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Kiến Thức Buy Crypto & Bitcoin in Canada | The NXT Coin

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Kiến Thức  Buy Crypto & Bitcoin in Canada | The NXT Coin
Kiến Thức Buy Crypto & Bitcoin in Canada | The NXT Coin

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Canada that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Canada that allow you to buy litecoin and other crypto assets for good exchange rates.

The History of Bitcoin in Canada

The rate at which Bitcoin is gaining popularity can be seen in the increased number of people who have started investing in this digital currency. According to research, the future of Bitcoin and other digital currencies is bright, and they are probably here to stay. The price of Bitcoin in Canada for the last few months has been averaging around C$45,000, with highs up to C$75,000.

The history of Bitcoin in Canada can be viewed in comparison with the former currencies of Canada. Canada has not legalized Bitcoins or other cryptocurrencies in the country. The bank of Canada had recently released a report that compares the time when they handled private bank notes and governments issued notes. The features of these two were seen to portray some similarity with the way cryptocurrencies operate today.

There are numerous places in Canada that allow people to acquire Bitcoins. Canada has over 140 Bitcoin ATMs and 6,000 Flexipin retailers. The ATMS offer people an opportunity to exchange Bitcoin into Canadian Dollars.

Royal Canadian Mint introduced the MintChip in 2012, which was a digital currency. The currency didn’t survive as a result of the demands that arose from it as regards to the expenses that the merchant shops incurred. It was quite unfortunate that the currency didn’t win the hearts of people due to its expensive hardware. By 2016, the MinChip was bought by a private company that in turn transformed it into a smartphone app.

In 2013, a Vancouver, Waves a coffee house opened a Bitcoin ATM which was the world’s first. The government of Canada officially met with its representatives the following year as well the Canadian Committee on Banking, Trade, and Commerce.

Still, many people are yet to adopt Bitcoin as well as other digital currencies, and there is a high possibility that there will come a time when both national currencies and digital currencies will coexist.

Canada has been noted to be a Bitcoin-friendly nation. With the increase in the value of Bitcoin in Canada, several institutions have taken up Bitcoin as their payment mode for goods and services on online platforms. Toronto and Vancouver are believed to be the home of Bitcoins in Canada. The two have recorded a high rate of digital currency operations in Canada. In 2014, it was reported that workers based in Toronto preferred their salaries to be paid in Bitcoins rather than the local currency.

The bank of Canada has attempted to adopt a blockchain technology within their banking system, but this was put on hold in March 2017. This was because the bank needed to come up with solutions that could make the process more efficient. The value of Bitcoin in Canada has come a long way in the country’s economy, and it would not be surprising if it will be adopted in the near future.

Currently, the price of 1 Bitcoin is more than $7,000. This is has proven it to be a profitable investment for people. As a result, more and more people are taking up Bitcoin technology in Canada.

Stores Accepting Bitcoin in Canada

More and more Canadian Businesses are accepting Bitcoin. There are a few Canadian businesses that have adopted the use of Bitcoin.

Among the retailers is Quebec Bed-and-Breakfast. The operator David Mancini expects the payment method to particularly appeal to foreign tourists visiting the Baie-Saint-Paul community.

Vancouver saw its first Bitcoin ATM launch in a coffee shop found in downtown Vancouver last fall, and this was closely followed by Ottawa and Toronto. The ATM allows consumers to exchange their Canadian money for digital currency at the current exchange rate.

Canada’s major online retailer thenxtcoin.com has also started accepting Bitcoin as a payment method for the sale of contact lenses.

CEO and founder of Roger Hardy also revealed that his company allows payments in 20 currencies and Bitcoin is an addition.

The Bitcoin Alliance of Canada makes pitches to entrepreneurs as well as organizations about the digital currency. Di lorio, the executive director, has a positive view of Bitcoin. He states that the price of this digital currency will continue to rise as more and more businesses start accepting it.

Bitcoin Mining in Canada

China is viewed to be a country that is prolific at making anything including Bitcoin. It is the home to some of the largest cryptocurrency mining companies, such as the BTCC, BW, and F2Pool. This doesn’t stop others from diving into cryptocurrency mining. Canada just like other countries has taken advantage of the available space to get into Bitcoin mining.

Canada has taken up the north border for cryptocurrency mining. Quebec has over time been noted for its inexpensive power. For crypto mining to be effective, power is needed and a lot of it. It is due to this that many companies have focused on building their companies in Quebec. This is a renewable energy source in the form of hydropower which is vital to sustaining mining.

The First Public Digital Currency Company Globally

Canadian mining Company Hive made history by going public on Toronto Venture stock last year September. They launched assets into the public market to expose them to the digital currency space. They partnered with Genesis Mining which is one of the largest Cryptocurrency miners in the world and saw an increase in stock price by more than 220 percent.

The stock steadily rose from $1 to more than $6 between October and December. This triggered some interest in new companies that had their focus on Cryptocurrency mining in Canada. It was after this that Crypto Global and Hut 8 went public.

The Government’s View of Bitcoin in Canada

This is more of a legal perspective based on Cryptocurrency and the Canadian Tax Landscape.

