Official CaVirtex.com Thread

[freedomno1]

Its due to liquidity reasons. There aren't too many traders on those 2 exchanges.

Generally when the markets are rallying or diving too fast, those exchanges don't always have up to date prices.

Sometimes a small 100-200 lot order can make the prices differ in hugh percentages while the orders fill.

If I recall correctly, at one time they used to have trading bots to promote a more liquid exchange but seeing how Bitcoin has been fairly quiet for a long time its likely that the bots were tasked to go somewhere else as there wasn't much reason to have them.

[dooglus]

If I recall correctly, at one time they used to have trading bots to promote a more liquid exchange but seeing how Bitcoin has been fairly quiet for a long time its likely that the bots were tasked to go somewhere else as there wasn't much reason to have them.

Right now I can buy 17 BTC at CaVirtex for $490 each and sell them on Quadriga at $515 each. That's a $25 * 17 = $425 profit, minus fees. I can do that manually.

People have bots set up to automate the detection and execution of arbitrage opportunities like these, and so there must be a reason that this isn't as good as it looks. On the surface this is something like $400 of free money.

This guy is complaining that BTC withdrawals are disabled at CaVirtex, which could be part of the problem, although according to comments in that thread it's just an account verification issue.

[superbit]

If I recall correctly, at one time they used to have trading bots to promote a more liquid exchange but seeing how Bitcoin has been fairly quiet for a long time its likely that the bots were tasked to go somewhere else as there wasn't much reason to have them.

Right now I can buy 17 BTC at CaVirtex for $490 each and sell them on Quadriga at $515 each. That's a $25 * 17 = $425 profit, minus fees. I can do that manually.

People have bots set up to automate the detection and execution of arbitrage opportunities like these, and so there must be a reason that this isn't as good as it looks. On the surface this is something like $400 of free money.

This guy is complaining that BTC withdrawals are disabled at CaVirtex, which could be part of the problem, although according to comments in that thread it's just an account verification issue.

The issue is getting money into Virtex, it takes forever unless you are OK with doing $1,000 a day.  By the time you actually get money in and ready the arb closes, just when the price is rising Virtex lags because no one uses it anymore, money takes forever to go in, and their customers service sucks.

[freedomno1]

If I recall correctly, at one time they used to have trading bots to promote a more liquid exchange but seeing how Bitcoin has been fairly quiet for a long time its likely that the bots were tasked to go somewhere else as there wasn't much reason to have them.

Right now I can buy 17 BTC at CaVirtex for $490 each and sell them on Quadriga at $515 each. That's a $25 * 17 = $425 profit, minus fees. I can do that manually.

People have bots set up to automate the detection and execution of arbitrage opportunities like these, and so there must be a reason that this isn't as good as it looks. On the surface this is something like $400 of free money.

This guy is complaining that BTC withdrawals are disabled at CaVirtex, which could be part of the problem, although according to comments in that thread it's just an account verification issue.

I was also looking it up as well it seems that Bitcoin withdrawals were disabled for my friend as well, the hot wallet must have been drained since the last I recalled only 2% was used in the hot wallet with the rest sitting in cold storage and mumble (says lv 2 on my page but it looks like I was demoted somewhere)  

_
Thanks for reaching out!

I took a look at your account and it is only level one verified. You will need to submit a copy of the PAD form to be upgraded to level 2 and be able to deposit using direct withdrawal.

Once you upload the PAD form let me know.

Thanks,

G---

[Portnoy]

Tweet

@CAVIRTEX

If you see a "withdrawals disabled" msg it is likely because you have not inputted your BTC withdraw address in Settings->User Preferences.
1:09 PM - 3 Nov 2015

[klondike_bar]

on wednesday i actually used my balance to arb ~$1200 over to quadrigacx, and sold it the next morning, and withdrew to my bank at 10% gain (~4% of this was overnight price movement, and then there was ~2% in fees for withdrawals/deposits. I then got LVL2 verified at cavirtex (PAD was approved within 18hrs) and requested a direct bank withdrawal to add funds.

notes:
to withdraw from quadriga i sent $100 via 24-hr e-transfer and got it within 12hrs. I sent $1000 via 2-5day e-transfer and am still waiting since thursday AM
to transfer the coins and sell them was quite simple. sadly i was focused only on arb and not looking for the peak, so i missed out on an easy +5% price movement by selling about 30min too soon.
to deposit to cavirtex takes a bit of time, i approved the withdrawal on thursday night and it has not yet occured, (site says 3-5 days though)

lesson: arbitrage is best when you have balances in both places. to cycle a small amount of funds CAV->quad->bank->cav can take over a week. It will still be a few days before i have CAD in the cavirtex account to trade with, but with my verification complete it will be easier to add funds. Despite not trying to make money on market price movement, I'm glad i sold these even at the price i did (~$500 instead of potentially $525 minutes later) because of the volatility that followed soon after

[explorer]

CaVirtex is the only CDN exchange that can link to a CDN bank account. I think.

