CoinSmart Review: A Customer-Centric Crypto Exchange

coinsmart review

CoinSmart is a cryptocurrency trading platform specifically tailored for Canadian cryptocurrency investors. There are fees to fund your account and to withdraw either cash or cryptocurrency, but these fees are fairly minimal. If you are looking for an easy-to-access platform to use to trade cryptocurrencies, then CoinSmart might be for you. CoinSmart is a decent option as a cryptocurrency exchange. There is some out-of-date information on its FAQ page that contradicts what is offered on its Markets tab. However, it provides deposit methods that other exchanges lack and most notably offers the ability to trade cryptocurrency pairs directly.

  • Inside the CoinSmart dashboard, you’ll find market information and your portfolio balance.
  • I do like that you can earn rewards by watching their educational videos and you can take advantage of staking and Defi yield through Coinbase Earn.
  • These posts are written, edited and produced by MoneySense with assigned freelancers.
  • If yes, then you will earn some money through the referral program.
  • You can deposit both Canadian and US dollars into your account as well as Euros.

On CoinSmart, you can use several payment methods when buying, selling or withdrawing cryptocurrencies. The way fees are charged is transparent and there aren’t any nasty surprises. The best way to avoid this is to move your crypto to a private wallet such as a hardware wallet for safekeeping. This way only you can access your crypto, provided you keep your private keys safe. Once funds are in your account, go to your dashboard and select “buy” next to the crypto you want to purchase. It uses plenty of cartoon-like icons, large fonts, and bright colours which makes it the cutest Canadian crypto exchange we’ve seen.

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Keep in mind that this article will be continually updated as we observe more scamming techniques. Enoch Omololu is a personal finance expert and a veterinarian. In Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. Get access to multiple fiat currencies and advanced trading tools. Access several popular coins and altcoins and staking to earn interest.

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You can fund your account via e-Transfer or wire transfer. Canadians who are considering opening a Coinbase account need to be aware that you cannot sell your crypto and transfer directly to your bank account. Your only option is to transfer funds to a PayPal account, then move them to your bank account.

What is CoinSmart’s mission?

A much lower-hassle platform than others I’ve tried for Canadians wanting to trade crypto assets. It’s easy to get verified and deposit money without fees.Still a few bugs in their system, but their help team is responsive and has quickly resolved any issues I’ve encountered. Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges.

coinsmart review

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WonderFi to acquire rivals Coinsquare and CoinSmart

Withdrawal fees are usually the same regardless of the coin. It is entirely up to you to choose a method, depending on your preferences. Users can see random ads on websites, Youtube, Facebook, and various local newspapers that encourage users to sign up and earn optimal investments. After signing up with their phone number, name, and email address. The users get contacted by the scammers and get coached into setting up an account.

When you apply for a Loans Canada service, our website simply refers your request to qualified third party providers who can assist you with your search. Loans Canada may receive compensation from the offers shown on its website. CoinSmart charges 0.20% -0.30% for commission on trades between Canadian dollars and any cryptocurrency. The platform charges 0.20% for single trades and 0.30% for double trades.

BBB Rating & Accreditation

You will see every successful referral under the commissions tab. Get exclusive access to our private library of e-books, special reports, online guides and popular newsletter. Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you. Find out everything you need to know on how to apply for a loan.

coinsmart review

They also have some other unique features such as a mining calculator where you can calculate how much you could earn mining crypto. They also have a “learn and earn” section where you can answer questions to a quiz and earn rewards. We think this is a nice touch to engage their customers and incentivize new ones to sign up. It’s also extremely helpful for those, who start a crypto journey. CoinSmart offers quick verification, an easy-to-understand interface, a high level of security, and the ability to fund your account using various fiat currencies. It also uses BitGo, an institutional digital currency custodian for crypto market leaders, to store its assets.

CoinSmart vs. Bitbuy vs. NDAX vs. Wealthsimple Crypto

In general, it is a detailed interface and report center that allows you to track your progress and activity. The platform is also very user-friendly, making it an excellent choice for those who are new to cryptocurrency exchange. This is one of the company’s most important selling points.

  • When making a trade, deposit or withdrawal you must confirm the transaction in your Google Authenticator app.
  • This CoinSmart review covers what you need to know about the platform.
  • Well, that’s for now and I do hope that they continue to prove they deserve their customers’ trust.
  • Our goal at RetireHappy is to present readers with reliable financial advice and product choices that will help you achieve your financial goals.
  • When you apply for a Loans Canada service, our website simply refers your request to qualified third party providers who can assist you with your search.
  • Coinbase is the largest cryptocurrency exchange in the US in terms of volume.

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