CoinTrader Adds CAD Order Book, Looking to Snap up Canadian Market Share

Canadian Bitcoin exchange CoinTrader now allows users to trade bitcoins against the Canadian dollar (CAD). Although officially a Canadian exchange,

Canadian Bitcoin exchange CoinTrader now allows users to trade bitcoins against the Canadian dollar (CAD). Although officially a Canadian exchange, until now it has only offered USD-based trading.

The exchange had also previously partnered with a Canadian payment services provider, Vogogo. The latter can be linked directly to Canadian bank accounts for CAD deposits, which can now be traded directly for bitcoins.

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Coincidentally, the addition comes right around the same time as Vault of Satoshi’s (VOS) announcement of its upcoming closure. VOS was another Canadian Bitcoin exchange offering both CAD and USD pairings. CoinTrader’s addition may thus help it win some of the market share becoming available, although it may be limited- VOS’s volumes have not grown significantly over the past year.

Also like VOS, however, there is still a large bid/ask spread even in CoinTrader’s USD order book. The gap is currently $5.50 (2%). There are currently no active orders in the CAD book.

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