Frequently Asked Questions

What is Bitcoin?

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by lots of people running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency.

What is Taurus?

Taurus Bitcoin Exchange is an online trading platform that allows users to trade bitcoins with each other in real time, 24/7/365.

We are incorporated in the province of British Columbia, Canada and operate under a valid money services business (MSB) licence issued by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

How do I trade?

After you have deposited funds you may place a live order. Please go to the Trade page and choose the type of order you would like to create: Instant or Limit. Your order will execute automatically when a matching order appears in the order book.

How do I cancel an open order?

To cancel your open order go to Open Orders and click the Cancel button. Please note that if your order has already been executed partially, only the remaining amount will be cancelled and restored in your balance.

What is an instant order?

An instant order, also known as a market order, is a type of order that executes instantly by going through the open orders in the order book until the full amount is fulfilled. In case of buying, you enter the fiat amount you would like to spend, and your order will go through the order book starting from the lowest asking price. When you place an instant sell order by specifying the amount of bitcoins you want to sell, it goes through the order book starting from the highest bid.

Instant orders do not appear in the order book as they are executed instantly.

What is a limit order?

A limit order is an order that lets you set the minimum price you would like to sell your bitcoins for or the maximum price you want to buy bitcoins for. When a matching order appears in the order book your order executes automatically in full or partially, depending on the matching order amount.

Do you charge trading fees?


Is Taurus secure?

One of our priorities is security of all the customer data. Taurus has a valid SSL certificate that encrypts all the connections by default. In addition, we implement various software solutions, such as CloudFlare, to further secure our platform from cyberattacks.

Customers' personal data and verification documents are stored on secure encrypted hard drives and are never shared with any third parties except when it is required by law.

How do I deposit?

We offer multiple deposit options. Please go to the Deposit page and choose the option of your preference. Clear instructions on how to deposit will follow afterwards.

How do I withdraw?

Withdrawing funds from your Taurus account can be made using several withdrawal options. Please go to the Withdrawal page, select the payment method of your preference and clear instructions will follow.

Can I use someone else’s bank account for deposits?

Taurus follows a strict KYC / AML policy that prohibits any third-party deposits and withdrawals. You can only use a bank account that belongs to you exclusively.

What is a third party withdrawal?

A third-party withdrawal is a withdrawal performed on behalf of another party such as an individual or an organization. Such withdrawals are not allowed. You can only withdraw funds to a bank account that belongs to you exclusively.

I forgot my password. What should I do?

Please use our password reset feature on the Login page. You will receive an email with further instructions.

What is 2-Factor-Authentication?

2-Factor-Authentication (2FA) provides an additional layer of security by requesting a one-time password each time your perform an action such as login or withdrawal.

We highly recommend that you enable the 2FA option for your Taurus account to prevent cyberattacks. Please go to the Settings page in your account to do so.

How long does a bitcoin deposit take?

Taurus requires 3 network confirmations for bitcoins to appear in your account. It may take from 15 minutes to 1 hour to clear depending on the network performance. We recommend that you pay a miner’s fee to ensure faster processing.

Is there a fee to withdraw Bitcoin?

No. Bitcoin withdrawals are free of charge.

Why do I have to verify my account?

Taurus has developed an extensive KYC / AML policy to comply with the international anti-money laundering laws. Identity verification is a standard procedure required from all the entities that operate as money services businesses (MSB).

Taurus is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as an MSB and follows all the guidelines provided.