Crypto for Canada – Episode 003

Crypto for Canada – Episode 003

O Canada! Where pines and maples grow…

This land of maple trees is also known for the country with the most Bitcoin ATMs, hence the title “The most Bitcoin-friendly nation”. The Canadian government envisioned to legalize cryptocurrency in the near future. To date, there are currently 140 Bitcoin ATMs and 6,000 Flexipin retailers in Canada, thus providing a simple way for the users to exchange Bitcoin into Canadian dollars. 

Vancouver and Toronto, the home of Bitcoins have recorded one of the highest rates of digital currency operations in Canada. The adoption of cryptocurrency is so positive that even the bank of Canada is attempting to implement blockchain technology into their banking system. The operation was however put on hold. Nevertheless, you can still put your cryptocurrency into good use in Canada. 

Let’s explore at restaurants and other physical stores that accept cryptocurrency as payment in Canda: 

 

Gîte TerreCiel

Mancini, the owner of Gîte TerreCiel located in Baie-Saint-Paul, Quebec started accepting Bitcoin as payment in late October 2013. Gîte TerreCiel is the first bed and breakfast lodge in Canada to accept Bitcoin as a form of payment. Another effort Mancini took to promote the use of cryptocurrency is by giving 10% off when making payments using Bitcoin. 

 

KFC Canada

This “finger-lickin-good” restaurant added Bitcoin as a payment method on their online website check out page. Users are able to pay using Bitpay, a cryptocurrency payment solution. This initiative is done to promote the “Bitcoin Bucket” however, for a limited time only. “If Satoshi reveals his true identity, his bucket is on us.”  tweeted KFC Canada on Jan 2018. 

 

Clearly Contacts.ca

Roger Hardy, CEO and founder of Clearly Contacts.ca first revealed that they added 20 currencies including Bitcoin as a form of payment. Clearly Contacts.ca is also known for the largest online retailer for eyewear in Canada, not to mention, the first major Canadian retailer and online eyewear retailer to accept digital currency as payment for products in 2014. 

 

Simon Fraser University

SFU University located in Vancouver embraced the cryptosphere by starting to accept donations in digital currency on Aug 2014. The university uses this initiative as a way to boost the image of SFU as a forward-thinking institution. The first donation was accepted by Mike Yeung, the Bitcoin Club president snd Scott Nelson, SFU alumnus with the amount of 1 Bitcoin.

 

Royal Bank Of Canada

The use of debit cards and credit cards for the transaction involving cryptocurrency is prohibited on the Royal Bank of Canada according to ICO.com. In recent news, RBC was rumoured that they will be exploring on a trading platform for digital currencies including Bitcoin, Ether etc. along with a plan to provide users with an easy way to open bank accounts for cryptocurrencies. 

 

Bitcoin ATM

Apart from maple trees, Canada is known for the country with most Bitcoin ATMs. The location varies from inside a coffee shop to a nearby gas station. Below are the list to some of the Bitcoin ATMs located in Canda:

  • Calgary
  • Edmonton
  • Vancounver
  • Winnipeg
  • Ottawa
  • Toronto
  • Montreal

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Previous What To Do With My Crypto Assets - Episode 002 
Next 2020 Bitcoin Halving Aftermath

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