So that makes it easier for people to get CAD into CaVirtex? If so, wouldn't that mean their price would tend to be higher than the one that it's harder to get CAD into?

CaVirtex' coins are 10% cheaper than anywhere else. So why isn't someone buying them?

I tend to have difficulties depositing with Level 2 Verification there myself from a linked bank account and tend to still use lightbox and canadianbitcoins even at a premium to cavirtex.
The ownership changed a while ago and the owners of the havelock exchange changed hands and left those shareholders in the dust but the exchange works fine for Canadian users who already have bitcoins and want to trade there.
(Problem is getting the fiat equivalent in instead of doing a BTC LTC conversion there to have a fiat balance.)

Both Cavirtex and QuadrigaCX have completely dropped the ball on deposits.  When Bitstamp started linking Cdn accts I tried it out,  and numerous times since.  Longest wait was 4 business days.  Cdn exchanges always over 2 weeks, if i can do it at all, with poor to nonexistent communication.
Add to that the lack of liquidity and high rates, and it results in my business going overseas.

[freedomno1]

on wednesday i actually used my balance to arb ~$1200 over to quadrigacx, and sold it the next morning, and withdrew to my bank at 10% gain (~4% of this was overnight price movement, and then there was ~2% in fees for withdrawals/deposits. I then got LVL2 verified at cavirtex (PAD was approved within 18hrs) and requested a direct bank withdrawal to add funds.

notes:
to withdraw from quadriga i sent $100 via 24-hr e-transfer and got it within 12hrs. I sent $1000 via 2-5day e-transfer and am still waiting since thursday AM
to transfer the coins and sell them was quite simple. sadly i was focused only on arb and not looking for the peak, so i missed out on an easy +5% price movement by selling about 30min too soon.
to deposit to cavirtex takes a bit of time, i approved the withdrawal on thursday night and it has not yet occured, (site says 3-5 days though)

lesson: arbitrage is best when you have balances in both places. to cycle a small amount of funds CAV->quad->bank->cav can take over a week. It will still be a few days before i have CAD in the cavirtex account to trade with, but with my verification complete it will be easier to add funds. Despite not trying to make money on market price movement, I'm glad i sold these even at the price i did (~$500 instead of potentially $525 minutes later) because of the volatility that followed soon after

Good job Klondike I tried to do the same when that arbitrage was getting damn ridiculous and put money into cavirtex, its still processing ...
Got stuck in the Verify loop it's slow and why those variances occur, that said I got to admit it really can pay off to have the balances sitting in there sometimes, so congrats on your win

Both Cavirtex and QuadrigaCX have completely dropped the ball on deposits.  When Bitstamp started linking Cdn accts I tried it out,  and numerous times since.  Longest wait was 4 business days.  Cdn exchanges always over 2 weeks, if i can do it at all, with poor to nonexistent communication.
Add to that the lack of liquidity and high rates, and it results in my business going overseas.

It's funny because CanadianBitcoins did my Buy order in 1 Day would probably even be same day if I didn't do it after 3 PM and my Conversion in 1 Day Flat.
(During the same period I am still waiting on my deposit to cavirtex and haven't even tried Quadriga's processing speed yet, but I did verify there just in case this situation occurs again some time soon free money after all)

I haven't tried bitstamp yet, but Explorer I recall that you were discussing Quadriga in the unofficial thread I made a while back so hows the average processing time over there or is it really 13 days still ...

[freedomno1]

Looks like someone noticed the Griping looks at pending deposits day 8 unless they announced late and my EFT is um still frozen for the week before the ANN that said I appreciate the improvements.

Nov. 12, 2015, 11:13 a.m. - Cavirtex Partners with Vogogo for Rapid Deposits and Withdrawals

Today we are announcing a partnership with Vogogo Inc. to improve the trading experience for current and future account holders on Cavirtex.

After Cavirtex and Vogogo complete a tech migration and Cavirtex users complete a re-verification process of their bank accounts, Cavirtex traders will have access to faster deposits and withdrawals on our exchange.

Founded in 2008, Vogogo is a trusted, publicly traded risk management and payment processing specialist with superior automated technology.

During the technical integration period, traditional EFT withdrawals and deposits have been temporarily paused. Interac remains as a CAD deposit option for clients, and users can also continue to deposit and withdraw funds via bitcoin as usual. The pause in EFT processing during this transition period was unexpectedly driven by policy changes at Cavirtex’s previous banking partner.

