There is a lot of talk about cryptocurrencies these days. I do not own any cryptocurrencies directly. I leave that to my sons. My oldest got into Bitcoin when it was under $10,000.00. He is the only person that I know personally, who has done well in direct Crypto investing. My youngest son spends a lot of time on YouTube and asked me last week to investigate XRP. He stopped by on his way home from work to see what I had come up with. He was just humoring me, as he already gone out and bought some.
CASH may have been KING in the past, but it has lots of competition these days. My research turned up some interesting Information. There are roughly 17,000 cryptocurrencies in existence with about 10,000 being considered active. Holy cow! And I thought that keeping track of the approximately 3,000 to 3,500 stocks on Canada’s main stock exchanges was tough.
The 10 most widely used cryptocurrencies in 2025 are Bitcoin, Ethereum, Tether, Binance Coin, Solana, XRP, USD Coin, Cardano, Dogecoin, and Tron. Many of the digital currencies have specialized uses and niche markets. Bitcoin is the most widely known and is considered a storage of Value, or “Digital Gold”. XRP is a Cross Border Payment currency, being embraced by many financial institutions. Most cryptos are based on some form of “Blockchain”. Blockchain is a digital ledger for recording linked transactions and not resident on one computer. This makes the data very secure and makes it nearly impossible to alter or delete. Blockchain removes the need for banks or auditors to verify the information. The data is encrypted, but anyone with access to the network can view (but not alter) the history of a transaction.
Owning crypto currencies directly comes with a few wrinkles. The following table compares direct ownership with ETFs:
| Feature | Holding Bitcoin Directly | Holding Bitcoin Via ETF in a TFSA/RRSP |
| Where you hold it | In a crypto wallet (hardware or software) | In your TFSA/RRSP account at a brokerage. |
| Canada Revenue Agency Rules | NOT Allowed in TFSA/RRSP (not a “qualified investment”) | Allowed since ETFs are listed securities |
| Security | You are responsible for protecting private keys | Brokerage + ETF custodian handles security |
| Tax Treatment | Gains are taxable in a regular account | Gains are tax-free inside TFSA (or tax-deferred in RRSP) |
| Ease of Access | Requires crypto exchange, wallet setup, and transfers | Simple stock purchase through brokerage |
| Volitility Exposure | Direct exposure to Bitcoin price | ETF tracks Bitcoin price, minus management fees |
| Costs | Exchange fees, wallet costs, possible network fees | ETF management fee (MER ~1%) |
| Ability to trade | 24/7 trading on crypto exchanges | Trades only during market hours on TSX |
| Ownership | You own actual Bitcoin | You own ETF units backed by Bitcoin holdings |
There are many stocks and ETFs on the TSX, Venture, and CSE that deal with different types of crypto coins and block chains. Some that I have experience with; own, or have owned, are: BIG Blockchain Intelligence (BIGG), Bitcoin Well (BTCW), Sol Strategies Inc (HODL), just to name a few.
One of the other big stores that goes along with crypto is the number of people who have been scammed out of their life’s savings. In my book there is no punishment sever enough for these animals. The worst part, I feel, is that the internet has made life simple for these sub humans. Example. I clicked on a story about a car crash (not real) in Toronto and the surprise that awaited First Responders. A briefcase full of cash. The next thing I know I am on a website called finotraze.ca and it was telling me that a $350.00 investment could net me $5,000.00 in less than a week trading Crypto. Well I am old enough to know that if it sounds too good to be true; it isn’t true.
FinoTraze IS A SCAM!!!!
Are there legitimate sites?? My research came up with the top 5 Legitimate Crypto Trading Platforms. Kraken, Coinbase, Binance, Gemini, and Crypto.com — all of which are regulated, widely used, and recognized for strong security and compliance. There are others. After 20 years of trading experience, the chances of turning $350.00 into $5,000.00 in less than a week is almost impossible. A real example of a quick rise is Ares Strategic Mining Inc (ARS) on the Canadian Securities Exchange. If you had of bought $350.00 worth of shares on Sept 10th 2025 you would have got just over 1500 shares. If you sold them at the peak on Oct 13th 2025 (about a month later) you would have made over $1200.00. Not a bad return for 30 days. That one is REAL. But NOT an every day occurrence. $350.00 to over $5,000.00 in less than a week? Too good to be real. If your not sure that a site is real, just ask Co pilot or Chat GPT? Much of the research here comes from Co pilot and Stockcharts.com.