Are there any? Specifically in GVRD but also curious about Toronto

I use unique email addresses for many of my accounts. Couple days ago I started getting scam emails from "Ledger" and "Exodus" claiming I need to "secure my wallets", etc. All of these targeting my Ndax email address.

No communication from Ndax, nothing on their website - I just checked. Not seeing anything here either.

About a year ago the same started happening for my Shakepay email. Same behavior - no emails from the company, nobody reaching out. Immature behavior.

Yet, these ... companies demand your biometrics for account creation. The very biometrics that, when compromised, are going to screw you over for the rest of your life.

So, Ndax, what's going on?

Hi all,

I’ve been DCAing with newton for a few years and that’s been good for smaller amounts, but I’m aware the spread isn’t the greatest and sometimes there’s a network fee when withdrawing.

I want to make a larger investment and withdraw to my cold storage, but I don’t want to lose out on a lot of money due to spread / withdrawal fees.

I was looking at NDAX, 0.2% spread (better than Newton), and a fixed ~$10 withdrawal fee. Are there better options? I’m overwhelmed looking at all the options would really appreciate everyone’s thoughts.

Thank you.

Edit - by “larger” investments I’m talking about a few thousand, as opposed to a few hundred

I'm new to Bitcoin. When I'm moving Bitcoin from an exchange would I use lightning network or should I use the standard method? Also why do I have to pay fees? Does the fee change during the day? I once tried to send some BTC and the fee was extremely high and then I did it later on at night and I only paid a dollar.

Hello! I have obtained an MSB license from FINTRAC, and I have a KYC/AML policy developed by professional compliance officers, but no bank wants to open a business account for me.

I have already been advised to file a complaint with FINTRAC about discrimination by banks, but I feel like that won’t lead anywhere. I also considered gathering other crypto business owners like myself and submitting a collective complaint to the Canadian government, as it is absurd to grant a license for a crypto-related business but not provide the ability to have a business account!

What are your thoughts? Where can I turn to, and what can I do to get a business account?

Thank you!

First it was altcoins, then it was exchanges. What's next - ETFs?

I remember when this sub used to be helpful. When I first entered the crypto space, I received help navigating Quadriga, Binance, Newton, Shakepay, NDAX. If I had any questions about anything crypto, I would always find answers here. I'm forever thankful to the ones that have helped me out.

Look at what this place have become. It's nothing more than a shill for Bull Bitcoin and Bitcoin Well. Whenever a beginner asks how to buy crypto, they are always directed there. I for one think the above vendors SUCK! There are way way way better options.

Mods think their opinions are the only ones that matter.
Altcoins = shit coins
Exchanges = casinos
They think censorship is good for us. We are not kids living in North Korea.

Why do the mods here have such a hate for ETFs?
If we are being honest, most are in it for the money. Without ETFs, the price of bitcoin would be at like $40,000.
ETFs are user friendly. Try teaching my grandma to self custody and calculate crypto taxes.
I hear excuses like - Not your keys not your coins, or what if Bitcoin forks? These things don't matter to the regular person that wants to hold the ETF.

From the tax perspective, will it trigger a deemed disposition? For example, if I lend bitcoin to my corporation/a friend (e.g. for trading) when it was $20k and get it back when it's $100k, are there any implications for me? Thanks.

Looking for a safe exchange with low spreads and fees for recurring BTC purchase. Any recommendations?

Before we move on, this post is not a FUD.

It‘s more of disclosure and making aware of the reality, and that reality is everything in life comes with risks.

It’s more about managing the risks.

One thing I’ve noticed is that people discussing about BTC ETFs like they do with any other stocks.

On the surface yes, they are pretty much like commodity stocks.

However, if you read the fine prints, this isn’t 100% correct and also if you understand how the financial regulation and policies goes when it comes to crypto assets.

Few key facts:

• BTC ETF funds have very little to no insurance for the assets
• BTC ETF funds are not under the CIPF (1 Million dollar investor protection in case of insolvency)

Again, this is not FUD but more about awareness because no one seems to be talking about it.

I myself do invest some % into the BTC ETFs but I know that in an extreme case scenario, it can end up to be zero.

This is the reason why I do both - I have my own BTC and in my tax vehicles accounts, I have BTC ETFs.

In addition, I also read the fund’s prospectus to find out how they are managing and storing it.

Lastly, if you really want to “de-risk” your portfolio, I think diversifying your portfolio is a wise move (between funds).

Please someone explain to the total noob that I am why would someone choose a closed-end fund with a management fee of 2% over an ETF with 1% management fee. I mean, in both cases you just own fractions of bitcoins... so why would you pay twice the fees? I just don't get it. I took QBTC and BTCQ from 3iQ for my exemple, both available on brokerage platforms.

