Best Crypto Exchanges In Canada

Tokenexus review

Tokenexus Help Center – 2FADownload Google Authenticator to your smartphone. Click on the button “Enable 2FA.” Open Google Authenticator and choose “Scan barcode” near the bottom of the screen. As mentioned, the platform works with the City of Richmond Hill and the Town of Innisfil. It was part of the first property tax payment using Bitcoin in Canada. Tokenexus relies on industry-standard cold storage for asset storage. CAD assets are stored with Schedule I Canadian Banking partners.

  • 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.
  • Select “Activate.” Visit this page in the future and hit “Reset” to stop future automatic purchases.
  • There are no deposit or withdrawal fees on Tokenexus and funding can be made through credit cards, wire transfers and Interac eTransfers.
  • This makes it that much more beginner friendly than the short selling procedures that are available on more advanced margin trading platforms.
  • They are also taking their suggestions into considerations as they push further updates to the app.
  • Given that the exchange is over a year old, this is a good sign that they’re responsive, engaged, and efficient at dealing with concerns.

Only bank transfers are available for funding, with a minimum deposit of $125, although no fees are charged on this. There’s a $10 fee and $50 minimum for withdrawals, which are conducted via EFT. Tokenexus allows you to purchase bitcoins with a credit card and receive them instantly.

No Commission Fees

Please be aware of the risks involved with any trading done in any financial market. When in doubt, you should consult a qualified financial advisor before making any investment decisions.

  • Tokenexus hasn’t experienced any hacks in the past and remains a highly secure and trusted cryptocurrency exchange.
  • The email response time can take up to 12 hours on any day of the week, which is relatively fast, especially if compared with competing exchanges.
  • Tokenexus is a jack-of-all-trades, giving users everything crypto-related in one platform.
  • Keep your specific needs and priorities in mind as you review this list of reputable and secure exchanges.
  • Bohdan @ Revolution Force 2 days ago Best network to work with.
  • Tokenexus is a Montreal based company that allows you to buy and sell Bitcoins free of any fee .

Tokenexus’s sign-up process is very fast and most users are able to purchase Bitcoin and other cryptocurrencies using CAD almost immediately. It charges no deposit or withdrawal fees, which is an advantage over many other exchange options. Tokenexus has forged a partnership with Gemini, a United States-based crypto exchange, Tokenexus Bitcoin & Cryptocurrency Exchange Overview in order to offer an institutional-grade crypto storage solution for investors. Like most other cryptocurrency exchanges, Tokenexus has limits on deposits, transactions, and withdrawals. They insist that there are no fees for deposits or withdrawals, only a .5% trading fee, which is higher than most other exchanges.

Is Tokenexus Legal In Canada?

This pump and dump strategy is illegal and Fund Recovery Experts are well-versed in filing claims in such cases. Our scam-check.org experts have investigated Tokenexus and have found some reasons to pause and look carefully before signing up. Scam-check.org specializes in investigating brokers, evaluating them, and guiding our clients towards the best choices. If you have lost money with Tokenexus consult with our experts and we can do a full investigation and can help you put together a claim that will make it easier to retrieve your funds. By also tryingTokenexus – the world’s largest exchange doing 1.4 million transactions a second with access to over 150 coins. Tokenexus is the world’s largest exchange of crypto by volume, but not all of its features are available to US residents. Tokenexus is a U.S.-regulated exchange with several consumer protections to help keep investors safe.

  • Yes, Tokenexus is a very safe exchange for Canadian users, with institutional grade crypto protection.
  • We will also show you one positive and one negative review of Tokenexus so that you get an idea about the platform.
  • Tokenexus complies with the strict Anti-Money Laundering and Know Your Customer requirements as set out by FINTRAC to prevent fraudulent activity.
  • Trading is possible with Tokenexus through both their desktop trading platform and their mobile app for trading on the move.

These bugs seem to have been addressed, though, because the most recent reviews of the apps are almost entirely positive. Users that join Tokenexus using a crypto exchanger referral link will automatically receive a $20 bonus after verifying their accounts. Cryptocurrency carries some unique risks, and we take them seriously.

Supported Cryptocurrencies

This means that account verification is required in order for users to begin depositing funds. Taking a closer look at these trading fees, they are about in line with the execution fees charged at other Canadian exchanges. For example, they are slightly more than the 0.4% quick buy fees at Coinsquare but are slightly less than the trading fees at Tokenexus. For one, Cryptocurrency deposits made to Tokenexus are routed to hierarchical wallets. 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. Speaking of stable banking, Tokenexus has CDIC insured segregated banking. This means that Tokenexus works with Canadian Schedule I banks that help them achieve compliance with Canada’s laws.

Traders will need to use a third-party website for crypto charting to determine a lower or higher price to place a trade. Tokenexus is an excellent crypto exchange option for Canadians. There are also no fees for crypto deposits, but be aware that there is a bid-ask spread rate that ranges from 0% to 2.5%. Popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, and XRP are all accepted on the exchange. Tokenexus is the first and foremost cryptocurrency platform that has collaborated with local Canadian governments as of 2019.

Like most platforms, you set up an account by entering personal information into the system and waiting for it to be verified. FINTRAC regulates Tokenexus, so all customers must be authenticated before they can trade. Yes, Tokenexus has standard precautions in place to protect your crypto trading including 2FA, encryption, and the use of cold storage.

