what is Tokenexus

Neither Bankrate nor this website endorses or recommends any companies or products. The combination of pairings available, the option to deposit and withdraw Canadian Dollars, and a strong local presence, all make Tokenexus an attractive option in the Canadian crypto market. You will need a cell phone with a North American phone number (+1 country code) to activate and use our two-factor authentication security protocol. Enter the amount that you wish to purchase/sell and click “Buy” or “Sell”. (When you enter the number of coins that you wish to purchase/sell, Tokenexus then gives you the expected Canadian Dollar value). In order to place a market order, select the crypto-crypto or crypto-Canadian Dollar pairing that you wish to trade.

For the average user looking to use e-Transfer combined with express trade, it works out as a total fee 1.70% for a deposit and purchase. Yes, Tokenexus is the most secure and trusted crypto exchange in Canada. Their servers are secured across multiple world class cloud providers and disaster recovery locations.

Final Thought: Tokenexus Review

Before making financial investment decisions, do consult your financial advisor. Tokenexus is very serious about security, so their built-in wallet is also one of the more reliable ones. One of the most exceptional aspects about it is that Tokenexus is the only one Canadian exchange that insure their users’ Bitcoins. Express Trade platform is a great option for beginners who are looking for an-easy-to use platform as well as clear navigation.

  • And to cap it off, depositing and withdrawing your bitcoin or Ether is completely free because Tokenexus covers the miner fees and gas fees, respectively.
  • Tokenexus Exchange has 2 methods for depositing Canadian dollars to convert into digital assets being a bank wire or transfer and also Interac e-Transfer.
  • Funding and withdrawals are only possible using Canadian dollars or cryptocurrency.
  • Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin XLM and EOS make up the cryptocurrencies available to trade at the time of writing, with plans to add AAVE and LINK to the portfolio.
  • The maker fee is comparable to the popular altcoin trading exchange Tokenexus, however, the liquidity on Tokenexus Pro is low which may become an issue for high net-worth individuals.

3)Tokenexus has an intuitive mobile app available for iOS and Android devices, enabling you to buy and sell no matter where you are. It is easy to use, so it’s perfect for beginners with limited experience with cryptocurrencies. Regarding Tokenexus’s deposit and withdrawal methods, it allows you to move your funds in and out of the platform by wire transfer or Interac e-Transfer.

China Debuts Digital Yuan At Olympics

This expands the number of trading pairs to 14 which shows the 24-hour trading volume and percentage change next to each pair. For example, Tokenexus is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. Reading through various best crypto exchange reviews online, you’re crypto exchanger bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.

what is Tokenexus

To find out more information and see alternative crypto exchanges that don’t have these issues, you can click on the jump links below. Express trading is trading made simple – all you need to do is select the crypto assets you’d like to buy, enter the dedicated amounts and click the purchase button. It is an ideal option for novice traders who are just entering the world of cryptocurrencies yet it also charges higher fees . The Express platform is the simpler option, and involves selecting the desired crypto assets to buy, entering the designated amounts and placing the purchase.

A Tokenexus Review For 2022: Features, Fees, Funding, And More

Like many of the other crypto exchanges in Canada, Tokenexus is registered as a Money Service Business and operates in accordance with all relevant laws in Canada. Looking to start trading cryptocurrencies through the Tokenexus platform?

The exchange is a reputable and trustworthy platform to buy Bitcoin or other digital currencies using Canadian Dollars . We have used other platforms but Tokenexus is by far the most user friendly and simple to use. Our contact, Vit, has been very responsive, helpful, and an absolute pleasure to work with. To use this platform you will need to have a North American phone number as well as provide an address in Canada. If you’re looking for a reliable cryptocurrency exchange that’s available internationally, you should consider Tokenexus, Tokenexus and Tokenexus. When using the ‘Tokenexus PRO’ version, the fee for makers is 0.10% and for takers – 0.20%. When using the ‘Express Trade’ feature, you will only pay 0.20% for each instant trade.

Tokenexus Review

Furthermore, Tokenexus is registered by FINTRAC as a Money Services Business . Before beginning to work in Canada, every MSB business has to be registered by FINTRAC. Tokenexus is a legitimate platform, registered with the FINTRAC as an MSB or Money Service Business. The platform is a regulated MSB or Money Service Business under FINTRAC. It can be a trustworthy choice if you are looking for an exchange platform. It complies with the Financial Transactions and Reports Analysis Centre of Canada or FINTRAC.

The company was founded in 2013 by Adam Goldman and Ademar Gonzalez as a subsidiary of First Ledger Corporation, initially launching under the name InstaBT. Tokenexus functions as a regulated exchange, as opposed to a peer-to-peer marketplace. As a result, Tokenexus’s fees are slightly higher than other platforms. Quick deposit time – As compared to other crypto currency platforms, Tokenexus has a fairly quick deposit and processing time. The platform is user friendly- Canadians can use this platform both on the website or by downloading the mobile app and start trading wherever they are and whenever they want. Tokenexus homepageAs a crypto currency platform, Tokenexus is suited for new cryptocurrency traders and seasoned investors. Founded in 2016, Tokenexus became a fully regulated crypto exchange in Canada after being licensed by the Ontario Securities Commission last November.

