2022 Fintech and Funding Conference (FFCON22: REGEN) | Dec 1 + Dec 6, 2022 Hybrid

Category Archives: Online Funding / Investing Portals

CoinSmart Announces Acquisition by Coinsquare

Coinsmart | Release | Sep 22, 2022

Coinsmart - CoinSmart Announces Acquisition by CoinsquareTORONTO, Sept. 22, 2022 /CNW/ - CoinSmart Financial Inc. ("CoinSmart" or the "Company") (NEO: SMRT) (FSE: IIR), announced today that it has entered into a definitive agreement dated September 22, 2022 (the "Purchase Agreement") with Coinsquare Ltd. ("Coinsquare"), a leading Canadian crypto asset trading platform, pursuant to which CoinSmart has agreed to sell to Coinsquare all of the issued and outstanding shares of its wholly-owned operating subsidiary Simply Digital Technologies Inc. ("Simply Digital") (the "Transaction").

  • The acquisition and integration of these two businesses will establish Coinsquare as one of Canada's largest crypto asset trading platforms with a diversified and compliant offering across various business lines, including both retail and institutional trading, crypto payment processing, and digital asset custody.
    • CoinSmart will hold approximately 12% ownership in Coinsquare on a pro-forma basis.
    • The combined company has transacted over $10 billion since January 2018, and will have over $350 million in assets under custody with a combined user base in excess of 1 million.

See:  FINTECH FRIDAY$ (EP23-Feb 1): Getting Smart About Crypto and Insurtech Snapchat Models – Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange

  • CoinSmart Co-Founders Justin Hartzman, Jeremy Koven, and Michael Koral, amongst others, will join Coinsquare. Justin Hartzman will join the Coinsquare Executive Team and CoinSmart will be entitled to a nominee to join the Coinsquare Board of Directors upon completion of the Transaction.
  • Acquisition of Cash and Shares with Upside to Shareholders: consideration payable to CoinSmart at closing of $3 million in cash, and the issuance of 5,222,222 common shares of Coinsquare ("Coinsquare Shares"), with an aggregate deemed value of approximately $26,215,555, plus the ability to receive up to approximately $20 million in additional cash consideration on the achievement of SmartPay business earn-out targets and 1,100,000 Coinsquare Shares on the achievement of over-the-counter ("OTC") business earn-out targets. It is further anticipated that CoinSmart will hold cash (or crypto assets) of approximately $10 million on completion of the Transaction.

"Today is an exciting day for all of us at CoinSmart," said CoinSmart CEO Justin Hartzman. "We are thrilled to be working alongside the Coinsquare team to build one of the largest regulated crypto asset trading platforms in Canada and I could not be more proud of what we have accomplished so far. With a diversified product suite, exceptional crypto talent, and one of the largest user bases in Canada, the combined company will be well-positioned to pursue its aggressive expansion plans. While the crypto market is in the building phase of its life cycle, this transaction will provide the torque needed to be in a favourable position entering the next bull run."

View the original release --> here


NCFA Jan 2018 resize - CoinSmart Announces Acquisition by CoinsquareThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Trading and the Power of Expectations (including your own)

For Bitvo by Tristram Waye | Sep 22, 2022

Power of expectations - Trading and the Power of Expectations (including your own)Power of expectations and some broad elements that may impact your trading

The deeper you get into the trading arena, the more you will notice the power of expectations.  Expectations shape pricing and the moves in response to news and events.  They shape how market participants reflexively respond and reposition which further influences prices and policies.  And that means that expectations affect your trading decisions.

The Fed and the economic data:  We will be focused on the US because the Federal Reserve can be considered the world’s central bank.   These reports give some insight into the economic conditions taking place. Some of these have a lag. Others are more recent. And there are other reports that give more granular insights into business conditions and numerous other metrics. 

See:  Should You Be Hedging Your Crypto Trading?

