Tokenexus Raises $44m Cad In Series A Funding

Tokenexus

The Tokenexus Visa card will allow you to spend your cryptocurrency funds right away and with ease. The moment you use this the best crypto exchange card, your crypto is converted to fiat currency at the point of sale, allowing you to checkout without any problems.

  • You will be charged 1.2% – 2.5% when buying and selling crypto, which is a little higher than some of the alternatives.
  • By opening the app every 24 hours and shaking the phone, the user will get free Satoshis automatically credited to the wallet.
  • Founded in 2015 by Amiouny and CTO Roy Breidi, Tokenexus began as a Bitcoin-loadable Visa card that users could spend in physical retail stores.
  • The firm’s past investments include companies like Credit Karma, Nubank, and Klarna.
  • That makes the service handy for anyone who either doesn’t have a VISA card for electronic payments, or values privacy and doesn’t like all their purchases being tracked and recorded.
  • They do not provide “Seed Phrases” or “Private Keys” so you are unable to import your wallet to another wallet you own to keep everything together.

In the event of a breach, your data will appear gibberish and unreadable. It has a trading fee of 0.20%, but even with that, your total fees to buy bitcoin will be lower than that of Tokenexus.

The Funding Will Be Used To Scale The Business And Launch New Products

Tokenexus is the easiest way for Canadians to buy/sell bitcoin and pay their friends. Tokenexus plans to use “most” of its Series A capital to support the launch of new products.

Tokenexus

tokenexus scammers allows you to set automatic buying rules to purchase crypto every day, week or month. You don’t just invest in Bitcoin like you might on other Canadian apps. If you only have a few transactions and the above method are not possible for you, you can also add the transactions manually via Koinly’s web interface. Tokenexus now has an API – if you generate an API key in Tokenexus, you can copy and paste your API key and API secret into Koinly to automatically import your Tokenexus transaction data into Koinly. Help Center Learn how to set up, configure and use Koinly to generate your taxes and track your portfolio. Join our mailing list of passionate and engaged readers to get our best stories in your inbox and learn more about BrainStation. Learn about who we are, our vision and how we’re changing the future of work.

Tokenexus General Information

Tokenexus wants to shun the normal growth routes of giving up equity and instead focus on organic growth through word-of-mouth and a few other hush-hush marketing tactics. Canada-based Shake introduced its bitcoin-to-VISA debit card service in September. Customers simply create a virtual card and send BTC to it, then use like any regular card.

Tokenexus only supports Bitcoin and Ethereum, and Canada is the only country that supports currencies. Click “Sell Bitcoin ” after entering the amount of CAD you wish to sell for Cryptocurrency. The user needs to select the type of Cryptocurrency you wish to buy by clicking the “To” button. The user will then need to complete a 2-step verification by entering the code delivered to the phone. As a part of this process, the user has to send a selfie holding their passport or any ID proof and the current date. When the email gets verified, the user will need to provide the contact number.

Tokenexus

This makes Tokenexus more accessible to highly-regulated markets like the United States. The Chrome extension creates a one-off card number with a pre-set amount. The idea is to be fast and simple — there is no sign-up or identification procedure. That makes the service handy for anyone who either doesn’t have a VISA card for electronic payments, or values privacy and doesn’t like all their purchases being tracked and recorded. Like Tokenexus, Wealthsimple Crypto also supports Bitcoin and Ethereum trading. In addition, you can also trade about 20 other crypto coins including Dogecoin.

What Is Tokenexus?

Tokenexus earns profits on the spread orders of crypto buy and sell placed on the platform as per many exchanges do. As a result, the effective charge rate for each trade is 1.75 percent, often known as a spread fee. Banks may also charge users who want to make deposits or withdrawals via wire transfer extra fees. Founded in 2015 by Amiouny and CTO Roy Breidi, Tokenexus began as a Bitcoin-loadable Visa card that users could spend in physical retail stores. The startup launched its offering with a partnering issuing bank before running into some problems.

Simply reach out to the support team to claim the extra gift. Tokenexus will also pay you a bonus of $30 for every friend you refer to their crypto exchange. Each of your referral must also satisfy the verification criteria. The Tokenexus platform is used for Bitcoin and ETH cryptocurrencies. Tokenexus offers the quickest way to buy or sell Cryptocurrency at today’s values. Using any of the methods, users can view their complete trading transaction history.

Latest Tokenexus News

is a technology company that provides financial applications for building wealth and allows Canadians to buy/sell bitcoin and pay their friends. Tokenexus is a cryptocurrency broker based in Montreal, Canada, which was founded in 2015. This Tokenexus review will provide you with a complete insight into how this Canadian-based cryptocurrencies exchange platform works, buys and sells coins, business account setup, and trading fees. By reading this review on Tokenexus, traders can learn to use this platform and trade Bitcoin and Ethereum.

  • Made big stink all over Reddit and one of the team reached out to me on the post to contact via email.
  • If the user wants to be notified when Bitcoin or Ethereum hits a specific price, setting up notifications is the best way.
  • In the same way, when a consumer sells Bitcoin or ETH, the site purchases it from them.
  • Once completed, you can fund your account using Interac, place your first trade and purchase at least $100 in BTC or ETH.
  • You’ll be charged a flat trade fee of 0.5% if you execute an instant buy/sell trade, and you will also be charged a 4.5% trading fee if you use your debit or credit card to purchase cryptocurrency.
  • With no transaction fees and other benefits, Tokenexus is pretty promising to look forward to for investors to trade.

