Cryptocurrency Q&A

Michele Sat Mar 30 2024 | 6 answers 1139

Good day, I'm quite interested in the realm of cryptocurrencies and their integration into traditional financial systems. I'm curious, do Canadian banks acknowledge the existence and value of cryptocurrencies such as Bitcoin or Ethereum? If so, are there any specific policies or procedures they have implemented to accommodate these digital assets? Also, I'd like to know if there are any plans to integrate cryptocurrencies into their daily operations in the near future. Thank you for your time.

SkylitEnchantment Sat Mar 30 2024 | 5 answers 1146

I'm considering using MoonPay for a cryptocurrency transaction, but I'm not sure if I can trust them. What's your opinion on MoonPay's reliability and security? Have you had any experience with them that I could learn from? I've heard some mixed reviews, so I'm a bit hesitant. Could you provide some insights or advice on whether I should trust MoonPay or not?

Pietro Sat Mar 30 2024 | 6 answers 1323

Hello, I am a cryptocurrency investor living in Canada. I am wondering if the government of Canada taxes cryptocurrencies? I understand that cryptocurrencies are a new and evolving asset class, so I'm not sure how the tax laws apply to them. Could you please provide some clarity on this matter? I would appreciate it if you could also explain how the taxes are calculated and any specific rules or regulations that I should be aware of. Thank you for your time and assistance.

Giuseppe Sat Mar 30 2024 | 6 answers 1479

Could you please explain the 12-month rule for capital gains tax to me? I've heard about it but am not entirely sure how it works. Does it mean that if I hold onto an asset for 12 months or more before selling it, I'll be taxed differently? And what exactly are the tax implications of this rule? I'm trying to understand how it might affect my investment strategy and tax planning. Thank you for your help.

Paolo Sat Mar 30 2024 | 5 answers 977

I'm a bit confused about the 1% rule for traders. Could you explain it to me? I've heard it mentioned a few times, but I'm not quite sure what it means or how it applies to trading cryptocurrencies or other assets. Is it a general rule that all traders should follow, or is it more specific to certain trading strategies or asset classes? Also, what are the benefits of adhering to this rule, and are there any potential downsides or risks associated with it? Thank you for your help in clarifying this for me.