  • These data points have varying relevance and importance based on circumstances in the real world. So one data point might be a focal point in one period and of little relevance in another. And, of course, there are seasonal trends in many data points.
  • Right now, there is a focus on inflation. Inflation management falls to the Federal Reserve through its labor and price stability mandate. The Fed has various monetary tools at its disposal to do this. The most obvious is the use of interest rates.
  • The Fed relies on various data points to make decisions around the level of rates. And they have models and theories to make predictions about what they see happening.
  • Professional investors attempt to anticipate what the Fed will do by reading the economic tea leaves. These predictions by investors form a consensus number, AKA, what is expected. Outliers from this consensus or expected number are sometimes called whisper numbers.
  • If you go to Finviz.com and scroll down the page about halfway, you will see the economic releases for the day. Here you can see the prior number, the expected number, and the actual number for the data points.

Consume Price Index (CPI)   The CPI number comes from the US Bureau of Labor Statistics.

  • The CPI number represents a basket of goods and services that a typical consumer buys. The report is like a poll of goods and services. Each month the CPI is measured for these various goods, and the report is compiled and released.
  • The changes in prices are considered a measure of inflation in the economy. And when you put several reports together, you can see trends and changes in trends.

See:  Visual Capitalist: Inflation Rates and Interest Rate Hikes by Country

  • One of the criticisms of the report is that the methodologies have been changed previously, so it doesn’t represent the real change taking place.
  • Another is that it isn’t a realistic gauge of prices real people experience. It is often believed that prices are typically much higher than reported.
  • Inflationary environment
    • Over the last two years, previously unimaginable levels of liquidity were created. I believe the figure is a 65% YoY increase in money supply in two years. The St. Louis Fed has a chart to show you just how dramatic this has been.
    • One explanation for this liquidity change is the pandemic conditions.  Now the increase in M1 also accompanies gargantuan spending by congress. The result is an explosion of money in the system. This liquidity is widely believed to be the primary driver of inflation.
    • The other driver of inflation is supply chain issues, particularly in energy.
    • And then there was a conflict in Eurasia that took this supply chain problem in energy and made it worse.
    • Add to this a nuanced labor problem. Recent actuarial reports for group life policyholders and the recent uptick in disability seem to suggest something is happening to working-age people. The NFIB small business survey indicates a labor problem in terms of quality for many businesses. And that’s in spite of numerous layoffs. Put it all together, and the competition for skilled labor is fierce.

Labour and Energy:  Now, this isn’t the only number that matters. There is also the producer Price Index (PPI) which measures input prices for businesses.  There are unemployment claims, continuing claims, and the “jobs number” to measure employment trends. There are also various reports from each Federal Reserve banking region. And there are weekly EIA oil numbers that come out every Wednesday that shape energy prices.

See:  Manage Your Way Through The Labyrinth Of Cryptocurrencies By Following These 6 Tips

  • For most businesses, their two biggest inputs are labor and energy. Changes in labor and energy prices eventually flow through to the consumer in the form of higher prices.
  • It can also appear through shrinkflation, where the thing you usually buy is the same price, but you get less of it.
  • For consumers, there are a variety of demands on their income, many of which are included in the CPI.
  • And all of this is part of a system where the Fed has an inflation target of 2%. Why 2%? Part of the target is that 2% encourages capital flows. Meaning, that with an ongoing loss of purchasing power, the system is designed to encourage investment to overcome this deficit.

Understand expectations (including your own)

The path ahead requires an understanding of the role bitcoin and different parts of crypto play in the current worldwide asset mix. And that means understanding how trading is being influenced by other forces in the wider economic matrix.  One of these forces is expectations and how they are shaped.

See:  What Millennials Want From Their Wealth Management Firm

  • And as you look around, you will see that every article, every piece of news, content, narrative, and evaluation of market action shapes expectations. Which is why this is so important to consider.
  • Moving ahead the narratives will be changing. There are many catalysts ahead that are much more significant than the CPI number. And in each case, lots of pundits, journalists, influences, and chatterers will be working hard to shape expectations.
  • And knowing what the expectations are, and when the catalysts are due, can help you manage risk effectively in a chaotic environment.
  • All of which will create significant trading opportunities.

Continue to the full article --> here


NCFA Jan 2018 resize - Trading and the Power of Expectations (including your own)The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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What Are Bitcoin Options?

Guest Post | Sep 21, 2022

Options - What Are Bitcoin Options?

