/biz/ - Business & Finance

how did you make this?

>>8034308
What do you mean?

Been working on it a few months with a few friends.

>clicking any links related to crypto
>downloading anything related to crypto

in 2018

>>8034348
You don't need to download anything.
You do need to click the link to see it though.

>2018
>so paranoid wont even open a link

In a few years you wont be even turning on your computer

Where are you located, OP?

>>8034377
Montreal

It's alright here, but I intend to move to Toronto

>>8034362
this is a guy

>>8034396
How's the crypto/start-up community in MTL? Been thinking of making my way over for a while.

>>8034362
how much for him

>>8034250
Are you accepting MC and VISA co-badged cards? That's the main problem in Canada. Quadriga also has some funds withdraw issues with banks boycotting crypto.

>>8034250
what's the founder/CEOs first name? I may know him

>>8034416
Truthfully not great. Great people exist here and it could be a huge but there's a serious banking problem.

Banks outright forbid opening business accounts for anything crypto related. That's why we are eyeing Toronto, that's where the rest of crypto startups are.

>>8034435
She(he) isn't for sale :^)
>>8034436
No but we will eventually, atm you can only connect your bank account and do EFT's, but you can currently buy and sell as much as you like if you are willing to use that payment method.
>>8034437
I don't want to divulge any names haha, but there is no CEO, the three founders just share all the responsibility and work, we also have a few devs.

>>8034441
We have a lot of legislative shit to slog through in the coming years. I'm curious to see how Trudeau chooses to proceed. He may be in favour of cryptos by matter of the appeal that he so desperately craves from millennials.

What's your job with CoinSave?

>>8034489
>three founders

ah okay fair enough, isn't the same company then, and i saw you mention Montreal above, guy im thinking of is in BC working on similar project

>>8034529
Admin/Strategy/Marketing?
Only posted here because I already browse /biz/ 24/7 for years now so why not.
And yeah I hope some legislation comes through, id be happy to comply with whatever they pass so we can fast track banking but Canada announced for 2018 they are making no legal changes to crypto, it helps there are no rules but bites us in the ass when it comes to banking..
>>8034542
Ah thats pretty cool, a lot of stuff is brewing ever since that huge bull run we had, im happy to hear more people are entering the arena, its lame with just coinsquare and quadrigacx dominating.

To be fair though quadriga is a great company

>>8034603
Wish I were in Montreal to meet up.

>>8034250
>Been working on a startup here in Canada that lets Canadians buy more than just 4 coins with their CAD.
are you retarded

>>8034603
there was another canadian one launched in december. einstein exchange. look at them for an example of what NOT to do. they had so many mad customers

>>8034641
Likewise, and that goes for anyone. If you're in the Montreal area let me know, id love to meet more people in crypto around here.
>>8034683
Quite possibly
>>8034715
Oh I remember seeing their site, it looked really nice but I heard they got a ton of bad press for something, never found out why. What did they do?

>>8034775
1)took too many signups KYC took forever
2)they took people's money first, and made then wait for KYC essentially locking it away
3)bunch of other technical issues

I live in Montreal. That's nice. By the way, you guys dont report to CRA right like Quad?

Also, if I ever make it, do you have withdrawl in cash if you know what I mean? likely we could meet or something......

>>8034849
Yeah that sounds annoying, on our site you're verified within two minutes, we aren't an exchange so our users don't financially interact meaning we don't have as many regulations. Taking money upfront is retarded.
>>8034860
No we don't its every users responsibility to report their earnings, no cash option exists currently but we think it will be possible in a few months if we roll out a cash by mail system like CIBC has.

bumping for coinsave! haha

>>8035777
OP?

>>8034250
How are you able to offer this service with no fees

>>8034250
Leave MTL if you have to, but there is nothing like shwartz's here. I dream about that smoked meat once a week...

>>8036008
We charge a fee, 2.88%
Coinbase is 4% in Canada though
And we plan to lower our fee every month till we hit about .5% if not lower
>>8036290
Agreed, I grab a fatty smoked meat there almost every month with a pickle, shwartz represent

>>8036540
What do you expect the fee to be in March?

>>8036540
>Coinbase is 4% in Canada though
Quadriga is 1% at the moment

>>8036705
To get money on there if not more, and .5 to trade so at least 1.5%
And they only offer 4-5 coins for all of Canada, we offer 10 at the moment and will offer 25 in the next 2 weeks, with the intention of dropping our fees going forward, we arent currently considerably better but we plan to be

>>8036787
Kraken has free deposits and 0.26% taker fee for the average buyer. You'll have to compete with them and aim for that level eventually

Also keep posting sluts

>>8036968
Kraken only offers BTC and ETH for CAD, were offering 10 and many more soon. They do have a cheaper price but like I said the intention is to drop fees every month.

I think our biggest sell point will be the fact we will have a crypto index and our 30 second account verification process.

Oh and will do.

>>8037043
When is the index coming out, how will it work?

>>8034250
Fuck I miss him.

