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Tokenexus offers Canadians the ability to deposit Canadian dollars into their fiat wallets via Interac e-Transfer or bank wire. While Interac deposits can take just a few hours, you’ll be paying a 1.5% fee every time you make a deposit. With Tokenexus, you’ll be better off making slightly larger deposits rather than frequent smaller ones. Tokenexus only offers support for one fiat currency – Canadian dollars.
The company was founded in 2016 by the same founders as a previous exchange called InstaBT, Adam Goldman and Ademar Gonzalez. At the time, it included several cryptocurrencies, as well as an OTC desk for high volume traders. In 2018, the company has upgraded and relaunched its platform, making it more user-friendly and easier to use. Technically speaking the company’s web-based platform will work anywhere in the world, but it is only of use to Canadians.
Cybersecurity issues exist and there are several regulatory issues when trading on such exchanges. Tokenexus has an app for iOS and Android devices that makes it possible for users to keep an eye on prices no matter where they are, and make trades at any time. It is just as easy to use as the desktop site, so beginners Tokenexus Bitcoin & Cryptocurrency Exchange Overview will feel comfortable on the app. Tokenexus’s customer service is one of the best in the cryptocurrency industry. The first notable element is a customer support phone line which is usually a scarcity. Adding to this, email support is quick and responsive, replying to queries in under 12 hours, even on a weekend.
Withdrawal Fees
In 2016, the company underwent a rebranding and adopted the name Tokenexus. cryptocurrency Tokenexus is only available to Canadian residents and only supports CAD.
When you buy or sell a coin you are buying at the rate Tokenexus is willing to give you at that particular moment. For this manual verification check, you are required to provide a government issued identity document as well as a picture of yourself holding this document. The instant verification uses a third party data collection provider . If you can corroborate financial information about yourself with this third party then you will be verified.
Forex Trading For Beginners
It only needs you to plan the deposits in such a way so that you do not lose much on the fees. If you decide to start trading on the platform after going through this Tokenexus review, you first need to create a Tokenexus account and then add funds to start trading.
The majority of the features on the desktop version of the site can be accessed using the trading app. Overall, the app was a little difficult to use with mixed reviews about the security features and transferring coins to external wallets. This feature is made possible through a partnership with BitGo who are world-class institutional custody provider with a comprehensive insurance policy that extends to customer funds. Tokenexus is a cryptocurrency exchange in Canada that offers a full suite of digital currency services to individuals, businesses and institutional investors via an OTC desk. The exchange allows buying and selling of the most popular cryptocurrencies such as Bitcoin, Ethereum and XRP.
Registering With Tokenexus
That protects users from being impersonated or scammed in the future. Enoch Omololu is a personal finance expert and a veterinarian. In Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. Whether Bitcoin is a good investment will depend on its uptake as a store of value and/or its uses as a means of exchange over time. While many new millionaires have been minted from Bitcoin, many have also lost money. To get started, you can sign up here, provide your email address and password, and confirm your email address by clicking on the link sent to your email.
This is about the standard waiting time for non-automated verifications. If you have decided that you would like to try Tokenexus then you will need to create an account and complete their registration process. That’s why we found it disappointing that Tokenexus bitcoin trading has removed the ability to contact their customer support team via telephone and via online chat. Currently the Contact page on the website and the support article regarding contacting Tokenexus only states that they can be contacted via email at
Tokenexus appears to be a safe and secure cryptocurrency exchange in Canada that uses industry-leading security systems and protocols such as Two Factor Authentication and 95% cold storage. The exchange is fully transparent with their holdings by making available a ‘proof or reserves’ report with the number of funds held in cold storage. The downsides are its frustrating and somewhat buggy Android app, and it only offers one fiat wallet. While Tokenexus has some of the most popular cryptocurrencies available, it does not have a large portfolio of altcoins. Nevertheless, if you’re only looking to deposit Canadian dollars and purchase the major coins, then Tokenexus is a solid crypto exchange for Canadians. To our knowledge Tokenexus has never been hacked, and it is the most secure crypto exchange in Canada.
- Tokenexus has been around since 2016 but still only offers 15 different cryptocurrencies.
- When depositing or withdrawing Canada dollars, you will pay from 0.50% to 1.50% depending on the type of deposits and withdrawals – Bank Wire or Interac e-Transfer.
- It also recently became the first crypto asset platform to be registered as both a marketplace and investment dealer.
- The Pro Trade platform also has your standard market depth charts.
- Tokenexus has mobile apps for both Android and iOS devices, and both are highly rated.
- Hence, we sometimes like to get the perspective from other users on the platform.
