Bitcoin for Canada Discussion

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That's fine. It might be great and it's good for Canadians to get more good options. But seriously, it's getting too much like advertising. You're coming across like part of the Reddit group trying to ramp this up. You don't need to be so forceful anyway, I bet every regular bitcoin using poster from CA who reads this has a look at it.

And not sure why you seem so keen to bash Quadriga. After reading the saga they appear to be an honest company who was attacked by traditional banking and is now coming out the other side. And Canadian users can sure use the competition in the market.

Perhaps I could word things better but I'm trying to dissuade people from using Quadriga and by doing so saving themselves plenty of stress and hassle.

Yes at one time they were as solid as could be but that is not the case right now, they are having problems paying out, both bitcoin and fiat withdrawals are slow, very slow (4 days to withdraw BTC reported many times). There are a few other exchanges for Canadians and also the service I keep mentioning and Canadians would be better off using them instead of Quadriga.

There are TWO bitcoin exchanges that Canadians should avoid currently, QuadrigaCX and ezBTC.
ezBTC is a straight up ponzi scam.

Quadriga is still accepting deposits but not processing payouts.

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Troubled Crypto Exchange QuadrigaCX Goes Offline for ‘Maintenance’

https://www.coindesk.com/troubled-crypto-exchange-quadrigacx-is-currently-offline

[Jayvegas420]

[danwinkler]

they been offline for 2days. i really feel sorry for ppl who have large amount there. they even delete posts on reddit.

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they been offline for 2days. i really feel sorry for ppl who have large amount there. they even delete posts on reddit.

reddit? full of shills, can't get good information there, pal.

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reddit? full of shills, can't get good information there, pal.

This is sarcasm, for those that didn't get it.

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they been offline for 2days. i really feel sorry for ppl who have large amount there. they even delete posts on reddit.

It's over. They are in creditor protection.

[GradyFuson]

I got ducked out of a few dimes on this, damnit.

So what options are there for Canadians to sell bitcoins and withdraw to their bank accounts? (Not wanting to use local bitcoins, and shakespay fees are too high)

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I got ducked out of a few dimes on this, damnit.

So what options are there for Canadians to sell bitcoins and withdraw to their bank accounts? (Not wanting to use local bitcoins, and shakespay fees are too high)

Here are the exchanges I believe are the most trustworthy as of today, based on my personal experience and what I've read from others.

I'm not basing my opinion on buy/sell rates or spreads but trustworthiness.

1) Canadian Bitcoins - based in Ottawa Ontario they have been around the longest, with a physical address and telephone number where you can speak to a real person. They buy bitcoin and can deposit directly to your Canadian bank account or will courier you cash to your verified home address, they also offer buying/selling for cash in person at the Ottawa office.

2) Kraken - US Based (San Francisco) but they can deposit by EFT to your Canadian bank account for $10 and it takes less than 48 hours. They are one of the bigger players and are assumed to be safe. In 2016 Kraken acquired former Canadian exchange Cavirtex and transferred accts to their system.

3) Shakepay - Based in Montreal they are the new favourite of many Canadian bitcoiners. Fast deposits and withdrawals via Interac e transfer in less than 35 minutes - 24 hours a day 7 days a week. My personal fave as I deal in amounts less than $1k most of the time.

4) Bitbuy.ca - Based in Toronto they are newer on the scene but have a dedicated following. They offer fast deposit and withdrawal options and getting set up is quick.

5) Einstein exchange - Based in Vancouver they are a smaller company with low trade volume etc but no major complaints.

[GradyFuson]

Thanks

[Krashman]

$180 million in Bitcoin on the deceased QuadrigaCX owner's laptop and nobody has the password!

https://www.vancouverislandfreedaily.com/news/b-c-cryptocurrency-exchange-gets-court-orders-amid-hunt-for-180m-in-assets/

[Jayvegas420]

Nice little 6.88% 24 hr gain!

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Nice little 6.88% 24 hr gain!

You'll get hooked if you hold it!

How did it work out with Shakepay?

[GradyFuson]

I have a Kraken withdrawal pending to my Bank account in Canada. It's been 5 days (only 3 business days).... Anyone else done this before?

