Since going live in 2015, the exchange has offered investors secure and compliant crypto investing opportunities with advanced features, yet at slightly higher trading fees. It has launched programs through which Canadian crypto users can earn up to 7.4% APY on their assets and also offers benefits that include a Gemini credit card. Tokenexus is a Canadian digital currency platform, headquartered in downtown Toronto, with over 300,000 registered Canadian users. Tokenexus offers its Clients a simple, safe and secure platform for buying, selling and holding digital assets. Clients benefit from true global market pricing quoted in local Canadian currency and institutional grade security and market depth. Tokenexus’s Clients include those new to the digital asset space looking for a simple experience, right through to seasoned Institutional algorithmic trading groups. As a leader in the field, Tokenexus has chosen to work with Trulioo in building out their business.
Tokenexus continues to add new coins, services and resources that meet the growing needs of users and they will continue to do so in 2022. I look forward to continue investing and actively trading on the Tokenexus exchange and would recommend the platform to other Canadians over the other existing Canadian Crypto exchanges. Many cryptocurrency exchanges have a reputation for having less than stellar customer support.
They also align with their vision for how to structure a safe, transparent market structure for buying bitcoin. Getting started with making money through the Tokenexus referral program is easy. In addition, you can make money by referring other users to the service.
As you can see, you can access all of the functionality from this main admin panel. This includes the option to buy / sell and deposit / withdraw. When you buy or sell a coin you are buying at the rate Tokenexus is willing to give you at that particular moment. All you have to do is head on over to your “Wallet” section.
Easy First Setup Into Cryptocurrency
It requires you to register and sign up on its official website. For the process, enter your email ID and password and approve the confirmation link you receive in your email. You will be eligible for a $20 promotional discount once you fulfill the eligibility requirements. As you can see, Tokenexus’s fees depend on which deposit method you choose. However, they’re considered to be on par with the industry standard. Also, it’s fair to mention that if you use Tokenexus PRO, fees get lower.
The simple to use platform gives investors and traders access to the crypto market’s largest cryptocurrencies. The platform also offers convenient ways to fund Canadian bank accounts. Designed to cater to both novice and experienced bitcoin trading crypto investors and traders, Tokenexus delivers fast transaction speeds in a secure trading environment. Tokenexus is an online crypto exchange designed to support the buying, selling, depositing, and withdrawing of cryptocurrencies.
- Leverage is a useful tool, when used correctly as it increases the chance of great gains but in retrospect, it also increases the chance of loss that may exceed the initial deposit of the trader.
- Tokenexus also has a comprehensive insurance policy in place from BitGo for coverage in the event of any loss and works with top Canadian banks to accept Canadian Dollar fiat deposits.
- The fees for withdrawing CAD is the same as depositing depending on the payment method you choose.
- In case you don’t know where to start, check out Ledger Nano X and Trezor Model T first.
- Tokenexus has built in wallets in each user account that can be used to store your digital currency securely.
- In addition to this article, you should also check out the Bitcoin Trading Guide for Beginners and the Bitcoin for Beginners series of articles.
Amongst them, Tokenexus might request the business articles of incorporation along with other corporate documentations. If you were referred by a friend and they did not give you a link then you can use their referral code. We will cover this in more detail below in thereferral section.
How Does Tokenexus Work?
Tokenexus hasn’t experienced any hacks in the past and remains a highly secure and trusted cryptocurrency exchange. Tokenexus does not list questionable crypto assets either – only the most popular and time-proven cryptocurrencies get listed on its exchange. If you’re in a hurry, express buy will cost you a 0.2% fee per every CAD/CRYPTO trade. Express cryptocurrency sale will cost you 0.2% per trade, too. Although its services are still limited to the Canadian market, it is likely to scale the business to foreign markets in the future.
- Using these cards online is as safe as using any credit card to make purchases on the internet.
- So from the above it seems as if the most affordable method for you to fund your account is with a good old wire transfer.
- As long as one is in the region, they can easily sign up by entering and verifying their email address and phone number.
- Newton and Tokenexus seem to be the go-to onboarding platforms in Canada.
- In the second half of 2020, global markets recovered greatly.
- With PayPal,you can only buy and sell Bitcoin between PayPal accounts.
This platform has been useful to a lot of people, and it has gained popularity over the years because of the various features and benefits that are provided by it. Tokenexus operates as a cryptocurrency exchange that uses a policy of 95% cold storage of coins. This is the standard among cryptocurrency exchanges and protects the bulk of user’s assets from hackers.
Trading Risk Disclaimer
While beginners can take advantage of their easy-to-navigate site and software, it’s also great for more experienced investors. Tokenexus offers 69 cryptocurrency coins, margin trading, what is cryptocurrency and a program that lets you loan out your coins for rewards. We wouldn’t recommend dipping your toes into those waters until you’ve fully grasped cryptocurrency trading though.
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. In the Pro Trade platform, users trade crypto-CAD and crypto-crypto pairings. They can either place limit or market orders to pair on offer.
Deposit And Withdrawal
Tokenexus offers two trading platforms, namely Pro and Express. For trades of more than $50,000, you can utilize the Tokenexus OTC trading desk. Here you will have your own dedicated account manager and OTC desk trader to assist and support you where needed. There is a corporate option if you wish to trade under a company account, and the Tokenexus API is available for those looking to automate trading and make repeat purchases.
