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Author Topic: My terribly negative experience with QuadrigaCX, Canada's leading BTC exchange  (Read 6792 times)
canuck
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January 20, 2017, 12:53:04 AM
 #1

TL;DR: Quadriga provided this Canadian some wire info for a bank in Poland, it hasn't shown up in 9 days, Quadriga ha no desire apparently to investigate or clarify if I should put a trace on the wire. Post negative review (can be amended) on facebook. QuadrigaCX blocks me from commenting further, I email them saying that I'll go to social media with the details of my negative experience; an hour later they close my account.

-----------

I'm making the social media rounds with this terribly negative experience I've had with QuadrigaCX. I've been in BTC since 2012, and I've never gotten into a dispute with an exchange even once. Guess I was due.

I had high hopes for Quadriga because they offer some of the best (typically THE best) CAD liquidity in Canada; but my experience with them this past 9 days (actually the past few weeks) has been rather absurd...and it all ends with them closing my account after I posted a negative review on their facebook page.

Some time ago, I became more active in trading Bitcoin locally, and needed to start funding exchange accounts to ensure I could facilitate cash trades from people who wanted to buy BTC. It's a great hobby, and it makes me a little bit of money on the side in addition to getting out of the house. One guy posted a gushing review for me on localbitcoins saying how nice I was fort answering all of his questions. Made me feel like it was 2012 again when we were all Bitcoin pioneers. Because Quadriga is well designed and has always appeared to be functional to me, I started to send funds to them to buy Bitcoin to be sold later in meatspace.

Getting verified was a bit of a chore, but it was hardly anything unexpected. After getting interac and bank to bank transfers set up, I found that wiring was probably the best method to fund my account with CAD. Quadriga requires that you ask them for account information before wiring them, because they say that their account information can change. I asked wy, and rather than tel me that it's because they're a bitcoin business and banks limit them, they just refused to explain. Well, ok, not a big deal, I just would have appreciated a simple explanation, and having to wait for a day for wire info added friction to transactions.

So I send a few wires to an account they have in Canada, and then the last wire I request info' for, I get information for a bank in Poland. I ask if there's any Canadian accounts I can wire to, and receive no reply. To be fair, there were only two hours between when I asked about an alternative and when I showed up to my bank to initiate the wire to the Polish account, but in the end they never did answer that query.

So, with my $5,000 in hand, and the information for a Hong Kong company with a Polish bank account receiving CAD, I get the wire sent. My request for clarification on whether or not a domestic account might be available is never answered.
On my Royal Bank of Canada reciept, it's indicated that my wire should post by the 12th, but it's a late afternoon and it's a wednesday, so I give it a 50/50 shot. I'm confident that by Friday the 13th I'll see the wire credited to my Quadriga account. On the 13th, nothing shows up. Fine, No big deal. So I email support to ask if they have seen anything in hopes that they'll double check it. No immediate response, and my impatience does shine though as 4 hours later, I send them a request for some kind of clarification and complain that I guess they don't care about a small fish $5K deposit, but it's important to me.

45 minutes later, they get back to me to tell me that they have double checked their account in Poland, but the wire hasn't shown up yet.

Alright, we'll all have a good weekend and get this sorted later.

So 3 days later, on the afternoon of the 16th, I send another inquiry. "Still nothing? This is pretty bad."

I understand that international wires can take a while, but with the value date provided, this one should have gone through by now if my previous experiences with wiring money has been anything to gauge by...but the response I get from Quadriga really baffled me. Just 9 minutes later, I get a message. The standard "sometimes it can take longer when wiring internationally" is of course included, but then this.

"Where are you compliments? It's been only criticism so far. If you are unhappy, please feel free to use another service."

I should be complimenting Quadriga for failing to poke at their bank and inform me of their response? I should be complimenting them for being unable to provide me a domestic account to wire to instead of some bank in Poland? I should compliment an exchange that has such immense troubles taking my money?

