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Because you have to add money to the card in order to spend money, you can use it to limit your spending. You’r enot as likely to make frivilous purchases when there are extra steps involved. Some Mogo users have reported spending $201 per month less since using the MogoCard.
No, it’s perfectly legal to purchase bitcoin. It’s just not recognized as legal tender. It’s usually regarded as a commodity, unless it’s used to pay for a product or service.
Yes, but only on your earnings. Any earnings made from your bitcoin are considered capital gains or business income. However, not all gains from crypto currency are taxed equally.
No. This prevents people for using their platform to launder money, and makes it easier to focus on learning to use their bitcoin and their services.
Mogo is partnered with veritree. They built the best tool for monitoring and managing environmentally conscious projects like this. This ensures that they’re not double counting the trees or anything.