The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Getting paid in bitcoin: What you need to know
– moneysense.ca
Would you want to be paid in bitcoin? As bitcoin and other cryptocurrencies become more mainstream, your employer might one day give you the option. And if you’re self-employed, you might consider taking payments in crypto—if you can stomach its volatility. Younger generations, in particular, are open to the idea: According to a November 2021 survey by deVere Group, more than a third of millennials and half of Gen Z “would be happy to receive 50% of their salary in bitcoin and/or other cryptocurrencies.”
Adam Charbonneau, owner of AJ’s Plumbing & Heating in the northern Ontario town of Iroquois Falls, has been allowing clients to pay him with bitcoin since May 2021. “I have a strong feeling crypto will take over our finance system as we know it,” he says. “And it’s another option for payment for my customers. It’s fast and secure. I personally prefer that to getting a cheque.”
Charbonneau also likes that bitcoin transactions can be much larger than e-transfers from banks, whose limits range from $3,000 to $5,000 in a 24-hour period…
