Canada bitcoin

[frankcolt]

Anyone form Canada figure out bitcoin yet? Which is the best bitcoin ewallet - and how to get money out or wire to bank account?

Thanks in advance

 

[frankcolt]

from Canada - been doing page changes for 2 day's can't spell anymore

 

[falseadoom]

Yes .. Sign up for blockchain.info to send and receive and goldmoney.com to withdraw to bank account. Money is withdrawn as ACH or wire usually within a couple days at RBC for me.

 

[frankcolt]

Thanks - signed with both - hopefully goes well - might ask u for more basic instructions

 

[TheGooner]

Yes .. Sign up for blockchain.info to send and receive and goldmoney.com to withdraw to bank account. Money is withdrawn as ACH or wire usually within a couple days at RBC for me.

Interesting approach ... appreciate the insight as to how it works.

What are the total costs doing it that way?
BTC -> GoldMoney ?
Gold -> CAD wire ?

What's the overall percentage cost (roughly)?

 

[AussieDave]

I have no idea how this works... wish I could say I'm a newbie, but not even at the level, yet. If there's a Totally-Clueless-Level, then that's me

WCD explained it to me a while back, but nothing really sunk in.
However, I think we might see this form of payment increase over the next few years. Hence I need to figure it out.

 

[TheGooner]

I agree that we are going to see this mechanism more and more for online purchases, it probably will become as "normal" as e-wallets like neteller and skrill were / are ...

If you are working in the online world - then I think that BTC will be here to stay ... especially in an industry that has issues with banks accepting payments.

 

[falseadoom]

basically when you sign up for blockchain.info you will be able to receive payments from casinos. You will click on a receive button to pull up a code you supply to whomever you are wishing to get money from. They use that code and transfer funds. Pretty simple actually. As long as money is still in this wallet you can spend it places. example: I bought airline tickets just by scanning code to send. Was instant. Blockchain has no connection to your bank.. So that is where the goldmoney come in.. There you verify your bank account so you can transfer funds. Once all set up and you have already received money in blockchain you use the cryptocurrency which has code to transfer from blockchain.. Then in goldmoney you request transfer to bank.

Both charge a small fee but thinking it was like .03% wasn't a lot. Now you pick when you want to move money so you can pick when it goes higher.
I requested transfer to bank yesterday and it was in bank within 24 hours.


Downfall is you have to give code to casino each month.
Stock prices drop and so does you money value

Good points is it is easier to get paid from some programs.
You can use it in quite a few places and some countries you can do atm withdraws from blockchain.
You can get prepaid cards that accept bitcoin and fund them with blockchain.. (which you wouldn't have to have goldmoney to get money out) I haven't bothered doing the prepaid cards yet.

 

[AussieDave]

Well I took the plunge and signed up with blockchain, and now have an account.

Neteller accepts BTC now.
So could I use blockchain, to send money to Neteller?

Being a Gold VIP, I can withdraw up to US$3K per day with the NT ATM. Which makes it really convenient, least for me.
Plus I get a % of transfer/cost fees back from NT each month. So that's an added advantage.

 

[ultra100]

Well I took the plunge and signed up with blockchain, and now have an account.

Neteller accepts BTC now.
So could I use blockchain, to send money to Neteller?

Being a Gold VIP, I can withdraw up to US$3K per day with the NT ATM. Which makes it really convenient, least for me.
Plus I get a % of transfer/cost fees back from NT each month. So that's an added advantage.

Yes, you can deposit to Neteller using Blockchain. However, unfortunately you can not withdraw it immediately via NT card. Here is the notification from Neteller:

"
Changes to Deposits Using Bitcoin

• Bitcoin deposits can be used immediately for transfers to NETELLER merchants or transfers to other members. Bitcoin deposits cannot be used for purchases or withdrawals using your Net+ card. ..."

 

[Frank]

There are even bitcoin atm's around now, though the fee's are horrendus, usually 5-8% with 20%+ in the USA

 

[AussieDave]

Yes, you can deposit to Neteller using Blockchain. However, unfortunately you can not withdraw it immediately via NT card. Here is the notification from Neteller:

"
Changes to Deposits Using Bitcoin

• Bitcoin deposits can be used immediately for transfers to NETELLER merchants or transfers to other members. Bitcoin deposits cannot be used for purchases or withdrawals using your Net+ card. ..."

Thanks for that. I guess, worse case scenario. I deposit at a casino play a little and withdrawal. But I suppose Neteller would cotton on to that ploy, pretty quickly. So instead, I'll contact my VIP accounts manager and see if, because of my level, if I get any consideration.

Or I just go the bank-wire method as explained above. Only problem is, I tend to get slogged with insane bank fees. A typical wire from say the UK. I get hit $25 (their end), another $25 or so at the intimeditory bank, then another $25 when it hits my bank.

If the the currency is not converted to AU$ to begin with, I'm then lose about 7%, when it's converted this end. 3% being the FX fee and the 4% being that Australian Banks under value to $ by 4%. Hence if it's $0.76 then the Bank's conversion rate is set to $0.72.

It's why I prefer to use Neteller, as I get compensated for fees.

 

[falseadoom]

I actually do a electronic funds transfer but I do have wire set up as well. Cheaper EFT or ACH

 

[edgarf76]

Yes .. Sign up for blockchain.info to send and receive and goldmoney.com to withdraw to bank account. Money is withdrawn as ACH or wire usually within a couple days at RBC for me.

seems a bit risky, don't you think? Is BTC licensed and regulated in Canada?

 

[falseadoom]

there is different atm cards you can get which your able to load with bitcoin such as https://cryptopay.me/bitcoin-debit-card
I just haven't tried this yet

 

[falseadoom]

Risky? You worried about money getting lost?

 

[falseadoom]

goldmoney is "Federally Chartered Corporation Headquarted in Canada"

 

[edgarf76]

Risky? You worried about money getting lost?

there was just a big theft on a Chinese Bitcoin Exchange

 

[frankcolt]

OK falseadoom, I got my bitcoin now how do I transfer to goldmoney.com?
Thanks in advance