bitcoin vs gold which is better?
Buying Crypto

Bitcoin vs Gold: Which Is Better?

When it comes to deciding where to invest your money, the bitcoin vs gold debate comes up again and again.

I am 27 years old and my parents are 69 years old. They are from the Baby Boomer generation and I am a Millennial. There is a MASSIVE generational gap between us in terms of technology. Frankly, it is hard for me to imagine showing up to work without access to a computer!

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Support

HoneyBadger Comment on FTX / Alameda

We are writing this post in regards to the recent news about Alameda / FTX. HoneyBadger assures its customers that we have no relation to FTX whatsoever. 

This is because of HoneyBadger’s non-custodial business model. We do not store assets on behalf of our customers unless requested to do so. Any crypto you buy at our kiosks or online is sent and stored securely in our customers’ own wallets. They control their own assets and we have no access to it.

This serves as an opportunity to highlight the benefits of buying cryptocurrency from us rather than through an exchange. You buy coins from us and we send them to you. Simple.

All transactions completed with HoneyBadger are instant and we never leverage customer assets since we do not hold any. We assure you that any assets you buy from us will be readily available to you whenever you need them.

HoneyBadger firmly believes in the saying, “not your wallet, not your coins”. The company started in 2016 with one mission, to make cryptocurrency accessible to all Canadians. Once our customers buy it, they own it. 

If you have any questions or concerns, please feel free to contact us.

FINTRAC Money Services Business registration: click here.

 

 

 

 

 

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bitcoin for dummies
Education

Bitcoin for Dummies

Bitcoin can be confusing, largely because it is different from typical money and investments. In this Bitcoin for Dummies guide we break down the key things that you should know to trade safely.

What Is Bitcoin?

Bitcoin is a form of digital currency or cryptocurrency. It was created in the aftermath of the financial crisis in 2009. Its value fluctuates in the same manner that a public company’s stock price does.

While it isn’t the first cryptocurrency, it is the first decentralized crypto to reach widespread adoption and success. It remains the most valuable and popular crypto today.

The price tends to fluctuate more than the general market and, because it is traded 24/7, it is not subject to market opens and closes.

How Does Bitcoin Work?

Bitcoin is known as a decentralized currency with no central authority. In contrast, fiat currency, such as the US dollar or Euro, are controlled by the Federal Reserve and European Central Bank, respectively.

Cryptocurrencies utilize a blockchain, or a shared public ledger, to record and confirm all transactions between parties. Crypto is known as a peer-to-peer transaction network and can perform settlements between one party and another, or from one party to multiple other parties, at once.

If you remember torrenting music a few years ago, the blockchain works in a similar way. All transactions are confirmed by the computers, or “nodes,” on the network and ensure that all parties have the appropriate balance. To confirm a settlement, a majority of nodes must agree that the transaction is valid.

blockchain technology
Blockchain technology: a vast network of nodes. (Photo via Medium).

Parties complete transactions and store assets via digital wallets, which contain a private key that only the owner knows. These keys are used to sign transactions, providing a mathematical proof that the owner has given their authorization.

How Are Bitcoins Created?

Bitcoins are rewarded to computers that exert computational power to solve extremely complex mathematical functions. The difficulty of these functions increases over time as the supply decreases until all coins have been released.

Setting up a computer to solve these equations can be quite costly, especially in terms of the electricity. The act of generating new coins is called mining. In 2009, when the first coins were issued, it did not take much computational power to mine. Now, it may take years for a high-powered computer to be rewarded with a single Bitcoin.

It is set within the code that only 21 million coins will be created. It is estimated that the last one will be issued around the year 2140. The fixed supply is part of the general attraction, as opposed to USD.

A Bitcoin mine in Quebec, Canada. (Image via Christinne Muschi / Alamy).

Why Do People Want Bitcoin?

There are a few reasons why people want Bitcoin. It is not controlled by governments or banks, rather it is supported by a network of computers, which are composed of thousands of separate parties.

