r/Bitcoin_Canada: Welcome to /r/Bitcoin_Canada. However, in order to unlock the ShakingSats feature in ShakePay to earn free Bitcoin, you will need to be referred as per their current terms and conditions. First Bitcoin ETF in North America is launching in Canada today Back to video While Europe boasts several “physically backed” Bitcoin exchange-traded products that effectively function just like an ETF, BTCC is the first to carry the ETF designation and the first vehicle of its kind in North America. However, in order to unlock the ShakingSats feature in ShakePay to earn free Bitcoin, you will need to be referred as per their current terms and conditions. BITC.UN is in CAD and seems to have the cheapest management fee (0.70%). Yes, crypto maximalists will tell you not your keys not your bitcoin. The only problem: it trades on the Toronto Stock Exchange. Yeah that’s the USD to qbtc, I’m not sure of the difference since they’re both on tsx/tse do I need to convert cash? The price of the ETF will always be guaranteed to be a laggard to the latest Bitcoin price movements, but … Recommended Canadian Bitcoin Services. It is certainly expensive in terms of its premium (10-20%) and management fees (1.95%); however, if you are long/bullish in Bitcoin as an alternative asset class, then perhaps it does not really matter. Bitcoin is a distributed, worldwide, decentralized digital money. What you could do is use Norbert's gambit to enjoy americans ETF while avoiding the conversion fees. A bitcoin ETF is way easier to lock down than a regular exchange with a hot wallet. The first approval was the Purpose Bitcoin ETF , which was the biggest traded ETF of any such product on its first day, trading $165 million in volume, and has grown to be worth over $540m in the two weeks since … Personally, I only buy on the Newton app since they currently have the lowest purchasing fees out of all of the available exchanges in Canada. If you're here to make a quick buck, go for it. I never actually buy from ShakePay because of their high purchasing spreads (which is approximately 1.75%) and I simply use them for the free daily accumulation of Bitcoin. I also use the ShakePay app to earn free Bitcoin on a daily basis by physically shaking my phone once a day. Bitcoin etf Canada? Anyone who uses ShakePay can attest to this and easily confirm their legitimacy. Didn’t know it existed, will check it out, thanks! Newton's average spread varies from 0.50% to 0.60% which is 2-3 times cheaper than most of the other available exchanges that are available to us as Canadians. And this speculation is 1% of my portfolio, I sold half awhile back and I plan to let the rest ride. My understanding was that Canada didn’t have any Bitcoin etfs yet, but someone mentioned btcg.un.to and qbtc.to I realize the fees associated are 1.8 ish. March 12, 2021. Sometimes you get lucky I guess. More posts from the CanadianInvestor community, Canadians Interested in investing and looking at opportunity in the market besides being a potato. Trust me, I know that sounds ridiculous, stupid, and suspicious, but ShakePay is a legitimate company based out of Montréal which is regulated by both FINTRAC and AMF while it is also legally licensed as a Money Service Business. If you are current in financial news, you would know what happened with the exchange and Canadian company named Quadriga. I have 1800 shares of qbtc and 500 of qeth. Two bitcoin exchange-traded funds (ETFs) have been approved in Canada. With an 87% market share in Canada’s nascent bitcoin ETF space, Purpose is sitting pretty. Canada ETFs - Horizons launches Bitcoin futures ETFs, including an inverse ETF. BTCG-UN.to (CI Galaxy Bitcoin Fund). And this speculation is 1% of my portfolio. Related: Reddit, Robinhood, Citadel CEOs to Testify at GameStop Hearing. Canada is certainly not waiting for its southern neighbour when it comes to the race for a Bitcoin ETF. But thanks for the info! Regulators up there have approved three Bitcoin ETFs in less than a month. Was down 15% on monday as bitcoin bled out. Bitcoin ETFs are finally here – they are Canadian. I’m using a tfsa so I’d wind up paying us taxes, and I can’t under rrsp because I’m taking the money out in a year and a half. If you want to deep dive into trading cryptocurrencies, buying things with bitcoin, getting into Decentralized finance, holding a digital wallet with 24 seed phrase, then ya, buy bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Posted by. Disclaimer: I am super long Bitcoin. But the thing with qbtc that scares me is that over the weekend Bitcoin can plunge to 50% what it was trading at Friday at 4pm. If it doesn't have both of them, abort immediately. Bull Bitcoin (Service/App) Bylls.com (Pay your bills) Coinkite (Hardware Wallets) Non-custodial / P2P exchanges & Swap Services. 10 comments. This is no different than investing in traditional equities in a taxable account after you have maxed out your TFSA, RRSP, RESP, etc. My understanding was that Canada didn’t have any Bitcoin etfs yet, but someone mentioned btcg.un.to and qbtc.to I realize the fees associated are 1.8 ish. Share. In Canada, this is currently the cheapest method of accumulating Bitcoin and truly owning the assets by storing them "offline" in a cold storage wallet. The first one to launch, BTCC Bitcoin ETF traded $200m shares on Day One, the highest volume for any Canadian ETF and would likely rank in Top 5 all-time among US ETFs too. Canada’s Bitcoin ETF Fee War Ignites. Just keep in mind they're different business models. Deploying a small amount of money into the crypto or its ETFs doesn’t seem like a bad idea. Bought in around 10-12 usd of the former. What are your thoughts on the Bitcoin ETF? If it also has a reddit page, a Telegram channel, a Discord, an Instagram page, a YouTube channel, etc. Very helpful and informative! Pure Bitcoin play, 1.8% MER, which is pennies compared to taxes. Mers and premiums are just cost of doing business. 