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Old July 10, 2018, 10:55 AM
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Default Mogo Bitcoin

Anyone else aware of this?
https://www.mogo.ca/mogo-crypto

I was invited in today and looking into it. You e-transfer money to them to purchase Bitcoins..

Just threw $20 at it and $20 through Mogo = 0.00235954

Last edited by enaberif; July 10, 2018 at 11:07 AM.
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Old July 10, 2018, 03:25 PM
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What are their withdrawal fees like, though? Also are they a broker or an exchange? I signed up for NDAX recently which offers fast funding through e-transfer and they have a $10 withdrawal fee.
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Old July 10, 2018, 03:54 PM
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I presume you have to send in a bunch of ID still though?

Though I guess 1% of CAD value on buy/sell is a lot more reasonable. I feel like all the current exchanges are grossly inflated.
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Old July 10, 2018, 03:55 PM
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Quote:
Originally Posted by JD View Post
I presume you have to send in a bunch of ID still though?

Though I guess 1% of CAD value on buy/sell is a lot more reasonable. I feel like all the current exchanges are grossly inflated.
Mogo has enough info to get your credit score, so I presume there's no extra I requirements. I didn't get invited to this thing though so I can't tell you for sure
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Old July 10, 2018, 03:56 PM
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Originally Posted by supaflyx3 View Post
What are their withdrawal fees like, though? Also are they a broker or an exchange? I signed up for NDAX recently which offers fast funding through e-transfer and they have a $10 withdrawal fee.
It appears to be more broker than exchange as its a single coin you buy into then sell as normal.

Fees...
Our fees are as follows:

MogoCrypto sign up - free
Funding and withdraw - free
Holding your coins - free
Buying and selling - 1% of the Canadian Dollar value of crypto being bought/sold 1

1. The exchange rate we offer you on a buy or sell transaction of cryptocurrency is calculated from our Exchange Partner's price, which may include fees or mark-ups applied by our Exchange Partner and/or other factors such as market depth and volatility, and includes a 1% fee charged by us. You can check the exchange rates we offer for cryptocurrency purchases and sales at any time from within the MogoAccount.
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Old July 10, 2018, 04:44 PM
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Okay that sounds pretty promising. 1% fee is definitely something I can get behind for a fiat gateway, on the low end it's usually 5% but usually closer to 10% if you want to withdraw small amounts. I think I signed up for the mogo beta or whatever months ago so maybe I got an email and missed it.
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Old July 10, 2018, 05:20 PM
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Quote:
Originally Posted by JD View Post
I presume you have to send in a bunch of ID still though?

Though I guess 1% of CAD value on buy/sell is a lot more reasonable. I feel like all the current exchanges are grossly inflated.
Mogo has a lot of your information already and the transfer of funds in and out is all done through e-transfers.

My transfer of $20 to buy the coins took less than 15 minutes.
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Old July 10, 2018, 05:29 PM
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Originally Posted by enaberif View Post
Mogo has a lot of your information already and the transfer of funds in and out is all done through e-transfers.
So it's just through Equifax or similar? I don't mind answering those questions, but I have an issue when some of these exchanges want photos/scans of your ID's along with a picture of you holding it and whatever else. Who knows where all that information is being stored and what they do with it. I try to protect my identity as best I can...

(though it's not like Equifax didn't get breached )
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Old July 10, 2018, 05:30 PM
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Originally Posted by JD View Post
So it's just through Equifax or similar? I don't mind answering those questions, but I have an issue when some of these exchanges want photos/scans of your ID's along with a picture of you holding it and whatever else. Who knows where all that information is being stored and what they do with it. I try to protect my identity as best I can...

(though it's not like Equifax didn't get breached )
To be honest I signed up with Mogo so long ago but there never was any ID to be provided or anything.
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Old July 10, 2018, 06:19 PM
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No invite email here, but I signed up and did the equifax verification. Now to wait for an invite haha
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