I own some Cryptocurrency in a Coinbase account and I wanted to take some profit. I am based out of Canada as such I cannot sell my Cryptocurrency in Coinbase.
I set up both a Kraken account and a Quadirga account. In the hope that I can sell my Cryptocurrency using either one of the platforms. My Kraken account is still waiting to be Tier 3 verified – so today I decided to setup Quadriga CX account. Quadriga CX is a Canadian Cryptocurrency Exchange Platform. I find the Quadriga Exchange Platform to be easy to use and intuitive.
Once I have setup a login – I was easily able to transfer some Bitcoin Cash from my Coinbase Account to my Quadriga account. I was impressed with how easy and fast I was able to do the transfer. You go to Accounts in Coinbase, click send , enter the address from Quadriga ( you can find the address on the main page under balances – click on the fund button associated with the type of cryptocurrency ) and click send. In less than 10 minutes the Bitcoin Cash amount I send was available in my Quadriga account ! This was my first Cryptocurrency transfer between two exchanges and I was impressed with the simplicity and the speed !
I am still waiting to have my ID verified in Quadirga before I would be able to withdraw the virtual currency into cash ! The one thing I really liked about the Quadriga verification process is that it gave me a time estimate for how long the verification will take ( 48 hours ) . Kraken gave me no such estimate – so not really sure when it will be verified.
I will write a follow up post on how to convert Cryptocurrency to Canadian dollars once my Quariga account verification is complete !
Update : I had a fundamental misunderstanding of Quadirga ! You can convert your crypto currency to CAD/US dollars even without having your ID verification !