CoinSmart supports the deposit and withdrawal of cryptos in addition to Canadian Dollars, EURs, and U.S Dollars. Additionally, users may view fiat and crypto currency balances via the “Dashboard” and “Wallets” pages. The CoinSmart platform provides investors and traders with charts on the “Advanced Trade” page and “Dashboard”. Fiat currencies available to buy or sell with crypto include Canadian Dollar, EUR, and U.S Dollar. Alternatively, crypto-crypto pairings are also available to trade.
Recent CoinSmart User Reviews
We chatted with a Coinsmart tech Andre and he immediately closed my account due to 3rd party involvement. He acted quickly and ensured that the scammer would not be able to access the closed account. Examples of suspicious activity could be trading larger amounts than usual or more frequently, or depositing and withdrawing larger amounts than usual. CoinSmart is not an exchange where people often complain of accounts being frozen.
As a crypto exchange, CoinSmart allows you to buy and sell 16 different crypto coins such as Bitcoin, Ethereum, Litecoin, Cardano, USD Coin etc. Additional services play a key role in providing a comprehensive and user-friendly experience for crypto investors beyond basic trading functions. There are no overnight or custody fees, as only spot trading is available. Besides CoinSmart, there are several other Canadian crypto exchanges to choose. CoinSmart has 67% “excellent” reviews on Trustpilot, so the majority of customers are happy with the customer service and platform.
Bitbuy Support Channels
If you have found your Coinsmart trading experience to be a pleasant one then you could refer them to friends, family or anyone really. This can be done through their relatively attractive referral program. This calculator is similar to some of the other online mining calculators and will require a number of inputs to determine your expected Return on Invesment.
In addition to the “Dashboard” page, users may also view balances on the “Wallet” page. More rudimentary 10-day charts, are also provided on the “Dashboard” page under the “Markets” section. For the more seasoned crypto trader, there is also the “Advanced Trade” page.
No additional wallet setup is required, as custodial wallets are created automatically for your supported assets. The exchange also makes trading very accessible with fast account opening and multiple funding methods for your account. Interac e-transfer, bank wire, and bank draft are all accepted for making a deposit, as are credit and debit cards. You can make withdrawals through bank wire or electronic funds transfer. When it comes to trading safely on the exchange they also use 2-factor authentication to secure your account and offer cold wallet storage on each cryptocurrency available to trade. Finally, fiat deposits are held at top Canadian banks which the company is also registered with and supported by.
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- However, Interac e-Transfers under $2,000 incur a fee, and purchasing with credit or debit cards can cost up to 6%, so choosing the right funding method is key to saving money.
- Bitbuy presents an array of opportunities to trade crypto-to-crypto pairs.
- CoinSmart was started in 2018 by Justin Hartzman and Jeremy Koven to give Canadians a reliable exchange that was easy to use and good for beginners.
Bitbuy Crypto Exchange
As someone who has tested numerous platforms, I find this streamlined process ideal for users new to crypto trading while still catering to more seasoned traders with its advanced tools. Another standout feature is the ability to trade altcoin-to-altcoin without first converting to Bitcoin or Ethereum—something few exchanges offer. CoinSmart also provides 24/7 customer support and a feature called SmartPay, allowing users to invoice in crypto and instantly convert it to fiat or hold it in their account.
Is CoinSmart Safe And Legit?
- With this feature, you can easily accept cryptocurrency as payment for your small business.
- When making the wire transfer, ensure that you include the reference number in the memo for the wire.
- However, the company is planning to launch a US-based exchange in the near future.
I explored the Advanced Trading tool but did not make any transactions. You are able to make edits to the graph, like adding text, shapes, and measurements. I thought this was a nice tool that advanced traders would like; they could make full use of it. You enter the amount you want to deposit and click the Confirm Deposit Amount button. You will also have the option to print off the wire instructions.
We found markers on this website promising an easy way to make a profit. Our experience is that investment opportunities with high returns are also likely to have a very high-risk portfolio. There does not exist a “guaranteed income” or “secure profit”. Please invest time to research this company further before investing your money.
While I understand the need for compliance, it was frustrating to repeat this process despite already completing the simpler verification on the coinsmart review desktop platform. That said, the app still has limited functionality compared to the desktop platform. As someone who values flexibility and advanced tools, I’d recommend sticking to the desktop version, which offers far more features for trading and portfolio management. When making a trade, deposit or withdrawal you must confirm the transaction in your Google Authenticator app. CoinSmart is marketed as being “designed for beginners and built for experts,” offering something for everyone. You can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, Stellar Lumens, USDC, Dogecoin, SHIB, Cardano, Polkadot, Solana, and more.
Bitbuy FAQs
Bitbuy is also expanding its market and adding new coins as it goes. There are no deposit fees and processing time is the same day as received. To get ADA or Cardano on Coinsmart, follow the process already outlined in this article about how you can create an account with the exchange. Once your verification is complete, click on the ‘Buy/sell/trade’ button on the homepage and select the currency you want to buy ADA against. In line with the Anti-Money Laundering Policy that guides all regulated financial institutions, Coinsmart employs KYC regulations to prevent fraudulent people from accessing its services. It does this in collaboration with Sumsub and databases shared by data collection agencies.
The availability of local deposit options makes onboarding quick and straightforward, and is a significant advantage over platforms that support only crypto-to-crypto transactions. While CoinSmart’s app clearly needs improvement, its desktop platform stands out as a beginner-friendly option. Navigating the platform, depositing funds, and purchasing cryptocurrency are straightforward and hassle-free. You can deposit Canadian dollars conveniently through Interac e-Transfer, wire transfer, or bank draft. Additionally, Euros can be deposited using SEPA, wire transfer, or bank draft, while USD deposits are available via wire transfer.
CoinSmart has reasonable fees for fiat deposits and withdrawals, along with fairly standard crypto withdrawal fees. Their fees are somewhat in line with industry standards but are not a selling point of using the exchange. CoinSmart is a cryptocurrency exchange based in Toronto that caters to crypto users around the world. Founded in 2018 by Justin Hartzman and Jeremy Koven when they found it difficult to fund and get verified on other exchanges. They wanted to provide a reliable exchange that was both beginner friendly and easily accessible to Canadians. Specifically, most user CoinSmart reviews would likely agree that the fees worth emphasizing the most are those of transactions.
And as a new Wealthsimple Crypto user, you’ll get a $50 welcome bonus after you deposit at least $150. Learn more about the promotion in this Wealthsimple Crypto Referral Code Review. On the other hand, Newton doesn’t have a minimum investment requirement but CoinSmart requires a minimum deposit of $100. With the use of cold wallet storage and its partnership with Bitgo and Fireblocks, CoinSmart ensures that your information and assets are highly secured. That said, you can trade the above coins for a maximum of 7 digits (in Canadian dollars). If you want to trade more than C$25,000, CoinSmart has a tailored solution known as CoinSmart Premium.
