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Canada And Bitcoin

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 >>

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 >>

Legality Of Bitcoin By Country Or Territory

Legality Of Bitcoin By Country Or Territory

Legality of bitcoin by country or territory For a broader coverage related to this topic, see Bitcoin . The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. [1] Whilst the majority of countries do not make the usage of bitcoin itself illegal (with the exceptions of: Bangladesh, Bolivia, Ecuador & Kyrgyzstan), its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well. The European Union has passed no specific legislation relative to the status of the bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin. VAT/GST and other taxes (such as income tax) still apply to transactions made using bitcoins for goods and services. [2] :European Union In October 2015, the Court of Justice of the European Union ruled that "The exchange of traditional currencies for units of the bitcoin virtual currency is exempt from VAT" and that "Member States must exempt, inter alia, transactions relating to currency, bank notes and coins used as legal tender", making bitcoin a currency as opposed to being a commodity. [3] [4] According to judges, the tax shouldnt be charged because bitcoins should be treated as a means of payment. [5] According to the European Central Bank , traditional financial sector regulation is not applicable to bitcoin because it does not involve t Continue reading >>

Digital Currency - Canada.ca

Digital Currency - Canada.ca

This page is about cryptocurrencies, which are not issued or governed by a government or central bank. Digital currency is electronic money. It's not available as bills or coins. Cryptocurrencies are a type of digital currency created using computer algorithms. The most popular cryptocurrency is Bitcoin. No single organization, such as a central bank, creates digital currencies. Digital currencies are based on a decentralized, peer-to-peer (P2P) network. The peers in this network are the people that take part in digital currency transactions, and their computers make up the network. You can use digital currencies to buy goods and services on the Internet and in stores that accept digital currencies. You may also buy and sell digital currency on open exchanges, called digital currency or cryptocurrency exchanges. An open exchange is similar to a stock market. To use digital currencies, you need to create a digital currency wallet to store and transfer digital currencies. You can store your wallet yourself or have a wallet provider manage your digital currency for you. You need a public key and a private key to use your wallet. Keys are made up of a random sequence of numbers and letters. Public keys are used to identify your wallet. Private keys are used to unlock your wallet and access your money. Private keys should be kept secret. All transactions are recorded to a public ledger or blockchain that everyone can see. Digital currencies are not a legal tender Digital currencies, such as Bitcoin or other cryptocurrencies, are not legal tender in Canada. Only the Canadian dollar is considered official currency in Canada. bank notes issued by the Bank of Canada under the Bank of Canada Act coins issued under the Royal Canadian Mint Act Digital currencies are not supported Continue reading >>

Bitcoin Miners To Move Form China To India And Canada | City & Business | Finance | Express.co.uk

Bitcoin Miners To Move Form China To India And Canada | City & Business | Finance | Express.co.uk

Bitcoin is a new kind of money [Getty Images] According to environment news site Grist, if the currencys growth continues on its current trajectory, it will use as much as the entire USA in just 18 months time. By February 2020 the environmental news site claims bitcoin would use as much electricity as the entire world does today. And every bitcoin transaction requires enough energy to power nine homes in the US for one day. This is due to the complex process of bitcoin mining. Computers have to solve maths problems in order to create more of the currency. The computing power of the bitcoin network is already 100,000 times larger than the worlds 500 fastest supercomputers. This draws in electricity from all over the world to bitcoin mining. In Venezuela, bitcoin mining operations have caused blackouts across the country. Bitmain, the worlds largest blockchain mining company is considering moving operations to Canada. BTC.Top a Chinese miner is also setting up a location in Canada. Chris Keshian, the CEO of San Francisco-based Apex Token Fund, a fund of crypto hedge funds said: Weve seen a lot of movement towards Canada. The Canadian government is relatively friendly towards cryptocurrencies and energy is relatively cheap there. Quebec has been attempting to encourage miners to set up business in Canada as they believe it will benefit local economies. 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 >>

A Made-in-canada Cryptocurrency Called Ethereum Is Building On The Bitcoin Revolution

A Made-in-canada Cryptocurrency Called Ethereum Is Building On The Bitcoin Revolution

A made-in-Canada cryptocurrency called ethereum is building on the bitcoin revolution We're experimenting with a new look. Learn more . A made-in-Canada cryptocurrency called ethereum is building on the bitcoin revolution In the increasingly valuable world of cryptocurrencies, bitcoin is still king. But Alex Tapscott, CEO of NextBlock Global, says a Canadian upstart called ethereum is worth watching too. Ether, like bitcoin, has seen a dramatic increase in value over the last year. Imagine what the internet did for communication and the exchange of information. Now picture that kind of sweeping change to the world of money; that sort of ease and transparency applied to banking, stock markets and the ability of companies to raise money. As Alex Tapscott tells Day 6 guest host Peter Armstrong , we are moving on from the internet of information and beginning the age of the "internet of value." The value of the stock market is $80 trillion so we're tackling pretty big markets here. Tapscottis the chief executive officer of NextBlockGlobal , a Toronto-based digital currency investment firm. Don and Alex Tapscott's book, Blockchain Revolution, argues the technology underlying Bitcoin will revolutionize almost every facet of online activity. (Alex and Don Tapscott) "Blockchain represents the second generation of the internet," he says, referring to the technology that allows people to send and receive money through the internet without using a bank. Tapscottalso co-wrote BlockchainRevolution: How the Technology BehindBitcoinis Changing Money, Business and The World with his father DonTapscott . "Blockchain allows us to change the way we move, store and manage assets in the economy ... we're talking about industries that are a lot bigger than Blockbuster ... we're talking abou 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 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 >>