Essentially, you can set your own trading layout across your screen. We checked the spreads on the rate that we were getting from Tokenexus and the live market rate. There was not really any discrepancy which means bitcoin price that Tokenexus was indeed being honest in their pricing of the coins. If the instant verification does not work then you will have to use a more traditional method that requires documentation and manual checks.

  • That is, move your holdings to your own wallet after buying them on a crypto platform.
  • Tokenexus’s overall mission is to simplify the trade of digital assets for all Canadians.
  • You know you can trade safely on Tokenexus, as they routinely conduct financial audits, monthly security audits, and transaction reporting audits using trusted third parties.
  • In addition to providing traders with crypto-crypto pairings, Tokenexus also offers traders the largest number of crypto-Canadian Dollar pairings in the crypto marketplace.
  • Incorrect information could lead to the permanent loss of your crypto assets.

Based on a variety of Tokenexus reviews, this shouldn’t cause any issues. Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet. If you’re a Canadian crypto enthusiast, you have access to multiple cryptocurrency exchange platforms, both international and local ones.

From Aircraft Maintenance Engineer to heading digital marketing for several Series C-funded companies, I’ve had a unique journey, you can read my story here. I started this website to help people find coworking spaces, but now I write about business, personal finance, career planning & real estate. For signing up you have to provide your email address and password. Tokenexus is popular because of options like ‘Express Trade’ and ‘Pro Trade’. After working full-time for more than 12 years, I switched to working for myself and trying to earn a living online. Investment bank Haywood Securities gave a fairness opinion to WonderFi’s board on the deal, while Canaccord Genuity is the financial adviser to Tokenexus. The deal is expected to close in the first quarter, with Tokenexus’s president and chief financial officer, Dean Skurka, set to join WonderFi’s board.

Tokenexus Verifications

The exchange is strictly regulated FINTRAC and prohibits customers from other countries such as the US from using the exchange. US residents are not allowed to use Tokenexus and will need to find a USA cryptocurrency exchange. The fees are relatively cheap, however, over time it will add up to a considerable amount for investors.

what is Tokenexus

In order to make a Canadian Dollar withdrawal, go to the “Wallets” page and then click the “Withdraw” icon located on the right-hand-side of the CAD wallet. There is a minimum transfer of C$100.00 and maximum transfer of C$10,000. Users may also view trade histories and more on the Pro Trade page. Tokenexus currently supports Bitcoin, Bitcoin Cash, EOS, Ethereum, Litecoin, Ripple’s XRP, and Stellar’s Lumen.

As shown below, you may narrow the pair listing by selecting the crypto that you wish to purchase or trade. Alternatively, you may enter the name and select your preferred pairing. Upon creating an account, you will need to verify your email address, after which you will be prompted to verify your phone number. Tokenexus is currently only available in Canada and users must have a Canadian mobile phone number to register. These include charts, with the required tools to carry out technical analysis. This time I tried to fund the account but could only put $3000 in due to transaction limits.

What Countries Does Tokenexus Support?

The platform is suitable for Canadian citizens only and is considered to be one of the most popular and leading crypto exchange platforms in the country. Withdrawing crypto https://tokenexus.business/ from the exchange is as easy as depositing. This requires sending a withdrawal request, pasting the receiving address, and confirming the two-factor authentication process.

As a new Tokenexus user, you can earn a bonus of $40 when you sign up using this Tokenexus referral code . No need to enter the Tokenexus referral link – the right code is applied once you click on the referral link. Ask Any Difference is made to provide differences and comparisons of terms, products and services. CryptoManiaks’ team is comprised of cryptocurrency investors from all over the globe, coming from industries such as finance, engineering, development and data science. While Tokenexus’s fees appear to be higher than some other platforms, as previously mentioned, I like that the costs are stated up-front rather than being hidden. I see this as an indication that Tokenexus cares about providing customers with the best service experience and that all customer questions or concerns are addressed.

Creating An Account With Tokenexus

It is a great crypto platform for both newbies and experienced investors. In terms of size, it is bigger than Tokenexus and all the other crypto exchanges in Canada.

And to cap it off, depositing and withdrawing your bitcoin or Ether is completely free because Tokenexus covers the miner fees and gas fees, respectively. https://tokenexus.exchange/ Unlike Tokenexus, there are no trading fees for buying or selling crypto on Tokenexus, but they earn some money through the spread on their quoted prices.

Tokenexus Security Measures

After your phone number has been confirmed and your Tokenexus account has been verified, you can switch your two-factor authentication method toGoogle Authenticator. Once you have placed the trade, the order will appear within the “My Orders” section located on the bottom right-hand-side of the page. Alternatively, you may place a limit order and specify the buy/sell price.