| Subscription fee<\/td> | $0<\/td> | $4 per month (or $0 if deposit conditions are met)<\/td> | $12\/month billed yearly or $18 billed monthly<\/td> | $14.75 per month<\/span><\/td><\/tr>| Crypto trading fee<\/td> | 1.5%<\/td> | 1%<\/td> | 1%<\/td> | 0.5%<\/td><\/tr><\/tbody><\/table> Finally, KOHO does not charge any deposit or withdrawal fees, but a third-party operator fee may apply if you withdraw cash at an ATM.<\/p> KOHO Crypto deposit methods<\/h3>You can deposit funds into your KOHO account in the following ways:<\/p> - Interac e-Transfer<\/li>
- Direct deposit<\/li>
- Linked bank account transfer<\/li>
- Canada Post cash deposit<\/li>
- Bitcoin transfer<\/li><\/ul>
Benefits and drawbacks of KOHO Crypto<\/h3>Pros<\/h4>- Trade on KOHO.<\/strong> If you\u2019re already a KOHO customer, you don\u2019t need to go through the hassle of downloading a new app and opening an account on a crypto exchange. This allows for the instant settlement of your crypto trades.<\/li>
- No FX costs.<\/strong> KOHO lets you buy crypto directly with Canadian dollars, so you don\u2019t need to factor the cost of converting to USD into your calculations.<\/li>
- $1 minimum.<\/strong> You can start trading crypto with as little as $1.<\/li>
- Recurring purchases.<\/strong> You can set up recurring crypto buy orders to adopt a dollar-cost averaging strategy for your crypto investing.<\/li>
- Regulated platform.<\/strong> Crypto trading is handled through KOHO\u2019s partnership with Ndax, an established and regulated Canadian crypto exchange.<\/li>
- All-in-one app.<\/strong> You can buy crypto with the balance in your KOHO spending account, and you get the convenience of managing your crypto alongside all your other KOHO products in one app.<\/li>
- Safe and secure storage.<\/strong> Your KOHO Crypto assets are held with Ndax, which stores the majority of client assets in cold storage with qualified custodial service providers and maintains insurance protection.<\/li><\/ul>
Cons<\/h4>- Limited selection of cryptocurrencies.<\/strong> Other platforms support a much wider range of cryptos than the 20+ digital assets you can access with KOHO Crypto.<\/li>
- Fees of up to 1.5%<\/strong>. Non-members pay trading fees of 1.5%. If you meet the direct deposit requirement needed to have the monthly fee on a KOHO Essential plan waived, you will still pay a 1% trading fee.<\/li>
- Monthly fee may apply.<\/strong> If you want the lowest possible trading fees of 0.5%, you\u2019ll need to fork out $14.75 for the Everything plan. You\u2019ll need to work out if the low fee and other perks of the Everything plan, like increased cashback and interest-earning power, are worth the cost.<\/li>
- Staking is not yet available.<\/strong> KOHO Crypto does not yet allow you to stake any coins or tokens.<\/li>
- Other features are still coming soon.<\/strong> KOHO plans to launch other platform features, such as crypto cashback and support for more coins and tokens, in the future.<\/li>
- No crypto withdrawals.<\/strong> You currently cannot withdraw crypto from your KOHO account to an external wallet\u2014you will need to convert it to CAD before cashing out.<\/li>
- Bitcoin deposits only.<\/strong> As it stands, the only cryptocurrency you can deposit into your KOHO account is Bitcoin.<\/li><\/ul>
What do KOHO reviews say?<\/h3>KOHO reviews are largely positive, with the fintech boasting an average score of 4.5\/5 from over 1,900 reviews on Trustpilot. Customers praise KOHO for its easy-to-use app and the wide range of perks and features it offers. On the negative side, reviewers commonly complain about poor customer service.<\/p> As KOHO Crypto is such a new product offering, it hasn\u2019t garnered many customer reviews so far. But several customers do mention the addition of crypto trading as a welcome feature in the KOHO app.<\/p> Using the KOHO app<\/h3>The KOHO app offers a clean and intuitive user interface. It\u2019s simple and straightforward to use right from the start, with all your KOHO products easily accessible. Crypto trading has been seamlessly integrated into the app, so you don\u2019t need to be an experienced crypto enthusiast to start trading.<\/p> The user-friendliness of the KOHO app is reflected in its high average review scores across Google Play and Apple\u2019s App Store.<\/p> KOHO app reviews<\/h4>| Google Play app reviews<\/td> | \n\n\n\n\n\n\n\n\n \n \n4.7<\/strong> \u2013 \n\u2605\u2605\u2605\u2605\u2605<\/span>
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