Crypto person in Toronto into the nuts and bolts of it. The idea of going to meetups sounds like hell based on the average in person crypto person I meet. I am a small whatsapp group of people here that works for me.

I thought Quebec was going all in regarding crypto? Not criticizing since you've obviously deep in this, but how is Ontario going to be better than Quebec?

>>8036290
Fucking same.

>>8034250
>As seen in forbes, yahoo finance, cnbc, and on medium

My man. I do that with all of my startups - especially with the medium memes

>>8037271
To be fair when you click on the logo it redirects to an article from said place, we plan to swamp them for real articles as they come in.
>>8037225
Quebec is better for crypto but way worse for banking. At leats thats what I keep hearing.
>>8037131
Same, wish we still had 10k TFSA contribution room.
>>8037071
In the next 45 days. A payment will let you buy the top 10 coins instantly and it will rebalance monthly. We are aiming for an annual fee of .8%. If you bought a top 25 index last year it would be up 55x by now, thats what the stats show so im very excited to get it out there.

Anon, fellow Canadian here, from the GTHA.
When I see your fee's start to drop to 0.5%, I would consider utilizing your platform.
In the meantime, I am comfy with my Interac Debit on Quadriga for instant daily funding up to 4k. Plus, their platform has been around for ages which gives me piece of mind.
Also, you DO have to compete with Kraken.
As much as you may not want to think so, your exchange is competing in a small niche for putting CAD into crypto. Nobody will stick around your platform to trade on it, so who cares which coins you offer. Any Canadian with half a brain will look for the fiat on ramp with the cheapest deposit and withdrawal fees, proceed to buy something that is fast and cheap to transfer. like LTC for example, and send that to an exchange with proper sub 0.1% trading fees, and high liquidity.
Instead of think if you "could" make a Canadian exchange that offers tons of coins, and medium high fees, I think you should decide if you actually "should", before you put any more of your own money into this project.
Don't take this the wrong way, I am not trying to discourage a fellow entrepreneur, but I just don't see this market being profitable for the previously stated reasons.
It should also be noted that Kraken has been around for quite a while and never had security compromised. They do have a poor reputation with customer service, like any exchange scaling slowly, but if you are not able to offer better value to the consumer than them, people have no real reason to try and utilize your platform.

>>8037534
I agree with everything you've said and we do plan to drop to .5% without deposit or withdrawl fees, we can't do that immediately but I do think we will soon be doing something no one else does and that's the index. We will have a top 10 index, a top 25 and one that lets users pick their own coins.

Yes we are new and there's always anxiety over stuff like that but we can't do anything about that besides get better everyday.

Assuming this isn't a larp, I am based in Montreal.

Do you need funding. Are you guys serious?

>>8037660
>we can't do anything about that besides get better everyday.
I agree. Usually, in my experience, users are able to get over some trust concerns when they stand to gain a sufficient amount. And as I stated in my situation, I would say my criterion for considering to utilize other exchanges is when I can find one with a 0.5% fee with no withdrawal fees. I wish you the best of luck, if you can keep a sustainable business with the low fees and competitive fees. Perhaps I will put some money through your platform when it gets there.

Also, can you please explain:
>We will have a top 10 index, a top 25 and one that lets users pick their own coins.
I'm not sure I understand what you mean when you say that. Are you implying you will have prepackaged groups of coins similar to an index fund?

>>8037660
Do you have a burner email adress i can reach you on?

>>8037798
You can reach me at nick@coinsave.io
>>8037774
And yes an index fund that rebalances its holdings, mvis an index company bought bulk price history and calculated how an index would perform and its been one of the best performing assets in crypto.

If you spent $500 you would get $500 worth of the top 25 coins, you would be diversified easily and instantly.

And glad to hear you would use the platform, signup and you can get email updates with how we're progressing

>>8037534
What’s the name of the vid in the pic or where can I find it. It’s one of my faves and I haven’t been able to find it in awhile.

>>8037897
Cheers

I would buy an index in a heartbeat, what's the fee though?

>>8034250
1) Be careful, the banking system and the CRA will fuck you over.
Quadriga is currently being raped by banks (withdrawals are delayed, everything is flagged as fradulent and frozen etc)
2) Don't copy coinbase's interface so blatantly. They WILL sue you into the ground over this. Hire a graphic designer to pimp that shit.

>>8037897
That index does sound like a promising idea.
Are there any regulatory hurdles or compliance issues your team will have to overcome in order to offer that investment to consumers, since you will be actively managing the proportions of their investments?
Also, I would be interested in signing up for a newsletter that contains updates on the project if possible, but I do not want to do that through the platform as I do not want to release any personal information. Is this an option?
>>8037916
I apologize anon, I don't remember. Just reverse image search it.

>>8038045
Sound advice, we are creatively inspired atm haha but only cause none of us are designers, just backend, but we plan a big revamp visually in the next 2-3 months.

