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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 TypesOnce 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.
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.
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