Canadian Bitcoin advice

Anybody got a solution for this. Also curious. Main issue is taking the money out of the .

Use quadriga to withdraw to your bank account. You can also buy BTC but they don't accept credit cards, so for me at least Coinbase is more comfortable in that respect.

>>2016312
thank you
so should I just buy bitcoins using coinbase and then transfer to other wallets to sell. I would like to be able to use a debit card to buy atleast.

quadrigacx

>>2016324
Yea that's what I'm doing. It's easy to get started buying with a credit card but I think to pay with debit you need to go through more verification.

>>2016341
Sounds good, thanks for helping me. I am using a VISA credit card so it is better then the debit I guess

I think I have a grasp on how the crypto currency exchanges work like Poloniex or YObit. Should I use these exchanges or are there better ones?

>>2016345
Poloniex and Bittrex. Use the others sparingly.

>>2016345
>>2016289
Leaf here. I'm new at this as well but here is what I do

MyBTC will let you use Interac Online to buy btc quickly, basically you can do it if your loonies are being kept in any major Canadian bank (I did it with my RBC account). They don't hold the btc for you, you just tell them what wallet to send the btc to during the purchase. They also don't require photo verification, but they will call you the first time you buy to verify.

I don't know if their fee is higher than coinbase, but they have I think a $500 daily limit instead of the $100 weekly limit coinbase has.

I am currently in the Bitfinex exchange, but I'm looking to get verified with Poloinex too and yobit looks like the one to use if you want lots of cheap shit coins.

oh I do have one more question.
How does it work for taxes on these transactions, like making money off of the increased value of bitcoin and then just adding it to my account? So when I file my taxes what justifies that income from the investment

>>2016441
Look up capital gains tax

Basically, you keep 50% straight off the top. The remaining 50% is taxed according to whatever tax bracket you're in.

So if you profit $1000, you'd be taxed on $500. If your tax rate were 40%, that means you'd be paying $200 tax and keep $800 total.

>>2016441

What you described is appropriately filed under capital gains taxes. It's treated under law the exact same as if you had bought stocks or gold and then sold afterwards for a profit.

If you were to be getting paid in bitcoin, then the rules for barter transactions would apply.

Just wrote a paper on the subject :^).

>>2016487
I wanna see that paper.

>>2016485
>>2016487
>>2016557
thank you for answering my questions.
So how do they track bitcoin transactions? I know they can tell if you want to take the money out like I was describing (putting it in my bank account) and then I pay capital gains tax. But I am just wondering if the government has any record of Bitcoin-crypto coin transactions?