|BTC/CAD : 370.09||LTC/CAD : 5.05||BTC/LTC : 59.00|
|High||375.00 CAD||389.90 CAD||5.40 CAD||6.89 CAD||59.00 LTC||59.00 LTC|
|Low||363.37 CAD||362.78 CAD||5.05 CAD||5.05 CAD||59.00 LTC||50.00 LTC|
|Vol||386.073 BTC||3865.860 BTC||93.261 LTC||441.424 LTC||0.025 BTC||0.026 BTC|
If your account has more than one failure on an EFT (either direct deposit or direct withdrawal) for any reason, each incident of failure will result in a $10 fee being charged to your account. This fee covers our fees associated with rejection on invalid banking information and NSF charges.
Please read this FAQ and/or go to our youtube channel by clicking here: https://www.youtube.com/user/cavirtex. You will find getting started guides and many other videos on the basics of CAVIRTEX, trading and Bitcoin. Also note one of the most important links on our site, open trades, which shows you a live view of all buyers and sellers of Bitcoins.
CAVIRTEX stands for Canadian Virtual Exchange. We are Canada's first Bitcoin trading market that allows you to buy and sell Bitcoins with Canadian dollars. We are continuously researching new fund transfer options for faster, easier deposits, and withdrawals with minimal fees. We hold and verify funds before orders are allowed to be placed. If you see an order to buy or sell Bitcoins on our site, you can be assured that the funds have been verified and you can accept to buy or sell at the price and quantities specified.
Click here and you will be taken to the Why Trust CAVIRTEX info page.
Before CAVIRTEX, most Bitcoin trading in Canada was through the Internet Relay Chat (IRC) network. People in chat channels would buy and sell from each other and have to trust each other to deliver either the BTC or the CAD. The users would then rate each other on how the transaction went (similar to ebay ratings).
This is a very time consuming process, involving tech-savy individuals that know how to use IRC, as well as register with the IRC gribble bot to establish a web of trust rating. The two founders of CAVIRTEX have IRC nicknames Grady2000 and virtex. We have both performed numerous buy and sell transactions on Freenode IRC network in the channels #bitcoin-cad and #bitcoin-otc. We are both registered with the Web Of Trust (WOT) gribble bot. See bitcoin OTC for more information.
After many transactions and the frustration of finding buyers and sellers through IRC, we decided to start CAVIRTEX. We wanted to leverage our technical expertise and business billing infrastructure to get up and running quickly. We launched the site in beta on June 8th, 2011. Currently, CAVIRTEX operates under a registered Alberta corporation in Canada and can be reached by phone or IRC. Our goal is to become the trusted source for Canadian Bitcoin transactions, comply with Canadian regulations, and continue to earn the trust of the Bitcoin community.
If your browser clears cookies when you close it, it will remove a cookie necessary for identification. Many browsers allow you to set this feature on or off. Try disabling the feature to fix the issue. Try using a different browser if you are still experiencing problems and be sure that the browser your e-mail client opens is the same one as you used to initially log in. Press log-in from the newly opened browser and not from the first one you tried to log in with.
In order to create barriers for money laundering and other abusive uses of our system as well as to comply with government regulations, we perform a type of due diligence known as KYC (know your customer) compliance for customers choosing to use payment methods shown here.
When logged into your account go to the account verification link and submit the documents
Bitcoin is not officially recognized by the Canadian government as a currency, stock or any type of good that has value. However, since the exchange of Canadian dollars occurs for Bitcoins, it is the exchange operator's responsibility to ensure that all money handling laws and regulations are obeyed on the Canadian dollar side of the transaction. For the Bitcoin side, CAVIRTEX is proactive in maintaining legal advice, working with politicians, as well as seeking out established brokers in Canada to determine the future of Canadian Bitcoin Exchange. We have the ambitious long term plan to work with the Canadian government to form the first regulatory framework for Canadian Bitcoin exchange.
Our limits are based on internal risk models and relevant national and provincial legislation.
We use cold storage for the majority of our clients Bitcoins. Click https://www.cavirtex.com/why_virtex and read point 6. You do not need your own wallet. You can use your CAVIRTEX account to send and receive Bitcoins. However, we do recommend that you download your own wallet from www.bitcoin.org and manage your own Bitcoin security. For cold storage solutions we recommend Bitcoin Armory found on the list at Bitcoin.org. Be warned that there are malware wallets. Always refer to Bitcoin.org, the developers and the forums before downloading any third party Bitcoin application.
Yes, we hold them in Canadian banks.
Yes we use www.cloudflare.com to protect our site; they act as the middleman between the internet and our site. They will block any malicious attacks while letting the non-malicious traffic through to our site.
Due to the uncertain regulatory environment we are only servicing Canadian Citizens at this time. We do have plans to expand but it is a low priority and we have no time estimates.
