qTrade

qTrade Exchange

qTrade, launched in April 2018, was a centralized crypto exchange based in the United States (registered in Kansas). It aimed to shake up the crypto world with innovative ideas but shut down operations as of December 31, 2022, after four years. Now inactive, it’s still worth a quick look to see what it offered before its end.

What Stood Out

• Trading Pairs: Supported 3 trading pairs, with NYZO/BTC being the most active, though volume dropped to just ₿0.04 in its last days. Focused on unique, lesser-known coins.
• Fee Setup: No fees for makers (great for adding liquidity), but takers paid 0.5%–0.15% depending on volume—higher than the usual 0.25% industry average.
• Security Claims: Boasted split-second trade execution, 90% cold storage, and two-factor authentication, run by co-founders Isaak and Eric Cook from the University of Kansas.
• No KYC Hassle: Required phone-based 2FA and ID verification, so it wasn’t fully anonymous but simpler than some exchanges.
• Simple Design: Had a basic website with a no-frills trading view, focusing on speed over flashy features.

Things to Think About

• Inactive Since 2022: Closed due to evolving market needs and rising compliance costs, with withdrawals allowed until March 31, 2023—some may still face delays or extra fees.
• Limited Info: Little was shared about the team beyond the co-founders, and the lack of regulation raised red flags for trust.
• User Feedback: No major complaints online, but the quiet user base (over 94K traders at its peak) and sudden closure suggest limited engagement or reliability.
• Liquidity Drop: With only 1 coin and pair active by the end, trading got thin, which could’ve hurt bigger trades.
• Security Uncertainty: Despite security boasts, no proof of hacks or losses exists, but the shutdown leaves questions about past fund safety.

qTrade tried to bring fresh ideas with low maker fees and unique coins, but its inactivity since late 2022 makes it a non-option now. It’s a reminder to pick active, transparent platforms for trading today.