3. Could just buy CAD version and ask them to transfer? This is easily verifiable information and a famous story as well as a perfect example about "not your keys, not your Bitcoin". For penny stocks, please visit: r/canadapennystocks, Press J to jump to the feed. Evolve Bitcoin ETF has become the second bitcoin ETF to get approval by Canada… Relating to taxes, you can always use Peer-to-Peer exchanges like Bisq to cash-out via Interac and not declare any gains. Sounds very informative. truly own actual Bitcoin in a cold storage wallet and own shares of the QBTC fund in a TFSA). You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. For me, the biggest investment is not really the Bitcoin itself, but rather, it is in the underlying technology and innovation of the blockchain infrastructure which serves as a massive global public ledger leading to the decentralization of this digital currency as well as its invincibility and independence from overbearing governing bodies whereby the Bitcoin unit itself simply has a monetary value relative to fiat currency. Look at Bitfarms from Quebec. Press question mark to learn the rest of the keyboard shortcuts. But instead of storing bitcoins in the wallet, I was thinking to transfer to BlockFI to earn good interest (not as good as Celsius and probably many others, but it sounded “the safest” for a crypto noob like me :)). Buy it in TFSA, never worry about losing it, never pay taxes on it. Thanks for this. Honestly ETFs and funds like these will be the next wave. Tax free gains were the main part. Low-volatility ETFs. As such, you run and operate with all of the associated risks of leaving your coins on an exchange which is why I choose to own the real thing and use a cold storage wallet to take my Bitcoin off of every exchange that I use (Newton and Shakepay). Huge potential for growth, facts...it's actually undervalued compared to RIOT and MARA. In short, many investors did not truly own their Bitcoin with them since Quadriga sold "entitlements to receive crypto assets or fiat currency from Quadriga" while Quadriga held the "keys" to the real Bitcoin and investors lost around 135 million dollars CAD, but up to 250 million dollars CAD according to Wikipedia while GlobalNews published it at 220 million dollars CAD. Platinum | QC: ETH 50, BTC 40, CC 32 | TraderSubs 45. In and it's performed very well for me. I can assist you with this as well as answering any general questions, concerns, and/or issues that you may have related to buying, storing, and/or selling Bitcoin in the most safest manner possible while balancing convenience and simplicity. Just read this now and found it quite helpful (though I feel like I still have a lot to learn). I have some in it. Bitcoin is a distributed, worldwide, decentralized digital money. ... Canada leads the way. Any other educational ressources would also be nice! We are a Canadian-based subreddit dedicated to news and discussion of Bitcoin. QBTC? BITW – The Bitwise 10 Private Index Fund. BTCC currently has CA$1.2 billion (US$960 million) in assets under management, compared to $103 million for BTCX and $95 million for Evolve’s Bitcoin ETF (EBIT). As the saying goes and as you may have heard if you have done your due diligence: "not your keys, not your Bitcoin". https://bitbo.io/ is a fairly good guide on how much the premiums are for each fund out there so far. Canada’s Bitcoin ETFs. Thanks. share. The Purpose ETF was first and opened for trading on 18 February, and was the biggest traded ETF on the Toronto TSX that day with over 10 million shares changing hands. POLITICS. As long as you keep the incoming e-transfer small, you shouldn't get any worries from the CRA. Share. I just started collecting free sats with Shakepay and was looking at Newton for larger Bitcoin purchases. Pretty much include it all there. Seems to be a significant premium compared to the market price of bitcoin. Just send me a message as I am always willing to assist and educate with whatever knowledge and/or experience that I have accumulated over the years. Assets under management could surge to $1 Billion in less than a week. Canada launched the first ever Bitcoin ETF earlier this month, and quickly followed with a second one. Before you invest in anything regardless of the asset class, make sure you understand what you are putting your money towards, understand your risk tolerance, understand the proper asset allocation percentages for your risk tolerance, and formulate a clear plan of what you want to achieve. Discussion would be geared around any investment opportunities a Canadian has access to. Both funds claim to be "physical" Bitcoin ETFs, ... Canadian ETF services for CIBC Mellon, says it is working on getting more cryptocurrency services up and running in Canada. Thanks! Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Been in Crypto since 2016, but I still have a position of QBTC in my TFSA. This is exactly what I was looking for! Canada Approves First Bitcoin ETF The first Bitcoin exchange traded fund (ETF) has finally been approved in Canada. Simple. If you have been looking for ways to add Bitcoin to your investment portfolio without having to worry about cold wallets and public keys, a Bitcoin Exchange Traded Fund (ETF) may work for you. Bitcoin ETF From 3iQ and CoinShares, Canada’s 4th, Begins Trading on TSX A bitcoin exchange-traded fund (ETF) from Canadian digital asset manager 3iQ … You can’t sell your etf until Monday so your stuck with whatever on Monday. Mining is focused on the physical infrastructure needed to mine coin, and QBTC is financial experts investing in BTCN currency itself. Ease of access for most investors. This is different though, Bitfarms is a coin mining company, whereas QBTC is a fund that invests in BTCN as a currency. Rather, you own shares of the fund whereas those organizations truly own the asset since they have the "keys". Here are a few points which may or may not be helpful to you from my perspective regarding buying this alternative asset class: If you want tax free capital gains, you can buy QBTC.U (USD) or QBTC.TO (CAD) in your TFSA. I know absolutely nothing about crypto m(just started researching tonight lol) so it’s really appreciated. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Reddit. Just realize that with the first option of truly owning the asset (Bitcoin), it is subject to capital appreciation tax whenever you trigger a taxable event such as selling, buying, and/or converting crypto-to-crypto. Reddit. I don’t know how but I seemed to have timed it perfectly. In Canada, this is currently the cheapest method of accumulating Bitcoin and truly owning the assets by storing them "offline" in a cold storage wallet.
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