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CoinSmart Review 2023: We Spent $100 To Test The Crypto Exchange

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These services provide top-notch security for your assets and they’re constantly being updated to reflect the latest changes in the market. Supports Interac, SEPA, wire transfers, and e-transfers as funding methods. For CAD, you can use Interac Money Request and Wire Transfer. All of them are aimed at providing a better experience for users, whether they are new to trading or have been doing so for years.

After submitting everything we were verified within 20 minutes. The Gemini exchange is a privately owned one that allows users to buy, sell or trade as well as secure a multitude of cryptocurrencies. It was originally launched in 2015 by Cameron Winklevoss and Tyler Winklevoss.

The information available includes time and date, amount sent and both “to” and “from” wallets. CoinSmart does not offer staking or crypto Visa cards, but it does have other features such as SmartPay, which allows you to invoice anyone and get paid in crypto. This is great for businesses who would like to receive crypto payments. This trading platform offers a comprehensive amount of data and tools. You can use drawing tools to make lines on the charts, and you can also select indicators such as moving averages.

Can CoinSmart Track where you Receive and Send Crypto?

Overall great exchange but please remember not to keep your crypto on any exchange no matter how great it is. Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you.

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THE CANADIAN PRESS/Andrew VaughanThe plan will require court, regulatory and shareholder approvals. CoinSmart is one of the best cryptocurrency trading platforms developed and based in Canada. CoinSmart is a publicly traded company that offers a simple and easy interface that makes trading a breeze. Users can trade among 16+ different cryptocurrencies through their desktop website or through their app, which is available on Google Play and the App Store.

How to withdraw money from Coinsmart?

The way fees are charged is transparent and there aren’t any nasty surprises. CoinSmart is probably one of the most prominent platforms in Canada, but also one of the most important platforms throughout the world. At a beginner’s level, it is intuitive but it also has more innovative features for experienced users.

You can use coinsmart review 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. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

CoinSmart offers Over-The-Counter services for premium traders placing large orders. OTC customers receive discounted pricing, same-day settlement, a dedicated CoinSmart Premium Account Manager, and VIP access to CoinSmart events, among other benefits. Coinsquare became the first Canadian crypto trading platform to be regulated by IIROC in October 2022. The three companies are expected to be consolidated under Coinsquare’s investment dealer registration with the regulator. CoinSmart’s funds are backed by a registered Canadian bank called Luminus Financial.

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. CoinSmart gives you on-the-go access to MATIC and other popular cryptocurrencies. The intuitive mobile app simplifies the digital asset buying, selling, and trading process. Download the best crypto trading app today and see how easy it is to buy and sell bitcoin and many other coins through our mobile app.

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. NDAX is also a good option for Canadians and offers low trading fees, staking and an easy to use platform. 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.


Exchange CAD for a variety of different cryptocurrencies. CoinSmart is reliable since Sudeen was able to resolve the issue in a timely manner. Just did the best possible solution in regards to the issue I am in.

I had been trying to cash out crypto…

It also plans to launch new and services similar to those already offered by major international players. We want to create the ideal crypto platform for our users in Canada, Europe, and beyond. In simple terms, we are legally obliged to operate transparently and ethically. CoinSmart utilizes world-class cybersecurity practices to ensure that your funds are always safe. Our funds are insured by BitGo, to guarantee protection in the unlikely event of a hack. User accounts and withdrawals are further kept secure via Google 2FA and Email Withdrawal Confirmations.


This may influence which products we compare and the pages they are listed on. Partners have no influence over our editorial staff. CoinSmart use BitGo’s cold storage service, which are insured by Lloyd’s of London for $100 million. They are also licenced to operate in the USA by FINCEN.

Regulated, centralized exchanges with a fiat on-ramp are necessary for the future growth of the ecosystem. CoinSmart is the perfect starting point if you are new to crypto, thanks to its 24X7 client service and jargon-free approach. Extra care has been taken to ensure simplicity in each and every step. Use SmartTrade to convert one of your other cryptos to MATIC in one step.

Sign-Up – The first step to creating an account with CoinSmart, involves signing up with your email. You will then have to verify your email address via a link that CoinSmart sends in an email. CoinSmart is required by law to adhere to strict principles of fund transparency.

It’s necessary to submit an ID to help prevent fraud and money laundering. Anybody looking to make large trades over $25,000 should consider this option because you’ll get a dedicated account manager and will be able to purchase at a competitive price. The guarantee that all account verifications will be processed within the same day. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. They can have some bugs but they actively work on it. Delays in deposit sometimes but always resolved in timely manner.

  • You can deposit both Canadian and US dollars into your account as well as Euros.
  • Tom Drake is the owner and head writer of the award-winning MapleMoney.
  • We purchased bitcoin on CoinSmart and the spread was 2.1%, which is high.
  • The deposited amount was $98.50 due to the 1.5% fee.
  • Now that’s customer service and why we can boast a 97% customer satisfaction rate.

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. Now that’s customer service and why we can boast a 97% customer satisfaction rate. You can find a detailed FAQ section on the website, which covers most of the topics you might be interested in. The two-factor authentication is a great security measure, as it adds an extra layer of protection. In case your account is ever hacked, the intruder won’t be able to do much without access to your phone.

CoinSmart review

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. We purchased bitcoin on CoinSmart and the spread was 2.1%, which is high. So while trading fees are low, the large spreads can make trading on CoinSmart expensive.

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While CoinSmart’s app clearly needs work, its desktop platform is beginner-friendly. It is easy to navigate, deposit, and purchase cryptocurrency. To make use of advanced features such as limit orders and charting, you have to use their advanced trading platform, which is accessible within your user dashboard. CoinSmart is “designed for beginners and built for experts”. You can purchase Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, Stellar Lumens, USDC, Dogecoin, SHIB, Cardano, Polkadot, Solana and more. CoinSmart also allows EUR deposits via SEPA, wire and bank draft, for free.

  • Our funds are insured by BitGo, to guarantee protection in the unlikely event of a hack.
  • Polygon-based NFTs can be easily bought on popular marketplaces like OpenSea.
  • I like questions I can answer which saves me time and gives me a good feeling that someone understands I need help.
  • In Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan.

Canadian crypto exchanges are following US guidance in order to be able to continue trading there. For beginners, CoinSmart offers many educational resources to effectively train yourself in crypto investing with a modern and fun interface. Most CoinSmart reviews are very positive about the platform’s user interface.

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