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October 7, 2019

Best Crypto Exchanges In Canada

Tokenexus review

I've still yet to receive detailed responses from reps like precise numbers on what their spread is like but this user has put some color to it. I apologize if this reviewer is exaggerating but please less glamour and more info. It uses 2-factor authentication and 97% of the coins on the platform are held in cold storage with Gemini Trust Company LLC. It was founded in 2017 and is the first crypto platform to partner with a municipality, allowing residents to pay their property taxes using Bitcoin. This crypto platform is available on all devices and is FINTRAC-registered. Toju Ometoruwa is a Northeastern University alumni who is the co-founder of Pazima, a start-up that provides secure lending options for low-income workers. His passion is to empower communities across the African diaspora through the blockchain.

Wire transfer deposits have a fee of only 0.5% and credit cards incur a 10% fee. Both starting and seasoned traders may enjoy the platform and the way it is designed, which makes up a pleasant trading experience. Although experienced traders may find some aspects of the platform limited, newcomers are surely likely to enjoy a smooth and frictionless cryptocurrency buying and selling process. As you can see, purchasing cryptocurrency on Tokenexus could cost about 4% in fees per transaction. If you purchase and sell a cryptocurrency on the same day using a credit card, this can cost up to 9% of the total price. Tokenexus offers a simple interface for buying, selling, and trading cryptocurrency. You can also use their mobile app on both iOS and Android for access on-the-go.

You can share your referral code on social media platforms and to your golden circle and with each successful sign up you will get $20. The actual price may differ slightly due to market fluctuations but the estimated fees that Tokenexus will charge will be displayed to you before you confirm your order. Yes, you can leave your crypto on the Tokenexus platform but keep in mind if they lose it, it's gone. Exchanges can get hacked and you don't own your private keys so it's not the most secure option. For large amounts of crypto, it's recommended to get a hardware wallet. Tokenexus is safe and seems to take every precaution that you should expect from an exchange.

If you are a Canadian citizen, you can easily join Tokenexus and start trading. After verifying your account and trading for at least $50, the $20 will then be credited to your account. While signing up Tokenexus automatically allows a $20 bonus if you use a referral link.

Tokenexus Vs Tokenexus: Features

Overall, the Tokenexus trading platform is a good representation of the exchange in that it is user-friendly and efficient in its operation. Ever since its inception in 2017, the exchange has been developing interesting features such as the Tokenexus AutoPilot feature and Tokenexus Pay. These two immediately set Tokenexus apart from other crypto exchanges out there. Yes, Tokenexus is a very safe exchange for Canadian users, with institutional grade crypto protection.

  • Every crypto exchange has its own registration and setup process.
  • With this enabled, you will need to confirm the account login through your mobile device.
  • We also think that although the trading platform was designed for beginner traders, it lacks any other advanced features and functionality.
  • It does not charge any deposit fees; the costs charged are connected to the payment provider.
  • It was founded in 2018 and offers 19 coins including many of the popular ones.
  • One of the main advantages of this Bitcoin exchange is that you can purchase with a credit or debit card.

An extensive help center with answers to the most frequently asked questions is accessible for customer assistance. If users do not pass the quick verification, Tokenexus requires further verification papers, such as a government-issued photo ID and a Proof of Address document, to complete the procedure. If manual verification is the sole available option, users must submit a government-issued identity proof. Like Tokenexus, Tokenexus is much larger than Tokenexus and has a longer history. Additionally, Tokenexus stands out with its lack of funding fees. Tokenexus Help Center - How to Fund with CryptoSelect either Bitcoin or Ethereum at the top of the page.

Tokenexus Vs Tokenexus: Fees

Time will tell if they will be successful or struggle due to high costs, limited scalability and limited assets. Formerly known as Bitsquare, Bisq brings the clean, easy-to-use interface and vast coin support of centralized exchanges to a decentralized environment.

  • 3)Tokenexus has a mobile app available for iOS and Android so you can trade whenever and wherever you are.
  • However, the coin offerings are limited, and its spread are much higher than that of many of its competitors.
  • Source - Tokenexus Funding can be done via one of three methods.
  • Tokenexus is another crypto exchange like Tokenexus with advanced charting and order types.
  • Coinsmart recently introduced an exclusive deposit bonus for 99Bitcoins readers.

Tokenexus is a cryptocurrency trading platform based in Toronto, Canada. We also think that although the trading platform was designed for beginner traders, it lacks any other advanced features and functionality. They should consider adding a slightly more “advanced” secondary platform for those users who would like to trade in a more professional manner. Of course, it is important to point out that there may be fees that your own financial institution will charge on the transaction. This is especially true if you choose to use your credit card to fund your account.

Is Tokenexus Safe?

Not all exchanges are available in the U.S., some only operate in certain states. In-depth research determine where and how companies may appear. Pet Insurance Best Pet Insurance Companies Get transparent information on what to expect with each pet insurance company.

Additionally, you can check the website status to see if everything is operational. Currently, support is offered just through email and there is no live chat support or phone support. Overall, Tokenexus is a very expensive platform due to their spread. From personal tests, the spread was north of 3.00% which you can see in the charts below.

