[badloginagain]

I started with CoinBase, not realizing that there wasn't a sell option in Canada. Ive moved to quadrigacx and it's worked well. 0.1BTC transactions are not a problem- I've seen sell orders on scale of 100BTC, so I'm not sure what CoinSquare is about with their limits here. It has several methods to sell/withdraw money to banks, with various fees and wait times.

The big thing for Canadians is on the taxation side. Trade on any digital currency is subject to capital gains- meaning they apply your tax bracket to half your profit.

If you trade digital currency for goods/services (ie. Use BTC as a currency), its considered barter trade. You get taxed on the converted dollar value of the transaction.

It appears Quadrigacx does not do any reporting to the CRA for your transactions, so of course all this would be self-reported at tax time.

[krrrh]

Capital gains is an issue for Canadians (and Americans) regardless of what exchange they use. Not reporting sources of income is tax evasion.

It’s amazing to me how frequently discussions of bitcoin profits are mixed with a casual attitude towards committing a major felony. A lot of people made a lot of money this year doing very little work. Be happy you live in a society where this is possible. Pay your taxes.

EDIT: And for everyone worried about a crash in 2018 resulting in a big 2017 tax bill that can’t be paid, a reminder that you can carry losses backwards in Canada for up to 3 years and get those taxes refunded.

[PeterisP]

IMHO in every country, at least in the first world, your profit from BTC growth would be taxable income, Canada is not special in that regard. The only question is whether it's interpreted as capital gains or something else in your jurisdiction.