One downside that I hear from some people is that Coinberry only offers a limited range of coins. While that is true, they are continually growing their selection, and if you are new to cryptocurrency, most of the main coins you have heard of will be available. If you are after a crypto exchange with more coins, you can try out Binance with over 600+ coins, or KuCoin, with over 700+ coins.
- The app is very user-friendly and intuitive, so it is perfectly suited for beginners.
- If you’re interested in earning passive income from your crypto holding, you can earn up to 11% APY by staking DOT, SOL, ETH, or ADA.
- First, you need to add Coinberry as a recipient, then, you need to enter the amount you would like to fund your Coinberry account with.
- While it has limitations, the team is open to feedback and may consider incorporating suggestions for improvement in the future.
Along with Coinsquare and Bitbuy, Coinberry is probably Canada’s most famous crypto exchange and trading platform. During the previous five years, the company has positioned itself as an excellent marketplace for new investors, thanks to its simplicity and well-thought-out trading interface. Lastly, Coinberry has to think globally (or at least cross-continentally) if it hopes to become a dominant force in the market.
The total BTC selling fee was 1.71% (10th overall) and the BTC spread was last place at 4.19% (18th overall). To compare, NDAX had a total BTC purchase fee 0.49% (1st place), Coinbase was 4.54% (17th place), and Crypto.com was 1.68% (9th place). 2.5% is coinberry review a hefty price to pay, much higher than the commission fee charged by other platforms. While you can always check the spread before confirming your trade, I would prefer to pay a fixed commission fee upfront because it’s more transparent and predictable.
Coinberry offers an extremely easy-to-use cryptocurrency exchange specifically tailored towards a Canadian user base, with CAD being the main currency. Verification is quick and its well-designed app makes trading it a pleasure to trade what is a decent range of coins. Coinberry is a cryptocurrency exchange specifically tailored towards Canadian users.
The Trustpilot Experience
Below is a shared list of the article sources used for this review. Yes, this is a goto exchange for all Canadians thanks to the zero-fee CAD deposits and the Crypto Tax tool for Canadians. Coinberry does not offer a charting interface for active traders. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Coinberry Crypto Taxes
You should be aware that you may lose a significant portion of your portfolio. Prior to any of that, you can also check out the help center pages on their site. Here you will find good answers to some of the most common questions asked by other traders without needing to contact anyone. Here we will take a closer look at this, and the variety of other features and capabilities that you can find when trading with Coinberry. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated.
Coinberry Trading Fees
Sign up, verify your identity, fund your account, and invest. That’s all there is to it and all of this is built upon a very secure platform with a government regulation that helps you sleep at night knowing that your funds are safe. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions.
CRYPTO WITHDRAWALS TAKING HOURS AND HOURS
Once you successfully add funds to your account, you will be able to buy or sell digital assets on the platform. Canadians who are 18 or older can open a Coinberry account and start trading popular crypto assets. You will first need to go through the KYC process and prove your identity.
Become an investor and earn high-yield passive income or get a low-interest loan funded by your Canadian peers. Wealthsimple keeps track of your trades and automatically imports the information into Wealthsimple Tax to make reporting and filing taxes a breeze. If you’re interested in earning passive income from your crypto holding, you can earn up to 11% APY by staking DOT, SOL, ETH, or ADA. Get a $25 welcome bonus on Newton when you trade at least $100 in cryptocurrencies using this referral link or by clicking the button below – No Newton promo code required.
Last but not least, once the e-Transfer has been set, the balance will be deposited into your Coinberry account. Yes, it is regulated by the Canadian government and they are also partners with Gemini Trust Company LLC™, this gives you digital asset insurance of up to $200 Million. If you are unsure you should get independent advice before you apply for any product or commit to any plan. There are a number of ways you can get in touch with the Coionberry support team if you need to. The first, and likely most convenient of these is through their dedicated live chat service hosted on the website. Coinberry offers a solid collection of 38 different cryptocurrencies at the time of writing this article.
Interac transfer, credit card, and bank wire are all available, though the bank wire carries a much higher minimum deposit. Its main advantages are charging no fees on deposits or withdrawals and offering valuable tools for automating the purchase of cryptocurrencies. Our main concerns are the potentially high trade fees and the lack of more advanced tools aimed at expert traders.
Once your account is open, you can deposit and withdraw funds from your Canadian bank account. They are also backed by a form of insurance that protects against financial losses due to dishonest acts and unethical behavior from Coinberry employees. If you need a simple yet efficient trading platform, you definitely should. Coinberry is a well-respected Canadian digital asset trading platform with years of experience and a wide selection of tradeable cryptocurrencies. While Coinberry and Bitbuy are safe platforms, Canada has dozens of choices.
Although Coinberry is very secure and has never been hacked since its establishment in 2017, there is always a small chance of it occurring. The safest way to store your cryptocurrency is in your own personal wallet (either a soft wallet or a hardware wallet). Coinberry has a lot of good points going for it, but there are a few downsides of this crypto exchange. If you want to read about these disadvantages in a bit more detail, you can click on the respective jump links below. 3) Coinberry has a mobile app available for iOS and Android so you can trade whenever and wherever you are.