I have BTC and ETH that I have to transfer to Newton as Binance is banned in Ontario, Canada at the end of the year. What is the cheapest/best way to do this.
From what I understand, the cheapest way is converting BTC/ETH to XLM and then transferring to Newton but I’ve understood this is taxable as per CRA since it’s a trade.
How do I deal with the tax implications in this case? Is it still cheaper to just transfer directly and pay Binance their fees.
Or is their an alternative here
I’m posting because there are probably a fair number of people in Ontario that have made the same switch already after the Binance news so I’m hoping one of you guys has an answer for me.
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