Just provide the necessary documents, and Coinberry will personally verify them within one to three business days. If the instant verification process doesn’t go as smoothly as expected, don’t worry! AutoPilot, the feature that puts you in control of your crypto purchases on Coinberry.
Credit or Debit Card
Also, both exchanges are registered by FINTRAC as a Money Services Business. This means that they both must adhere to anti-money laundering regulations. Also, Coinberry uses 2FA authentication to protect your account. You need to confirm your identity with a secret code sent to your phone every time you log in on the platform. Coinberry is also one of a handful of crypto platforms that are registered as Restricted Dealers or Marketplace with the Ontario Securities Commission.
Coinberry makes the process of financing your account simple and uncomplicated, regardless of where your money is kept or how you want to finance it in the future. When you are in some locations throughout the globe, it might be difficult to convert your “fiat” money into bitcoin. In relation to the ongoing financial revolution, Canada has a high degree of adaptability. Next in our Coinberry review we’ll go over some of the pros and cons of the user experience. Coinberry has a user-friendly Help Center that doubles as an extensive Frequently Asked Concerns section, which will answer the vast majority of questions that may arise while using the platform.
Buy Bitcoin in Minutes
Coinberry recently became the first Canadian exchange to be join the list of exchanges on Ledger, a prominent hardware wallet company. Over 250 total financial institutions use Interact, including all major banks in Canada. The partnership allows Coinberry to join 2,000 national merchants, like Indigo, Sony, Adidas, and Dell to make payments easier. Coinberry has a lot of good points going for it, but there are a few downsides of this crypto exchange.
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. A referred account must be verified and trade at least $50 before both you and the person you refer receive $20. 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. We aim to maintain accurate product information, but details may change at providers’ discretion. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before applying.
Founded in 2017 by Andrei Poliakov and Evan Kuhn, Coinberry makes it easy for Canadians to deposit fiat and trade fiat into crypto. Fund Your Account – If Coinberry has been able to verify you using their instant ID process, they will activate your account within minutes, and you can deposit funds and begin trading. I’ll explain how to transfer funds in and out of your Coinberry account below. If Coinberry cannot verify you instantly, you’ll need to upload some additional documentation, like a utility bill. I contacted the customer service and they very patiently helped me to locate where the funds had gone and made sure they were put into my account. They are not interested in customer service once they get your money tied up.
- If you select CAD and you do not have funds in your account already you must fund your account with E-transfer, Wire transfer or credit card.
- One of the standout features of Coinberry is the wide range of payment options it offers.
- Available on both Android and iOS, this app is designed to make your cryptocurrency experience seamless and convenient.
- They are not interested in customer service once they get your money tied up.
- The use of segregated bank accounts also helps reduce the time it takes to process withdrawals to just 1 day.
- Our goal is to not only meet but exceed your expectations as you navigate the world of digital assets.
Coinberry Trading fees
For example, Coinberry has very limited options for coin coverage. Now that major players like Coinbase have added several Altcoins to their roster, Coinberry should at least be trading all of the top 10 coins from coin market cap. Listing more cryptocurrencies are the easiest way for the exchange to increase trading volume and generate more coinberry review revenue. After your account has been verified and you’re ready to begin trading, the first thing you see is the buttons to buy and sell Bitcoin, Ethereum or Litecoin.
Depositing and Withdrawing from your Coinberry Account
Last but not least, once the e-Transfer has been set, the balance will be deposited into your Coinberry account. According to their website, they employ fraud monitoring across their platform to guard against financial fraud, account takeovers, etc. Coinberry is a licensed and regulated crypto platform and must comply with KYC laws. It has obtained regulatory approvals from FINTRAC and the Ontario Securities Commission, demonstrating its commitment to compliance and security.
Does Coinberry Offer Staking or Other Services?
Both exchanges offer a wide range of coins, including bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more. The first difference between the two platforms is the number of cryptocurrencies supported by each platform. This fee is added to the quoted crypto prices and is effectively calculated as a percentage of the total trade size. 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.
Hence, when we are analysing the safety of an exchange, one of the most important requirements that we look at is a robust cyber security protocol. For these reasons, while Coinberry is a solid option, we recommend exploring other Canadian exchanges like Bitbuy or Binance for a better overall experience. However, there are some people who have had trouble withdrawing assets. Coinberry allows you to choose between a market order (executed at the current market price) or a limit order (executed at a specific price you set). This flexibility helps you tailor your trades to your preferences. 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.
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By subscribing to all regulations and security protocols, Coinberry is a great option for anyone new to the space. I haven’t invested much money but it’s interesting watching it increase and decrease. Go to withdrawals, and click on either your wallet or on EFT/e-Transfer directly. Enter the desired amount of CAD that you would like to withdraw, click on preview, and confirm your withdrawal, after which a pop-up will appear before the transaction is finalized. These are some of Canada’s best known and most popular crypto exchanges.
- Andrei Poliakov co-founded Coinberry in 2017 with Evan Kuhn in order to meet the high demand for cryptocurrencies.
- There will also be a small mining fee depending on the crypto you trade as these network fees are not covered by the exchange.
- One day the fraud team decided to restrict my account, and I’ve been unable to withdraw my funds since.
- Also, it has a lot of security measures in place to protect its users from getting hacked or losing money.
Users also have the option to have all BTC payments or donations instantly converted to CAD and deposited into their bank accounts. They provide cold storage for all of your crypto assets so they are completely secure. Any cash funds are stored in segregated accounts at top-tier banks, and the platform engages high-level encryption technology to protect your transactions and data while you trade through them. Coinberry is a well-known Canadian cryptocurrency exchange platform.
Coinberry’s website has never been penetrated by hackers, and the company puts a lot of work into preventing future intrusions. Despite the fact that this is true, in the event that they are ever hacked, it will most certainly create issues for the user base. One breach, as is the case with the majority of the exchanges on which individuals keep their assets, is all that is required to destroy all of your investments. For this reason, it is always recommended utilizing a software or hardware wallet to keep your money safe.
Coinberry has two deposit methods, E-Transfer and Wire Transfer and the same for withdrawals. Coinberry offers a web app and mobile app on iOS and Google Play which is easy for anyone to use. Verification can help ensure real people are writing the reviews you read on Trustpilot. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.