As the CEO of Coinsquare, I would like to provide you with a formal response to the recent news about a data breach of personal information contained within approximately 5,000 records of customer relationship management (CRM) data. Our goal is to be as transparent as possible and echo the communications sent to our customers, and address questions raised on social media, customer support inquiries, and beyond. We have done our best to provide as much information as possible across the following topics: Data Breach Backstory The VICE Article Coinsquare’s Retrospective The Facts of Those Impacted Coinsquare Does Not Offer SMS
Giving back in support of our frontline heroes!
We are all facing unprecedented times. You’ve likely heard that statement before, but it best summarizes how we are all doing our best to work through this global crisis. One thing that has stood out in these past months is the sense of community, compassion and humility that has been displayed by so many people around the world. Community is important, period. For Coinsquare, it’s crucial that we continue to participate and help the community in whichever way we can. One of the ways we can continue to help, is through ensuring Personal Protective Equipment (PPE) is accessible to frontline
What Is The Bitcoin Halving?
The Bitcoin (BTC) halving (also known as “the halvening”) is an event that occurs roughly every four years. It’s the scheduled halving of the reward miners receive for verifying blocks of transactions on behalf of the BTC network. These “block rewards” act as a mechanism to increase the supply of Bitcoin gradually. On average, one block is “mined” every 10 minutes. Here’s a quick refresher on how Bitcoin gets mined. Traditional fiat currencies, such as the dollar, are centrally-controlled, meaning banks such as the Bank of Canada can control inflation by printing cash at their will. In contrast, the creator
Coinsquare Celebrates International Women’s Day
At Coinsquare, we believe in equality, diversity and inclusivity. In honor of International Women’s Day, we decided to donate 50% of all trading fee revenue generated between March 9th and March 15th to the Canadian Women’s Foundation. Generosity comes in multiple forms, and this quarter we decided to give back to a foundation that we truly believe is impacting the lives of women and girls in Canada. The Canadian Women’s Foundation (CWF) addresses four main issues: gender-based violence, economic security, girl’s empowerment, and inclusive leadership. The CWF’s mission is to be a catalyst for the most innovative programs, policies, and
Coinsquare Planning for COVID-19
In light of the current COVID-19 outbreak, we would like to offer some transparency in how we will be protecting our employees and clients while continuing to maintain operations. Coinsquare is monitoring the situation closely and gathering information from primary sources (including the World Health Organization, and Centers for Disease Control and Prevention). We have taken internal proactive measures to ensure the wellness and safety of our team and we will continue to assess the situation and adapt our plan accordingly. The health and safety of our employees and customers is of utmost importance to us. Coinsquare’s disaster and recovery
Coinsquare Engaging with Canadian Regulators
Coinsquare is engaging with Canadian regulators to establish industry standards for online platforms that offer trading in cryptoassets and related financial services. On March 10, 2020, together with four other Canadian-based platforms, we responded to Canadian Securities Administrators’ (CSA) Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets. The Staff Notice sets out the position of CSA staff that a platform that does not immediately deliver cryptoassets purchased on the platform to its customers is likely dealing in securities or derivatives. In our view, this interpretation represents a significant departure from
The Fastest Way to Buy Bitcoin
“Mass adoption of cryptocurrency is closer than you think. By using the millions of existing ATMs around the world we can now give users an easy, fast and familiar experience to purchase cryptocurrency.” – Todd Lawrence, Chief Visionary Officer for CNI What is Coinsquare Networks Inc. (CNI)? Coinsquare Networks Inc. (CNI) is an innovative FinTech company whose software allows users to buy bitcoin from traditional ATM machines via their debit card. Thus, providing users with the fastest way to buy bitcoin. Learn more about CNI here. “Right now, there is a lack of mainstream cryptocurrency adoption because most people are
How to Increase Your Coinsquare Account Security
Coinsquare takes client security very seriously, and we value client awareness and participation in our security features. Despite the numerous behind-the-scenes security protocols Coinsquare has in place, there are some additional security measures our clients can take to protect their accounts. The two most advised security features Coinsquare recommends implementing are two-factor authentication (2FA), and a complex password generator. There are additional security measures clients can take, like ensuring their emails are secure, or educating themselves on the risks of phishing, but 2FA is the most beneficial extra layer of protection for your Coinsquare account. What is 2FA? If you
Coinsquare Obtains Controlling Investment Position in Just Cash
Coinsquare, Canada’s premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced today that it has taken a controlling investment position in Just Cash, a leading and innovative software provider in the fintech space. Just Cash’s revolutionary software enables any ATM to sell cryptocurrency (such as Bitcoin) to customers for the first time. The software allows customers to purchase cryptocurrency through the traditional ATM process without disrupting the ATM network. This first-of-its-kind transaction is accomplished by a routine software update to the ATM. There are no requirements for new hardware, additional capital investments by the ATM operator, or
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Coinsquare Announces the Pre-Launch of eCAD™, Canada’s First Fiat-Backed Stablecoin
Coinsquare, Canada’s premier cryptocurrency trading platform, will be launching eCAD™, the first stablecoin pegged to the Canadian dollar. eCAD™ marks the beginning of a new era for cryptocurrency mass adoption in Canada and beyond. “We are thrilled to announce the first step of our plan to bring stability and opportunity to the Canadian cryptocurrency market,” said Cole Diamond, CEO of Coinsquare. “The launch of eCAD™ will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability in the traditional cryptocurrency market.” Coinsquare’s eCAD™, a CAD-backed stablecoin, will provide the Canadian
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