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Daniel Micay
@DanielMicay
twitter.com/DanielMicay/st To go along with this, PayPal has been repeatedly freezing transfers of contract income to my account for the past few months. Interac e-Transfers work alright for transfers within Canada although the arbitrary limits on transfers are often very painful.
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Daniel Micay
@DanielMicay
I was reluctantly selling Bitcoin through QuadrigaCX due to lack of decent exchanges available to Canadians. I would have used Coinbase but they dropped support fiat withdrawals in Canada. Since I didn't trust them, I kept the value there at < 1k USD by doing it at a slow pace.
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Daniel Micay
@DanielMicay
Google's approach of sending wire transfers is terrible since you end up being charged $20 in fees and 2.5% currency conversion fees. I got rid of the conversion fee by giving them the RBC US branch information with a USD account but I still lose $20 from each bug bounty payment.
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Daniel Micay
@DanielMicay
They recently sent $200 for a small finding so 10% was wiped out by fees. It's also incredibly annoying needing to convert large batches of money from USD -> CAD via an ETF since our banks won't provide a reasonable currency conversion rate or a no annual fee USD credit card...
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Daniel Micay
@DanielMicay
Look at the thread I linked: twitter.com/DanielMicay/st I'm currently only taking donations via Bitcoin but there are few merchants accepting it so I need to convert it to CAD. That means trusting an exchange and there aren't many options in Canada. The one I used is defunct...
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Daniel Micay
@DanielMicay
I was reluctantly selling Bitcoin through QuadrigaCX due to lack of decent exchanges available to Canadians. I would have used Coinbase but they dropped support fiat withdrawals in Canada. Since I didn't trust them, I kept the value there at < 1k USD by doing it at a slow pace.
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Daniel Micay
@DanielMicay
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@DanielMicay
I received a fair bit of my contract income via Bitcoin and the value has dropped *substantially* since then which is quite annoying. I'm unsure if I can claim that as a loss on my taxes since I didn't actually buy any of it. I'll need to look into that in the next few months.
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Daniel Micay
@DanielMicay
The issue is that I received contract income as Bitcoin and the value dropped substantially before I was able to spend or convert it, so ideally I can claim the depreciation as a loss on my taxes. It won't make up for losing that much value but at least it would be something.
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