I decided to come back to crypto market.
I was just wondering from where to purchase since RBC cancels some of the crypto purchase transactions.
I asked RBC for a Visa Debit card and purchase on Coinbase through that. They don’t allow credit cards but the Visa debit uses your checking account.
The purchase is instant which is nice.
There is no fee from RBC for the visa debit card.
Edit: I’ve been using this method over a year now to purchase crypto without any problems.
Hey Luch, I know this post is old, but I had the same question as OP. Curious if you are still tied to the 200/300$ per transaction limit on Coinbase using the Visa Debit as when using the RBC visa cards?
Most Canadian exchanges allow you to transfer funds to them via Interac money transfer (i.e.
Last time (few months ago) I used quadriga, rbc wont acknowledge my transaction. Is there a way to buy bitcoin with RBC nowadays?
Ask RBC to send you a visa debit card. There are no transaction fees and you could use it to purchase on coinbase.
Another option is e-transfers to shakepay.
RBC might hold your transfers to shakepay for security reasons so if you see a delay call RBC and tell them to put the transaction through.
I just tried my Visa debit on coinbase, it just got cancelled. Did you have to phone RBC yo authorize?
I’m currently using Shakepay! It’s working for RBC (2day ago), CIBC, (3? weeks ago) and TD (1 week ago)
Shakepay has great sentiments; Low fees and accepts etransfer and wires. I’ve only ever etransfered and it’s pretty quick, although not instant like when using interac online.
As the title says, if I can still buy crypto on Coinbase with my CC but can’t with Quadriga, how is that even possible?
This is NOT a sh*t post on Quadriga.
Only had positive experiences with them.
It’s god damn fuing RBC aholes.
How does a bank pull this shit, especially with a Canadian-run crypto exchange but let transactions happen on other exchanges? Wtf….
How are you still able to make purchases on Coinbase? Is it Visa or another CC? From RBC?
Also, Quad is the biggest so they’re the easiest to target and block. First by simply ending Interac Online support altogether or blocking them as a recipient for e-transfers. The smaller exchanges/places to buy cryptocurrency simply haven’t gotten the attention of the larger banks yet.
I asked a teller in an RBC branch 2 weeks ago if they know anything about crypto txns being blocked.
I have read that interact is disabled in quadriga.
Does wire transfer still work? Is there any other way besides going to a credit union?
You don’t need to switch banks. Interac Online payments have been disabled by some banks, including RBC.Sign up for bitbuy and use the Interac E-transfer. You can also wire transfer, but that takes longer (any exchange you use) because of how the banking systems work.
I think it really depends. Most people here have said they weren’t able to wire to QCX via RBC but in my experience it worked.
I am about to open a new account with RBC.
Just got off the phone where I said I wanted an interac online card for poker(my go for why I need interac online). They said they don’t let you use their cards for poker so I just admitted it was for bitcoin because I didn’t give my name yet. The lady was pretty receptive to cryptocurrency and said «yea that should be fine». From my understanding they may call you for your first online purchase for fraud reasons. Should I admit it’s for bitcoin because they will be able to figure out what it’s for through my transaction.
I opened an account with RBC 4 weeks ago strictly so I could get their Interac Online card for Bitcoin. Within those 3 weeks I have purchased 3000$ in BTC and 500$ in ETH and have had no issues.
The largest bank in Canada by market capitalization, Royal Bank of Canada (RBC), is reportedly opening a cryptocurrency exchange. Patents have been discovered that reveal some of the technology the RBC may implement, which could be used to bring digital currency trading to the bank’s 16 million clients.
Also read: Bankers Start to Recognize Bitcoin’s Role in Financial Evolution
** This post has been updated on 11/18/19 with recent commentary from an RBC representative.
A report stemming from the publication The Logic claims that the RBC is currently exploring the construction of a digital currency trading platform.
The Royal Bank of Canada (RBC) is not currently planning to build or launch a cryptocurrency exchange, CoinDesk has confirmed.
RBC spokesperson Ed Jones pushed back on recent media reports that Canada’s largest bank was exploring the development of a crypto exchange, telling CoinDesk via email on Monday that a number of recent patent applications filed by the bank do not indicate any intention to actually launch an exchange.
RBC is exploring building a cryptocurrency trading platform for investments, as well as in-store and online purchases, The Logic has learned.
The trading platform would facilitate the buying and selling of individual digital coins, including Bitcoin and Ether, as well as the transfer of funds combining different types of cryptocurrencies. The bank is also looking into letting customers open bank accounts containing cryptocurrency.
Four newly public patent applications reveal RBC is exploring the creation of a cryptocurrency trading platform for investments as well as in-store and online purchases. The bank is already using blockchain in some parts of its operations; in March 2018, it published a patent for blockchain-based credit scoring and in May 2019, the bank said it was using blockchain to verify client identities.
Canada’s largest bank, the Royal Bank of Canada (RBC), will likely deploy a cryptocurrency trading platform bearing many use-cases for its customers. Users will be able to buy and sell digital assets, including cryptocurrencies like Bitcoin (BTC) and Ether (ETH).
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The Royal Bank of Canada (RBC) is reportedly developing a cryptocurrency platform, The Logic reports.
If launched, the bank‘s customers will be able to trade in cryptocurrencies, including Bitcoin BTC and Ethereum.
The bank, one of the country’s largest, is also looking to let customers open cryptocurrency accounts.
According to The Block, one of the bank‘s patent applications says the following:
“To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge.