These systems must be in place in order for Coinberry to continue to operate legally. These systems are required to be operational at all times. Coinberry provides customers with financial services that are kept separate and are guaranteed by the CDIC. Their spread as well as any fees that may be levied, by the payment processors are shown on the website before the purchase is confirmed. The Coinberry platform allows users to trade cryptocurrencies. Similar to other exchanges, Coinberry uses its own algorithm to get cryptocurrency values from exchanges located all over the globe.
- If you are after a crypto exchange with more coins, you can try out Binance with over 600+ coins, or KuCoin, with over 700+ coins.
- It is the safest and most secure FINTRAC-registered crypto exchange, so users can buy and sell with peace of mind.
- Coinberry is able to accept both credit cards and debit cards issued by Visa.
- This is the instantaneous purchase of crypto directly from Coinberry.
Here to give a big shout out to Eren whom handle my e-transfer bank deposit to Coinberry, absolutely appreciate the way Eren support us the users. They’ve teamed up with Ledger Vault to safeguard assets with top-tier security measures, ensuring peace of mind with cold storage solutions. NDAX’s track record is solid, with no security breaches since its inception, maintaining a safe trading environment.
Credit or Debit Card
Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. It is FREE to deposit cryptocurrency and CAD into Coinberry. We signed up for every crypto exchange and brokerage so you don’t have to. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017. Kraken Pro is fully regulated in Canada and offers 250+ cryptos, professional trading, and high liquidity.
Written by the company
One of the ways they do this is by keeping company funds and customer funds in completely different accounts. Yes, Coinberry is a legitimate cryptocurrency exchange founded in Toronto in 2017. It is registered with FINTRAC and complies with all strict KYC/AML and reporting obligations.
I am still waiting for crypto…
All write-ups and articles do not constitute financial and legal advice in any coinberry review way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. NDAX also has low trading fees, staking, and a wide range of cryptocurrencies. We recommend Bitbuy or NDAX as alternatives to Coinberry. Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual. To buy crypto on Coinberry, start by funding your account.
Wonderful platform to transact
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. Coinberry, the Canadian cryptocurrency exchange established in 2017, has undoubtedly made a name for itself in the world of digital currency. Co-founders Andrei Poliakov and Evan Kuhn set out with a mission to simplify cryptocurrency investing for Canadians, and they’ve done just that.
It was a problematic experience
- We deposited $120 into our Coinberry account, and since deposits are free, the full amount was available in our account.
- It has obtained regulatory approvals from FINTRAC and the Ontario Securities Commission, demonstrating its commitment to compliance and security.
- However, scammers sometimes buy existing websites and start doing their evil thing, so please make sure you check for other scammy attributes as well.
- While deposits and fiat withdrawals are free, Coinberry’s trading fees are relatively high, reaching up to 2.5%.
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.
Transfer from Your Bank Account
As a crypto investor, you need to know all the fees involved when you use a cryptocurrency exchange. This includes major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), which are the most popular digital assets on the market today. 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.
Coinberry Mobile and Desktop app
The platform uses military-grade encryption to secure user data and stores up to 97% of its coins in cold storage, one of the highest percentages in the industry. These features make Coinberry a reliable choice for Canadians. We used this to buy Bitcoin, and Coinberry provided a preview of the order before submission. The total fees, including the spread, came to $3.00, which equals a 2.5% fee—relatively high.
Once a leading name among Canadian crypto asset trading platforms, Coinberry was beloved for its intuitive interface, making it the preferred choice for new crypto converts. It supported popular the most popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, and was the first regulated crypto-only platform in Canada. I even lost money while they are trying to process my transaction which never took place.
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. Bitcoin hacks and data breaches are one of the biggest threats that face nearly all exchanges. 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. 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.