Bitcoin infrastructure and usage is growing in Canada

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Bitcoin has seen tremendous growth in the US, Europe and China, and it seems that this momentum is carrying over into other countries, especially Canada. Just two days ago, the Winklevoss twins announced that Gemini will be open to Canadian citizens who wish to trade in bitcoin and ether, the digital token of the Ethereum blockchain. Canada is already home to several digital currency exchanges such as QuadrigaCX and Taurus, and US-based exchange Kraken - which also serves Canadian clients - has been seeing a steady growth of volume on their XBT/CAD trading pair.



Kraken also has one of the most liquid CAD-denominated Bitcoin order books of any digital currency exchange.



It's not just the exchanges that are expanding into Canada. In March, Canadian Bitcoin ATM maker BitAccess launched its Flexepin bitcoin voucher system, which allows Canadians to purchase the digital currency at over 6,000 retail outlets across the country. And in February, Toronto's Decentral FinTech Hub launched its own Bitcoin Card voucher system that could be purchased by Ontario residents at multiple retail locations.

LocalBitcoins, a popular person-to-person digital currency trading venue, is also showing a steady rise in trading volume coming out of Canada. According to data provided by CoinDance, for most of 2016, weekly bitcoin trading volume is hoovering around 200,000 CAD. In 2015, weekly volume averaged around 100,000 CAD. It is quite clear that interest and usage of the digital currency in Canada is on the rise!



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27 comments :

  1. same in my country bitcoin has growth too, I had heard about the kraken but have never tried trading there, i'm prefer trading altcoin
    S1uXtjJEF5dDWZQSSZkLddEszXWXaXvJ5U

    ReplyDelete
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    1. I have used Kraken and it is a really well-run and professional exchange. Their direct deposit option is nice as you don't have to pay for wire transfers when using a Canadian/US/European bank account.

      I sent you 15 Grc: dbc9305eb2b304a1f6d6ab11eea4ab151418006e8902670a65a53e02edc413c5

      Delete
  2. Great to see how Bitcoin become more common in Canada, sadly very far from me.
    But in europe in Switzerland in the city Zug you can already pay administration fees in Bitcoins

    GRC address:
    S6GkRc8rJpkhKQts3cNGTZjtQHZSwiK2D6

    ReplyDelete
    Replies
    1. I'm sure many other cities will begin accepting digital currencies in the coming years; I don't think they will have any choice!

      I sent you 10 Grc: b4a84b026029b75ba5c1b72b8a535c003ebe5fe2ca628759a21e747f89a2d9a0

      Delete
  3. It's great that bitcoin are getting more prevalence. However, what i really want to see is the acceptance of other crypto currencies by the merchant, not just the exchanges. if you have other currency, you still have to go through bitcoin to use them.

    RxqiSWWknTjoMwUmSwakHV779GKYbvEYpq

    ReplyDelete
    Replies
    1. This process will take some time, altcoins need fiat-based trading pairs, otherwise everyone has to go through bitcoin first. 10 GRC sent!

      Delete
  4. Well I hope the value of bitcoins stabilizes, it has gone on quite the wild ride this past year. Not quite as wild as the other alt-coins, but hopefully with wider adoption we'd see a norm.

    S4Ze6kpmK1cFV1kNLUk2fxyy6xWiDMFy1A

    ReplyDelete
  5. Bitcoin was a very good idea, and people who started mine it early made serious cash. From my point of view, it will loose it's value in the next few years because of the increasing difficulty.

    People will stop mining, and almost all coins will belong to a several people which will determine the end of this currency.

    Fortunately there are a few really promising altcoins like Gridcoin which creates REAL LIFE value instead of burning your hardware.

    S27M5Y2EB3JATAzdSKo1wgnLsDyPzTbstN

    ReplyDelete
  6. I'm wondering if the price of bitcoin will keep the same, and if it doesn't, when it will crash. Practically every stock or coin that went up a lot in value eventually crashed. I'm afraid people will sell bitcoins, the price will lower, people will start selling more, etc...
    Let's see what the future brings!

    My address is (if you'd be so kind) 1968vusMrCszVjV4BHqhQy428D6qQXh6ap

    ReplyDelete
    Replies
    1. Bitcoin went down to $200, from $1200 in 2013, now it's trading at $570. So, your nightmare scenario already happened before. Your GRC address is incomplete, double check it to make sure it's correct. It has to start with a letter!

      Delete
  7. Hi
    Nice article.Finished with real plausere.The figures will makes every crypto lover so happy.Hence,nothing has achieved yet!Tough fight are still ahead of us. Looks like central bankers got a game plan to diminish crypto environment. And we can beat them if able remain calm in case of basic fundaments!The halvig issue not over yet! In fact I still believe the issue will be solve mutually. And it will lands opportunity for small scale altcoin to thrive!

    Thanks for resources input!


    Here is my Gridcoin address:
    S8F5MGe2HxPEduuFRdLaW8fyVcMSHhi96H


    ReplyDelete
  8. The popularity of crypto currency is on the rise in all countries. As companies that has been established for a while starts to expand to other places that hasn't had any good way to trade before. Localbitcoins is always a good place to find sellers, but it can be hard for the actual exchange to be done if the transaction technology are lacking. Many people feel awkward to conduct trade with unknown people.

    Something else that I think has made common people, that hasn't been interested in Bitcoin before, or other crypto currency for that matter, is the fact that the latest year the price has been less fluctuating. The price has been stable and ricing slowly (if you don't count the last months rise).

