Coinsmart Review: 8 Points To Quickly Know If It’s For You

Coinsmart Review: 8 Points To Quickly Know If It’s For You

There aren’t too many bells or whistle to the advanced trading tab, but it has everything you need to trade successfully and should be more than enough for the average trader. The CoinSmart desktop interface is extremely well done and clearly outlines all their services. Whoever they hired to do their UI deserves a lot of credit because the design is as aesthetic as it is simple and makes easy work of buying/selling or managing your portfolio. They also have one of the most beautiful wallet interfaces I have seen, with colorful animations outlining all the supported assets and balances. If the most important thing to you is user experience, CoinSmart will certainly impress you. Netcoins is yet another Canadian cryptocurrency exchange that allows you to buy and sell cryptocurrencies.

Best Crypto Trading Platforms 2025

Customer support is a very touchy topic when it coinsmart review comes to cryptocurrency exchanges. This is mostly due to the fact that, in regards to crypto, in general, customer support isn’t exactly all that common. Canadian cryptocurrency exchanges are, admittedly, somewhat rare.

CoinSmart Reviews 368

If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada. While crypto itself is decentralized, crypto exchanges are centralized and have the power to freeze anybody’s account if they suspect suspicious behaviour. 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. You can instantly convert your crypto to fiat and have it wired to your bank, or you can hold the crypto. This is great for businesses who would like to receive crypto payments. That said, the app still has limited functionality compared to the desktop platform.

• There aren’t too many bells or whistle to the advanced trading tab, but it has everything you need to trade successfully and should be more than enough for the average trader.
• CoinSmart is an excellent choice for those looking to get started with cryptocurrencies or those who are already experienced traders.
• While this might be something that you’d come to expect with most reliable crypto exchanges out there, to this day, it’s still a notable benefit that warrants at least mentioning.
• Savvy New Canadians content is vigorously reviewed for accuracy by our team of qualified fact checkers.
• The only catch, however, is it is only available to clients looking to complete orders of $25,000 or more.
• If in doubt, seek professional advice from an FCA regulated advisor.

How do I withdraw money from CoinSmart?

Fees at CoinSmart are extremely competitive in line with the rest of the industry. First of all, there is a trading fee of 0.2% when you trade Canadian Dollars (CAD) with any cryptocurrency. Outside those trades, all other cryptocurrency trades have a 0.4% fee. Furthermore, the company is publicly traded having launched on the Canadian NEO stock exchange in November 2021.

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The exchange requires users to complete a Know Your Customer (KYC) process, which involves submitting government-issued identification to comply with anti-money laundering regulations. Since its inception, CoinSmart has made a mark in the Canadian crypto market and extended its influence to users across various continents. The platform is accessible in over 40 countries and has obtained a registered securities dealer and marketplace status with the Ontario Securities Commission. For clients interested in conducting trades, CoinSmart Premium delivers an elite OTC trading solution per transaction designed for individuals or institutions requiring personalized attention. The services include trade solutions, direct access to dedicated account managers, and enhanced liquidity for executing large orders. However, there have been instances where customers experienced delays in resolving account issues.

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. You can buy, sell and exchange crypto assets at the best possible exchange rate with analysis tools, 24/7 live support, local funding methods and a high level of security. CoinSmart is a cryptocurrency exchange that operates legally in the jurisdictions where it is available.

CoinSmart’s deposits are almost free, fiat withdrawals are just 1%, and they offer negligible crypto withdrawal fees. Although debit and credit cards deposit costs up to 6%, they are still cheap compared to other exchanges. CoinSmart charges 0.2% for single trades and 0.3% for double trades. In conclusion, a crypto exchange is an integral part of the crypto community, as crypto investors or traders choosing the right exchange matters. This article has covered important aspects of exchanges that are best suited for a broad spectrum of crypto investors and traders. We have also covered the essential features of these exchange networks, like top features, platform fees, security, user type, user-friendliness, coin variety, etc.

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Though, within that same tab, you can choose to get in touch via live chat with a representative if needed. If that doesn’t sound like fun, you can also visit their FAQ page. The page itself is very useful and functions as a help center, but it was rather difficult to find as it was buried in the fine print at the very bottom of the page. A very useful tool you can only access from the homepage before you are logged in is the GetSmart tab. It’s not clear why you can’t access this tab when you are logged in, but it is still an excellent resource if you want to learn about all things crypto.

Conducting transactions requires very little effort from the user and the dashboard allows you to sort your coins in order to balance your portfolio. A cryptocurrency exchange designed to bridge the gap between traders with experience and those who don’t have experience. Their objective is to make crypto accessible, reliable, and user-friendly. Coinsmart is a Canadian cryptocurrency exchange dedicated to breaking down the barriers of the complex crypto world. They offer simple solutions, learning tools, and 24/7 client support for all traders, from entry-level to expert.

• CoinSmart is available in various countries but can change based on regional regulations and compliance.
• Customer support is a very touchy topic when it comes to cryptocurrency exchanges.
• Daily operations in key markets such as Canada, Poland, and Spain show the exchange’s strategic international reach and the trust it has garnered from users worldwide.
• Users are also able to place custom orders using the platform’s order book functionality.
• Coinsmart is a relatively new Canadian cryptocurrency exchange that opened their doors in July of 2018.

Finally, you must set up Google 2 Factor Authentication and enter a 6-digit code anytime you log in to your account. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio. This risk is  higher with Cryptocurrencies due to markets being decentralized and non-regulated.

Deep liquidity is necessary for making large trades and preventing high spreads. CoinSmart does have an OTC Desk, so if you are debating whether to make a large trade with CoinSmart, you have that option. Even more disappointing, the app failed to save our progress and repeatedly redirected us to the beginning. While CoinSmart is making strides with its app, there’s still room for improvement in terms of user experience and reliability. Well, if you are looking for a transparent Canadian exchange that simplifies crypto while still having advanced functionality, then you should consider it.

CoinSmart is rather strict when it comes to anything KYC-related. Specifically, the exchange platform does not allow its users to partake in any form of transaction or money transferring before they complete their KYC checks. To put things simply, the US has a lot of complex and strict regulations when it comes to cryptocurrencies, and their trading. These regulations become especially complex when you start dealing with out-of-country exchange platforms, such as CoinSmart. CoinSmart allows complete beginners to take their time with the exchange, and “learn the ropes” as they go. Keeping cryptos in cold storage devices is probably the best way to ensure the security of those same assets.