Coinberry Cryptocurrency Exchange Review

No doubt, Newton is one of the best crypto trading platforms in Canada and is suitable for beginners looking to get their hands on popular cryptocurrencies. It also offers instant verification, which is great if you want to purchase your first crypto fast. Even though Newton claims to be a no-fee crypto exchange, it has higher spreads than exchanges that charge trading fees . However, it is still a pretty decent crypto platform and fees are pretty cheap.

Doge was designed to be a lighthearted, friendly alternative to Bitcoin. A meme token, SHIB can be traded in the Ethereum ecosystem. Shiba Inu also has the ShibaSwap exchange, is an NFT-art incubator, and plans to launch the Shibarium ecosystem.

  • I could easily recommend crypto exchange and get my 40% cut of your transactions but it’s not the best choice for Canadians.
  • They sell cryptocurrency from their own inventory, and do not facilitate transfers from one Coinberry-user to another.
  • Users contribute to pools by depositing cryptocurrency into them.
  • Compound allows lenders to earn interest on their cryptocurrency and borrow other cryptocurrencies.
  • Security is one of the most important things to consider when choosing a cryptocurrency exchange.

It’s also the best altcoin exchange available for Canadians. It is a great crypto platform for Canadians to start and then continue to mire advanced trading since Binance offers tons of options and flexibility with crypto assets. Check more about this crypto trading platform in our Binance Canada review. Based in Toronto, CoinSmart has everything you need, whether your experience ranges from beginner to pro.

There are no fees on depositing and withdrawing your money if they are held in CAD, which means you’ll be able to buy and sell more. Coinberry and any crypto exchange can track where you have received and sent crypto since crypto trades are recorded on the blockchain and are public. Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual.

Coinberry Transaction Fees

Fantom is a Layer-1 blockchain that uses the Lachesis protocol for secure, fast, and cost-efficient transactions. Also, Fantom created a token bridge to Ethereum which allows users to transfer tokens in an easy and convenient manner. Protecting your digital assets and personal data is very importance to us.

In our opinion, it’s so underestimated crypto exchange by Canadians and North Americans overall. The cryptocurrency platform offers all kinds of order types and is a perfect choice for both beginners and serious investors. The best part about CoinField is the huge number of crypto coins they offer as well as low fees compared to the most crypto exchanges available for Canadians. Based on the Ethereum platform, Chainlink is a decentralized oracle network that enable blockchainbased smart contracts to connect to off-chain data sources.

Users contribute to pools by depositing cryptocurrency into them. Liquidity holders, then earn a portion of the trading fee paid to the network for using the funds and receive BAL tokens. Balancer pools can be made of up to eight different cryptocurrencies and pools can be weighted towards selected currencies.

There is no mention of using secure cold storage on the Netcoins website. Over two weeks later I still haven’t gotten approval to transfer squat. They demanded that 10% of the money I was trying to recover be deposited to transfer my money to my bank.

Some traders may opt to move their funds to a non-custodial wallet when they aren’t trading to better secure their funds. For the retail investors Coinberry caters to, the platform offers an Auto-Pilot mode that automates crypto purchases with the click of a button. First and foremost, they don’t seem to provide a very good customer service.

There are tons of reviews that complain about the lack of responsiveness, helpfulness and general competency. According to the complaints, if they do answer eventually, the reply may very well be a hollow one. E-Transfer is one of the major methods of money transferring in Canada. While it can’t be used to fund most other prominent exchanges online, it can be used for Coinberry. It’s an outstanding advantage, because it means most Canadian traders can trade with much more comfort now.

coinberry exchange

Given that you most likely hold your money in CAD anyway, it’ll be a smooth process to transfer your money from and to Coinberry. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, coinberry review we strongly recommend you consult your professional financial and legal services provider. Next, choose your crypto from the list then enter the type of order you want and how much you want to buy. To buy crypto, simply fund your account by clicking the “fund” button at the top of your dashboard.

Litecoin (LTC)

There are several specifically Canadian payment methods that can be used to fund your Coinberry account. It certainly includes Interac e-Transfer, but you can also use bank transfers from Canadian banks. The payment will go through fast and without much hassle.

coinberry exchange

They also allow users to expand on their investments and learn more about the projects you’ll be buying into, so you won’t just be blindly picking projects and praying. Based in Toronto, Coinberry is a technology company that gives Canadians an easy, secure way to buy and sell digital currency. You see, we believe that the digital economy should be inclusive.

