Connecting you with Mogo...

Why Mogo?

Mogo is a fintech company regulated by FINTRAC that began operation in 2003. They features free credit score monitoring and early prepayment on Mogo has no penalty fee. This service is a good option for clients who have ongoing mortgage loans or other debts with Mogo.

Loan Types

Once you have completed your registration with Mogo, you can access a personalized dashboard. Here you can see the different types of loans you can apply for on the site. Mogo loans are subdivided into two, namely, Mogo liquid and Mogo mini. Mogo liquid loans have a 5-year loan term, while the Mogo mini loans have a 1-year loan term.

We recommend Mogo because...

Pros & Cons

  • Loans are available even with bad credit
  • Access to unsecured Loans
  • Loan terms range between 6 months and 5 years
  • Quick application process
  • Secured personal loans are unavailable
  • The maximum personal loan amount is $35,000

FAQs about Mogo

How does the MogoCard save you money?

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.

Is bitcoin illegal in Canada?

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.

Do you have to pay taxes on Bitcoin in Canada?

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.

Can I transfer bitcoin that I’ve purchased and held from other services to Mogo?

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.

Who plants the trees?

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.

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