CoinSmart Review: The Best Place to Buy, Sell and Accept Cryptocurrencies

Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. Yes, CoinSmart has delisted Ripple XRP, and you can no longer trade it on the platform. When a friend opens an account through your referral code or link, and they deposit at least $100, you both get $15 CAD.

Coinbase – Most Secure Cryptocurrency Exchange

Founded in 2018, CoinSmart is a Canadian cryptocurrency exchange based in Toronto. To begin, enter your full name and email address, create a reliable password, and, if available, apply a promotional code. The verification process includes activating through an emailed link, confirming your phone number, and uploading a government-issued ID and a selfie for identity confirmation. To speed up the verification process, we offer verification through SumSub, which allows you to verify in minutes. We need your full name, date of birth, postal address, and telephone number to complete this.

• This means that they will have had to disclose to the regulator numerous aspects of their business which would then have to be signed off.
• Beginners will find these options convenient and easy to use.
• The mobile app has several features that we love, including SmartTrade.
• No, multiple user CoinSmart reviews will tell you that CoinSmart is a centralized exchange platform.
• CoinSmart is fully compliant in Canada, making it one of the most reliable options for Canadian users.
• This area is also very user-friendly and similar to an interface you will find at most major exchanges.
• Simply choose the cryptocurrency you want to buy and the coin you want to sell, and instantly swap between coins in one-click.

How Long Do Deposits Take with Coinsmart?

• There is zero fee if you fund your account using SEPA, Bank wire, Bank Draft and Interac eTransfer.
• They break down these pieces into the “smart”, “Savvy” and “Genius” level based on how in-depth you want to go in a topic.
• So, for example, if you are trading ETH / LTC or any other crypto combination that does not involve Bitcoin, you will be charged 0.6%.
• Overall, CoinSmart is a very comprehensive exchange operation.
• Always remember, though, that you have sole responsibility regarding the crypto decisions you make.
• While that is great news for people residing in these regions, the not-so-ideal fact is that CoinSmart isn’t supported in the US.

In the middle you have the market order books and below that you have the most recent trades. Unfortunately, the interface is not “widgetised” which means that you cannot move the layout around. Withdrawals are just as easy except this time it will request the applicable address to send your coins to. Once you have placed that in the withdrawal form then they will request confirmation through both the 2FA (if enabled) and email. If you feel that you are due a fee refund as they have not met this guarantee, then you will need to email them within 3 business days of the claim arising. You can do this through their support email at email protected.

A Very Beginner-Friendly Exchange

Coinsmart charges a flat 0.2% fee for fiat-to-crypto trades. Once only available to Canadian residents, CoinSmart have now opened their virtual doors to users from across the globe, including the UK. You can fund your new account using Interac e-Transfer, electronic fund transfer, bank wire, cryptocurrency, and bank draft. What is obvious is that Canadians no longer lack access to a cryptocurrency platform that is versatile enough for both beginners and experienced traders.

CoinSmart Review – Is it Legit? (January

For all other types of cross crypto trades, Coinsmart will charge 0.6%. So, for example, if you are trading ETH / LTC or any other crypto combination that does not involve Bitcoin, you will be charged 0.6%. This makes logical sense as it will be the same fee that you will be charged if you converted your ETH to BTC and then your BTC to LTC for example. Moreover, recent history is littered with examples of exchanges that have been hacked and had customer’s coins / data stolen. When you are choosing an exchange to use you have to make sure that they have the right security protocols in place. WeSellYourSite was a website brokering service and Needls is a digital marketing agency.

It ensures accessibility for newcomers stepping into cryptocurrency and delivers the reliability and advanced functionalities experienced investors seek. CoinSmart also accommodates deposits and withdrawals in different fiat currencies, which is advantageous for those dealing with multiple financial portfolios across varied monetary units. For users looking to buy or sell cryptocurrencies, CoinSmart Trade on the Dashboard page offers users an easy way to buy and sell cryptocurrencies. Simply click the Buy or Sell icon under SmartTrade and select the crypto you want to buy or sell. Coinberry also has a simple and easy-to-use interface, which is ideal for newcomers to the game.

CoinSmart’s deposits are almost free, fiat withdrawals are just 1%, and they offer negligible crypto withdrawal fees. Although debit and credit cards deposit costs up to 6%, they are still cheap compared to other exchanges. CoinSmart charges 0.2% for single trades and 0.3% for double trades. In conclusion, a crypto exchange is an integral part of the crypto community, as crypto investors or traders choosing the right exchange matters. This article has covered important aspects of exchanges that are best suited for a broad spectrum of crypto investors and traders. We have also covered the essential features of these exchange networks, like top features, platform fees, security, user type, user-friendliness, coin variety, etc.

Overall, CoinSmart is a well-secured website to buy, sell and trade cryptocurrencies. CoinSmart aims to simplify the complex world of cryptocurrencies. Hence, the exchange is known for its easy access to Bitcoin for Canadians and Europeans in general. Simply use SmartPay to send an invoice coinsmart review to your customer and accept crypto payment. To avoid price volatility, you use the auto-sell wallet feature to automatically convert your crypto to local FIAT and get instant cash in your bank account.

A prominent cryptocurrency exchange platform for Canadians,  CoinSmart provides a secure and simple method to purchase, sell, and trade cryptocurrencies. One of the most well-known cryptocurrency exchanges in Canada, CoinSmart has minimal fees, strong security, and outstanding onboarding choices. One of the best things about the CoinSmart trading platform is that it is simple to sign up and easy to access. There are several contact options available on the exchange that allow users to reach the team 24/7. A consensus among CoinSmart reviews is that it’s a great choice, especially for those who are new to the world of cryptocurrency exchange.