcoin and other digital currencies? The web is full of Bitcoin spams, and theres precious little out there about where Canadians, specifically, can find and trade digital tokens. Global News spoke to cryptocurrency experts to prepare a brief primer for Canucks. Vancouvers QuadrigaCX.com is likely the countrys largest exchange for Bitcoin, saidJames Kupka, communications director at Decentral, a Toronto-based cryptocurrency company founded byAnthony Diiorio,who used to be chief digital officer atthe TMX Group and the Toronto Stock Exchange. Theres also Torontos Coinsquare.io . Both require users to set up an account, with an on-boarding process similar to that required by traditional online investing platforms. At a minimum, youll need an email address and ID. Both exchanges accept e-transfers and bank wires for funding and withdrawal, among other options. Unfortunately, though, neither accepts credit cards. For that, many turn to San Francisco-based Coinbase, which also allows Canadians to use their debit cards . Howe Continue reading >>

Buy Bitcoin/ethereum In Canada - Coinbase

Buy Bitcoin/ethereum In Canada - Coinbase

Coinbase, headquartered in San Francisco, has become one of the most prominent businesses, allowing people to buy and store bitcoins and developing deals with merchants to help them carry out bitcoin transactions. One of the first steps, however, is getting Bitcoin into the hands of more people, and companies like Coinbase along with other exchanges that accept multiple currencies are playing a big role in expanding the virtual currencys network. Coinbase has done a good job of simplifying bitcoin use. To pay for sushi at a local shop, I used the Coinbase app on my Android phone to scan the QR code presented by my server. Continue reading >>

Kfc Canada Is Accepting Bitcoin For Fried Chicken

Kfc Canada Is Accepting Bitcoin For Fried Chicken

KFC Canada Is Accepting Bitcoin for Fried Chicken Jan 12, 2018 at 03:15 UTC|UpdatedJan 12, 2018 at 13:00 UTC Fried chicken chain KFC Canada is accepting bitcoin - for a limited time and for a cryptocurrency-themed bucket of chicken, that is. The limited-time marketing move sees the Canada-based chain advertising "The Bitcoin Bucket" complete with a Facebook-based live-tracker of the standing price for theproduct, which works out to roughly 20 Canadian dollars depending on the exchange rate with bitcoin. That said, you can't exactly walk into a KFC location in Canada and pay with crypto at the cash register. Instead, the company is acceptingBitcoin via BitPay as one of the options through an online check-out page. The Bitcoin Bucket will be delivered directly to the customer's address (the product also carries a $5 fee), according to thecheck-out process on its website. KFC Canada doesn't seem to be holding back with the tongue-in-cheek presentation, particularly through its social channels. If Satoshi reveals his true identity, his bucket is on us. #BitcoinBucket -- KFC Canada (@kfc_canada) January 11, 2018 Indeed, the company appears to be jumping on the publicity bandwagon surrounding cryptocurrencies. However, unlike some public-traded firms that have seen their stock prices soar after announcing some kind of tie-in with the tech, the move doesn't seem to have had much of an effect on the price for Yum! Brands, KFC's parent company. In one post on Twitter, the rep managing the KFC Canada account suggested that the company may accept other cryptocurrencies as well. Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has anownership stake in BitPay. Image Credit:Ratana21/Shutterstock.com The leader in blockchain news, CoinDesk is a media outlet that s Continue reading >>

