The early months of 2015 have proven to be a difficult time for Canadian Bitcoin enthusiasts, as two of the most prominent exchanges have been forced to shut down their operations. But there is also good news to be noted, as exchanges such as QuadrigaCX and Cointrader are making a name for themselves. On top of that, Coinsquare.io has opened a CAD order book on their exchange platform.
Coinsquare.io – A Brief Overview
But that is not all, as Canadian customers will enjoy the services offered by Coinsquare.io as they can use INTERAC® funds transfers tog et their orders settled quickly. Furthermore, Coinsquare has removed all trading fees for a limited time – until May 1st, 2015 – in order to expand their customer base.
“We want to provide Canadians access to bitcoin and other upcoming crypto-coin projects on our cutting-edge trading platform in a safe and user-friendly environment,” says Virgile Rostand, Founder and Managing Director of Coinsquare.
Top-notch security is a major point of focus for the Coinsquare team, as they have enabled time-based one-time passwords through Google Authenticator as a two-factor authentication method. But there are also email verifications and confirmations, as well as active IP monitoring of all users.
Furthermore, Coinsquare runs an independent book reconciliation process, which is designed to detect any issues with any of the supported blockchains. This process will also prevent any unauthorized withdrawal of coins, as these types of transfers will be immediately flagged in the system.
In regards to cold storage, Coinsquare keeps roughly 95% of all coins in a cold storage solution in order to mitigate any exploiting of the exchange. But there is more, as Coinsquare also protects customers’ data with tooth and nail.
All private data is being stored on private servers with full hard drive encryption and very strict authentication protocols when trying to access these servers. Public user data is distributed via high-performance cloud servers, in order to speed up the process and create a more streamlined user experience.
The choice for INTERAC® payments was an easy decision, thanks to their partnership with Salt Technology Inc. “The Coinsquare team is providing a great service for traders, providing liquidity to multiple crypto-currency types, in a secure, simple interface. We’re excited to be a part of their launch” says Jim Brown, Vice-President Business Development at SALT.
INTERAC® E-transfers will also be supported for those Coinsquare customers whose bank is not a member of the INTERAC® online program. However, this should not have an impact on the overall costs of the transaction, as both types of INTERAC® fund transfers result in the same fees for the customer.
Coinsquare wants to create an easy-to-use and feature-rich environment for their customers. This environment will allow Canadian customers to trade CAD fiat currency and other digital currencies with ease. Some of the platform’s unique features include time selectable charts, portfolio marking, and quick order entry.
It is important to note that all Coinsquare trading markets are denominated in bits [1 million bits = 1 Bitcoin]. In order to help read quantities and prices in a more effective manner, the Coinsquare platform has integrated a unique decimal color coding.
In total, there are eight different crypto-to-crypto trading markets to choose from [including Bitcoin, Dogecoin, and Litecoin] and, of course, the BTC/CAD market. Speaking of these trading markets, Coinsquare.io has removed all trading fees until May 1st, 2015.
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Source: Press Release Via Email