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About the Customer
Servicing Canada, Bitvo is a state of the art cryptocurrency exchange that facilitates buying, selling and trading cryptocurrencies through its website and mobile applications. Bitvo differentiates itself by making transacting in cryptocurrencies easier than anyone else and offering proprietary features such as the Bitvo Same Day Guarantee, the Bitvo Cash Card and technical analysis tools.
Bitvo is a cryptocurrency exchange founded by experienced Canadian financial entrepreneurs. In late 2017, current Bitvo President & CEO Pam Draper transitioned from a 14 year career in corporate and investment banking at BMO and CIBC to join forces with a large shareholder at a TSX-listed company whom she had helped broker the sale of as a lead investment banker. Pam said of the partnership, “We wanted to start a new company to address concerns that he had with respect to cryptocurrency––primarily around security and reliability. We thought that we could, based on our knowledge of the movement of money, do this better than a lot of the other players in the industry.”
Canada’s crypto-ecosystem seemed ripe for entry when Bitvo launched in 2018. Many Canadian businesses have examined blockchain and how they might integrate the technology. According to a 2019 Deloitte survey, 53% of responding firms see blockchain as a top-five strategic priority––a ten percent increase over 2018, and 96% of Canadian companies with 500 employees or less have considered implementing distributed ledger technology. Moreover, the blockchain and cryptocurrency industry has thrived in Canada in part due to the country’s low energy cost, high internet speeds, and favorable regulations.
Regulatory compliance, operational transparency, and internal accountability are three areas of emphasis Bitvo relies on to differentiate from competitors. Pam Draper explained, “We expect clients of any crypto-related business to be asking a lot more questions about who the founders are, due to high profile failures in the Canadian crypto industry. They should be asking how they operate and what standards do they hold themselves too,” and continued, “The effect of this will be further weeding out of weak business models and consolidation around companies with industry-leading standards. This is a natural process in any developing industry or asset class. Enforcement and elimination of rogue business practices strengthen the crypto industry and legitimizes wider adoption.”
Powered by AlphaPoint’s exchange software, Bitvo provides its customers with the convenience of instant account registration, same day processing of deposits and withdrawals and live customer support 24 hours a day, seven days a week, guaranteeing to refund customers’ fees if they are unable to honor.
Traders have in-app technical analysis tools at their disposal that rank all cryptocurrencies offered from relatively favorable to unfavorable, taking into consideration hundreds of different technical indicators, amalgamating them into a complicated AI learning formula that looks at how current TA indicators have historically predicted past performance, and creating a corresponding value score. Additionally, Bitvo automatically charts technical analysis graphs so that users can see how the different cryptocurrencies are screening to assist in trading decisions. For advanced users, there are 20 plus unique technical indicators for consideration.
Bitvo is the only Canadian platform and one of only a few platforms globally that offer a card allowing customers to spend funds directly from their balance, without having to transfer out to a bank account. Bitvo’s Visa branded card allows customers to take out funds at over 2 million ATMs in over 200 countries and make purchases globally. This capability was made possible through Bitvo’s strategic partnership with DC Bank, a Schedule 1 licensed Canadian bank.
Bitvo is also an authorized dealer of Stablecorp’s QCAD, Canada’s first stablecoin designed for the mass market. By using QCAD, Canadians can minimize their exposure to volatile crypto prices and FX fluctuations with a stablecoin denominated in their native currency. Pam commented on QCAD’s utility, “The demand for stablecoins is based on ease of transaction and less volatility. For institutions, the demand for stable coins reflects a desire to have a bridge to facilitate transactions more seamlessly. It’s easier to use without the constant conversion in and out of the banking system.”
For enterprise clients, Bitvo offers a full OTC desk where institutions looking to place larger trades are provided a customized, white glove service, with direct access to Bitvo’s trading team to execute trades on demand, with everything handled internally from order pricing to execution of wires.
Their retail trade platform is also offered in mobile, recently updating the iOS app, and a brand new Android offering available on Google Play.
Connect with Bitvo
Interested in trading on Bitvo? Register for a free account here: https://my.bitvo.com/register
To learn more or connect with Bitvo at any time, please visit https://bitvo.com/ or contact Bitvo’s support team at firstname.lastname@example.org, call 1-833-86BITVO (1-833-862-4886), or start a live chat here.
Follow Bitvo on Twitter @BitvoExchange
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