qTrade Review
An online marketplace where users may buy, sell, and trade bitcoin is a cryptocurrency exchange. Users can deposit fiat currency (such as US dollars) and use those funds to acquire cryptocurrencies on a cryptocurrency exchange, which functions similarly to an online brokerage. Users may also swap their cryptocurrency for other cryptocurrencies, and some exchanges enable users to earn interest on their crypto holdings.
You’ll need to join a cryptocurrency exchange if you want to purchase or sell cryptocurrencies. With minimal costs and robust security features, the top cryptocurrency exchanges make it simple to purchase and sell the currencies you desire.
Bitcoin has grown into a highly volatile asset sought after by both major institutions and individual investors over the years. When it comes to cryptocurrency investment, it is important to choose a reputable exchange. As a result, we’re providing you with a qTrade exchange review today to assist you in making educated choices as you begin your crypto trading experience.
With the present surge in bitcoin demand, more trustworthy exchanges are required. Cryptocurrencies have grown easier to acquire, trade, hold, and exchange due to continuous developments. However, you’ll need a cryptocurrency exchange account before you can invest in Bitcoin or any other crypto asset.
It is impossible to emphasize the benefits of registering with a trustworthy and registered cryptocurrency exchange. The security measures in place for an exchange must be adequate. It should also offer adequate services to its consumers to a specific level of satisfaction.
Privacy and security are the most desired qualities of a crypto exchange. Transaction costs, simplicity of use, volume, liquidity, and support are some key qualities to look for in an exchange. When choosing an exchange, these aspects should not be neglected.
Today, the entire market value of cryptocurrencies, led by Bitcoin, exceeds $200 billion. All of this is made possible by the technology that powers virtual currencies: Blockchain is a decentralized, digital public ledger that records transactions block by block, allowing market players to keep track of bitcoin transactions without relying on centralized record keeping.
Having the finest approach isn’t enough; investors’ or traders’ exchange is essential to its success. As a result, we’ll go over all you need to know about the qTrade exchange in this review. qTrade is undoubtedly one of the most popular exchanges for anyone looking to get started in the cryptocurrency industry.
| Exchange platform | qTrade |
| Website | https://qtrade.io/ |
| Variety crypto | 15 |
| Account needed | Yes |
| Verification | Mandatory |
| Verification levels | 2 |
| Trading Platform | Web-based |
| Payment Method | Debit/Credit card, Wire transfer |
| Customer Support | Email, Twitter, Facebook |
What is qTrade?
qTrade is an exchange platform that was launched in April 2018 in Kansas, United States. It’s a new platform, which explains why there isn’t much information about it available online. Furthermore, the exchange shares the same name as the Canadian online brokerage site QTrade, which may cause some consumers to become confused when investigating the platform. The domain name qtrade.io is used by qTrade.
The exchange aspires to transform the cryptocurrency business by adopting innovative concepts that will integrate bitcoin into everyday life and technology. They take pleasure in the exchange’s commitment to innovation.
Issac and Eric Cook, two brothers, created and own qTrade Exchange. QTrade LLC is the registered company name. Since 2014, the founders of qTrade exchange have been working in the blockchain industry, forming crypto teams and mining pools until establishing qTrade in 2018.
qTrade LLC is a digital asset exchange situated in the United States and incorporated in Kansas. It was founded in April 2018. The qTrade platform offers split-second transaction execution, industry-leading security, and a scalable design. They aim to assist in advancing blockchain technology by lowering the hurdles that inventive new and emerging technology encounters.
qTrade exchange is a legitimate exchange with one of the strongest regulatory systems in the cryptocurrency industry. The qTrade exchange has declared that it is prepared to comply with all existing and future regulatory regulations in the United States. They comply with KYC as a US-based crypto exchange to assure rigorous security throughout any exchange activity conducted through their platform.
Every time a user makes any transaction on the site, the qTrade exchange requires a phone number, which will be used in a two-step verification system. qTrade is a US-based exchange that solely deals in cryptocurrencies to reduce compliance obligations. This implies you won’t be able to link a bank account or deposit or transfer sovereign currencies like the US dollar.
