QuadrigaCX is a trading platform based in Vancouver, Canada. It allows users buy and sell only Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Bitcoin Gold (BTG) cryptocurrencies. It’s a decentralized platform. We can’t compare this one with the most powerful countries’ exchanges like Binance (China) or Bithumb (South Korea). But, only on the Canadian territory, QuadrigaCX seems to be the largest one.
Canada isn’t worried about the global crypto negative consequences – yet. They didn’t implement strict rules about cryptocurrency usage. The platform guarantees that they do not have regulation.
Is QuadrigaCX safe?
Yes, it is. The platform uses the encrypted technology to secure your data. It also works with two-factor authentication algorithm.
Why should you use QuadrigaCX?
The team behind the platform claims that an important base of their technology is liquidity. Users can withdraw their income anytime. Comparing to other exchanges, this one is faster. In just 24 hours, you have the money in your wallet.
They have invested in strong security. The platform works with CloudFlare enterprise to protect the trading activities.
How to start trading
The process isn’t too complicated. First, you need to click on “Register now” and introduce all the requested information: type of account (personal or business), e-mail, name, date of birth and country of residence.
After following these steps, you will be asked to create a strong password and a digit Transaction PIN. The second one is used when realizing withdrawals. Then just check your e-mail and confirm the information.
The platform doesn’t accept IDs from the United States of America. The law regarding this fact is strict and cannot be violated.
How can you buy cryptocurrencies using QuadrigaCX?
First, you need to correctly complete the steps mentioned above. After your verification is done, you can start trading.
To buy cryptocurrencies you will need to make a deposit in dollars. Use your Dashboard to create small orders and Trade section for bigger ones. Once you have fiat money on your account, you can start buying cryptocurrencies.
The fees for exchanges’ services are quite expensive if we compare them to other trading platforms like Poloniex or Bitstamp. You will be charged between 0,2%- 0,5% from the total amount of transaction. It varies because of the cryptocurrency’s flow on marketplace.
The Advantages of QuadrigaCX platform
- It’s decentralized;
- It’s highly secured due to the encrypted Cloud Storage and the partnership with CloudFlare enterprise;
- The starting process is simple;
- It has a friendly interface;
- It allows you realize withdrawals anytime;
- They focus on high level of liquidity;
- The withdraw time lasts only 24 hours;
- It’s one of the most appreciated platforms in Canada.
The Disadvantages of QuadrigaCX platform
- The fees are quite high;
- It accepts only five cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Bitcoin Gold;
- It doesn’t accept IDs from United States of America.
QuandrigaCX is a popular exchange platform based in Canada. It accepts Canadian and US Dollars, but doesn’t accept IDs from United States of America. It allows you to buy and sell five cryptocurrencies at a high level of security.
Have you tried this platform? What’s your opinion about it?