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• To complete your registration, you will be asked to verify your identity with a government-issued ID.
• Mogo employs a simple and elegant fee structure that beginners will understand.
• Coinberry is a FINTRAC-registered platform that allows its customers to buy and sell Bitcoin, Ethereum, Litecoin, XRP, Stellar and Bitcoin Cash.
• In the ever-evolving world of cryptocurrencies, finding a reliable and user-friendly exchange can be a challenge.

Please take note that the wire must come from an account that is in the same name as you have been verified with. Hence, you cannot make third party transfers into or out of your account. 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. Once you have hit “submit” on the sign up you will have to confirm your email. Once confirmed, you must add a secure phone number to enable 2-factor authentication and protect your account.

Coinberry Trading Features

• This is particularly crucial in light of the historical occurrences involving the scam QuadrigaCX platform, which was the country’s largest exchange until its downfall in December 2018.
• Customer feedback is mixed—while some users praise the support team’s responsiveness, others report unresolved issues.
• It employs multiple security measures such as two-factor authentication (2FA) which requires email confirmation whenever there is a login attempt from a new IP address or device.
• Bitbuy, a subsidiary of Toronto cryptocurrency company WonderFi, has purchased all of the client accounts of Calgary-based Bitvo.
• The Bitbuy app has a 4.6-star rating and 6,000 ratings on the Apple App Store.

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. We deposited $120 into our Coinberry account, and since deposits are free, the full amount was available in our account. Coinberry’s spread ranges from 0% to 2.5%, which is relatively high. The spread can also fluctuate depending on the liquidity of an asset—higher liquidity and trading volume generally result in smaller spreads. Coinberry does not offer any additional features such as staking or Visa cards.

Competitive Bitcoin Prices

Because of this capability, merchants may now accept cryptocurrencies as a means of payment, and customers’ cash can be converted into Canadian dollars and put into their bank accounts without any hassle. It’s fantastic that Gemini offers industry-standard functionality like two-factor authentication. Because users are only able to purchase and sell assets using Canadian dollars on the platform, it functions more similarly to a brokerage than it does an exchange. The reason for this is because users are unable to exchange crypto assets with anybody else outside Coinberry.

The withdrawal fees are 0.0005% for Bitcoin, 0.0063% for Ethereum, and 0.02% for Litecoin. Coinberry does not support withdrawals for other popular cryptocurrencies. Coinberry has a dynamic trading fee structure, determined by the time of your crypto trade.

This is a platform used by scammers

By using an email or authenticator app to verify that the customer is signing into their Coinberry account, it is much less likely that accounts will be compromised. A zero tolerance policy toward fraud is also enforced on the platform. Accounts go through all KYC and AML procedures by requiring the necessary identification documents from customers. All infrastructure and financials undergo annual third party audits.

Something that we were quite surprised by is the fact that Coinberry uses unique one time addresses for those users who fund with crypto. This means that Coinberry is helping you protect your transaction history by not re-using addresses. This is slightly underwhelming as most of the competition has at least 5 coins for their traders to choose from. Perhaps this is something that the Coinberry team is planning on introducing at a later stage and we will keep our eyes on their news wires. Currently, there are only three cryptocurrencies on offer at Coinberry and these include Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH). In most cases though, the front line of security will start with the user.

Some recognizable names include Bitcoin, Ethereum, Cardano, and Solana. Promising digital currencies like Avalanche, Polkadot, Polygon, and Stellar Lumens are also included. In Canada, the business is met with heavy scrutiny, making controversial headlines near the end of 2021. After regulatory assessments, the Ontario Securities Commission (OSC) has declared Binance is unauthorized to offer crypto trading in the province. Since its registration remains unapproved in Ontario, some Canadians may not be able to use Binance.

Coinberry Key Features

The Bitbuy app has a 4.6-star rating and 6,000 ratings on the Apple App Store. According to reviewers, the Android app has bugs that prevent them from logging in and verifying their account. 2.5% is a hefty price to pay, much higher than the commission fee charged by other platforms. What sets Coinberry apart is its unique ability to short sell assets, which we haven’t seen on other Canadian exchanges. Enter your email address and set up a secure password, then click on create account and you’re all set to dive into the world of digital currency.

How Long Do Deposits Take?

Shoot them a message on their website or email Their contact page is also available for specific queries. And for those routine questions, check out their FAQ page, covering everything from funding with e-Transfer to buying crypto with Canadian dollars. There are ZERO fees charged for withdrawing CAD by e-Transfer or Wire transfer. While the number may not be as extensive as some other exchanges, Coinberry covers the most popular choices that beginners are often interested in, such as BTC (Bitcoin) and ETH (Ethereum).

Yes you can trust Coinberry as it is a legitimate crypto exchange, registered with FINTRAC and has been in operation in Toronto since 2017. Coinberry uses institutional grade protection for their crypto assets, partnered with Gemini Trust Company, so you do not need to worry about security issues. Over the last 3 years, we put every Canadian platform to the test across 60+ features each. Visit our free comparison tool here or see this year’s Best Canadian Exchanges. With that being said, Coinberry is still a centralized crypto exchange and does not replace the need for a hardware wallet.

Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians. Coinberry and any crypto exchange can track where you have received and sent crypto since crypto trades are recorded on the blockchain and are public. Many customers express satisfaction with Coinberry’s services, often highlighting the professionalism and helpfulness of the support team in addressing their needs.

Offline Security

While these trading fees are higher than the industry standard, the processes are quick and simple. You will also incur additional fees levied by its exchange partner. Mogo’s cryptocurrency offerings are best served if you use other financial services from the company. Please note that Mogo’s crypto exchange services are not available coinberry review in the province of Quebec. The Instant Buy feature is available on Kraken, allowing users to trade crypto directly and conveniently. Generally, Kraken’s trading fees are slightly higher than the industry standard, especially if you don’t use Kraken Pro.