Coinberry Review 2023: Features, Fees & Safety

According to the website, 97% of assets on the platform are held in offline cold storage facilities and 2 Factor Authentication is available to protect accounts against exchange hacks. Coinberry offers an extremely easy-to-use cryptocurrency exchange specifically tailored towards a Canadian user base, with CAD being the main currency. Verification is quick and its well-designed app makes trading it a pleasure to trade what is a decent range of coins. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets. The Coinberry platform is suitable for beginners with its simple and modern layout.

coinberry review

In order to get the address to which to send the funds you will need generate an address. You can do this in your account section under the “Fund Account” section. Here you will have to select “crypto” and then either BTC or ETH.

How Do You Buy Or Sell Crypto On Coinberry?

The company confirmed a collaboration with BRD bitcoin wallet in August of 2018. It stated that its independent financial audit had been completed effectively in January 2019. Coinberry’s key features are 25 cryptocurrencies, free deposits, and beginner-friendly trading. They are also considered safe because they are OSC regulated, registered with FINTRAC, and owned by a publicly traded company. They were acquired by WonderFi in 2022, who also owns Bitbuy, another Canadian cryptocurrency exchange.

I was nervous and frustrated with my inability to log into my account and was ready to give up. I reached out to customer support and it turned out be an easy fix. What I consider exceptional about the support is how patient and knowledgeable they were. Within a short period of time and a lot of understanding on their part, I was up and running. I am much more confident now, heading into this new trading adventure thanks to their help.

  • The firm is presently led by Evan Kuhn and Andrei Poliakov, two of the company’s initial founders.
  • However, there are some people who have had trouble withdrawing assets.
  • The goal of a short seller is to agree to sell at future prices that are higher than the spot price will be at the time.
  • In 2020, Coinberry even received a Financial Institution Bond from an underwriting company called Llyod’s of London.

In addition, the platform is dedicated to effective user onboarding, fraud monitoring, and reporting. Coinberry complies completely with FINTRAC’s Anti-Money Laundering and Know-Your-Customer standards. This implies that users must first verify their accounts before they can begin depositing cash.

Supported Cryptocurrencies

Best of all, Hardbacon users receive a $20 account credit when they choose Square One. Compare dozens of Canadian crypto exchange platforms and find the one that best suits your needs. After funding my account using Interac e-Transfer, I had $100 to work with, and the money was available in my account almost immediately. I was interested in some of the alt coins available on Coinberry but chose to stick with Bitcoin for review purposes.

coinberry review

Exchanges allow you to trade with other investors, but Coinberry only allows you to buy or sell assets directly with them. If you’re a beginner and are interested in buying crypto for the first time, Coinberry is as solid an option as any other. The mobile app looks to be designed well for users who want to not only invest on the go, but also spend their cryptocurrencies at merchant stores or anywhere else that accepts them. This is perhaps one of the only Canadian exchanges that offers free withdrawals and deposits on CAD funding. This is quite an important point when you consider that most deposits / withdrawals at other exchanges are on average 3% one way. The trading fees on Coinberry are based on the price spread at the time you place a trade and vary between 0% and 2.5%.

Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. Get access to multiple fiat currencies and advanced trading tools. Coinberry appears to be a legitimate company that is registered with the Financial Transactions and Reports and Analysis Centre of Canada as a Money Service Business. If you are one of those folks looking to jump aboard meme coins like Dogecoin, Coinberry offers it as well.

Coinberry Review: A Cryptocurrency Exchange Built for Beginners

It delivers a user-friendly mobile application for converting traditional currency into crypto and vice versa on the web, iOS, and Android. Cryptocurrencies that are currently available include Bitcoin, Ethereum, and Litecoin. Currently, the Canadian dollar is the only traditional currency that is supported. The company was launched in July 2017 as a Bitcoin ATM firm by a team of bitcoin and blockchain businessmen. The firm is presently led by Evan Kuhn and Andrei Poliakov, two of the company’s initial founders. It launched its platform on the internet in November 2017 and deactivated all the BTMs.

They’ve been around since 2017 and feature 0% funding fees, a claim, not all crypto exchanges can make. In this Coinberry review, I’ll fill you in on all of their features, and let you know how they compare to the top cryptocurrency trading platforms. Coinberry is a Canadian exchange that allows individuals to buy and sell Bitcoin and 15 other cryptocurrency assets in a safe and secure manner. Featuring a beginner-friendly platform, zero CAD deposit and withdrawal fees using Interac e-Transfers, Coinberry is a suitable platform for locals. However, its disadvantages include a limited selection of assets, spreads above market up to 2.5% and poor feedback based on customer reviews. Coinberry is one of the best Canadian crypto exchanges where users may purchase and sell cryptocurrencies in Canadian currency.

coinberry review

We appreciate your feedback Pablo and thank you for taking the time to give us the opportunity to make this better. We’re working hard to improve our platform, and have a number of updates on the roadmap to address things like this. If you’d like some support, please email us at and a member of our customer support team would be happy to assist you. I do not like withdrawal fees and can only withdrawal particular crypto.

No limit order book or advanced charting tools are available, which makes Coinberry more suitable for new traders. Potentially High Fees – Coinberry’s crypto prices coinberry review and values differ greatly between currencies. Depending on which crypto-coin you choose and how much money you convert, you may be charged fees up to 2.50%.

Coinberry Insurance, Security, and Trustworthiness

These are important in helping you both choose the correct time, and the correct service to make your Stacks purchase. 2.5% is a hefty price to pay, much higher than the commission fee charged by other platforms. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more.

How Long Do Deposits Take?

This is helpful if you have a dollar cost average strategy where you buy crypto at regular intervals e.g. weekly. 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. Affiliate partnerships may affect where a particular product is listed within a review, but they don’t affect the review’s content in any way.

Coinberry has a spread of between 0 to 2.5%, which is quite high. 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.

The main key differences are that in purchasing from Binance you can also buy from other traders in the market through the exchange. This can mean great value for you in terms of price and costs. The platform doesn’t charge any fees for deposits or withdrawals, so they’ll be able to use more of their crypto for selling, buying, or trading. Coinberry allows you to exchange CAD for various coins and tokens.

The last port of call to get hold of the exchange is through their numerous social media accounts. For example, you can message them on Facebook or their Twitter. Currently, there are only three cryptocurrencies on offer at Coinberry and these include Litecoin , Bitcoin and Ethereum .

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. The partnership allows Coinberry to join 2,000 national merchants, like Indigo, Sony, Adidas, and Dell to make payments easier. Co-founders Andrei Poliakov and Evan Kuhn developed the exchange to reduce the learning curve for new people getting involved in cryptocurrency investing.

If the company ever has its assets frozen, customers wouldn’t have to worry because it wouldn’t impact their accounts in any way. With that being said, Coinberry is an incredibly safe and secure option for any Canadians interested in crypto. This ensures that if the company’s bank accounts were to ever be frozen, it would not affect the customers’ money.

Now my account is restricted and I can no longer access or see any of my assets. Attempts to contact customer service have gone unanswered and the only contact point is email. However, for more experienced traders, Coinberry may not be suitable, as there is a limited range of only 18 cryptocurrencies, and no advanced trading tools. If you are a serious trader, you may find that Binance is the exchange for you.