Credit card Debit card Interac e-Transfer Wire transfer
Trading Fee
0.5%
Deposit Fees
None
Withdrawal Fees
None
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
What is Coinberry?
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.
If this is your first exchange: Coinberry is approachable and easy to navigate for both exchanging cryptocurrencies and utilizing its services.
If you’re switching exchanges: Coinberry is the first fully regulated exchange in Canada. This level of compliance adds an additional layer of trust to the exchange that other exchanges lack.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Pros and cons of Coinberry
Coinberry Pros
Competitive prices
0% deposit and withdrawal fees
Coinberry Pay
Quick sign-up
First fully regulated exchange in Canada
Coinberry Cons
Only available in Canada
Lack of earning tools (staking, farming, lending)
Limited customer service options
Verdict: Is Coinberry any good?
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.
What to know about Coinberry
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.
Finder ratings for Coinberry
Supported cryptocurrencies
Transferring money or assets
Fees and costs
Ease of use
Customer service
Staking/earn rating?
Trustworthiness/security
Overall score
Coinberry has a good selection of cryptocurrencies on the exchange. It carries the largest and most recognizable coins in Bitcoin and Ethereum along with the hard forked version of Bitcoin, Bitcoin Cash. The exchange holds some of the larger altcoin layer 1 blockchains in Cardano and Polkadot, but is notably missing Solana. Coinberry has a good selection of meme coins, utility tokens, and the recently popularized decentralized gaming and metaverse tokens.
The full list of cryptocurrencies that is available for trading on Coinberry include: Bitcoin, Ethereum, Aave Token, Cardano, Axie Infinity, Balancer, Basic Attention Token, Bitcoin Cash, Compound, Curve DAO Token, Dogecoin, Polkadot, Enjin Coin, Fantom, The Graph, Kyber Network Crystal v2, Chainlink, Litecoin, Terra, Decentraland, Polygon, Maker, The Sandbox, Shiba Inu, Synthetix, Uniswap, Stellar, Yearn.Finance and Zcash.
Depositing and withdrawing fiat with e-Transfer is nearly instantaneous, while wire transfers can take longer. The process of transferring Bitcoin to the exchange through the Coinberry Pay program creates an additional accessible way to transfer Bitcoin to the exchange. Crypto deposit and withdrawal speeds depend on the network and its congestion.
Coinberry fees and costs
Fiat withdrawal and deposit fees
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
Crypto withdrawal and deposit fees
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
What is it like to use Coinberry?
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.
Educational platforms are an underrated feature of cryptocurrency exchanges. Coinberry allows new users to learn about the industry and the latest developments on the exchange.
Coinberry has developed a tool to walk its users through how to accurately record and report cryptocurrency taxes when they file. This is an important service as many users are unfamiliar with the process or unaware that they are engaging in a taxable event.
Coinberry has one of the most generous referral programs among exchanges in Canada. The Coinberry affiliate program allows users to receive a 50% commission on fees from the trades their referrals make. The 50% commission is taken from the difference in the buy/sell price of any cryptocurrency that a referral makes. There is a $50 minimum payout, but there is no cap on how much someone can earn from referrals.
A unique feature that Coinberry has implemented on the exchange is the ability to post a link to your Coinberry Bitcoin wallet on another site. This is a great option for content creators, but it is versatile enough that it can be used for charities or payment settlements for any kind of website or business.
Coinberry Autopilot is a tool that provides users with a DCA (Daily Cost Average) for purchasing cryptocurrency. DCAs help hedge against volatility by averaging out purchases over a period of time. The Coinberry Autopilot allows users to select monthly, weekly or daily purchases which it will automatically execute.
Does Coinberry have good customer support?
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.
List of Coinberry services
Coinberry does not charge any fees for trading on the exchange. Instead, it operates on a spread between 0–2.5%. It does note that these fees could be slightly higher or lower based on market fluctuations between the time the price was quoted and when it was executed. Any variance will be noted to the user before it executes the final order.
Coinberry has very generous referral programs. A user will be rewarded with $50 for each new referred user that trades over $50 on the exchange. The referred user will also earn $50 once that threshold is met. This referral program has no cap and offers additional incentives along the way for referring more people.
Coinberry also has an affiliate program for referring new users. You earn 50% of the spread for every trade made by someone you referred to Coinberry. This also has no cap for earning potential.
Coinberry’s trust rating
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 was founded in 2017 and has not experienced any hacks or data leaks to date.
Coinberry’s cold storage custodian Gemini Trust Company, LLC is subject to the New York Department of Financial Services cybersecurity regulations. It is the first cryptocurrency exchange to complete SOC 1 Type 2 and SOC Type 2 examinations and receive an ISO 27001 certification.
Coinberry undergoes annual third-party audits and is fully regulated by FINTRAC.
Coinberry uses the third-party digital asset custodian Gemini Trust Company, LLC to manage $200 million in insurance coverage.
Signing up on Coinberry
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.
Step 1
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.
Step 2 (KYC)
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.
Step 3
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.
Step 4
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.
Step 5
That’s it. Your account is ready to be funded and you can start trading.
Compare Coinberry against other exchanges
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Frequently asked questions about Coinberry
Coinberry does not explicitly restrict users in certain countries, but warns all users that it's their responsibility to ensure they comply with all appropriate laws and regulations around use of cryptocurrency.
Coinberry has 2 founders, Andrei Poliakov and Evan Kuhn. Andrei Poliakov serves as the CEO.
Yes. You can download the Coinberry app for iOS or Android.
Coinberry uses a third party verification service. Personal information you supply will be matched to other information such as your credit report and other third party sources.
Yes, as much as a centralized exchange can be trusted. Coinberry is the first pure-play crypto trading platform in Canada to be fully registered with the OSC. It was registered with FINTRAC before it was an industry requirement, and complies with all KYC and AML reporting obligations. Coinberry implements industry-standard protocols for cold storage assets while all CAD assets are stored with Canadian banking partners.
You can contact Coinberry support by phone, email or submitting a ticket through the website.
It depends on what you are looking for in an exchange. Coinbase is the largest cryptocurrency exchange in North America, compared to Coinberry which is only available in Canada. Coinbase has a larger selection of coins and earning protocols, but higher fees attached to them.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Iain Taylor is a cryptocurrency writer for Finder. Iain has been involved in cryptocurrency since the end of 2020. He completed a study on Bitcoin, blockchain technology and cryptocurrencies at Dalhousie in 2021.
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