Quadrigacx.com Review 2020 – Scam or Not?
QuadrigaCX is currently offline.
Quadrigacx.com is a Canadian-based website that offers BTC and other crypto exchange services. Today, we will be looking into what they have for us. Join us, as we explore their website, know their features, try and create an account and talk about verification levels! We will also get to know them in general and determine if they are the best match for you.
We as a team know that when it comes to BTC exchange websites, it always comes down to personal preference. We can only point a few options, but at the end of the day, the decision is still yours. Without further delay, let’s talk about that decision that needs to be made!
The company QuadrigaCX is registered and located in Vancouver, British Columbia, Canada. This is mentioned in their website but they do not have a physical address to back that up. They also claim to be the largest crypto exchange in Canada, but they are not regulated, which is something that bothers us. Their website doesn’t also have information on when they launched and how many years they have provided service for the Canadian audience.
This is a red flag for us since the information we need to confirm that they are a legit exchange is not transparent to the people that want to create an account with them. We have always stressed how important it is to know a background of a company before investing your time and money in them.
Verifications with Quadrigacx.com
How do we get verified? First we need to create an account with Quadrigacx.com first. To create an account, head on to their website and click Register Now. The registration page will ask for personal information like first name, last name, date of birth, and the country of residence. After providing this information, a second page with your new password and a transaction PIN for all the transactions happening in the account that is going to be made.
After everything has been submitted, an email containing the details of your client ID is sent, now you are able to log into your newly created Quadrigacx.com account! What we’ve noticed is that, since the website is not regulated, creation of an account for people outside Canada is easy and doesn’t require that much information compared to region-based exchange wherein a local phone confirmation is needed.
In addition, they do accept international ID’s for verification purposes with the exception of the United States of America. This is due to the MSB laws and regulations that prohibit the website from providing service to users from the USA. This means that they cannot service citizens of the USA and utilize bank accounts from within the United States of America.
Here at Quadrigacx.com, they do offer Two-Factor Authentication on all accounts. This means that users are able to add a layer of security to their accounts. To activate the 2FA, users only need to head on to their account and click on profile settings and choose from either Google Two-Factor Authentication or Email 2FA, or even activate them both for added security.
Aside from their security features, they also have a referral program where you get 10% of all trading fees from any user that has used your referral link to create an account with them. To read more about this awesome deal, click this link and get ideas on how to market your referral links.
Trading with Quadrigacx.com
Most of the trading pairs are against CAD but we’ve got BTC paired with USD if you guys are more comfortable trading with that. To start the trading, we need to log into your account and click on the “Trade” tab located on the upper part of the account page. Their trading platform is actually really easy to use since you only need to put how much BTC/crypto you want to purchase and the website will automatically calculate how much you need to pay in total.
Since the calculation made is automatic, the system will provide the latest price for BTC exchange value. This means that the price shown on the screenshot will change depending on the current BTC price. Once an order is placed whether it be a buy or sell order, this will be transferred below under the “Open Orders” tab. Below the “Open Orders” tab is a feature that most people do not take advantage of.
The “10 Most Recent Trades” gives you an idea on how the market is moving and what the best course of action to take when buying and selling crypto online. Overall, their trading platform is great and easy to use.
We’ve talked about how to create an account, trade and their features; it’s time to talk about their trading fees. Fees are placed only on successful orders taken. This means that all completed trades are charged 0.5% fee of the total currency being traded. This is for BTC/CAD, BTC/USD, ETH/CAD, LTC/CAD, and BCH/CAD pairs. For ETH/BTC the fee is at 0.2% per transaction.
Deposits and Withdrawals
Are you guys still on the same page? Let us talk about how to get our funds in and out of the website. We’ve talked about the features and whatnot not is the time to know how to fund our account. One awesome thing about the website is that registered users are able to fund their accounts with Fiat or Crypto depending on what they want to do.
We also have noticed that most of the new exchange websites today are moving towards the dual deposit options to get more people in, and that is just great! Here at Quadrigacx.com users are able to do Wire Transfers and direct crypto deposits. The fees for deposit and withdrawals start from 1% up to 2.5% depending on the option chosen. Cash delivery option charges even more with 2% + CAD $20.00 per transaction! To read more about their account funding and withdrawal options, please click this link.
You guys might find this odd, but the website does not have any live customer support channels. This means that they do not have a phone number to call, and they do not have a chat box to ask someone about any issues regarding their website. They do have a ticket system, which if you ask us, is the worst kind of CS due to the turnaround and resolution time.
Pros and Cons
- Accepts both Crypto and Fiat currencies
- Multiple Security features
- Easy account registration
- Ticketing CS
- High Fees
QuadrigaCX Review Conclusion
Overall the website has a lot of flaws. We would like to point out the fact that they have not listed their physical address (is it because they want to remain anonymous?) and this really made us think twice of creating an account with them. On the other hand, if you want to have a completely anonymous website that is “based in Canada” then Quadrigacx.com is the exchange for you! They do have a double security system, which is honestly cool if you look past their flaws. All-in-all, we would not recommend this website straight up and would advise you guys to read more about them before investing. Do you have an account with them? Please share on the comments section below what your experience with them are.