If you want to utilize USD, we recommend buying Bitcoin or Ethereum on a reputable exchange like Coinbase or Binance and then depositing it on qTrade. If you need help buying tokens on these exchanges, go to their support sections.
qTrade Trading Services
qTrade exchange offers a lot of features that make it unique from other exchange platforms. The most notable is its grassroots approach to blockchain technology and its goal of promoting crypto awareness by reducing hurdles imposed by the technology’s innovativeness.
On several exchange platforms, hedging is a risk management approach. It is an investment made to reduce the impact of an asset’s unfavorable price deviation. QTrade Exchange provides this option to its users for them to balance any potential losses throughout their investment.
There are currently no mobile apps for Android or iOS devices available for qTrade users. They may have one in the future for a better user experience. However, qTrade customers will need to install applications like Google Authenticator for 2FA and Trust Wallet for storing BTC, ETH, and other cryptocurrencies.
qTrade exchange is used by people from all around the world. However, residents in some locations cannot use qTrade exchange services due to certain laws and restrictions.
qTrade Fees
When qTrade’s matching engine fills a buy and sell order, trading fees are charged. The charge is calculated depending on the entire amount of the new deal. This is determined by multiplying the amount by the price multiplied by the charge rate. Placing or deleting an order that does not execute incurs no costs, and canceling an order that has not been fully completed will result in a refund of the remaining order quantity.
When considering a crypto exchange, an essential thing to remember is to constantly check the charges. Takers and makers pay varying fees on the exchange. Makers are charged a 0% appeal cost, whereas takers are charged a fee ranging from 0.5 percent to 0.15 percent.
Makers’ fees are extremely low, so they are pretty much free, increasing liquidity at the exchange. This is a significant competitive advantage in the market, especially for investors who like to “go fishing” with maker orders rather than picking up existing orders from the order book.
On the other hand, the takers’ fee is double the industry average, which is thought to be approximately 0.25 percent. As a result, qTrade’s trading cost for takers is not a competitive advantage. This might discourage some customers from joining the site because the charge is double at 0.5 percent.
You can get a fee rebate on new orders if you have a higher trading volume on your account. Based on your trading volume, qTrade assigns your account to a “rebate tier.” Your trade volume is determined by adding up the value of all of your trades over the past 30 days and converting it to USD. If your previous 30 day trading volume puts you in at least tier 1, a proportion of fees paid will be sent to your account at the end of the day, based on your current rebate tier.
Withdrawal and Deposit Fees
There are unique fees for different currencies when it comes to withdrawal fees. On the exchange’s website, a list detailing withdrawal costs for various currencies is provided. The exchange charges you 0.0005 BTC when you withdraw BTC. This withdrawal charge is also significantly lower than the industry average. To be precise, it’s around 40% lower (industry average BTC-withdrawal fee is arguably 0.0008 BTC per BTC-withdrawal).
Since this coin exchange only accepts cryptocurrencies as a deposit option, new crypto investors are effectively prohibited from trading here. If you don’t have any cryptocurrency but want to start trading on this platform, you’ll need to buy some from another exchange and then deposit them at qTrade as a second step.
qTrade API
An application programming interface (API) is a software interface that enables computers to interact and carry out activities with one another. APIs function as computer-to-computer code translators, allowing computers to do more complicated jobs at hyperkinetic speeds that humans can’t match.
Crypto exchanges would not give consumers the depth and breadth of services they provide if API trading were not available. Algorithmic and AI trading techniques would be impossible to implement without APIs.
For those with the technical know-how, qTrade offers an entire page devoted to the API. Market information, exchange capabilities, and APIs are all available in the papers on the website. The API is separated into two sections: trading and feeds.
While the Feed APIs are open to the public and allow access to market data, the Trading APIs allow access to account information such as placing orders and other account-related information.
qTrade Limit and Liquidity
qTrade is a centralized cryptocurrency exchange. A centralized exchange means that your transactions and assets on that platform will be monitored and secured by a third party.
These sites demand that you provide personal information in order to authenticate your identity. By giving additional information about yourself, you can boost your withdrawal limit on these exchanges.
