I use my debit visa but they also support credit cards. That's going to be subject to what your bank will allow though as most Canadian credit cards don't allow you to buy crypto with it.
What crypto do you like
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I know the big 3 have all blocked it on their credit cards. But visa debits still worked last time I used coinbase.
I'm a big fan of shakepay for btc or eth, I can just e-transfer to them to fund it. And the free btc by shaking your phone every day is a cool little perk. Their spread is reasonable between 1-1.5% and they cover the transfer fees.
From what I am reading and seeing cryto will eventually kill cash exchanges, it will be the end of cash currency. Cash is king for me for buying and selling stuff as it leaves no paper trail for certain transactions.
The problem with cash is that if you hold it, you're losing money. And by cash, I'm also lumping in chequing accounts and the majority of saving accounts offered by the banks since none of them even come close to tracking to inflation. I don't think cash will simply go away during our lifetime but I do think we will see the day where crypto (likely btc) will be the first layer of money that all currencies are based on.
It's possible that bitcoin replaces cash one day but not until it gets so massive that it's no longer so volatile.
it might not be cryto but it will be digital currency for sure ... once all us old ppl die off...lol. I keep up with technology cause I find it interesting. I dabbled a lot in the stock market when I was younger I gained a lot more than I lost and beat the average rate of return cause I paid close attention ... and my brother was CFO for Met life and was in the market for a living and had a lot of good info to share. When investing... diversification is the key. If you look at the 2 4 unit apartment buildings I bought when interest rates were really low in 1995 along with house and rental unit prices, the cap rate on my first unit was 10%, ROE was over 6000$ AIBIT on 30000$ equity investment. Positive tax flow per month was about 400$ in 1995 ( rents could have been higher, but kept them a little lower to get good long term tenants with little damage). The second building I bought in 2017, right beside my other one, I also make positive cash flow on that one and had no equity investment as the equity portion was financed with a mortgage LOC on my permanent residence ( I write the off interest on this loan against rental income). Now that I am retired all my self directed RRSP are in safe investments and I withdraw what I need when I need it. It would be great to be younger and invest in these times when markets have been a little more stable and bullish. Crypto is to volatile for me but I bet some ppl have made a killing on it.
Glad I am not the only one that sees it that way.
So much wrong with investing with your bank.
I mean I guess its better than nothing but not much. Once I started learning about markets, charts and fees. I asked some questions to my "advisor" fuck doesnt know much at all. Not like I was the wolf of wall street but this clown had no clue. That's when I took control of my money.
I had the same experience, advisor ... made recommendations, charged major % trading fees, and the stocks recommended lost money. Fired his ass, opened up self directed rrsp's, 9.95$ a trade when i switched to self directed,, and started educationing myself and talked to my brother who's recommendations where about 75% spot on. @3ml ... I am with you on this one.
I know too many people in the financial sector and know the training they receive. Most at the bank are given the manual to study for their licenses and put at a desk with their set portfolios to pick from. Their actual investment knowledge is limited at best. I don't consider myself even close to an expertand I would say I know more than a lot of them. But they're setup in a way that they don't really have to know. Do the KYC, match the results to the portfolio options, present the client the 3 options the system says to present.
Self directed at your old age can be risky
I certainly have a portion in self directed and the ability to pick a specific company or sector can be what leads to the biggest gains. It's also significantly riskier because most of us doing direct investing don't have a properly balanced portfolio to mitigate risk. But that's half the fun of it
I always invested in indexed funds and spread my money over the various types of funds. Seemed to work well for me and lowered my risk. My biggest gain i made was when I totally got out of equities just before the market crashed in 2008 There were so many bail outs and everything just tanked .... tsx lost 35% of it's value. I went back into stocks in April of 2009 when the markets started to rebound after all the bailouts. i was lucky and luck allowed me to retire early as it put about 30% gain on my portfolio and now where the market is at the highest ever my wife and I will be comfortable until the grim reaper comes along.
XRP is on FIRE today! Damn! Almost 30% gain in 24hrs.
The whole crypto market is hot in the past 2 days which is great for investors.
I've been on the fence here lately on my position. I'm still very bullish on BTC and ETH. Where I'm on the fence is how to hold these in my portfolio. I've got the majority in cold storage and don't plan on touching those. But I'm thinking moving forward I'll be picking up more BTCC.B and QETH.UN and strengthening my position through my TFSA.
I'm happy the proposal to change capital gains to 100% taxable was rejected. But now that it's been tabled once, I feel it very likely that it'll be brought forward again and that can be a nightmare for our crypto holdings.
Roadhouse
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Buddy it’s been on fire the past week. Our retirement is getting closer day by day. It’s awesome and only warming up. XDC and PAC are my other bags. Really looking forward to Flare going live soon also and getting my FLR tokens from the airdrop.
What cold storage are you using? I’ve got the Ledger nano x. The ngrave looks pretty cool though also.
Nano X as well.
My only real dive into alt-coins have been a couple of the WSB pump events. I should put a few hundo into a couple of them and hope for those magical 1000x returns.
While people criticize BTC for being an extremely risky investment, I view it as fairly low-medium risk for long term holding. When predictions say it will one day hit over 1 million per btc, I truly believe it will get there. Alt-Coins on the other hand, could make someone rich, or could go to zero. I'd say it were a coin-flip but the odds are better it goes to zero than it makes a millionaire. It's all about betting on the right one, and I'm not smart enough to make those picks on my own LOL
I have a strong desire to transfer some BTC over to binance and get some shitcoins but i keep spending all my money on BTC ETH and XMR. I really want some IOTA to put on a trezor and lock it in a box for 10 years.
3 Canadian ethereum ETF's launched this morning.
ETHX.B
ETHR
ETHH.B
This gives you the ability to hold ethereum in your TFSA and avoid capital gain taxes.
IMO ETHX.B is the way to go right now. MER capped at 0.4% and the highest amount of eth/share out of the 3.
ETHX.B
ETHR
ETHH.B
This gives you the ability to hold ethereum in your TFSA and avoid capital gain taxes.
IMO ETHX.B is the way to go right now. MER capped at 0.4% and the highest amount of eth/share out of the 3.
I looked into these and ended up going with the ETHX.B. figured why not since i dont own any ethereum. Theres also a ethx.u but i dont think id touch that one.
Just realized i started this thread in feb. Bought monero in march and ive doubled my money on monero in 2 months. Crazy
ETHX.U is in USD so you add currency volatility into the mix plus have to do norbert's gambit or pay the currency conversion spread.... not tempting to me.