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.

Founded in 2014 by the creators of aftermarket.pl, BitMarket is a Polish cryptocurrency exchange that finds itself at number 18 on BlockExplorer’s top 25 cryptocurrency exchanges of 2017 list. This exchange offers 6 trading pairs, all of which are crypto/fiat.

BitMarket has some moderate activity, with almost 100 BTC traded in a single day on its BTC/PLN trading pair. It is recommended for all polish traders, especially those looking for a mid-volume market with a robust API for programmatic trading.

 

BitMarket

bitmarket cryptoURL: BitMarket.net

Launched: 2014

Trading pairs: 6, all fiat/crypto

Deposit Fees: Yes

Withdrawal Fees: Yes

Trading fees: Yes 0.0% – 0.45%

Verification: Yes, three levels

Margin Trading: Yes

Registration

Registration on BitMarket requires a first and last name, an email address, a password, and a current physical address. Once the information is filled out, there are four checkboxes that are required, one of which links to a document that seems to only be available in polish.

Verification

BitMarket has three verification levels, none of which are required unless you want to deposit or withdraw fiat, or are trading more than 15000 EUR in a year.

Verification level one is the simplest to acquire. You are required to send BitMarket a scanned ID that states your current address, or a scanned ID and some proof of residence. For level two, a verification code is sent to your stated address via post. The last verification level is required if you wish to use instant bank transfers to fund your account. Each bank account you want to transfer from has to be verified individually by way of a 1 PLN transfer to BitMarket.

Fees

BitMarket uses the usual Maker/Taker scheme that most exchanges use to structure their trading fees. Specifically, BitMarket bases its fees off of your last 30 days of trading. BitMarket does not state exactly when your current fee bracket is updated. On the low end, makers pay 0.15% for between 0 and 99.99 EUR traded, while takers pay 0.45 for the same. For the high end, over 500,000, makers pay no fees, and takers pay a fee of 0.30%. Margin trades follow the same fees above, with opening a position taking the maker’s fee, and closing a position taking the takers fee. After opening, margin trades pay a daily fee outlined on BitMarket’s fees page

For deposit and withdrawal, the fees you pay depend on the currency and the method of transfer. Cryptocurrencies have no deposit fees and have a small withdrawal fee. For fiat deposit, there is no fee for PLN, while EUR deposits cost between 2 and 5 EUR. Both PLN and EUR pay withdrawal fees, PLN ranging from 2 PLN to 20 PLN, while EUR is a flat 2 EUR.

Limits are set at 100,000,000 PLN or equivalent daily on deposits, aside from cryptocurrencies. And there is a limit of 100,000,000 or equivalent daily for withdrawal on all currencies.

Interface

BitMarket’s interface overall is a very bright white with green and blue accents. There is no dark mode available, meaning that late night trading could be a source of eye strain.

The trading interface feels quite simplistic, with a chart, order submission, order book, and trade history all stacked vertically. The chart itself while informative feels sluggish when changing settings, and overall seems somewhat blurred.

Security

BitMarket seems to have some very trigger happy bot protection in the form of a captcha via Cloudflare. I found myself solving one at least once every three page loads. Otherwise, BitMarket offers Two Factor Authentication by way of Google Authenticator.

HitBTC is a Chicago based cryptocurrency exchange founded in 2014 and is #12 on BlockExplorer’s top 25 exchanges of 2017 list.

HitBTC supports a huge number of trading pairs, with high amounts of activity on most of them. All of the trading pairs on HitBTC are crypto/crypto and offers an API for programmatic trading.

HitBTC is recommended for mid to large scale traders looking for a high activity exchange.

HitBTC

hitbtc cryptoURL: hitbtc.com
Total trading pairs: 273
Deposit fees: Yes, for some currencies
Withdrawal fees: Yes
Trading fees: Yes, -0.01% – 0.1%
Verification: Yes, but unneeded

Registration

Registration is exquisitely simple, requiring only an email and password. After submitting the registration form, you will receive an email with a confirmation link.

Fees

HitBTC breaks its trading fees into the usual maker/taker model. Where takers pay a fee of 0.1% on all trades, makers receive a fee of -0.01%, meaning makers receive additional currency when making trades. Otherwise, fees for deposit and withdrawal are set per currency and can be seen on the wallet page.

Interface

HitBTC’s interface is highly configurable. While defaulting to a day mode with bright colors, it has a night mode with darker colors. The main exchange page has plenty of information presented in an organized manner. On the main page there is a chart of the currently selected pair, a method of switching trading pairs, buy/sell order forms, an order book, a small chat window, and a list of your current active orders. On the top right of the page is your current balances that are relevant to the currently selected trading pair, alongside their estimated worth in BTC and USDT

The chart can be switched between HitBTC’s chart and a chart generated by TradingView. The TradingView chart is more configurable, but it does not follow your configured theme, so you may find it to be extremely bright if you switch to it during a late night trading session. Otherwise, the entire layout of the trading page can be changed to your personal preference.

Verification

At the time of writing, verification was unnecessary to do any sort of trading, and unverified accounts had the “general” designation. The language around the verification page seemed to indicate that this would change at some point in the future. The “General” verification level is given to all new accounts and has no withdrawal or deposit limits.

Getting verified is a single step process where you email a large amount of personal information to HitBTC’s compliance department. The personal information required is as follows:

  • Full name
  • Date of Birth
  • Country of birth
  • Address
  • Bank account information
  • Government ID
  • Proof of residence
  • Proof of bank account ownership

After sending your email, verification should take between three and five working days.