Those that hold and transact cryptocurrency can also do so anonymously. While transactions are recorded on a public ledger, the owners behind the wallet addresses are unknown unless you release that information.

Bitcoin’s value has also skyrocketed since its creation, surpassing the return with general markets like the S&P 500, bonds, Gold and in some cases, real estate.

Price of Bitcoin in CAD since its creation in 2009
Price of Bitcoin in CAD since its creation in 2009. (Source: Yahoo! Finance).

Why Does Bitcoin Have Value?

There are many things other than money that hold a fluctuating value like gold, diamonds and oil. The Micronesian Yap Islands once used large stones called rai as currency!

As long as another person is willing to exchange Bitcoin for goods or services, Bitcoin will hold value.

How Do I Get Bitcoin?

For starters, you can get Bitcoin here at HoneyBadger! You can purchase it via e-transfer, at one of our ATM locations or over the counter with a dedicated human account manager for large-volume trades.

You can also purchase Bitcoin from us on the exchange, then transfer it to your digital wallet to hold. If you do not have a digital wallet, we can hold your coins in our custodial wallet until you are ready for us to transfer it to you.

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Who is Bitcoin's founder? Is this Satoshi Nakamoto
Education

Who is Bitcoin’s Founder, Satoshi Nakamoto?

The Bitcoin Whitepaper

In the aftermath of the 2008 financial crisis, a thesis paper was published on bitcoin.org on October 31, 2008. The paper focused on an electronic cash payment system without the need for a financial institution. The paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ by Satoshi Nakamoto was a mere nine pages long but exceptionally detailed for a thesis paper.

Bitcoin whitepaper written by Satoshi Nakamoto
The nine-page Bitcoin whitepaper written by Satoshi Nakamoto (Source: bitcoin.org)

At a time when faith in the banking industry was at its depths, an idea for a transaction system was born “without relying on trust” as Satoshi stated.

First Bitcoin Transaction

Bitcoin’s Genesis Block was mined on January 3, 2009. A genesis block is the first block mined in a blockchain. Nine days later, the first Bitcoin transaction occurred at block 170 between Satoshi and Hal Finney.

Hal Finney was an American software developer and a strong advocate for cryptography.

Hal Finney with his wife, Fran Finney
Hal Finney with his wife, Fran Finney. (Source: braiins.com)

A month later, Satoshi posted the software to Bitcoin and his design paper on the P2P Foundation forum.

“I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper.”

Satoshi introducing Bitcoin on the P2P Foundation forum in 2009 (Source: p2pfoundation.ning.com)

Satoshi Nakamoto

The identity of Satoshi Nakamoto is still unknown. The name is a pseudonym and whether Satoshi was an individual or a group of individuals is not known.

The name Nakamoto is of Japanese origin and Satoshi’s forum profile claims they are from Japan, however, the whitepaper, along with forum posts on P2P Foundation, was written in fluent English. This suggests that the individual(s) is not likely to be Japanese but from an English speaking country.

In the first year of Bitcoin’s existence, Satoshi mined as much as 1.1 million Bitcoin, currently worth roughly CAD $29.5 billion at the time of this publication.

It has been over 11 years since Satoshi sent his final message on the forum. Satoshi urged WikiLeaks to not use Bitcoin to raise funds after major payment processors blocked donations to the organization.

The next day on December 12, 2010, Satoshi wrote, “There’s more work to do on DoS…,” specifically referring to potential denial-of-service attacks on the Bitcoin software.

In early 2011, Satoshi kept in communication with some of the initial users of Bitcoin via email. Former senior software engineer at Google, Mike Hearn asked Satoshi if he had planned on rejoining the blockchain community.

Satoshi replied to Hearn, “I’ve moved on to other things. It’s in good hands with Gavin and everyone.” Satoshi was referring to Gavin Andresen, an American software developer.

After sending their final message, Satoshi Nakamoto disappeared and their anonymity has remained intact to this day.

