Frequently Asked Questions

BitVinci is a Canadian owned and operated digital currency platform providing easy and secure access to Bitcoin and other digital currencies.

BitVinci offers the lowest market price and simplest way in Canada for users looking to purchase Bitcoin and other digital currency. For customers looking for large amounts of digital currency, our OTC desk offers competitive rates and personal 1-on-1 service

We offer the lowest market rates without hidden spreads or fees. All our fees can be found here.

BitVinci follows guidelines and regulations set forth by the Canadian government. We are a federally regulated company, approved money services business license, fintrac registered and follow PIPEDA, AML, KYC guidelines.

You can get instantly verified by reaching out to one of our executive traders or sign up online in a few easy clicks.

This can be done quickly through wire or electronic transfer. Your cryptocurrency sent will be sent when your wire or ETF has been received.

Yes. The only difference is the information needed to verify and open the account.

Processing time to get verified is same day, funding methods ETF 30-45min, wires can be same day or next day depending on bank and time, cyrptocurrency transfer is within minutes depending on the network congestion.

Yes. At our OTC desk we will assign your account with a dedicated trader to help set everything upon you requests and guide you every step of the way.

We accept CAD, USD and RMB. However, we are always open to working with our clients to accept any currency, cryptocurrency and precious metals such as gold and silver.

BinVinci is able to source most cryptocurrencies on the market. 99% of the time we are able to accommodate and work with our clients to fill their orders quickly and efficiently.

General Crytpocurrency FAQs

Bitcoin is a digital currency, that does not have a central bank or a single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties. The blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain).

You will first need to download a wallet first.

Then set up and log into your wallet with your password, and any two-factor authentication that you have enabled. Your Address is a string of random letters and numbers that acts as a account number. Your wallet and wallet address will be used to send and receive cryptocurrency.

Sending & Receiving

To send funds from your wallet, you need the recipient’s receive address or QR code.

To request, you can share your address or QR code with the sender. Note: your bitcoin and bitcoin cash address will change each time you request but your other address will stay the same.

Using Your Transaction Feed

Your wallet screen will display your most recent transactions, and you can find your full transaction feed by clicking on the corresponding asset in your wallet’s menu.

The Mycelium cryptocurrency wallet is one of the oldest and most popular Bitcoin wallets available exclusively for mobile platforms released in 2013. Open source, multiple types of accounts, integrated marketplace, only for bitcoin and there is no desktop version.

Exodus is a multi-currency, cross-platform crypto wallet that is a strong option for anyone just getting into the crypto space. Over one hundred cryptocurrencies, intuitive interface, supports all platforms, updated every two weeks however is not fully open source.

MyEtherWallet is considered a highly flexible user interface to access the Ethereum blockchain network and compatible with other wallets such as Trezor. Free service, Open-source, clear, easy to understand ‘how-to’ videos, over stores sensitive data on the MyEtherWallet servers, support for offline cold storage transactions

The Trezor Model T is one of the safest hardware wallets available its open-source, color touchscreen, easy to set up and use, supports over 1600 coins.

Remember that you are solely responsible for your own security, as no third party is involved, being a decentralized system. Always be sure to use only official sellers or websites to buy or use these wallet.

Most important is storing your private keys offline is a safe place. Never give these to out, if ANYONE is asking you for them do not fall victim as they are able to access and steal your coins. They are used to restore your wallet and balance if anything happens to your devices or you forgot you password etc.

Always make sure to make backs up stores safely, on a usb for example. keep a strong password and enable 2FA, keep multiple wallets and ensure you device is protect as well.

A non-fungible token (NFT) is a piece of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item and is not interchangeable. NFTs can represent digital files such as art, audio, videos, items in video games, and other forms of creative work. The NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership. Access to any copy of the original file, however, is not restricted to the owner of the token.

DeFi is short for “decentralized finance,” an term for a variety of financial applications in cryptocurrency and on the blockchain. It expands the use of blockchain from value transfer to more complex financial use cases. Some popular products are stable coins, decentralized exchanges, lending platforms, wrapped coins ad prediction markets. This has lead to the spin off of new concepts gaining a lot of traction in such as yield farming and liquidity mining.

Call Now Button