Coinberry cryptocurrency exchange – review
Simple and straightforward crypto buying and selling with fees of 0.5%.
- Great for beginners
- Not so great for its limited number of supported cryptos
|Product Name||Coinberry Cryptocurrency Exchange|
|Cryptocurrencies||BTC, ETH, LTC, XRP, BCH, XLM|
Learn more about Coinberry
What fiat and cryptocurrencies are supported?
- Supported fiat currencies: CAD
- Supported cryptocurrencies: 6 cryptocurrencies
Which payments methods are accepted?
- Credit card
- Debit card
- Interac e-Transfer
- Wire transfer
Fees and limits
Platform trading fees
|Platform fee type||Fee|
|Exchange rate margins||Varies – check your prices at the time of purchase|
Deposit and withdrawal fees
Coinberry does not charge any fees on deposits. All fees that apply are to the payment provider.
|Credit card||Standard card payment fees apply, plus cash advance fees of up to 6%||$500 maximum per transfer|
|Interac e-Transfer||Free||$10,000 maximum per transfer|
|Wire transfer||Varies depending on your location and financial institution||$10,000 minimum, $500,000 maximum per transfer|
|Cryptocurrency||Standard network fees (typically no more than a few cents)||No set limits|
|Interac e-Transfer||None||$100 minimum, $5,000 maximum per transfer|
|Wire transfer||None||$10,000 minimum, $500,000 maximum per transfer|
|Cryptocurrency||Standard network fees||No set limits|
How fast will my funds be available?
1 business day or less
Interac e-Transfers can complete within 3 hours, credit card payments are instant and wire transfers take up to 1 business day.
The time taken before a cryptocurrency transaction is confirmed depends on a range of factors, but will typically take just a few minutes.
1 business day
Interac e-Transfers and Wire Transfer withdrawals both take 1 business day to process.
What’s it like to use Coinberry?
Is Coinberry safe to use?
- Regulation. Coinberry maintains an AML/KYC policy, and says it operates in a FINTRAC compliant manner, with a designated compliance officer, and was one of the first cryptocurrency platforms in Canada to register with FINTRAC as a Money Services Business (MSB). It’s one of only two cryptocurrency platforms in Canada to successfully complete a audit from an independent accounting firm.
- Verification. Users are required to verify their identities before trading on Coinberry.
- Security features. Coinberry says it takes several steps to ensure it offers industry-leading security standards. These include segregated funds (separate bank accounts for customer and company fiat), cold storage for user crypto and optional 2-factor authentication for users.
How do I create an account at Coinberry?
What else do I need to know about Coinberry?
Coinberry got its start as a bitcoin ATM service in Canada in 2017, with the aim of making cryptocurrency more accessible.
The Coinberry platform is part of this goal. It can be thought of as a cryptocurrency retailer rather than a full fledged exchange. Instead of trading directly with others, you’re buying and selling through a cryptocurrency broker.
In a nutshell
- Easy. Coinberry is mostly geared towards making crypto trades and purchases as easy as possible.
- Accepts CAD. Coinberry is one of a relatively few exchanges to accept Canadian dollars.
- Spreads. Coinberry buys below market price and sells above market price, unlike peer-to-peer exchanges.
- CAD only. Coinberry is geared towards supporting Canadian dollars. Other currencies will be converted at prevailing rates.
- Limited choice. Coinberry only offers a handful of cryptocurrencies.
Ready to sign up?