Who is bitcoin's founder Satoshi Nakamoto
A bronze statue paying tribute to Satoshi Nakamoto in Budapest, Hungary (Source: @Quicktake/Twitter)

The Hunt for Satoshi Nakamoto

In 2014, a man by the name of Dorian Satoshi Nakamoto surfaced. He is a Californian engineer who supposedly had never heard of Bitcoin until his son mentioned it to him. He has continuously denied the allegations that he is the creator of Bitcoin. It is likely that if Satoshi wanted to remain anonymous, they would have used a pseudonym, not their actual name.

On the other hand, Australian computer scientist Craig Wright has consistently claimed that he is Satoshi Nakamoto. Wright has even pursued legal actions revolving around his claims of founding the world’s largest cryptocurrency. Specifically he filed a copyright claim on the Bitcoin whitepaper and initial code.

Alleged Satoshi Nakamoto, Craig Wright
Alleged Satoshi Nakamoto, Craig Wright (Source: cointribune.com)

Nick Szabo has been linked to Satoshi Nakamoto since 2015. Szabo is a computer engineer, legal scholar and cryptographer.

He is known for his work on smart contracts and the founding of bit gold. Bit gold is perceived as the precursor to Bitcoin. Szabo has continuously denied being Satoshi.

Hal Finney may seem like an easy target, as he received the first Bitcoin transaction in 2009 from Satoshi Nakamoto. Finney was also one of the first to work on Bitcoin’s open-source code and coincidentally had lived in the same town as Dorian Nakamoto. That being said, Finney has shown evidence against being Satoshi through his Bitcoin wallet’s history and email correspondence with Satoshi. Finney passed away in 2014 from ALS.

Will Satoshi Resurface?

Given the market value of Bitcoin and its widespread adoption, Satoshi has certainly done a phenomenal job at concealing their identity. We may never know who is Bitcoin’s founder.

Part of the reason that makes Bitcoin so attractive to other cryptocurrencies and other forms of assets is its decentralized nature. Uncovering who may be the founder could likely lead to the decline of the cryptocurrency and the underlying philosophy of its origins as a peer-to-peer transaction system in the absence of any intermediary.

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Best Way to Buy Bitcoin in Canada
Buying Crypto, Education, Finance

What is the Best Way to Buy Bitcoin in Canada?

There are a lot of options when it comes to investing in cryptocurrency, but what is the best way to buy Bitcoin in Canada?

The good news is there are plenty of methods to choose from so there is something for everyone. Below we have outlined the pros and cons of 10 different ways to purchase crypto. We have also given each one a score out of five for the following categories: convenience, security, and value.

Read on to find out the best way to buy Bitcoin in Canada for you.

How can I buy Bitcoin in Canada?

The good thing about living in a relatively crypto-friendly country like Canada is there are lots of options to exchange fiat currency for Bitcoin and other cryptocurrencies like Litecoin and Ethereum.

The first decision you have to make is whether you want to trade online or in person at a physical location. That’s right, you can actually swap cold hard cash for cryptocurrency!

The next step is to choose a payment method. In a short space of time, trading platforms have expanded their ways to pay exponentially. While it may seem intimidating at first, don’t fear! We have compiled some of the most popular options out there to help you make up your mind.

Crypto gift cards

Crypto gift cards just like any gift card you might buy at a normal retail store. The main difference is you can’t buy goods and services with it. Instead, you can send someone a digital gift card with crypto assets from your own wallet or by buying a certain amount with fiat currency.

Pros:

  • Potential to increase in value: A crypto gift card is essentially a hot wallet, meaning it holds a certain amount of crypto on it. This means the value could increase if you hodl it.
  • Great gift idea: Whether you are looking for a present for a Bitcoin maximalist or someone who knows next to nothing about crypto, a gift card is a fun and easy gift idea. The recipient doesn’t even need a bank account. All they need is a crypto wallet.

