Coinberry Review 2023: Features, Fees & Safety
Coinberry has a very quick process when you open your account. Over 90% of their new members are automatically verified, allowing them to begin buying crypto within just minutes. This is perfect for newcomers to crypto who want to jump in while crypto is on an upward trend. You don’t want to wait 2 days for verification, while the price skyrockets. Alternatively, you can fund your account through an external crypto wallet, but this only works for Ether and Bitcoin. You can either do a QR scan of your Coinberry wallet’s address or click on the Copy Address button and then paste it into the recipient field on your other wallet to send the necessary funds.
Although the number of assets is limited compared to some exchanges, they still offer the most popular ones in ETH and BTC. This is what most beginners are interested in anyway, but the addition of altcoins makes Coinberry a viable option for beginners. They also allow users to expand on their investments and learn more about the projects you’ll be buying into, so you won’t just be blindly picking projects and praying.
This is helpful if you have a dollar cost average strategy where you buy crypto at regular intervals e.g. weekly. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. There are ZERO fees charged for withdrawing CAD by e-Transfer or Wire transfer. Users can easily access a Coinberry Pay link from within their account that they can share to anyone they want.
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If you are after a crypto exchange with more coins, you can try out Binance with over 300+ coins, or KuCoin, with over 250+ coins. Unfortunately, being a Canadian-focused marketplace, you can only make fiat deposits, withdrawals and conversions in Canadian dollars, and other currencies are not currently supported. This can be a godsend, considering the constant erratic shifts in the crypto markets. Right now you can take advantage of Coinberry‘s offer of $30 in crypto when you open a new account. I just got the app and was little confused and emailed support. Expecting to hear back in a few days it was literally not even half hour reply.
- Sometimes scammers will ask you to send them crypto first in exchange for more valuable crypto in return.
- Coinberry has been around since 2017 and has a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency.
- This is because of their regulatory licenses they have to complete a number of KYC checks on their trading accounts.
- I don’t know if I will ever get my money out, sent, or transfered.
- Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more.
We’re glad to hear that the quality of our product matched your expectations. Please do not hesitate to contact us at if you have concerns. We are thrilled that you loved your experience; our staff will definitely be happy to read what you wrote. We put customer experience and satisfaction as our priority, and your review reaffirms the hard work we put in every day! Unacceptable for a withdrawl to take more than a few minutes in a market where time matters. I want to buy BTC, transfer out and get into a stable coin asap.
Coinberry Customer support
The spread can also be affected by the liquidity of an asset. The higher the liquidity and volume of a cryptocurrency, the smaller the spread. Once you’ve gone through these steps, you will need to answer eight questions related to your finances, employment and investment intentions. Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things. With Coinberry, you can set up autotrading where your desired order will execute automatically on the days and times you specify.
The app is available on both iOS and Android devices, and just like the desktop site, it is user-friendly and intuitive. Coinberry has a lot of good points going for it, but there are a few downsides of this crypto exchange. If you want to read about these disadvantages in a bit more detail, you can click on the respective jump links below. You can also buy Ether and many coins related to the Ethereum network, and the platform even offers a chance to get on the stablecoin bandwagon by purchasing some USD Coin . So, are all the rave Coinberry reviews by happy Canadians a bit overblown, or is this platform truly that good? How and where the offers appear on the site can vary according to the partnership terms.
This may impact which products or services we write about and where and how they appear on the site. It does not affect the objectivity of our evaluations or reviews. I even lost money while they are trying to process my transaction which never took place. I would let all my family and friends know that this is one of the worst Canadian Crypto platform to use. Stay away if you don’t want to loose any capital investment. Following a supposed scheduled platform update, all access to my assets has been lost.
It has over 300+ cryptocurrencies, and many more trading markets, including derivatives. Coinberry has only 18 different cryptocurrencies currently on offer. Although they have grown their selection, it is still a small range for those that are interested in diversifying their investments. If you looking for a cryptocurrency exchange with a lot more coins to choose from, you can check out Binancewith over 300+ coins, orKuCoin, with over 250+ coins.
Coinberry Supported Application
Coinbase also offers a much more extensive cryptocurrency selection, accepts more fiat currencies, and supports more payment methods. Where it comes up short is requiring Canadian clients to pay $1 for every deposit or withdrawal in CAD. You can fund your crypto purchases by making a Coinberry e-transfer through Interac or wire transfer, which will determine the minimum and maximum deposit and withdrawal limits. As we’ve already mentioned, the only accepted currency is Canadian dollars. Along with Coinsquare and Bitbuy, Coinberry is probably Canada’s most famous crypto exchange and trading platform.
This implies that users must first verify their accounts before they can begin depositing cash. One of the simplest methods to fill the Coinberry account is via E-Transfer . To start with, users will have to provide identity verification. Coinberry, like Expedia, employs its own algorithm to secure cryptocurrency rates from exchanges around the world. 2.5% is a hefty price to pay, much higher than the commission fee charged by other platforms. Well, if you are looking for an entry-level exchange with low fees, strong security and a reputable management team then it could be for you.
Coinberry is the first and foremost cryptocurrency platform that has collaborated with local Canadian governments as of 2019. Users can acquire cryptocurrencies using a variety of financing ways, such as wire transfer, e-transfer, and debit and credit card choices. Coinberry is a fantastic choice for making initial crypto buys in Canada for individuals who want to utilize Canadian dollars without worrying about conversion rates. To use a credit card to fund a Coinberry account, users must authenticate their account by linking it with a Canadian bank account. Similarly, unlike the margin trading platforms this is short selling with no leverage.
The total BTC selling fee was 1.71% and the BTC spread was last place at 4.19% . To compare, NDAXhad a total BTC purchase fee 0.49% ,Coinbasewas 4.54% , andCrypto.com was 1.68% . Coinberry is shutting down and no longer accepting new sign ups. They are directing new customers to Bitbuy, another cryptocurrency coinberry review platform owned by same parent company, WonderFi. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. Once an amount of CAD has been entered, the corresponding value of the cryptocurrency is displayed.
Supported Coins and Countries by Coinberry
AutoPilot is a feature on Coinberry that allows you to automatically make regular purchases of crypto. This helps you to reduce the effect of price volatility by averaging out the cost of buying crypto. You can select the amount you want to purchase, and the frequency, to suit your personal needs. 3)Coinberry has a mobile app available for iOS and Android so you can trade whenever and wherever you are. The app is very user-friendly and intuitive, so it is great for beginners.
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. In this case, they might delay the process by a day or two.
Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Trading involves risk which may result in the loss of capital. Coinberry is typically well-liked by the general population. As previously stated, the platform collaborates with the city of Richmond Hill and Innisfil. It was a part of the first Bitcoin property tax payment in Canada.
Paying for a spread is nothing compared to some of the percentage-based fees you would be paying on other platforms, but the lack of assets sort of balances that out. I’ve been with Coinberry for about 2 years and have had absolutely no problems with cash deposits and withdrawals, buying and selling crypto, getting verified or updating my personal info. Kevin started in the cryptocurrency space in 2016 and began https://forex-review.net/ investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. The benefit of using Coinberry is the easy to navigate website, 0% CAD deposit and withdrawal costs and a $200 million insurance policy.
The company is registered with the Financial Transactions and Reports Analysis Centre of Canada and has a partnership with Gemini Trust Company LLC , which provides crypto custodial services. This New York State trust company offers an unprecedented $200 million in insurance for the funds in its cold storage. Coinberry is a Canadian cryptocurrency trading platform based in Toronto.