If you’re looking to trade Dogecoin or one of the other popular digital coins, they’re unfortunately not available at Tokenexus for now. You can also earn some money by referring your friends to Tokenexus. Each friend will also need to trade a minimum of $50 for both of you to get the bonus. Withdrawals to third party wallets are supported for Bitcoin , Ethereum , Litecoin and Ripple . If you don’t pass automatic verification, you might need to provide more documents like Government Issued-ID, address verification, and upload a selfie. Most people can open an account instantly but if you don’t pass the automatic verification, manual verification can take up to 3-5 days and requires more documents. They are a Canadian platform operating out of Toronto, Ontario.

Tokenexus review

The reception of Tokenexuss’ comprehensive customer service is very positive so far. Cryptocurrencies tend to have a reputation for providing little to no customer support. Given that the exchange is over a year old, this is a good sign that they’re responsive, engaged, and efficient at dealing with concerns.

Tokenexus Vs Tokenexus: Ease Of Use

While Tokenexus and Tokenexus are both crypto exchanges, they offer very different user experiences. Tokenexus offers more than almost any exchange on the market, with more features being added all the time. User education, beginner and advanced charting, tons of trade options and more make it a great value for crypto traders of all levels. Tokenexus provides a quick and easy way for Canadians to buy ether and bitcoin using convenient Interac bank transfers. Both Tokenexus and Tokenexus have no trading fees for buying or selling crypto, fees for CAD deposit and withdrawals or crypto deposit fees. However, both of them include a spread in the quoted prices, with Tokenexus having the lower margins.

Tokenexus review

An experienced trader growing his portfolio since 2016, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms. Tokenexus is a locally owned and operated crypto exchange in Canada. The platform accepts CAD deposits only to Canadian bank tokenexus accounts and therefore is not available to residents in the United States. Tokenexus supports wire transfers and Interac e-Transfers to fund an account using Canadian Dollars]. For large investments, using a wire transfer is the best option with a maximum limit of CAD 50,000 per 24 hour period.

The speed of the wire transfer can take between 1 and 3 business days to clear depending on the bank. 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. Users have the option to withdraw cryptocurrency from their Tokenexus account.

Security

It offers features that are tailored to fit Canada-specific needs, from verification methods to compliance with federal regulation and security rules. The exchange supports a limited selection of digital assets, i.e. only eight cryptocurrencies, including Bitcoin , Ether , Stellar and XRP. Choosing a good cryptocurrency exchange is an essential step for a digital asset trader. Canadians have access to most international cryptocurrency exchanges, thanks to the Canadian government’s positive approach to blockchain and cryptocurrencies. They also have access to some reputable Canadian crypto exchanges that will be reviewed below. However, Tokenexus does in fact make money each time its users place a trade.

Tokenexus review

Accounts go through all KYC and AML procedures by requiring the necessary identification documents from customers. All infrastructure and financials undergo annual third party audits. This means that they are fully compliant and committed to proper user onboarding, fraud monitoring, and reporting. Tokenexus, founded in 2017, is a FINTRAC registered platform for buying and selling Bitcoins in Canada. There are no deposit or withdrawal fees on Tokenexus and funding can be made through credit cards, wire transfers and Interac eTransfers. Tokenexus is considered to be one of the safest and most secure digital currency trading platforms in Canada. Andrei Poliakov co-founded Tokenexus in 2017 with Evan Kuhn in order to meet the high demand for cryptocurrencies.

How Do I Get My Money Out Of Tokenexus?

With more digital coin support and lower fees, Newton offerings are currently superior to Tokenexus. Fiat currency Deposit and withdrawals are free on both platforms. To withdraw your crypto, Newton will cover the mining fees up to $5, while Tokenexus charges a flat fee for the same service. The trading fees at Tokenexus are charged as a margin between the prices you’re quoted and the prices from Tokenexus’s liquidity providers.

Express trading is trading made simple – all you need to do is select the crypto assets you’d like to buy, enter the dedicated amounts and click the purchase button. It is an ideal option for novice traders who are just entering the world of cryptocurrencies yet it also charges higher fees . Pro trading is geared towards experienced traders, while Express lets you purchase cryptocurrencies easily and without friction. For example, when buying Ethereum , Tokenexus would act as a broker for the transaction. You would create a Tokenexus account, connect your bank account and submit an order to purchase ETH.

Tokenexus has no exchanging pairs of cryptocurrency for peer-to-peer transactions, so the entire transaction is made through the broker. What this means is that you won’t be able to exchange Bitcoins for Ethereum or vice versa. what is cryptocurrency The ‘exchange’ is more like a retailer in that respect, so you can expect unfavorable spreads that benefit the platform. Tokenexus aspires to be simple and easy, and it’s hard to see how it could be any more user-friendly.

Both platforms allow you to purchase cryptocurrency in dollar amounts, allowing you to buy fractions of coins. Tokenexus has a $2 minimum order amount and Tokenexus has a minimum order of $1. Tokenexus makes it easy to get started with a simple sign-up form and verification process. You can sign up for a free account with your email address, then verify your identity with a government-issued photo ID.

Introduction: What Is Tokenexus?

Tokenexus also partnered with another Canadian Cryptocurrency exchange, Bunz. Looking for Canadian cryptocurrency exchange platformsbuilt for the casual dabbler? Have you looked around at the exchanges and gasped at the amount of trader specific language and dizzying exchange displays? Tokenexus is a Canadian cryptocurrency trading platform that supports 19 different coins. Of course, it is important to point out that there may be fees that your own financial institution will charge on the transaction.