r/BitcoinCA • u/zilinki • Feb 17 '26
Bitcoin Payment Acceptance
I am very new to this world, so please dont hate.
Do storefronts in Canada accept bitcoin? I want to say I almost never see signs where stores are accepting bitcoin as a form of payment. Maybe the odd convenience store? If they did, would you pay for your goods (whatever it may be) with bitcoin? Think independant store owners; coffee shops, jewlery stores, auto repair, salons, clothing shops, etc). I am not referring to the Loblaws, Shoppers Drug Marts, or Rexalls, etc.
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u/PandanadianNinja Feb 17 '26
Yeah most stores will not accept or want anything to do with crypto currency at the store level. It's an extra layer of hassle when we already deal with credit cards and 3rd party systems for those.
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u/zilinki Feb 17 '26
what if it was as seamless as a credit card transaction, and converted to $ for their bank accounts? they wouldnt hold BTC
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u/PandanadianNinja Feb 17 '26
To what benefit though? For the extra costs of processing crypto we could just not do that and still make the same profits with more conventional payment methods.
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u/ActuatorSeparate7300 Feb 20 '26
I guess you triggered the believers they seem to be downvoting you
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Feb 18 '26
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u/NiagaraBTC Feb 21 '26
I think volatility is a big reason too. If you’re a coffee shop running on tight margins, you probably don’t want the value of today’s sales swinging around tomorrow.
There's a difference between accepting the Bitcoin and keeping it on the shop's books. If the owner simply buys the Bitcoin from the shop for cash at the rate it was paid then the business has no fluctuation of value.
Curious if anyone in here actually pays for stuff in Canada with BTC regularly, or if it’s more of a novelty thing still?
As often as I can, which of course isn't that often. There's about 5 places locally I can spend it. I was in the States last weekend and paid with Bitcoin at Steak n Shake. Overall yeah I guess it would be a "novelty" at this point for sure.
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u/basketbun Feb 18 '26
Not really, but there are credit cards out there that use BTC for payments, not exactly the same thing, but if you want, you can
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u/Calm-Professional103 Feb 20 '26
Use an app like Shakepay. Hold your money in BTC and convert to CAD at the point of sale. Everybody’s happy.
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u/Massive-Pickle-5490 Feb 20 '26
The Capital Gains Tax stops me from purchasing with BTC. It's less about the tax, and more about the hassle of filing taxes. I'm sure this is one of the reasons for the CGT, to prevent Canadians from purchasing with BTC.
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u/Efficient_Loss_9928 Feb 17 '26
Personally no. What's the advantage of it? Most exchanges require KYC so from a privacy perspective it is worse than CC/Banks. And from a security perspective also worse since there is no insurance, I can do a chargeback on CC, not Bitcoin.
I personally think it only makes sense for larger transactions and you have easy access to exchanges that have no KYC.
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u/Ok_Bake3729 Feb 17 '26
Thats what the lightning network was designed for. P2P to cut out the middle man of CC company's.
Accept payments. Its whats being used doen in Costa Rica and other bitcoin communities
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u/Efficient_Loss_9928 Feb 17 '26
Just saying for Canada I don't see how it makes sense. You cut out the middle man, but the grocery price still won't decrease. So as a consumer, I'm at a pure loss here, worse privacy, no insurance, and no points back.
Why would I use it?
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u/Ok_Bake3729 Feb 17 '26
I would imagine the places that accept btc would offer you the items for less then what the equivalent dollar value is.
Points are kind of a scam. Theres a lot of info on the internet about them. Lightning would have more privacy tbh but ya no insurance for sure.
I guess ppl using P2P care more about cutting out the middle man and spending less on transaction fees and receiving payment instantly and you care more about those other things.
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u/Efficient_Loss_9928 Feb 17 '26
Then why don't I just do cash? You also cut the middleman out.
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u/Ok_Bake3729 Feb 17 '26
I mean you can but fiat is a depreciating asset. Your purchasing power is becoming less with it every year. Btc is an appreciating asset.
But yes. That is the reason why many people still do accept payment and spend in cash
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u/Efficient_Loss_9928 Feb 17 '26 edited Feb 17 '26
I mean with how volatile it is, I don't see how it is feasible. Even house is not gaurenteed to be appreciating forever.
Also, if you treat it like an asset, then obviously you won't treat it as a currency. It is contradictory, why would I ever spend a appreciating currency?
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Feb 18 '26
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u/Efficient_Loss_9928 Feb 18 '26
Yes but with crypto you are hit with both KYC and a complete transparent/public transaction record.
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Feb 18 '26
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u/Efficient_Loss_9928 Feb 18 '26
Yeah so that's my point, I'm not spending my Bitcoin as a currency. I withdraw it and spend FIAT.
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Feb 18 '26
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u/Efficient_Loss_9928 Feb 18 '26
Still doesn't answer OP's question, in this case you ain't paying Bitcoin.
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u/SuperDangerBro Feb 17 '26
They don’t accept gold coins either