Look, I know that Bitcoin businesses in Canada have to tread lightly around banks, and that the banking system does cause a lot of hiccups for exchanges. I get all of that, and if Quadriga had just explained that these were the obstacles they were running into, I probably wouldn't have taken any offence because at least I'd be assured they were trying to help me out...but what am I supposed to find praiseworthy about making my money illiquid and untradable because their accounts can't handle the load? Maybe after we solve an ongoing issue we can get to the praise...

So I'm being told to go elsewhere because they can't take my money fast enough. Somehow, if they weren't one of only two exchanges in Canada doing hundreds of BTC in daily volume with CAD, I don't know that they'd be so happy to tell someone to leave for being eager to send them money.

So, I propose that a solution be found. I reccomend that they look into using SBI Sumishin Net Bank in Tokyo, the same bank that kraken uses for wires. "Anything to get your ability to accept funds up to snuff" I write. "I don't want to go elsewhere. I want to see your service become more accessible so that it gets better. I'd think you want the same."

16 hours later, Quadriga suggests a crypto capital account, which initially seems like a cool idea, though after doing some research online, I'm not so sure anymore. Anyhow, I'm delighted by this at first, and go sign up for an account straight away! This is great! A solution!

So...waiting for that.

On the evening of Jan 18th, I ask again. "Hi, has this wire still not posted?"

21 hours later on the afternoon of Jan 19th (7 business days have passed now) I send another e-mail asserting that I should have had some kind of response. "I really hope you understand why I keep making inquiries about this." They still haven't even told me if they've even asked anyone at the bank in Poland about the issue. I'm just in the dark. I include an attachment of my wire receipt and ask "can you go over the wire information and make sure it is correct? Maybe it didn't get sent correctly?"

No response.

It occurred to me that when I'd started becoming more active on the Quadriga platform, they encouraged me to post a review as I was pleased with their service. I said something about giving it some time for another wire of mine to show up, and thought I'd do some more transactions first.

In light of just not getting any response through the business day on this issue, I decided that now was the time to post a review on their facebook detailing the situation with my wire, and why I was disappointed. In that same review I started out with praise for Quadriga, and explained that I simply didn't think I was being treated well on this whole wiring issue.

It took Quadriga all of 10 minutes to respond to that. That was quickly followed by me being blocked from commenting further on their page. I wasn't profane or vulgar; but that was that. Just blocked.

So, rather angry I sent an email threatening to post about this publicly; the headache I've had with this wire situation and the unhelpful responses and dismissiveness. "I'm not going to take this dismissive treatment when my money is missing. This is not an acceptable manner of treating a customer who has entrusted money to you.

All I've asked for is timely updates, and some assurance that you're actually trying to act on my behalf as your customer."

Almost exactly one hour later, I receive an email informing me that my account has been closed, and that I'll be getting a refund for my wire, and the current account balance. My threat to make the rounds on social media to tell others about my negative experience is called bullying. My money's missing, Quadriga doesn't seem to care enough to make some inquiries with their bank to find out why, and I'm the big bully here. Am I just seeing this all wrong?

Well...that was a little shocking.

I might concede that expecting responses in just an hour or two can be pushing it rather a lot. I had simply hoped that the exchange operator might be able to find the time to do so during the business day, and certainly the response times are so varied (mere minutes to over a day) that I've no idea as a customer what I should reasonably expect. When moving money around in meat and digital space, you can be wondering how it will all balance, and support is my only window into what's happening with my exchange account...but demanding praise for a problem, and then closing my account because I said I would take this public if the treatment continued...that seems like an overreaction.

So, I suppose I'll make the social media rounds with this story. All I wanted to really know was whether or not someone was at least making inquiries to the bank in Poland to see what the hold up was, or if I should ask my bank to put a trace on the wire. Being dismissed by support and being told to sod off essentially just left me in the dark, unsure of what's going on.

