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A VirgoCX Review for 2022

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With cryptocurrencies getting on the radar of people from all walks of life worldwide, there’s been a surge in crypto exchanges.

Although most exchanges are located in or originate from the United States, many countries introduce their exchanges, with slightly different products and services from one another.

Let’s take a look at one of Canada’s most trusted crypto trading platforms in this VirgoCX review.

VirgoCX Review: Overview, Fees, Accessibility, and More

Founded in 2018, VirgoCX is one of the best cryptocurrency exchanges in Canada as it aims to simplify the buy and sell experience while empowering both rookie and seasoned traders with cutting-edge technology, flexible liquidity, and flawless security.

The firm claims to offer the best buy and sell prices in Canada which has helped VirgoCX rise in popularity.

To give you a better understanding of how successful VirgoCX is, know that the fast-growing platform recorded more than $300 million in total trade volume during the first half of 2021.

VirgoCX supports more cryptocurrencies than some of its competitors. You’ll be able to trade not only Bitcoin and Ethereum, but also Tether, Litecoin, Stellar, USD Coins, Bitcoin Cash, and… Dogecoin!

VirgoCX: How It Works

VirgoCX works similarly to many other crypto exchanges. To get started, you have to register an account using your email address and get your identity verified.

After confirming your identity, you can fund your account using Interac e-Transfers or via wire transfer. With funds in your account, you’re free to explore and start buying crypto! In most cases, you only need CAD $5 to start trading. The cherry on top? It’s free to trade and deposit on VirgoCX.

VirgoCX is great in the sense that it caters to both novice and experienced traders. There are two types of trading functions on the platform: quick trade and advanced trade. Quick trade is specifically designed for beginners as it takes care of small to medium size orders.

Advanced trade, on the other hand, provides the seasoned trader with more context such as technical analysis, charting tools, recent transaction history, and order book depth.

For traders who are hoping to engage more than $30,000 CAD in transactions, VirgoCX Over-the-Counter (OTC) is here to help. This is a full-service trade desk that provides greater liquidity and anonymity. Traders at this level will have direct OTC account managers that offer customized care from beginning to end.

Besides crypto trading, VirgoCX also provides a reliable currency exchange rate and a low-cost and fast way of converting money, which is great for foreign exchange. To put things into perspective, VirgoCX is five times less expensive than banks and claims to have the best market rates. However, in order to use the OTC service, you’ll have to be ready to exchange at least $20,000 CAD.

If at any point you encounter any problems trading, you can contact VirgoCX’s customer support team via live chat, e-mail, or phone.

They’re available 24/7. Don’t worry if your first language isn’t English; VirgoCX provides live, multilingual support.

VirgoCX Pros & Cons

Pros

  • Extremely user friendly with a simple and intuitive dashboard
  • 24/7 live chat and email support available
  • No deposit and trading fees
  • Access to 23 cryptocurrencies
  • Android and iOS mobile apps available
  • Over-the-Counter (OTC) trade desk available for large trades
  • Registered with Canadian FINTRAC with a spotless track record of security

Cons

  • Only CAD and USD are accepted
  • Relatively small amount of liquidity compared to sites like Coinbase or Binance

Our Final Thoughts

With 23 cryptocurrencies available for trade, VirgoCX is one of the most sophisticated and user-friendly crypto exchanges in Canada.

Its intuitive interface and various features make it easy for beginners to get started in minutes.

Although the platform is only available in CAD and USD, it charges no depositing or trading fees (only a small withdrawal fee).

VirgoCX also follows top-notch security protocols so you can be sure that your money is in good hands.

Frequently Asked Questions

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