Tips for Canadians to begin Investing in Ethereum and Bitcoin.
If you interested in investing in Ethereum or bitcoin one of the most painful processes is funding your exchange. I have tried accounts on many of the major exchanges (Kraken, QuadrigaCX, Poloniexetc) and one thing I have learned is that time is money and funding can take what feels like an eternity when you're watching the crypto currencies climb.
The major issues I faced with funding were fees and time. To mitigate both I found the best combination was:
- Sign up with QuadrigaCX as funding via Bank Wire was faster than other exchanges and they offer other instant or next day funding options. QuadrigaCX is a quality Canadian exchange and you can find out more and signup here with my referral code: https://www.quadrigacx.com/?ref=ra6t4tnx5o493vzohepis02j
With QuadrigaCX you have more options to fund via bank wire (FREE NO FEES) with a turnaround time of 2-3 days. You can also fund very quickly using INTERAC Online (1.5% fee) direct bank transfers (1% fee). The fees may sound like a lot but now I don't even hesitate as I've realized the way the crypto currency is moving a bank wire can end up costing me far more than 1.5% in missed growth in my portfolio.
- Choosing a bank that allows for convenient and fast funding. I had issues with my PC Financial account as well as my BMO account. I have colleagues who have had a hard time with TD as well. Bank wires can take up to 3 days in my experience (with BMO) and the wire fees are steep. My BMO account rejected INTERAC payments which was a huge let down. Untimely I settled on Tangerine no fee banking.
Tangerine is a great choice in combination with QuadrigaCX as they allow for INTERAC Online payments for a small fee (1.5%) and next day Direct Bank Transfers for 1%. Like I said time is money and these fees are small when they enable you to get into your investment days ahead. Tangerine has a great web interface and a really nice Android app (i haven't seen iOS yet but I'm sure it's good too).
As an added bonus Tangerine will deposit $50 into your new account once you fund it to give you more crypto purchasing power by creating your Tangerine account using this referral code 49542809S1
Happy investing.
Super post
Great article
Perfectly!
Very good blog. Good to see I'm not the only one who thinks like this. Not sure if I believe in the current crypto investment climate but I do believe in the blockchain. I was researching a way to find more info about the current cryptocoins on the market. An interesting website I found: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. See: https://www.coincheckup.com/coins/Bitcoin#analysis For the Bitcoin Investment research report.
Hey,
it's been a year I'm using tangerine, I reached several times to their customer service to know if there are any way to make a bank wire to another financial institution in which I don't hold an account under my name, their answer always have been "No we'don't offer this service".
Only options I have on their website to move money are interac/email transfer, paying bills and transfer to/from accounts already linked that I own.
So I'm not sure of what you mean by "next day Direct Bank Transfers for 1%". Where do you find this option ?
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