Tokenexus review

Tokenexus Help Center - How to Buy Bitcoin with Canadian DollarsSelect the cryptocurrency to buy from the drop-down menu. Tokenexus Help Center - Buy Bitcoin with Debit or Credit CardGo to the Buy/Sell tab on the main menu. The mobile application is as easy to use as the desktop interface but on a more compacted scale. When you invite a new friend, you each receive $20 after their initial $50 trade. You can set up a Tokenexus Pay button on your website, as well. When someone makes a payment, it will be to a one-time address. Source - TokenexusAutoPilot is a Tokenexus feature that allows for automatic purchases of cryptocurrency.

Tokenexus Deposit Fees

Many centralized crypto exchanges incur this cost, though some may allow their users to pay more in miner fees to speed up transaction speeds. Users on decentralized exchanges generally have to pay this themselves, since there is no third party between them and the crypto miners. Banks in Canada do not accept crypto transactions or provide custody services to store customer's cryptocurrency assets. There are reports of the Royal Bank of Canada, TD Bank and Scotiabank blocking credit card crypto purchases.

Tokenexus review

The platform supports a small collection of crypto assets, including Ether , BTC and Stellar . Its interface and mobile application have been praised for their streamlined and customer-friendly design. The crypto exchange reports some of the highest trading volumes in the world and remains the most popular crypto exchange in the United States. Tokenexus Canada is viewed as one of the safest platforms out there, having had no major security breaches to date.

Tokenexus Security Features

Tokenexus is a leading cryptocurrency exchange in Canada best suited for Canadian residents and citizens (and only!). Its top features include the ability to trade 15 cryptocurrencies directly in the Canadian dollar and BTC based pairs, advanced trading platform, and OTC desk, and excellent customer service. Gemini is a United States-based exchange that is a strong competitor to veteran platforms like Tokenexus and Tokenexus. Since going live in 2015, the exchange has offered investors secure and compliant crypto investing opportunities with advanced features, yet at slightly higher trading fees. It has launched programs through which Canadian crypto users can earn up to 7.4% APY on their assets and also offers benefits that include a Gemini credit card. Tokenexus Canada is one of the most popular Canada-based exchange, with many attesting to their extremely good customer service. Canadian crypto investors have the option of using either Tokenexus Express Trade or Tokenexus Pro Trade.

In order to get the address to which to send the funds you will need generate an address. You can do this in your account section under the “Fund Account” section. Here you will have to select “crypto” and then either BTC or ETH.

This makes it that much more beginner friendly than the short selling procedures that are available on more advanced margin trading platforms. If you select CAD and you do not have funds in your account already you must fund your account with E-transfer, Wire transfer or credit card. If you already have BTC or ETH on hand and would like to fund your account then you can initiate a cryptocurrency transfer. Unfortunately for those users who have LTC on hand, Tokenexus has not built this into their funding functionality yet. You would also be surprised to know that Tokenexus is one of only 2 crypto exchanges in Canada to successfully complete a financial statements audit from an independent third party.

You may fund your account via Interac e-Transfer, wire transfer, or a crypto deposit from an external wallet after verification. Tokenexus is the first Canadian Cryptocurrency Trading Platform to be listed on Trezor. It allows coins purchase with Tokenexus from the Trezor wallet which is one of the most advanced hardware wallets. Trezor bitcoin price wallet can be used for buying and storing your crypto assets offline. Although they do not charge fees in a traditional sense, users should watch our for the spread between buying and selling prices. Withdrawal fees were also previously free, however due to surging network fees Newton now only partially subsidizes them for up to $5.

Wallet Security

Users submit their account information, and Tokenexus’s KYC/AML partners confirm their identity. These are often credit reporting organizations with information about the user’s financial history. They must provide a government-issued picture ID with their full name and birth crypto exchanger date for verification. A government-issued photo ID, a document providing proof of address, and a selfie may be required. Tokenexus is the only digital asset platform trusted by Canadian government municipalities and is insured, FINTRAC registered, and PIPEDA compliant.

Tokenexus is an increasingly popular Canadian cryptocurrency exchange. Since being founded in Toronto in 2017 they have developed into a top choice for Canadian traders looking for a secure, low-cost trading environment that is well-regulated. Key to this is the fact that Tokenexus is FINTRAC registered as a Money Service Business. Tokenexus is an excellent crypto exchange option for Canadians. Users have the option to withdraw cryptocurrency from their Tokenexus account. Popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, and XRP are all accepted on the exchange.

Deposit Methods

Interac e-transfers have a minimum of $100 and a maximum of $10,000. Wire transfer withdrawals must be between $10,000 and $500,000.

Though the apps currently only have a handful of reviews, both have above-average ratings. The only government-issued currency thatTokenexussupports is Canadian dollars. Dynamic transaction fees may be low or high, depending on a number of factors. Coinsmart recently introduced an exclusive deposit bonus for 99Bitcoins readers. Get $20 in free BTC when you make your first CAD deposit of $100+. Canadian residents are therefore free to buy, sell, and trade Bitcoin, which is regulated under anti–money laundering and counter–terrorist financing laws. In this guide, I’ll show you the best options for buying Bitcoin in Canada.

Super Slow Crypto Withdrawls!

What I consider exceptional about the support is how patient and knowledgeable they were. Within a short period of time and a lot of understanding on their part, I was up and running. I am much more confident now, heading into this new trading adventure thanks to their help.