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 >>

Bank Of Canada Paper Weighs Central Bank-issued Cryptocurrency - Coindesk

Bank Of Canada Paper Weighs Central Bank-issued Cryptocurrency - Coindesk

Bank of Canada Paper Weighs Central Bank-Issued Cryptocurrency Central banks might benefit from issuing cryptographic versions of fiat currencies, but the benefits would vary depending on whether theydid so in an advanced or developing economy. At least that's according toBen Fung from the Central Bank of Canada and Walter Engert from the Office of the Superintendent of Financial Institutions, both of whom published a paper this week discussing the pros and cons for central banks issuing cryptocurrencies. Notably, the paper ends on the question of whether it's worth it for such institutions to offer cash or central bank digital currency (CBDC), should such demand drop deeply enough, though it ties the query to the idea this would need to come at the expense of cash use. "Is it sufficient for a central bank to supply only reserves to qualified financial institutions? Put differently, is a 'cashless society' a sound outcome?" The paper goes on to explore six different supposed benefits to a central bank for issuing a digital currency, but largely dismisses all but three: payments for consumers, financial inclusion and stability. For consumer payments, the authors write that a "CBDC would facilitate transactions that are currently foregone because of frictions that inhibit some types of transactions." In particular, it would reduce friction for online payments and entice smaller merchants to offer services over the internet. In some economies, they also see benefits in reducing costs for retail payments to consumers. The authors argue that financial inclusion would only really benefit in developing economies, though it cites several other existing solutions around the world (such as Africa's M-PESA system) that seem to be closing the gaps just as well as digital currency Continue reading >>

Canada Looking Into Bitcoins Risk Factor, Bill Morneau Says

Canada Looking Into Bitcoins Risk Factor, Bill Morneau Says

Canada looking into Bitcoins risk factor, Bill Morneau says Meanwhile, decades-old tax ruleswith no specific provisions for digital currencies are being applied to a fast-changing, online technology that presents its own complications. Some global policymakers are calling for swiftglobal action on regulation after Bitcoins meteoric 2017 rise and subsequent slide this year(JACK GUEZ / AFP/GETTY IMAGES) OTTAWACanadians trading bitcoin shouldnt hold their breath waiting for specific rules on how theyll be taxed. Finance Minister Bill Morneau, speaking on the sidelines of the World Economic Forum in Davos, said Canada isnt planning changes to existing tax code to deal with cryptocurrencies. But some observers say the rules leave too much room for uncertainty about Bitcoin, which in Canada can essentially be treated as money, a commodity or even income. We dont have any specific Bitcoin or cryptocurrency overhaul in the works, Morneau said. U.S. banks eye blockchain to resurrect 2008-era mortgage bundling The main focus on Bitcoin is making sure that we understand whats going on underneath that market, to make sure that we arent introducing any risks into our economy, whether they be risks like money laundering or terrorist financing. As an investment, he said, Bitcoins tax treatment isnt unique in any way. Some global policy-makers, however, are calling for swiftglobal action on regulation after Bitcoins meteoric 2017 rise and subsequent slide this year. The cryptocurrency increased more than 14-fold in 2017, according to Bloomberg pricing, and Morneaus status-quo approach is one example of the challenges regulators face in responding. They think that the current tax regime, tax system, effectively addresses this new technology, Laura Gheorghiu, a partner at law firm Gowli 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 >>

Bitcoin Fever Makes Pot Stocks Yesterdays News In Canada

Bitcoin Fever Makes Pot Stocks Yesterdays News In Canada

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin Fever Makes Pot Stocks Yesterdays News in Canada Country growing hub for crypto stocks with at least 8 listings With 20-fold gains, its a classic case of buyer beware marijuana unicorn is plunging headlong into the next big thing: cryptocurrencies. NetCents Technology Inc. have surged as much as 20-fold this year, giving retail investors a way to embrace the mania without actually having to buy bitcoins. The country counts at least eight cryptocurrency-related stocks with a market value totaling about C$2 billion ($1.6 billion), making it a burgeoning hub for bitcoin listings. And there may be more ways to invest soon: At least two Canadian firms have filed to launch what could be among the first bitcoin exchange-traded funds. Year-to-date gains for Canadian cryptocurrency stocks Canadas stock markets are no strangers to investing fads, with cobalt, lithium and marijuana stocks all bubbling higher this year. The countrys TSX Venture Exchange has been dubbed the wild west, the penny stocks among its more than 1,700 listings gyrating wildly from one day to the next. Cryptocurrency experts say the fast-evolving bitcoin sector is a classic case of buyer beware, not unlike the dot-com bubble of the late 1990s when shares would spike in value simply because a co Continue reading >>

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