QuadrigaCX Review: A Canadian Cryptocurrency Exchange

QuadrigaCX is a Vancouver, Canada based cryptocurrency exchange that hosts ten trading pairs. It finds itself at number 20 on BlockExplorer’s top 25 cryptocurrency exchanges of 2017 list.

QuadrigaCX is well equipped for any traders looking to trade with CAD. There are a large number of options for both CAD and USD deposit and withdrawal. QuadrigaCX offers an API for programmatic trading. As such, it is recommended for any level of Canadian trader looking for a local exchange.

QuadrigaCX

quadrigacx cryptoURL: www.quadrigacx.com
Launched: 2013
Trading pairs: 10
Deposit Fees: Yes (Not for crypto)
Withdrawal Fees: Yes (Not for crypto)
Trading fees: Yes 0.2% – 0.5%
Verification: Yes, two levels
Margin Trading: No

Registration

Registering on QuadrigaCX is a single step process that requires an email address, your first and last name, and a PIN that will be used when making transactions.

Verification

There are two methods of acquiring verification on QuadrigaCX. It is recommended you complete both, as some of the fiat funding methods available require you to have completed a specific verification method.

The first verification method is to upload a copy of your ID and a proof of residence. And the second asks you questions about your credit information, provided by Equifax.

Fees

QuadrigaCX does not use the usual maker/taker scheme for its fees. Instead, QuadrigaCX has flat fees for trading pairs. Specifically, 0.5% for BTC/CAD, BTC/USD, ETH/CAD, LTC/CAD, BCH/CAD and BTG/CAD, and 0.2% for ETH/BTC, LTC/BTC, BCH/BTC and BTG/BTC.

For deposits and withdrawals, QuadrigaCX charges no fees for crypto or most fiat, with only CAD having fees for some methods. You can see an overview of the fees on QuadrigaCX’s funding page. There are very small minimum limits on crypto deposit and withdrawal, while fiat has both minimums and maximums that change depending on the deposit or withdrawal method used.

Interface

The interface QuadrigaCX provides is an off-white with muted colors. While there is, unfortunately, no dark mode available, the off-white background with muted colors is not as overly bright as some other exchanges.

At the top of the page, you will find information about the currently selected trading pair, a place to select trading pairs and your current balances.

The trading interface is broken into tabs, and unfortunately, there is no way to get a chart, an order book, and an order submission form on the same page. All of the tabs have a vertical design, which leaves a substantial amount of dead space on either side of the interface. Overall, while the trading interface does provide enough information, it could be laid out more efficiently.

Security

QuadrigaCX has excellent security practices. When making any transaction, you are required to enter an additional pin for confirmation. The login page is protected from replay attacks by way of a timeout. You can secure your account with Two Factor Authentication, which can be either email based or Google Authenticator based. And to top it all off, you can have all email sent to you from QuadrigaCX encrypted with your PGP key.

Some ambiguous wording during the registration process implies that you will be emailed both your password and transaction pin. The resulting email does not contain any sensitive information other than your client ID.

Armin Davis

Armin is a cryptocurrency mining and computer security enthusiast. Writing is fun too.

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