They’ve been around since 2017 and feature 0% funding fees, a claim, not all crypto exchanges can make. In this Coinberry review, I’ll fill you in on all of their features, and let you know how they compare to the top cryptocurrency trading platforms. Coinberry, a money service business is registered with FINTRAC and focused on blockchain and digital currency solutions.

Withdrawal times can vary depending on whether Coinberry has the required funds stored in their “hot wallet”. In order to get the address to which to send the funds you will need generate an address. You can do this in your account section under the “Fund Account” section. Here you will have to select “crypto” and then either BTC or ETH.

Business

Coinberry not only protects itself against external dangers, but they are also mindful of the hazards that come from inside the company. As a result, they have insurance to cover financial losses that are brought on by dishonest actions and unethical conduct on the part of Coinberry personnel. Coinberry is a great exchange to use for first time cryptocurrency investors who reside in Canada. It might be the best cryptocurrency exchange in Canada for beginners, although fans of Newton would have something to say about that. Shakepay is another good alternative, but you can only buy and sell bitcoin and ethereum on their platform. The main downside to Coinberry is that their spread is steep, at up to 2.5% per trade.

Additionally, Coinberry has a unique referral program that gives you $30 when you sign up using a referral link or refer someone to create an account with Coinberry. Its website design is very clean and easy to navigate through, making it easy to find exactly what you are looking for. Coinberry does not list information about their liquidity but since they are a broker they have third-party liquidity providers. Should you make a large trade, Coinberry can source liquidity from one of their partners. This is how the Canadian government was able to freeze accounts of the protestors during the “Freedom Convoy” earlier this year.

Here, they will ask you for your offline BTC or ETH address where to send the transaction. You will also have to insert your password in order to properly authenticate the transaction. Something that we were quite surprised by is the fact that Coinberry uses unique one time addresses for those users who fund with crypto. This means that Coinberry is helping you protect your transaction history by not re-using addresses. 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.

What Is Coinberry Pay?

In this light, it can be said that Coinberry’s fees are reasonable. Coinberry is a Canadian cryptocurrency exchange that takes security seriously. It employs multiple security measures such as two-factor authentication (2FA) which requires email confirmation whenever there is a login attempt from a new IP address or device. 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.

NDAX: Best for Customer Support

Customer feedback is mixed—while some users praise the support team’s responsiveness, others report unresolved issues. In our experience, we submitted a support ticket and received a helpful response within minutes, demonstrating the potential for reliable assistance. We used this to buy Bitcoin, and Coinberry provided a preview of the order before submission.

• Coinberry, on the other hand, may not be suited for more experienced traders due to its limited selection of only 18 cryptocurrencies and lack of advanced trading tools.
• Headquartered in Toronto, Canada, Coinberry shares space with notable crypto projects such as Ethereum, Polymath, and Aion.
• WonderFi and Bitbuy, its parent company, took over all Coinberry client accounts in 2023.
• To do this, I have to deposit $5000 for every point needed to reach 100 which means I need to deposit another $200,000.

The Coinberry platform has been reliable and efficient in my cryptocurrency trading. When you withdraw crypto coins, the Coinberry spread, as well as any fees charged by their liquidity sources will appear on your Preview Order before confirmation. This information is always disclosed and Coinberry provides the present cryptocurrency rate using a margin or “spread” of 0% – 2.5% to the rates offered by their liquidity sources.

Coinberry Mobile App

Something else that you may have to consider with Coinberry is that they are the “Market Maker” for the coins. This means that they are the counter party to your trade and will hence make the price for you. This means that the buy / sell price may be higher / lower as it is on other exchange. In most cases though, the front line of security will start with the user.

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 servers will sync up with Google authenticator which will generate the unique login codes.

Yet, because this is a one time address, you have to be sure to never send to the same address twice. Once you have confirmed that you understand the above, they will give you the one-time address. Once you have hit “submit” on the sign up you will have to confirm your email. Once confirmed, you must add a secure phone number to enable 2-factor authentication and protect your account. You can also add a referral code if you were referred to the site by a friend.

You can reach Coinberry by sending a message through the website or using the email address email protected. There’s not much difference between the desktop version of the platform and the Coinberry app. Access over 45 popular coins and altcoins and staking coinberry review to earn interest. You can also share your own referral link or referral code (3b28a1568bc) with others on social media, and you both get $30 after they complete verification and trade $50 or more. Coinberry has a referral that pays you $30 when you sign up here and trade at least $50.

Top offers this month

• Perhaps this is something that the Coinberry team is planning on introducing at a later stage and we will keep our eyes on their news wires.
• This means that users of the platform need not worry that their transactions on the exchange have been to the tax agency.
• Canadians who are 18 or older can open a Coinberry account and start trading popular crypto assets.
• Kraken Pro is fully regulated in Canada and offers 250+ cryptos, professional trading, and high liquidity.
• When in doubt, you should consult a qualified financial advisor before making any investment decisions.

In addition to Coinberry, you can buy and sell crypto using platforms like Coinsmart, Netcoins, and Wealthsimple Crypto. It supports popular coins like Bitcoin, Ethereum, Stellar, Ripple, Cardano, and several others. My affiliate wrote the last review in haste.I am completely happy with my experience with coinberry.

Wealthsimple keeps track of your trades and automatically imports the information into Wealthsimple Tax to make reporting and filing taxes a breeze. If you’re interested in earning passive income from your crypto holding, you can earn up to 11% APY by staking DOT, SOL, ETH, or ADA. This can be a godsend, considering the constant erratic shifts in the crypto markets. Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course.

All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan. Loans Canada is not a mortgage broker and does not arrange mortgage loans or any other type of financial service. Because of the financial risks involved when buying, selling and trading crypto-coins, you always want to go with a reputable platform that’s been operating for at least a few years. The spreads and fees that Coinberry charges can fluctuate according to the current prices on the digital currency market.