Cons:

  • Lack of flexibility: Once you buy a gift card using fiat, you lock in your chosen coin. If the recipient is more into altcoins, for example, you’d probably be better off just sending them some cash.
  • Not secure: If a gift card gets lost in the mail, there’s not much you can do to retrieve your coins. Similarly, if it gets stolen, someone could easily extract the value for themselves. This is a lot riskier than simply sending it from your wallet.

Convenience: 3/5

Security: 1/5

Value: 3/5

Bitcoin ATM

Bitcoin ATMs, also known as Bitcoin kiosks or BTMs, enable you to exchange cash for BTC, Litecoin, Ethereum, or other cryptocurrencies in person. Although they are different from the machines you would find at a traditional bank, just like an ATM, you can deposit or withdraw cash. The main difference is you buy cryptocurrency when you deposit cash and you sell it when you make a withdrawal.

Bitcoin ATMs are a great option because they save a lot of the hassle of going through lengthy online sign up processes and they are one of the easiest methods to use.

Pros:

  • Simple to use: It doesn’t get much easier than inserting cash into a machine and instantly buying your cryptocurrency of choice. All you need is cash, a phone, and a digital wallet. This makes it a great way to explore the market without the hassle of creating an account with an online exchange.
  • Direct: There is no middleman at all if you buy from an ATM. It’s a direct transaction so there’s no waiting for funds to arrive from your bank or for an online exchange to approve your transaction.
  • Secure: Bitcoin ATM providers are regulated by FINTRAC. If you are unsure about whether the machine you are using is legit, you can search for the name of the company on FINTRAC’s registry for peace of mind your transaction will be secure.

Cons:

  • Must have cash: If you don’t happen to have cash on you, there are not a lot of options out there to buy at a machine. Fortunately, there are ways you can still transact without cash, such as via Interac® e-transfer.
  • Fees: one of the drawbacks of machines is that trading fees are usually higher than online exchanges. Of course this all depends on your personal preference and plenty of people prefer to use Bitcoin ATMs for the convenience and ease of use.

Convenience: 5/5

Security: 5/5

Value: 3/5

OTC Desk Locations

OTC, or over-the-counter, involves buying cryptocurrency via a broker, either in person or virtually. This option is ideal for investors looking for a personalized service.You speak directly to an account manager who provides advice and handles the trade for you.

The downside is you usually have to spend a certain amount to qualify, however, using private exchange services makes sense for large volume trades. 

Pros:

  • Personalized service: Having someone else place a trade on your behalf removes a lot of the stress involved in buying Bitcoin.
  • Expert advice: OTC brokers usually have experience when it comes to making trades. If you’re new to the world of cryptocurrency, expert advice can help maximize your investment.

Cons:

  • Fees: At the end of the day, you are paying for a service with OTC, and this is reflected in the slightly higher fees you pay.
  • Large volume: OTC is designed for people with large sums to invest in Bitcoin, meaning it is not suitable for the average customer.

Convenience: 5/5

Security: 5/5

Value: 3/5

Purchase Bitcoin direct from a seller

There are forums and posts on sites like Facebook Marketplace, Reddit, and Craigslist (That’s right! Remember Craigslist?) as well as niche sites where people will literally sell you Bitcoin. Of course, there are risks involved because you’re essentially buying from a stranger.

It is possible to find cheaper rates, but this method is more labour intensive than other alternatives. When you buy from a reputable company, you do not need to scour multiple websites for a cheaper deal, customers know exactly what to expect every time.

Pros:

  • Bargain deals: People who buy crypto this way are usually looking to squeeze every satoshi they can out of a deal. It is possible to find some great rates, especially if you find a motivated seller.

Cons:

  • Risky: Buyers take on a lot of risk when they buy directly from a seller online. Often there is no way of knowing if the seller will deliver what they promise.
  • Time consuming: Searching through page after page to find the best deal consumes a lot of time and effort.

Convenience: 1/5

Security: 1/5

Value: 3/5

INTERAC® e-Transfer

INTERAC® e-Transfer is arguably the best way to buy Bitcoin in Canada. It is as easy as sending money to a friend, it takes just a few minutes, and the fees are relatively low. Transactions are secure when you buy Bitcoin via e-Transfer from a reputable company and service is convenient and fast.

