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Bitcoin, Ether, and Dogecoin are nosediving this week, but should Canadian investors who recently got in sell before the crypto crash worsens?

Bitcoin Collapses: Should Investors Buy the Dip? More on: Image source: Getty Images. Bitcoin took a serious tumble this morning, as the price of each token dropped 24% in a matter of hours. The cryptocurrency has now wiped off US$500 billion (CA$600 billion) in aggregate market value. This could have an impact on investors who hold cryptocurrency, Bitcoin mining stocks, and digital asset exchange-traded funds (ETFs).  It could also be an opportunity for new adopters and long-term investors to add more exposure. Here’s a closer look at what’s happening.  Why is Bitc...

Forget Bitcoin: Dogecoin, Ethereum, and Cardano Have Lower Mining Costs! Image source: Getty Images The cryptocurrency markets have taken a beating after Elon Musk tweeted about Bitcoin’s high mining costs. The price of one Bitcoin has fallen by 30% at the time of writing. Comparatively, Ethereum, which is the second-largest cryptocurrency in terms of market cap, is also down 25% from all-time highs. Musk had tweeted, “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any...

After a lengthy court battle, the agency won the right to demand customer data from Coinsquare, a cryptocurrency exchange. As a result, 5-10% of the exchange’s largest Canadian customers will have their account data handed over to the CRA. And they won’t be the last to have the CRA scrutinizing their accounts. With this ruling, the precedent has been established that the CRA can pull data on Canadians’ crypto transactions — not just from Coinsquare, but from all exchanges. The result will be more crypto traders having to pay up their share of taxes. What the CRA won A list of active ...

The CRA can tax your gains from Bitcoin trading. But you can avoid this tax by investing in BTC smartly and in a tax-efficient way.