Discussions

Was thinking of risking a small investment in bitcoin. Where is the best place to buy it through?

I like Kraken, Newton, and Binance. You can also buy on WealthSimple, but you'll just own a token that follows the value of Bitcoin, instead of actually owning Bitcoin.

Any income tax implications with Bitcoin or is it just like speculating with currencies?

I like Newton. Easy to add and remove funds.  
 
As with anything in Canada, there will be capital gains.

ok you buy the coins. how easy is it to convert them to cash into your canadian bank account. and visa versa.

Crypto assets are treated as either business income or capital gains. Definitely worth reading up on the applicable tax rules and keeping track of all your crypto purchases for tax purposes.

Victoria Minimart has a bitcoin ATM. I've always wondered how that process worked.

@chrisanddave it's very simple. Just a few button clicks really. It would look something like this:  
 
Open Newton account. E transfer cash to Newton. Buy Bitcoin (or a whole pile of other crypto) with CDN cash. You now have x number of Bitcoin.  
 
To sell the process is just backwards and still in Newton. Trade/sell Bitcoin for CDN cash. E transfer to back account.  
 
The switching of cash to crypto and vice versa happens on an exchange ie. Newton.  
 
As for the Bitcoin ATM, I know much less about them. I think you need a verified account on the operators network and some of the machines camn charge some interesting fees for withdrawal. I could be wrong on that.