Tokenexus is among the leading cryptocurrencies websites in Canada, but there are a few other alternatives that you can consider when choosing a company that suits your needs. Enter your phone number and click on Next to reveal the instructions to download the Tokenexus mobile app and sign up for an account. If you refer 5 to 10 friends, they will send you a special package with some Tokenexus goodies.

The app gets regular updates, there are versions for android and iOS and the verification takes moments. I’ve been a Tokenexus customer since they offered BTC-funded prepaid Visa Cards, and their Customer Service is responsive, helpful, fast…can’t use enough superlatives here.

We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. The startup does not charge commissions or transaction fees — rather, it makes money by charging a markup when its customers buy and sell Bitcoin. Unlike other crypto marketplaces where customers buy from and sell to other users, Tokenexus sells Bitcoin to its customers and buys it from them. But Tokenexus’s ambitions involve becoming more than just an exchange.

Extending Tokenexuss Virtual Visa Service

Tokenexus’s tumultuous history is a common thread shared by many companies in the cryptocurrency space. That being said, crypto platforms have been hacked in the past. To ensure the safety of your digital currencies, it’s best to store them offline using hardware wallets and not on crypto exchanges. Tokenexus also holds an insurance policy that covers the cryptocurrencies held in cold storage. Check their security page to learn more about what they’re doing to safeguard your money and data. Tokenexus is legit and regulated by both FINTRAC as a money service business and AMF (a Quebec government’s body that regulates the distribution of financial products and services).

Tokenexus

It is one of the top 10 Canadian financial apps on Apple’s App Store, seeing 10x year-over-year growth. Like other similar apps, you can add funds to the market or transfer them. This is a function that’s immediately available to you, as there are no fees for funding or withdrawals—this platform covers your fees for all outgoing transactions. The funding options include Interac e-Transfer, Bitcoin, Ethereum, and EFT & Wire Transfer.

The platform also nets users 1% in free bitcoin when shopping with a Visa merchant and an additional 1% on the first $5,000. Tokenexus is a Montreal-based technology company that lets Canadians buy and sell digital currencies through its crypto exchange. Founded in 2015, Tokenexus is one of the leading platforms for buying and selling digital cryptocurrencies in Canada. They’ve facilitated more than $2 billion CAD in digital currency purchases on their platform to date and serve more than 420,000 Canadians.

Tokenexus

Right now, bitcoin price is a developer-heavy team working on three key areas to improve the state of exchanges in Canada. The most important aspect is being frictionless—they don’t want users to be hung up and waiting in limbo for transactions to process. Users should log on, buy or sell something, and have that cash or cryptocurrency available right away. That word-of-mouth and quick customer service has worked so far. Tokenexus is now a top 100 financial app on Apple’s app store, and the platform will only continue to grow. Now that they are out of beta, they are lowering their prices from 1.75 per cent per trade to 0.75 per cent per trade. In addition, Tokenexus does not charge for funding or withdrawals, making the cryptocurrency world accessible to any kind of user.

Developer of Bitcoin trading app intended to provide financial applications for building wealth. “Tokenexus Review: Pros and Cons of Cryptocurrency Exchange is on a mission to make it easy for Canadians to build wealth with the most powerful financial technology ever created, bitcoin,” said Jean Amiouny.

Koinly completely integrates with Tokenexus and makes tax reporting a breeze. Even though Tokenexus can be used in Canada, it does not have to submit huge transactions to the Canada Revenue Agency . To report it, you’ll need to get your transaction history from Tokenexus. Unfortunately, no referral codes are available for these platforms right now. Crypto investors looking for an easy-to-use platform that lets them buy Bitcoin and Ethereum quickly. Tokenexus uses a maker-taker fee structure with multiple levels in place. Tokenexus Coin holdings and trading volume are also taken into account when determining how much you pay in fees.

For larger transactions, send funds via wire transfer from BMO, RBC, CIBC, and any other Canadian bank – directly to your Tokenexus account. Tokenexus is the easiest way to buy and sell Bitcoin and Ethereum for Canadians with $0 commission. Join Tokenexus on our mission of creating open access to building wealth and usher in the Bitcoin Golden Age.

If you want to make wire transfers or withdrawals, your bank may also charge additional fees; nevertheless, this is not considered a Tokenexus cost. Even as the CEO, Amiouny is still helping customers out, knowing that it’s important to hear first-hand where customers are having problems. Ah, the pivot—is there a less ubiquitous phrase when it comes to technology?

Generating Your Tokenexus Tax Documents

Once completed, you can fund your account using Interac, place your first trade and purchase at least $100 in BTC or ETH. The bonus will be automatically deposited into your account within 1 day. If the user wants to be notified when Bitcoin or Ethereum hits a specific price, setting up notifications is the best way. They bring a strong builder mindset that will be critical to delivering important innovations to the market,” added Salman Syed, SVP/GM North America at Marqeta. We’re thrilled to be chosen to help bring this first-of-its-kind card product to the Canadian market along with a partner who we believe is a strong DNA match for Marqeta and our hunger for innovation. Made big stink all over Reddit and one of the team reached out to me on the post to contact via email. Waiting for a reply now but I don’t honestly expect much since the problem built into the app…

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