Has anyone bought the Canadian IBIT ETF on Questrade? When I search for it I see IBIT.to from NEO. Is that the right ticker? I thought it would be available on the TSX as well. So I'm not sure if that's the correct one.

Seeing as BTC ETFs are getting more and more popular I thought I’d do a summary of the Fidelity Wise Origin Bitcoin Fund (FBTC) Prospectus.

I typically invest in just BTC but I think it’s interesting peeking into how these institutions are leveraging and integrating BTC into the existing financial markets (risks, regulations, pricing and more).

With anything, it’s not without risks as I am reading the Prospectus, the biggest one that stood out to me is the “No 1940 Act Protections”.

You can go read about the 1940 Act protections but its mainly to protect retail around governance, transparency, and liquidity and new funds like this for BTC are pretty much exempt from everything in there.

(See document at LEGAL STRUCTURE, Page 3)

Other than this small caveat or gotcha above I think everything about the ETF is pretty good but with anything in crypto only time will tell what happens.

Either way, all the below information is based on summary of the Prospectus.

1. Objective and Structure:
   • The Fidelity Wise Origin Bitcoin Fund (FBTC) aims to track the performance of Bitcoin based on the Fidelity Bitcoin Reference Rate (FBRR), adjusted for expenses and liabilities.
   • Investors access Bitcoin exposure without directly holding it, through traditional brokerage accounts.
   • Shares are traded on the Cboe BZX Exchange under the ticker symbol "FBTC."
   • Reference: INTRODUCTION, Pages 1-2.
2. Management and Custody:
   • The Trust is managed by FD Funds Management LLC (a Fidelity subsidiary).
   • Fidelity Digital Asset Services, LLC (FDAS) serves as the custodian, managing Bitcoin holdings in both cold (offline) and hot (online) storage.
   • Reference: MANAGEMENT OF THE TRUST, Pages 28-30.
3. Creation and Redemption:
   • Shares are created or redeemed in blocks of 25,000 shares ("Baskets") with daily adjustments to Bitcoin holdings.
   • Shareholders buy/sell through brokers and may experience premiums/discounts relative to the NAV.
   • Reference: CREATION AND REDEMPTION OF SHARES, Page 39.
4. No Derivatives:
   • The Trust does not use leverage or derivatives; it solely holds Bitcoin.
   • Reference: THE TRUST AND BITCOIN, Page 8.
5. Fees:
   • The Trust charges a 0.25% annual Sponsor Fee, covering operating expenses.
   • Reference: TRUST FEES AND EXPENSES, Page 17.

Key Risk Factors:

1. Bitcoin Volatility:
   • Bitcoin prices are highly volatile, and the ETF's value may fluctuate significantly.
   • Reference: BITCOIN MARKET RISKS, Pages 12-13.
2. Regulatory Uncertainty:
   • Lack of regulatory clarity or changes in laws could adversely impact Bitcoin and the ETF.
   • Reference: REGULATORY CONSIDERATIONS, Page 21.
3. Custody Risks:
   • Loss or destruction of private keys could result in total loss of Bitcoin holdings.
   • Reference: RISK FACTORS, Page 15.
4. Market Risks:
   • NAV deviations can occur due to trading hours, volatility, or market disruptions.
   • Reference: PRICING RISKS, Page 18.
5. Operational Risks:
   • Digital asset network risks, including forks, scaling challenges, and miner behavior, are inherent.
   • Reference: RISKS RELATED TO BITCOIN NETWORKS, Page 16.
6. No 1940 Act Protections:
   • The Trust is not registered under the Investment Company Act of 1940, which means it does not adhere to its compliance and protection standards.
   • Reference: LEGAL STRUCTURE, Page 3.

Summary of Security and Storage:

1. Custody of Bitcoin:
   • Managed by Fidelity Digital Asset Services, with the majority held in cold storage at multiple redundant sites.
   • Cold storage employs 24/7 surveillance, multi-factor authentication, and geographic redundancy.
   • Reference: CUSTODY OF BITCOIN, Pages 28-30.
2. Hot Storage:
   • A small portion of Bitcoin is held in hot wallets to facilitate transactions, with the rest in cold storage.
   • Reference: MANAGEMENT OF THE TRUST, Page 30.
3. Segregated Accounts:
   • Bitcoin is held in omnibus wallets (grouped with other clients’ Bitcoin), treated as fungible assets.
   • Reference: STORAGE AND SECURITY, Page 30.

