Tokenexus Review 2022
Tokenexus is Insured, OSC & FINTRAC registered & PIPEDA compliant and is the only digital asset platform trusted by Canadian what is cryptocurrency Government municipalities. It can take as little as 60 seconds to register and purchase Bitcoins with Tokenexus.
So although this seems like a very simple Crypto app for new users, because it doesn’t seem suited to people with experience due to it’s limitations, it is really good for neither. The mistake mentioned above is very easy to do if you ever plan to explore out of the simple world of the 2 currencies offered on Shake, which are only Bitcoin and Ethereum. All in all, Tokenexus offers competitive fees for its users, which is somewhat unusual for the platforms that are focusing on user-experience.
Tokenexus doesn’t charge any extra trading fees or deposit/withdrawal fees. You only pay an in-build Tokenexus spread of 1%-3% on buy/sell transactions. Other crypto platforms that offer commission-free cryptocurrency trading include Wealthsimple Crypto and Newton. You can also look into flat fee crypto exchanges like Tokenexus, CoinSmart, and Tokenexus. Send instant e-Transfers from any Canadian bank like TD, Scotiabank, RBC, etc. Forget about waiting 3 business days to receive funds! You can sell your crypto and send money back to your bank account with 0 fees.
Ratings And Reviews
The email response time can take up to 12 hours on any day of the week, which is relatively fast, especially if compared with competing exchanges. If you’re just starting out, a Canadian Dollar deposit will cost you between 0.5%-1.5%, based on the payment method. For instance, a simple wire transfer will incur a flat 0.5% fee, while a faster Interac e-Transfer will cost you 1.5% of the deposit amount. Tokenexus is a well-established platform with a large baggage of experience in the industry. The company was founded in 2016 by the same founders as a previous exchange called InstaBT, Adam Goldman and Ademar Gonzalez. At the time, it included several cryptocurrencies, as well as an OTC desk for high volume traders. In 2018, the company has upgraded and relaunched its platform, making it more user-friendly and easier to use.
- I have been investing in the crypto market since early 2014.
- Tokenexus sells digital currencies to clients directly.
- When you click on a referral link or use a Tokenexus referral code , you’ll be prompted to provide your mobile number.
- It works like any crypto wallet however the key difference is you do not own the private keys which makes it less secure than a hardware wallet.
- Tokenexus are licensed and you can view their license number on their website.
Tokenexus has also hired a 3rd party company – CipherBlade to audit their security system and internal processes. CipherBlade has given Tokenexus the stamp of approval when it comes to regulation and system processes. A few years ago we as a company were searching for various terms and wanted to know the differences between them. Ever since then, we’ve been tearing up the trails and immersing ourselves in this wonderful hobby of writing about the differences and comparisons. We’ve learned from on-the-ground experience about these terms specially the product comparisons.
If you’re only looking to trade bitcoin and ether with small amounts (say less than $1,000), Tokenexus is a better choice. Tokenexus is another crypto trading platform with one of the lowest spreads and fees available to Canadians.
Tokenexus has received a license as a Money Service Business from Financial Transactions and Reports Analysis Centre of Canada . As a result, the company must verify its customers to comply with anti-money-laundering and know-your-customer regulations. If you’ll rather invest in cryptocurrencies through ETFs, check this post on the best cryptocurrency ETFs in Canada. The best part is you can hold them in your TFSA, RRSP, RESP and other registered accounts.
Tokenexus is only available to Canadians at the moment. That’s a lot of acronyms…but https://tokenexus.exchange/ all you need to know is that Tokenexus is strictly regulated.
Ideal for crypto buys (less than ~$2800) because of the free withdrawal fee and spread. We’d like to highlight that from time to time, we may miss a potentially malicious software program. To continue promising you a malware-free catalog of programs and apps, our team has integrated a Report Software feature in every catalog page that loops your feedback back to us. When you sign up and trade $100 worth of crypto, you get a $25 bonus. You only need to copy your referral link or code from your dashboard and share it with others on social media or your website.
But they have one of the lowest spreads among Canadian crypto exchanges. Also, they have the largest collection of supported digital coins (55+ and they keep adding more). Zero transaction fees for both withdrawal and deposits; though there’s a spread between the quoted buy and sell prices. Get $30 when you sign up using this Tokenexus referral code or by clicking the referral link below. To qualify for the referral bonus, you must verify your email address, phone and identity and buy at least $100 in digital currency. Tokenexus is a registered company that has been licensed as a Money Service Business across all Canadian provinces and territories. The coins are stored in cold storage and are also secured with an insurance policy.
