Coinsquare review
- Fiat currencies
- 5
- Supported assets
- 60
Our verdict
Coinsquare is a safe and user-friendly option for Canadians who want to buy crypto, but you’ll find lower fees and more cryptos elsewhere.
Coinsquare is a legit and regulated Canadian crypto exchange. You can use Coinsquare to trade over 60 cryptos on an easy-to-use platform, with free deposit and withdrawal options available as well as a separate platform for advanced traders.
Coinsquare excels thanks to its streamlined interface that makes it easy to buy crypto with CAD. But if you want access to the lowest possible fees and a wider range of cryptocurrencies, you’ll need to consider other options.
Best for: Anyone who wants to buy and sell crypto on a user-friendly Canadian exchange.
Pros
-
Easy-to-use site and app
-
Free deposit and withdrawal options
-
Regulated Canadian exchange
-
Transparent fee structure
Cons
-
Other platforms support a wider range of cryptos
-
Other platforms have lower fees
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Direct bank deposit and wire transfer withdrawals incur fees
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Some negative customer reviews
Details
Product details
| Product Name | Coinsquare |
| Fiat Currencies | CAD, USD, EUR, GBP, CHF |
| Cryptocurrencies | BTC, ETH, XRP, ADA, DAI, DOT, SOL, DOGE, ATOM and more & 51 more |
| Deposit Methods |
Interac e-Transfer Wire transfer Wealth Wire Rushed Wire Direct Bank Deposit |
| Trading Fee | Maker: 0.05% – 0.50%Taker: 0.14% – 0.50% |
| Deposit Fees |
Interac e-Transfer request: 0% Wire transfer: 0% Cryptocurrency: 0% |
| Withdrawal Fees |
Interac e-Transfer request: 0% Wire transfer: 1.5% Direct Bank Deposit: 1.5% Cryptocurrency: Varies |
What is Coinsquare?
Coinsquare is a crypto exchange where Canadians can buy and sell cryptocurrency. Founded in 2014, it merged with WonderFi and CoinSmart in 2023.
You can create an account with Coinsquare and start trading crypto in a matter of minutes. You also have the option to trade online or via a user-friendly mobile app, and Coinsquare offers three trading solutions for Canadian investors:
- Coinsquare Trade is Coinsquare’s platform for beginners or anyone looking for a quick and easy way to buy and sell crypto. It supports over 50 cryptocurrencies, offers free deposits and withdrawals, and provides access to in-app support.
- Coinsquare Pro is a platform for advanced traders. It provides features like a live order book, depth charts, advanced order types and lower trading fees.
- Coinsquare Wealth is the exchange’s OTC trading desk. Designed for users who want to place large trades, it provides access to CIRO-registered Investment Representatives. You also have the option to trade crypto-to-crypto or with CAD and USD.
Coinsquare features
Coinsquare offers the following features to users in Canada:
- Trade 6060+ cryptos. Coinsquare provides access to 60+ cryptocurrencies and over 3,000 trading pairs.
- Buy crypto with CAD. Coinsquare lets you buy crypto with Canadian dollars, and support for Interac e-Transfers means you can fund your account and start trading in a matter of minutes.
- Staking. You can stake 9 cryptos on Coinsquare to earn rewards, including Ethereum (ETH), Solana (SOL), Cosmos (ATOM) and Polkadot (DOT).
- Mobile trading. You can trade with Coinsquare online or by downloading an Android or iOS mobile app.
- API. Eligible users can access Coinsquare’s API to interact with the Coinsimple Trade platform and put advanced trading strategies into action.
What cryptos can I trade on Coinsquare?
Coinsquare supports a wide range of cryptos not only for trading but also for depositing and funding your account. It offers the following popular cryptocurrencies:
Popular crypto assets on Coinsquare
- BTC
- ETH
- XRP
- ADA
- DAI
- DOT
- SOL
- DOGE
- ATOM
- more
Popular assets Coinsquare does NOT support
- USDT
- TRX
Coinsquare fees
Trading fees
Coinsquare fees vary depending on whether you use Coinsquare Trade or Coinsquare Pro.
When you place an order with Coinsquare Trade, a spread of between 0.5% - 1.85% will apply. However, in times of low liquidity or adverse market conditions, that spread may be as high as 3.85%.
Coinsquare Pro charges a maker fee of 0.50% and a taker fee of 0.50%.
Deposit and withdrawal fees
There are no deposit fees to worry about, and e-Transfer withdrawals are free. But if you withdraw via a direct bank deposit or wire transfer, you’ll be charged a fee of 1.5%
Staking fees
You’ll need to pay a fee ranging from 25% to 30% of any staking rewards you earn. The exact fee varies depending on the crypto you stake.
Coinsquare payment methods
You can deposit funds to your Coinsquare account via a cryptocurrency transfer or a CAD deposit. Key details for CAD deposits are shown in the table below.