Security

HitBTC pays attention to security features, passwords have no length limits. You can configure automatic logout after a set amount of time, and to go with that, you can log out all active sessions.

WEX is a cryptocurrency exchange founded in 2017 that is operating out of Singapore. It is a rebranding of the now infamous exchange BTC-e, which was fined $110M USD by FinCEN. WEX is #7 on BlockExplorer’s top 25 exchange list from 2017. At the time of writing WEX reported a daily average of 16,655 users with a trading volume of $86M USD, making it a decent choice for medium to large scale traders that want to trade currencies that WEX supports. There are also three different APIs available for use in programmatic trading, though the documentation around one of them is in Russian with no English version available.

WEX

wex crypto

URL: wex.nz
Total Trading Pairs: 40
Deposit Fees: No
Withdrawal Fees: Yes
Trading Fees: Yes, flat 0.2% on all trades
Verification: Yes

Registration

Registration requires you to enter your email twice, followed by the username you would like to use, and finally, a CAPTCHA-like anti-bot measure to solve. Once you have submitted your registration request, the page will update and display a password that you can use to log in. You should change your password as soon as possible after logging in, note that WEX does not ask you to do so.

Verification

You may deposit, withdraw, and trade cryptocurrencies without verification. Getting verified requires quite a bit of personal information, listed below.

  • Full name
  • Date of birth
  • Current citizenship
  • ID Number, issue and expiry date
  • Your current address including country
  • An image of your ID and proof of residence
  • An image of you holding your ID with face clearly visible

Verification should take no more than 7 working days.

Interface

WEX’s interface is a white background with black text and grey highlights. It feels difficult to use due to the extreme verticle configuration though it is not completely unusable. Trading pair selection is done at the top with trade submission done below an auto-updating chart. To the right of the chart is a chat widget allowing you to chat with other traders. The chart is decently interactive and customisable, allowing you to select the shape of the candles. Below the chart, you can submit buy and sell orders and the fee for the intended order. Down the page further, under the buy and sell order section is an order book which updates semi-frequently. Further down still is your current active orders, and below that is the trade history for the selected trading pair.

Security

Though not directly insecure, passwords being displayed in plaintext on the webpage after registration seems like a bad idea. Making that worse, you are not asked to change your password upon subsequent logins. Otherwise, WEX has a decent number of security features, you can secure your account with 2FA using google authenticator. You can also manage an IP whitelist and view all open sessions logged into your account.

Fees

Currently, WEX applies a flat 0.2% fee to all trades. There are no fees on depositing cryptocurrency when withdrawing there is a set fee that is different per currency, you can view the entire list here

Bitfinex was founded in 2012, is based in Hong Kong, and is owned by iFinex inc. It is one of the largest Bitcoin trading platforms by trading volume, and It provides regular and margin trading against 105 trading pairs. Bitfinex has trading, deposit, and withdrawal fees, though the deposit fees are waived on deposits over $1000 USD or equivalent.

Bitfinex’s high trading volume makes it good for any investors, while the simplicity of its interface will make new traders feel comfortable, without hiding information from more experienced investors. There is also an API available for programmatic trading.

Bitfinex

bitfinex logo

URL: bitfinex.com
Total Trading Pairs: 105
Deposit Fees: Yes for small deposits
Withdrawal Fees: Yes
Trading Fees: 0.00%-0.20%
Margin Trading: Yes
Verification: Only for fiat withdrawal

Fees

Bitfinex breaks its trading fees down into the usual maker/taker system. With fees going down as the amounts go up based on your total trading over the last 30 days. Starting at 0.1% for makers and 0.2% for takers for orders between $0 and $499,999.99 USD. And 0.0% for makers and 0.1% for takers at $30,000,000.00+ USD. Aside from standard trading, Bitfinex offers an OTC desk with no fees, so long as you allow Bitfinex to broker the transaction.

For deposits, there is no fee so long as your deposit is larger than $1000 USD or equivalent, for withdrawals there is a flat fee for all currencies.
You can find the exact numbers for both withdrawals and deposits here

Interface

Bitfinex’s trading interface is a nice dark blue-green background with light off-white text. Which makes it awesome for late-night trading without eye strain.Bitfinex's default trading interface

There is a large amount of information presented on the main screen which all updates in real time:

  • Your current balance on all wallets
  • An interactive chart of the currently selected trading pair
  • Your current regular and margin orders
  • The current order book (which can be filtered to show only your orders)
  • A list of all Bitfinex’s trading pairs and their current price, with the ability to switch  to them
  • The most recent trades on the current trading pair

The chart is extremely configurable, you can change every colour and the style of the candlesticks. It also has a screenshot button to grab an image of the chart as it stands. There is also a fully interactive tour of the interface, which even provides a small amount of basic trading information. Overall the interface feels comfortable and easy to use.

Verification

Bitfinex requires verification only if you intend to withdraw fiat currencies, you are free to trade and withdraw crypto at any time. Verification requires you to be at least 18, your phone number, your address, two forms of government photo ID, a bank statement indicating you as the account holder, and proof of address no more than three months old.

Security

Bitfinex offers various account and email security features. For email security, you can request that all communication is encrypted with PGP. And on the account side, you can enable 2FA with optional hardware key support, monitor the IP addresses that use your account, any unknown IP addresses attempting to withdraw from your account will be blocked until the withdrawal is confirmed by an administrator.