In my estimation, Quadriga support is awful, and I had really hoped that it'd be much much better.

hope I see my $5,000 sometime soon. I just had to do the suspension in my car after all. Ha.
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May 04, 2017, 09:33:44 PM
 #2

Your experience is EXACTLY what I am worried about!!!!  YIKES!!!!

So do you know anywhere where I can safely buy bitcoin?
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May 04, 2017, 09:44:37 PM
 #3

Are they providing support through this forum. I am unable to locate any of their ANN topic. But found this alone : https://bitcointalk.org/index.php?topic=984498.0

You need to choose a services which is being offered by this forum member. I mean to say, you need to check QuadrigaCX is admin/support staff are member of this forum and active enough to respond queries here, if not you better should not try their services.

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May 29, 2017, 03:22:11 AM
 #4

I've been trying to source for ways to get bitcoin in Canada, and people keep saying QuadrigaCX.

However, I find it highly unusual why you would have to wire funds to a bank outside Canada, when their headquarters is in Vancouver. This is the main reason why I haven't tried getting bitcoin from them. Am currently trying to see if Kraken's XBT/CAD might be a better way of getting bitcoins.
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June 12, 2017, 07:45:01 AM
 #5

So I was just wondering, did you ever get your money back? Or find another Canadian BTC exchange?

I am at the moment mining some BTC and will deposit them to Coinbase, and I planned on transferring them to Quadriga then sell them off and withdraw the CAD to my bank account. I also made a small $300 investment on ETH from Genesis Mining, which I also plan on transfering my Ethereum wallet to Quadriga, sell them off and withdraw the CAD.

I am kinda new to this cryptocurrency business so was wondering if you have any tips.
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September 28, 2017, 03:31:36 PM
 #6

TL;DR: Quadriga provided this Canadian some wire info for a bank in Poland, it hasn't shown up in 9 days, Quadriga ha no desire apparently to investigate or clarify if I should put a trace on the wire. Post negative review (can be amended) on facebook. QuadrigaCX blocks me from commenting further, I email them saying that I'll go to social media with the details of my negative experience; an hour later they close my account.

-----------




Why wire through Poland? Probably to avoid rules and regulations + bank fees + they where probably not able to connect to a bank here when they mention bitcoin

I was able to transfer $1000 a couple of months back and everything went well, had the money in QuadrigaCX within 5 days

Sucks to hear it went terrible for you Sad hope that you will see your money soon


So I was just wondering, did you ever get your money back? Or find another Canadian BTC exchange?

I am at the moment mining some BTC and will deposit them to Coinbase, and I planned on transferring them to Quadriga then sell them off and withdraw the CAD to my bank account. I also made a small $300 investment on ETH from Genesis Mining, which I also plan on transfering my Ethereum wallet to Quadriga, sell them off and withdraw the CAD.

I am kinda new to this cryptocurrency business so was wondering if you have any tips.

Store in Coinbase? No! Dont trust a third party to store your money.
Best way to store your digital currency is Hardware wallet, if you are serious about digital currency.

Otherwise, get a raspberry pi and download wallets to your raspberry pi
Why rasberry pi? Runs linux (I assume you are running windows), so it is safer, a clean machine and you just leave it to take care of your wallets. Also easy to hide or bring with you.
And the chance for you to get virus, trojan horses and other bullshit from weird website (including porn sites) is minimal if you keep it for you storing your money.

And it is freaking cheap, you probably could get a raspberry pi with case and everything for around $40-50, cheaper than a hardware wallet. Not as safe, still pretty good.

Never trust someone else to take care of your money, the big reason why bitcoin was invented Smiley

Hope it helps
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November 02, 2017, 03:25:05 AM
 #7

OP - I just went through the exact same thing!! -

after waiting days for verification I decided to ask them why it was well outside of the 48 max they quoted for turnaround and i haven't been asked to submit extra docs or redo anything etc...

-  - no response so I sent a couple service tickets on the site - no response -

I was getting frustrated and so
Finally I went to facebook and wrote a review asking what was taking so long and why they don't respond to clients "service tickets" emails or their phone calls....

