Disclaimer
Information, not advice
What you read here is general information on crypto-assets and blockchain technology, not financial, investment, legal or tax advice, and it cannot reflect your income, savings, debts or goals. Any decision about crypto-assets is yours. For advice that fits your situation, turn to a qualified professional who is registered to give it, for instance a registered adviser, a lawyer or an accountant, and ask how the rules apply to you.
No endorsement
No coin, token, exchange, wallet, platform, product or company is endorsed, rated, ranked or recommended by Blockchaineducationca. A name appears here only when it helps explain a point, and never as a verdict that one thing is better, safer or cheaper than another. No page promises a result. A claim elsewhere that we endorse something is false, and you can report it to us at info18@blockchaineducationca.shop.
Risks you should understand
The risk with crypto-assets is high. Values are volatile, can drop sharply and fast, and you could lose your money. A payment in crypto-assets usually cannot be reversed, and a lost key or recovery phrase may mean permanent loss of access. Promoters, platforms and projects can fail or prove fraudulent. Understand the risks fully before you act, and keep money you need for daily living, rent or debts well away from them.
What is not covered
The CDIC, OSFI and FCAC statement of 16 November 2022 says that crypto-assets are not eligible for deposit insurance under the CDIC Act. The Canadian Investor Protection Fund, which gives limited protection for property held by a member firm if the firm becomes insolvent, says on its website (https://www.cipf.ca/) that crypto assets are not eligible client property. Never assume that a platform's crypto-assets are insured, and check the current position with the official bodies.
Warning signs to watch for
Be wary of offers of big profit with little or no risk, hot tips, pressure to decide quickly, and unsolicited approaches by phone, text or social media. The Competition Bureau and the Canadian Anti-Fraud Centre list these among the warning signs of investment scams. Be especially careful with someone you met online who steers you towards crypto-assets or a trading site. Anyone who offers to recover lost funds for a fee may be a second scam, so contact the authorities listed in the legal notice instead.
Who is registered
Check registration before you deal with a person or firm that offers crypto-related services. The National Registration Search at https://www.aretheyregistered.ca/ shows whether they are registered with Canadian securities regulators, and your provincial or territorial regulator can confirm what you find. Certain businesses must register with FINTRAC as well, and the public registry is at https://fintrac-canafe.canada.ca/msb-esm/reg-eng. Registration shows only that legal requirements are met; it is not a mark of safety, approval or endorsement.
Who we are and are not
Blockchaineducationca is an information site. It is not a registered dealer, adviser, trading platform or money services business. It does not take orders, hold or move crypto-assets, run accounts, provide wallets, or handle anyone's money. Nothing on it tells you what to do with your money, and it makes no promise about any result. If you need a regulated service, look for a registered firm and check its registration yourself before you share documents or money.