That means a price can change between the time you get a quote and when the order actually goes through. However, it’s important to note that Coinberry’s trading fees, which can reach up to 2.5% per transaction, are comparatively higher than similar Canadian exchanges. This can be a drawback for intermediate and experienced investors who are looking for lower trading costs. When it comes to cryptocurrency trading, customer support is undeniably crucial.

You have the option of manually inputting your personal information or uploading a picture ID card issued by the government, such as a driver’s license, in order to validate your account. When you purchase Bitcoin or Ethereum using Canadian Dollars (the transaction must be priced at $50 or more all at once), you will be eligible for a referral bonus credit. Coinberry is one of the few online crypto-coin platforms that provides “Live Support for all your Bitcoin queries,” which is a feature that is becoming more rare. It may take as little as one minute to sign up for a Coinberry account and make a purchase of Bitcoins using that account.

Coinberry Review 2024: Complete Exchange Overview

Binance is currently undergoing money laundering investigations in the United States. The future of the business trajectory may seem uncertain for risk-averse investors. Bitbuy’s trustworthiness has been documented across major Canadian news outlets. The company was included in The Globe and Mail’s annual Canada’s Top Growing Companies list, coming in 12th position for 2021.

Apps

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.

Coinberry review

Once your account is verified, you’ll find easy-to-use buttons for buying and selling Bitcoin, Ethereum, or Litecoin, allowing for instant crypto purchases directly from Coinberry. Coinberry offers an extremely easy-to-use cryptocurrency exchange specifically tailored towards a Canadian user base, with CAD being the main currency. Verification is quick and its well-designed app makes trading it a pleasure to trade what is a decent range of coins. Coinberry Pay allows customers to purchase products and services with Bitcoin (and other cryptocurrencies). This platform is created for merchants, charities, municipalities and Individuals looking to accept Bitcoin payments or donations.

• 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).
• In this comprehensive review, we deeply analyze the Coinberry exchange, going over their fee structure security features, deposits and withdrawal methods and customer support.
• So, get ready to embrace the future of finance with the Coinberry mobile app.
• Just provide the necessary documents, and Coinberry will personally verify them within one to three business days.

At Coinberry, you will find that a total of 8 cryptocurrencies are supported for trading. These are Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, Ripple, and Stellar. For example, Coinberry has very limited options for coin coverage.

Coinberry vs Bitbuy

• As someone who has tested over 50 crypto exchanges since 2016, I created a Coinberry account to determine if it’s worth using.
• These strict guidelines create reassuring stability for traders, allowing them to buy and sell crypto safely on trusted platforms.
• But know that the best way to keep your digital assets safe is by storing them in a cold wallet of your own.

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. Perhaps the cheapest and fastest way to fund your account will be through the use of cryptocurrency. Coinberry is fully compliant with Anti-Money-Laundering and Know-Your Customer requirements set by FINTRAC.

The company provides user-friendly processes and tutorials aimed at crypto beginners who want to get started. Mogo is proud to help users buy and sell Bitcoin for the first time. The company specializes in various financial management products and services, such as credit score monitoring.

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. No more worrying about market volatility or holding onto crypto assets. Among the main selling points of Coinberry are the low fees they offer for crypto trading.

Kraken offers its crypto exchange features to global users across many countries. Canadians can enjoy many coinberry review of Kraken’s features with a few restrictions. Dozens of Kraken’s cryptocurrency offerings cannot be deposited or traded by investors in Canada.

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. Newton is another popular Canadian crypto exchange that offers similar services as Coinberry. Coinberry is a great crypto exchange but it’s not the only option out there. There are no fees for trading, depositing or withdrawing funds on the Coinberry platform.

Funding & Withdrawal Fees

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. With Coinberry Pay, you have the freedom to embrace the benefits of cryptocurrency without the hassle. It’s a customizable solution that integrates smoothly into your existing payment infrastructure, making it a perfect fit for businesses of all sizes. In addition to its user-friendly approach, Coinberry has made notable strides in building partnerships and expanding its reach. Joining forces with Ledger, a prominent hardware wallet company, marks a significant milestone for Coinberry as the first Canadian exchange to achieve this distinction. Go to withdrawals, and click on either your wallet or on EFT/e-Transfer directly.

Bitcoin is a lucrative and interesting opportunity for all crypto investors. Payments are reported to both credit bureaus which can help build credit. He has been writing for Loans Canada for five years, covering all things related to personal finance, and aims to pursue the craft of professional writing for many years to come.

Netcoins offers eight different cryptocurrencies on its trading platform. Like many of the best Canadian crypto exchanges, Netcoins is registered as a Money Services Business (MBS). This licensed company is also compliant with the FINTRAC standards. Bitcoin is a decentralized cryptocurrency that you can acquire online, rather than having to apply with a bank or other administrator. You can then sell and transfer your Bitcoins to other users or trade them for products, services and other currencies.