• Last Updated:
  • Dec 30th, 2017 10:01 am
[OP]
Newbie
Jun 19, 2017
44 posts
5 upvotes

Small Business - bitcoin?

I was signing up at Quadriga for a personal account and noticed they have the ability to create a small business account.

Is anyone doing using their business to invest in AltCoins? I'm wondering if it is better to invest with the funds saved in the business as investment rather than pay myself and invest post-tax. I'm not planning to trade but it's either put the money into stock or cryptocurrency. I understand that if I purchase them through the business, it should be as capital.

Thoughts?
5 replies
Deal Guru
Aug 2, 2010
12395 posts
3012 upvotes
Here 'n There
Yeah, good until the value drops. Blockchain based currencies are EXTREMELY risky. I have yet to have one associate who is a computer expert be able to understand exactly how it works. If you don't you might want to not touch it with a 20-ft pole. Don't get fooled by social proof. It only lasts so long.

On top of that, unless you are investing for 10-15 years and produce a positive return then because of integration under the tax act you aren't saving a dime investing inside the company.
Deal Fanatic
Nov 13, 2002
5674 posts
177 upvotes
no. transaction fee is about 30$ right now even to move 1$ of bitcoin.
Member
Jan 30, 2010
219 posts
31 upvotes
Toronto
Transaction fees on the client side is killing the incentives to take Bitcoin as a payment now. However, there is a solution in the pipeline called Lighting Network that is going to help with the fees. Most users also started using another solution called Segregated witness, which also help the client save on transaction fees. Most of these sounds super technical but since you have an account with Quadrigacx, maybe you are already familiar to some of the issues with Bitcoin.
Deal Guru
Aug 2, 2010
12395 posts
3012 upvotes
Here 'n There
Why even bother. Everyone has a credit or debit card and with conventional currency the value doesn't bear the risk of plummeting instantly.

You best spend your effort focusing on your business, not some wacko alternate currency hype.

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