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Virgo CX Exchange Review 2024

11 Thursday Jan 2024

Posted by in Canadian Crypto Exchanges

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Virgo CX is a Canadian cryptocurrency exchange that was founded in 2018. Virgo CX is based in Ontario and offers Canadians an easy way to trade crypto. We tested Virgo CX to see if it is worth using in 2024.

Virgo CX offers Canadians the ability to trade over 50 cryptocurrencies. Free Interac e-Transfer and wire deposits and withdrawals from Canadian and US banks are accepted. Processing times for Interac deposits and withdrawals are instant while wire deposits and withdrawals take up to 24 hours.

As a fully regulated Canadian exchange, Virgo CX is also secure. It has insurance and conducts regular audits of its reserves.

Virgo CX has an NFT marketplace, OTC services to trade large amounts of crypto, and a foreign currency exchange should you wish to convert your fiat.

Virgo CX offers a Quick Trade option which is suitable for beginners, and anyone looking to buy or sell crypto quickly at market price. The advanced trading platform is suitable for more experienced traders and anyone wanting more advanced order types.

There is also an OTC Desk for people who wish to place large buy and sell orders over $30k. This feature is called Virgo CX Wealth. It is especially useful for those wanting a personalized trading experience when making large trades. You will get your own personal account manager when using this service.

Another feature of Virgo CX is its NFT marketplace. Users can browse, buy, sell, and mint NFTs. The NFTs can be bought with Ethereum.

Finally, Virgo CX has a fiat currency converter for anybody wanting to trade CAD for USD, or another fiat currency. 

For those new to crypto, Virgo CX offers a helpful learning centre full of educational articles and guides.

Virgo CX offers free CAD Interac e-Transfer and wire deposits. You can also deposit US dollars from US banks using wire transfer. Fat withdrawals are also free. Credit and debit cards are not accepted.

Conveniently, Virgo CX offers a Quick Trade feature for when you want to buy crypto quickly at market price. The Quick Trade option is on the homepage of the website, so you can’t miss it.

The advanced trading platform is accessible when you click the Trade button at the top of the website. Here, more experienced users can find advanced charting tools and more order types including limit orders.

Conclusion:

Virgo CX is a beginner-friendly Canadian crypto exchange. The trading platform and app are well-designed and simple to use. The advanced features make Virgo CX good for experienced investors and the OTC Desk is perfect for those wanting to make large trades.

While the NFT marketplace is a nice feature, there are not many NFT collections there. Additionally, the NFTs are listed in Ethereum, meaning you will pay high gas fees for purchasing these NFTs.

Virgo CX is a secure and compliant crypto exchange so it can be used with peace of mind. Free deposits and withdrawals make Virgo CX appealing but watch out for potentially high spreads. Virgo CX is a good exchange for Canadians who want simplicity and many cryptocurrencies. However, there are certainly other Canadian crypto exchanges that are just as simple to use that have lower spreads. For example, Coinsmart offers fewer coins but lower spreads which will save you a lot.

Pros:

  • Free deposits and withdrawals
  • Interac e-Transfer available
  • OTC Desk
  • NFT marketplace
  • Insurance for crypto assets
  • Fully regulated in Canada
  • USD and CAD accepted
  • Crypto education portal
  • Advanced trading features
  • Quick Trade available

Cons:

  • Advanced trading platform can be confusing for beginners
  • Relatively higher spreads than other exchanges 

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

NDAX.IO Review

10 Wednesday Jan 2024

Posted by in Canadian Crypto Exchanges

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NDAX is a beginner-friendly crypto exchange. It is the only Canadian crypto exchange that offers crypto staking. Many Canadians believe that NDAX is the cheapest crypto exchange in Canada with the lowest fees. NDAX offers free deposits, fixed withdrawal fees, and a fixed 0.2% buy/sell fee, which makes it easier to work out how much you will be charged per trade.

NDAX, a Canadian cryptocurrency exchange, offers a variety of deposit methods including Interac e-Transfer, Wire transfer, and Bank draft, all catering to Canadian dollars (CAD). This makes it a convenient crypto platform for Canadian users.

