Quebex cryptocurrency exchange – January 2021 review
Buy, sell and trade bitcoin, Ethereum and Litecoin using Canadian dollars
1
Fiat currencies
3
Cryptocurrencies
Details
| Product Name | Quebex Canadian Bitcoin Exchange |
|---|---|
| Fiat Currencies | CAD |
| Cryptocurrencies | BTC, ETH, LTC |
| Deposit Methods | Bank transfer (ACH) |
| Trading Fee |
Cryptocurrency: 1%
Quebex CAD Balance: None |
| Deposit Fees | ETH: < $0.03 CAD per deposit |
| Withdrawal Fees |
BTC: 0.001-0.005 BTC
ETH: < $0.50 CAD LTC: 0.01-0.05 LTC |
Pros
- Easy to use and suitable for beginners
- Owned and operated in Canada
- Transparent fee structure
- Enhanced verification system
Cons
- Access to three cryptocurrencies only
- Currently only supports CAD
- Can only be used if you are physically in Canada
What is Quebex?
Quebex is a Canadian owned and operated P2P cryptocurrency exchange. With headquarters in Montreal, Quebec, the exchange was created in order to allow Canadians to buy, sell and trade cryptocurrency using Canadian dollars safely and easily. Unlike many other exchanges, Quebex is a peer-to-peer exchange, meaning the platform facilitates trades between buyers and sellers.
If you wish to make a listing on the site, here’s how it works:
- Choose whether you want to sell or trade bitcoin, Ethereum, Litecoin or Canadian dollars.
- Deposit CAD or the crypto into your account.
- Set buying/selling limits and your desired payment method.
- Set the price of the cryptocurrency you wish to trade or sell.
- Wait for a buyer.
Buying cryptocurrency on the exchange is straightforward using Canadian dollars:
- Browse the listings for bitcoin, Ethereum and Litecoin.
- Deposit Canadian dollars into your account.
- Select the trade you’d like to make after confirming the price, buying limits and payment method.
- Once your funds have been released to the seller, you can access your cryptocurrency and the trade is complete.
Which cryptocurrencies can I buy?
You can use Quebex to buy the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
Available countries
Quebex is available to Canadian residents only. You must be at least 18 years of age and located in Canada to use the platform.
Which payment methods are accepted?
Since Quebex is a P2P exchange, the method of payment will depend on the seller you purchase or trade with. You can usually transfer funds in the following ways:
- Interac e-Transfer
- Bank transfer
- PayPal
How much will it cost me to use Quebex?
Quebex charges a 1% fee on any bitcoin, Ethereum or Litecoin traded. A 0% fee is charged on any CAD traded on Quebex.
How fast will my funds be available?
Quebex has a $950 limit per 24 hours; however, this limit can be increased by verifying your identity and showing integrity through trades. If you purchase cryptocurrency valued under $950, the funds are available instantly. Trading more than this amount means you can still only access $950 per 24 hours, however you can trade up to your personal limit.
Trading or selling cryptocurrency for Canadian dollars on Quebex works differently, as Quebex does not act as an intermediary between the buyer and the seller. Instead, the buyer must deposit their fiat currency before the transaction can take place and the funds are then put into escrow. Once the seller has received the fiat currency, the trade is complete. If the fiat currency does not arrive in the seller’s account, the trade can be disputed using the “Dispute” button on the trading page.
Are there any transfer limits?
Quebex imposes limits on the amount of cryptocurrency you can purchase per 24 hours, but these limits vary depending on the level of verification you have attained.
| Verification | Limit per 24 hours |
|---|---|
| Creating an account with email only | $99 |
| Basic verification | $950 or less |
| Enhanced verification | $950+ (at the discretion of the Quebex team) |
There are also withdrawal limits in place which restrict users to withdraw $950 or the equivalent of $950 worth of cryptocurrency in a period of 24 hours.
Is it safe to use Quebex?
Quebex offers offline cold storage for deposited funds. To prevent fraud, the value of funds accessible on the platform amounts to less than Quebex’s own deposits on the exchange.
The exchange is only available through a secured SSL connection and user passwords are not shared with Quebex. Other anti-fraud services are in place to prevent any attacks or fraudulent activity.
There are different verification levels offered through Quebex. The most basic level of verification includes:
- Submitting your email address
- A phone number
- Creating a password for your account
- Background AML checks will be completed
In order to increase your trading limits and have access to more features on the site, you can additionally:
- Confirm your user information by completing an Equifax identity verification
- Visit the Quebex office in person with a valid government-issued ID
- Confirm your identity using video chat via the platform
Customer support
If you have a problem with a transaction or a question about your Quebex account, you can contact the customer support team by submitting a support ticket online or by using the online chat from your dashboard page. There’s also a toll free number listed on the website or you can send an email to the customer support team.
If you have any issues with a transaction and require assistance, there is a dispute button located directly on the trading page.
Pros and cons
Pros
- Easy to use and suitable for beginners
- Owned and operated in Canada
- Transparent fee structure
- Enhanced verification system
Cons
- Access to three cryptocurrencies only
- Currently only supports CAD
- Can only be used if you are physically in Canada
Next steps
If you’ve compared a range of options and decided that you’d like to buy cryptocurrency through Quebex, click on one of the “Go to site” links on this page. You’ll be securely redirected to the Quebex website where you can begin the registration process. You’ll need to provide your email address and create a password to get started, plus provide your phone number and ID to verify your identity and access higher transaction limits.