My experience with QuadrigaCx


#1

Good morning, everyone.

As a warning, I am a learner and so this post may not be of interest to the more experienced folks on this site. However, I did want to share my experience.

I started the process to set up an account several days ago and started with QuadrigaCx (there is a parallel process ongoing with Coinbase and I’m still arguing with the system about the validity of my credit card).

The information validation options include a hit to your credit report, a walk-in verification at a Canada Post location, as well as Google Authenticator app download.

I elected to go through with the Canada Post verification so I downloaded the form, printed it (who DOES that anymore?) and walked into my friendly neighborhood 7-11/Canada Post Office.

Armed with my driver’s license and the form, I submitted both for the approval of the nice lady behind the counter. After a few tense moments, success! I got a receipt that says I am a real person.

So naturally I rushed to login and start my highly lucrative coin speculation career only to discover that I wasn’t actually verified. An email to the support team resulted in an answer to a question that I didn’t ask but at least my query was replied to within 24 hours.

Fast forward a day or two and I get a notification from Quadriga that I do in fact qualify as a real person. Success?! Alas, no.

Here’s the comment at the bottom of my Canada Post verification on the Quadriga site:

Congratulations! At minimum, you now have access to Bank Wire, Interac Online and Flexepin funding options — completing 2 methods will unlock all available funding options.

Good news! So I tried to use Interac Online only for the system to respond that I need to complete 2 forms of verification (I thought that Google 2FA and Canada Post qualified as 2). I think I’m going to have to add the credit bureau verification as well but not without making Quadriga support spend time on my question as to why one part of the site says one thing, and another location something else. Not to mention the fact that there are spelling mistakes on their site and I HATE that.

So here’s what I’ve learned:

  1. in the end, if you really want to be secure, you have to leave your house and the warm comforting glow of you computer and talk to a REAL person IN REAL LIFE
  2. even sophisticated and established businesses can’t write clean copy for their websites
  3. if you want to be anonymous, you better be able to demonstrate you are who you say you are

Stay tuned…


#2

Thanks for the report @AftabSabir!

I have a Quadriga account and did the instant Equifax verification. I haven’t done the Canada Post, which means I can only use Bank Wire and Flexipin. If you are only trading cryptocurrencies (i.e. no Canadian fiat dollars) you don’t need to verify.

Google Authenticator isn’t about verification, it’s about securing your login.

The rules in Canada still aren’t clear on what is required, so the best crypto exchanges are following pretty strict compliance and verification processes.

Looking forward to your CoinSquare write up :slight_smile: