New to Bitcoin? Make sure you read the things you need to know about the Bitcoin Market in Canada. We've put all you need in this updated post!

QuadrigaCX Verification Timeline

2

Comments

  • CoinGuyCoinGuy Administrator
    How quick would it take one Branch of a bank to verify 150,000 accounts? Quadrigacx is the largest, most popular exchange in Canada, but many new people have unreasonable expectations. These are the kind of numbers they are dealing with, and many thousands come in each day. They want your money, their motivation is high. Personally I think it’s better they take their time, then hire questionable individuals with your precious identities. You will get verified. It will happen.
  • @vvanherk. On all the documents that you've submitted (I think it's 3)? Bear in mind. It's not like a Facebook account you're signing up for. It takes real people to look at what you've submitted. That takes time. Especially with a backlog to catch up on.
  • @CoinGuy @CrystalM3thod
    I understand they are busy - I don't have unrealistic expectations. It's no biggie. I'm just looking at getting into this for interest sake and some fun.

    Not really sure why you feel the need to defend them (other then the fact that they advertise on this site).

    For a such a break through technology that provides seamless transactions outside of the mainstream, I wonder why it is so difficult to reliably buy some, and exchange......
  • CoinGuyCoinGuy Administrator
    edited January 14
    vvanherk said:


    Not really sure why you feel the need to defend them (other then the fact that they advertise on this site).

    They don’t actually advertise. I am an affiliate. I chose to place their banner on here, because I trust them the most.

    I have used them for years, and even with hiccups, they always came through and made things right.

    I am only try to explain the delay, because I find people who are newer come to this with expectations that need adjustment.

    The challenge is also specific to Canada, because unlike the US, the banks have much more control here and make things very hard.

    I get your excitement. We’ve all been there. Please don’t take my words as an attack :)
  • I'm not trying to defend them. Like CoinGuy mentioned. Just trying to explain the delay. The verification process does take time. It's for security reasons. For you and them.
  • Exchange between fiat and crypto is hard everywhere, and Canada is better than most countries. The 21st century has seen the rise of KYC/AML laws and total surveillance of capital flows. It helps cutoff money to terrorist groups, rogue countries, and tax evaders, but has also imposed delays on honest people. Crypto can be used to evade those laws, and banks and governments don't quite know what to do about that, so it's always a shifting regulatory landscape with lawyers running the show.
  • maadiahmaadiah Member
    edited February 2
    Just to add my own datapoint, I applied on 19 January and today (2 weeks/10 business days later) am still waiting.
  • @CoinGuy

    While I'm certainly sympathetic to Quadriga being swamped with new applicants, surely a portion of this influx of new money could be used to hire more trustworthy employees to assist in verification?

    I'm just over three weeks now (submitted docs January 11) and haven't heard a peep from them. I've submitted a couple tickets asking for an update but no replies to that either.

    I don't think I'm being unreasonable in expecting that I should be verified by now.

  • It’s been more than 2 weeks the least that i’m waiting too.
Sign In or Register to comment.