Entering a large position in CAD?

[Vacek_aka_Luschka]

If a fellow wanted to purchase 20k-50k of BTC, and was starting out with CAD .... whats the best approach?

QuadrigaCX price is HIGH, Coinsquare? Coinbase has 1k limit. Kraken doesn't except CAD at the moment (and CAD prices are best there)

Suggestions ???

Whats the fastest, and cheapest way to pull this off?

Edited July 9, 2018 by Luschka

[legomaracas]

@Mercury posted on kraken cad deposits. If you can wait...it’s supposed to be coming back online...unsure as to timeline though. 

It’s not allowing me to quote the post...so I’m copying and pasting it here. It’s from June 27th, Topic: kraken to allow Canadian domestic deposits 

 

Hi Mercury,

While Canada residents can withdraw CAD from their accounts by convenient domestic transfers, deposits have been made by international wire to our partner bank in Japan. We are pleased to announce that we will soon launch a much better domestic option for depositing CAD!

The transition to the new domestic deposit option will start on June 25 - clients should not send CAD deposits to Japan after 5 pm PST on Monday June 25 since they must arrive in Japan no later than June 29 (they will be returned if they arrive after this date).

# Possible interruption in deposit service
Our Japan bank partner will no longer accept CAD wires after June 29 (but will continue to process other types of payments for us). The new bank integration for domestic CAD deposits is still being finalized and this process may not be completed by June 29. Canada residents should be aware of a possible interruption in deposit service after June 29. Instructions for the new deposit option will be available in your Kraken account as soon as the service is ready.

# Will withdrawals be affected?
No - Withdrawals are processed through a different payment provider and will not be affected.

Thank you for choosing Kraken, the trusted and secure digital assets exchange

The Kraken Team

[legomaracas]

I’m using coinsquare for now....there are limits on the first 3 transfers and they withhold deposits. So I don’t think it is as fast....if you’re now signing up. 

[Vacek_aka_Luschka]

Thanks.

Kraken sent me the EXACT same email when I asked them

Any issues with Coinsquare? How has the BTC pricing been ? They offered to waive the holding time for me on a large deposit, so that will help.

[Mercury]

Coinsquare has high fees and some hoops to go through BUT they do have a high wealth management services and account managers that should help

[rogo]

On 7/9/2018 at 5:44 AM, Luschka said:

If a fellow wanted to purchase 20k-50k of BTC, and was starting out with CAD .... whats the best approach?

QuadrigaCX price is HIGH, Coinsquare? Coinbase has 1k limit. Kraken doesn't except CAD at the moment (and CAD prices are best there)

Suggestions ???

Whats the fastest, and cheapest way to pull this off?

Hey,  I'm a fellow canadian and would love to understand.  Why is it so hard to buy that amount of BTC in Canada?

[Mercury]

On 7/16/2018 at 4:45 PM, rogo said:

Hey,  I'm a fellow canadian and would love to understand.  Why is it so hard to buy that amount of BTC in Canada?

Mostly due to fees and deposit limits. The amount either has to be accumulated over time using several direct deposit (ie. interac online) with each adding a cost. There are several bespoke wealth management for high value accounts, but unless you dealing in the hundreds of thousands these options tend to be unworkable for most.