KDramaLegendaryStarlight
Fri Mar 29 2024
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8 answers
1784
What is the easiest way to buy crypto in Canada?
I'm really interested in getting started with cryptocurrencies, but I'm not sure where to begin. What's the simplest and most straightforward method for purchasing crypto in Canada? I've heard about exchanges and wallets, but it all seems a bit overwhelming. Can you recommend a reliable platform or service that's easy to use for beginners? Also, are there any specific steps I should follow to ensure my transactions are secure and compliant with local regulations? Thank you for your help!
Carlo
Fri Mar 29 2024
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5 answers
1005
Why not to use Wealthsimple for crypto?
I've heard a lot about Wealthsimple and how it's revolutionizing the investing world, but why shouldn't I use it for crypto? After all, it's convenient, user-friendly, and seems to have a solid reputation. What are the downsides of using Wealthsimple for crypto trading that I should be aware of? Are there any specific risks or limitations that make it unsuitable for crypto investors? And if so, what are the better alternatives for managing my crypto assets?
LucyStone
Fri Mar 29 2024
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5 answers
1100
Is it safer to keep crypto on exchange or wallet?
As a novice in the field of cryptocurrency, I'm often faced with the dilemma of choosing where to keep my crypto assets. Some recommend storing them on exchanges, citing convenience and ease of trading. Others argue that wallets provide a safer option, as they offer more control over private keys and reduce the risk of hacks. I'm torn between these two options. While I appreciate the convenience of having my crypto assets on an exchange, I'm also concerned about the security implications. On the other hand, wallets provide a higher level of security, but they also come with their own set of challenges, such as managing private keys and ensuring backups are secure. Could you please provide some insights into this matter? What are the pros and cons of storing crypto on exchanges versus wallets? And, ultimately, which option would you recommend for someone like me who is looking to prioritize both convenience and security?
Arianna
Fri Mar 29 2024
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5 answers
707
What happens to my crypto if Binance shuts down?
If Binance shuts down, what will happen to my crypto assets?" This is a question that many crypto investors are concerned about. Binance is currently one of the largest and most popular cryptocurrency exchanges in the world, with millions of users and billions of dollars worth of transactions taking place on its platform every day. However, like any other company, Binance is also facing various risks and challenges, including potential shutdowns due to regulatory issues, security breaches, or other reasons. If Binance were to shut down, it would undoubtedly have a significant impact on its users' crypto assets. Depending on the specific situation, users may lose access to their crypto assets and be unable to withdraw or trade them. Additionally, if Binance were to go bankrupt or liquidate, there is a risk that users' crypto assets may be frozen or lost altogether. Therefore, it is important for crypto investors to take measures to protect their assets in case of a Binance shutdown. One option is to store crypto assets in a secure wallet that is not affiliated with Binance, such as a hardware wallet or a non-custodial wallet. Additionally, investors should also consider diversifying their crypto holdings across multiple exchanges and wallets to reduce the risk of asset loss in the event of a shutdown.
IncheonBeautyBloomingRadiance
Fri Mar 29 2024
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6 answers
1446
How do I convert crypto to cash in Canada?
I am relatively new to the world of cryptocurrency, but I've accumulated a decent amount of crypto assets over the past year. Now, I'm considering converting some of these cryptocurrencies into cash. Could you please advise me on the best way to do this in Canada? I've heard about a few options like selling on exchanges or using peer-to-peer platforms, but I'm not sure which one would be most suitable for me. Could you also tell me about any taxes or fees I might need to pay during the conversion process? Thank you for your help.