What's Fuelling The Potential Bitcoin Mining Boom In Canada

What's Fuelling The Potential Bitcoin Mining Boom In Canada

What's fuelling the potential bitcoin mining boom in Canada We're experimenting with a new look. Learn more . What's fuelling the potential bitcoin mining boom in Canada Cheap, reliable power has foreign bitcoin miners calling Canadian utilities and energy companies in hopes of cashing in on the cryptocurrency craze. Power companies in Manitoba and Quebec have been inundated with inquiries from mining companies Posted: Feb 28, 2018 4:00 AM ET | Last Updated: February 28 This sprawling bitcoin mine operated by Toronto-based Hut Eight is located just outside Drumheller, Alta. (Dave Rae/CBC) A strong winter wind whips across the frigid Alberta prairie just north of Drumheller. Hardyentrepreneurs have long searched for the oil and gas buried under these hills and fields, but these days, this harsh landscape is attracting a different kind of treasure hunter. Toronto's Hut Eight operates a mine that pops out on the horizon at the top of a hill: A gated compound filled with rows of shipping containers, 48 in all, each crammed with high-powered computers referred to as rigs designed to turn all of that computing power into digital currency. Sites like this are also popping up in Quebec, Manitoba and B.C.as a relatively cheap and reliable supply of electricity makes digital currency mining a more cost-effective proposition. So much so, in fact, many foreign operators are looking to set up mines in the Great White North. A look from outside Hut Eight's digital currency mine in central Alberta. The shipping containers are filled with computers, known as rigs, that process digital currency transactions in order to earn digital currency for the company. (Dave Rae/CBC) Bitcoin has made plenty of headlines since its price skyrocketed to nearly $20,000 US late last year. Since then, i Continue reading >>

Bitcoin Keeping Me Awake At Night: Bank Of Canada Governor

Bitcoin Keeping Me Awake At Night: Bank Of Canada Governor

Bitcoin Keeping Me Awake at Night: Bank of Canada Governor Join our community of 10 000 traders on Hacked.com for just $39 per month. U.S. Federal Reserve Chair Janet Yellen may not think that cryptocurrencies play much of a role in the economy, but the head of the Bank of Canada said that the hype surrounding bitcoin keeps him awake at night. Bitcoin Keeping Me Awake at Night: Canadian Banking Chief In a year-end speech titled Three Things Keeping Me Awake at Night , Stephen Poloz, governor of Canadas central bank, told attendees at the Canadian Club of Toronto that three of his chief concerns heading into the new year are cyber threats, rising household debt due to the cost of housing, and the difficulties that younger Canadians face when trying to find employment. However, before he concluded his speech, Poloz confessed that there is something else that causes him to lose sleep: the noise I keep hearing about cryptocurrencies, especially Bitcoin. In true Festivus tradition , Poloz aired his list of grievances against bitcoin, beginning with the misnomer of calling it a cryptocurrency. To begin with basics, the term cryptocurrency is a misnomercrypto, yes, but currency, no. For something to be considered a currency, it must act as a reliable store of value, and you should be able to spend it easily. These instruments possess neither of these characteristics, so they do not constitute money, Poloz said. Rather, he said, cryptocurrencies are structurally more akin to high-risk securities, although purchasing them resembles gambling more than investing. So, what are cryptocurrencies, exactly? Characteristics vary widely but, generally speaking, they can be thought of as securities, Poloz said. What their true value is may be anyones guessperhaps the most one can say is Continue reading >>

Cheap Energy Draws Bitcoin Miners To Canada

Cheap Energy Draws Bitcoin Miners To Canada

Cheap Energy Draws Bitcoin Miners To Canada By Editorial Dept - Jan 16, 2018, 3:00 PM CST A new leak has sprung from Chinas bitcoin rumor pool. And while markets have grown resilient of such news, this new potential crackdown seems to have spooked miners. Chinas bitcoin mining scene is huge, accounting for over half of the worlds mining power, with giant Bitmain Technologies leading the way. Chinese miners enjoy cheap labor and electricity from small towns scattered around rural China. But is this gravy train coming to an end? Initially reported on Reuters , a leak from a private meeting among officials from the Peoples Bank of China will reportedly pressure local governments to regulate the energy usage of miners in order to scale back their production. In a separate report from Bloomberg , another unnamed source denied the claim. Bitcoin veterans are no stranger to conflicting news coming from China, but it seems that some miners are looking for alternatives, and Canadian energy companies are looking to step up to meet the demand. Hydro-Quebec is in a unique position to court bitcoin miners. As Canadas largest utility provider, the company is offering techies special deals to move data-centers or mining operations into the Great White North. The utility giant is offering electricity costs of $0.0248 per kWh to data centers, and $0.0394 per kWh to cryptocurrency miners, 50 to 75 percent cheaper than comparable North American alternatives. With these huge savings, Hydro-Quebec is reportedly scrambling to keep up with demand. Related: Is Venezuelas Oil Industry Bouncing Back? Business development director of Hydro-Quebec, David Vincent, noted: I have so much demand right now theres no need for marketing. Pretty much every day I have a new one. Another spokesman went on Continue reading >>

