VirgoCX Cryptocurrency Exchange Review : Pros & Cons

by Cws Team
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About VirgoCX Exchange

Founded in 2018, VirgoCX is committed to making crypto trading safe, easy, and affordable for Canadians. It is Canada’s top regulated cryptocurrency trading platform and is dedicated to streamlining the trading experience and empowering clients with advanced technology, superior liquidity and best-in-class security.

VirgoCX’s mission is to provide easy and affordable access for all Canadians to buy and sell cryptocurrency, including Bitcoin, Ethereum, Litecoin, Tether and more. Whether you are new to this world or are experienced, VirgoCX supports you throughout your journey.

Information Table

Exchange Name VirgoCX Exchange
Exchange Service Spot and futures trading
Exchange Launch Year2018
Made InToronto, Canada
Mobile App Android & IOS
Fiat Option Available
KYCRequired
2FA SecurityAvailable
Deposit FeeFree
Withdraw FeesDepends on Currency & Payment Methods
Supported CountriesCanada
SupportEmail & Live Chat Option Available
Official WebsiteClick Here To Visit

How To Register At VirgoCX Exchange ?

To register on VirgoCX , click Register Now button at the top of the page. You can also start creating an account directly through.

How To Register At VirgoCX Exchange ?

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your VirgoCX Account ?

There is no mandatory verification at Polyx , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal Fee of 0.0004  per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At VirgoCX Crypto Exchange ?

There are two main options for topping up your balance on VirgoCX Exchange. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

  • Go to the “Deposit” section from the “Assets” menu.
  • From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
  • The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
  • You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From VirgoCX Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your VirgoCX Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app.

Trading Fees

The absence of commissions on cryptocurrency trading as well as fees for Canadian Dollar deposits and withdrawals is a defining characteristic of VirgoCX. Individuals are able to purchase cryptocurrency by depositing Canadian dollars, and there are no associated trading fees. Transactions on VirgoCX are not subject to either a flat cost or a tiered fee structure.

 Instead, it covers its operating expenses by charging a spread charge, which is based on the difference between the bid price and the ask price, and the market pays it through its liquidity partners. In addition, VirgoCX is responsible for paying the blockchain network charge on Bitcoin, Litecoin, Cardano, and any other assets that have a trading cost associated with them.

Withdrawal Fees

The only time you will be required to pay a charge is when you remove funds from your VirgoCX account. When you withdraw fiat currency, such as Canadian or American dollars, the fee you must pay is only 0.5 percent of the amount you remove.

Users are able to withdraw Canadian and American dollars directly to their bank accounts free of charge, just like they do when they deposit funds. The transfer of some cryptocurrencies from an internal wallet to an external one will incur a network fee. Outbound blockchain transaction fees for Bitcoin, Litecoin, Ethereum, and some other assets have been covered by VirgoCX.

Features Of VirgoCX Crypto Exchange

No trading or deposit fees

VirgoCX’s straightforward cost structure is completely transparent, and the company does not charge any hidden fees or commissions. VirgoCX is a good exchange for anybody who is just starting in the cryptocurrency market because there are zero costs required for depositing funds and making trades here.

A variety of options for making a deposit

Among them are electronic wire transfers, Interac e-Transfers, and transfers from other cryptocurrency wallets.

Trade over 25 different cryptocurrencies

A large number of cryptocurrencies and coins are available for trade, in addition to two fiat currencies, which are the United States Dollar and the Canadian Dollar.

High level of Security

VirgoCX makes it possible for Canadians to buy and sell cryptocurrencies in a way that is both convenient and safe. They protect your personal information and financial resources using cutting-edge technology, and traders and investors can utilize their accounts securely to purchase cryptocurrency without fear of losing their money.

Made for Both Aspiring and Expert Crypto Traders

They provide easy and affordable access for all Canadians to buy and sell cryptocurrency, including Bitcoin, Ethereum, Litecoin, Dogecoin and more. Whether you are a new or experienced trader, we are your trusted crypto trading partner that supports you throughout your journey.

Safe Trading Begins with Best-in-Class Security Systems

You are provided with the tools required to protect your funds on our platform. Your cryptocurrency is safe with our 2FA and SSL protocols as well as protection by a qualified custodian in Coinbase Custody. They also have a reliable banking and payment partner to allow for secure transfer of your fiat currencies.

Mobile applications are accessible for iOS and Android devices

With its clean and up-to-date user interface, the mobile application is equally as user-friendly and straightforward to understand as the desktop website. It enables you to make deposits and trades remotely, so even if you are away from your computer, you won’t lose out on any opportunities.

Conclusion

VirgoCX offers sellers and institutional buyers deep liquidity by providing a bigger trading volume for cryptocurrencies to its traders without any price slippage. This cryptocurrency trading platform offers a dedicated VirgoCX OTC trading desk, account managers, and provides people with personalized services from beginning to end.

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