Canada Is the First Country to Allow Trading BTC on Its Stock Exchanges

Published on: 13 April 2021 Last Updated on: 27 December 2024

Bitcoin has officially been introduced at the traditional stock exchange. The first country to make this significant move was Canada. Before that, the only way to buy and sell BTC was by using a digital currency stock exchange, which is still the most popular way to trade Bitcoin and other cryptocurrencies.

The Great White North officials authorized a Bitcoin fund that was immediately introduced to the stock market. This event will pave the way for many investors to access the popular cryptocurrency and try to make a profit with its help.

The Bitcoin index fund was proposed by a company called Purpose Investments.

The Toronto Stock Exchange approved the start of the fund on February 18. As announced by the spokesperson from the Ontario Securities Commission, the fund uses the acronym BTCC.

The role of the fund’s administrator belongs to a Canadian company called CIBC Mellon Global Securities Company. The sub-custodian is the Gemini Trust Company. There are no similar traded Bitcoin funds anywhere in the world. It means that Canadian stock traders could start a trend where many other stock exchanges will introduce a cryptocurrency-backed fund.

Purpose Investments issued an official press release declaring that the fund was the first in the world to be physically settled in BTC and not derivatives. It means investors will access cryptocurrencies conveniently without self-custody risks and all associated dangers that digital cryptocurrency wallets bring.

The main risk brought by digital wallets is the usage of keys. A private key is the only thing that allows you access to your cryptocurrencies. This key is like a password, but it’s irretrievable, meaning your Bitcoin storage will be lost forever if you forget the key.

For instance, if you lose your Facebook password, you can always send a request to change it. The platform, being a centralized entity, will grant you that request. Unfortunately, that option isn’t available when it comes to digital wallets, meaning a lost key is gone forever.

Many people don’t feel confident about this arrangement and believe handling your own keys brings a certain risk. That is why an exchange-traded fund seems like a better option at the moment.

In other words, being in charge of your own fortune requires having a high level of responsibility and keeping your private keys safe and secure.

Bitcoin Reaches New Heights:

When Bitcoin was introduced to the world in 2009, it was worth almost nothing. You could buy hundreds of Bitcoins for a couple of dollars. The first time that the cryptocurrency peaked was in December 2017, when the price reached almost $20K. After that, the price started going down, with many pessimists predicting the ultimate fall of BTC.

However, there was no reason to worry. After a somewhat quiet period in 2018, when the BTC rate reached as low as $3,500, a slight bump happened when the price increased to more than $10k in 2019.

Then, the Covid-19 pandemic started, and people started looking for a way to store their wealth. At that moment, Bitcoin turned out to be one of the most lucrative solutions.

Therefore, they joined a stock exchange cryptocurrenc y and started massively buying BTC. The price first reached around $30K, and it is currently being traded at about $45K. This was a reason good enough for many people to consider buying “digital gold.”

Another reason why this cryptocurrency increased in value was the fact that big companies started investing in it heavily. For example, Tesla invested approximately $1.5 billion in bitcoin, and many smaller investors followed its steps.

What About Other Cryptocurrencies?

So far, Bitcoin has been the most popular cryptocurrency, traveling the longest distance on the road to widespread adoption.

However, it’s definitely not the only crypto out there, as many other altcoins are pretenders to BTC’s trone. Some of them might even get a similar treatment by traditional stock exchanges. The most likely candidate for that is Ethereum, a cryptocurrency supporting the Ethereum platform.

Besides Ethereum, Bitcoin Cash is doing a pretty good job, as well as Tether, Binance Coin, Ripple, Litecoin, and more.

Final Thoughts:

The introduction of Bitcoin to the traditional stock exchange gives Canadian investors more room to access the cryptocurrency.

They’ll be the first ones to test how that works and whether one can make a profit by investing in the Bitcoin ETF. If all goes well, we could expect other exchanges to do the same.

All eyes are now on the Wall Street exchange, which is expected to copy the homework from the Canadian stock exchange. Will there be additional Bitcoin funds used by investors to trade on stock exchanges around the globe? At this moment, everything seems possible.

