CaVirtex Closing Down

CAVirtex Square LogoOn February 15, 2015, CaVirtex found reason to believe that an older version of thier database that included 2FA secrets, hashed passwords and API keys, may have been compromised. This database did not include identification documents and all customer funds are safe.

CAVIRTEX has determined to cease active operations in the Bitcoin business and to return all customer funds. They are doing this because the security and the safety of customer funds are paramount to thier mission and to the success of Bitcoin in general. They believe that the damage to the company’s reputation caused by the potential compromise will significantly harm their ability to continue to operate successfully. All trading on the platform will cease on March 20th. They are asking all customers to please withdraw their funds by March 25th, 2015.

They are asking all clients to do the following:

1) Clear any CAVIRTEX browser cookies.
2) Log into your account and change your password.
3) Go to Settings -> User Preferences and set your BTC and LTC return address at the bottom of the page.

Bitcoin and Litecoin withdrawals were re-enabled late last week for those who had entered new return addresses, but they are reviewing accounts for suspicious activity and approving accounts for withdrawals on a case by case basis. For expedited service, please email Processing accounts may take time.

CAD withdrawals are also available, but there is a queue for direct deposit exceeding thier payment processor’s daily limit. Expect CAD withdrawals to take at least 6 business days.

CAVIRTEX continues to believe, as we have over the last three and a half years of operation, that cryptocurrency is here to stay. They appreciate all the support from our amazing customers who have been on this journey with them.

Coinkite Removes Limits on Multisig Bitcoin Wallets

Coinkite Bitcoin WalletCoinkite is now offering its starter membership free of charge, a move that finds the bitcoin technology startup removing the 1% withdrawal fee formerly associated with the service.

The offer makes a number of Coinkite services available up to certain limits. With a starter account, users can create multi-signature wallets, watch-only accounts and send bitcoin by SMS, email and voucher, among other services.

Read more here on CoinDesk:

CaVirtex ATM Locations

CaVirtex ATM LocationsCaVirtex is excited to announce that their Bitcoin ATMs (BTM’s) are up and running.  It was with great pride that CaVirtex placed the ATMs in prime locations throughout the Greater Toronto Area, Ottawa, and Niagara Falls. You can buy Bitcoin instantly in person with Canadian cash. All you need is a cell phone that can accept text messages. All CaVirtex Bitcoin ATM’s are connected to their exchange so you can be sure you are getting the best execution from Canada’s largest and most liquid Bitcoin exchange. CaVirtex Bitcoin ATM’s are located in prime locations for your convenience. Below are the locations of their Bitcoin ATM’s, including the Ottawa location:

•       Bayshore Shopping Centre (100 Bayshore Dr., Nepean)
•       Scarborough Town Centre (300 Borough Drive, Scarborough)
•       Yonge and St. Clair (2 St Clair Ave. W., Toronto)
•       Greyhound Bus Terminal (610 Bay St., Toronto)
•       Brookfield Place (181 Bay St., Toronto)
•       Square One (100 City Centre Drive, Mississauga)
•       Yorkdale Shopping Centre (3401 Dufferin Street, Toronto)
•       Casino Niagara (5705 Falls Avenue, Niagara Falls)

Start now by creating your FREE CaVirtex account and online wallet to deposit your bitcoins.  Sign up here: CaVirtex Account & Bitcoin Wallet

CaVirtex Accepts INTERAC Online

Cavirtex Interac OnlineCaVirtex, Canadian Bitcoin Exchange just recently added INTERAC Online as a deposit method. Therefore if you have a TD, Scotia, BMO or RBC bank card that is non-VISA Debit you are able to use INTERAC Online as a payment option to fund your account.  How it works is that you be will sent to a payment gateway and simply select  the amount and the bank in which you would like to withdraw your funds from.  You will then be sent to your bank’s site where you will login and see the transaction processed along with the funds debited from your account.  It’s that easy.  Props to CaVirtex for adding INTERAC Online to their wheelhouse of payment options.  To create your FREE account with CaVirtex sign up here: CaVirtex Account

FINTRAC Confirms BTC Rules not in Force

fintrac-logoAs expected, FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) has confirmed that changes to the Proceeds of Crime and Terrorism Financing Act included in Bill C-31 will not cover individuals or businesses that use virtual currencies for buying and selling goods and services.

The statement also specifies that “the changes will come into force once regulations are published in the Canada Gazette, meaning that they are not yet in force.

Through informal discussions with various regulators, the Bitcoin Foundation Canada has received information that the regulations which still need to be drafted would most likely not be published before 2015. These clarifications come two weeks after the Bitcoin Foundation Canada’s Bitcoin Legal and Regulatory Update and a few days after the BFC published a report entitled “Bitcoin and the law”.

Once published, the regulations should clarify exactly which types of business models would be covered by the changes. The recent FINTRAC comments confirm that virtual currency exchanges will be covered by the existing rules of Canada’s anti-money laundering and anti-terrorist financing regime.

The statement doesn’t mention any other Bitcoin-specific business models being affected by the changes of Bill C-31. However, according to Jillian Friedman, “depending on the business model and the scope of pending regulatory amendments, a Bitcoin ATM operation may be considered a money service business.”