As part of the upgrade process, Cavirtex clients will re-verify their bank accounts in order to link them to the new Vogogo platform. Once a bank account is linked, EFTs will typically be processed in 1 to 2 business days. This is a significant improvement over Cavirtex’s previous EFT processing times with our prior partner, which took a full week to clear. Cavirtex account holders will have a $10,000 daily limit for standard EFT transfers, which can be increased on a user-by-user basis.

During this transition period, you will continue to be able to use Interac as a funding option to instantly transfer up to $1,000 into your Cavirtex account. Bitcoin deposits and withdrawals continue to function as normal.

For more information and for technical support, contact wecare@cavirtex.com.

[Transisto]

For those not following,  the only widrawal method now cost 4%,  there was no published warning or explanation.  

https://www.reddit.com/r/Bitcoin/comments/3vhuxt/cavirtex_has_increased_its_depositwithdrawal_fee/

[nubbins]

Wow. So much fail in this thread that I'm actually unwatching it. GL to chumps who still have funds there, against all common sense.

[Transisto]

Bitcoin Withdrawals are Temporarily Disabled

Please see our twitter feed for updates

Your twitter feed say nothing about that. https://twitter.com/CAVIRTEX

[Portnoy]

Kraken Acquiring Coinsetter and Cavirtex to Bring Global Bitcoin Exchange to United States and Canada
http://www.financialpost.com/news/business-wire/detail.html?b=www.businesswire.com/news/syndication/20160119005459/en/Kraken-Acquiring-Coinsetter-Cavirtex-Bring-Global-Bitcoin

