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Review: CoinSmart cryptocurrency exchange

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Easily buy, sell and trade Bitcoin and other cryptocurrencies on this Canadian crypto exchange.

  • Good for instant verification and competitive commissions
  • Not so great for its limited selection and fiat withdrawal fees

1

Fiat currencies

10

Cryptocurrencies

Details

Product Name CoinSmart Cryptocurrency Exchange
Fiat Currencies CAD
Cryptocurrencies BTC, ETH, LTC, XRP, XLM, USDT, EOS, NEO, BCH, ADA
Deposit Methods Credit card
Debit card
Interac e-Transfer
Bank Wire
Bank Draft
Trading Fee 0.2-0.4%
Deposit Fees Interac e-Transfer: 0% on ≥$2000+, 1.5% on $100-$1999
Bank Wire: 0%
Bank Draft: 0%
Credit / Debit Cards: up to 6%
Withdrawal Fees Electronic Funds Transfer: 1% ($15 minimum)
Bank Wire: 1% ($15 minimum)
Cryptocurrency: Fees vary
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.
Coinsmart Coinsmart

Get CAD$20 sign-up bonus in BTC

Get a $20 bonus in BTC when you open an account and deposit at least CAD$100. T&Cs apply.

Last verified

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: CAD
  • Supported cryptocurrencies: Approximately 10 cryptocurrencies
  • BTC
  • ETH
  • XRP
  • BCH
  • EOS
  • LTC
  • ADA
  • XLM
  • NEO
  • USDT

Which payments methods are accepted?

  • Credit card
  • Debit card
  • Interac e-Transfer
  • Bank Wire
  • Bank Draft
Go to CoinSmart's website

What’s it like to use CoinSmart?

Fees and limits

The fees below are accurate as of 12 October 2020.

Platform trading fees

Trade typeCommission fee
Trades involving fiat currency or Bitcoin0.2%
Trades between two cryptocurrencies other than Bitcoin0.4%

Deposit and withdrawal fees

Deposit fees
Deposit methodFeeLimits
Interac e-Transfer0% on deposits of $2,000 or more

1.5% on deposits under $2,000

$100 min

$3,000 max

Bank wire0%$10,000 min

$5 million max

Bank draft0%$500 min

$5,000 max

Credit/debit cardUp to 6%$100 min

$5,000 max

Withdrawal fees
Withdrawal methodFee
Electronic funds transfer1% ($15 minimum)
Bank wire1% ($15 minimum)
CryptocurrencyBlockchain fees apply

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Same day

Debit and credit card deposits are instant, while all other deposit methods are received on the same day.

Withdrawals

Clock icon for transfer speed

1-5 days

Cryptocurrency withdrawals are sent immediately and should arrive within minutes, while fiat withdrawals can take up to five business days.

Is CoinSmart safe to use?

  • Regulation. CoinSmart is registered with FINTRAC as a Money Services Business (registration no. M18755033) for activities including dealing in virtual currencies.
  • Verification process. Verification is required before you can begin trading. This involves providing proof of identity and other details in line with anti-money laundering laws. CoinSmart offers same-day verification.
  • Security features. CoinSmart says it follows industry-standard security practices such as keeping the bulk of user funds in cold storage and offering optional two-factor authentication. Additionally, it says it’s backed by Canadian bank Luminus Financial, which ensures fiat currency on the exchange is held in Canada.

How do I create an account at CoinSmart?

Go to CoinSmart's website
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What else do I need to know about CoinSmart?

CoinSmart was founded in 2018 with the goal of making cryptocurrency purchases simpler, safer and smarter. It has a strong emphasis on ease of use, transparency and cryptocurrency education.

CoinSmart is headquartered in Ontario and focused solely on serving Canadian citizens and residents.

In a nutshell

Pros

  • Free deposit methods available
  • Competitive trading fees
  • Same-day sign-up, verification and deposits
  • 24/7 customer support

Cons

  • Fees for fiat currency withdrawals
  • Limited cryptocurrency selection
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Compare CoinSmart against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer
CAD

7
cryptocurrencies

Get a $20 bonus when you open an account and deposit at least CAD$250. T&Cs apply.
At this Canada-based cryptocurrency exchange, you can fund your account in CAD via Interac eTransfer and bank wire.
CoinSmart Cryptocurrency Exchange
Credit card, Debit card, Interac e-Transfer, Bank Wire, Bank Draft
CAD

10
cryptocurrencies

Get a $20 bonus in BTC when you open an account and deposit at least CAD$100. T&Cs apply.
Buy and sell cryptocurrency quickly and easily, with instant verification and 24/7 customer support, on this Canadian exchange.
Coinberry Cryptocurrency Exchange
Credit card, Debit card, Interac e-Transfer, Wire transfer
CAD

6
cryptocurrencies

Get a $20 bonus when you buy or sell at least CAD$50 in digital currency. T&Cs apply.
Buy and sell cryptocurrency with Canadian dollars on this beginner-friendly Canadian exchange.
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Frequently asked questions

Go to CoinSmart's website
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.
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