The sign up process is much shorter for e-transfer than it is for online crypto exchanges like Newton or Shakepay, which can take hours or even days to go through. Similarly, you don’t have to wait what seems like an age for a bank wire transfer to fund your account.

Pros:

  • Fast: Transactions are usually seamless and completed in a matter of minutes.
  • Secure: So long as you are buying from a trusted source, you can rely on the proven INTERAC® e-Transfer infrastructure, so you know your funds will be safe.
  • Simple: All you need to get started for transactions below $1,000 is a phone number and there are no extra hoops you have to jump through like there are for online exchanges.

Cons:

  • Limited transaction size: A downside to using e-Transfer is your bank will usually limit the amount you can send in one day. So long as you only plan to purchase Bitcoin below a few thousand Canadian dollars in value, however, this option is perfectly suitable.

Convenience: 5/5

Security: 5/5

Value: 3/5

Debit

Buying digital currencies with a debit card is a simple way to join the cryptocurrency world. It works just like making a standard purchase online. All you need to do is pick a trustworthy trading platform, sign up for an account and enter your card details.

The downside of debit transactions is that not all banks allow it and some operators will flag crypto purchases as fraudulent. This can lead to long, frustrating delays.

Pros:

  • Fast: Most exchanges can process transactions quickly.
  • Simple: The sign up process usually takes a few minutes, unlike online exchanges.

Cons:

  • Bank restrictions: Banks can sometimes get involved and prevent purchases from going through

Convenience: 3/5

Security: 5/5

Value: 3/5

Credit

You should tread carefully when buying crypto with a credit card. Customers should avoid making speculative purchases and only spend what they know they can pay back comfortably.

One of the key drawbacks of using a credit card is the fees. Banks usually charge more for purchases of cryptocurrency on credit because of the inherent risk the borrower might not be able to pay it back.

Having said that, if you’re responsible and know what you’re doing, buying Bitcoin with a credit card is as equally straightforward as using a debit card.

Pros:

  • Convenient: Just like debit transactions, the process is usually fast and simple.

Cons:

  • Fees: There are cheaper options out there that are just as fast and convenient.

Convenience: 3/5

Security: 5/5

Value: 1/5

Bank wire transfer

If the fees involved with using a credit card put you off and you have some time on your hands, bank wire transfers are a cheaper alternative. There are usually no bank fees involved in transferring money to fund your crypto account, however, whether you run into problems with your bank is another question.

Bank transfers can take days to go through, especially if you are a first time buyer. This can be annoying to say the least, especially if you miss out on an opportunity with a Bitcoin price fluctuation, for example.

Pros:

  • Free: Bank transfers to fund your account usually cost nothing.

Cons:

  • Time: Wires sometimes take a day or two to go through.

Convenience: 1/5

Security: 5/5

Value: 3/5

Apps

Some mobile apps, such as Wealth Simple, offer Bitcoin investment options. The apps are usually user-friendly and if you are familiar with how they work, funding your account is simple enough.

It is important to exercise caution when choosing which app to go with. Make sure the app allows you to send BTC to your crypto wallet. Some providers only allow you to keep funds in their custody wallet, meaning you do not have total control over your crypto asset.

Pros:

  • User-friendly: If you’re new to crypto, the apps will help to guide you through the whole process.

Cons:

  • Lack of control: Some apps only allow you to keep funds in their custody wallet.

Convenience: 2/5

Security: 3/5

Value: 3/5

Online exchanges

If you have looked into buying cryptocurrency at all you are bound to have come across online exchanges like Binance, Coinbase, and Kraken. These trading platforms are usually good for beginners and offer a wide range of altcoins in addition to the more established cryptocurrencies.

While they are a lot of people’s first step into the crypto universe, many people soon start looking for alternatives. Users are put off by lengthy sign up processes, privacy concerns, and poor customer service.

