VirgoCX is a fiat-to-crypto exchange based in Toronto, Canada. It offers top-notch trading experience to both retail and institutional investors worldwide. The platform is secure, reliable, and liquid, allowing users to buy, sell, and trade Bitcoin, altcoins, and other digital assets.

The VirgoCX Solution

VirgoCX seeks to redefine crypto trading by offering the following solutions:

  • Cost-effectiveness: VirgoCX has introduced industry competitive trading and transfer costs.
  • Liquidity: The platform offers high liquidity for users at any time, while optimizing their executed price.
  • Security: VirgoCX employs a time-tested platform to protect users against internal and external threats.
  • Simplicity: The platform has a user-friendly interface, which makes it easy to use, even for new traders.
  • Reliability: Users can count on the reliability of the VirgoCX platform. It offers 24/7 continuous trading with rapid fiat deposits and withdrawals.

The VirgoCX Exchange went live during 2019 Toronto Blockchain Week, where it attracted more than 200 users including industry professionals, blockchain and cryptocurrency experts. Some of the industry bigwigs present included:

  • Jeffrey Wernick (Early Bitcoin investor)
  • Eric Gu (Metaverse Founder)
  • Organizations such as MakerDao and MNP

VirgoCX OTC Desk

The OTC desk offers premium services to users who would want to conduct large-scale trading, amounting to more than 75,000 CAD or $50,000 USD. The desk has a designated account manager to help clients with ensuring a smooth, end-to-end trading experience. Regardless of whether clients would like to trade in CAD or USD, the VirgoCX platform provides top-notch service at competitive rates.

Importantly, the OTC desk allows users to trade fiat across various cryptocurrencies including BTC, ETH, and USDT. The platform aims to add more cryptocurrencies in the future.

VirgoCX OTC Desk Trading Hours

Traders using the VirgoCX’s OTC Desk should perform their transactions between 8.30 am and 6.00 pm Eastern Time, Monday to Friday. Outside the regular trading hours, the trading the OTC Desk trading team can only assist traders on a best effort basis.

When the OTC team receives a trade request, an account manager will be available to give the client a live quote as soon as possible, to ensure that the client closes the trade in the shortest time possible. The OTC then promises never to charge any extra trading fee apart from the regular quote provided. VirgoCX aims to provide the most competitive OTC quotes for all its clients.

How to place VirgoCX OTC Trades

The VirgoCX platform is simple to use, even when it comes to placing trades on the OTC desk. The process requires only a few things:

Account application

Clients can register on VirgoCX OTC Desk through two ways. Application is open through the platform’s website and by e-mail application. In both cases, the client must provide the information required. Both retail and institutional clients can open the OTC account and enjoy the best trading experience that the VirgoCX offers.

User Verification

Upon opening the OTC account, the client gets access to an experienced account manager to guide him through the entire onboarding process. During the process, the client provides all the related documents to enable the account manager to complete the procedures regarding KYC and AML compliance.

Quote Receiving

Once everything is verified, the account manager provides the client with a live quote offer, which the client considers and accepts.

Fund Transfer

Upon acceptance of the offer, the client transfers funds to VirgoCX’s bank account (fiat) or the platform’s digital currency wallet address.

Trade Settlement

After settling the trade, VirgoCX remits the traded coins, tokens, or fiat currency to the client. Domestic bank transfers often mature within one or two days, while international transfers may take longer. Digital currency transactions often mature on the same day.

The views and opinions expressed in the article What Is VirgoCX – Safe Cryptocurrency Exchange? do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.

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