Pros:

  • Free deposits
  • No deposit/withdrawal minimum or maximum
  • Fixed 0.2% buy/sell fee
  • Wide range of coins available
  • Fast Interac deposits 
  • Send, request, and gift crypto to another NDAX user for free, instantly
  • Address whitelisting

Cons:

  • Only CAD deposits accepted
  • No credit/debit cards accepted
  • $4.99 flat fee for wire/bank withdrawals
  • Hidden fees (e.g. high spread)

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Netcoins Review

09 Tuesday Jan 2024

Posted by in Canadian Cryptocurrencies

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Netcoins is fast becoming one of Canada’s most reputable and trusted crypto exchanges. The exchange is also owned by Bigg Digital Assets, which is a publicly traded company. This can give you the ultimate reassurance that your funds are as safe as can be.

Netcoins is great for beginners because it is really easy to use. They don’t charge any fees when you deposit or withdraw money, which is a big plus. When you trade, the fee is only 0.55%, which is quite low. The spread, which is the difference between the buy and sell prices, ranges from 0.5% to 1.5%. You can add money to your Netcoins account through Interac e-transfer or bank wire, both popular and easy options in Canada.

Netcoins has a lot of good features including free deposits and withdrawals, excellent customer support and their own crypto card which offers 1% cashback paid in bitcoin on all purchases.

There are 30+ cryptocurrencies available to trade and they add more everything month. Not only that, but Netcoins has the largest referral bonus of any crypto exchange. If you refer a friend and they buy $100 worth of crypto, you’ll both get $25.

Pros:

  • Fully regulated crypto exchange in Canada
  • Owned by a publicly traded company
  • Wide selection of cryptocurrencies
  • Free deposits & withdrawals
  • Phone support
  • Crypto card
  • Large sign-up bonus
  • Beginner-friendly

Cons:

  • High trading fees
  • No debit/credit card purchases
  • Unclear how customer funds are held

Netcoins is fast becoming one of Canada’s most reputable and trusted crypto exchanges. The exchange is also owned by Bigg Digital Assets, which is a publicly traded company. This can give you the ultimate reassurance that your funds are as safe as can be.

Netcoins is great for beginners because it is really easy to use. They don’t charge any fees when you deposit or withdraw money, which is a big plus. When you trade, the fee is only 0.55%, which is quite low. The spread, which is the difference between the buy and sell prices, ranges from 0.5% to 1.5%. You can add money to your Netcoins account through Interac e-transfer or bank wire, both popular and easy options in Canada.

Netcoins has a lot of good features including free deposits and withdrawals, excellent customer support and their own crypto card which offers 1% cashback paid in bitcoin on all purchases.

There are 30+ cryptocurrencies available to trade and they add more everything month. Not only that, but Netcoins has the largest referral bonus of any crypto exchange. If you refer a friend and they buy $100 worth of crypto, you’ll both get $25 (please use our referral link if you decide to sign up and trade crypto with Netcoins).

Pros:

  • Fully regulated crypto exchange in Canada
  • Owned by a publicly traded company
  • Wide selection of cryptocurrencies
  • Free deposits & withdrawals
  • Phone support
  • Crypto card
  • Large sign-up bonus
  • Beginner-friendly

Cons:

  • High trading fees
  • No debit/credit card purchases
  • Unclear how customer funds are held

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Shakepay Review 2024

05 Friday Jan 2024

Posted by in Canadian Cryptocurrencies, Cryptocurrencies Trading

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Shakepay is a Montreal-based trustworthy Canadian exchange that offers free and fast deposits and withdrawals and is considered one of the best Canadian crypto exchanges for beginners. You can deposit Canadian dollars (CAD) via Interac e-Transfer or wire transfer. Verification can be instant meaning you can start depositing and trading right away.

Shakepay is fast, beginner-friendly, and has a modern interface.

Shakepay offers two coins only: Bitcoin and Ethereum.

Shakepay stands out for its free deposits and withdrawals, a feature that can be particularly attractive for users. However, it is important to note that the exchange has a relatively high spread, ranging from 1.2% to 2.5%. This spread, which is the difference between the buying and selling prices, can significantly impact the cost of transactions, making trading fees on the higher side.

Shakepay does not offer advanced trading tools because it is aimed at new crypto users and those looking for a simple, easy-to-use experience.