Read Also:

How To Cope Up With Debt For New Residents In Canada

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The Basics of Restaurant Equipment Financing

When opening an eatery, there is some basic restaurant equipment you'll want to invest in financially. Restaurant equipment financing, in particular, is a loan that is used to purchase business-related equipment. If you're starting a business, you will want to find a lender who will allow you to finance your new equipment to pay the total sum off in monthly installments and perhaps add a warranty that will then protect your purchase in case of emergencies. Most business owners, even those that aren't restaurant-related, have utilized the benefit of restaurant equipment financing. Purchasing equipment outright can put a substantial strain on your savings, which then, in turn, can impact your cash flow. This is one reason why it's always good to have a great credit score because, during times like these, you'll need it to get financial support, such as a loan, for equipment. Being a restaurant owner takes hard work and dedication. Here are some of the basics that you will need to know about restaurant equipment financing. How does it all work? As a customer, you've probably never wondered how much a pizza oven costs or how the pizzeria even paid for the grill when you go to a hibachi. Well, 9 times out of 10, that equipment purchase came from a lease payment. When a lender pays a monthly payment for their piece of equipment rather than the full purchase price, this is considered a lease payment. If you have a successful restaurant, then you'll have no problem with your equipment finance loan. Some businesses even make an account with relevant companies for equipment leases because they're thriving that much. The only downside is if you have bad credit, the chances of opening your dream restaurant are slim to none unless you're able to afford a down payment large enough to show the financial institution that you're financially reliable and stable. Don't forget, it takes a lot of money to open a restaurant, and you can always be in search of a borrower, who is someone you can either partner up with or payback in the future after your business begins to boom. You can consider it a business loan if you don't have good credit. When you finance your kitchen equipment, don't forget that they will perform a credit check. If you have good credit, then you're in the clear; your credit report will come back, allowing you to choose the best options you'll need for your new restaurant. However, if you have bad credit, you can try to find a lender willing to partner with you. When you have a good idea and believe that your new business may make a lot of money, your potential partner will be more apt to go into business. What type of equipment will I need? You can either hire specialists who know the industry or if you have enough experience, you should already know what you'll need. You will need to purchase some startup items for your new restaurant. You'll want to buy products such as refrigerators, freezers, pots, pans, an oven, stove, deep fryer, plates, silverware, and more. You will want to shop around a restaurant equipment finance company or two to determine the exact amount you will need to take out for a bank loan. Also, if you want to save on delivery, you can hire your own food trucks to deliver your groceries or livestock, depending on what type of restaurant you plan on opening. Qualifying for the Equipment Loan: Every lender is going to vary depending on the amount needed for your equipment loan. Since a lender will check your long-term credit history and see if you're capable of making affordable monthly payments, you can check to see if you qualify on your own by checking your own credit history online. Many companies apply for loans for restaurant equipment financing in the restaurant industry because opening businesses cost so much money. The leasing company will look at your business plan, and if they decide to move forward, you will then need to sign a lease agreement for your startup business. They will also charge an interest rate, and most of the time, there will be a section in your lease contract noting the interest rate that is decided upon. Research the Best Financing Options When it comes to securing the right loan, you shouldn’t just settle for the first option that comes your way. Researching the best financing options for your restaurant equipment is essential. Lenders will vary, so take the time to compare interest rates, repayment terms, and any hidden fees that might sneak into your contract. Some lenders specialize in helping startups and offer more flexible terms, while others cater to restaurants with much established credit. Ask around! Networking with other business owners can give you insider information on the best lenders in your area. Remember, signing on the dotted line locks you into a long-term commitment, so make sure it’s one you’re comfortable with. Boost Your Credit Before Applying If your credit score isn’t quite where you want it to be, don’t panic. You can take steps to improve your credit before applying for restaurant equipment financing. Start by paying off any existing debt and ensure you pay every bill towards a better score. Also, check your credit report for errors and dispute them if needed. Raising your credit score may take some time. However, doing so will open the door for better loans with lower interest rates. Therefore, saving you money in the long run. Improving your financial health now can set your restaurant up for future success. Take Advantage of Tax Deductions One aspect many new business owners overlook is the potential tax deductions available for restaurant equipment. The IRS allows businesses to deduct the cost of major equipment purchases like ovens, refrigerators, and other kitchen appliances. By writing off these expenses, you can significantly lower your tax liability at the end of the year. Consult with a tax professional to ensure you’re fully utilizing the deductions. These deductions can provide a much-needed financial boost, especially in the early stages of your business, keeping more money in your pocket when you need it most. Plan for the Unexpected While no one wants to see that their restaurant is not thriving, it’s always a smart move to plan for the unexpected. Therefore, read the fine print on your equipment leases and loans to understand what happens if business slows down or, in the worst case, you must close. What happens then, if your business is your loan collateral? Some lenders offer equipment return policies or flexible options for resale. Knowing your options in advance will prepare you to handle any bumps in the road. Having a backup plan doesn’t mean you’re expecting failure! No! It simply means protecting your investment and planning for a sustainable business future. Read Also: How Restaurant Space Landlords Can Be Successful Online Ordering Systems Setting the Trend for Restaurants 6 Tips to Maximize Refrigerator Use in Your Restaurant