I hoped this review would get their attention because it was out in the public eye right??  and I knew if they made the situation right i could easily delete it afterwords so it wouldn't hurt their clearly EXTREMELY FRAGILE egos.  anyway did it work?
wow - crazy fast,1 minute late I finally hear from them, ( just goes to show they can ignore customers comments and complaints by email or on their website, but BOOOM!!!! the moment it is out for the world to see they reply with a comment in UNDER A MINUTE!)
You know what they say?
they say i'm banned and suspended - ad some other BS about the "industry standard wait being WEEKS. When I only began to inquire after THEUIR OWN STIPULATED MAX TIME OF 48 HOURS!! I also was shocked because they claim to be the biggest and best in Canada when Coinsquare does this same verification less than 24 hours- not "WEEKS" I later went to coinsquare to make sure the quated figures were accurate and yup 16 hours start to finish!! sooo anywayyy someone here is a SORE loser.

I explained the situation and told them I was just going to my last resort to try and get their attention here on in public after exhausting all other routes privately......and of course no reply- ----
Just brutal
I was shocked -
If this is how they treat clients it is terrible. As a Canadian I feel it is now my duty to do the rounds on social media and insure this "company" doesn't waste the time of any other investors..

If the first thing you do in response to an inquiry is block the account that says something - Same thing when you leave a review - rest assured if you go on facebook and have ANY critique or suggestion you will be banned because its never their fault and how dare you insult them .

Very sad that they are Canadian Sad
 honestly upset and disappointed. Hope your guys experience is different then all those who have chimed in before me here in very similar tone .......
Cheers
B

I believe in 3rd and 4th chances for these guys sake and if they ever un supend me of course I will come back and update this thread... I'm not a vendictive criminal like they are pegging be for some reason, anyways hope this gets better but for now I'm advise all people I speak with on the other bitcoin forums what to expect when dealing with Quadri -- and yes I'm very new to BCT site but not the the ecosys as a whole, I just thought you guys deserve to know like the rest of the cryptosphere - Knowledge is power my friends.!
Happy living!
B
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November 02, 2017, 06:38:10 AM
 #8

Did you get your money back? If you didn't, you shouldn't give up. You should pursue the matter further, shame them further until they finally realize that stealing is not something a legitimate Canadian company does. Or any company for that matter.

There are some people with similar complaints who posted on their facebook page. This seems to be a pattern of selective fraud. Lock everyone's funds and only resolve those who make a big brouhaha about it.




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November 05, 2017, 03:29:05 AM
 #9

No I still haven't got anything from them other than they keep sending replies to my service tickets that say " thank you your ticket has been closed- view our website FAQ section blah blah blah - just autobot sending this BS to me.
I am very upset - these guys took my drivers license pics - passport pics - untility bill pics bank statement pics and then all of my banking account info!? just to then Ban/Suspend /Freeze my account for asking why it was taking so long?
What ever you do don't inquire as to the status of their processing of your verification!!!! thats what I did and I feel like i've been scammed. Does anybody have any recommendations?
thx b
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November 30, 2017, 10:24:13 PM
 #10

OP - I just went through the exact same thing!! -

after waiting days for verification I decided to ask them why it was well outside of the 48 max they quoted for turnaround and i haven't been asked to submit extra docs or redo anything etc...

-  - no response so I sent a couple service tickets on the site - no response -

I was getting frustrated and so
Finally I went to facebook and wrote a review asking what was taking so long and why they don't respond to clients "service tickets" emails or their phone calls....