Our exchange software is capable of handling similar digital currencies and we are interested in offering more.
Yes, we have publicly available API feeds at the following links:
We also have a trading API available. However, as a safeguard against malicious use, it is not publicly available. CAVIRTEX will release its API on a case by case basis, upon approval by our customer service team. To inquire about our API, please submit a ticket http://cavirtex.uservoice.com and provide details on intended use.
For an overview of the functionality of the API please refer to the API Documentation.
Yes. To find out more about our shopping cart plugins and our other merchant services, please login to your CAVIRTEX account and fill out our Merchant Application.
No not now, however this feature is in development.
The email field is case-sensitive.
No. We are a true exchange where you must buy or sell. Once you have made your deposit, press the Open Trades link and you will see the live prices for buyers and sellers of Bitcoins. Go to our youtube channel and watch a video on how to trade.
Yes, it is planned of an upcoming release.
The first business day is considered the day you make the payment. However, sometimes you will miss your bank's cutoff time for when your bank actually sends the funds to us. Each bank has different cutoff times and processing delays; please call your bank to ask when those are depending on your payment method. In best case scenario let's assume you made a bill payment early today at 8:00AM your time, well before your bank's cutoff time of 10:00AM. Your bank would then send that bill payment to our bank in the nightly batch and we would receive it the next business day. Our processing team would see this deposit as approved and credit your account on the second business day. If you made your payment late today or in the evening, your bank would count that payment towards tomorrow evening's batch and we would not get it until the day after. For direct withdrawals, the situation is more complex. Let's assume it's Monday and you meet our cutoff time of 9AM. We will send the request to the bank the same day. The bank then counts this as business day number one. The funds may actually be withdrawn from your account late on Monday, but the bank must send us clearance of these funds. The best case scenario on when that can happen is end of day Wednesday (third business day). In the case of wire transfers, if your bank actually sends the wire on the first day and we receive it on the first day, you will then be credited the end of the second business day.
In the case of Direct Deposits to your bank account, if you meet our cutoff of 9AM daily and submit your request before then, the best case scenario is that the money will arrive in your account late in the evening on the same business day. This is largely dependent on the bank you are withdrawing to.
Confirming that you have access to your bank account in order to perform deposits or withdrawals from it protects your bank accounts from fraudulent activity.
In order to confirm your account, we send two micro-deposits of a few cents each to your bank account. You then add these to micro-deposits to the banking information page on your CAVIRTEX account. This will prove that you have access to that account. Once this is complete we consider your account confirmed.
If you remove an account and want to re-add it later, you will have to confirm the account again before using it with CAVIRTEX. You can only have one confirmed account at a time.
No, we cannot accept or send e-mail money transfers. We warn you that accepting EMT's for private sales can be reversed and should not be considered secured funds if you do not know the sender.
This is normal wallet behavior. Yes, the previous address is still valid and you may continue to send to it (eg. set your bitmining receiving address here). This behavior is by design to make your transactions more anonymous. See here for reference.
Please try logging in and out for the coins to appear. In rare cases you may have to wait up to 20 minutes after the 6 confirmations for the coins to appear.
For EFT's: the funds will NOT appear in your account the day that your bank account is debited. This is due to a clearing period that is imposed by the bank, whereby they hold the funds 1-4 days before releasing them to us.
For Online bill payments: they are faster then EFT's, but just like EFT's the bank does impose a holding period before the funds are released to us. Therefore, your CAVIRTEX account will NOT be credited the same day you make the bill payment.
Please note that deposits initiated in the afternoon are likely to enter business day #1 the following business day morning. e.g. Deposit initiated Friday at 4pm – Monday is the 1st of 3 business days required for processing.
As per our deposit page all processing times shown.
The bank reference letter must come from the same bank that you use with CAVIRTEX. The letter must include who you are, your current address, be printed on bank letterhead, include the branch's address, be stamped by the branch, and signed by a bank representative. The name of the banker must be clearly visible and verifiable.For a sample letter, click here. Letters that do not meet the following criteria will be rejected:
To submit your bank reference letter please visit the Account verification page, click on either Level 1 or Level 2 verified, scroll down to the bottom of the page and upload the letter from there.
On August 20, 2014 we added INTERAC Online as a deposit method to CAVIRTEX accounts. Due to the nature of the business we are faced all too often with fraud attempts. To support this automated method and to prevent fraud in general, we have implemented a 14 calendar day hold before allowing any withdrawals from any methods after depositing CAD with us for the first time. During this hold time, users will be able to trade with deposited funds but not withdraw these funds.
Please note that the 2 week wait is only for a first time deposit. After that you will be able to withdraw your funds right away.
This means that once the Canadian funds are in your CAVIRTEX account you will be able to purchase BTC right away. But you will have to wait 14 days to withdraw your CAD or BTC.
