Canadian cryptocurrency exchange?

[Aunik]

I'm new to the exchange of cryptocurrency in Canada and I'm not sure what site I can trust. I have looked at https://www.vaultofsatoshi.com/ but they want to much personal information which I'm not comfortable giving online. I have looked at https://www.cavirtex.com/home and people have said that they take up to 120 days and someone has gotten money stolen from them so I'm not interested. I'n wondering if anyone knows a good Canadian cryptocurrency exchange which can be trusted? 

[scaryjam823]

I use coinbase.com to deposit to my bank. Not sure if it works with canda too, but it's  the best site to do so.

[Mac]

localbitcoins

[Aunik]

I use coinbase.com to deposit to my bank. Not sure if it works with canda too, but it's  the best site to do so.

Doesn't work with Canada

[Bloodyvalley]

Well, there are two bitcoins booths in Canada, one in Montreal and the other in Vancouver

[Aunik]

Well, there are two bitcoins booths in Canada, one in Montreal and the other in Vancouver

That is great but I'm in Toronto

[RuecanOnRails]

I use, and recommend https://www.cavirtex.com/home

I've used this exchange to both buy Bitcoins, and even sell some when paying for certain things which can't be paid using Bitcoin directly. The higher than most fees don't make it great as a trading platform for day traders, but great for entry and exit points.

 

They are secure, trusted, and do not have any of the misinformation/flaws you described.

Verification can take only a few days, to a week, maybe two. Assuming you correctly filled out and sent in all required documents there will be no issues with getting verified. The verification process did get slowed down during early to mid November when all exchanges got hit by massive volumes of users wanting to become verified. As with other exchanges, this caused them to fall behind due to overwhelming amounts of new users. Even then they did not fall more than 30 days behind; The exchange have long since been fully caught up and continue to process new verification's daily.

 

An account getting hacked is likely not the fault of the exchange, but of poor security by the account holder. Always use two-factor authentication with email verification and alerts, keep your account as locked down as possible. Do not keep large sums of money sitting on an exchange. Exchanges are neither your bank account, broker, or a secure method of Bitcoin storage. Use appropriate security and storage methods for both fiat and crypto based currencies respectively.

[nofxz]

localbitcoins.com

[Aunik]

I use, and recommend https://www.cavirtex.com/home

I've used this exchange to both buy Bitcoins, and even sell some when paying for certain things which can't be paid using Bitcoin directly. The higher than most fees don't make it great as a trading platform for day traders, but great for entry and exit points.

 

They are secure, trusted, and do not have any of the misinformation/flaws you described.

Verification can take only a few days, to a week, maybe two. Assuming you correctly filled out and sent in all required documents there will be no issues with getting verified. The verification process did get slowed down during early to mid November when all exchanges got hit by massive volumes of users wanting to become verified. As with other exchanges, this caused them to fall behind due to overwhelming amounts of new users. Even then they did not fall more than 30 days behind; The exchange have long since been fully caught up and continue to process new verification's daily.

 

An account getting hacked is likely not the fault of the exchange, but of poor security by the account holder. Always use two-factor authentication with email verification and alerts, keep your account as locked down as possible. Do not keep large sums of money sitting on an exchange. Exchanges are neither your bank account, broker, or a secure method of Bitcoin storage. Use appropriate security and storage methods for both fiat and crypto based currencies respectively.

I have set up there but I'm wondering how long it will take to deposit BTC?

[RuecanOnRails]

I have set up there but I'm wondering how long it will take to deposit BTC?

 

virtex waits 6 confirmations to deposit Bitcoins. Each confirmation is +/- 10 minutes, expect an estimated 1 hour for a deposit to be processed and "tradable".

After the transaction has propagated the network, it will be visible as a pending deposit with 0 confirmations (It may not show up  until 1 confirmation). You can see confirmations occur by watching the blockchain, in either a block explorer or through your wallet client via past transactions.

[dalekphalm]

I use, and recommend https://www.cavirtex.com/home

I've used this exchange to both buy Bitcoins, and even sell some when paying for certain things which can't be paid using Bitcoin directly. The higher than most fees don't make it great as a trading platform for day traders, but great for entry and exit points.

 

They are secure, trusted, and do not have any of the misinformation/flaws you described.

