The first difference between the two platforms is the number of cryptocurrencies supported by each platform. Also, both exchanges are registered by FINTRAC as a Money Services Business. This means that they both must adhere to anti-money laundering regulations. https://forex-review.net/ Coinberry is also one of a handful of crypto platforms that are registered as Restricted Dealers or Marketplace with the Ontario Securities Commission. The Coinberry platform aims to make trading easy for everyone, regardless of their level of experience.
Simply send an Interac e-Transfer or a bank transfer and you can buy crypto in minutes. I am over 70 years old and this was my first time on a cryptocurrency platform. I was nervous and frustrated with my inability to log into my account and was ready to give up. I reached out to customer support and it turned out be an easy fix. What I consider exceptional about the support is how patient and knowledgeable they were.
- Coinberry recently became the first Canadian exchange to be join the list of exchanges on Ledger, a prominent hardware wallet company.
- It is highly encouraging to see that the Coinberry developers are “on the ball” and are quickly responding to these queries.
- Next is to add funds to your new Coinberry account using e-transfers or wire transfers.
- Attempts to contact customer service have gone unanswered and the only contact point is email.
Coinberry is a Canadian cryptocurrency exchange that simplifies the process of buying and selling cryptocurrencies for Canadian users. It positions itself as a secure and regulatory-compliant alternative for institutional investors. The exchange was developed in 2017 by cofounders Andrei Poliakov and Evan Kuhn to reduce the learning curve for new cryptocurrency investors.
Welcome to Canada’s best crypto exchange.
Withdrawals depend on the network and to withdraw bitcoin to a private wallet takes only a few minutes but can take up to 10 minutes. Once you’ve gone through these steps, you will need to answer eight questions related to your finances, employment and investment intentions. Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things. While there were a few things that we thought warranted improvement, most are relatively easy to address.
Bitbuy stands out as the best Coinberry substitute, especially since existing Coinberry users have been automatically transferred to this platform. Bitbuy offers a secure and convenient trading experience with an emphasis on regulatory compliance, just like Coinberry. Now my account is restricted and I can no longer access or see any of my assets. Attempts to contact customer service have gone unanswered and the only contact point is email. Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he’s passionate about personal finance, investing and helping people take control of their financial life.
One of the ways they do this is by keeping company funds and customer funds in completely different accounts. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. It would be even better if you allowed this, Stellar, Doge, etc. I will continue to use the site to buy crypto but hope you will change and allow transfer to Ledger on more brands of crypto. Following a supposed scheduled platform update, all access to my assets has been lost. They sent an email to reset password but once the password has been changed, I still can’t access my account.
My affiliate wrote the last review in haste.I am completely happy with my experience with coinberry. I got money within a 2 1/2 week period and was handled as well as anyone could have expected. It’ll take you just minutes to sign up and buy bitcoin and other cryptocurrencies, starting with as little as $50 CAD. See why we’ve already had 220K+ Canadians sign up and trust us, surpassing $1 billion in crypto trading. Kraken is fully regulated in Canada and offers 200+ cryptos, professional trading, and high liquidity.
How to Buy Ethereum in Canada in 2024
Additionally, both exchanges offer a wide range of payment methods including Interac Interac e-transfer and wire transfers. Coinberry and NDAX are both focused on providing safe and secure cryptocurrency trading platforms to Canadians. When it comes to security, both platforms have several layers of protection in place including two-factor authentication, cold storage wallets and offline backups of user funds. This means that users can set up an automatic purchase of a certain amount of cryptocurrency every week or month and have it automatically deposited into their account. This feature is available for free with an account on Coinberry. Let’s find out what services are offered by Coinberry, to make it such a popular crypto exchange in Canada.
Coinberry rated as a #6 in the list of the best crypto exchanges for Canadians
Coinberry is fully compliant with Anti-Money-Laundering and Know-Your Customer requirements set by FINTRAC. This means that account verification is required in order for users to begin depositing funds. Of course, it is important to point out that there may be fees that your own financial institution will charge on the transaction.
What Does Coinberry Offer?
The first, and likely most convenient of these is through their dedicated live chat service hosted on the website. 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. There is a very high degree of risk involved in trading securities.
In a nutshell, we are a crypto guide with the right ambitions and values. Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers. Some of our platform recommendations might be our partners and we may earn money through our links on our website but this does not change our opinions as all our recommendations are our own. Free cryptocurrency deposits with CAD are a blessing for all Canadian investors who are looking for a cheap cryptocurrency exchange to use.
Is it safe to use Coinberry?
We have signed up to numerous Canadian crypto exchanges and Coinberry asks the most questions related to employment, finances and investing. With Coinberry, you can set up autotrading where your desired order will execute automatically on the days and times you specify. This is helpful if you have a dollar cost average (DCA) strategy where you buy crypto at regular intervals e.g. weekly. WonderFi and Bitbuy, its parent company, took over all Coinberry client accounts in 2023. This means Coinberry is now part of Bitbuy and isn’t taking new sign-ups.
Coinberry is one of the few Canadian crypto platforms that are registered with OSC and FINTRAC, insured and PIPEDA compliant. In this Coinberry review, you’ll learn more about the features of this exchange including its pros and cons to decide if it’s suitable for your crypto needs. “I’ve had a positive experience with Coinberry. They have been responsive to inquiries and have made it easy to work with cryptocurrency.” 1 The use of “featured”, “popular”, “best” and “top” on Finty do not constitute a product rating or recommendation and are subject to our general disclaimer. Calculations in comparison tables will vary based on personal data input.
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. While you can always check the spread before confirming your trade, I would prefer to pay a fixed commission fee upfront because it’s more transparent and predictable. Sign-up – When you select the “sign-up” button on the Coinberry homepage, https://forex-review.net/coinberry-review/ you’ll be asked to enter your email and a password. Coinberry will send you an email to confirm your new account. Coinberry uses 2-Factor Authentication (2FA) for added security, so you’ll need to set that up as well, using SMS and your mobile phone. The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote.
I have been locked out of my account before and was unable to access my crypto. We appreciate your feedback Pablo and thank you for taking the time to give us the opportunity to make this better. We’re working hard to improve our platform, and have a number of updates on the roadmap to address things like this. If you’d like some support, please email us at and a member of our customer support team would be happy to assist you. While Coinberry and Bitbuy are safe platforms, Canada has dozens of choices.
Unfortunately for those users who have LTC on hand, Coinberry has not built this into their funding functionality yet. Something that is worth pointing out as well is that the “0% withdrawal” fees applies to the fiat withdrawals only. You will still have to pay an arbitrary miners fee on the withdrawal of crypto.