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The use of cryptocurrencies is legal in Canada, and this includes Bitcoin, altcoins and stable coins. The only snag is that it isn’t considered a legal tender like their fiat counterparts. The law in place is that virtual currencies are treated like money service businesses which are mostly for anti-money laundering provisions.

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While there is no clear-cut insurance protection for customers using Mogo’s services, efficient systems are in place to ensure the safety of your funds. There is a bank-type security and an identity fraud protection system. Also, 95% of your bitcoin assets are stashed away offline in cold storage, safe from cybercriminals. We also know that Mogo is a verified online platform with 1.6 million members.

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PaySimply is compatible with Android and iOS devices. Once the app is installed, you can select from an extensive list of payees to find each bill or company you need to pay. Are you a business owner needing business loans to move your business to the next level… No monthly or loading fees when you use the card and doesn’t affect your credit score. Mogo provides a range of financial products and services for Canadians.

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