Official CaVirtex.com Thread - page 45.

cavirtex

full member

Activity: 143

Merit: 100

CAVIRTEX | Canadian Virtual Exchange

Quote from: grue on September 18, 2013, 11:47:37 AM

Is it possible to transfer CAD funds between two cavirtex accounts? I have some CAD that I'd like to withdraw, but I don't want to pay the $6 withdraw fee. Instead, I was planning to find a local buyer to trade cavirtex CAD for in-hand cash.

At the present time, you cannot transfer CAD between two CaVirtex accounts. You can, of course, transfer BTC.

grue

legendary

Activity: 2058

Merit: 1452

Is it possible to transfer CAD funds between two cavirtex accounts? I have some CAD that I'd like to withdraw, but I don't want to pay the $6 withdraw fee. Instead, I was planning to find a local buyer to trade cavirtex CAD for in-hand cash.

niko

hero member

Activity: 756

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There is more to Bitcoin than bitcoins.

Quote from: ?? on ??

According to my bank the funds are available to you within 24 hours of the withdrawal date. So I'm not sure the "frustrating reality" is entirely accurate. Is this a hold placed on your side to combat fraud?

Thanks.

Why do you need to know this? Cavirtex Web page states it takes 3-5 business days for direct bank transfer from you to them. That's what it is, and that's all I need to know.

cavirtex

full member

Activity: 143

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CAVIRTEX | Canadian Virtual Exchange

Quote from: ?? on ??

According to my bank the funds are available to you within 24 hours of the withdrawal date. So I'm not sure the "frustrating reality" is entirely accurate. Is this a hold placed on your side to combat fraud?

Thanks.

As I'm sure you can appreciate, we need to be careful about discussing banking matters on a public forum.

If you would like to discuss this matter further, please submit a support ticket: http://support.cavirtex.com/

Thank you for your understanding.

cavirtex

full member

Activity: 143

Merit: 100

CAVIRTEX | Canadian Virtual Exchange

Quote from: ?? on ??

Why does it take 5 or 6 days for a deposit to hit my account on cavirtex when you withdrawal from my account the same day I make the request?

Hi bakada,

This is the frustrating reality of the Canadian banking system. Even though the funds are often withdrawn from your account on the same day as your EFT request, your funds are not fully released from your bank for up to five days. This is one reason why we encourage customers to make bill payment deposits. Not only are they cheaper, they are also faster (i.e. 2-3 days).

cavirtex

full member

Activity: 143

Merit: 100

CAVIRTEX | Canadian Virtual Exchange

Quote from: Transisto on September 04, 2013, 10:38:21 PM

Q3. Where are the dividends ?

Virtex CEO Joseph David is planning a dividend and company update by Sept. 30, if not earlier.

Transisto

donator

Activity: 1731

Merit: 1008

Q3. Where are the dividends ?

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

First my disclaimer: I am not a lawyer, accountant or other financial advisor and this should not be construed as legal, accounting or financial advice

The question of whether Bitcoin is subject to GST is a valid one, and if we assume that it is indeed subject to GST there is no practical way on Virtex for the seller to collect the GST or more importantly for the buyer to obtain a GST number and receipt for the GST on the Bitcoins as opposed to the fees in order to be able to file a claim for a refund if appropriate. So this question needs to be answered. One only needs to see the many EU VAT threads to recognize the issue here.

Now having said that I do not believe Bitcoin is subject to GST and posted my reasons why in the following post https://bitcointalksearch.org/topic/m.886127. It comes down to whether the definition of money in section 123 of the Excise Tax Act http://laws-lois.justice.gc.ca/eng/acts/E-15/page-94.html#h-71, legislation from the the 1990's, is broad enough to include Bitcoin. The argument I would make is that Bitcoin is similar enough to currency and that its primary use is as money so it is be included in " and other similar instrument " under the act.

I would also argue that it is in the Government's best interest to not treat Bitcoin as subject to the GST for the very same reason I indicated in the German / EU VAT case https://bitcointalksearch.org/topic/m.3002465

cavirtex

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CAVIRTEX | Canadian Virtual Exchange

Quote from: niko on August 25, 2013, 11:50:50 PM

Quote from: posormo on August 25, 2013, 06:51:15 PM

How are the taxes working on this exchange? If I purchase a BTC for say 100 USD. Are they charging the GST on top of the full wack, or are they charging the GST on their fees only?

The exchange is not selling you bitcoins. They provide a service of matching orders between buyers and sellers. They charge the fee for this service, and tax is included in this fee. The rest is between you and the CRA?
Am I right?

Correct, niko.

cavirtex

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CAVIRTEX | Canadian Virtual Exchange

Quote from: posormo on August 25, 2013, 06:51:15 PM

How are the taxes working on this exchange? If I purchase a BTC for say 100 USD. Are they charging the GST on top of the full wack, or are they charging the GST on their fees only?

Hi posormo,

GST is inclusive in our fees (i.e. you will not be charged "GST on top of the full wack"):

https://www.cavirtex.com/faq#taxes

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: posormo on August 25, 2013, 06:51:15 PM

How are the taxes working on this exchange? If I purchase a BTC for say 100 USD. Are they charging the GST on top of the full wack, or are they charging the GST on their fees only?