Bitcoin Short History

Bitcoin was created in 2009 as a safe haven from government oversight. It was a developer’s response to the housing crash of 2008, using his knowledge of economics and cryptography. Although there are thousands of coins in the cryptocurrency market, Bitcoin has retained its significance in cross-border payment and is even made better with competition for the lowest fee bitcoin exchange.

Thankfully, there are more advanced ways of profiting off the volatility of Bitcoin beyond the common buy-hold-sell strategy. Bitcoin options trading is one of these advanced methods.

Are There Options on Bitcoin?

Yes. Traders can buy options contracts to speculate on the future price of Bitcoin. For buyers, options offer a way to hedge their long positions and enjoy leverage at a capped loss. In contrast, options writers get to enjoy the flexibility and keep the premium if the options expire worthlessly.

Bitcoin Call Options

When you believe the price of Bitcoin will increase past a certain level, you can buy a call option. Your option will be exercised if Bitcoin increases past the price on/before the closing date. If, however, the price of Bitcoin does not touch your presumed price, you only lose your premium paid.

Bitcoin Put Options

In the same way, when you believe the price of Bitcoin will drop to a certain price, you can buy Bitcoin puts. Your losses are capped as you only lose the premium if Bitcoin does not eventually fall to the strike price.

Holding and Writing Bitcoin Options

For every buyer, there has to be a seller. Every crypto option bought was written by a trader. Options are mostly for flexibility, as they allow traders to enjoy passive income in premiums if the option expires worthless. With the volatility of the crypto market, writers are betting that Bitcoin will not reach the seller’s assumed price.

The Greeks

Are there any metrics that gauge the strength of Bitcoin options against the spot price of the cryptocurrency? Yes. Bitcoin Greeks is the collective name given to these metrics.

Greeks are used by investors to gauge various metrics — from the volatility of the option to its sensitivity.

The five popular Greeks are Delta, Gamma, Vega, Theta, and Rho and these five form the basis of every other Greek you may come across in the future.

5 main greeks - What Are Bitcoin Options?

Bitcoin vs Bitcoin Options

How does Bitcoin option compare to Bitcoin? Why should traders consider one over the other?

Hedging

Market sentiments can prove to be irrational, with Bitcoin experiencing some months of corrections. For large Bitcoin holders, put options can be a way to make a short-term profit from a cryptocurrency correction while still maintaining ownership of their longs.

long straddle - What Are Bitcoin Options?

Price Speculation

The ratio of crypto call to put options can indicate the overall market perception of where an asset’s price is heading. Crypto currency options can be used to speculate on Bitcoin’s future price.

The Benefit of Leverage

One option contract is equivalent to 100 cryptocurrencies. If you buy a BTC contract, it’s invariably saying you bought 100 BTC. With options. Traders can leverage their positions at a little cost.

See:  The Growing Relevance Of Bitcoin In Real Estate

Closing Dates

All options expire, no matter how long they’ve existed. Closing dates give options traders the chance to make achievable, measurable targets on short-term movements of Bitcoin.

How to Trade Bitcoin Options

The first step is choosing an exchange that allows Bitcoin options.

Next, choose your strike price. Most exchanges have put options at one end and call options at the other.

So, how to buy Bitcoin options depends on the exchange, but basically, you will see the Ask and Bid prices. If you want to sell the options strike price, the Ask shows the premium you will receive for doing so. If you want to buy, the bid shows how much you will pay to buy the options contract.

Pay for the contract and wait for the closing date. If your options are American-type options, you can exercise the contract anytime before the closing date.

Are Bitcoin Options A Good Investment?

Bitcoin options can provide a low-risk approach to profiting off the crypto market. Although the process to trade Bitcoin options involves combining different buy and sell tactics to make the most of the existing market volatility, they can be as simple as buying Bitcoin futures.

Conclusion

It is advisable to gain enough knowledge before trying BTC options trading as it is easy to lose money. Nonetheless, some exchanges like Redot are working on a simple-interfaced way to trade options. Hopefully, this would make them a one-stop shop for where to buy Bitcoin options.


NCFA Jan 2018 resize - What Are Bitcoin Options?The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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The Different Casino Options in Ontario Canada

Guest Post | Sep 14, 2022

Canadian flag in the air - The Different Casino Options in Ontario Canada

Gambling is a popular pastime in Canada, with many people enjoying the thrill of placing a bet on their favorite team or horse, or even while playing their favorite casino games. However, with so many different gambling options available, it can be difficult to know where to start.