    Crypto Currency is here to stay, is a fact. Now the market has to find good ways for people to be able to use the one currency they wish. The easiest solution will probably be various payment gateways. But not all will be happy about that. Bitcoin will probably be the one big currency for a long time and be the one that will be adopted for payments directly in stores and shops.

    I'm looking on the future for crypto currency with fascination and hope for a bright outcome for it.

    GRC: SDn51aqchKNHuuqm3GNKQRf95eLYxUQBQL

    ReplyDelete
  9. Good article. This is interesting. Why do you think Canadians are going to bitcoin? I am not aware of the state of Canada's economy or their currnecy but we should look for correllations. Now I'm also curious about the state of mining in Canada and Canadian Crypto startups, as well as if they will also embrace coins like ethereum.
    A lot of questions really and it will be interesting to track this growth in Canada.

    Here is my GRC Address:
    SF3JTvzWs9nyroWv2JRaWMfLvM5vyRuKSz

    Good brief and conclusive.Cheers!

    ReplyDelete
  10. GRC sent to all the commenters, great discussion guys!

    Nurev: The Canadian real-estate markets in Vancouver and Toronto are in a huge bubble and many of those investors might be looking to diversify into bitcoin and other digital assets.

    Yugo: P2P trades are awkward and very dangerous, you don't know who you are meeting. Decentralized exchanges like Bitsquare are probably the future of digital currency trading.

    ReplyDelete
  11. articles of interest, the world is growing and all things have become easier ... for example in the presence of bitcoin and other altcoin, everyone can transact easily

    SKHcn2bF2QqnpcCnTZEuSJ1K2f8ThjyYNP

    ReplyDelete
  12. good article, in my country (indonesia) bitcoin is growing too, the price of btc is rising every week.
    Ryxvzo7mSUmPnaD9JpyzHETVvCdDcLB5v7

    ReplyDelete
  13. Great to see crypto on the rise! This is the future and it's sad that not more people are seeing that

    SAVwuf2Ep1SGqHF2D39SPqgBweuLf4FrtN

    ReplyDelete
  14. Cool thing to see that also big payment providers like stripe are offering BTC payments now...

    RziwbR4DAy8Dgok8hCti6dz6KqFN7cgDgz

    ReplyDelete
  15. I think that Cryptocurrency is only in its early days I am sure it will take off, and be just as common as cash in 3-5 years.

    I been using Boinc with world community grid for 10 years, but just now realist that I can mind Gridcoins at the same time  Happy days!

    Thanks for bringing out locale Cryptocurrency news!


    Here is my Gridcoin address:
    S5inov1YTEq1uopDnkqVKvqEWsk5k4PjiA

    ReplyDelete
  16. So, if this trend continues in the steady fashion we sure are just going to use bitcoin for every use. Imagine using the physical coin which has the bitcoin voucher on it instead of any country seal and you can use it as other currency. But it will be that much awesome. Hope these things come in our eastern countries as well. Then it wwould be supeeerrrrrr.

    Gaddress: SKbsqMvw4TtrB1LBzMpv1ccdegn5c7wihJ

    ReplyDelete
  17. The people have starting to massively invest in these currency this is a reality that governments must accept.
    The central banks work in ruling the classic FIAT currency has proved to be a failure. The P2P approach of a cryptocurrency can assure economic stability since the trust of the people decides their value and the market cannot be influenced or destabilized by a bad decision of a central bank or a bad report of some rating agency.

    Here my GRC address:
    SDoZntH3Ybf37EZ7Mq8AVwn52C72hbDcn1

    ReplyDelete
  18. Cryptocurrencies become more popular day after day. I think that in future they can replace the bank scam-money. Many money are moving in crypto every day. Total market cap is huge and will grow more, MUCH MORE!

    Gridcoin addr.: Rzjm2Jvdv1qwqpD7hv7FawZDyQNzviheaR

    ReplyDelete
  19. Cryptocurrencies became really popular in my country, but then when the price went down from 1800$ to 300-400$ everyone just stopped using them, there also used to be 3-4 places in my country were you could pay with bitcoin now its only 1.
    But the reason cryptocurrency is popular in my opinion is because its private, when you send something nobody knows to who youre sending it or when you receive something nobody knows from who you got it.
    But some people like to use that for drug dealing and they are taking advantage of our privacy we've finally got.
    Gridcoin address:SEKLAdiML8BNAc87nQTMYE1ToBpmkgXZ9B

    ReplyDelete
  20. in my country Indonesia had much to know about bitcoin but in my country can not accept bitcoin except through bitcoin.co.id address but I believe society will slowly getting used to the bitcoin in the future
    GRIDCOIN WALLET : RzwUwKDQv1VBPCCjKjpUYk33DrK5k9QY2s

    ReplyDelete
  21. I completely agree with the article. In fact, Canada is one of the most friendliest countries so far to bitcoin and digital currencies, so it is easy to presume that the ecosystem keeps on growing and more and more canadians are getting in!

    ReplyDelete
  22. as a canadian myself, im pretty happy to see that btc starting to get more traction. I hope we'll see some new btc related services from canadians too.

    grc: SDHcoXD4SjhFDhhmKsG9j7kedbgjrW5XXK

    ReplyDelete
  23. Now that Bitcoin is more stable and more international I hope it can truly become a worldwide currency that remains stable even when smaller economies fail, causing more world wide adoption.

    GRC: SKCwVD11e8MqLQG4zu4bz8wc7WVZ3AkZkf

    ReplyDelete