Bezwaar WOZ Waarde Aantekenen Via Bezwaarmaker.nl

What Types of Tax Does the Netherlands Have? Similar to other nations, Netherland is no stranger to Taxes. Different types of taxes also apply as is one liable for things like taxes on income, local taxes, taxes on assets and even wealth tax. A few of the different types of taxes Netherland residents pay are: Municipal Taxes (Real-Estate Tax) Income Tax Road Tax (if you own a car) Waste-Collection Tax Water Tax Boating Tax Parking Tax Dog Tax But it’s not all as bad as it looks, the government taxes you only if you are able to pay these taxes. So, it depends on aspects like if you have a job, the level of your income, and only if you fall under the category of being able to afford to pay the tax, then the Dutch Tax Office debits a certain amount every month. If you file your tax returns (belastingaangifte) at the end of every tax year, you may get some tax back too. For more information, you can visit their website. What is a WOZ Evaluation? WOZ or ‘Immovable Property Tax Act’ is a type of valuation that the municipality does on its resident’s behalf, usually on real-estate/property if you are a homeowner, or if you are renting out an office for instance. This value is reassessed every year and you are sent a notification of the amount to pay. Depending on the municipality, you either have to go to their office to pay it in person or via direct debit. Other residential categories that pay this tax are social housing, owners of a house boat that may be used to conduct professional services like running an office, are all liable for this real-estate tax. On top of that the same owners of the boats also pay what’s called a liggeld, which is like a penalty for occupying an area of water that belongs to the authorities, in this case the municipality themselves. If you own a boat for leisure purposes, you pay a boat tax shown by the vignette that needs to be displayed on your boat. With all these WOZ and additional taxes adding up, it is no wonder some residents are not happy with the evaluations that are sent to them on a year on year basis as due to human error sometimes the total amount can be wrong. But what can you do about this? Can a WOZ Decision be objected? The short answer to this is – yes, you can object the WOZ value sent to you. You can either do it yourself directly with the municipality, or seek out the services of professionals who can bezwaar woz for you. You would need to explain why you are objecting to the decision. Every resident has the right to this service, and information is also provided on a leaflet that is sent from the authorities to you with your evaluation. Items that they can assist you with are: Reimbursing housing costs of up to Euro 270 Saving you a significant amount on property and real-estate tax payments (up to 30%) Saving you a significant amount on multiple properties and real-estate tax payments (up to Euro 730) With the WOZ value objection services – you can request an evaluation report from them, detailing how they got to the numbers. If your house has not been valued correctly, you can submit this objection to the government body within 6 weeks of the original decision, there after the authorities will give their response and any change in decision by the end of the calendar month in which it was submitted initially https://www.amsterdam.nl/en/municipal-taxes/property-valuation-woz/ Hiring a professional to do this part for you can save you a lot of time and hassles, as they have years of experience handling cases like these, sometimes even going to court with it and have legal knowledge that can assist in the decisions put forth by the municipality office. The bezwaar maker can help you make both a formal informal objection, depending on the circumstances – they would be the best people to decide this for you. Read Also: Establishing Your Online Tone of Voice

How To Safely Apply For Payday Loans Online From Direct Lenders?

