While the US is still assessing the risks of launching a Bitcoin ETF and is in no hurry to approve the product, Canada is alreadymade a decision and demonstrated a progressive look at bitcoin and cryptocurrency in general.
Bitcoin ETF Target Debuts On Stock ExchangeToronto BTCC.U. The fund will buy bitcoins, which investors can buy in Canadian dollars or US dollars. Product price includes coins purchased at market price plus management fees and costs.
Permission applies to the followingterritories: British Columbia, Alberta, Saskatchewan, Yukon, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Labrador and Newfoundland, Northwest Territories, Manitoba and Nunavut.
In past interviews, the founder and CEO of Accelerate, which has already submitted an approved ETF approval application, spoke about the opportunities companies see in the new asset class:
«Bitcoin was one of the most effectiveasset classes over 1, 3, 5 and 10 years, both in absolute and risk-adjusted terms. Given Bitcoin's historical performance and future potential, we look forward to offering investors access to this asset class through an easy-to-use, low-cost ETF.
Notably, this is the second ETF approval inthe world this week. Bermuda previously approved Hashdex and the US stock exchange Nasdaq ETF, which will introduce the following cryptocurrencies to investors: Bitcoin, Ethereum, Bitcoin Cash, Stellar Lumens, Chainlink, and Litecoin.
In Canada, there are other applications for launching ETFs, the decision on them is at the stage of adoption, but after the approval of one, most likely, all others will also be agreed.
It looks like the bulls took control of the market after this news, as Bitcoin gained about 5%. Thanks to this, the price of BTC rose again above $47,000.
ETF approval in Canada is not the only positive development
Miami Mayor Francis Suarez announced that heBitcoin resolution approved. Now the mayor has permission to pay employees in BTC, as well as receive city fees and taxes in this cryptocurrency. Besides,the possibility of investing part of the city treasury in bitcoin is being considered.
Crypto community members expect that the example of their northern neighbor will have a positive impact on making a similar decision in the United States.
Where is it more profitable to buy bitcoin? TOP-5 crypto-exchanges
For a safe and convenient purchase of cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that supportDeposit and withdrawal of funds inrubles, hryvnias, dollars and euros.
The most reliable platforms with the largest cash turnover have been for several yearsthe largest cryptocurrency exchange in the world is Binance.Binance is the most popular crypto exchange in the CIS, as it hasmaximum trading volumes and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
| # | Cryptocurrency exchange | Official site | Site evaluation |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | OKEx | https://okex.com | 7.4 |
| 3 | Exmo | https://exmo.me | 6.9 |
| 5 | Huobi | https://huobi.com | 6.5 |
| 5 | Yobit | https://yobit.net | 6.3 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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