Quadriga CX started out conducting local trades in November. With a staff of five, the company launched its online currency exchange in December. It left beta at the end of January and now boasts over 1,000 users. The platform offers multiple funding and withdrawal options, and is set to add Dogecoin and Litecoin trading in the future.
The ATM, a Lamassu Bitcoin Machine, cost Quadriga CX US$5,000. The startup expects to receive three more ATMs in a week or so. Quadriga CX’s office (332 Water Street) in Gastown is also home to a Litecoin miner.
Cotton is a director of the Bitcoin Co-op. On Saturday (February 15), he’ll be at the art and trade show and the currency and commodity exchange taking place as part of CoinFest.
The Georgia Straight interviewed Cotton at Quadriga CX’s office.
How would you explain, very briefly, Bitcoin to a newbie?
To a newbie, I would describe it as a decentralized, peer-to-peer payment system. It basically allows you to send payments from one user to another without the need of a central authority, such as a bank.
What’s the easiest way to get bitcoins in Vancouver?
The easiest way to get bitcoins in Vancouver is, in my opinion, our ATM, because you just walk up to it, scan your QR code, and within five seconds you’ll have the bitcoins in your Bitcoin wallet.
What sets your online currency exchange apart from the others in Canada?
There’s a few other Bitcoin exchanges in Canada. What mainly sets ours apart is the fact that we charge no fees right now. It’s a promotional thing. In addition to that, we have more account funding options and withdrawal options than any exchange in the country.
One of our main features is Interac Online. It allows any user to fund their account instantly. So, you can actually, from the comfort of your own home, fund your Quadriga CX account through your online banking with Interac Online and buy bitcoins instantly. It’s the fastest way to get bitcoins in Canada.