Coinberry’s trading platform caters more to investors and beginner traders rather than advanced day traders. This means that the interface is designed to be simple and user-friendly, without complex features like margin trading or detailed trading charts. Once your account is verified, you’ll find easy-to-use buttons for buying and selling Bitcoin, Ethereum, or Litecoin, allowing for instant crypto purchases directly from Coinberry. Coinberry allows users to trade cryptocurrencies through its mobile app or web platform.
The last port of call to get hold of the exchange is through their numerous social media accounts. Currently, there are only three cryptocurrencies on offer at Coinberry and these include Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH). The first and most important of these has to be mobile two-factor authentication. With this enabled, you will need to confirm the account login through your mobile device. Coinberry servers will sync up with Google authenticator which will generate the unique login codes. Bitcoin hacks and data breaches are one of the biggest threats that face nearly all exchanges.
Very easy to use and deposits are quick!
Hence, when we are analysing the safety of an exchange, one of the most important requirements that we look at is a robust cyber security protocol. For these reasons, while Coinberry is a solid option, we recommend exploring other Canadian exchanges like Bitbuy or Binance for a better overall experience. However, there are some people who have had trouble withdrawing assets. Coinberry allows you to choose between a market order (executed at the current market price) or a limit order (executed at a specific price you set). This flexibility helps you tailor your trades to your preferences. Withdrawals depend on the network and to withdraw bitcoin to a private wallet takes only a few minutes but can take up to 10 minutes.
I almost lost everything
Last but not least, once the e-Transfer has been set, the balance will be deposited into your Coinberry account. According to their website, they employ fraud monitoring across their platform to guard against financial fraud, account takeovers, etc. Coinberry is a licensed and regulated crypto platform and must comply with KYC laws. It has obtained regulatory approvals from FINTRAC and the Ontario Securities Commission, demonstrating its commitment to compliance and security.
Never use this company as a Crypto…
- There are no fees for trading, depositing or withdrawing funds on the Coinberry platform.
- Founded in 2017 by Andrei Poliakov and Evan Kuhn, Coinberry makes it easy for Canadians to deposit fiat and trade fiat into crypto.
- There are a plethora of options out there when it comes to buying and selling cryptocurrencies in Canada.
- Tailored for beginners, NDAX boasts a clean and simple interface, quick CAD transactions, modest fees of only 0.2%, and free deposits.
- Most crypto traders feel that desktops give the best conditions for their trading.
- Among the main selling points of Coinberry are the low fees they offer for crypto trading.
You will have a good range of charting tools and indicators available through the desktop platform all of which are clearly labeled and can help you gain some trading insight into the available markets. They are also completed covered by as much as $200 million in insurance on your held crypto-assets for which they partnered with the regulated custodian, Gemini Trust Company. Coinberry also has a financial institution bond underwritten by Lloyds of London that covers as much as CAD$1 million per claim. There are quite a few suggestions that users have given about how to improve the apps functionality which are all well received. It is highly encouraging to see that the Coinberry developers are “on the ball” and are quickly responding to these queries.
E-transfer funds missing
THEY REFUSE TO DO SO, AND HAVE NO GROUNDS HOLDING IT EITHER, THIS IS FRAUDULENT, BY HOLDING MY MONEY, THEY ARE coinberry review STEALING IT. You can buy and sell as many as 19 cryptocurrencies with Coinberry, more than most Canadian exchanges. Only two, however, can be used to fund your Coinberry account (BTC, ETH), and only four currencies can be directly withdrawn (BTC, ETH, XRP, LTC). You must convert all other currencies, including alternative coins to one of the four main currencies or to fiat currency (Canadian dollars) prior to withdrawal.
The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. However, not all crypto investors require desktops for their trading. If you are one of those traders, you’ll be happy to learn that Coinberry’s trading platform is also available as an app for iPhone and Android users.
Coinberry Mobile and Desktop app
- You will still have to pay an arbitrary miners fee on the withdrawal of crypto.
- However, they are in full control of the private keys, which can pose a risk if Coinberry experiences a hack or wants to lock your account for whatever reason.
- Since then, they have also partnered up with other government bodies in Canada.
- Toju Ometoruwa is a Northeastern University alumni who is the co-founder of Pazima, a start-up that provides secure lending options for low-income workers.
- Coinberry has been around for a while and it has made some good strides toward becoming one of Canada’s most popular exchanges.
As we are not from Canada, we have not been able to obtain a picture of the purchase interface here. We apologize for this inconvenience and we will be sure to update this review with a picture of the trading view as soon as we have received it. Wealthsimple keeps track of your trades and automatically imports the information into Wealthsimple Tax to make reporting and filing taxes a breeze. If you’re interested in earning passive income from your crypto holding, you can earn up to 11% APY by staking DOT, SOL, ETH, or ADA.
Just provide the necessary documents, and Coinberry will personally verify them within one to three business days. If the instant verification process doesn’t go as smoothly as expected, don’t worry! AutoPilot, the feature that puts you in control of your crypto purchases on Coinberry.
While the iOS experience appears smoother, these complaints highlight areas where Coinberry could improve. Disappointed with the service at coinberry from delayed withdrawals to unresponsive customer support. It’s a stark contrast to the professionalism I’ve experienced with “EAšÿBĘ” where issues are resolved promptly. Coinberry gives its users the ability to get their bitcoin out of their account at any time. To withdraw money, all that is required is the address of the wallet you use.
When it comes to cryptocurrency trading, customer support is undeniably crucial. We all know the frustration of having urgent queries that require timely assistance. That’s why Coinberry stands out with their customer support options. With the ability to send crypto and scan barcodes, Coinberry is pushing the boundaries of how we perceive and utilize our cryptocurrency funds.
Also, both exchanges are registered by FINTRAC as a Money Services Business. This means that they both must adhere to anti-money laundering regulations. Also, Coinberry uses 2FA authentication to protect your account. You need to confirm your identity with a secret code sent to your phone every time you log in on the platform. Coinberry is also one of a handful of crypto platforms that are registered as Restricted Dealers or Marketplace with the Ontario Securities Commission.
Yet, because this is a one time address, you have to be sure to never send to the same address twice. Once you have confirmed that you understand the above, they will give you the one-time address. You can also add a referral code if you were referred to the site by a friend. The exchange does offer a referral rewards program where you can earn $20 for inviting friends to sign up, but only once they trade $50.