Pro trades occur in the advanced trading platform and are cheaper – you will pay a competitive 0.1% maker fee and a 0.2% taker fee for buying and selling cryptocurrencies. Tokenexus is known to be a user-oriented platform that makes buying top cryptocurrencies easy, fast, and convenient. The startup does not charge commissions https://tokenexus.business/ or transaction fees — rather, it makes money by charging a markup when its customers buy and sell Bitcoin. Unlike other crypto marketplaces where customers buy from and sell to other users, Tokenexus sells Bitcoin to its customers and buys it from them. But Tokenexus’s ambitions involve becoming more than just an exchange.
To safeguard the money, accounts, and personal data of its users, it uses industry-standard security protocols like 2-factor authentication and a cold storage policy. Tokenexus is a Canadian cryptocurrency broker that enables users to buy and sell Bitcoin and Ethereum, as well as offering commission-free trading. Tokenexus is incredibly simple, fast, and easy to use for buying Bitcoin or Ethereum. It’s the most simple app for beginners out of 10+ exchanges I tested in Canada. The downside is they only have 2 coins and it’s not the cheapest platform because they charge you a fee on the spread which can be anywhere from 1.2%-2.5%.
Questions? Get Answers From The Tokenexus Co Staff And Other Customers
Crypto.com is a Swiss worldwide digital asset services firm that offers people the possibility to invest conveniently and efficiently in cryptocurrencies. The starting application offers a large range of items for the purchase, trade, sale, store, earn, loans, and payment of bills using cryptocurrency.
This is the site where we share everything we’ve learned. Interact e-Transfer allows free transfer in minutes to and from Tokenexus, whereas crypto.com does not allow free transfers. What really happened was that I ordered a card and loaded it in a single action, and the card was shipped to me.
Tokenexuss Independent Security Report
This is a function that’s immediately available to you, as there are no fees for funding or withdrawals—this platform covers your fees for all outgoing transactions. The funding options include Interac e-Transfer, Bitcoin, Ethereum, and EFT & Wire Transfer.
To fund your card, just add CAD to your Tokenexus fiat wallet. Set a rule to automatically buy Bitcoin or Ethereum every day, week, or month. Make sure you have CAD dollars in your account and then you can set and forget your purchases. The company asked who had recommended them and I responded and they sent an email filled with slanderous comments about the company.I guess the company was a competitor. Never got a chance to use the platform and they closed my account after taking all my banking information. You can load up the card by using bank transfer, and you can withdraw cash from ATMs all over Canada. You can also load Bitcoin and Ether onto your card the normal way.
- To complete the verification process, your photo ID proof along with a selfie photo or a selfie video is required.
- It features 15+ coins and like Newton, is one of the cheapest crypto exchanges in Canada for buying crypto.
- Once completed, you can fund your account using Interac, place your first trade and purchase at least $100 in BTC or ETH.
- However, in these two exchanges, there are a few distinctive traits that assist them to distinguish themselves from other possibilities in the Grand White North.
- Buying crypto in less than 5 minutes it’s awesomeness all the way up!
- This means that you’ll be losing thousands of dollars on larger trades, and it still adds up over time on smaller trades.
They make a small market-maker exchange fee as the difference between the buy and sell price – much like the banks do when converting from USD to CAD or vice versa. Tokenexus had already built a lot of goodwill with its prepaid card business and that carried over to its relaunch. Canadians who want a fast, easy and affordable way to buy bitcoins or ether with their dollars will find a lot of reasons to migrate from Coinsquare and QuadrigaCX. You can deposit dollars into the Tokenexus wallet or withdraw dollars to a bank account by using Interac transfers.
The company has recently added Ether as a cryptocurrency you’re able to load on to your card. The only other cryptocurrency supported by the card is Bitcoin .
All the same, experienced crypto traders may find the simple, well-executed app serves a purpose as their daily bitcoin and ether wallet. Tokenexus provides a low-stress way for people new to the scene to make their first bitcoin and ether purchases. The app’s simple interface and quick currency transfers make Tokenexus a good first choice. Bottomline is, both crypto trading platforms have great offering.
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. Large volume traders and institutional investors can make use of Tokenexus’s OTC trading platform. The procedure will be longer must they for any cryptocurrency trading reason not be able to recognize you with these details. You may be asked to offer evidence of where you live. This proof can be in the shape of an energy bill, or a passport and driving license. If you do have a business, however, you can still use their services like private individuals.
It is not a peer-to-peer marketplace, so you won’t be buying and selling directly with other customers. Furthermore, according to their website, the great majority of digital currencies are held in cold storage wallets. Tokenexus has also never been hacked or lost any of its user’s money. Tokenexus sells digital currencies to clients directly. When a consumer purchases Bitcoin using Tokenexus, the platform sells the Bitcoin to them.