Pros

  • Fast and free deposits and withdrawals
  • Unique referral program
  • Responsive customer support
  • A highly rated app
  • Beginner-friendly interface

Cons

  • Only accepts CAD deposits.
  • Manual verification can take seven days.
  • Only Bitcoin and Ethereum are available.
  • High spread

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

2024: Day Trading Cryptocurrencies in Canada

30 Saturday Dec 2023

Posted by in Cryptocurrencies Trading

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Selecting a crypto exchange in Canada can be complicated because the country has strict regulations for crypto markets. Even major crypto trading platforms like Binance and ByBit had to leave Canada, leading to troubles for their Canadian users. So, it is essential to be careful and make a wise choice when picking a crypto trading platform if you plan to start trading in cryptocurrency.

We have thoroughly examined, compared, and tested all crypto exchanges available for Canadians to use. Our selection of the best Canadian crypto exchanges is based on a unique methodology that considers various factors, including compliance with Canadian laws, trading fees, security and safety measures, the availability of deposits via Interac e-transfer, coin selection, app ratings from Canadian users, as well as ratings from customers.

When choosing a Canadian cryptocurrency app to purchase digital assets, it is essential to ensure they offer several deposit methods and accept CAD. We prioritized exchanges that allow Canadian deposits with Interac e-Transfer and charge 0% fees. Quick and cost-effective depositing of Canadian dollars is crucial for Canadian investors, and Interac e-Transfer is the preferred method as it is the fastest and most affordable option for Canadians.

While global popular exchanges like Coinbase and Binance may offer the ability to buy crypto with Canadian debit or credit cards, this often comes with high exchange rate fees over 3%. To obtain crypto at the lowest cost possible, using a Canadian-based cryptocurrency exchange that allows Interac e-Transfers is the way to go.

Ease of use

Figure 1

It is important to find a Canadian cryptocurrency app that makes the process of trading crypto as easy and intuitive as possible. Some reputable exchanges have advanced interfaces with charts, like the one shown in figure 1, and order books suitable for seasoned investors.

What is the best way to buy crypto in Canada?

There are a few different ways to buy crypto in Canada, and the best method for you will depend on your needs and preferences. If you are looking for the simplest and easiest way to get started with buying crypto, then using a Canadian crypto exchange like Bitbuy or Newton is probably your best bet. Ultimately, it is up to you to decide which method is best for you.

What are the Crypto Exchanges Authorized in Canada?

Canada has tough regulations for crypto exchanges operating within its borders. Typically, decisions regarding the legitimacy of these exchanges fall under the purview of FINTRAC and the Ontario Securities Commission. For instance, the OSC previously prohibited Binance and ByBit for Ontario residents. As a result, these exchanges, facing stringent FINTRAC guidelines, opted to leave the Canadian market altogether. Nonetheless, some exchanges, such as Bitget and Kucoin, continue to operate in Canada without adhering to these regulations. While it is essential to weigh the associated risks and benefits. If you want to be safe, it is good to use exchanges that follow Canadian laws. Here is a list of those compliant exchanges:

Which crypto exchange has the lowest fees in Canada?

There are a few different crypto exchanges that are popular in Canada, and each one has its own fee structure. Some exchanges charge higher fees for certain trades, while others have lower overall fees. You might think that Shakepay or Newton have the lowest trading fees in Canada because they are advertised as “no-fee exchanges”. In fact, you pay high spreads on your crypto trading activities. After careful research, we found out that BitBuy is the lowest trading fee cryptocurrency app in Canada with only %0.2 trading fees and free deposits.

As a reminder – please exercise extreme caution when transacting with cryptocurrency. Cryptocurrency transactions are not reversible.

If an individual has reached out to you claiming to represent a company, entity, law enforcement, or any government official you should exercise caution and inform them you will contact the company, entity, or the authorities directly to verify if they are legitimate.

Below are a few examples of red flags to be aware of that may help you identify a scam:

Unrealistic Promises

  • Any entity that asks for your private keys, passwords, or any personal information.
  • Any third-party investment broker or brokerages.
  • Any entity that promises to give great returns if you send funds to them.
  • Any entity that wants access or control of your funds.
  • Any entity forcing you or pressuring you to pay back any debts with crypto.
  • Any entity attempting to blackmail or extort you.

Let us know if you have any questions.

Happy trading!

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.