Finally some more reasonable fees?

~~~

To celebrate the acquisition, through March 1, 2016 all American and Canadian clients, including Canadians living abroad, will enjoy free deposits on Kraken’s trusted, next-generation bitcoin exchange.

Details for Canadian clients:

Provinces and territories supported: All (Canadians residing abroad also eligible).

Fiat deposit options and pricing: Interac and EFT (through Vogogo), free until March 1, 2016. 1% deposit fee after March 1, 2016 ($10 CAD min and $50 CAD max for both Interac and EFT).

Fiat withdrawal options and pricing: EFT only (through Vogogo), $10 CAD flat.

Exchange pricing: Maker-taker model with trade fees ranging from 0% to 0.26%.

[snailmen]

Hey CaVirtex, fuck you! I'm fuckin glad you're getting bought. Fuck your shitty stupid services, you can all suck a dick for being cunts. You're scammers and everyone knows it.

No more Cavirtex! Woot! Fuck you cavirtex I fucking hate you, worst exchange EVER!

[nubbins]

Cool! So does this mean all the suckers with Cavirtex shares now own shares in Kraken? 

[freedomno1]

Cool! So does this mean all the suckers with Cavirtex shares now own shares in Kraken?  

Lol well they better get Kraken on it ^_^

Full text https://support.kraken.com/hc/en-us/articles/215613638

Jan. 19, 2016, 1:01 a.m. - Cavirtex Now Part Of The Kraken Bitcoin Exchange

Happy New Year! We are starting 2016 with some fireworks of our own – Cavirtex (and our parent Coinsetter) is being acquired by Kraken, a premier bitcoin exchange. Read the formal public announcement here:

http://www.businesswire.com/news/home/20160119005459/en

This transition will bring huge upgrades to your account, offering fast trade execution (no more "slow" Cavirtex technology), cheaper deposit/withdrawal options, and margin trading.

What will happen to my account(s)?

On January 26, 2016, Cavirtex will temporarily halt trading and begin the safe migration of all accounts (and funds) to the Kraken platform. This process is expected to take just a few hours. Upon completion, you will be able to log in at www.kraken.com and immediately begin trading with any Canadian dollar (CAD) and bitcoin (XBT) funds that are in your Cavirtex account(s) at the time of migration. You will be able to deposit or withdraw bitcoin (XBT) immediately too. After a brief and seamless process to re-activate your account with Vogogo, our trusted Canadian payment processor, you’ll be able to deposit and withdraw CAD.

Why is this good for me?

This is outstanding news for Cavirtex clients. As a Kraken account holder, you will receive:
- Free CAD deposits for Canadians (including those living abroad) until March 1 (when the promotion ends, the deposit fee will become 1% with $10 CAD min and $50 CAD max for Interac and EFT)
- CAD EFT withdrawals will only cost a flat fee of $10 CAD
- Immediate access to lower trading fees (via a maker taker model with fees ranging from 0% to 0.26%; read more at https://www.kraken.com/help/fees)
- Exchange options you have been demanding all along, from advanced features (for setting profit targets or stops) to basic market orders for the very first time!
- Trade 18 currency pairs, including 5 fiat currencies (CAD, USD, EUR, GBP, JPY) and multiple digital currencies (Ether, Litecoin, etc.)
- Leveraged margin trading will be available to you on the bitcoin-euro (XBT/EUR) and ether-bitcoin (ETH/XBT) pairs

You’ll also get:
- Superior trading interface
- Lower latency trade execution
- 24/7, high touch support including live chat
- Sophisticated API (documentation: https://www.kraken.com/help/api)
- iOS app for trading on the go

​Cavirtex team members will be with you throughout the transition:

Greg Bell and Kyle Kemper of Cavirtex, who you may be familiar with, have officially joined the Kraken team. They are knowledgeable of all things Cavirtex and will make it their number one priority to ensure that your introduction to the Kraken family will be a smooth and successful one.

What do I need to do right now?

Read the FAQs (https://support.kraken.com/hc/articles/215613638) so you can learn in more detail how your account(s) will be affected

In order to ensure your funds don’t get held up, please refrain from making any form of deposit or withdrawal after Friday, Jan. 22 at 11:59 pm PST. (If you do make a deposit or withdrawal after this cut-off time, it’s okay -- it just may take longer for your funds to be processed.)

Prior to Jan. 26, make note of any orders you have open. (During the migration, all open orders will be canceled. You’ll be responsible for recreating all former open orders within your Kraken account once the migration is complete.)

Download your Cavirtex account history prior to Sunday, Jan. 24 at 11:59 pm PST for safe keeping. (Kraken will be able to provide it to you upon request at a later date, however, Cavirtex archival data requests will require significant processing time so we encourage you to take care of this in advance.)

What do I need to do on Jan. 26?

On January 26, you will receive an email explaining how to log in and access your account. The email will instruct you to only navigate to Kraken manually by typing “www.kraken.com” into your browser. If you receive an email that directs you to click a hyperlink to login to your account, this email is not from Kraken and you should discard as it may be a case of phishing. As an added precaution, the email will also be signed with our PGP key, which can be found here if you’re familiar with encryption: https://www.kraken.com/security/pgp.

This email will tell you everything you need to know about your username, password, two-factor authentication, etc. in order to access your account.

After reading the press release and FAQ, I still have questions.

Ask Kraken CEO Jesse Powell any unanswered questions when he holds an AMA to discuss the acquisition on Wednesday, Jan. 20 at 10:00 am PST: https://www.reddit.com/r/kraken

Where can I learn more about Kraken in general?

Visit Kraken’s support center here: https://support.kraken.com/hc
Chat live with Kraken here: https://www.kraken.com
Submit an email to support@kraken.com

Thank you for being a loyal Cavirtex client. We deeply appreciate your business and look forward to providing you with even better service at Kraken.

The Cavirtex & Kraken teams

Nov. 12, 2015, 11:13 a.m. - Cavirtex Partners with Vogogo for Rapid Deposits and Withdrawals

Today we are announcing a partnership with Vogogo Inc. to improve the trading experience for current and future account holders on Cavirtex.

After Cavirtex and Vogogo complete a tech migration and Cavirtex users complete a re-verification process of their bank accounts, Cavirtex traders will have access to faster deposits and withdrawals on our exchange.

Founded in 2008, Vogogo is a trusted, publicly traded risk management and payment processing specialist with superior automated technology.

During the technical integration period, traditional EFT withdrawals and deposits have been temporarily paused. Interac remains as a CAD deposit option for clients, and users can also continue to deposit and withdraw funds via bitcoin as usual. The pause in EFT processing during this transition period was unexpectedly driven by policy changes at Cavirtex’s previous banking partner.

As part of the upgrade process, Cavirtex clients will re-verify their bank accounts in order to link them to the new Vogogo platform. Once a bank account is linked, EFTs will typically be processed in 1 to 2 business days. This is a significant improvement over Cavirtex’s previous EFT processing times with our prior partner, which took a full week to clear. Cavirtex account holders will have a $10,000 daily limit for standard EFT transfers, which can be increased on a user-by-user basis.

During this transition period, you will continue to be able to use Interac as a funding option to instantly transfer up to $1,000 into your Cavirtex account. Bitcoin deposits and withdrawals continue to function as normal.

For more information and for technical support, contact wecare@cavirtex.com.

[Swordsoffreedom]

Bidding my farewells to the Cavirtex thread as my side sig has now outlived its usefulness ha-ha
In addition since the site now redirects to Kraken for usefulness I am posting the Kraken thread here if (Kraken gets merged in the future lol) Then it might skip a gen and a new url may appear
Hello free deposits for now and hopefully a cloudflare that is paid for lol.
https://bitcointalk.org/index.php?topic=290799.0

[acorcos]

Project still alive?

[explorer]

Project still alive?

Kraken doesn't function very well, but yes, it is still alive.