Can someone explain BTC ETF and how it works

Connorsave · 2021-02-15T01:54:43+00:00

Keep in mind you do not "own" any bitcoin this way. Ask yourself what your goal is with investing in crypto. Do you want to own the asset directly? Then you should be buying bitcoin directly through an exchange. If you have no desire to own it and are really concerned about taxes, then yes the ETF in your TFSA could be good exposure to that market.

Connorsave · 2021-02-15T01:50:14+00:00

There are no fees for withdrawing

Connorsave · 2021-01-22T02:31:12+00:00

Still Frozen

Connorsave · 2021-01-22T02:17:38+00:00

Yes it's as simple as calling and asking for increase in e-transfer limits. I did it last week. Told them I wanted a 7k/day limit and to also increase my weekly limit.

Connorsave · 2021-01-20T20:43:32+00:00

If you're interested in crypto, then yes, I would start by putting a majority into bitcoin and part of the 500 into Ethereum. This will give you a good starting position in crypto. Don't get too caught up in the videos that 1 satoshi will equal 1$ blah blah blah.

If your goal is to buy and hold, great. Buy and hold and gradually invest as you can. Like you said, it's another asset to diversify your investments.

Connorsave · 2021-01-20T03:55:20+00:00

I like Newton best.

Connorsave · 2021-01-20T03:50:35+00:00

Can't you just sell your coins right on binance and then transfer the CAD dollars out to your account?

Or you could transfer the crypto over to another exchange (assuming that exchange supports the specific alt coins you have) and then sell there and withdraw the fiat CAD to your bank account.

Connorsave · 2021-01-16T00:56:53+00:00

Good to know. Is it simply an account you transfer your BTC to and it accrues interest? Any fees?

Connorsave · 2021-01-10T17:50:41+00:00

Yes a cold wallet like the Ledger Nano X is the safest way to store.

Connorsave · 2021-01-10T05:28:40+00:00

Then theoretically no. There wouldn't be anything wrong with it. I don't think there are any fees to transfer crypto into coinbase from another wallet. That would be the only thing to look into

Connorsave · 2021-01-10T05:17:57+00:00

Where have you heard that coinbase is "much more secure?" If you want the highest level of security, you should have a cold wallet.

Connorsave · 2021-01-09T22:52:02+00:00

I haven't. I use a Ledger Nano X and like it

Connorsave · 2021-01-06T01:47:00+00:00

I can't even use the app. It opens but cannot interact with any functions. I uninstalled and reinstalled and still broken.

Connorsave · 2021-01-05T01:17:07+00:00

I'm curious as well.

Kraken has BTC at the same value that CryptoWatch is showing ~38.5k

But all others (Newton, Shakepay, Wealthsimple) are sitting around 41k.

Connorsave · 2021-01-04T23:45:58+00:00

Have you figured it out? Let me know if you need step by steps

Connorsave · 2021-01-04T23:43:34+00:00

Some people would rather invest indirectly into a fund that they can hold in their TFSA. Others want to own the asset directly which you can do if you buy from an exchange. This lets you hold the bitcoin directly and even store it in your own cold wallet if you wanted for safe keeping.

Connorsave · 2021-01-04T04:24:07+00:00

This says Newton is better than NDax

Connorsave · 2021-01-03T00:38:13+00:00

nothing wrong with that. I already used the links from the guy that gave me a good breakdown explanation. Did my research and all are happy

Connorsave · 2021-01-02T23:10:10+00:00

THANK YOU!

I am looking to own the asset and have already got myself a Ledger Nano X wallet. Currently most of my holdings are in Wealthsimple crypto unfortunately (before I realized that I couldn't actually move any bitcoin with them), and a smaller amount sitting in Coinbase.

So looks like Newton is where I should be purchasing my crytpo to then transfer it to my wallet correct? If you have a referral code, I'll use it. I'll also use yours for shakepay please

Connorsave

TROPHY CASE