Users are able to buy and sell cryptocurrencies using Canadian dollars on Coinberry, which makes it one of the most popular cryptocurrency exchanges in Canada. Coinberry is able to accept both credit cards and debit cards issued by Visa. On the other hand, coinberry review rather of putting money into your account, you use your card to purchase cryptocurrency right away. Because users are only able to purchase and sell assets using Canadian dollars on the platform, it functions more similarly to a brokerage than it does an exchange. The reason for this is because users are unable to exchange crypto assets with anybody else outside Coinberry. Although Coinberry was developed in Canada and is considered to be one of the most user-friendly and secure cryptocurrency exchanges available, it operates more similarly to a Bitcoin shop.
- The cryptocurrency market is quickly expanding, and so Coinberry may have to figure out ways to differentiate itself from the many exchanges that are dominating the market today.
- In 2023, Coinberry was acquired by Bitbuy, making the two platforms essentially the same.
- Some people have written reviews of Coinberry stating that their accounts have been blocked.
- The Coinberry platform is well-suited for beginners, thanks to its simple and modern layout that provides a pleasant trading experience.
- They are also considered safe because they are OSC regulated, registered with FINTRAC, and owned by a publicly traded company.
Deposit Methods:
A summary of Canada’s major cryptocurrency exchanges and brokers. Over the last 3 years, we put every Canadian platform to the test across 60+ features each. Visit our free comparison tool here or see this year’s Best Canadian Exchanges. With that being said, Coinberry is still a centralized crypto exchange and does not replace the need for a hardware wallet. The main drawback when it comes to security is the inability to withdraw most cryptocurrencies. You can only withdraw 5 coins (BTC, ETH, LTC, XRP, USDC).
Credit Cards
For example, they are slightly more than the 0.4% quick buy fees at Coinsquare but are slightly less than the trading fees at BitBuy. For one, Cryptocurrency deposits made to Coinberry are routed to hierarchical wallets. Speaking of stable banking, Coinberry has CDIC insured segregated banking. This means that Coinberry works with Canadian Schedule I banks that help them achieve compliance with Canada’s laws.
Canadian Dollar Deposits and Withdrawals
We all know the frustration of having urgent queries that require timely assistance. That’s why Coinberry stands out with their customer support options. When it comes to safeguarding your crypto assets, you want nothing short of top-notch protection. That’s where Coinberry comes in, dedicated to maintaining an incredibly secure platform for its users.
Trust
You need to confirm your identity with a secret code sent to your phone every time you log in on the platform. You will need to provide your personal details as part of the registration process. This includes your name, date of birth, email and residential address. The sign-up process on the Coinberry platform is very straightforward.
You can add funds to your account using wire transfers and e-transfers. Hi Heather, we understand that this is a very hard situation and we appreciate your feedback as we always look to provide better service. It does happen that our Fraud team attempts to assist, but are at times limited due to the nature of crypto transactions being irreversible.
Great exchange
In March of 2018, the firm started making its apps accessible for both the Android and iOS operating systems.
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. A group of bitcoin and blockchain industry professionals got the business off the ground in July 2017 by launching it as an ATM company for bitcoin transactions. Evan Kuhn and Andrei Poliakov, who were also two of the company’s original founders, now serve as the company’s leaders. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews.
Unfortunately for those users who have LTC on hand, Coinberry has not built this into their funding functionality yet. Of course, it is important to point out that there may be fees that your own financial institution will charge on the transaction. This is especially true if you choose to use your credit card to fund your account.
Bitcoin Holdings Among Canadian Public Companies Rise, Reflecting Global Trend
First, go to Coinberry’s website or download the app and create an account using this link to earn a welcome bonus of $30. Coinberry has been around for a while and it has made some good strides toward becoming one of Canada’s most popular exchanges. Toju Ometoruwa is a Northeastern University alumni who is the co-founder of Pazima, a start-up that provides secure lending options for low-income workers. His passion is to empower communities across the African diaspora through the blockchain. Essentially, the trader is hoping the price of the asset falls.
- Firstly, Coinberry is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Service Business (MSB).
- We appreciate your feedback Pablo and thank you for taking the time to give us the opportunity to make this better.
- If the instant verification process doesn’t go as smoothly as expected, don’t worry!
- A summary of Canada’s major cryptocurrency exchanges and brokers.
- Once you have confirmed that you understand the above, they will give you the one-time address.
- 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.
Although it offers mainly Bitcoin , Ethereum, XRP and 3 other crypto, I really enjoy buying from there because of the lower rate and the fast processes. I have had no negative experiences using Coinberry thus far. Adding funds to my account through etransfer has been fast and worked every-time. I would like to see some more coins added in the near future though. Deposit money is easy but the time to withdrawing your Bitcoin can take over a day!
The reply above, does show our response addressing the case you had opened and Coinberry’s role. This does not mean we aren’t looking to help.To continue helping with this, we would like to urge you to reach out to your local authorities. When your customers pay you in cryptocurrency, Coinberry Pay seamlessly converts those payments into Canadian dollars (CAD), ready to be deposited into your Canadian bank account.