There is no federal or provincial legislation that explicitly addresses cryptocurrencies and block chains. This raises the question of what Canadian laws apply to cryptocurrencies.

CRA-Canadian Revenue Agency declared that cryptocurrencies are taxable as commodities rather than currencies. This means that any transactions that involve cryptocurrencies will be viewed as if they are barter transactions.

On CRA’s website, the agency maintains that any good bought using digital currency must, for tax purposes, be included in the seller’s income tax. CRA has also continued to affirm that barter transactions can allow for the procurement of capital property for the purpose of Income Tax Act Part C.

Any profits gained from the sales of cryptocurrencies are characterized as capital gains. This is because only a part of that profit is taxable and at the applicable tax rate. When it comes to salary payments using the digital currencies, the amount payable will be included in the employee’s income following subsection 5(1) of the income Tax-Act.

You’ve probably heard of thenxtcoin.com if you’re a Canada-based crypto enthusiast. The company has managed to become a well-known name in the Canadian industry in a short amount of time, featuring a full service desktop and mobile app to buy and sell coins on.

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coinberry apps

Overview of Coinberry

While most crypto exchanges are only around 5 years old at this point, Coinberry is still relatively new on the market, even for those standards. The company was founded by Evan Kuhn and Andrei Poliakov less than three years ago. Poliakov has served as the company’s president since its inception.

The company got its start as a provider of Bitcoin ATMs in Canada. From the get-go, as Khun said to Todd Shapiro on his podcast in 2018, their main mission was to make cryptocurrencies more available to Canadian citizens. They started with their local area first.

Originally, the company only set up ATMs around Ontario, but they expanded in a matter of months. In December of 2017, just a short few months after they got their start, the company partnered with Ghost Technologies Inc and started installing ATMs outside of Ontario.

From there, their mission grew

Coinberry Assets

Seeing how the company is still pretty new, it shouldn’t come as a huge surprise that they don’t have great crypto-asset coverage At the momen. As of writing, they only support buying and selling of:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Stellar (XLM)
  • Bitcoin Cash (BCH)

This may be a bit underwhelming for long-time crypto users that are accustomed to more than a 5-coin offering. The team is planning to introduce more currencies down the line, but for now, these are all they have.

Coinberry Fees

One of the best aspects of Coinberry is possibly fantastic fees, to say the least. The company markets itself as a zero-fee service and wouldn’t you know it, they actually stay true to their promises. These are the thenxtcoin.com deposit fees:

  • Initial deposit fee 0%

  • Withdrawal fee 0%

  • Trading fee 0.5%

coinberry coins

thenxtcoin.com Support

You’d be glad to hear that unlike most crypto exchanges online, Coinberry does have an active hotline. They do a bulk of their customer service over the phone, and if you have an emergency on your hand, this is the best and the quickest way to reach out to them.

Of course, they also have email support, so you can shoot them a question any time and they’ll answer within 24 hours. Tier site has a Frequently Asked Questions section, as well as a company blog, so if you have some basic questions about their services, you can possibly find them there.

thenxtcoin.com Safety

Overall, we can safely say that thenxtcoin.com is a well-secured website. Some crypto users would argue that’s it a bit too secure since it requires all of their users to identify themselves before they register an account.

Here are a few security measures the company officials have in place to protect their users:

id verification

1. ID Verification

Let’s start with the most talked-about security feature Coinberry has.

Every user is required to verify their identity before creating an account. This can be accomplished by scanning and uploading one of your several personal documents. This can be a huge turn off for some, so keep it in mind.

fintrac logo

2. Regulations

The company is registered as an MSB or a Money Service Business. That means, the company complies with the FINTRAC security standards.

There are only two Bitcoin exchanges that comply with these rules, and Coinberry is one of them. They’ve also completed an accounting audit successfully last year.

security

3. Security Standards

Since Coinberry is trying to function as a proper money service, they have higher security standards than most Bitcoin exchanges not only in Canada but in the whole of North America.

They have both a customer and a company fund for fiat currencies, plus they provide cold storage and 2-factor authentication as well.

thenxtcoin.com Pros and Cons

Since many people like to cut the chase and only see the positive and negative aspects of a crypto exchange, here we are. We’ve compiled a shortlist of Coinberry pros and cons you can use it when comparing it to other crypto exchanges.

thenxtcoin.com Pros

  • The exchange is a great option for people from Canada since they accept CAD
  • Delivery of bitcoins is instant once initial verification is complete
  • The security is always at a high level, due to identification requirements
  • Verification can be done instantly through Trans Union or Equifax
  • every user also get access to instant withdrawals for fiat currencies, which have no fees

thenxtcoin.com Cons

  • At the moment, it’s only available to users located in Canada
  • Although it will become broader over time, the coin offering is still limited
  • The platform is pretty basic and experienced crypto investors might find it limited

Final Thoughts on thenxtcoin.com

Seeing how crypto exchanges are often seen as illegal market places filled with online criminals, it’s quite refreshing to see a company that’s trying to be 100% legit and transparent about their business. Coinberry is a serious company that runs a good, beginner-friendly operation.

