We’ve used a number of different cryptocurrency exchanges including Coinbase and Bittrex, but have found some annoying limitations with both. Coinbase’s “automated” verification process is cumbersome and both exchanges put low limits on new accounts - especially for Canadians.
We recently came accross Quadriga, a Canadian-based Bitcoin exchange. Quadriga offers same day funding & withdrawal via Interac online, reasonable 0.2-0.5% trading fees as well as a number of security features (encrypted cold storage, two-factor authentication + more.)
We’ve been really happy with Quadriga’s service and we recommend them to our mining club members.
Here is a quick tutorial for creating your Quadriga account:
Step 1: Navigate to Quadrigacx.com
- Select register now
- We must mention that the links to Quadriga’s site in this post are affiliate links that generate proceeds that go back into the club.
Step 2: Enter your personal information
- Select a “personal” account type
- Enter true and accurate information for all of the required fields
Step 3: Set your Password
- Create a strong password using a combination of upper & lowercase letters, numbers and special characters.
- Confirm your password
- Create a 4-6 number transaction PIN
- Solve the CAPTCHA image to prove that you are not a robot.
Step 4: Registration Complete
Once you’ve successfully registered you will be brought to a “Registration Complete” page that will generate your Client ID. Save your Client ID for future logins.
Step 5: Verify your Account
- Login to your account, select the dropdown menu under your name in the top right corner of the screen
- Select “Verify.”
- The next screen will provide you with two verification options:
- Option 1: ID & Address Verification
- Option 2: Equifax
- Select ID & Address Verification. We do not recommend using Equifax, given their track record in securing their client’s private data.
- When prompted enter your address information.
Step 6: Upload Verification Documents
To proceed with the validation process you will need the following:
- Photo or scan of a Passport or Driver’s license - must be in colour - example
- Photo or scan of a bank statement or utility bill showing your name and full address - example
- Photo of yourself holding the government issued ID that you have provided. In the same picture have a note that reads “ID VERIFICATION FOR QUADRIGACX.COM” along with today’s date - example - Please make sure your face will be clearly visible and that all ID details are clearly readable.
You can use the camera from your phone to take these photos.
- Once you have taken the photos upload them in the correct fields and select “upload”.
Step 7: Wait for Confirmation
It wil take up to 48 hours for Quadriga to approve your verification. Once you’ve recieved confirmation that your account has been verified you will be able to fund your account begin trading.