In this blog post, we will take a look at the different gambling options available in Ontario so that you can make an informed decision about where to spend your hard-earned cash.

The Different Gambling Options in Ontario Canada

There are a couple of different main types of gambling available in Ontario: sports betting, casino gambling, lottery games, as well as charitable gaming. Each type of gambling has its own unique set of rules and regulations, so it is important to understand the basics before you start placing bets. Here is a quick overview of each type of gambling:

Sports Betting

Sports betting is one of the most popular forms of gambling in Canada. You can place bets on almost any sport, from hockey to football to horse racing. The most common type of bet is a spread bet, which is based on the point differential between two teams or horses. For example, if you were betting on a basketball game and the Toronto Raptors were playing against the Los Angeles Lakers, you might see a spread of 5.5 points. This means that if you bet on the Raptors, they would have to win by more than 5.5 points for you to win your bet. On the other hand, if you bet on the Lakers, they could lose by up to 5 points and you would still win your bet.

Casino Gambling

Casino gambling involves playing games such as blackjack, poker, and slots at a brick-and-mortar casino or online casino. When you're casino gambling, you're typically playing against the house rather than other players. This means that the odds are usually stacked against you, but there's still a chance to win big if you get lucky. One of the biggest benefits of casino gambling is that it's usually a social activity, so you can enjoy spending time with friends while trying your luck at winning some money.

It is important to note that iGaming has recently become available in Canada’s most populous province, which is why we have seen the emergence of a top Ontario Online Casino platform in recent months that allows players to choose and play from a collection of impressive games.

Ontario had recently passed the C-218 bill which meant it is now possible to place single-sports bets, as well as wager on iGaming titles in the safest way possible.

Lottery Games

Lottery games are another popular form of gambling in Canada. The most popular lottery game is Lotto 6/49, which is offered by the national lottery corporation known as Loto-Quebec. To play Lotto 6/49, you simply pick six numbers between 1 and 49 and then hope that those numbers are drawn when the weekly lottery draw takes place. If all six of your numbers are drawn, then you win the jackpot!

Lottery games are popular because they offer Canadians the chance to win big without having to spend a lot of money on tickets. However, it is important to remember that your odds of winning the jackpot are very small (approximately 1 in 14 million), so don't expect to become a millionaire overnight!

Additionally, the OLG offers both online and retail lottery products.

Charitable Gaming

Charitable gaming includes various activities such as bingo, raffles, break-open tickets, and gaming events (e.g., Texas Hold’em poker tournaments). These activities help raise funds for charitable organizations across the province.

Final Thoughts

As you can see, there are many different gambling options available in Ontario. Sports betting is one of the most popular forms of gambling due to its simplicity and accessibility, but casino gambling and lottery games offer their own unique benefits as well, with each of them having proven to be rather popular with the country’s nationals.

See:  What Will Gaming and Video Entertainment Be Like in 2030?

Regardless of the type of betting activity that you may be looking to enjoy, Ontario clearly provides punters with the opportunity to participate in an activity, while also ensuring that the best and most positive experiences are only enjoyed, too.


NCFA Jan 2018 resize - The Different Casino Options in Ontario CanadaThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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CI Interview: Securities Crowdfunding Under Reg A+, Reg CF, Fractional with Etan Butler of Dalmore Group

Crowdfund Insider | J.D. Alois | Sep 8, 2022

Dalmore Group Etan butler - CI Interview:  Securities Crowdfunding Under Reg A+, Reg CF, Fractional with Etan Butler of Dalmore Group

Dalmore Group is a regulated broker-dealer that is very active in the securities crowdfunding sector, helping firms raise money using Reg A+ (Regulation A), Reg CF, as well as Reg D. Dalmore not only enables funding via exempt securities offerings but it also provides secondary share access, including fractional share offerings.