In a fast-paced world where financial emergencies can arise unexpectedly, many individuals consider payday loans. The advent of the internet has simplified the process, allowing potential borrowers to apply for payday loans online. Here, kicks the need for direct lenders. However, navigating this terrain requires caution to ensure both the safety and the appropriateness of the financial solution. This article aims to guide you through the process of applying for direct lender online loans in a safe and informed manner. Understanding Payday Loans Before diving into the application process, it's crucial to understand what payday loans are. These loans are typically characterized by their brief duration and relatively high-interest rates, with the repayment usually scheduled for the borrower's upcoming payday. They frequently serve as a financial solution for unforeseen expenses or a means to manage finances until the next salary is received. Who Are Direct Lenders? In the financial ecology, a direct lender is any bank or financial institution that finances and approves mortgage-based loans. With their inclusion, there is no need for a middleman, which eventually speeds up the process. Furthermore, a direct lender is compensated through multiple charges and fees. They are usually different from a mortgage broker because the latter is a financial expert who brings a lender and a borrower together. Like lenders, they do not utilize their personal funds for advancing mortgage loans. Choosing Direct Lenders When it comes to online payday loans, there are two main types of lenders: direct lenders and third-party lenders. Direct lenders manage the loan process from start to finish, while third-party lenders act as intermediaries. Opting for direct lender online loans offers more transparency and fewer additional fees. Here are some steps to do so: 1. Researching The Lender The first step in the safe application for a payday loan is thorough research. It's important to verify that the lender is legitimate and reputable. You can do this by checking for online reviews, looking for any filed complaints against the lender, and ensuring they have a valid license to operate in the borrower's state. 2. Understanding The Terms Before applying, it's vital to understand the terms of the loan fully. This includes the interest rate, fees, repayment terms, and any fines for late or missed payments. Reading the fine print can prevent unpleasant surprises later on. 3. Direct Lenders' Application Process The process for online payday loans is typically straightforward. Borrowers must be competent enough to provide personal and financial information. For example, proof of income, employment details, and bank account information. Ensuring that the lender's website is secure and uses encryption to protect personal information is key. 4. Assessing Affordability Before taking out a payday loan, evaluating whether it is affordable is crucial. This means considering if the borrower can repay the loan on time without causing financial strain. It's advisable to look at the budget and weigh if the loan is truly necessary. Drawbacks Of Hiring Direct Lenders It is true that direct lending decreases the dependency on a financial entity or bank. But, it comes with its own set of risks and challenges. Given below are a few disadvantages of working with a direct lender. Before you hire someone, make sure to go through these properly, assess the risks, and start working towards them efficiently: A. The Risks Involved While payday loans can be a convenient short-term solution, they come with risks. The increasing charges, as well as interest rates, can create a cycle of debt if one does not tackle them with caution. Understanding these risks is fundamental to making an informed decision. B. Risk Of Application Denial Another con of working with a direct lender is your application’s approval. They might have their own loan terms and understanding of the same. Hence, if there is any error in your application that doesn’t make sense to them, chances are high that your loan will get denied. As a result, you will come back to the exact same place from where you started- the loan application! C. Privacy and Security When applying for payday loans online, protecting personal information is paramount. This means ensuring the lender's website is secure and not providing personal information on public or unsecured networks. Conclusion Applying for payday loans online from direct lenders can be a straightforward process, but it requires careful consideration and research. Understanding the terms, assessing affordability, and ensuring the security of personal information are all crucial steps. While payday loans can provide immediate financial relief, they are not a long-term financial solution and should be used judiciously. Being informed and cautious can help navigate the process safely and responsibly. Read Also: Finding the Best Mortgage Lenders to Buy Your Dream House Why Are Lenders Moving Towards Automated Mortgage Processing? Private Money Lenders – Here Is Why This Is A Great Alternative For Your New Business

Canada Is the First Country to Allow Trading BTC on Its Stock Exchanges

Bitcoin Reaches New Heights:

What About Other Cryptocurrencies?

Final Thoughts:

Read Also:

11 Tips To Save Money For Financial Trouble And Emergencies

How To Cope Up With Debt For New Residents In Canada

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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The Basics of Restaurant Equipment Financing

Bezwaar WOZ Waarde Aantekenen Via Bezwaarmaker.nl

How To Safely Apply For Payday Loans Online From Direct Lenders?

Canada Is the First Country to Allow Trading BTC on Its Stock Exchanges

Bitcoin Reaches New Heights:

What About Other Cryptocurrencies?

Final Thoughts:

Read Also:

Share this Article

11 Tips To Save Money For Financial Trouble And Emergencies

How To Cope Up With Debt For New Residents In Canada

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related