This hold feature may be temporary while we gather data through user testing, and we ask that you please understand the risk of fraud involved with pairing the traditional financial system with near-instant irreversible transactions.
Most BTC withdrawals will instantly appear as unconfirmed receipts in your personal wallet. In rare cases, Bitcoin transactions have been reported to take up to 24 hours to appear in the user's personal wallet. These delays are due to the Bitcoin network.
These situations are rare and beyond our control. CAVIRTEX does keep a record of all transactions and can show the sending address in the BTC transaction audit trail if needed. In all such cases, users have always received their withdrawn Bitcoins. To our knowledge, not a single withdrawal has gone missing to date. We advise all users to pay extra close attention to the copy and paste of their BTC address and to visually verify their address prior to withdrawing.
Please visit the Transaction history page when logged into your account.
There is absolutely nothing we can do. If this transaction shows up in your Transaction history as being sent, this means we sent the Bitcoins and have the publicly viewable transaction ID to prove it. Bitcoin transactions are NOT REVERSIBLE. Be extra careful when withdrawing and be sure it is to a Bitcoin address that you own or trust!
You will be able to sell your BTC for CAD and then be able to use the CAD funds in two ways: 1) Withdraw cash at an ATM or 2) Make a purchase at POS terminals. It is also the fastest way to withdraw CAD from your CAVIRTEX account to this debit card and no bank account is required!
In the interest of launching this new withdraw method quickly we have announced the Beta release of the prepaid debit cards. This involves human administration to load the cards, and low limits. We are working towards increasing the card and load limits. We are also working on making the withdrawal of CAD to the card automated and instant 24/7 the moment you press confirm!
Once your card is activated you can make a prepaid debit request at any time and you will be charged $1.50 for every $500 withdrawn. This will appear on your debit card statement as a fee deducted after the card is loaded.
During Beta, the daily limit for withdraw to your card is $1000 in 2 x $500 transactions. The overall card limit is $3000. We will not be able to load funds to your card if the balance exceeds $3000. We are working to get both the card limit and withdrawal limit increased as we establish more history with our banking partners.
The prepaid debit cards will work at most ATMs in North America and many POS terminals. They will even work with some international ATMs!
You must be a Canadian citizen and have a form of ID listed in question 16.
Please visit the account verification page, click on either Level 1 or Level 2 verified, scroll down to the bottom of the page and upload your ID from there. After you upload your ID, submit a Withdraw CAD request for Prepaid debit. If this is your first request, our administrative team will mail you a prepaid card package which includes a non-activated card, PIN number, instructions for activation, blank cardholder agreement and the terms and conditions for card use.
Debit Cards and MasterCards are sent via Canada Post regular mail, and can take 3 to 10 business days depending on where you are receiving the mail. A $10 fee is deducted from your CAVIRTEX account.
Step 1. Complete and sign page 1 of the attached cardholder agreement. All information must be completed or we will not be able to activate and load your card. Scan or take a photo of page 1 of the agreement and upload the file through the secure document upload section at the bottom of our account verification page under category "Other (receipts, documents, etc)" at account verification
Step 2. Update your occupation at the top of the account verification page when logged into your CAVIRTEX account. The occupation must be completed in order for us to activate and load your card.
Step 3. Once you have updated and submitted your information, please submit a ticket under the "Prepaid debit" category, making the subject "Card Activation Documents Complete". The ticket must be submitted with the same email address linked to your CAVIRTEX account. We will then proceed to activate and load the card. Once loaded we will reply and close your ticket.
Debit cards are now free! No fees will apply until the card is activated. The following table outlines the other fees associated with the loading and use of your card. Please note that some bank machines may charge an additional fee, set by the machine you are using, in addition to the fees listed below. Online statement and balance inquiry is included with your card for FREE. We advise you to use online banking for real time balance and statement inquiries.
|CURRENT FEES & PROGRAM DETAILS|
|Card Activation: $0.00||Advance Limit Added (Card Load)(2): $1.50||Deactivation: $3.00|
|Canadian ATM Cash Advance: $2.00||Can. Debit Card Funds Transfer: $1.50||Can. Requested Transaction Decline: $0.50|
|U.S. ATM Cash Advance: $3.15||U.S. Debit Card Funds Transfer: $2.25||U.S. Requested Trans. Decline: $1.80|
|International ATM Cash Advance: $7.65||Inter. Debit Card Funds Transfer: $7.65||Inter. Requested Trans. Decline: $4.05|
|Balance Inquiry: $1.75||IVR Balance Inquiry: $0.75||% Fee On All International Trans: 2.5%|
|Statement Fee: $0.00||Live Telephone Customer Service (CSR): $2.50||Negative Balance (Overdraft)(4): N/A|
|Monthly Fee: Prepaid Debit Card(3): $2.00||Monthly Fee: Dormant Account(3): $3.00|
Once your card is activated, you can make a prepaid debit request at any time and you will be charged $1.50 for every $500 withdrawn(beta limits).