While Reg D (both 506c and 506b) is only available to accredited investors, Reg A+ and Reg CF allow non-accredited investors to gain access to private securities. Last year, the Securities and Exchange Commission made several material improvements to the private securities marketplace including increasing the funding cap under Reg CF to $5 million, from an anemic $1.02 million and Reg A+ from $50 million to $75 million. These changes, along with several others, have been good for the securities crowdfunding market as funding portals and broker-dealers work to assist private firms to gain the growth capital they need to thrive.

As the online investment market has grown, several broker-dealers have risen in prominence in this business – Dalmore is one of them. Their name is frequently listed as the broker of record on securities offerings (think the recent Boxabl success) – including Reg A+ issuers which do not need to be listed on a platform. According to the company’s website, Dalmore has worked with over 230 issuers having facilitated over $3.6 billion in live Reg A+ offerings – including a pipeline of a whopping $4.3 billion in future securities offerings.

See:  Regulatory Committee: SEC Small Business Advisory Votes to Improve Secondary Trading of Reg A+ Securities

Recently CI connected with Etan Butler, the founder and Chairman of Dalmore Group – to discuss online capital formation today and his expectations for the future:

Select Interview Highlights

  • Hockey stick growth: Asked if the COVID health crisis, and rising inflation have impacted Dalmore’s operations – similar to what we are hearing about VC funding – Butler said, no it hasn’t and the number of clients and inbound calls has increased consistently.
  • Online funding channels gaining popularity: Butler added that more companies are showing a preference for online capital formation as opposed to being forced into it – say a SPAC has fallen through.  While there is risk in choosing any path, the option to crowdfund and raise on own terms is gaining in popularity said Butler.
  • RegA+ specialists: “We work with companies looking to raise $3 to $5M which is often a bridge to a Reg A”+, he said. Butler added that they do a lot of Reg Ds but, at this point, the vast majority of their clients are Reg A+ issuers with Reg CF and Reg D offerings growing. There are also a number of Reg S (international) offerings they have enabled.

See:  Free to Trade: Securities Issued Under Reg A+ May Trade in Canada

  • On deal quality:  Butler acknowledged that when you open up the private securities market there will be more deals that are “subpar.” But at the same time, there will be more deals that come to market that can be the “next big thing.”
  • You highlight fractional shares on your website. This allows the issuer to fractionalize the asset. At the time of our discussion, Dalmore had worked with more than 35 Series issuers. Butler said these can help an investor diversify their portfolio too as they can determine what assets they hold as opposed to someone else’s fund. There is a caveat that some of these assets may have very little liquidity.

Continue to the full article --> here


NCFA Jan 2018 resize - CI Interview:  Securities Crowdfunding Under Reg A+, Reg CF, Fractional with Etan Butler of Dalmore GroupThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Popular Payment Methods in the Canadian Gaming Industry

Sep 9, 2022

casino payments paypal and others - Popular Payment Methods in the Canadian Gaming Industry

The gaming industry in Canada is on the upswing at the moment. Significant growth in the iGaming industry occurred during the pandemic. Every day a large number of users come to online casinos. When choosing a suitable playground for games, clients are guided by several factors at once. The number of available payment methods is the primary criterion for selecting the best site. It is essential for the client to be able to easily, quickly, and safely withdraw the received winnings from the online casino.

The player is also interested in what kind of bonuses are available on a particular site. One of the popular types of promotions is free spins Canada. The client can receive additional winnings at the play casino when using free spins. Another standard bonus is an additional amount to the deposit when replenishing the account. Most often, the promotion is valid for new customers at the first replenishment of the account. To pick up the casino win, you must fulfill the wagering requirements. Only the game for real money in the games determined by the administration is considered. The wagering conditions stipulate how much the client must spend on bets to withdraw the money.

Below, we will explain what payment methods are available at Canadian casinos. Most often, customers are offered to make a payment using Visa, MasterCard, Neteller, PaySafeCard, ecoPayz, Interac Online, PayPal, and so on.

TOP 3 popular payment methods in casinos in Canada

Online casino users often use PayPal, ecoPayz, and Interac Online for settlements.

PayPal

The company occupies a leading position in the field of financial transactions around the world. Most online casinos in Canada support this payment method. The method is suitable for customers looking for a quick way to withdraw winnings. The process of using PayPal is straightforward. Before playing casino, the user needs to replenish the account.

