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He contends that Bitcoin is actually one of the most secure currencies in the world. “It can be so secure, sometimes it’s daunting to use. Only you know your password. If you forget it that’s it, because that information is not connected to any network.”

In addition to its advanced security features, Quadriga CX has also made a point of introducing a number of unique features and functions that make it stand apart from its predecessors, Cotten notes. “We’re putting pressure on early market entrants by doing everything they did, but exceptionally better. We have a lot more funding options as well charge much lower fees.”

It offers more account funding options and withdrawal options than any exchange in the country. One of the main features, Interac Online, is an industry first. It allows users to fund their account instantly from the comfort of their own home and buy bitcoins instantly. “It’s the fastest way to get bitcoins in the country,” he says. According to industry experts, this is a game changer for the Canadian bitcoin industry.

Another new feature is the ability to trade bitcoins for gold, in addition to Canadian and U.S. dollars – yet another industry first.

Quadriga CX is also the first bitcoin platform in Canada to hold a money services business (MSB) license from FinTRAC (Financial Transactions and Reports Analysis Centre).

Its per-trade rate of 0.5% is far below other trading platforms which charge 1% to 1.5% per trade. In addition the company has recently launched an ATM in Vancouver – the second in the city and the first Lamassu bitcoin ATM in the country, a technology platform that allows consumers to purchase bitcoins in less than five seconds. With the other bitcoin ATM, users have had to wait anywhere from 10 minutes to two weeks for transactions to be processed.