1) What are Crypto-currencies ?
There is a comprehensive guide on Wikipedia, so rather than repeating it, the link is HERE.
2) Are they legal ?
Yes, it is perfectly legitimate to buy, sell, trade & exchange crypto-currencies for other currencies, or products & services
3) What are the regulations ?
Canada has brought in legislation regarding crypto-currencies meaning that exchanges to/from other currencies are to be regulated the same as any other foreign currency exchange. This means there will be certain ID requirements before transactions can take place. As of June 2017, this legislation is not yet in force, and there is currently no timetable for when this will take place.
4) Do I need ID to trade crypto-currencies ?
Like most dealers, we require ID prior to conducting any transactions involving crypto-currencies. If you come into our store, you just need 1 piece of Photo ID. If you wish to order by phone or online, you must send a copy of Photo ID plus a Proof of Address by email. You will only need to sumbit your ID once, then your account will be validated and you will be free to trade !
In store verification
1 piece of valid, unexpired Photo ID
1 piece of valid, unexpired Photo ID
1 Proof of Address, from last 3 months.
5) What forms of ID are acceptable ?
|Photo ID||Proof of Address|
|Drivers License||Bank Statement|
|Passport||Credit Card Statement|
|Firearms License||Property Tax Bill|
|Permanent Residence Card||Water / Sewer Bill|
|Provincial ID Card||Power Bill|
|Phone / Internet / TV Bill|
6) Can I buy / sell crypto-currencies the same as gold and silver ?
Broadly the answer is yes, however, there are a few differences listed below...
7) Can you send my crypto-currency to my wallet ?
Yes. Please make sure your wallet ID is correct in your account details, as this is what we will use to send your crypto-currency. Once sent, transactions are irreversable. for larger orders, we may send a small amount first to confirm the details. We send out crypto-currencies after 5pm local time each day.
8) Is my crypto-currency in your Vault accounts secure ?
Yes, we use "Offline Cold Storage" for the majority of our crypto-currency. Whilst we keep a small balance at the exchange for daily trading, we keep the majority in a wallet that is secured using cryptographic keys known only to us. These are stored on a dedicated hardware device which is stored in our safes with our precious metals. It is not connected to any computers, or the internet, and even when connected to validate a transaction, the keys never leave the device. Backup security codes are also kept in other secure physical locations.
9) Are there any commissions or fees ?
The price you see is the price you pay, inclusive of all exchange fees, commisions and brokerage. However, if we send bitcoin to your wallet, then the bitcoin network will take a commission deducted from the bitcoin transfer, so you will receive slightly less than we send. This varies depending on the amount of bitcoin transactions being processed worldwide at the time, but is typically equivalent to $5-$10 depending on how busy the network is.
10) How do I sell my Bitcoin/Ethereum/Litecoin ?
If you have your crypto-currencies in our Vault Account, you can just phone your sell order, or do it in person in our stores. We can pay out by any of the usual methods (Cash, Cheque, Email Money Transfer etc)
If you have crypto-currencies in your own wallet, you need to send them to us first. Once they are confirmed received, we will call you to lock in the price and sell them.
To get an address to send your crypto-currencies to us...
Please allow approximately 1 hour from sending your crypto-currency for enough confirmations before we can confirm receipt.
11) Bitcoin Gold.
On 24th October, some developers split from the main Bitcoin blockchain, effectively starting a new bitcoin variant. This is generally referred to as Bitcoin Gold. In theory, everyone who owned bitcoin before the split now owns an equal amount of Bitcoin Gold. However in practice, the blockchain for Bitcoin Gold is currently not supported by the majority of hardware wallet providers and many exchanges. There are also practical problems with the implementation of Bitcoin Gold in that if someone sends Bitcoin Gold, they are vulnerable to also losing an equal amount of their bitcoin (there is no 'Replay' protection) This means that until such time as hardware wallet developers and exchanges can support Bitcoin Gold without risk of losing bitcoins, then we are unable to support it or trade it. Should Bitcoin Gold become supported by hardware wallet providers, then at that point we will be able to credit clients accounts with Bitcoin Gold. However we have not been give any timeframe as to when that may happen.
Due to the constant growth and change in the crypto-currency space, the operation of buying and selling is not without its challenges. Problems can and will arise. As such we have the following Terms Of Service when dealing wih crypto-currencies.
By using The Atlantic Gold and Silver Centre, accessing the website, or using any service provided by The Atlantic Gold and Silver Centre, you agree to the following terms of service. Continued use of the The Atlantic Gold and Silver Centre website demonstrates that you agree with our terms of service.
Throughout the following terms of service, The Atlantic Gold and Silver Centre may be referred to as "us", "our", "we", and "the website".Users of The Atlantic Gold and Silver Centre include but are not limited to registered members, as well as any visitor who uses the website in any way, shape or form. The term cryptocurrency may be used to describe any form of digital currency, including but not limited to Bitcoin and Ethereum.
By opening an account or accessing the The Atlantic Gold and Silver Centre Website, you agree to the following terms:
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