- Interac e-Transfer request: 0%
- Wire transfer: 0%
- Cryptocurrency: 0%
| CAD deposits | Processing time | Minimum | Maximum |
|---|---|---|---|
| Interac e-Transfer request | 0 – 30 minutes | $10 | $15,000 |
| Wire transfer | 0 – 2 business days | $10,000 | Unlimited |
How do I withdraw money from Coinsquare?
You can withdraw money from your Coinsquare account via Interac e-Transfer, direct bank deposit or wire transfer. Check fees, limits and processing times in the table below.
- Interac e-Transfer request: 0%
- Wire transfer: 1.5%
- Direct Bank Deposit: 1.5%
- Cryptocurrency: Varies
| CAD withdrawals | Processing time | Minimum | Maximum |
|---|---|---|---|
| Interac e-Transfer | Within 24 hours | $20 | $2,000 |
| Direct bank deposit | 0 – 3 business days | $20 | $100,000 |
| Wire transfer | 0 – 2 business days | $10,000 | Unlimited |
Pros and cons of Coinsquare
Pros
- Regulated Canadian exchange. Coinsquare was founded in 2014, is headquartered in Toronto and is regulated by the Canadian Investment Regulatory Organization (CIRO).
- Easy to use. Coinsquare offers a user-friendly interface that makes it easy for new users to start buying and selling crypto.
- Choice of platforms. Choose from Coinsquare Trade for fast and easy purchases, or opt for Pro to access advanced trading features.
- Free deposits. It’s free to deposit funds into your Coinsquare account, while e-Transfer withdrawals are also free.
Cons
- Withdrawal delays. Coinsquare imposes a 72-hour withdrawal restriction after you make your first CAD deposit or change your password. A 7-day wait period applies if you change your email address or disable two-factor authentication.
- Limited number of cryptos. Compared to some other exchanges, Coinsquare only supports a relatively small number of cryptocurrencies.
- Watch out for fees. While we like the transparency of Coinsquare’s fee structure, you’ll find lower fees on other trading platforms.
- No phone support. If you have an urgent problem with your account, you can’t contact Coinsquare by phone.
Is Coinsquare legal in Canada?
Yes, Coinsquare is entirely legal in Canada. The platform is a member of the Canadian Investment Regulatory Organization (CIRO) and features on the Canadian Securities Administrators’ list of crypto platforms that are authorized to do business with Canadians. It is also registered as a Money Services Business with FINTRAC.
Is Coinsquare safe to use?
Coinsquare has a reputation as a safe and secure trading platform. As it’s a CIRO member, any cash held in your Coinsquare account is insured against insolvency to the tune of up to $1 million by the Canadian Investor Protection Fund (CIPF).
Any assets you have are held in trust with two licensed custodians—BitGo Trust Company and Coinbase Custody—who have a combined US$680 million in insurance coverage. Coinsquare also has its own Vault Risk insurance, and it stores client assets separately to its operating funds in cold storage.
Other protective measures include a dedicated security team, ongoing threat monitoring and two-factor authentication.
What do Coinsquare reviews have to say?
It depends on where you go for your reviews. App store reviews for the Coinsquare mobile app are generally positive, with users mentioning factors like its ease of use and support of fast crypto purchases.
It’s a different story on Trustpilot, where the platform has an average rating of 1.3/5. Reviewers mention issues such as delayed withdrawals, having their account locked and poor customer service.
| Site | Details |
|---|---|
| Trustpilot | 1.3/5 based on 122 reviews |
| Apple App Store | 4.6/5 based on 5,300+ reviews |
| Google Play | 4.3/5 based on 2,300+ reviews |
Review data was last verified on 06 May 2026
How to buy crypto with Coinsquare
Ready to make your first crypto purchase with Coinsquare? Here’s what you need to do.
Step 1: Create an account
You can sign up for a Coinsquare account online or by downloading the app. You’ll need to provide your personal information and contact details, verify your email address and phone number, and provide proof of ID. In line with regulatory requirements, you will also need to provide details about your financial circumstances, investment experience and risk tolerance.
Step 2: Deposit funds
Next, you’ll need to deposit funds into your account so you can start trading. Choose from an e-Transfer, wire transfer or crypto deposit.
Step 3: Buy crypto
To place a buy order, tap “Trade” and then select the currency you’re buying with and the amount you want to pay. Select the crypto you want to buy, tap “Preview trade” to get a quote, then review all transaction details before confirming your trade.
Alternatives to Coinsquare
Still not sure whether Coinsquare is the right exchange for you? Check out these reputable alternatives.
Finder Score for crypto exchanges
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
Bottom line
Coinsquare is a solid option for Canadian crypto investors. It’s easy to use, has a transparent fee structure and has features to suit beginners as well as more advanced traders. But you can get cheaper fees elsewhere, so compare Coinsquare to a variety of other crypto exchanges before deciding if it’s right for you.
Frequently asked questions
Sources
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Tim Finder
Writer
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