VirgoCX

Overview of VirgoCX

VirgoCX is a virtual currency exchange based in Canada that was founded in 2018. The company is regulated by FINTRAC, while with the status of exceeded. VirgoCX offers a range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and XRP. Although the exchange does not offer maximum leverage, it provides a user-friendly trading experience through web platforms and a mobile app.

Users can easily deposit and withdraw funds through bank transfers and cryptocurrency transfers. Additionally, VirgoCX provides educational resources such as market analysis and trading guides to support users in making informed investment decisions. The exchange offers customer support through email and live chat, ensuring prompt assistance when needed. Overall, VirgoCX has established itself as a reliable and accessible platform for virtual currency trading in Canada.

Pros and cons

Pros:

• Diverse Cryptocurrency Trading Options:

• VirgoCX offers a wide range of cryptocurrencies for trading, providing users with diverse options to build their portfolios.

2. Strong Security Measures and Routine Audits:

• The platform implements robust security measures, including two-factor authentication and routine audits, ensuring the safety of users' funds and data.

3. User-Friendly Trading Experience:

• VirgoCX provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate the platform efficiently.

4. Multiple Deposit Methods, Including Fiat:

• The exchange supports various deposit methods, including fiat currencies, offering flexibility for users to fund their accounts conveniently.

5. 24/7 Customer Support Through Phone and Email:

• VirgoCX offers accessible customer support through both phone and email, ensuring users can seek assistance or resolve issues promptly.

Cons:

• Limited Leverage Options:

• VirgoCX provides limited leverage options, which may be a drawback for traders seeking higher leveraged positions.

3. Regulation Exceeded:

• While being regulated by FINTRAC is generally positive, the fact that VirgoCX exceeded the regulation might raise questions or uncertainties about compliance.

Regulatory Authority

VirgoCX, operating under the Common Financial Service License, Regulation Number M19955733, has surpassed FINTRAC regulatory requirements. While holding a Common Financial Service License as VIRGOCX INC, this reveals an intensified scrutiny, potentially indicating an earnest pursuit of compliance with financial regulations mandated by the regulatory agency.



Security

VirgoCX EXCHANGE implements a comprehensive set of security measures to protect its users' funds and personal information. These measures include:

• Account security: VirgoCX implements strong account security measures, including two-factor authentication (2FA) and email verification. It also complies with PIPEDA (privacy act in Canada for protection of personal information) and does not sell or share user data without prior consent.

• Insurance: VirgoCX has 1 million CAD crime insurance coverage for cryptocurrencies held in custody with Coinbase Custody. This insurance protects against crimes such as theft and damages.

• Audits: VirgoCX engages trusted third parties to conduct routine audits, such as proof of reserve audits, to ensure the security of its platform. It also monitors for suspicious activities.

• Assets security: VirgoCX enforces institutional-grade control on all transactions. All fiat assets are held within a trusted banking partner in Canada, while crypto assets are stored offline with Coinbase Custody.

• Compliance: VirgoCX is both FINTRAC registered and approved as a Restricted Dealer in crypto assets by the Canadian Securities Administrators (CSA). It also takes a proactive approach to complying with all applicable laws and regulations.

• System security: VirgoCX takes multiple layers of security measures and stringent cybersecurity policies to protect its website and database.

These security measures demonstrate VirgoCX's commitment to protecting its users' funds and personal information. The exchange's comprehensive approach to security makes it a safe and secure platform for trading cryptocurrency.



Trading Market

The trading assets of VirgoCX are the following:

• CRYPTOCURRENCIES:

• Bitcoin (BTC)

• Ethereum (ETH)

• USD Coin (USDC)

• Dogecoin (DOGE)

• Uniswap (UNI)

• Bitcoin Cash (BCH)

• Litecoin (LTC)

• Chainlink (LINK)

• Stellar (XLM)

• Ripple (XRP)

• FIAT CURRENCIES:

• Canadian Dollar (CAD)

• United States Dollar (USD)

With VirgoCX, you can easily trade cryptocurrencies for fiat currencies and vice versa. The exchange offers a variety of trading pairs, including BTC/CAD, ETH/CAD, LTC/CAD, and DOGE/CAD. VirgoCX also offers margin trading, which allows you to trade with borrowed funds.

Cryptocurrencies available

VirgoCX offers a range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and XRP. These cryptocurrencies are subject to price fluctuations on exchanges, which are influenced by various factors such as market demand, trading volume, and market news.



Services

In addition to its core crypto trading services, VirgoCX offers a variety of other services to its users, including:

• Wealth: VirgoCX Wealth is a full-service trade desk for high-value transactions. It offers direct market access for cryptocurrencies with optimal price execution.