Pros:

  • Guidance: Most sign-up processes, while lengthy, are well designed and walk the user through step-by-step.

Cons:

  • Slow: If you are using an exchange for the first time, it can take a long time to get your account approved and funded.
  • Invasive: Some online exchanges require you to surrender a lot of information before you can start trading.

Convenience: 3/5

Security: 3/5

Value: 3/5

Conclusion

There is no shortage of methods you can use to buy Bitcoin. INTERAC® e-Transfer is the best way to buy Bitcoin in Canada from an overall perspective. It scored highest in our ratings and is generally fast, secure, and good value.

The ultimate deciding factor in what defines “best”, however, is you. That is the great thing about cryptocurrency today: with more ways to buy than ever before there is bound to be an option that fits your needs and level of knowledge.

Click here to buy using INTERAC® e-Transfer

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Finance, Startup

HoneyBadger Celebrates A Major Milestone

HONEYBADGER 100

We are over the moon!

HoneyBadger celebrates a major milestone with over 100+ Bitcoin ATM locations across Canada.

Thank you to all the great businesses that have worked with us – from the early adopters who were open to trying out our kiosk concept to the national retailers who aligned with our vision to provide cryptocurrency services in Canada.

Keep your eyes peeled – there will be 200 HoneyBadgers in the wild before you know it.

To infinity and beyond,

The HoneyBadger Team

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Finance, Startup

Canadian Cryptocurrency Regulations at HoneyBadger

Recent Changes at Our Kiosks:

To transact with a HoneyBadger kiosk, you will now need to provide a phone number that can receive a text message for all transactions under $1,000. For all transactions over $1,000, we will need Identification (preferably a driver’s license) to be provided. Customers are also now limited to buying or selling a total of $10,000 every 24 hours. For more detailed information, please continue reading.

FINTRAC Compliant

If you have been to a HoneyBadger kiosk this month, you will have noticed some changes. As of June 1st, all cryptocurrency dealers in Canada, HoneyBadger included, are defined as “dealers in virtual currency” and must report as much to the Government of Canada so we proactively registered as a “Money Services Business” with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC is the financial intelligence body of the Canadian Government. In simple terms this means that we are now regulated and legally recognized as a financial institution in Canada. This is a huge win for Bitcoin and cryptocurrencies in Canada to finally have regulatory clarity. This now legitimizes our industry and gives us the opportunity to build a faster, more functional and extra fearless Bitcoin business!

New Regulation, New Rules

New regulation comes with some new rules, which we must comply with. The biggest change going forward is that customers must identify themselves before each transaction. To identify yourself, you will need:

    • Phone number that can receive a text

    • A piece of government issued ID

    • Backup proof for your identification such as a hydro bill

Why do we need this? It is required by the Canadian Government to protect our financial system. Asking for this information assists in preventing money laundering. For more information, please see the Anti-Money Laundering (AML) and Know Your Client (KYC) directives.

This might seem like a big change as we previously did not require personal information to use our service. We are confident that after your initial registration this will supercharge the top-notch service all our fellow HoneyBadgers have come to expect. Quicker transactions, better information and communication and new features such as quicker crypto-selling is all coming now that we have these programs in place!

Information Requirements

    • $5.00 – $999.00 – Requires phone number

      • Receive text on your phone (2-Factor Authentication) to verify you at the machine

    • $1,000.00 – $10,000.00 – Requires phone number and identification

      • Receive text on your phone (2-Factor Authentication) to verify you are at the machine

      • ID only required on first transaction over $1,000.00

How to Register

Identification can be provided through our online portal. Any government-issued photo identification can be used at our kiosk such as;

    • Drivers License
    • Passport
    • Identification Card
    • Status Card

All IDs can be submitted online at:

If you are having trouble registering, please contact support. Alternative options include:

    • Sending a photo of your ID to us via email

Thank You!