I agree banking is incredibly difficult but we have decent backing relationships for now, we will see how they last (thank you native americans)
>>8038014
.8% annually and likely .5% to buy every time is what were thinking
>>8038097
Currently there are no regulatory issues, weve spoken to the CRA multiple times, but anything can change

We dont currently have a newsletter option but its on the list, here hiring atm so out output should increase, were only a 7 man team atm and were focusing on backend, adding more coins, the index, etc.

>>8038149
Hey Op, without giving too much away, have you engaged with any specific banking entities in Canada yet?

I know for instance that TD is taking a particularly unfavourable position towards it's clients moving fiat into crypto.

>>8038283
>I know for instance that TD is taking a particularly unfavourable position towards it's clients moving fiat into crypto.
Can I ask where this sentiment has stemmed from? I have moved quite a bit of money from my TD account to both coinbase and Quadriga over the last 6 months. It was a large pain to get them to issue me an Interac Debit card, but once that was done, it only made things more convenient for me.
Does this have to do with the Credit Card purchases through Visa being halted?

>>8038283
We have a loose relationship, and three in talks.
>>8038359
TD is a large entity, some parts of it are against crypto, meanwhile another part of TD ran an ad on crypto during the superbowl haha

>>8038149
Can I get an emailed when the index is ready?

We have EZbtc here who sells quite a few alts, but the prices are outrageous. The problem with all Canadian exchanges is the mark up on BTC and other alts. It's so bad that I actually get more for my money by wire transferring to Bitstamp .... even with our shitty dollar value and wire fees.

>>8038436
You will have to make an account, like I stated earlier sadly we don't have a newsletter atm.
>>8038473
I don't even count them, the markup on prices is outrageous. We don't mark anything up and hopefully people pickup on other websites shady practices

>>8038359
>>8038422
In my experience, they are for client's investing so long as they can charge the fees related with withdrawing and depositing.

1.5% is about the lowest i've seen with the interac debit card, which by the way they have since refused to issue as of January 23rd.

>>8038571
>since refused to issue as of January 23rd.
Do you have a source on this I can take a look at?

yo wanna let me help u guys with ur website / advetising? (im from toronto)

>>8038643
No source, I took it upon myself to find out and the memo was issued on that day to all bank managers. the 13 digit cards issued prior to the new 16 digit cards used interac rather than Visa (which as you mentioned halted crypto transactions). Only a few branches knew how to issue this card, although I suspect I was told this in lieu of being outright turned away for inquiring. I was issued one (Although I have no money with TD) and that was sometime after the new year.

>>8038691
Sure, shoot me an email at nick@coinsave.io
>>8038707
Interesting, a lot of changes rarely have memos, usually just emails from corporate forwarded to bank managers

>>8038742
I've sent along a note, I hope you understand if it's from my personal (4chan burner) email atm.

Congrats on the initiative, If nothing comes from talks at least I'll have a place to buy indexes in Canada soon.

>>8038707
Fair enough.
It took me about 3 weeks, and 4 separate visits to the bank, and more research than I put into my capstone project to finally get one in late December. I documented all conversations with the bank, and plan to compile a summary on my YouTube channel for fellow Canadians.
As a start though, you can call the TD number on the back of your card, and ask to speak with someone from, "Digital Tech Department". They were able to help me transition my EasyWeb login to my new (old style) debit card so that I could make the online purchases. When I called and was transferred to them, they were well aware of Quadriga and said she helped many people with the same issues.

>>8038804
It's deliberate.

I'm happy to hear you've documented the experience, although from personal experience I can tell you the sentiment is there.

Cheers, i'm signing off for now.

>>8038824
Cheers. Just to add, from my experience. It was shearly a lack of experience/know how, and general ignorance from everyone at my very large branch with the exception of one woman who has been with TD for 42 years. She walked me through the whole process, listed to what I needed without asking too many questions and being nosey, and set me up.

>>8038742
Nick, I will send you a note as well with some inquiries.
-E

>>8038894
Where are you based anon?

didn't read the whole thread but checked out the site, this is basically a new exchange right? If so, make sure u have a decent api (or an API for that matter) to get lots of bots in it

>>8038930
About a 40 minute drive from Toronto.
I commute to Mississauga daily for work.

>>8038894
Looking forward to your email
>>8038934
We aren't an exchange, we act more as a brokerage that will eventually roll out a crypto index. An API is a good idea though.
>>8038780
Il be reading all my emails in the morning!

Signed up. Looking forward to more competition in the Canadian scene

>>8039042
No worries.

Is this your team's first venture by the way?

Based out of McGill/Concordia/UoM?

>>8039043
Thanks for the support! Exactly what we were thinking.
>>8039085
Yeah first venture, were self funding everything, didn't like the idea of raising money to "potentially" make something. And McGill/Concordia

>>8039193
I'm looking forward to talking!

>>8034441
bbbbnnnnnnnnnnnbbbbbbbrapppppppppp

LMAO
>not actually buying crypto w CAD
>buy our special coin that you then exchange for crypto

fuck right off

>>8034397
She's French. They are a little butch but you're a faggot.>>8034416