Quebex exchange review: is it good or bad?
Finding a good cryptocurrency exchange is very difficult. You have to read many reviews, avoid scams, compare fees, and search for the best terms. Quebex seems to be a decent choice, but is it really trustworthy? Read our Quebex review to find that out!
About Quebex
The company is relatively new as it was founded in 2016. It is a Canadian cryptocurrency exchange that is based in Montreal, Quebec. That is where its name comes from. The service is registered by local authorities and follows all the financial rules and laws.
To compete with other similar services, Quebex provides lower fees and always tries to improve the quality of its service. The simplicity of the website proves the ambition of the exchange, but this will be discussed a bit later.
What can you trade with Quebex?
The exchange does not have many cryptocurrencies to choose from. The short list includes:
- Bitcoin
- Ethereum
- Litecoin
Although there are only three coins, these are the most popular ones that most traders use. Each can be bought for the Canadian Dollar (CAD). It is likely for the service to expand this list in the near future depending on how its earnings grow.
Verification process
To ensure the safety of each customer, the exchange has created a verification process that must be completed by every registered client.
First of all, users are checked by using Equifax. This is a service that is a consumer credit reporting. It is one of the largest in the world and it is trusted by many financial companies.
Second, clients are asked to join a live video chat to confirm their identity. Keep your documents ready, you might be asked to show your passport. This step makes sure that no frauds enter the exchange and minimizes risks.
If the exchange is satisfied by your credit history, it will let you purchase up to $950 in BTC per day.
Wallets
Quebex provides cryptocurrency wallets for each of the coins it works with. It is completely free for all customers who work with the service. This makes the usage of the exchange much easier for everyone.
Payment methods
It is important to note that Quebex is a P2P exchange. This means that the payment methods completely depends on the seller. However, we can definitely point out the most popular services that are used here:
- Interac e-Transfers
- Bank transfers including debit cards
- PayPal
People also use other methods, but they are not so popular as the listed above.
Fees at Quebex
The exchange does not charge anything for trading CAD. However, you will have to pay 1% for using BTC, LTC, or ETH. This is a very low sum, but you have to remember that something will be taken by the payment systems too so that there would be no surprises once the funds are sent.
Customer support at Quebex
If you encounter any issues, the Quebex customer support will be there to help. It is possible to contact a specialist by using the following methods:
- A call to (888) 661-3358 where you will be asked to leave your contact information along with the problem
- A message in the email form on the exchange’s website
- Live chat support for registered users
- Facebook or a visit to the office
Users say that they receive quick replies that take less than a day. This is a good sign because it shows that the company cares about its customers.
Advantages and disadvantages of Quebex
The help our readers quickly estimate whether the service will be a good choice for them, we have prepared a list of positive and negative sides of the exchange.
Pros
- A good choice for beginners
- User-friendly interface
- Easy and high-level verification process
- Transparent fees
- High level of security
- Free cryptocurrency wallets
Cons
- Not enough cryptocurrencies
- Works only with the Canadian Dollar (CAD)
- Is only available for Canadian residents
- Payment methods depend on the seller
Customer reviews on Quebex
There are not many opinions about the service on the Internet. The main reason is that it is not very popular and works with a relatively small number of customers. However, on several trading forums, there were people who mentioned that they have worked with this exchange. We asked one of them to leave his opinion so that we could post it here.
Anonymous user
“I have been using Quebex since the last year. There was really no need to use it instead of any other exchange that I have used previously, I was just interested to see how it would work. Took me a day to complete the verification process, then I was allowed to use the website. I made my first trade with $100 to see whether I could get Litecoin. The person asked for a payment via credit card, so that’s what I did. The coins were sent to my wallet on the exchange in a few moments after the payment. Generally speaking, Quebex is easy to use, although it needs to develop so that there would be more currencies and users.”
Conclusion
Quebex is a safe and trustworthy cryptocurrency exchange that accepts only 3 crypto coins and works with the Canadian Dollar. It is officially registered and has its office in Quebec. Although the service is not that popular, it provides high-quality service. The verification process makes sure that no frauds enter the website and the low fees make it an attractive option for sellers and buyers. What do you think of this cryptocurrency exchange?