qTrade is a cryptoasset exchange located in United States. Their volume over the last 12 months is $36.17M. The exchange is rated “A” which means “Transparent.” They are a crypto-only exchange.
qTrade LLC is a cryptocurrency exchange that started its activity in April 2018. The company is registered and based in Lawrence, Kansas, US. The platform that can boast of solid, scalable architecture and the highest level of security, delivers split-second trade execution.
The team behind the project follows the goal to improve the blockchain technology and remove the barriers preventing its growth. The company complies with the current regulation of the US and this contributes to its reliability. It excludes any unlawful behavior on behalf of customers and developers. The company doesn’t handle fiat currencies and works with cryptocurrencies only. With the development of the platform, it plans to get the proper licensing to add fiat transactions for convenience of its users but there is no such goal for the nearest future at the time of writing.
The problem of scalability is a topical problem for many blockchain systems, so qTrade tries to avoid it while designing its engine. The in-house team has developed the trading engine from scratch. Its unique architecture enables scaling in case of necessity. It was also stress-tested to guarantee the fast execution of orders at any conditions. This issue is monitored by the team so that the users could enjoy the fastest transactions. Third-party trading platforms are also supported by the exchange, as well as algorithmic trading via API.
The exchange tries to provide a good selection of digital assets for trading. Taking into account the goal pursued by the company a big assortment of supported assets complies with it. It helps to develop and promote cryptocurrency trading thus supporting an emerging technology. The list of assets includes both popular and new cryptocurrencies as well as digital tokens. The company offers qTrade Wallet service where users can send, receive, and store digital assets supported by the platform.
qTrade focuses on listing coins built from a fresh codebase. There should be much development work behind the selected cryptocurrency, or the team should legitimately do something interesting with distributed ledger technology according to the founder of the platform. Being interested in strongly tech-focused projects, the management tries to evaluate the potential of the project before accepting it for consideration. Some coins that are added to the platform are integrated even before there is an API for trading which helps to notice bugs and troubleshoot points. Many factors are considered when a cryptocurrency is reviewed such as innovation, the popularity of the coin, and its competitive edge compared to its business rivals. The preferred features also include easy integration with well-documented API, durability, the expertise of the dev team, and an active community. QTrade prefers coins not listed on top exchanges and welcomes long term projects without pre-mine/ICO as they give preference to fair distribution models. The listing fee varies from 0.1 to 2 BTC depending upon the project.
All technical decisions that are made on the platform strongly consider the safety aspect. All steps should be protected to be accepted as security is of utmost priority on the exchange. The company is using the best practices and technologies to protect its reputation employing such measures as two-factor authentication, leverage cold wallet storage, and other effective security technologies. The cold storage system employed by the company features strict air gap rules for offline signing.
The users’ information stored on the servers of the company is well protected with the help of industry-leading security procedures and technologies. The staff is highly qualified in cryptography and security advanced practices.
The hot wallets are also securely safeguarded. All signing keys, for example, are maintained in an isolated permissioned cluster, which handles only transaction signing. This reduces the risk considerably during the potential breach of the system. Without the possibility to get signing keys directly the attack area is smaller.
The qTrade also follows the AML Policy to meet the US standards on combating money laundering and terrorism financing. Therefore, identity verification procedures such as KYC procedure are conducted on the platform. The company also has appointed a Money Laundering Reporting Officer who is responsible for oversight of compliance with the legislation, regulations, and rules.
The platform doesn’t charge makers to promote liquidity to the exchange, while takers are charged with a fee that varies depending upon the cryptocurrency. The company doesn’t charge for placing and removing an order that is not executed so it won’t cost you anything if you cancel an order. The fee also depends upon the volume traded. The account is placed into the “rebate tiers” depending upon it. It is calculated by summing the value of all user’s trades for the last 30 days for further conversion into USD value.
It is also important to consider the withdrawal fees when selecting the exchange. The amount again depends upon the type of cryptocurrency. For instance, users withdrawing Bitcoin, have to pay a fee of 0.0005 BTC.
qTrade customer support
The customer support of the company is responsive and always available as it works round the clock without days off. It means that customers can apply to the members of the team at any time with their questions, technical problems to get answers as soon as possible. Though the resource is translated into some other languages, the support is available in English only.
The team of the company includes highly qualified professionals in the technical sphere with big experience of work in the blockchain industry. Previously, the team has developed its mining pool already. The technology was upgraded later to perform additional functions such as automatic currency conversion and arbitrage for miners.
The co-founder of the platform is Isaak Cook who studied Computer Science at the University of Kansas and worked on web services with Eric Cook who is the second co-founder of qTrade. Eric is also a graduate of the University of Kansas where he studied Business Information Systems. They both were involved in the work over fully automated crypto service mentioned above that runs numerous third-party software.Read More