I'll update when I get it.

[GradyFuson]

If anyone is interested, I have received it the transfer from Kraken. I think it was 4 business days, Kraken charged me a 0.25% fee and there was no fee charged by the bank. I think anything over 10 dimes would be a different fee, but would be silly to send that much at one time IMO.

[crazyivan24]

I lost 2.5 LTC in https://quadrigacx.com/

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I have a Kraken withdrawal pending to my Bank account in Canada. It's been 5 days (only 3 business days).... Anyone else done this before?

I'll update when I get it.

If anyone is interested, I have received it the transfer from Kraken. I think it was 4 business days, Kraken charged me a 0.25% fee and there was no fee charged by the bank. I think anything over 10 dimes would be a different fee, but would be silly to send that much at one time IMO.

Thanks for posting the info.

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Canadian exchanges and crypto businesses thst are fully registered with FINTRAC:

CoinSquare
BitBuy
Bitcoiniacs
Coinberry
Coincorp
Coinfield (Central Crypto Exchange Corp)
Netcoins
Netcents
Hibit Blockchain Inc.
Shakepay
OKCoin
NDAX

https://coiniq.com/canadian-exchanges-registered-with-fintrac/

[GradyFuson]

Another possibility is coincanada.ca where you can buy gift cards with BTC. I used a skip the dishes voucher the other night, worked great.
Also could get aircanada, Amazon and other useful "gift cards"
There's a $10 fee per purchase but buy $5k worth of Amazon and $2k worth of aircanada will only cost $10 in BTC.
The exchange rate seems to hide about a 1% fee but I'll take that to avoid my bank account.

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Canadian crypto exchanges comparison spreadsheet

https://tinyurl.com/y3ftmgpj

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FBI/RCMP Now Investigating Quadriga Scandal


"The Royal Canadian Mounted Police have been looking into the implosion of Quadriga since Cotten’s death was announced. Now, as the confusion only deepens, the US Federal Bureau of Investigation is also investigating Quadriga."

"The plot is thickening as the fiasco unravels. There are now dozens of conspiracy theories and the Canadian press are frantically digging into the backgrounds of Cotten’s wife – who allegedly has changed her name three times and has bought property worth millions of dollars in the last two years – and also the co-founder of Quadriga, who allegedly has been convicted of identity theft and fraud."

https://www.asiatimes.com/2019/03/article/fbi-now-investigating-quadriga-scandal/

[Krashman]

I finally tried Shakepay yesterday for the first time, to exchange BTC to CAD and withdraw via Interac.

Worked perfectly and I received the Interac email in about 30 minutes.

I calculated the Forex cost around 2%

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I finally tried Shakepay yesterday for the first time, to exchange BTC to CAD and withdraw via Interac.

Worked perfectly and I received the Instadebit email in about 30 minutes.

I calculated the Forex cost around 2%

You said instadebit, but you likely meant interac e-transfer.

Anyway, nice to hear your experience with shakepay was positive.

[Krashman]

You said instadebit, but you likely meant interac e-transfer.

Anyway, nice to hear your experience with shakepay was positive.

Corrected, thanks.

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Anyone else using shakepay regularly?

What has your experience been like? Good/bad?

[byronbb]

kraken is great for canadians

[TopNotch]

Anyone else using shakepay regularly?

What has your experience been like? Good/bad?

Very solid. Great way to convert into fiat - when you "cash out" by interac etransfer it takes minutes to get to you. Reasonable exchange fees.

[Jimmer Fredette]

I apologize as i know this type of question has been asked before, but i'm just a bit confused on something.

I was at TheGreek, was transferred over to BetCris when that closed, and now one of my only ways of withdrawing(they dont have Instadebit which i would normally use) is Bitcoin.

If i create a Shakepay account, it sounds like i would withdraw BitCoin from Betcris to Shakepay, convert to CAD, and e-transfer myself the funds(sounds easy but fees are possibly a bit high?)

Is Kraken the same scenario? Withdraw Bitcoin to a Kraken account, convert to CAD, and then EFT to my bank account? But fees slightly less?.

