However, there are some people who have had trouble withdrawing assets. Transaction fees are displayed before trade confirmation and include the Coinberry spread and the fees charged by liquidity sources. Coinberry predetermines transaction fees by adding a margin of 0% to 2.5% on top of the cost charged by platform liquidity sources.

coinberry reviews

Credit card, Interac e-transfer, and wire transfer financing limitations are $500, $10,000, and $500,000 CAD, respectively. Free deposits and withdrawals is great and you can easily transfer Canadian dollars without worrying https://broker-review.org/ about exchange fees. However, Coinberry has some of the highest fees we’ve seen of any crypto exchange in Canada. Typical trading fees are just 0.2%, so keep this in mind if you wish to trade with Coinberry.

Final Thoughts on Coinberry

In August of 2018, the business announced that they will be working together with BRD bitcoin wallet. It was reported that the independent financial audit had been successfully finished in January 2019. They are also completed covered by as much as $200 million in insurance on your held crypto-assets for which they partnered with the regulated custodian, Gemini Trust Company. Coinberry also has a financial institution bond underwritten by Lloyds of London that covers as much as CAD$1 million per claim.

Privacy-wise, Coinberry requires all users to have a 2FA system set up and uses the latest in SSL/TSL encryption technology to protect all transactions on the site. You can also buy Ether and many coins related to the Ethereum network, and the platform even offers a chance to get on the stablecoin bandwagon by purchasing some USD Coin . So, are all the rave Coinberry reviews by happy Canadians a bit overblown, or is this platform truly that good? How and where the offers appear on the site can vary according to the partnership terms. Affiliate partnerships may affect where a particular product is listed within a review, but they don’t affect the review’s content in any way.

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. Like conventional trading platforms, cryptocurrency exchanges charge fees on deposits, withdrawals, and transactions . The company was founded in 2017 and began as a Bitcoin ATM service. It might be the best cryptocurrency exchange in Canada for beginners, although fans of Newton would have something to say about that.

coinberry reviews

The Coinberry platform is suitable for beginners with its simple and modern layout. Simply click the buy button and you can use the funds in your fiat wallet to purchase crypto. View your portfolio, simple charting and your referrals in your dashboard.

The Coinberry Wallet

You also have the option of transferring Canadian dollars to Coinberry via wire transfer. First double check that the information in your bank account and your Coinberry account is the same and then put your account number into the “Notes” as appropriate. Coinberry is one of the few online crypto-coin platforms that provides “Live Support for all your Bitcoin queries,” which is a feature that is becoming more rare. You may also get in touch with them by e-mail if live chatting isn’t really your thing. Because of this, Coinberry is an excellent alternative for traders with less expertise. Coinberry Pay is available for free to anyone who wants to use it.

It offers 24/7 support and a helpful FAQ section on the website. Coinberry has mixed reviews with some people praising their customer support and others saying they have had unresolved issues. However, we submitted a support ticket and received a helpful response within minutes. Coinberry offers Canadians a simple-to-use trading platform to purchase cryptocurrency. Simply send an Interac e-Transfer or a bank transfer and you can buy crypto in minutes. The platform doesn’t charge any fees for deposits or withdrawals, so they’ll be able to use more of their crypto for selling, buying, or trading.

Coinberry Exchange Pros

The first place that users should look if they are experiencing issues is the Coinberry help center. This is a page that has an extensive list of FAQs and solutions. If the issue is not listed in this section, there is a contact form at the bottom where you can go into specific detail about the issue. This form will be sent off to the Coinberry customer support staff where it will be reviewed and you will be contacted back with a solution. This form is the best method for users struggling with the registration process who don’t yet have an 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.
  • Coinberry complies completely with FINTRAC’s Anti-Money Laundering and Know-Your-Customer standards.
  • As a trader, you have peace of mind not having to worry about fees for moving fiat currency in and out of your account.
  • Funds and while waiting for a reply I looked up the issue I had in the support option within the app.
  • Coinberry is a Canadian-based cryptocurrency exchange, which is similar to trading platforms like Newton and Shakepay.

These bugs seem to have been addressed, though, because the most recent reviews of the apps are almost entirely positive. Coinberryhas intuitive, easy-to-use apps forApple iOSandAndroid. Though the apps currently only have a handful of reviews, both have above-average ratings. The only government-issued currency thatCoinberrysupports is Canadian dollars.

If you looking for a cryptocurrency exchange with a lot more coins to choose from, you can check out Binancewith over 300+ coins, orKuCoin, with over 250+ coins. I would love to see more coins on the platform to reach a wider audience and also a live chat to deal with customer issues. A live chat saves a lot of headaches for traders with deposit and withdrawal questions. Also, minor problems that might occur will be solved much faster.

Coinberry does provide Canadian users a protection offered by institutional-grade crypto exchanges, so the answer is yes. This company also provides insurance coverage of up to $200 million. Coinberry not only protects itself against external dangers, but they are also mindful of the hazards that come from inside the company.

Coinberry doesn’t support cryptocurrency withdrawals for all of their coins. As of March 2021, users can only withdraw funds in BTC, ETH, XRP, and LTC, which means XLM and BCH must first be exchanged for CAD or a supported cryptocurrency. Coinberry coinberry review is the first Canadian crypto exchange to offer 0% fees on CAD account withdrawals and deposits. The platform is also the only digital asset platform to partner with Canadian Government municipalities such as Innisfil and Richmond.

Pros and Cons of Coinberry

It is the safest and most secure FINTRAC-registered crypto exchange, so users can buy and sell with peace of mind. In 2019, Coinberry partnered with Municipal Governments in Canada for Bitcoin tax payment processing, making it the first and only digital currency platform to do so. Yes, Coinberry is a very safe exchange for Canadian users, with institutional grade crypto protection. Their digital assets are protected by Gemini Trust Company LLC™, the most regulated, secure and compliant digital asset custodian in the world, with $200 million in insurance coverage.

What crypto assets can I buy on Coinberry?

Coinberry is a very beginner-friendly platform and you don’t need any previous experience to start. The simplicity of investing in coins and the safety features make it a great hub for crypto investors to stock up on the biggest crypto projects on the market. Users have the option to withdraw cryptocurrency from their Coinberry account.

If they don’t charge a commission fee upfront, it means that they’re making money on the spread instead. Whether you’re trading stocks or cryptocurrency, fees can take a bite out of your returns if you’re not careful. Currently, Coinberry offers CAD deposits with Bank transfers, Interac e-transfer, Credit Cards, and cryptocurrency.