QuadrigaCX is a Canadian cryptocurrency exchange platform based out of Vancouver, Canada. It is also Canada’s largest cryptocurreny exchange by way of volume. Through QuadrigaCX’s platform you are able to trade Canadian dollars (CAD) for Bitcoin (XBT), Bitcoin Gold (BTG), Bitcoin Cash (BCH), Ethereum (Ether), and Litecoin (LTC). They offer many methods to deposit and withdraw your Canadian dollars. Our guide will explain everything you need to get started.
1. Click “Register Now” and fill out the form.
2. Verify your account to enable deposits in your account.
3. Select a method to verify your account. (Note: Verification for two of the three methods is required to be able to access all deposits and withdrawals methods).
- Canada Post is an instant in-person verification, you need to bring a government issue ID and a proof of residence to a Canada Post location.
- Equifax requires you to answer questions regarding your credit profile, answer them all correctly and you’ll be verified instantly
- Online submission of your government issued ID and proof of address.
Note: QuadrigaCX direct verification times can be lengthy as they require manual verification from their compliance team.
4. Once you’re verified through one of the methods, simply click the CAD currency drop down menu followed by “Fund Account”. Select the method you would like to use. (Note: First deposit will be held for 24hours)
5. Now that you have funds in your account you can start buying cryptocurrencies. Click the “Dashboard” tab. Enter the amount you wish to purchase. (Note: Please make sure that the correct trading pairs are selected. Trading pairs describes a trade between one type of cryptocurrency and another. “XBT/CAD” = Canadian dollars for Bitcoin)
6. To withdraw your cryptocurrency, simply select the currency you wish to withdraw up top. Click “Withdraw” and enter the amount you would like to withdraw, the PIN and the new wallet address. (Note: Depending on the volume that is currently being traded at the time, it can take up to 20 minutes. You can also check the status of the withdrawal under your profile menu, under “Account History”)
7. To withdraw your Canadian dollars to your bank account, simply select the CAD currency drop down menu followed by “Withdraw”. Next you’ll be able to select which method is best to withdraw your currency. Please see the image below for comparison.