The client must follow the step-by-step instructions:

  1. The user must log in to his account using his username and password. Next, go to the "Cashier" section. The player then selects PayPal from the list of suggested payment methods.
  2. The client enters the amount of money deposited into the account. Previously, the player needs to familiarize himself with work conditions at a particular site. The administration indicates information on the minimum deposit amount.
  3. The player confirms the transaction. Replenishment of the account is instantaneous. The money will be credited to the game account within a few seconds.

After replenishing the account, the client can bet, take part in promotions and use the bonuses offered by the online casino.

How to withdraw money from a casino using PayPal

The client should carefully read the terms and conditions of a particular casino. So, he will understand what restrictions and requirements apply on the site.

To withdraw money, you need to take 3 steps:

  1. Go through the verification procedure. To accomplish this, the client should fill in all the questionnaire information in the Personal Account. Additionally, he attaches scans of the passport and other required documents. All photographs must be of good quality. The information will be used to compare the questionnaire data. The administration at some sites utilizes video communication for customer checks.
  2. The player needs to go to the "Cashier" section after passing the verification. Choose PayPal from the suggested payment methods.
  3. The user specifies the amount of money to be withdrawn to the account. The withdrawal amount must comply with the limits set in the online casino.

The funds will be transferred to the payment system account shortly. . The administration processes applications within 1-2 days from the submission date.

EcoPayz

EcoPayz is an electronic wallet popular in many countries, including Canada. The wallet was launched on the market in 2000 under the name ecoCARD. In 2013, the company rebranded. The wallet received a new name and expanded the list of functions available to customers. The payment method is in high demand in Canadian casinos. The wallet lets you quickly replenish your account and withdraw money without delay.

How to deposit with ecoPayz

The procedure for replenishing an account is similar to the process of using other electronic wallets. The client must ensure that a particular online casino supports this payment method.

Casino tips for depositing with ecoPayz:

  1. The user needs to ensure that the wallet is activated and verification is passed to confirm the owner's identity.
  2. The player selects the appropriate payment method in the Cashier menu.
  3. You have to link your casino account with your e-wallet. To complete this, the user must to follow the instructions on the screen.
  4. Specify the amount by which you need to replenish the account. Almost instantly, it will appear on the deposit after payment.

Similarly, transfers of winnings to an electronic wallet are carried out. Then the client can use the received money to pay for services, transfer to a bank card, etc.

Interac Online

Interac Online is one of the most secure payment methods in the country. The platform was developed in Canada. Currently, it is part of the financial and banking system of the state. Most residents prefer this system when making online payments, including for online casino settlements. With Interac Online, you can make fast, convenient, and secure online payments.

See:  Bank of Canada: The Latest on Retail Payments Supervision and Survey

This method of making deposits is found in almost all online casinos operating in Canada. Since the payment method is part of the country's financial and banking system, making payments has several features. Particularly, the casino client will need to enter their bank details.

The account replenishment process itself involves the following steps:

  1. The client logs in to the casino and goes to the "Cashier" section. Among the available payment methods, he chooses Interac.
  2. Enter the necessary banking information. Before proceeding, you have to check the correctness of the entered details.
  3. The user specifies the amount to be credited to the account.

After confirming the transaction, the money will be in the game account. Further, the client can play gambling for real money and participate in promotions and promotional offers.

What other payment methods are supported at casinos in Canada

Several more payment methods can be used to make payments at online casinos in Canada.

Bank transfers

One of the first payment methods that Canadian gambling establishments began to support. Many customers still prefer to use it to make payments. Nevertheless, the method has several drawbacks – the funds are credited to the account only a few days after the transaction and the client is required to indicate his bank details when making payments.

Prepaid cards

This method may be the best option for gamer who does not want to disclose their bank card or e-wallet number when interacting with an online casino.

Another plus of this method is that the client gets complete control over his bankroll. He will not be able to lose more money than was originally on the prepaid card's balance. To make a deposit, you will need:

  1. Go to the cashier section. Choose prepaid cards from the available payment methods.
  2. Enter the PIN code indicated on the purchased card.
  3. Wait until the money is credited to the account.

Many companies distribute prepaid cards in Canada. The most famous providers are Revolut, Paysafecard, and Neosurf.