Thank you in advance for adapting with us to the new regulatory environment in Canada. We at HoneyBadger are excited to get to know all of you, our amazing customers! Without you, we never would have made it this far. Here’s to continuing to build the most badass bitcoin experience in The Great White North!

Over and out,

The HoneyBadger Team

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Finance, Startup

HoneyBadger COVID-19 Response

Due to the increasing gravity of the covid-19 situation across Canada and the world, we at HoneyBadger would like to inform our valuable customers and partners what our kiosk availability will be.

We will be keeping as many of our machines on and running as possible.

However, due to the nature of our business, we do not have control over the locations our kiosks are located inside of. We are keeping in close contact with all of our partners to know which sites are open, have reduced/changed hours or have closed already.

We are recommending all of our customers check our partner location websites for open hours or closures.

They will have the most up-to-date information. For example: if you’d like to visit Grant Park Mall in Winnipeg, MB – please view https://www.grantparkshoppingcentre.com

We will make every effort to let you buy or sell cryptocurrencies during this time. Whether you’re buying the dip, would like to sell coins for cash as a backup for extended quarantine, or need a loan for cash using your bitcoin as collateral – HoneyBadger has your back.

Please visit www.badgercoin.com for a list of all our locations If you need any support, please reach us at:

www.badgercoin.com/contactus

 

If you’d like a cash loan, using your crypto as collateral please contact us at:

www.badgercoin.com/lending

 

As a final note — we would like all our customers to be confident using our machines. On every visit to a kiosk, we have a team of professionals clean down anything touchable at the kiosk with disinfectant wipes.

Stay safe out there, keep yourself clean and we can get through this together.

 

All the best,

HoneyBadger

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Finance, Startup

HoneyBadger Increases Canadian Footprint as Bitcoin Reaches an Unprecedented High

HoneyBadger Bitcoin ATMs provide fast, functional and fearless access to cryptocurrencies so Canadians can safely and securely empower their portfolio.

Bitcoin surpassed $23,000 USD for the first time ever and it’s continuing to surge. After weeks of trading around $19,000 USD – close to the previous all-time high in 2017 – Bitcoin’s moment to shine could not be contained as the cryptocurrency tripled its value this year. This revelation coincides with the news that One River Digital Asset Management investments have taken a massive $600 million USD position in Bitcoin, with commitments of up to $1 billion USD in Bitcoin and Ethereum by 2021.

As cryptocurrency has continued to grow in popularity, the team at HoneyBadger Inc. has followed suit with several new installations of Bitcoin kiosks across the country, providing effortless and secure access to this global monetary system. “We believe in making Bitcoin accessible to everyone,” explains General Manager, Mike Kitt. “As it becomes more mainstream, we want to ensure that people in all communities, not just large investors, have access to this system.” The company has been rapidly growing with over 125 kiosks and several more ready to launch in 2021.

After setting up a digital wallet – with as little as twenty dollars and a mobile phone – users can simply visit a local HoneyBadger kiosk to start buying and selling Bitcoin, Litecoin and Ethereum within minutes. Bitcoin allows users to store its value, make payments and exchange digital currency across the globe, and it’s not as complicated as some might think. “It’s a currency that works on the Internet. So, it enables people to send value or Bitcoin to other people. It’s a lot like an email, it works anywhere on earth and doesn’t matter where you are or what country you’re in,” as Kitt describes it. HoneyBadger ATMs provide a straightforward way for Bitcoin beginners to get started, and there is seemingly no better time to jump on the bandwagon. The continued rise follows a slew of other notable investors and major institutions publicly reporting large bitcoin purchases such as Paul Tudor Jones, Stan Drukenmiller, Square Inc., MicroStrategy, Mass Mutual and Grayscale Bitcoin Trust. As public companies continue to add Bitcoin to their balance sheet, it adds validity to Bitcoin becoming a strong alternative to fiat currencies, and proves that there is strong potential to ultimately evolve into the main form of currency. For questions about cryptocurrency, email HoneyBadger support staff or call (1) 604-787-1220.

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