Given the recent turmoil in Canada regarding Bitcoin and exchanges, a power vacuum has come into existence which needs to filled as soon as possible. Now that CaVirtex – the biggest Canadian Bitcoin exchange – is no longer in operation for new customers, a new player on the market needs to emerge. Quadriga CX, a Bitcoin trading platform, could be an interesting contender for the position of Canada’s new leading Bitcoin exchange.
QuadrigaCX – A New Player in the Canadian Bitcoin World
Canada is a country where Bitcoin awareness and adoption are really thriving, yet it is also hard to find proper Bitcoin platforms due to regulatory reasons. QuadrigaCX has been around since 2014, yet hardly anyone has ever heard of this Bitcoin trading platform. And the company does offer some interesting services, ranging from Bitcoin trading to merchant services and even Bitcoin ATMs.
One of the major strengths when using QuadrigaCX’s platform is the fact they process all withdrawal requests within 24 hours. Several “competitors” can take up to several [business] days or even weeks in order to get funds to their customers, which is absolutely “not done” in the world of Bitcoin and digital currency these days.
In order to provide such a liquidity of funds, a Bitcoin trading platform would also need a lot of volume to sustain that type of liquidity. QuadrigaCX is – according to their website – one of the fastest growing exchanges in the world today. Such a growth rate has an additional benefit to customers, as they can buy and sell Bitcoin at the best rates at any time.
As you would come to expect from a company trying to become Canada’s largest Bitcoin exchange, QuadrigaCX is 100% Canadian. Located and registered in Vancouver, British Columbia, the company gladly welcomes anyone who wants to stop by their offices. Do keep in mind you will need to make an appointment first though.
Running a Bitcoin trading platform also means a lot of the focus should be on security, which is why QuadrigaCX uses cold storage solutions for the majority of funds in the system. User accounts are secured with encryption exceeding industry standards, and QuadrigaCX servers use custom operating systems and custom software.
To reach as many potential customers as possible, QuadrigaCX offers the most options for both account funding and withdrawals of any Bitcoin exchange in Canada. Options include an in-person deposit, withdrawal to a Visa credit card, funding your account with a money order or Western Union, and withdrawing through an Interac E-Transfer. For a full list of options, click here.
Variety of Services
QuadrigaCX offers some interesting trading markets. Nothing to do with altcoins, mind you, but very interesting options nonetheless. The two main trading markets are CAD/XBT and USD/XBT, as you would come to expect from a Canadian Bitcoin trading platform. But did you know they also offer a XAU/XBT platform? This trading market lets you directly trade Bitcoin in exchange for gold and vice versa.
Merchant services are also part of the service package offered by QuadrigaCX, both for brick & mortar retailers as well as e-commerce merchants. Retailers are paid out in the currency they desire and can choose from many payout options [as long as their request is for a minimum of $50]. All transactions are subject to 1% fee, which is comparable to other merchant solutions.
Last but not least, for those of you willing to venture into the Bitcoin ATM business, QuadrigaCX has two devices for you : the Lamassu and Skyhook Bitcoin teller machines. Depending on whether you need a small and portable device, or a machine that can hold up to 600 bills, QuadrigaCX has the solution for you. No official pricing is available on their website, but you can find the contact form here.
All in all, QuadrigaCX looks like a strong contender in the Canadian Bitcoin market. But we would love to hear your thoughts on this service, so leave a comment below!
Website : https://www.quadrigacx.com