Verification can take only a few days, to a week, maybe two. Assuming you correctly filled out and sent in all required documents there will be no issues with getting verified. The verification process did get slowed down during early to mid November when all exchanges got hit by massive volumes of users wanting to become verified. As with other exchanges, this caused them to fall behind due to overwhelming amounts of new users. Even then they did not fall more than 30 days behind; The exchange have long since been fully caught up and continue to process new verification's daily.

 

An account getting hacked is likely not the fault of the exchange, but of poor security by the account holder. Always use two-factor authentication with email verification and alerts, keep your account as locked down as possible. Do not keep large sums of money sitting on an exchange. Exchanges are neither your bank account, broker, or a secure method of Bitcoin storage. Use appropriate security and storage methods for both fiat and crypto based currencies respectively.

Agreed, I also use this exchange with two-factor authentication. Never had an issue. Prices are comparable enough with rates from BTC-e and MTGox for $Price per BTC.

 

Unfortunately they don't have LTC yet, but they have announced some time ago that it was on their long-list of features they'd like to add.

[roid]

Bitstamp.net owned by Andreas MAntonopoulos , and Brian Armstrong one of the owners of coinbase.com are the only two people/exchanges I trust with my btc. Currently I only deal with bitstamp.net since technicaly coinbase.com is breaking California state law by exchanging a currency other than USD; coinbase.com is an established co. in San Francisco (i know I am very sceptical with my money especially virtual). You are probably fine using coinbase.com nothing will happen. Heres a link to that whole ordeal--http://bitcoinmagazine.com/10159/california-bill-legalize-bitcoin/

 

Never use Mt.Gox I hope you know why/keeping up to date with btc news.

Never use btc-e no one knows who owns that site and ive heard some really bad things about them stealing btcs and horrible customer service. Someone traced it back to some guy in Russia.

I wouldnt use any exchanges in Russia or China since BTC is banned in both countries.

 

This is just my opinion and background on btc exchanges, right now btc is like the wild west since theres really no regulations for these exchange sites, mt.gox or any other exchange can just shutdown tomorrow and run with everyones btc.

[RuecanOnRails]

-cut for misinformation- 

I apologize in advance if this reply sounds rude, condescending, or any other insulting manner.  I aimed to debunk and somewhat correct your post, with respect.

 

 

Your statement couldn't be more wrong.  Neither Mr. Antonopoulos, nor Mr. Armstrong own, or are affiliated with Bitstamp and it's management.  

Bitstamp is a UK based exchange owned by co-founder and CEO Nejc Kodric.   

 

Gox has been a sinking ship for the past couple years with a track record of continued incompetence.  Things will not improve without a change in management and structure; Which at this point I believe is unlikely.  History will repeat itself and we will see future flash crashes at the hands of Gox, assuming they recover and regain some of their lost trust.  

 

BTC-E is a rather reputable exchange, and one of the largest.  It is not hosted, or affiliated with Russia and not subject to the as you say "Russian ban".  BTC-E servers are hosted and run out of Bulgaria.  The hearsay and rumours are nothing but that, false and used to spread FUD.  Loss of funds can occur from mismanagement of your personal account.  BTC-E offers high encryption and security standards, not using these can make you susceptible to account hacks and loss of funds.  This is true of all exchanges, or any account login based service.

 

Issues with BTC-E customer service can be subject to a slight language barrier at times; This can become troublesome when attempting to communicate issues which you are experiencing.  I have used their support and had a relatively positive experience in doing so.  Responses were reasonably quick, adequate, and solved the issue I had without any complaints.  This of course, is when you consider the amount of users and estimated amount of support tickets generated per day, most repeat false complaints/inquiries.  

 

Bitcoin is not banned in China, while warnings have been issued and some contentiousness surrounding Bitcoins use; They remain legal.  Russia have made statements and intention of prohibiting it's use but no such action has taken place.  Russia is currently ranked second in active Bitcoin nodes on the network.

 

Please look closer into the background of exchanges and current state of legality around the world in Crypto-Currencies; You're post contains misinformation likely gathered from sensationalist headlines and quick searches through mass media.  

The wild west wasn't even the wild west as it has been portrayed by Hollywood movies.  Regulation will not improve, or stabilize Crypto-Currencies.  Regulations will only help in further stifling innovation by putting in place additional barriers of entry and re-establishing boarders which were rendered irrelevant.  