Pricing Mechanism:

1. Index and Price Calculation:
   • Aggregated data is sourced from approved Bitcoin spot markets (e.g., Coinbase, Bitstamp, Kraken).
   • These exchanges must meet eligibility criteria like liquidity thresholds and transparency.
   • Reference: THE TRUST AND BITCOIN PRICES, Page 59.
2. Independent Third-Party Calculation:
   • Pricing is managed by Coin Metrics, Inc., which calculates the Fidelity Bitcoin Reference Rate (FBRR).
   • Reference: INDEPENDENT CALCULATION OF PRICING, Page 60.
3. Volume-Weighted Median Price (VWMP):
   • The FBRR uses a volume-weighted median to ensure pricing reflects market activity accurately.
   • Reference: FIDELITY BITCOIN REFERENCE RATE, Pages 59-60.
4. Transparency and Frequency:
   • The reference rate is updated every 15 seconds based on a rolling 60-minute interval.
   • Reference: METHODOLOGY, Page 60.

Cycle and Holdings Alignment:

1. Daily Adjustments:
   • Bitcoin holdings are adjusted daily to match the number of shares in circulation.
   • Reference: NAV CALCULATION AND DAILY ALIGNMENT, Page 39.
2. Creation/Redemption Process:
   • Shares are created or redeemed by Authorized Participants in exchange for Bitcoin or cash.
   • Reference: CREATION AND REDEMPTION OF SHARES, Pages 39-40.
3. End-of-Day NAV:
   • NAV is calculated daily at 4:00 PM EST, ensuring accurate alignment with market prices.
   • Reference: NET ASSET VALUE, Page 40.

For the “daily adjustments”, Fidelity has a “Daily holding reporting”.

Under “FBTC” on their site, you can view their daily reporting of the holding in the link “Prospectus, holdings & reports”.

How do I report a crypto scam to the authorities? Also any ways to get some money back in canada from the crypto scam?

I'm playing with a bitcoin core node and I found out that the current size of the blockchain is around 632gb as of today! My question is: are you using the "prune" option? If yes, what size? And are you still able to see all your transactions using a reduced version of the blockchain?

I'm testing Sparrow and running the bitcoin core node on a linux machine (only locally).

Thank you for attending my ted talk.

Hello- for context I am a Canadian/American, living and earning CAD in Canada. But I am also a US citizen. I want to buy and hold Bitcoin for a long time- does it make any sense to-

-earn cad from my job -exchange Cad to USD -go to a US Bitcoin exchange -buy and hold there?

Thoughts? would the taxes be less if I need to sell a large amount in 20+years. Are capital gains tax less in US? Can I even do this legally?

As a US citizen- I am taxed on my worldwide income anyway, so I’m not exactly sure how it works. Because there is some way to prevent double taxation in Canada/US, but I’m not super familiar. Maybe I won’t need to worry about this soon…. lol

About theorangePages.ca

theorangePages.ca is Canada’s online directory connecting people with local businesses that accept Bitcoin or are open to it. Whether you’re a startup, artisan, or established company, we make it easy for customers to find and support businesses that embrace cryptocurrency.

Why We Created It

We created theorangePages.ca to help Canadian businesses gain visibility, especially those who accept Bitcoin or want to start. Businesses can add themselves to the directory or share it with others who are already accepting or interested in Bitcoin, helping build a stronger crypto-friendly community.

Hi Everyone.

I’d love to hear about any experiences or guidance on this.

Has anyone thought about selling BTC in cold storage and moving the cash into RRSPs and TFSAs to purchase crypto ETFs?

BTC profits as I understand it are subject to capital gains tax. If someone held more than half but less than a full bitcoin in cold storage and made between 120-160 k a year on top of that, but the move still be lucrative?

I’m guessing that we will see more crypto ETFs in the very near future, and despite a bit of a tax hit (assuming say 60-70 k in contribution room in both RRSP and TFSA), would it be a worthy move?

Thanks for any thoughts.

I'm planning to buy a house. Some of the downpayment will come from crypto gains. Mortgage lenders will require a 90-day history of the downpayment funds.

I did use a centralized exchange for selling crypto. It's regulated. I have monthly statements with my name on it. I suppose this counts as an investment brokerage. The problem is that the crypto itself hasn't been in the exchange for the full 90 days. I have been depositing it and selling it bit by bit over the past three months.

But will the lender look so deeply? Say I have a $200,000 deposit in my bank account, then I show the monthly statements from the exchange, will that be enough? The statements just show how much money I have in the exchange. They are pretty high-level. Can the increase in the balance just be chalked up to the appreciation of the crypto? Or will the lender say, "Hey, how come you don't have $200,000 in the exchange at the start of the three months?"

If anyone has gone through something similar, I'd love to hear about your experience.

I'm 28 with a long term investment horizon. I have $160k total at the moment, 90% in xeqt and the rest in FBTC.

I'll be finishing a big contracting job and ganing an extra $25k in the next 2 weeks. I plan to purchase $10-15k more Bitcoin.

Should I lump into more FBTC or slowly buy over a few months? Or maybe put some towards some real Bitcoin?

Spend the next 96 hours checking the price to see if I bought at a good time 😄.