Bitvo offers a crypto exchange platform and cash cards to its customers in Canada. The company currently supports BTC, BCH, DASH, ETH, and LTC.
Bitvo is a private company founded by a group of banking experts, financial specialists, and payment processing professionals.
In August 2018, the company launched its own cryptocurrency exchange platform catering not only to individual traders but also to institutional investors. With the new exchange, Bitvo hopes to transform the crypto trading sector in Canada.
No Competent Platform
In late 2017, the community saw a huge influx of crypto holders entering the market after the price of digital currencies skyrocketed. However, Bitvo noticed the lack of exchanges competent enough to service these coin owners, especially in Canada.
The company believes that the quality of customer service in the country’s crypto sector needs improvement. Furthermore, it found the way institutions handle payments inefficient given the resources technology currently available.
With those in mind, Bitvo launched its own crypto exchange to provide Canadians a better choice for trading in digital currencies. To add further, the company released a physical cash card tied to a Bitvo account that users can use to withdraw cash across the world.
Bitvo Exchange and Cash Card
Through Bitvo’s crypto exchange platform, users can buy, sell, and trade Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ether (ETH), and Dash (DASH). Every transaction made on the exchange incurs a 0.25 percent trading fee.
Bitvo offers trading pairs that include the five aforementioned digital currencies and CAD, Canada’s fiat currency. Clients can access the exchange through their smartphones or their desktop PCs anywhere in the world.
Users can deposit funds into their Bitvo accounts without any cost. Clients can also choose to load their accounts through Interac e-Transfer, wire transfer, electronic funds transfer, Canada Post load, or crypto wallets.
Withdrawals, however, incur a one percent fee with a minimum fee of CAD$15. Clients can opt to cash out via wire transfer, electronic funds transfer, Interac e-Transfer, or crypto wallets.
Meanwhile, clients can rest assured that their cryptos are safe as Bitvo secures the fund on a proprietary cold storage solution.
To supplement its crypto service, the company offers the Bitvo Cash Card. The card has access to the funds stashed on a client’s Bitvo account.
Account owners can use the Bitvo Cash Card to withdraw cash and cryptocurrency from any teller machine anywhere in the world. However, these ATMs must be compatible with Visa or Plus cards.
Transactions using the card incurs a processing fee of CAD$1 and a three percent foreign currency exchange fee.
With Bitvo Same Day Guarantee, clients can be assured that Bitvo will process their account registration, deposits, and withdrawals within the same day the transactions were made. The company also has a customer support service available every day of the week.
To be Canada’s Finest
Bitvo aspires to become one of the leading crypto exchange platforms in Canada. With the technology currently available, the company wants to modernize the payment services and to refine the customer service Canadians receive.
With these, the company hopes to make buying, selling, and trading cryptos easier for its clients.