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Author Topic: Banks in canada that open business accounts for bitcoin mining  (Read 42 times)
sz921
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New to mining, any advise would be appreciated


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February 27, 2018, 06:29:12 PM
 #1

Hi guys

I want to open a bank account for my business related to bitcoin mining in canada

Can you please provide me with some advice

please feel free to send me a personal message for any additional information, im more than happy to help
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February 28, 2018, 03:46:31 AM
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Do you live in Canada?
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March 06, 2018, 04:21:15 AM
 #3

Most banks won't allow business accounts related to crypto.

If you are just mining for personal income you don't need a business account.


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sz921
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New to mining, any advise would be appreciated


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March 06, 2018, 04:25:06 AM
 #4

we are a start up company our basic function is crypto mining
we tried to go to BMO and Scotia bank and both woukdnt allow anything related to bitcoin or cryptos which i found very weird because it is legal in canada, anyway we ended up going to a third bank and we didnt state the nature of our business in detail and we ended up with a business account

all our machines till now are s9s and t9s but do you know where i can buy some gpus and graphic card so i can start testing them and seeing how they work ?

please feel free to send me a personal message for any additional information, im more than happy to help
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March 06, 2018, 05:01:49 AM
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Almost the same as the United States, Canada is also known as one of the countries that receive the entry of Bitcoin well. The Canada Revenue Agency (CRA) has classified this digital currency as a commodity. This implies that transactions in Bitcoin are considered as barter transactions. Earnings generated by these transactions are considered as business income. Taxation Bitcoin depends on its nature. Bitcoin exchange in Canada is also subject to anti money laundering legislation (AML). In addition, the exchange is required to register to the Financial Transaction Analysis Center and Report (FINTRAC).

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bryan21
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March 06, 2018, 08:47:05 AM
 #6

Canada accept bitcoin as digital currency. So it's easy to open business for bitcoin.
I hope one day banks will accept and collaboration with bitcoin, for better service with clients.
Great news if bank in Canada can open that business, I sure the bitcoin will be more success.

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