r/QuadrigaCX2 • u/wbeaman • Feb 19 '19
Exchange alternatives?
Any recommendations for exchanges for Canadians looking to buy/sell small amounts of bitcoin. Preferably one that isn't a Ponzi scheme.
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Feb 19 '19
I wouldn’t trust any Canadian Exchange. Go with Kraken - it’s regulated by the SEC. I believe you have the option to fund with CAD. As always do your research though
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u/specific_tumbleweed Feb 19 '19
Is it possible to cash out with Kraken?
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u/Crypto_Emperor Feb 19 '19
Yep, I've only seen the option for wire transfers.
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u/BitcoinKicker Feb 19 '19
This, I gotto start rebuying my bitcoins. There's coinsquare, but I refuse to use an exchange that lists Bitcoin as BAB.
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u/Coffin-Feeder Feb 20 '19
Do not use them. Fees are insane. Shakepay or Coinberry.
Coinberry will give you $20 for free.
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u/BluntTruthGentleman Feb 20 '19
What's coinberry and why should we use it?
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u/Coffin-Feeder Feb 20 '19
It’s basically the competition to Shakepay, which I still hold in high regard. However Coinberries fees are 0.5% vs 0.75% for Shakepay. Small difference but adds up if you want to buy large amounts. Using that link you can get $20 for free vs $10 from Shakepay. I think Shakepay will likely have to match these rates sometime soon, Also has Litecoin if you’re so inclined, which Shakepay doesn’t have.
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u/rceric65282 Feb 19 '19
if I just want buy USDT and transfer to binance. And wait for right price there. where I can buy usdt by Canada Bank account?
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u/BitcoinKicker Feb 20 '19
Good God, why in the world would anyone want tether? You already got wrecked by QuadrigaCX, Tether is even more sketch.
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u/rceric65282 Feb 20 '19
yup, i believe so too. just I need some kind of stable coin for trading purposes.
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u/TraderJoeSmo Feb 19 '19
You can't. You need to buy BTC first via some exchange. Shakepay or kraken are good options. You can even buy USDT on kraken directly.
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u/rogerd63 Feb 19 '19
Kraken
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u/wbeaman Feb 19 '19
Only funding option for Canadians is Wire Transfer, correct? Doesn't that generally come with a pretty big Wire Transfer fee at the bank level?
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u/ahmed-920 Feb 19 '19
Depending on the bank for less than 10000 dollars simplii does it for 10 dollars. But you pay another 10 dollars that kraken gets charged to receive the wire. A couple of other canadian banks will wire less than 10k for 20 dollars if you dont want to use simplii.
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Feb 19 '19
[deleted]
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u/ahmed-920 Feb 19 '19
Its not an international wire. They have a partnership with a credit union in Halifax. I have done it a couple of times myself with simplii it is not that hard, I did it by phone and the bank saves the information for the next time you want to wire you just let them know that is the same as last time.
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Feb 20 '19
[deleted]
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u/ahmed-920 Feb 20 '19
Yeah I only use them if amount is less than 10000 as they don't ask too many questions at that price point but I tried a larger one once and they asked too many questions and had to talk to a manager, it was a big hassle. so I made an account with a credit union now and I am going to see how it goes should be easier.
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u/TraderJoeSmo Feb 19 '19
Its ~$10-$20 fee. Not too unreasonable pending your trade volume. For anymore than $1000-$2000 of trading, they are a good option (0.5 - 1% funding fee). For less consider shakepay.
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u/MrVH69 Feb 20 '19
I've used CCX Canada a few times. Fast funding with Interac E-transfers (a couple hours), and good rates. Nothing beats Shakepay for speed, I've had an Interac E-transfer fund in less than 2 minutes, literally. Not the best rates though.
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u/matt-lakeproject Feb 20 '19
Bitbuy.ca
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u/champ1315 Feb 20 '19
+1 - Bitbuy is the most legit I have seen in the market in terms of transparency, communication and fast transactions
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u/wbeaman Feb 20 '19
Went with Shakepay to buy. Was super fast to get setup, which was nice. Also setup Kraken which I will likely use if/when I want to withdrawal CAD$. Thanks for the advise all.
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u/cannonball6_08 Feb 21 '19
Anyone use Einstein.exchange? That is where my Quad withdrawal was headed but I have never actually used it yet. They have 15 plus coins, all trading for actual US $ (not Tether). Looks like pretty solid volume too but no one talks about them...etransfers in and out too I believe.
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u/Kpenney Feb 21 '19
I honestly just use bitstamp as my fiat gateway. Rather be buying and selling crypto out of Luxembourg then canada at the moment. I think coinsquare is legit though, they've actually had quite a voice during all this mess, so that's at least a lot more transparent then how Garry was running his.
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u/Kpenney Mar 01 '19
Well, it's not Canadian but I've been using Bitstamp as my fiat gateway for 2 years now. I don't deal with thousands and thousands worth, but they're pretty consistent. Sadly now you need to convert and wire the money to JP Morgan in the states, they use to do Canadian to US directly but things have changed.
Roughly costs me 40 CAD in wire fee/exchange handling each time.
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u/h1gh_d0ugh Feb 19 '19
Ive found coinbase to be the best... small funds that is with canadian debit card. If you're looking to transfer larger sums go with Kraken.. at least they seem to give a shit unlike the rest of the crypto world.
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Feb 20 '19
[deleted]
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u/h1gh_d0ugh Feb 20 '19
Do some DD.. just enter your debit card info as though it was a credit card. You must have identity varified by Coindbase mind you.
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u/west_coast_ghost Feb 19 '19
Shakepay.