You should definitely try their platform out if you’re from Canada. On the other hand, you should possibly look for something else if you’re living outside of the Great White North.

Overview of thenxtcoin.com

The company was originally founded seven years ago by Adam Goldman and Ademar Gonzalez. They are one of the oldest crypto exchanges in Canada, so you know you can trust them. For almost five years, they worked with only a small number of users, but then, they decided to expand their operations.

bitbuy pro trading view

In 2018, after the company receives additional funding from a PEF, Ademar left the board. He was soon replaced by Chris Ragobeer, who worked as a mobile developer and an IT project manager. It’s also worth mentioning that the company is a part of the First Ledger Corp.

As a company, Bitbuy is fully transparent about their operations and actions. So much so that they’ve provided a link to a report about their operations, conducted by Cipher Blade. The aforementioned company provides blockchain forensics services and analyzes crypto-related business and here are their biggest findings of Bitbuy:

bitbuy proof of reserve

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    Fiat Currency Holdings: Bank reports were recovered, checked, and verified by international banks. The statements were all correctly filled in the Bitbuy system.

  • Cryptocurrency Holdings: The number of assets and coin holders matched the one Bitbuy reported. Customer assets match those in Bitbuy’s system.

  • Staff and Operators: Every worker in the company had their personal records checked. The company discovered that none of them had any criminal activities on their records.

thenxtcoin.com Assets

bitbuy assets

Like many other medium-size exchanges in the industry, thenxtcoin.com has a small offering of five main cryptocurrencies. These currencies are Bitcoin, Litecoin, Ripple, Ethereum, and Bitcoin Cash. They will probably expand their offering in the near future, but for now, these five coins are it.

The small offering gives you an insight into what’s thenxtcoin.com best for: it’s basically a gateway that allows Canadian citizens to turn their dollars into Bitcoin, Ethereum, etc. You can always connect your Bitbuy account with another exchange and use it to buy other coins.

thenxtcoin.com Fees

Although Bitbuy fees are slightly above the market average, the company makes up for with lower withdrawal and deposit fees.

bitbuy deposit and withdrawal fees

When it’s all added up, the fees are quite average. Let’s take a look at the standard thenxtcoin.com fees:

  • 0.75% (buying rate)

  • 0.50% (selling rate)

bitbuy trading fees

Furthermore, if you’re looking to combine express trade with e-transfer, the exchange rate is 2.5%. Again, this is not that above average, but some Canadian competitors charge less than 2% for the exact transaction. You can check their fees in more detail by visiting this page here.

thenxtcoin.com Support

When it comes to customer support, Bitbuy operatives are surprisingly efficient. While many larger and well-known names in the crypto industry will have you waiting for hours and hours for a response to a simple inquiry, Bitbuy answers almost immediately. This shows that they value their customers and want to take care of them to the best of their abilities.

There’s a support hotline, which allows you to talk a Bitbuy representative in a matter of minutes. People who have something to ask urgently should use this channel. You also have email support available. They answer emails in less than 12 hours and you can expect their answer on the same day. You can check Reddit to see just how many people are satisfied with their experience.

bitbuy support

thenxtcoin.com Safety

There’s no point in using an exchange if you’re not sure whether or not it can keep your investment safe. Hackers and cyber thieves are possibly the biggest enemies of the crypto industry. Just last year, cybercriminals stole more than $40 million in Bitcoin from Binance users.

They will keep a majority of your coins in cold storage, which will keep your assets in a locked environment, away from all of those cybercriminals. The company also performs data backups on a daily basis, which makes your assets safe in case of a DDoS attack.

bitbuy security features

thenxtcoin.com Pros and Cons

Seeing how most people like to have all of the necessary information in one place, we’ve made a list of both positive and negative aspects of Bitbuy. Just take a look at these lists and compare the exchange to others if you’re not sure which platform to pick.

thenxtcoin.com Pros

  • The company has a seamless reputation and is ran by reputable people

  • One of the oldest crypto platforms in Canada and even North America

  • Possibly the most transparent crypto exchange we have working today

  • It’s extremely safe for use, even when compared to large Bitcoin exchanges

  • Data backups are done every day so your assets are safe even if the site crashes

  • They have some of the best customer support agents in the business

thenxtcoin.com Cons

  • It’s still a small platform designed mainly for first-time crypto users

  • Although they are not below average, their fees leave something to be desired

  • The platform doesn’t support any credit cards, which makes withdrawals difficult

bit buy features

Final Thoughts on thenxtcoin.com

In such a competitive market, can such a modest company attract the interest of your average crypto user? In our opinion, it can. The company does what it advertises: gives you a simple way of exchanging your coins into Canadian dollars, and vice versa.

The organization is caring for their clients, their communication is top-notch, plus their verification process is extremely quick. Bitbuy is also safe and while their fees aren’t anything to write about, they still fall in line with the rest of the market.

If you’re a Canadian crypto user, you should try thenxtcoin.com out.

We hope that you found our review interesting and informative. What’s the best crypto exchange in your opinion? If you have any additional questions about thenxtcoin.com leave a comment in the section below.

Danh mục: Tin Tức Coin
Nguồn: https://thenxtcoin.com

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