Moreover, discussions with various government representatives have led us to conclude that no sweeping new laws or regulatory regimes such as Ben Lawsky’s “BitLicenses” are being considered in Canada at this time. This reinforces our belief that Canada could assert itself a major international Bitcoin hub.

These clarifications stand in contrast to a 2013 Ministry of Finance memo highlighting Bitcoin’s risks recently released to the media and should be interpreted by the Bitcoin community as a reasonable attempt by the government to mitigate risks of money laundering.

Clearly, the opinions and attitudes of Canadian authorities are evolving as their knowledge of Bitcoin increases, thanks to the efforts of Bitcoin advocates all across Canada.

Link to article on

LocalBitcoins New Features

Buy Bitcoins with CashBelow are some highlights from LocalBitcoins and the bitcoin world.

  • Secure your account with login guard
  • Quick sell: Cash out bitcoins faster and safer
  • Floating prices in cash trade: friendlier in bitcoin market fluctuation situations
  • HMAC authentication option recommended for API users

Secure your account with login guard

Login guard is a new feature for your LocalBitcoins user account. If you choose to turn on the login guard option you will receive an extra email confirmation for all login attempts from web browsers the site has not seen before. LocalBitcoins recommends turning on both two-factor authentication and login guard for protecting bitcoins in your wallet.

You can find login guard under your Account security settings.

Quick sell: Cash out bitcoins faster and safer

LocalBitcoins has released a faster and safer way to sell your bitcoins: Quick sell. The new feature is especially helpful when paying bills with bitcoin.

Quick sell goes through all matching buy advertisements from reputable traders on LocalBitcoins. It chooses the advertisement with the best exchange rate and then makes a trade request.

Floating prices in cash trade: friendlier in bitcoin market fluctuation situations

Usually the price for bitcoin is determined at the moment of opening a trade request. However this might not be very fair for local cash trade where negotiation and agreement for the meeting may take days during which bitcoin exchange rate may change radically. Now floating priceoption is the default for local cash sells on LocalBitcoins. When you have a sell advertisement for cash, the price is determined on the moment of trade finished (escrow release).

See floating price option on your local sell advertisement edit screen.

HMAC authentication option recommended for API users

For developers, it is now possible to access the LocalBitcoins API using HMAC authentication instead of OAuth 2. This new authentication method is more suitable and secure for your own scripts and non-distributed applications. We suggest to use it whenever possible.

Happy bitcoining!

LocalBitcoins staff

CaVirtex Bitcoin ATMs

CaVirtex ATMsCanadian bitcoin exchange CaVirtex took to social media on Tuesday to tease a little something our Canadian bitcoin friends might find exciting.

The company is apparently planning to deploy a small network of bitcoin ATMs in Canada. With little other information, the company posted two images on their official Twitter account.

The first image depicted a lone unit branded with the famous Canadian flag. The second, a series of units. Eight of them to be exact. Not a terrible lot more is known about the deployment of the network, thought he company did indicate that one of the units would be destined for Ottawa.

That’s no surprise, either. The machines appear to be manufactured by Ottawa-based BitAccess. The devices feature AML/KYC security measures, and also allow for two-way transactions. That means customers can either buy bitcoin with fiat, or sell their bitcoin in exchange for fiat.

To trade with CaVirtex sign up here: Register

Read more here:

CaVirtex Slashes Trading Fees!


The Bitcoin exchange business is rapidly growing around the world. To stay competitive CaVirtex are drastically reducing thier fees! Unlike other exchanges, they give you credit for 120 days of BTC volume, not just 30, so if you trade 100 BTC and 3 months pass, you would still qualify for our second fee level of 0.6%!  Fee structure is below.  If you don’t already have an account and want to take advantage of this killer offer, sign up here: CaVirtex Sign-Up

120 Day BTC Volume – Fee
Less than 100 0.75%
Less than 200 0.6%
Less than 300 0.5%
Less than 400 0.4%
Less than 600 0.3%
Greater than 600 0.2%

Create your account here: FREE Account

CaVirtex Accepts Cash & Debit

CaVirtex Colourful BitcoinYou asked for it and now it’s here!  Through CaVirtex’s new partnership with Money Mart you can now take cash or use your Debit card to make a deposit into your CaVirtex account.  Money Mart only charges $1.99 for you to use this service.  To get started simply login into your CaVirtex account, select “Deposit Fund” from the left rail then proceed to the “Deposit CAD” area where you will select “In-Person Bill Payment” from the drop down menu of deposit options.  Below is a snapshot of the procedure and what to look for to create the invoice you will bring into Money Mart or InstaCheques.  If you don’t already have a CaVirtex account you can sign up for a FREE one here: Free CaVirtex Account


Cash Deposit with Money Mart Procedure

How to Buy Bitcoin with Cash?

Buy Bitcoins with CashThis method was the earliest of those adopted and remains the most popular.   You simply look for sellers that allow you make a cash deposit at the bank of your choice (you don’t need to have an account with that bank) and place your order.  The seller will then provide the account information you need to go to the teller with cash and make the deposit into their account.  The cash will be available in their account instantly and upon uploading a copy of the receipt through LocalBitcoins “Attach Document” feature, below the message box, the seller will then verify the details and release your bitcoins from escrow.

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