These exchanges are highly popular among crypto users since they offer a wide range of services, are easy to regulate, and have a lot of liquidity.
qTrade Portfolio
The availability of many trading alternatives is a unique aspect of every financial services provider. Traders will get extensive experience and expertise, allowing them to make well-informed trading choices. The existence of such flexible options has a significant influence on the user’s trading experience.
qTrade, like the other leading exchanges, does not trail behind when it comes to portfolios. Users have the option of spreading their cash over many portfolios on the exchange. You may divide your money into several portfolios based on your strategy, amounts invested, risk management goals, and profit ambitions.
The feature is intended for advanced traders since beginners and typical investors may not find it useful. Users that adopt tools like these have control over their finances and may invest as they see appropriate. Aside from enhancing the trading experience, portfolios may also assist with risk management.
qTrade gives an estimate of your current account balance in BTC, USD, and perhaps additional currencies in the future as a convenience to users.
Cryptocurrencies Available on qTrade
Certain currencies are supported by qTrade exchange for circulation on their platform. There are fewer listings on qTrade than on other cryptocurrency exchanges, which is obvious. This gives credibility to their claim that quality outweighs quantity.
The exchange supports a wide range of cryptocurrencies, including the most well-known ones like Bitcoin, Litecoin, Dogecoin, and others. However, the exchange’s website has a section where they outline some of the other cryptocurrencies that they support. These currencies, according to qTrade, will “transform the way we think about distributed ledger technology.” SnowBlossom, Nyzo, and Bismuth are examples of such coins.
qTrade Interface
qTrade exchange is a simple platform that allows you to get started in a matter of minutes by simply opening an account and validating your identification. Furthermore, the function is straightforward and can be grasped with minimal effort.
The website of qTrade is pretty basic, and the design isn’t particularly current. The site is simple, yet it gets the job done. There don’t appear to be any other language options than English. This might indicate that the exchange’s primary goal is to serve the English-speaking world, primarily the United States, rather than all prospective consumers.
Unlike other websites with intimidating dashboards, qtrade.io is quite basic and user-friendly. It breaks down the barriers of current, creative technology, allowing you to freely explore and comprehend the crypto world.
On every trading platform, a trade view is displayed. The trade view is a section of the exchange’s website where you can monitor a cryptocurrency’s price chart and its current price. You will normally find buy and sell boxes where you can place orders for the cryptocurrency you’re interested in, and a lot of platforms allow you to see your order history (i.e., previous transactions involving the particular crypto). Everything is in one view on your PC.
How Secure is qTrade?
qTrade prioritizes security, and the platform uses different levels of protection and tested tech to keep customers’ assets secure. Furthermore, the systems and backup systems are intended to avoid any significant single point of failure, ensuring that customer money is safeguarded from unintentional loss even in the most unusual circumstances.
The exchange uses the usual two-factor authentication method for further protection. Users are requested to submit a phone number when they create an account, which will be used for two-factor verification when they want to do anything on the site. When you register for the platform, your identity is also confirmed. This implies that users who want to trade anonymously won’t be able to do so on this site.
The vast bulk of customer funds are kept in a secure offline storage. Sensitive information that would typically be stored on our systems is completely isolated from the internet. The data is subsequently sharded, encrypted, and transferred to paper backups for redundancy and security. Paper backups are stored in safe deposit boxes and vaults across the world. Disaster recovery shards enable third-party backup recovery in the case of a loss of critical employees. Backups are audited on a regular basis to ensure that they remain valid and functional.
Customer Support
On the qTrade Exchange website, you may contact customer service and make a request for assistance with your problem. Customer service at qTrade is excellent and responsive. In the course of being customer-focused, they provide high-quality service to consumers, including premium assistance and quick response times.
The email address registered with your qTrade account should be used to submit requests through email. You’ll also have to decide on the most relevant category and subcategory. It would be best if you were specific about the problem you want to report.
On the website help page, you may file a support ticket by providing all essential information or issues in as much detail as possible. Screenshots may be a useful addition.
Conclusion
In a nutshell, qTrade exchange is a new exchange platform with its own set of advantages and disadvantages. qTrade believes in a more grassroots approach, which is what cryptocurrency is built on. It is a safe platform with several advantages. As typical, certain technical flaws must be resolved, which will be done in the future. It is a must-have for new users who are unfamiliar with crypto and blockchain.
This exchange does not charge makers any fees, which helps to increase liquidity on the platform. This is a huge competitive advantage in the market.
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