[roid]

Please take the time to actually read thoroughly on my post, everything I said is viable information dealing with btc exchanges. This is my background and opinion on certain exchanges you can either use it or don't all up to you. Nothing I said is misleading and there is no reason for me to cut it.

[RuecanOnRails]

Please take the time to actually read thoroughly on my post, everything I said is viable information dealing with btc exchanges. This is my background and opinion on certain exchanges you can either use it or don't all up to you. Nothing I said is misleading and there is no reason for me to cut it.

 

How can you say that?  Little to nothing was "viable information" your opinions had no backing in facts or reality.  You clearly stated incorrect information and portrayed it as truth.  

The first sentence has no truth in it what so ever.  Neither Andreas nor Brian own, or have anything to do with Bitstamp.  

Similarly the Second sentence continues to be filled with incorrect information, Coinbase is not affiliated with Bitstamp.  They are not the same company, exchange, or anything else you may want to assume about the two companies.  Coinbase is also only available within the US, they do not offer buy/sell services to international customers.

 

I could go on, but nothing said has truth or facts backing them up.  The only thing I would agree with is avoiding Mt. Gox, but half the community has been telling people that for over a year now.

[dalekphalm]

I'd just like to add that it looks like VirtEx appears to be trading LTC now. This must've just went live today or last night, as I don't recall seeing it yesterday.

[roid]

1. Never said Brain Armstrong is affiliated with bitstamp nor bistamp is affiliated with coinbase, please re-read post thoroughly.

2. Brain Armstrong co-founded coinbase.com a corporation in San Francisco. Law in California currently is no currency other than the United States dollar is prohibited for use including Bitcoin. Source:  http://bitcoinmagazi...galize-bitcoin/ as i stated in my initial post. You are welcome to invest or deal with a company that exchanges a currency other than USD in Calififornia, but at anytime the state can legally shutdown that company.

3. Never said BTC-E was affiliated with Russia, please re-read initial post, I said the owner who has not identified himself was traced back as someone from Russia. Also have heard numerous complains about the customer service situation there therefore I suggested not to use BTC-E as an exchange site. http://bittrust.org/btc-e, http://www.reddit.com/r/Bitcoin/comments/1rf0bh/warning_btce_selectively_scamming/, https://bitcointalk.org/index.php?topic=366785.0, https://bitcointalk.org/index.php?topic=146117.0, A lot more people have had bad experiences than people who have had decent/good experiences, the exchange has horrible ratings and customers have reported dealing with them for more than a few months. If I was a newcomer buying btc I would never go to an exchange with this bad of a reputation no matter how old or big it is, period. Mt. Gox was one of the first and biggest btc exchanges and now look at them, despicable. http://www.theverge.com/2014/2/19/5425220/protest-at-mt-gox-bitcoin-exchange-in-tokyo#ooid=Rva2txazo1GH2XzrYlNjeeewP6tBXF6Y

4. Technically China can still trade btc, but cannot convert it into the Yuan." But then the People’s Bank of China, responding to what it says was a wave of consumer concerns, declared in December that Bitcoin wasn’t a recognized currency and shouldn’t be used in the market, prompting Baidu and other Chinese firms to stop taking it as payment. As the extent of the real-world ban became clear, the price of a Bitcoin dropped to $345 on BTC China." Source: http://www.forbes.com/sites/kashmirhill/2014/01/06/china-bites-into-bitcoin/ 

5. Now regarding Russia and btc, its pretty much the same ordeal as China.-“Russia’s official currency is the ruble. The introduction of other types of currencies and the issue of money surrogates are banned,” the statement says, meaning that cryptocurrencies - the most popular of which is bitcoin - cannot be used by Russian citizens or corporations. Source: http://rt.com/business/bitcoin-russia-use-ban-942/

6. When dealing with money with an investment such as btc its is always a smart decision to take the time to learn about who you are dealing with and any governmental conflicts that may arise. From my own experience with law and foreign countries with their own regulations I would not suggest to invest in a company that is conflicting with their government's law or view on their business. In my opinion and own common sense I invest my money in a more safe company that has no complications or a extremely large amount of customer complaints and issues. 

7. Nothing I have said is misleading or inviable information, everything I have noted is supportive and suggestive in choosing a good exchange over a bad one.