Electronic wallets

It is the payment method of choice for many Canadians. The reason for this is the availability of the payment system and the high speed of transactions. Electronic wallets are a gateway between a bank account and a merchant. The client gets the opportunity to replenish the account without disclosing his banking information. There are not as many online wallets available in Canada as there are in Europe. At the same time, payments can be made using PayPal, Google Pay, Apple Pay, EcoPayz, WebMoney, and MuchBetter. The list of supported systems will depend on the casino's features.

Mobile payments

Mobile payments are becoming more popular every day among online casino account holders. You can top up your account in Canada using operators Bell Canada and TELUS Mobility.

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The method is suitable for players who need to replenish their accounts with a small amount quickly. The disadvantage of this replenishment method is that it cannot be used to withdraw funds.

Cryptocurrency

Cryptocurrency is the most innovative way to deposit at Canadian online casinos. Payment with digital money appeared not so long ago, so now, not all playgrounds support this method. Clients choose to replenish their accounts with cryptocurrency due to several advantages of this method:

  • Complete payment security. The client does not indicate any of his data when making transactions. There is no hazard of information theft by fraudsters.
  • High speed of payments. On average, money is credited to the account within a few minutes. Withdrawal operations are also carried out quickly.
  • Payments are tax-free in most countries. So the client can save on transactions.

How quickly will the money be credited to the account

The speed of withdrawing cash from Canadian casinos will depend on some factors:

  • Selected withdrawal method;
  • The time of the payment. Money is withdrawn faster during the day. In the evening, at night, on weekends and holidays, there are often delays;
  • The casino where the client is currently playing. The more famous the casino, the faster the moderators process withdrawal requests.

Casino life hacks – choose cryptocurrency or virtual payment systems for withdrawal, so the money won will be credited to the account faster. Withdrawing money to bank cards is the slowest.

Conclusion

Canadian online casinos offer a wide range of deposit and withdrawal methods to their customers. Before conducting transactions, the client should ensure that the platform operates within the framework of the current legislation. Only licensed sites guarantee compliance with all agreements. If the client cannot solve the problem through the administration of the online casino, he can always contact the regulator. The withdrawal method is mainly decided depending on many factors. Clients need to pay attention to the speed of transaction processing, limits, and the size of the current commission.


NCFA Jan 2018 resize - Popular Payment Methods in the Canadian Gaming IndustryThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Coinberry Sues 50 Users who Exploited Software Glitch to Acquire $3 million Without Paying

FP | Ethan Lou | Sep 8, 2022

coinberry - Coinberry Sues 50 Users who Exploited Software Glitch to Acquire $3 million Without Paying

Image: Unsplash/Tech Daily

WonderFi’s Coinberry exchange lost 120 bitcoins and has yet to recover more than two-thirds of it

  • The Toronto cryptocurrency marketplace Coinberry, owned by Kevin O’Leary-backed WonderFi Technologies Inc., says it has lost some $3 million in bitcoin due to a software glitch and has yet to claw back two-thirds of it from hundreds of customers.
  • Glitch: Coinberry in 2020 underwent a software upgrade and accidentally let people buy bitcoin with Canadian dollars that had yet to be properly transferred to their accounts. Customers could initiate an Interac e-transfer, get the amount credited to their Coinberry accounts, buy bitcoin and transfer the coins out, and then cancel the original e-transfer, retaining their own funds and getting free bitcoin, Coinberry’s lawsuit read.

See:  Kevin O’Leary-backed WonderFi acquires Coinberry for $38.5 million

  • Coinberry’s lawsuit, filed in June, targets 50 customers of 500 who took advantage of vulnerability and also names the world’s biggest crypto exchange, Binance, because some people had allegedly transferred their ill-gotten bitcoin to that platform.
    • Coinberry said its list of bitcoin misappropriation does not include people who have taken and not yet returned amounts under $5,000, valued in May 2020.
  • “Coinberry was able to secure the return of approximately 37 of the misappropriated bitcoins from 270 of the affected registered users.” That leaves 83 bitcoins outstanding from about 270 other users.

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NCFA Jan 2018 resize - Coinberry Sues 50 Users who Exploited Software Glitch to Acquire $3 million Without PayingThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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