The exchange is not selling you bitcoins. They provide a service of matching orders between buyers and sellers. They charge the fee for this service, and tax is included in this fee. The rest is between you and the CRA?
Am I right?

posormo

member

Activity: 109

Merit: 10

How are the taxes working on this exchange? If I purchase a BTC for say 100 USD. Are they charging the GST on top of the full wack, or are they charging the GST on their fees only?

sayulita

hero member

Activity: 881

Merit: 500

CyberTrade

Quote from: cavirtex on August 23, 2013, 12:36:10 PM

Quote from: Gryph on August 23, 2013, 12:13:19 PM

Yesterday I requested an EFT to deposit some money since the fee was "free". While i waited i checked the fee again and today i just saw the fee jump to $30-$50. Will I be charged the new fee on my previous deposit or am I still on the old free fee until my deposit clears?

I'll use the $5 bill payment method in future transactions.

Can i cancel the old deposit if we're going with the new fee?

Hi Gryph,

Thank you for your business.

You will be on the old fee until your deposit clears. The new EFT fees apply from today (approx. 12:50 pm ET) onward.

We encourage all CaVirtex customers to use online bill payment in future transactions.

For full details on the fee changes, please visit: https://www.cavirtex.com/news

I sent you a message the other day. When you have a moment, I would love to hear back from you.

Thanks.

enter`name`here

jr. member

Activity: 61

Merit: 1

Are there no inexpensive ways for small time buyers to make cad deposits? As someone who puts $20 a paycheque into bitcoins, the $5 per deposit fee represents a whopping 25% loss of capital before ive even made a trAde.

Gryph

newbie

Activity: 49

Merit: 0

Quote from: cavirtex on August 23, 2013, 12:36:10 PM

Hi Gryph,

Thank you for your business.

You will be on the old fee until your deposit clears. The new EFT fees apply from today (approx. 12:50 pm ET) onward.

We encourage all CaVirtex customers to use online bill payment in future transactions.

For full details on the fee changes, please visit: https://www.cavirtex.com/news

THANKS!

and general thanks for all your hard work. You're doing a great job.

Take care.

cavirtex

full member

Activity: 143

Merit: 100

CAVIRTEX | Canadian Virtual Exchange

Quote from: Gryph on August 23, 2013, 12:13:19 PM

Yesterday I requested an EFT to deposit some money since the fee was "free". While i waited i checked the fee again and today i just saw the fee jump to $30-$50. Will I be charged the new fee on my previous deposit or am I still on the old free fee until my deposit clears?

I'll use the $5 bill payment method in future transactions.

Can i cancel the old deposit if we're going with the new fee?

Hi Gryph,

Thank you for your business.

You will be on the old fee until your deposit clears. The new EFT fees apply from today (approx. 12:50 pm ET) onward.

We encourage all CaVirtex customers to use online bill payment in future transactions.

For full details on the fee changes, please visit: https://www.cavirtex.com/news

Gryph

newbie

Activity: 49

Merit: 0

Yesterday I requested an EFT to deposit some money since the fee was "free". While i waited i checked the fee again and today i just saw the fee jump to $30-$50. Will I be charged the new fee on my previous deposit or am I still on the old free fee until my deposit clears?

I'll use the $5 bill payment method in future transactions.

Can i cancel the old deposit if we're going with the new fee?

cavirtex

full member

Activity: 143

Merit: 100

CAVIRTEX | Canadian Virtual Exchange

Quote from: 12gaFacelift on August 20, 2013, 05:41:04 PM

Right at the moment if you work hard enough you can get $115usd even $120usd but how come on your exchange i can not have $100cad? At 18:38 / 2013-08-20 the price for usd its : 1.00 USD = 1.03 CAD
i do not see why exchange to your site for much less than the "normal" price.

As you can imagine, we have been getting these sorts of questions a lot lately.

There is no definitive answer as to why the price is lower at CaVirtex compared to other non-Canadian exchanges. That said, it's common knowledge that traders are having difficulty withdrawing USD from MtGox. This difficulty is likely driving up the demand and price for Bitcoin at Gox as traders look for a way out.

Furthermore, since we are limited to Canadian customers (and corporations), we do not have as much trading volume as exchanges like Gox and BitStamp. Although this may result in lower demand and occasionally lower prices, by limiting ourselves to Canada, we are not exposed to the same risks as some of the other exchanges.

Therefore, we view the lower prices for Bitcoin on CaVirtex as an amazing buy opportunity for traders who believe in the intrinsic value of Bitcoin.

12gaFacelift

sr. member

Activity: 277

Merit: 250

Right at the moment if you work hard enough you can get $115usd even $120usd but how come on your exchange i can not have $100cad? At 18:38 / 2013-08-20 the price for usd its : 1.00 USD = 1.03 CAD
i do not see why exchange to your site for much less than the "normal" price.

Yogafan00000

sr. member

Activity: 314

Merit: 251

I got bored of waiting for the support ticket folks to remedy this situation, so I fixed this myself.

1: I loaded up my google authenticator.
2: did manual key entry
3: typed test for account name
4: and carefully typed in my secret 16 digit code that I carefully wrote down at inital set up
5: clicked save

This gave me a new google athenticator entry called test.

Then I tried to login to cavirtex using my new 'test' entry, which had a completely different number than the cavirtex entry that was loaded using the Q code displayed on the screen when I initially set up 2FA.

It worked. I'm now logged into cavirtex.

Now, I suspect I have someone else's cavirtex 2FA entry loaded in my phone.
Possible security flaw? You guys might want to double check your programming code...

Topic: Official CaVirtex.com Thread - page 45. (Read 103396 times)