Paying for a spread is nothing compared to some of the percentage-based fees you would be paying on other platforms, but the lack of assets sort of balances that out. Security is one of the most important things to consider when choosing a cryptocurrency exchange. You’ll want to find a cryptocurrency exchange that utilizes a cold storage system, which means to store coins offline and therefore less likely to be stolen by hackers. Some of the best Canadian exchanges will be insured for losses. For example, Wealthsimple’s coins are held by Gemini Trust Conmpany LLC™ with $200M in insurance coverage. The safest exchanges for Canadians will require you to go through a Know Your Customer verification process when signing up.

When I use services related to my financial assets, fast and helpful customer support is a MUST have, and Coinsmart has 24/7 live chat, email, and even phone support . Coinberry is a cryptocurrency trading platform or cryptocurrency exchange. Users can buy and sell supported digital assets after funding their account with CAD, BTC, or ETH. Read some reviews and get a feel for what these crypto trading platforms are good at and what their customers like and dislike about them. If an exchange has more bad reviews than good ones, then it’s probably best to stay away. Offering multiple trading pairs and altcoins, as well as fast deposits in Canadian dollars, CoinField is one of the top Canadian cryptocurrency exchanges.

How Long Do Deposits Take?

Currently, Shakepay only allows purchases of Bitcoin and Ethereum, but we still think it is one of the best exchanges to buy Bitcoin in Canada with low trading fees. Like conventional trading platforms, cryptocurrency exchanges charge fees on deposits, withdrawals, and transactions . No fees give them an advantage on price over several other large crypto trading platforms. As a trader, you have peace of mind not having to worry about fees for moving fiat currency in and out of your account. While the spreads are quite high at 1.8% for Canadians, we still think Uphold is one of the best crypto exchanges because debit card purchases are free.

coinberry exchange

Apart from being a simple store of value Ethereum is also a popular computing platform, so its price is also affected by the projects built on it. The native asset of the Bitcoin blockchain, Bitcoin is the world’s first decentralized digital currency for secure, peer-to-peer payments. No canadian dollar deposit and withdrawal fees so you get to keep more Bitcoin at the end of the day. Coinberry hasn’t been hacked in the past and they make quite an effort to keep their website secure. Although that’s true, if they ever get hacked, it would definitely be problematic for the user base.

What Is Coinberry Pay?

Typical trading fees are just 0.2%, so keep this in mind if you wish to trade with Coinberry. Toronto-based Coinberry offers a wide range of cryptocurrencies. The exchange is dedicated to making crypto accessible to Canadians. There are free deposits and fiat withdrawals but the trading fees are on the high side (up to 2.5%). You can buy crypto with an Interac e-Transfer or bank transfer, but not credit or debit cards. After managing to find its way onto the top 15 cryptocurrency exchanges list from Hardbacon, I felt like it was only right to see what makes this platform stand out.

See why we’ve already had 220K+ Canadians sign up and trust us, surpassing $1 billion in crypto trading. Initially over 500 customers exploited the vulnerability, with 23 bitcoins being returned following a request from Coinberry. It goes against our guidelines to offer incentives for reviews.

Is Coinberry a safe and secure option for Canadians?

I did not expect their five star and quality of customer service is beyond anything I have experienced in my trading life. Have been using Coinberry for the past few months and it has been reliable, easy to use and trustworthy. Security and verifications upon every sign in and transaction is excellent. Support staff promptly responds to all of my inquiries and have made my crypto experience less stressful knowing that I am supported by real people with close to real-time interactions via email.

Coinberry occupies a rather narrow niche of a Canada-aimed crypto exchange. It means that a lot of the local features are designed first and foremost to be beneficial for Canadian users. It doesn’t necessarily make the life of other traders harder, although Canadians usually get some financial privileges on Coinberry.

Coinberry does not offer any additional features such as staking or Visa cards. Yearn.Finance is a series of decentralized finance protocols running on the Ethereum blockchain. A virtual-world game on the Ethereum blockchain, Axie Infinity lets players collect, breed, battle, and trade in-game pets, or Axies. An alternative to Ethereum, this open and programmable platform uses the AVAX token and is known for its blazing speed, and high customizability as well as scalability.