Mogo is one of the leading and trusted digital financial platforms that offers Canadians a simple and straightforward way to buy and sell bitcoins. It has raised the bar on bitcoin trading with its fast, low-cost, and transparent process. The platform has over 1 million members who can easily access their Mogo account and transfer money from their bank accounts using Interac e-Transfer or wire transfer.
Summary: A great choice if you’re looking to spend through Mogo’s prepaid card to earn up to 2% cash back.
Deposits & Withdrawals
Markets & Products
Safe & Secure
|HQ||Vancouver, BC, Canada|
|Fees||1% on buy and sell|
|Account||Investment Account (Taxable)|
|Transfers||e-Transfer, Wire Transfer|
Bitcoin trading has increasingly become popular, and many people are looking to invest in a secure and straightforward platform. Mogo is determined to empower Canadians and help them improve their financial situation through bitcoin trading.
Creating an account with Mogo is simple, easy, and takes around 3 minutes to complete. You can signup through their website or mobile app, which is available on Android and iOS. You need to enter your full name, preferred email, and password. You also need to pass the identity verification. To become a member, you must be a Canadian resident. Once you create a Mogo account, you can get access to the bitcoin and rewards program.
You can fund your Mogo Bitcoin account using Interac e-Transfer or wire transfer. Funding your account is free and processed in as little as 30 mins. Once you have funded your account, you can proceed with buying bitcoin. The minimum deposit amount is $10, while the maximum is $1,000 0000 within 24 hours. Withdrawing money from your Mogo Bitcoin account is free.
If you are withdrawing for the first time, you will need to provide your bank details from a verified Canadian bank to process your transaction. Once the withdrawal process is verified, the funds are processed within 24 hours and credited to your bank account via Electronic Fund Transfer. The withdrawal minimum is $1, while the maximum is $9 000 within 24 hours.
Transferring bitcoin from Mogo’s wallet to another wallet isn’t allowed at this time. You will have to convert Canadian currency and transfer fiat currency back to your bank.
Coinsquare acts as the trading platform for Mogo Bitcoin & Rewards. Deposits and withdrawals are free, but there is a 1% trading fee when you buy or sell bitcoin. The best part with Mogo is that members can see the fees (full transparency), including trading fees on the buy/sell page before they authorize the transaction.
Mogo operates in Canada only, and Mogo Bitcoin can be accessed on the website or their mobile app. The mobile app can be accessed on iOS or Android phones, making it more convenient to trade and monitor your bitcoin investment in real-time from wherever you are.
Additionally, Mogo is the only company that is both Fintrac regulated and publicly traded on the TSX and NASDAQ.
The only cryptocurrency that Mogo offers is Bitcoin. However, Mogo might introduce more cryptocurrencies in the future.
Mogo has excellent customer support that is reliable, skilled, and knowledgeable. Also, you can reach them through the website, mail, telephone, or visit their offices. The customer support staff operates 24/7 and is readily available to address your questions anytime.
Mogo has a blog where they post content about personal finance, budgeting, cryptocurrency news, and general investing advice. They also send emails and push notifications with bitcoin market updates and price alerts. However, Mogo does not provide advice about when you should buy or sell bitcoin or if it’s right for you.
Mogo uses transport layer security technology to protect your data and uses security incident and event management (SIEM) technology to monitor unauthorized access to your data. Mogo members are also required to verify their identity when creating a Mogo account to prevent potential fraud from occurring on the platform.
Buying and selling bitcoin is risky, and Canadians need a reliable and trusted platform to trade. Mogo offers simple and secure management of your bitcoin. Additionally, if you’re looking to earn bitcoin cash back while you make purchases, their prepaid card could be a great option.