Post by
Lawyerup on Nov 08, 2020 3:14pm
Seems to be the way to go for buying Bitcoin
I bought a bunch of GBTC last week and it seems far easier than buying coin on the exchanges. I have some coin on a ledger but everytime you move, sell or buy the exchanges take a large chunk like 5-10% per transaction. That and now the exchanges collect so much more personal information which I dislike. The CRA is also monitoring the exchanges in Canada much more closely. The exchanges are also not safe for anybody leaving cash or coin on their sites. I lost a few thousand with the QuadriCX scam which I will never see.
GBTC handles the security,and safety of the bitcoin its easy to buy and sell and the daily volume is huge. Downside its OTC so you can't put it in a registered account. GBTC is also like bitcoin very volatile and not for the faint of heart and be prepaid to either gain a lot or lose a lot. You pay a bit of a premium on GBTC but it seems much cheaper way of adding some bitcoin to your portfolios.
With Paypal soon you can buy bitcoin and use bitcoin to purchase items. I see bitcoin rising in value this year and soon will be over $21,000 just my opinion. Bottom line I prefer GBTC than actually buying cryptocurrency now. Best of luck, Charlie.