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Coinbase Drops Support for Canadian Bitcoin Transactions August 1

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  • Coinbase Drops Support for Canadian Bitcoin Transactions August 1

    I received the following email from Coinbase - announcing they are no longer supporting Canadian Dollar to Bitcoin transactions.

    This is regrettable, they have an intuitive platform and a good mobile app.

    However, while I use a free coinbase wallet for a few small projects, I never set up my bank account and personal identification details to enable transfer of Canadian Dollar to their exchange.

    Instead, I have been buying bitcion and, more recently buying ethereum - with QuadrigaCX and really happy with their service and response time each time I've contacted them - they were patient and helpful even when I was obviously doing things wrong... You can find my review of the best (and worst) Canadian Bitcoin Exchanges

    Dear valued Coinbase customer,

    As of August 1, Coinbase’s Canadian payments provider, Vogogo, will be shutting down its payment processing business. When this occurs, Coinbase will no longer be able to support Canadian EFT transfers, Interac transfers, or the storage of customer CAD on Coinbase.

    All customer CAD stored with Coinbase MUST be withdrawn off site or converted to digital currency by July 29th.

    If you hold CAD in your Coinbase account, you must liquidate your CAD holdings before July 29th by either:

    creating a withdrawal to your linked bank account or
    exchanging stored CAD for digital currency.

    If you are unable to withdraw or exchange your CAD before July 29th, Coinbase will suspend your account and significant fees will be incurred for CAD withdrawals.

    We are disappointed to lose the ability to offer these payment methods for our Canadian customers and hope to provide additional payment methods in the future. We appreciate your support during this change.

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  • #2
    Was it the pressure of the banks here in Canada that caused this?