At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff. Overall, Coinberry is a good starting point for new investors to cut their teeth with trading cryptocurrencies.
- You can trade on Coinberry without paying any commission fee.
- We’re working hard to improve our platform, and have a number of updates on the roadmap to address things like this.
- Both exchanges offer a wide range of coins, including bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more.
All of this makes up the 0.5% trading fee they take – and that’s only a bit higher than some other exchanges who also charge withdrawal fees. Disappointed with the service at coinberry from delayed withdrawals to unresponsive customer support. It’s a stark contrast to the professionalism I’ve experienced with “EAšÿBĘ” where issues are resolved promptly. Next is to add funds to your new Coinberry account using e-transfers or wire transfers. Once you successfully add funds to your account, you will be able to buy or sell digital assets on the platform.
Does Coinberry have a demo account for paper trading?
Namely, Tether, BNB and Solana, which are in the top 20 cryptos by market cap. In total, 7 of the top 20 cryptos are available on Coinberry. Coinbase also offers a much more extensive cryptocurrency selection, accepts more fiat currencies, and supports more payment methods. Coinberry prides itself on having “no hidden fees,” and that’s, for the most part, true. The problem is that the company charges spreads or margins instead of classic fees, so your quoted price may end up changing by the time your order completes.
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Their social media accounts like Facebook, Twitter or Instagram can be another way to reach them if you wish. Coinberry also offers excellent customer service with real agents you’re able to talk to on the phone if you have any problems. It might not be many coins offered to users, but Coinberry is great to instantly change your fiat into crypto. And with their fee structure which we’ll discuss below, Coinberry makes an excellent choice compared to competitors.
While Coinberry offers popular cryptocurrencies, it is lacking in the features department as well. For these reasons, we think you should give Coinberry a miss and perhaps check out other Canadian exchanges such as Bitbuy or Binance instead. Both of them offer lower fees, great security, and simple trading platforms with a host of features.
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. Many crypto https://forex-review.net/ exchanges claim to have no trading fees, but that is never really the case. If they don’t charge a commission fee upfront, it means that they’re making money on the spread instead. Coinberry offers a simple buy and sell interface which makes investing in the crypto markets incredibly hassle-free.
Coinberry Review – Is it Legit? (January
The exchange does offer a referral rewards program where you can earn $20 for inviting friends to sign up, but only once they trade $50. Currently, there are only three cryptocurrencies on offer at Coinberry and these include Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH). Lastly, when it comes to your personal information, this is OpenPGP protocol encrypted. PGP (Pretty Good Privacy) is an encryption program that provides cryptographic privacy and authentication for data communication. The first and most important of these has to be mobile two-factor authentication. With this enabled, you will need to confirm the account login through your mobile device.
Coinberry.com Review and Fees Breakdown
The minimum deposit is $50, the minimum withdrawal limit is $100, and the maximum withdrawal limit is $50.000 for fiat withdrawals. Coinberry is a fully insured and FINTRAC regulated cryptocurrency exchange based in Canada with the main office located at 100 Designers Walk Lane, Toronto, ON, M5R 1K6. This trusted platform with outstanding security features is a go-to place for thousands of Canadians when it comes to cryptocurrency investing. Trading is possible with Coinberry through both their desktop trading platform and their mobile app for trading on the move. Both mediums offer a trading platform that is easy to navigate and user-friendly, particularly suitable to those who are new in the sector.
You’re also able to withdraw easily by supplying an address to withdraw your crypto. Currently, they have Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Stellar Lumens (XLM). To use Coinberry, you can deposit CAD and instantly start trading. Let’s take a look in this article to see how Coinberry stacks up with other major exchanges in the world and how it all affects you. We hope you liked this article, please if you did, don’t forget to share this useful article with your friends who are also interested in cryptocurrency.
We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products. Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Canada’s first regulated crypto-only trading platform, Coinberry, offers simple and straightforward crypto buying and selling.
Unfortunately, being a Canadian-focused marketplace, you can only make fiat deposits, withdrawals and conversions in Canadian dollars, and other currencies are not currently supported. CoinSmart’s trading fees are just 0.2% and they offer the ability to trade crypto to crypto pairs without having to sell to Bitcoin or Ethereum first. Coinberry’s iOS app has a 4.5-star rating with 5,000 reviews. Some people have complained about Coinberry taking too long to withdraw funds, having a slow verification process and being unable to login to the app. We bought bitcoin with our money and Coinberry gave us a preview of our order before we submitted it. The total fees including the spread was $3.00 or 2.5%, which is high.
This fee is added to the quoted crypto prices and is effectively calculated as a percentage of the total trade size. Also, Coinberry has a wallet service available on the site, which allows you to store your cryptocurrencies in cold storage. https://forex-review.net/coinberry-review/ This means that your coins are stored in an offline environment where they cannot be hacked or stolen. The exchange has been around for a while now, and they have built up a solid reputation as one of Canada’s best crypto exchanges.
I transferred funds from my bank to Coinberry where I purchased Bitcoin. When I received the Bitcoin back from the third party and exchanged it for Canadian dollars Coinberry is not wanting to give me my money. Be aware everybody, if given the chance Coinberry will attempt to steal your money. However, NDAX slightly edges it out with its support for more cryptocurrencies and lower fees to buy crypto.
This could be a driver’s license, passport, or other valid government ID. No, only people living in Canada are allowed to use the platform. In this section of our Coinberry review we highlight 6 special features that deserves extra attention. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. 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.