Quadriga Coin Exchange | Home

Quadriga Coin Exchange | Home

Ethereum Byzantium Update October 15th, 2017 On Monday October 16th, 2017, the Byzantium update will occur on the Ethereum network. The update will occur precisely at block 4,370,000. Approximately 200 blocks prior to this update, Ether fundings and withdrawals will be disabled to allow our tech engineers to upgrade our systems in accordance with the guidelines set forth by the Ethereum foundation. Ether fundings and withdrawals will be re-enabled shortly afterwards, as soon as the network has stabilized. For more information on the Byzantium upgrade, please visit: Happy Thanksgiving from the entire team at QuadrigaCX. Please note that our staff will be available over this long weekend, although on a reduced basis. Canadian banks and Canada Post are closed Monday October 9th in observation of the holiday. Have a safe and happy long weekend! We have officially launched our new support centre, which can be reached via the Support Centre navigation link on every page. To help streamline the customer support process, please direct any and all inquiries through our new support centre rather than our previous email addresses. Continue reading >>

Why Canada Is Poised To Become A Prime Destination For Bitcoin Mining

Why Canada Is Poised To Become A Prime Destination For Bitcoin Mining

Why Canada is poised to become a prime destination for Bitcoin mining By Jessica Vomiero National Online Journalist Global News From cryptocurrency startups to major bitcoin investors, Montrealers of all ages are jumping onto the bitcoin bandwagon. Howard Cohen reports on how cyrtocurrencies are creating tight-knit communities in the city. As platforms like Bitcoin continue to expand, Canada may soon be able to count itself among the worlds prime cryptocurrency mining destinations. Canada is about to become a central source, explained Cole Diamond, CEO of Coinsquare, one of Canadas leading cryptocurrency exchanges. I think theres definitely a rush happening now. I think were going to have a significant amount of mining in the next few months. WATCH: More B.C. home-sellers accepting Bitcoin Cryptocurrency mining is a process by which digital currency transactions are recorded, verified and stored in a public ledger called the blockchain. This process is carried out by miners, who use powerful computers to navigate cryptographic problems to select transaction blocks. The transaction fees associated with using cryptocurrencies are awarded to the miners. This process however, uses a significant amount of energy and requires temperatures be kept to a minimum. READ MORE: No, you cant pay your taxes in Bitcoin: Mounties issue warning on new twist to CRA scam Touting a long list of benefits including stable government, cheap electricity and cold temperatures, experts predict that it wont be long before mining operations want to set up shop in the true north strong and free if they havent already. Canadas government is supportive and Chinese miners need a new place to call home As China, one of the worlds chief mining locations, cracks down on cryptocurrency mining operations, Continue reading >>

