- Good level of security
- Very low trading and fiat transactions fees
- Quick support
- Simple trading platform
- Low number of cryptocurrencies supported
- Gets overloaded easily
- Slow deposits and withdrawals
The Supreme Court of Nova Scotia issued a Termination and Bankruptcy Assignment Order outlining the process by which the Quadriga CCAA proceedings will be converted to bankruptcy proceedings under the Bankruptcy and Insolvency Act. Follow the process in the official QuadrigaCX page.
The review is left for the archiving purpose. Do not open any accounts at exchanges stating they will replace QuadrigaCX.
QuadrigaCX is a huge Canadian cryptocurrency exchange and trading platform. Offering high-quality services and allowing to exchange Bitcoin, Litecoin, and Ethereum. Besides operating as an exchange, Quadriga supports a trading platform as well. While being dedicated to Canadians mostly, customers from around the world are welcome. However, US residents will not be able to use the exchange successfully.
Furthermore, QuadrigaCX took care of a high level of security. Probably one of the best in the exchange’s market. In addition, website cleanliness and simplicity fit well for a newcomer. Optimization for the fast exchanges and stress-free trading make QuadrigaCX truly inviting place. Jokes about Canada’s welcoming are real!
A deposit speed depends on the selected payment method and takes from a few minutes even to a week/5 business days. The same situation repeats with withdrawal as well. Some methods let withdrawal to finish in a few minutes, but some may take more than 10 working days.
QuadrigaCX gives a super high limit if an account is fully verified. For a deposit, the biggest amount can even reach $500,000. While a minimum of $50 is applied.
The minimum withdrawal is set to $10 and the max to $500,000. Furthermore, minimal withdrawal for cryptos – 0.001.
The verification process and privacy
When fiat currencies come to the QuadrigaCX, account must be verified. The exchange asks for one form of ID, proof of address and a selfie with an ID. Certainly, cryptocurrencies don’t have any limits. However, those who think about their privacy more, Quadriga shouldn’t be the first choice.
QuadrigaCX made an amazing job with the implemented security features. All the security starts from a standard option – Two-Factor Authentication. The transaction PIN functionality is available as well. And finally, funds of customers lay safely in encrypted cold storage.
In addition, all the traffic go through Cloudflare, Global Load Balanced Network, etc.
Quadriga isn’t very demanding if we talk about the support team. There’s a huge knowledge base though. However, no other options for getting help besides some social accounts at Google, Twitter or Facebook. Still, that should be enough to find an answer.
QuadrigaCX is an amazing place for Canadians to buy or trade three main cryptocurrencies. The platform is simple and very easy to use, the website works flawlessly, no noticeable bugs or serious issues detected.
Unfortunately, deposits and withdrawals take a lot of time and sometimes get delayed due to overload. Also the list of cryptocurrencies available, needs get longer of course.
Reviewed by Coinsmaniac