I'm just confused if i need a wallet inbetween these transfers to the exchanges, if someone is able to confirm for me. I saw some messages about having my own wallet and wanted to confirm if i needed a middle man for either of these exchanges.

Thanks for your help.

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If i create a Shakepay account, it sounds like i would withdraw BitCoin from Betcris to Shakepay, convert to CAD, and e-transfer myself the funds(sounds easy but fees are possibly a bit high?)

this, exactly. Shakepay will provide a permanent (re-usable) bitcoin address and the app will notify you when funds are received.

When I request an e-transfer from shakepay its usually completed in less than 5 minutes and cash is credited to my bank acct as i use "autodeposit" at my bank.

[Jimmer Fredette]

this, exactly. Shakepay will provide a permanent (re-usable) bitcoin address and the app will notify you when funds are received.

When I request an e-transfer from shakepay its usually completed in less than 5 minutes and cash is credited to my bank acct as i use "autodeposit" at my bank.

Thanks for the quick reply. Would it be the same scenario with Kraken? Or is a wallet required?

[Jimmer Fredette]

Just wanting to post an update.

Used Shakepay as a withdrawal method for the first time. Very painless account setup. Very easy to navigate for someone with very little knowledge of the crypto world in general.

I’ve since done 2 withdrawals. Both were fairly quick. The 1st one cost me about 2% in fees. The 2nd I actually made a few dollars in trading just simply due to the volatility of the current markets.

Overall it’s very easy to use and from my limited experience I’m quite happy.

[Vyasports]

Just wanting to post an update.

Used Shakepay as a withdrawal method for the first time. Very painless account setup. Very easy to navigate for someone with very little knowledge of the crypto world in general.

I’ve since done 2 withdrawals. Both were fairly quick. The 1st one cost me about 2% in fees. The 2nd I actually made a few dollars in trading just simply due to the volatility of the current markets.

Overall it’s very easy to use and from my limited experience I’m quite happy.

thanks for the update...will give it a try

[Matthew8]

I too am very happy with shakepay. Strong customer service as well!

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So recently Coinbase stopped accepting Canadian issued Veza Debbit cards. This has basically made Coinbase useless.
I tried to buy some btc yesterday on Coinbase using an RBC Veza debbit card and my transaction was declined and my card removed from my profile with the message that they no longer support this method.

Ok, so we still have Shakepay, which appears to be the most popular way to buy bitcoin. Its definitely the fastest. Fund via Interac E-Transfer and withdraw the same way.

https://shakepay.co/

We also have Newton Express. You can buy BTC instantly with Flexepin vouchers on Newton Express. Only a name and phone number are required. Flexepin vouchers can be purchased in person at Esso and Canadian Tire stations as well as some convenience stores. I have used a kredit card to purchase Flexepin vouchers at my local Esso after filling up my vehicle but some places insist only cash or debbit.

https://express.newton.co/

You can also fund your Kraken account with fiat by visiting a Canada Post location
Canada Post In-Person Cash (and Debit) CAD deposits. The Canada Post In-Person Payment (IPP) method allows Canadian clients to quickly fund their Kraken accounts from their nearest Canada Post locations.

IMPORTANT: This method is for deposits only. You will not be able to withdraw funds through Canada Post.

https://support.kraken.com/hc/en-us/articles/360027825511-Canada-Post-In-Person-Cash-and-Debit-CAD-deposits

[CAPPER33]

Just started using bitcoin this week and everything seemed ok till today . I am using shakepay and blockchain. Shakepay has been extremely fast with withdrawls back to my bank throu etrans.. about 30 min. Then today my first big issue with them . I sent them $1000 converted to bitcoin and initiated a send to my blockchain account at 9am and i get an email saying its been sent to blockchain . 10am still no funds so i get ahold of shakepay support and they state that its slower than usual with transfers but it should go out shortly. 4 hours later same thing and this time im told its a bug on shakepays end and its being worked on . now its 13 hours later and 10pm still nothing . feel like ive been given the run around and im so mad. Not sure what to think if its really an issue or something shady. Ive already had a few thousand in purchases in bitcoin and a few withdrawls back to my bank for around 5k with no ussues so i hope its a legit situation. should i be worried guys? Should i look for a new place to use ?