Cryptocurrency Q&A
Can I buy Bitcoin through my TFSA?
Can I buy Bitcoin through my TFSA?
KDramaLegendaryStarlight
Tue Dec 17 2024
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7 answers
1694
I'm wondering if it's possible to purchase Bitcoin using funds from my Tax-Free Savings Account (TFSA). I want to know if this is a viable option for investing in cryptocurrency while potentially benefiting from tax advantages.
7 answers
Alessandra
Thu Dec 19 2024
Tax benefits are associated with certain aspects of cryptocurrency investments.
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SamuraiBrave
Thu Dec 19 2024
Cryptocurrency itself cannot be held in registered accounts like Tax-Free Savings Accounts (TFSA) or Registered Retirement Savings Plans (RRSP).
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DongdaemunTrendsetterStyle
Thu Dec 19 2024
As a result, any capital gains derived from cryptocurrency investments are subject to taxation.
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Valentino
Wed Dec 18 2024
On the other hand, cryptocurrency Exchange Traded Funds (ETFs) are eligible for registration in these accounts.
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HanbokGlamour
Wed Dec 18 2024
By investing in crypto ETFs through registered accounts, investors can enjoy tax advantages.
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