Yes, Tokenexus is one of the most secure and reliable cryptocurrency exchanges in Canada. Tokenexus also supports Canadian Dollar funding and Canadian Dollar-crypto trading. This removes many of the obstacles that investors and traders face across the market.
The information is needed in order to verify your identity via Tokenexus’s automated 3rd party identity verification service. Tokenexus’s new automated sign-up and onboarding process has made the entire account opening procedure even faster. Tokenexus delivers a simple to use exchange for those looking to gain access to the crypto market in Canada. The fees applied will be 0.10% when you place limit trades and 0.20% when you place a market order. It’s also worth mentioning that Tokenexus has a cold storage policy in place, which means that they keep 95% of all their digital asset resources under cold storage.
Key Features Of Tokenexus
Tokenexus was founded by Adam Goldman in Toronto, Canada in 2016. The company existed previous to 2016 but rebranded and improved the user experience to launch as Tokenexus in 2016.
- The company is First Ledger Corporation’s subsidiary unit, whose primary operation offers exchange solutions to investors.
- According to data from Blockchain_wallet, Bitcoin has had an increase from 41 million wallets to over 52 million in the past year.
- Investors who want more features and opportunities to use advanced trading techniques can instead use Tokenexus Pro Trade.
- For a list of reputable exchanges, go to our article on buying and selling Bitcoin.
- Extra tools for advanced traders such as Pro Trade, access to OTC and Tokenexus API.
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.
You have the option to withdraw funds via an Interac e-Transfer or a bank wire transfer. Funding and withdrawals are only possible using Canadian dollars or cryptocurrency. The API feature is mainly for experienced traders and it allows connection with 10+ markets, offering a range of crypto-to-crypto and CAD-to-crypto pairs. Mainly the crypto businesses which wish to automate their trading processes like algorithmic developers, traders, or institutions use this facility. Customers who do not pass automated identity checks can then undergo manual review processes. Tokenexus is a Canadian crypto trading exchange that provides access to 7 digital currencies on its platform. Get $40 using the Tokenexus Referral Code or clicking the referral link.
You can either use it as an SMS based 2FA or you can sync it with Google Authenticator. These fees are actually quite reasonable and are below the rates that are charged by some of the other Canadian exchanges. For example, their Interac e-transfer withdrawal commands a fee that is less than that which is charged byCoinsmartfor example. While you can opt for the express Interac transfer, we are of the view that it not really worth the fees that are charged. It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck. The primary operation of First Ledger Corporation is the Tokenexus exchange although they do offer other solutions. These include the likes of digital currency merchant solutions as well as blockchain consultation.
Our evaluation of Tokenexus will include an assessment of the platform’s features & services, available assets, deposit methods, trading fees, security and customer service. Tokenexus is a solid choice for Canadian investors to look into. Excellent customer support means you’ll never be frustrated when something goes wrong. The transparency of their trading fees and spreads will give you assurance that the price you’re buying cryptocurrencies at is not higher than market price. The user interface and mobile app also greatly enhances user experience and conveniences so it’s not a hassle to trade and check your balances. Tokenexus’s sign-up process is very fast and most users are able to purchase Bitcoin and other cryptocurrencies using CAD almost immediately. It charges no deposit or withdrawal fees, which is an advantage over many other exchange options.
Tokenexus requires all of their users to enable two factor authentication by default. Whenever you log into your account or try to initialise any sort of withdrawal then you will be asked to complete this.
The convenience of near-instant CAD transfers has a slightly higher fee that should be taken into account. The only wallet/company that reply’s to any funding or user error issue promptly and efficiently. I had to explain in 3 times what happened although https://tokenexus.exchange/ I was specific in the original ticket. The helpdesk did not provided the responses expected to my problem in the first and second times. In the end the problem got resolved but took too long for the helpdesk person to understand the issue.
Step 3: Deposit Funds
Overall, the Tokenexus Pro Trade platform appears to lack advanced features and trading liquidity compared to popular exchanges such as Tokenexus, Crypto.com ExchangeandTokenexus. Tokenexus is available to customers that reside cryptocurrency news in Canada only. The exchange is limited to deposits in Canadian dollar deposits coming from Canadian banks and/or financial institutions. The exchange does not support payments in US Dollars, Euros or British Pounds.
Tokenexus supports a variety of payment options including bank transfers, cryptos, and debit cards. Tokenexus is among the most leading crypto exchange platforms in Canada. The platform is customer-oriented and aims to provide a user-friendly platform for both beginners and experienced investors. https://tokenexus.business/ Moreover, the Tokenexus exchange provides competitive trading fees as compared to other Canadian-regulated exchanges. Furthermore, the platform supports Canadian Dollar crypto trading and Canadian Dollar funding, which removes several obstacles that the investors and traders usually face.
If a provider is incapable of protecting your assets, then there’s no difference if it offers extensive features or very low fees. When writing this review, Tokenexus’s daily trading volume was $22.5M. Even though it’s quite low compared to some of the industry giants, it’s crucial to remember that Tokenexus is a Canadian-only crypto exchange platform. Tokenexus gives investors and traders access to the most popular cryptos in the market place. Users who already own Tokenexus supported cryptos may transfer these to the compatible crypto wallets provided on the Tokenexus platform. Tokenexus provides an online platform supporting the investing and trading of cryptos. Only 7 cryptocurrencies are supported on the Tokenexus platform.