Bitcoin ETFs provide a way to invest in the largest cryptocurrency in the world without a crypto account or using a crypto exchange, and the ETFs can be purchased through tax-advantaged accounts such as Tax Free Savings Accounts (TFSA) or Registered Retirement Savings Plan (RRSP). This allows you to either not pay taxes on your Bitcoin profits (TSFA) or defer the taxes you pay on any gains until you start withdrawing from your RRSP.
What Bitcoin Is & Its Returns and Risk
Bitcoin is the largest cryptocurrency in the world in terms of market capitalization, according to coinmarketcap. Market capitalization is the price of the coin multiplied by the number of coins in circulation.
Bitcoin, unlike many other cryptocurrencies, has a finite supply. Only 21 million Bitcoins can be created. As of December 2023, there are 19.56 million in circulation.
Bitcoin is like a currency in that it can be used to buy goods or…
