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Fiat currencies
24
Cryptocurrencies
| Product Name | Coinberry Cryptocurrency Exchange |
|---|---|
| Fiat Currencies | CAD |
| Cryptocurrencies | BTC, ETH, LTC, XRP, BCH, XLM & 19 more |
| Deposit Methods |
Credit card Debit card Interac e-Transfer Wire transfer |
| Trading Fee | 0.5% |
| Deposit Fees | None |
| Withdrawal Fees | None |
Coinberry is a Canadian cryptocurrency exchange founded in 2017 and based out of Toronto, ON. It offers a selection of over 25 cryptocurrencies and generous referral reward programs.
It has gained a reputation as being one of the most compliant cryptocurrency exchanges in Canada and is the first cryptocurrency exchange to be fully regulated across Canada. It is an exchange that understands its place in the market.
Coinberry is a very good exchange, especially for people new to the cryptocurrency industry. It has a good selection of cryptocurrencies to choose from and easy-to-understand features. Coinberry actively seeks engagement with regulatory authorities and implements best practices with security and insurance.
Coinberry is a compliance-driven exchange. It is fully registered with FINTRAC and the OSC, PIPEDA compliant, and holds $200 million in insurance through its third-party digital asset custodian. This compliance-driven approach enabled it to become the first exchange in Canada to partner with municipal governments for Bitcoin tax payment processing. As a result, it has a stricter KYC protocol for registering new accounts.
Coinberry lacks some earning tools that other exchanges offer but it makes up for these through its fees. It operates on a spread that enables them to offer 0% deposit and withdrawal fees on CAD.
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| Transferring money or assets | |
| Fees and costs | |
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| Staking/earn rating? | |
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Operating on a spread allows Coinberry to offer 0% fees on both CAD deposits and withdrawals. It does disclose, after listing its processing fees, that most transactions will be processed within 15 minutes, but certain withdrawals could take up to 1.5 days to process. Additionally, there is a 24-hour hold period for first-time users after funding their account for the first time.
| Method | Deposit | Withdrawal | Processing time |
| Interac e-Transfer | 0% (no minimum / $10,000 maximum) | 0% ($100 minimum / $5,000 maximum) | Instantaneous |
| Wire transfer | 0% ($10,000 minimum / $500,000 maximum) | 0% ($10,000 minimum / $500,000 maximum) | 2–3 business days |
Coinberry charges zero fees on crypto deposits, but there are varying fees for withdrawals. Litecoin (LTC) has a fixed rate of 0.2LTC for withdrawals while Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) have dynamic fees.
| Deposit | Withdrawal |
| 0% | Varies |
Coinberry is an easy exchange to navigate. It is user-friendly and offers a good selection of cryptocurrencies and learning options. While it may not have as many features and earning protocols as other exchanges, it makes up for that through its referral programs and additional layers of security it has implemented.
Coinberry has limited customer support options that its users can take advantage of. The first place that users should look if they are experiencing issues is the Coinberry help center. This is a page that has an extensive list of FAQs and solutions. If the issue is not listed in this section, there is a contact form at the bottom where you can go into specific detail about the issue. This form will be sent off to the Coinberry customer support staff where it will be reviewed and you will be contacted back with a solution. This form is the best method for users struggling with the registration process who don’t yet have an account.
The only other method for contacting customer support is through a separate email ticket system for users found on the Coinberry customer support page. Users can use the ticket email system report card or email Coinberry directly.
Coinberry is the first Canadian cryptocurrency exchange to be fully regulated across all of Canada. It engages in best practices for security and holds over $200 million in insurance through one of the most regulated third-party digital asset custodians, Gemini Trust Company, LLC.
Coinberry has a robust and extensive KYC protocol and is fully compliant with FINTRAC and the OSC’s AML regulations. While centralized exchanges can never guarantee 100% security, Coinberry has taken one of the most rigorous approaches, making it one of the most trusted exchanges in Canada.
Coinberry has a quick and easy-to-use registration process. The exchange implements a strict KYC protocol with additional information on you and your spouse’s income status, risk tolerance, and knowledge of the industry being asked for. These are additional steps that other exchanges do not require, but it enables Coinberry to be one of the only fully regulated cryptocurrency exchanges across all of Canada. The whole process from start to finish should take less than 15 minutes as long as you have a government ID at the ready.
To start the registration process, click the green button here:
Users can then find the link in the Sign Up tab in the top right of the homepage.
Clicking the Sign Up tab will bring the user to a page where they can register an email address with the exchange. Once complete, users will be sent a verification link where they can confirm their email address and begin the KYC stage.
Once you have successfully verified your email address with the exchange, it will begin the KYC process by asking for your phone information.
For this step in the verification process, users will be required to submit a government-issued ID.
After you have successfully submitted your government-issued ID, you will then be required to submit a live photo and a short video response.
The final step to verifying your account and enabling it to be funded is through a short Investor Suitability Assessment. This questionnaire will ask for information on you and your spouse’s income status, investment allocations, risk tolerance, and knowledge of the cryptocurrency industry.
Once you have completed the Investor Suitability Assessment, you will be able to access your dashboard and account.
All Coinberry users are required to implement a 2FA security protocol on their account. This can be accessed through the security tab in your profile settings.
That’s it. Your account is ready to be funded and you can start trading.