• OTC Direct: VirgoCX OTC Direct is a dedicated service for seamless execution of large block transactions over $50,000 CAD. It offers rapid large trade settlement and flexible settlements post-trade.

• Chat Broker: VirgoCX offers a chat broker service that allows you to trade cryptocurrencies with the assistance of a broker. The broker can help you with market analysis, order execution, and risk management.

• Foreign Exchange: VirgoCX offers a foreign exchange service that allows you to convert fiat currencies.

• API: VirgoCX offers an API that allows you to automate your trading strategies.

These services can help you to make the most of your VirgoCX experience and achieve your financial goals.

Virgo APP

The VirgoCX app is a mobile cryptocurrency exchange that allows you to buy, sell, and trade cryptocurrencies. It also offers a variety of other features, such as airdrops, IEO launchpad, price alerts, and a referral program. The app is available in English, Spanish, French, Italian, Indian, Korean, and Indonesian (Bahasa) languages.

To download the VirgoCX app, you can visit the VirgoCX website or your device's app store. Once you have downloaded the app, you can create an account and start trading cryptocurrencies.

Here are the steps on how to download the VirgoCX app:

• Go to the VirgoCX website or your device's app store.

• Search for “VirgoCX”.

• Click on the “Install” button.

• Once the app is installed, open it and create an account. You can now start trading cryptocurrencies.



How to Open an Account？

Here is a step-by-step guide on how to open an account on VirgoCX:

Step 1: Visit the VirgoCX website.

• Go to the VirgoCX website at virgocx.ca.

Step 2: Click on the “Sign Up” button.

• In the top right corner of the homepage, you will see a button that says “Sign Up”. Click on this button to start the account creation process.

Step 3: Enter your email address and create a password.

• On the registration page, enter your email address and create a strong password. Make sure to choose a password that you will remember.

Step 4: Agree to the terms of service.

• Before you can proceed, you will need to agree to the VirgoCX terms of service. You can read the terms of service by clicking on the “Terms of Service” link. Once you have read and understood the terms of service, click on the “I Agree” button.

Step 5: Verify your email address.

• You will receive an email from VirgoCX asking you to verify your email address. Click on the link in the email to verify your account.

Step 6: Complete your profile.

• Once your email address is verified, you will be prompted to complete your profile. This includes providing your full name, date of birth, and country of residence. You may also be asked to provide additional information, such as your phone number and occupation.

Step 7: Verify your identity.

• To comply with Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations, VirgoCX requires you to verify your identity. This can be done by uploading a copy of your government-issued ID, such as a passport or driver's license. You may also be asked to provide proof of address, such as a utility bill or bank statement.



How to Buy Cryptos？

Here is a step-by-step guide on how to buy cryptocurrency on VirgoCX, both through the website and the mobile app:

Buying Crypto on VirgoCX Website:

• Go to the VirgoCX website and log in to your account.

• Click on the “Buy” button in the top right corner of the homepage.

• Select the cryptocurrency you want to buy.

• Enter the amount of cryptocurrency you want to buy.

• Click on the “Review Order” button.

• Review your order and click on the “Place Order” button.

• Your order will be filled and the cryptocurrency will be added to your VirgoCX account.

Buying Crypto on Virgo Mobile App:

• Open the Virgo mobile app and log in to your account.

• Tap on the “Buy” button on the home screen.

• Select the cryptocurrency you want to buy.

• Enter the amount of cryptocurrency you want to buy.

• Tap on the “Review Order” button.

• Review your order and tap on the “Place Order” button.

Fees

Trading Spreads and Fees at VirgoCX:

In addition to regular transaction fees, VirgoCX applies trading spreads on bid and ask prices for different trading pairs. These spreads are categorized into tiers based on the assets being traded:

Tier 1 Assets:(Trading spread between 0.5% and 1.75%)

• USDC, BTC, ETH, LTC, SOL, DOGE, ADA, MATIC, XLM, DOT, SHIB, AVAX, BCH, XRP

Tier 2 Assets:(Trading spread between 0.8% and 1.95%)

• ALGO, APE, ETC, MANA, FIL, SAND, EOS, ATOM, KNC, CELO, GALA, XTZ, GRT, COMP, MKR, KSM, SNX, CRV, LRC, OP, CHZ, OMG, DYDX, BAT, AAVE, LINK, OCEAN, AXS, STORJ, SUSHI, UNI, APT, FET, LDO, ARB

Tier 3 Assets:(Trading spread between 1.2% and 2.5%)

• ENS, API3, LPT, FTM, ENJ, ZRX, QNT, ANKR, ACH, NEAR, LUNA2, HBAR, CVX, RUNE, ETHW, ICP, IMX, BLUR

For example, if you place an order to buy $100 worth of bitcoin and the trading spread is 50 basis points (bps), you will pay $0.50 for the transaction. The spread covers custodial expenses from our third-party custodian, Coinbase Custody, as well as VirgoCX's operational costs.