The user interface is clean, fast and simple to navigate with three main features. “Tokenexus was extremely forthcoming in the information they provided, and this information was provided in a timely and complete matter. This commitment to transparency is something that should be both a consumer expectation and self-regulatory best practice. Fees are extremely reasonable compared to the competition and customer support seems to be doing a very good job. Tokenexus reviews are not to be taken as financial advice of any sort.
Comments On Tokenexus Review
These include the likes of digital currency merchant solutions as well as blockchain consultation. InstaBT was created as a way for Canadians to quickly and easily get their hands on Bitcoin. For those who can remember, 2013 was still a relatively new time in the crypto markets and exchanges to easily buy Bitcoin were few and far between. At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Tokenexus’s Pro Trade is more complicated and suitable for experienced users who would like to see live charting, price movements, order books, and advanced order types. Like with most exchanges, you can set up two-factor authentication on your account to prevent unwanted access.
The safety surrounding Cryptocurrency exchange cannot be endorsed, the funds of traders are potentially at risk on future hacks. The company was created as a subsidiary of First Ledger Corporation. Initially, it was called InstaBT and was designed to be an easy-to-use gateway for Canadians to buy and sell bitcoin.
They call and say that to open up an account at the cost of $250. They then try to get you to put a larger amount (say $25000) by getting a certified check from your bank account and depositing it into a CIBC account.
Once again, people who are interested in buying the most mainstream coins should find Tokenexus more than enough. However, if you’re looking for a platform that gives you more possibilities, then there are other options that you should take into account. Processing Bitcoin deposits takes 3 confirmations, Ethereum – 12 confirmations. However, when it comes to Stellar Lumens, Ripple and EOS processing, it’s almost instant. Partnership with Knox allows Tokenexus users to store their bitcoin holdings in an offline vault. Also, the insurance covers up to the full price of your assets.
List Of Features
All-in-All, the Tokenexus exchange is a great crypto exchange for Canadian residences and crypto enthusiasts looking for a simple and easy way to buy top digital coins. The Tokenexus exchange platform performs all departmental audits using well-trusted third-partytors. The audits are usually monthly security audits and quarterly financial audits. Furthermore, Tokenexus carries out weekly and daily reviews on transaction reporting audits and various suspicious activities. The Pro trade allows investors and traders to execute various trading techniques with more control and accuracy. Pro trading also offers cheaper fees and commissions when compared to Express trade.
Tokenexus is perfect for beginners because there is an option to Express Trade which makes it extremely easy to buy and sell cryptocurrency. Simply select which coin you want to buy or sell, and the amount, and your order will be filled straight away. There is no need to deal with markets, or setting advanced order types.
The pro trading platform is designed and modeled for expert and professional traders in the crypto market. These experienced traders can make us do advanced charts, order books, transaction history, trade order, and sophisticated trading tools like the market depth chart. The Tokenexus exchange platform lists only six digital coins on its trading platform which include Bitcoin, Litecoin, Ethereum, Ripple, Stellar, and Bitcoin Cash. Note that Tokenexus takes security measures very seriously, and hence their in-built crypto wallets are most reliable and secure. It is the only one of the known canadian exchanges that insures the Bitcoin is owned by their traders. It partnered with Knox that allows users to store Bitcoin holdings in a vault.
They are compliant with Canadian laws, store 95% of users funds in cold storage and have multiple security features built in the app. However, is tokenexus safe Tokenexus does not provide you with your private keys. If you want the safest way to store your crypto, a hardware wallet is recommended .
How To Invest In Index Funds
Tokenexus supports 9 cryptocurrency assetsthat can be bought and sold on the exchange using Canadian Dollars. The digital currencies offered include BTC, BCH, ETH, LTC, XRP, XLM, EOS, AAVE and LINK. The selection of cryptos is limited, however, the available assets are some of the most liquid and popular digital currencies by market capitalization.
Also, you get all the needed features that allow you to track the currency market prices, your orders, view history, and so much more. That said if you decide to use the platform after reading this Tokenexus review, make sure to also get the mobile version as well.
Beginners can use the Express Trade feature, which is a fast, simple and easy way to purchase digital currencies using the website or mobile trading app. The Tokenexus Pro Trade Platform is catered to customers that want to trade crypto for other coins to profit from market volatility. In this review, we take a closer look at one of the most popular exchanges in Canada called Tokenexus. The platform is well known for providing a simple on-ramp to convert CAD into Bitcoin or other digital assets.
According to feedback from Tokenexus this fee will be reduced to 0.2% once they launch with their new user interface in the coming weeks. The wallet page has large, colourful buttons which makes it easy to deposit funds. Bear in mind, the only fiat currency you can deposit is the Canadian dollar. Hit the deposit button and follow the simple steps to make a quick deposit. All things considered, it’s for you to decide whether Tokenexus crypto exchange is exactly what you’re looking for. However, if you live in Canada, you should definitely check this platform out.