Crypto exchangers and wallet providers in Canada were names rarely seen or heard of but that has changed over the last few months where Bitcoin is more in the press lately.
Kevin O'Leary, the popular Canadian millionaire known as Mr. Wonderful was totally against crypto but that changed last year where I'm sure the money earning potential changed his mind and he is now a part of/backer of the De-Fi outfit called WonderFi.
WonderFi was a work in progress but now making moves and is buying it's 2nd registered crypto exchange called Coinberry for 38 million. It's first acquisition was Bitbuy. Both established and showing growth.
I got interested when I first seen WonderFi surface knowing that Mr. O'Leary of the TV show Shark Tank and Dragon's Den, would want all to be legal and abide by Canadian regulations. Wonderfi's holdings would be an avenue to hold my Canadian crypto where I can trade, fund/withdraw with my Canadian Bank with no or low fee where before I was only involved with the US exchanges like Kraken and Coinbase.
Currently, I'm not interested in the De-Fi app of WonderFi itself where it's only available to residents of BC and Alberta while they work on being registered in other provinces of Canada. Bitbuy and Coinberry have what I'm looking for and I'm registered there.
When you think about holding Bitcoin for example, it's virtual currency, money or called 'property' with some tax laws. It doesn't become cash until withdrawn to USD or CAD so one needs the means to be able to make those transactions and that's important on my end.
Being able to purchase directly with Bitcoin and other coins up to and including homes, condos, etc. is a growing option is areas but currently, I prefer cash in the hand with hassle free transactions when I want it and that's a reality now in Canada depending on the crypto site used and it's always wise to check that it's registered to operate in Canada.
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