The fee schedule for prepaid Mastercard is:
|CURRENT FEES & PROGRAM DETAILS|
|Approved ATM Transaction $2.00||Approved POS Transaction $1.50||Additional Advance Limit Added (Load/deposit) $1.50|
|Monthly Maintenance Fee $2.00||ATM Balance Inquiry $0.75||Live/Telephone? Customer Service (CSR) $2.50|
|Requested Transaction Decline $0.50||Dormant Account Fee $3.00||Balance Inquiry (IVR) $0.75|
|Percent Fee on All International Transactions 3.50%|
The fees listed in the table above are charged directly to your card balance and will appear on your debit card statement. An additional fee may be charged for cash withdrawals by the ATM you are using. These fees will be deducted from your card balance and are set at the discretion of the bank administering the machine.
If your card is lost or stolen, submit a ticket on our website immediately. We may be able to cancel the card for you and transfer those funds to a new card in your name. Any new card request is subject to the initial $10 fee. An additional administrative fee will be charged for this service.
No. Once funds are withdrawn to your debit card they cannot be transferred back into your CAVIRTEX account. You may only fund your CAVIRTEX account by depositing CAD via our existing methods.
No. You will receive a PIN for your card. You must memorize it and use only that PIN. PINs cannot be changed. If you lose or forget your PIN, it cannot be recovered.
If you are Level 1 or Level 2 verified you are automatically approved for the card. However, Level 1 or Level 2 verification is not required to receive a card. In our Beta state we do not have a “Prepaid Verified” status. In order to comply with the prepaid cardholder agreement, we do require that you upload one piece of ID (colour scan or photo of the front and back of the document) through the "Other" category in the document upload section. Please visit the account verification page, click on either Level 1 or Level 2 verified, scroll down to the bottom of the page and upload your ID from there. You do NOT require a bank account to have a prepaid card with CAVIRTEX!
Accepted ID types for prepaid debit card application include the following document types. This list does not apply to the cash or online verification procedure, only to the prepaid debit application.
The cardholder agreement requires your name, phone number, address, occupation, birthdate, mother's maiden name and email. If you are not willing to provide all this information on the form we WILL NOT activate your card so you should not order a card as there are no returns on cards mailed to users or re-imbursements of the $10 fee to mail a card.
Once you submit your completed cardholder agreement, our team will work (in order of applications received) to activate and load cards. Our goal is to complete this daily. However, depending on the volume of requests we receive for prepaid debit cards, this could take more than 1 business day.
Loading of the card will be easy. Simply create a withdraw CAD request for prepaid debit before noon (MST) and we load your funds the same business day during Beta with plans for 24/7 real-time loading coming soon! Requests submitted after 12:00 PM (MST) or on a weekend or evening will be processed the next business day.
Two-factor authentication (2FA) provides an added level of security for your funds. By enabling 2FA on CAVIRTEX you will be required to enter both your password and a cycling code from your smartphone to log into your account. For more information on 2FA in general see http://en.wikipedia.org/wiki/2FA.
Because of the nature of cryptocurrencies, we require that all customers of CAVIRTEX use 2FA after their cryptocurrency balance has reached a total value greater than $2500 CAD. This helps secure your funds in the event your system is compromised. If you wish to enable 2FA right away, you may do so at any time. We strongly recommend this as it is a great security feature for your account.
2FA is not strictly enforced on all accounts to encourage Bitcoin adoption.
Click here to view our transaction fees.
We are a true exchange with buy and sell prices that can change every second. The Open Trades shown on the top of our home page will always show you a live view of our current prices. You can go to our YouTube channel to watch our trading video.
Once the funds are in your account:
If you want to get filled on buy orders enter a higher Max CAD/BTC than what is shown on the trading screen. Our exchange software will always fill you at the best prices. For example, if you want to buy 100 BTC at the price of $20.00 and there is only 1 BTC available at that price, you can enter a higher price of $21.00 in Max CAD/BTC on the trade order and our exchange will fill your 1st BTC at $20.00 and the other 99 at the best prices we can find up to and not exceeding $21.00. This same logic holds true for selling and entering a lower price than market.
Daily means the last rolling 24 hour period. The same hold true for weekly; it is the last 7 days.
The first number shows how many BTC are remaining for buy or sell at the price specified. The second number is the total amount of the original order. For example, if you see 5.0000/7.0000 on the Buying BTC site this means that originally someone wanted to buy 7.0000 BTC at the price shown and a seller sold them 2 BTC resulting in a partial fill with 5 remaining BTC still wanting to buy at the price specified. The value you see is the current remaining price multiplied by the price.
Yes, we limit amounts and frequency of trades.