Deposit & Withdrawal

Certainly, here's the information presented in a table format for better clarity:

Deposit Fees in Canadian Dollars:

Method	Fee	Minimum	Maximum	Processing Time
Interac e-Transfer	Free	$0	$10,000/day	Up to 24 hours (typically within 45 minutes)*
Wire Transfer	Free	$3,000	Unlimited	0-3 Business Days*
Bill Payment	Free	$10/trans	$15,000/day, $25,000/7 days, $50,000/30 days	1-2 Business Days*
Credit Card	3.99% ($1 min)	$10/trans	$3,000/trans, $5,000/day, $10,000/7 days	Instantaneous
Debit Card	2.99% ($1 min)	$10/trans	$3,000/trans, $5,000/day, $10,000/7 days	1-2 Business Days*

Deposit Fees in US Dollars:

Method	Fee	Minimum	Maximum	Processing Time
Wire Transfer	Free	$500	Unlimited	0-3 Business Days*

Cryptocurrency Deposit Fees:

Method	Fee	Processing Time
All Cryptocurrencies	Free	Up to 24 hours (typically within 45 minutes)*

Customer Support

VirgoCX provides robust customer support through various channels.

Users can contact the company via phone at +1 (416) 583-1838 or reach out through email at info@virgocx.ca and support@virgocx.ca.

The platform maintains an online presence on Twitter (https://twitter.com/Virgocx) and Facebook (https://www.facebook.com/virgocx/), facilitating communication and updates.

The official website, https://www.virgocx.ca, serves as a comprehensive resource for information and assistance. With multiple communication options, VirgoCX ensures users have accessible channels for inquiries, support, and staying informed about the platform's latest developments.



Is VirgoCX a Good Exchange for You？

VirgoCX stands out as an excellent choice for beginner cryptocurrency traders due to its user-friendly interface, educational resources, and comprehensive security measures. The exchange's simplified trading process and focus on crypto/fiat pairs make it ideal for those new to the cryptocurrency world, allowing them to learn and trade with ease.

Based on the features, products, and services offered by VirgoCX, here are some target groups that may find the exchange suitable:

Beginners: VirgoCX offers a user-friendly interface and educational resources that make it easy for beginners to learn about cryptocurrency trading. The exchange also offers a variety of trading pairs, including crypto/fiat pairs, making it easy for beginners to start trading. VirgoCX's comprehensive security measures and regulatory compliance make it a safe and reliable platform for beginners.

Experienced Traders: VirgoCX offers a variety of advanced trading features, such as margin trading and futures trading, that are suitable for experienced traders. The exchange also offers competitive trading fees and a variety of payment methods.

Conclusion

VirgoCX provides a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and XRP, VirgoCX ensures a user-friendly experience via web platforms and a mobile app. Despite not offering maximum leverage, it excels in security, implementing two-factor authentication, email verification, and holding crime insurance coverage. With a comprehensive set of services, from crypto trading to a dedicated trade desk, VirgoCX caters to diverse financial needs. Its commitment to regulatory compliance and robust customer support consolidates its position as a reliable Canadian crypto exchange.

FAQs

Q: What cryptocurrencies are available for trading on VirgoCX？

A: VirgoCX offers a range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and XRP.

Q: What deposit and withdrawal methods are supported on VirgoCX？

A: VirgoCX allows users to deposit and withdraw funds through bank transfers and cryptocurrency transfers.

Q: What security measures does VirgoCX have？

A: VirgoCX employs strong security measures, including two-factor authentication, routine audits, and crime insurance coverage.

Q: Does VirgoCX provide customer support？

A: Yes, VirgoCX offers customer support via phone at +1 (416) 583-1838, email at info@virgocx.ca, and live chat on its website.

User Review

User 1:VirgoCX has been my go-to crypto exchange for a while now. Security's top-notch; I sleep easy knowing my assets are safe. The user-friendly interface is a big plus; easy for beginners. The variety of cryptocurrencies available is impressive, keeps my portfolio diverse. Customer support's been a lifesaver when I had issues. Only gripe？ Some trading fees are a tad high.

User 2:Gotta say, VirgoCX is solid. Regulation's a big deal for me, and they're compliant. Love the interface - sleek and intuitive. Never had liquidity issues, which is a plus during rapid market changes. They've got a bunch of cryptos, which suits my altcoin itch. Had a minor prob with withdrawal speed once, but support was on it. Also, thumbs up for privacy measures!

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.