Once you register on the exchange, you can do two things – explore the website and get used to the UI, or pass the KYC verification and start trading. On the flip side, though, once again – the lack of coin and token variety can be a huge detriment to many crypto investors around the world. Naturally, this is especially true if you want to trade some of the more-niche coins or tokens. Finally, CoinSmart also offers OTC transactions for businesses and individuals looking to fill larger orders.
- The views and opinions expressed on this website are purely the author.
- However, even if your password is somehow leaked or phished from you, two factor authentications will stop unauthorized access.
- Lastly, CoinSmart offers offline, cold storage for all of the coins offered on its platform via a digital wallet.
- As mentioned in the introductory part of this CoinSmart review, the exchange in question is a centralized platform.
- CoinSmart is not an exchange where people often complain of accounts being frozen.
Avoiding Scams, Rug Pulls, and Market Manipulation: A Crypto Trader’s Survival Guide
We also liked their advanced trading platform and, unlike many other new exchanges, they seem to have strong levels coinsmart review of liquidity in all of their markets. This means that you can safely execute larger trades without worrying about order slippage. In this Coinsmart review, we will attempt to answer that question. We will give you everything that you need to know about the exchange including their security protocols, funding, fees, trading technology and customer support.
How does Coinsmart earn money (trading fees, spreads, commissions)?
Businesses can buy, sell or trade cryptos, and store their digital assets. With an integration of their own existing systems, businesses can use an API to help build blockchain-based apps. To make it less intimidating and more approachable, the crypto trading platform also comes equipped with learning resources, and unlimited client support. For advice on trends in the crypto-trading market, you can sign-up for the GetSmart Hub in order to receive the latest insights on Cryptocurrencies. Alternatively, opt-out of signing-up with your email address, and simply just access the landing page for direct links to blogs, articles and how-tos. There are monetary limits to the types of transactions that can be made on CoinSmart.
What Crypto Coins Are Supported
CoinSmart takes it a step further with unique features like a mining calculator, which helps users estimate potential earnings, and a “learn and earn” program. By answering quiz questions, users can earn rewards—a thoughtful way to engage both new and existing customers while helping beginners kickstart their crypto journey. As someone who has been trading crypto since 2016, tested over 50 exchanges, and shared insights on OCryptoCanada.ca, I wanted to personally evaluate what CoinSmart offers in 2025. With this hands-on experience, I’ve crafted a detailed CoinSmart review to help you decide if it’s the right platform for you.
Enhanced Security Features
With instant account approval and multiple funding options, CoinSmart allows you to trade 16 crypto trading with a minimum of $100. CoinSmart users may deposit already held crypto and trade crypto-crypto or crypto-fiat. Simply select the crypto wallet that you wish to deposit/withdraw/buy/sell/trade, by clicking “Open Wallet” as shown below. CoinSmart is an online crypto exchange designed to make cryptocurrencies accessible to everyone. The platform supports the buying, selling, and trading of Bitcoin and other digital currencies.
- The exchange offers trading in a smaller number of assets than some exchanges, though you will still find all of the major names supported, along with several other popular coins.
- The platform offers “instant verification” through Equifax, which means you can usually begin trading within minutes.
- Additionally, there’s a possibility of earning a passive income (a feature that is yet to be launched).
- They also found that the other exchange options were quite complicated and not well suited to those new to cryptocurrency trading.
- The ways to withdraw funds on CoinSmart are via bank wire, or via electronic funds transfer (EFT).
Additional features
High networth individuals, institutional buyers and sellers, premium traders can take advantage of this personalized 1-on-1 OTC trading service. Whether Bitcoin is a good investment will depend on its uptake as a store of value and/or its uses as a means of exchange over time. While many new millionaires have been minted from Bitcoin, many have also lost money.
Coinbase was last place with a total BTC purchase fee of 4.54%. The cheapest publicly traded platform was Netcoins with a 1.24% total purchase fee. Coinsmart enhances user security by providing insurance coverage for digital assets held on the platform, even though the details and coverage limits are not fully disclosed. This insurance adds a further layer of trust, complementing their cold storage and security practices.
Many people complain that the app crashes or that there are certain features lacking such as the ability to filter order history by trading pair. There are no fiat to crypto pairs, so you cannot buy bitcoin or other crypto directly with your dollars. You’ll need to first purchase Tether USDT on Kucoin and then trade that for the crypto you want.
Other services
The funds are approved on the same day, and you are then able to buy, sell or trade instantly. CoinSmart accepts Interac, E-transfers, wire transfers, SEPA, and other ways to purchase cryptocurrencies. You’ll also be able to handily track your deposits and withdrawals with one scroll.
We advise you to enable this the moment that you have created an account and trade with piece of mind. 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. Coinsmart is a relatively new Canadian cryptocurrency exchange that opened their doors in July of 2018.
Coinsmart Review 2022 – Best Canadian Exchange?
You will also have the option to print off the wire instructions. To complete the transfer, take the wire instructions and the reference number to your bank. CoinSmart is rather strict when it comes to anything KYC-related.