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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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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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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I can spend Bitcoin directly on newegg.ca but unfortunately I haven't needed new hardware for a long time so I haven't had anywhere to spend it. I've just had to slowly convert it to CAD and I didn't trust QuadrigaCX enough to do it in large batches.
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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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I could use coincards to spend money on Amazon since it's one of the no fee cards, so that's useful:
coincards.ca/no-fee-gift-ca
I'm not going to pay their base 5% rate to convert money to gift cards though. It's nice when merchants just accept Bitcoin like newegg.ca.
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Also, I really don't need a mobile wallet. I'm perfectly happy using my Trezor Model T for everything with the standard wallet. If I could actually spend Bitcoin at most merchants, then maybe I'd have a use case for an everyday spending wallet. For now the Trezor covers my needs.
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Unfortunately, Canadian banks strongly dislike Bitcoin and have made it extremely difficult for exchanges in Canada. QuadrigaCX was by far the biggest Canadian exchange and their incompetence and/or ponzi scheme and/or exit scam will hurt Bitcoin adoption in Canada massively.
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The amount of money potentially lost due to QuadrigaCX is massive. I wouldn't be surprised if the government ends up cracking down on the remaining exchanges, etc. Canada has much stronger financial regulations than the US and this is going to be on their radar as a priority now.