Bitcoin is a cryptocurrency invented in 2008. The currency began use in 2009 when its implementation was released as open-source software.
Bitcoin sure increased in price greatly in 2020 and 2021. For several years, Bitcoin was at around $10,000 in 2018 and 2019.
Bitcoin Price at April 7, 2021: 56,675 USD
So far this year (2021), volumes in bitcoin have been considerably higher than other years.
It seems that in the short term, fluctuations of Bitcoin will happen. The long-term prospects seem to be very good for this investment. It will be interesting to see the price of Bitcoin in the future.
It is indeed possible to buy Bitcoin with E transfer. You could open an account on one of the exchanges supporting Interac e Transfer. You could fund your account with an e transfer.
Canada allows the use of digital currencies, including cryptocurrencies. However, cryptocurrencies are not considered “technically” legal tender in Canada. Canada’s tax laws and rules, including the Income Tax Act, also apply to cryptocurrency transactions. Check for updates about Canada Bitcoin rules.
As of February 2020, Bitcoin was legal in the USA, Japan, the UK, and most other developed countries. Even where Bitcoin is legal, most of the laws that apply to other assets also apply to Bitcoin. Keep in mind, the tax laws that have to be followed.
Be careful about Bitcoin. Keep in mind, Singapore has warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.
“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a certain parliamentary question. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”