Canadian Regulator Warns Against 'illegal' Crypto Investment Scheme

Canadian Regulator Warns Against 'illegal' Crypto Investment Scheme

Canadian Regulator Warns Against 'Illegal' Crypto Investment Scheme A finance regulator in the Canadian province of New Brunswick has warned residents about investing in a so-called "cryptocurrency bank" and its associated token. In a March 5 statement , representatives from the Financial and Consumer Services Commission (FCSC) sounded the alarm about Bitcoin-bank.io , which according to its website promises a daily return on deposits through the use of a "BTCB" token. The site notably restricts the days on which the token in question can be bought or sold, stating that the first such "selling day" isn't until April 23. According to the FCSC, the Bitcoin-bank offering is illegal. "The commission took a close look at the website after becoming aware the cryptobank was advertising its investment opportunities on a Canadian online classified site," the regulator said in a statement. "Since it is not registered to trade in, or advise on, securities or derivatives in New Brunswick, it is illegal for Bitcoin-bank.io to carry out these activities in the province." Additionally, a claimed California address is fake, the commission said upon investigating the location, and that some of the marketing materials distributed by promoters contain fictitious information as well. "The review also revealed that many of the photographs accompanying team profiles on the website had been taken from other sites with fake names attached, and that content had been copied from other websites," the FCSC said. The alleged cryptocurrency scam is the latest to take shape in Canada, which has seen a number of schemes solicit investors in recent months. Last year, Canadian police issued a warning over a bitcoin tax scam , where fraudsters claiming to be part of the nation's Revenue Agency threatene Continue reading >>

Bitcoin Trading Is 'gambling': Canada Central Bank Governor

Bitcoin Trading Is 'gambling': Canada Central Bank Governor

Bitcoin trading is "gambling," Canada's central bank governor told CNBC on Thursday, adding that he was looking to work with global regulators to develop regulations around cryptocurrencies. Stephen Poloz, who heads up the Bank of Canada, said buyers of digital coins should "beware" and that he would not call cryptocurrencies assets. "They are crypto but they are not currencies," Poloz told CNBC during an interview at The Sanctuary in Davos. "I'm not really sure what they are. They are not assets really I suppose they are securities technically There is no intrinsic value for something like bitcoin so it's not really an asset one can analyze. It's just essentially speculative or gambling." Poloz joins a chorus of central bankers and regulators warning about the dangers of cryptocurrencies which saw huge price surges in 2017. Lars Rohde, the head of Denmark's central bank, called bitcoin investing "deadly" last year. Stephen Poloz, governor of the Bank of Canada Many business leaders have also warned on the dangers of investing in bitcoin including J.P. Morgan CEO Jamie Dimon who famously called the cryptocurrency a "fraud" while investing legend Warren Buffett said the space will "come to a bad ending." Poloz told CNBC that if the cryptocurrency market, which is highly volatile, were to crash, it would not have bad implications on the wider economy. "One parallel we could draw would be the tech wreck. When we had the tech wreck, that was a much more widespread exposure. And the fact it had barely had perceptible effect on the real economy because it was not a stock market crash but just a segment of the stock market. But it was highly speculative, there was all kinds of bubbles there," Poloz explained. "So I think if you take that experience to heart, if something like Continue reading >>

How To Buy Bitcoin In Canada?

How To Buy Bitcoin In Canada?

Bitcoin is a currency, more commonly referred to as a cryptocurrency that is created and exists in electronic form, with no physical version for Bitcoin holders to possess. Bitcoin was created by Satoshi Nakamoto and was released in 2009. Nakamotos vision was to create a digital currency that falls out of the reach of governments and central banks. Bitcoin continues to grab the headlines, but its not just the currency itself that is worthy of praise, with the blockchain technology behind the currency considered to be a first of its kind. The ethos of Bitcoin and other cryptocurrencies is the decentralized element. Bitcoin transactions all over the world are recorded and stored on the blockchain. The blockchain is a public ledger that is found on all of the computers within the Bitcoin network. All of the ledgers are synchronized with no master ledger. The verification and update process for Bitcoin transactions is referred to as Bitcoin mining . The process is independent, with miners selected at random to verify transactions over a given period of time. Once the verification is complete, the transaction information is incorporated into a block, which then links to the blockchain. Miners receive Bitcoins as a reward for the verification process. With the decentralized ethos of Bitcoin, the other attribute is the anonymity given to those buying, selling or holding Bitcoins. Since the evolution of Bitcoin, other cryptocurrencies have hit the market as having offshoots of Bitcoin itself, with Bitcoin Cash and Bitcoin Gold having been created in the 2nd half of this year. Buying Bitcoin in Canada could be done in various ways: Via Bitcoin exchanges, through CFDs or through ATMs. While buying Bitcoin via exchange and ATMs provides you the legal possession of the cryptocurre Continue reading >>

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