I hoped this review would get their attention because it was out in the public eye right??  and I knew if they made the situation right i could easily delete it afterwords so it wouldn't hurt their clearly EXTREMELY FRAGILE egos.  anyway did it work?
wow - crazy fast,1 minute late I finally hear from them, ( just goes to show they can ignore customers comments and complaints by email or on their website, but BOOOM!!!! the moment it is out for the world to see they reply with a comment in UNDER A MINUTE!)
You know what they say?
they say i'm banned and suspended - ad some other BS about the "industry standard wait being WEEKS. When I only began to inquire after THEUIR OWN STIPULATED MAX TIME OF 48 HOURS!! I also was shocked because they claim to be the biggest and best in Canada when Coinsquare does this same verification less than 24 hours- not "WEEKS" I later went to coinsquare to make sure the quated figures were accurate and yup 16 hours start to finish!! sooo anywayyy someone here is a SORE loser.

I explained the situation and told them I was just going to my last resort to try and get their attention here on in public after exhausting all other routes privately......and of course no reply- ----
Just brutal
I was shocked -
If this is how they treat clients it is terrible. As a Canadian I feel it is now my duty to do the rounds on social media and insure this "company" doesn't waste the time of any other investors..

If the first thing you do in response to an inquiry is block the account that says something - Same thing when you leave a review - rest assured if you go on facebook and have ANY critique or suggestion you will be banned because its never their fault and how dare you insult them .

Very sad that they are Canadian Sad
 honestly upset and disappointed. Hope your guys experience is different then all those who have chimed in before me here in very similar tone .......
Cheers
B

I believe in 3rd and 4th chances for these guys sake and if they ever un supend me of course I will come back and update this thread... I'm not a vendictive criminal like they are pegging be for some reason, anyways hope this gets better but for now I'm advise all people I speak with on the other bitcoin forums what to expect when dealing with Quadri -- and yes I'm very new to BCT site but not the the ecosys as a whole, I just thought you guys deserve to know like the rest of the cryptosphere - Knowledge is power my friends.!
Happy living!
B

Hi guys.

I'm glad I found your reviews over here, sorry it was you, glad it wasn't me.

I found there site just looked sketchy to me, but I used there site a couple of times.

I know you say, I believe in 3 or 4 chances. I don't. I've lived through Mt. Gox and being ripped off by a mistake by shitstamp, nobody gets but 1 chance. In this world of BTC, I've been ripped a couple of times since 2013. I think 1 chance is enough, or your probably not going to live to see the end of BTC. Haha.

I want to be here with as much BTC as I can keep, without somebody else being too lazy to care about there valued, or undervalued customers. Too lazy or too careless, either one is not worth going back to.

thanks guys, sorry it happened to you.
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January 08, 2018, 09:18:12 AM
 #11

Still the same garbage quality. Are there any good exchanges for cryptos in Canada or all of them are garbage like www.quadrigacx.com ?

I hope soon we can start selling on coinbase in Canada.
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January 09, 2018, 08:36:51 AM
 #12

Similar experience here

They didn't ban me or anything, but horrible responses, one transaction still missing and it seems to be that overall this is a scam exchange due to how they're based in one country, money goes to another and they're registered in the third

I also understand that they've previously asked people to even wire money to Georgia (the country not the state), which makes all of this very fishy

Wouldn't be surprised if one day they just disappear with all of the money
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January 20, 2018, 05:43:47 AM
 #13

Oh damm...Seems like a really really dodgy exchange....Coin Base please allow selling in Canada...
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March 01, 2018, 04:23:40 PM
 #14

Sorry for your horrible experience! Visit https://www.transacoin.ca if buying or selling cryptocurrency in Canada!

You will not have to worry about this kind of stress with Transacoin. We aim to be the leader in terms of virtual currency in Canada! We offer quick, efficient, professional service for all your crypto transactions in a secure environment. We are here to help you buy and sell in order for you to make the most of cryptocurrencies. We understand that digital currency is a totally new industry for a lot of people and that’s why our team is here to assist you in this new venture. Whether it’s online through our website chat or by telephone on our toll-free line 1-888-472-7110, our customer support is always here to answer any of your questions.

Come check us out!

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April 08, 2018, 03:56:08 PM
 #15

Troubles with verification on stupid quadriga? Embarrassed Embarrassed Embarrassed Embarrassed
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