CoinSmart Review 2023: Best Crypto Exchange? $50 Offer

CoinSmart has a very efficient and quick verification process. Once you have given all the information asked for the process can be done within a few minutes. Make a note of the reference number received and proceed with the transfer from your bank.

We then sold our bitcoin back to Canadian dollars for a total of $96.11, which was a loss of just $0.04. Then, we withdrew the amount back to our bank account via Interac. It’s necessary to submit an ID to help prevent fraud and money laundering.

What coins does CoinSmart offer?

The two-step https://forex-reviews.org/ and the account appropriateness questionnaire are the last steps. Cash, Stellar, EOS, USD Coin, Cardano, Dogecoin, Polkadot, Shiba Inu, Chainlink, Uniswap, Solana, Polygon and Avalanche. This extensive list of currencies is admirable, as other platforms such as Shakepay only offer two options. You can use CoinSmart to buy cryptocurrencies like Bitcoin, Ethereum, Litecoin, Solana, Tether, Uniswap, Polkadot, and Bitcoin Cash in Canada. This CoinSmart review covers what you need to know about the platform. With our exclusive CoinSmart referral code, you receive a $50 welcome bonus after depositing $200 or more into your new account.

• I am new to the whole Bitcoin thing and I was and still am amazed how much effort was put into helping me.
• Loans Canada may receive compensation from the offers shown on its website.
• Well, that’s for now and I do hope that they continue to prove they deserve their customers’ trust.
• You can scan the QR code on the screen with your phone, in order to continue the verification process on your phone.
• Coinbase is the largest cryptocurrency exchange in the US in terms of volume.
• With staking, you are helping to secure the blockchain, but with Defi yield, you lend your crypto assets to a 3rd party to earn rewards.

The selection of coins could be bigger, but is enough for the average investor. Easy to get set up with quick account verification. CoinSmart is aimed at people who have never used cryptocurrencies in the past. They are also licenced to operate in the USA by FINCEN. With a simple and user-friendly interface, CoinSmart reduces the barrier to entry for beginner investors. Exchange CAD for a variety of different cryptocurrencies.

Final Thoughts on CoinSmart

Fees are competitive against the market and the service guarantees are reassuring for their target market of novice traders. You can deposit Canadian dollars using Interac e-Transfer, wire transfer, or bank draft. You can deposit Euros via SEPA, wire transfer or bank draft and USD via wire transfer. The ability to purchase crypto using debit and credit cards is also available, as long as your bank allows it.

You will also have an coinsmart review representative on call, optimal pricing based on order/size volume, and several discounts. Once you fund your account, the next step is to start making money. SmartPay Invoicing makes it quick and easy to invoice customers and accept Crypto. This feature was specifically designed for more experienced investors. Featuring limit orders, stop loss, and real-time charting, you can place customized orders using our order book functionality regardless of your trading volume.

CoinSmart did not send any communication to me or obtain my approval before they sold my crypto. Then they said the crypto value dropped is the reason my account balance is lower than I expected. There is very limited history of account transactions made available to customers for accountability. 1 The use of “featured”, “popular”, “best” and “top” on Finty do not constitute a product rating or recommendation and are subject to our general disclaimer. Calculations in comparison tables will vary based on personal data input. At Finty we want to help you make informed financial decisions.

This is great for businesses who would like to receive crypto payments. The Advanced Trade app is suitable for more experienced traders and offers charting and order book data as well as different order types such as limit orders. Inside the CoinSmart dashboard, you’ll find market information and your portfolio balance. At the top of the page are options for buying and selling, accessing the advanced tools, and your wallets. You can scan the QR code on the screen with your phone, in order to continue the verification process on your phone.

Great customer service from John

Deposits are credited to your account the same day that CoinSmart receives them. This can be extremely advantageous if you’re trying to make profits by timing the market. Moreover, deposit and withdrawal wait times have also been reduced to help you get your money faster. SmartPay is the easiest way to accept crypto payments. Instantly convert your BTC to fiat with same day payouts wired to your bank account. Get guaranteed exchange rates and low transaction fees without the risk of chargebacks or price volatility.

It enables you to use limit orders, stop losses, and real-time charting, all of which can give you an advantage in the market. This means they aren’t connected to the internet and, as a result, are much less vulnerable to hacking. This means that even if someone were to hack your account, they could not access it unless you gave them permission.

And when you fund your account via debit, there’s a 3.99% fee, before you’ve purchased your crypto. Canadians who are considering opening a Coinbase account need to be aware that you cannot sell your crypto and transfer directly to your bank account. Your only option is to transfer funds to a PayPal account, then move them to your bank account. It’s not terrible but isn’t as convenient as the options provided by most Canadian cryptocurrency exchanges, like Bitbuy and Coinsmart. Unfortunately, Coinbase doesn’t disclose this detail very clearly on its website.

There is an Express Trade option for quick crypto swaps and an advanced option for different order types and more advanced trading tools. CoinSmart and any other crypto exchange can track where you have received and sent crypto. Crypto transfers are recorded on the blockchain and are public.

Frank Mortgage is Canada’s one-stop shop for mortgages. To create an account with CoinSmart, you must sign up on its registration page. Click withdraw and enter the address of your external wallet.

You will need to upload a picture of your ID using your computer’s webcam or by taking a picture with your mobile phone. Coinbase will ask you to provide some basic personal information, including your date of birth and address. They’ll also ask you some basic questions, such as your employer and occupation. With money in your CoinSmart account, you can begin trading crypto.

CoinSmart was created with the goal to democratize the world of cryptocurrency investments. Tom Drake is the consumer and credit expert at Retire Happy, sharing his knowledge on the best ways to get the most for your money. Whether it’s credit cards, banking products, or travel tips, Tom shares his insight as a financial analyst and as the writer behind the award-winning MapleMoney. Coinbase has its own Visa Debit card, known as Coinbase Card.

If your account is frozen you will need to contact CoinSmart’s support team. Examples of suspicious activity could be trading larger amounts than usual or more frequently, or depositing and withdrawing larger amounts than usual. CoinSmart is not an exchange where people often complain of accounts being frozen. However, CoinSmart can and will if they suspect suspicious activity on your account.

Once your ID has been verified, you must set up a funding method. Coinbase no longer accepts credit cards for account funding. It could do with more altcoins, but overall, CoinSmart is an enjoyable exchange to use. It’s easy to register and you can start trading while they verify your account. We think CoinSmart is a legitimate Canadian cryptocurrency exchange and if you want to spend USD or Euros as well, then CoinSmart is a great choice.

His work has appeared in several publications, including the Canadian Student Review and NewEngineer.com. In his spare time, Matthew enjoys reading, geocaching, and spending time with his family and pets. This site may contain third-party advertisements and links to third-part sites. Are you 18 years and above, and you live in Canada?

CoinSmart Customer support

If you want to trade crypto, bypass Coinbase and go with a trusted crypto exchange based in Canada, like Bitbuy, Coinsmart, or Wealthsimple Crypto. Coinbase Learning Rewards is available to Canadian users. You can earn crypto by completing educational tutorials that are designed to teach you about different types of crypto. You can access the available video courses from your crypto account. Buying and selling crypto is incredibly easy with Coinbase.

Therefore, the way forward is for financial experts to review cryptocurrency exchanges so that their clients and followers know where to invest. Is price volatility keeping you from accepting crypto payments? SmartPay auto-sell your crypto on receipt and funds are wired to your bank account right away. We have all the bells and whistles of a truly advanced trading platform.