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Category: Forex Trading

Forex Trading

Coinberry Reviews, Trading Fees & Cryptos

Is better suited to most Canadians because it provides both beginner and advanced trading options. It is a top choice because of its simple user interface, low trading fees, and reputation as Canada’s most reliable and secure exchange. The platform applied dynamic fees for crypto withdrawals, enabling them to observe the blockchain and change their mining fees depending on the network activity. Coinberry applies mining/network fees for crypto asset withdrawals, displaying them in the order preview before a withdrawal is completed.

Proof of address and selfie verification may also be required. If manual verification is required, you may need to upload a government-issued ID (e.g., drivers’ license or passport.

In addition to Coinberry, you can also buy and sell crypto using platforms like Coinsmart, Netcoins, and Wealthsimple Crypto. It supports popular coins like Bitcoin, Ethereum, Stellar, Ripple, Cardano, and several others. This situation won’t improve if we choose to blindly trust our exchanges, as they are holding scarce money that can’t be restored if stolen. When you deal with Coinbase, you must be absolutely certain that the coinberry review exchange is able to let you withdraw the amount of Bitcoins you bought and hold in their custodial wallet. Back in May of 2022, when Coinbase released their Q1 financials and reported $430M in losses, many wondered what sort of rights customers had to the crypto on deposit. Coinbase’s earnings report for March 2022, states that $256 billion in both fiat currencies and cryptocurrencies is being held on behalf of its customers.

They demanded that 10% of the money I was trying to recover be deposited to transfer my money to my bank. It has been over 2 weeks and nothing but reverification demands but no idea what they want. I did some trading myself and didn’t see a single fee while using the website, the only thing that I noticed was the spread when comparing crypto exchanges fees. Paying for a spread is nothing compared to some of the percentage-based fees you would be paying on other platforms, but the lack of assets sort of balances that out. Bitbuy is known as the most trusted and secure exchange in Canada, and part of the reason is that they have partnered with BitGo Trust Company for cold storage of 99% of their crypto assets offline. BitGo Trust Company is the world’s first qualified custodian, purpose-built for storing digital assets.

  • This is slightly underwhelming as most of the competition has at least 5 coins for their traders to choose from.
  • Since his arrival in Canada, he’s built his credit score from nothing.
  • The coins you can find on Coinberry are BTC, ETH, BCH, LTC, XLM, ADA, DOGE, DOT, CRV, KNC, SNX, YFI, AAVE, BAL, UNI, BAT, COMP and LINK.
  • You may also enjoy our article on the best crypto exchanges for Canadians, which you can read here.
  • It offers over 35 different cryptocurrencies and several valuable tools for crypto investors to streamline the trading process.
  • Coinbase has demonstrated many times that it only cares about it’s own profit and not about the larger Bitcoin ecosystem.

Thankfully, we did some digging and found out the company is dedicated to effective fraud detection, reporting, and user onboarding. Once you’ve successfully set up your account, you can choose to fund it with CAD or crypto before buying crypto assets. That said, the purchase amounts and frequencies can be set to daily, weekly, or monthly and easily changed. Once you’ve set up Autopilot, you can invest in cryptocurrency without having to monitor every market fluctuation. Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you.

The safest way to store your cryptocurrency is in your own personal wallet . Coinberry is perfect for beginners because it has a very intuitive interface that is easy to use. Even someone that has no idea about crypto will be able to figure out how to navigate around the platform.

Coinberry is a popular Canadian online exchange platform that allows users to buy and sell Bitcoin, Ether, and a variety of other popular cryptocurrencies. Bitbuy is the winner of this comparison because of its beginner-friendly interface, low trading fees, market trading platform, as well as being the most secure and trusted exchange in Canada. Bitbuy prides itself on being the most secure and trusted Canadian crypto exchange with servers secured across multiple world class cloud providers and disaster recovery locations. Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is always secure. I deposited 55000CAD via wire to my Coinberry account, they received my funds conveniently from my Biggar bank but refused to add the money to my account.

You will still have to pay an arbitrary miners fee on the withdrawal of crypto. Of course, it is important to point out that there may be fees that your own financial institution will charge on the transaction. This is especially true if you choose to use your credit card to fund your account. Users have the option to withdraw cryptocurrency from their Coinberry account. Popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, and XRP are all accepted on the exchange. Coinberry is the first and foremost cryptocurrency platform that has collaborated with local Canadian governments as of 2019.

However, this may not be the optimal solution as there are pretty low limits on card funding. You also have to consider that card payments are much more expensive than other forms as third-party processors as well as your bank may charge you unreasonable fees. If you would prefer to fund your account with your fiat then you have quite a few options. These include through Interac e-Transfer, Credit Card and Wire Transfer. Below are the limits as well as processing times for these respective methods. Coinberry is fully compliant with Anti-Money-Laundering and Know-Your Customer requirements set by FINTRAC.

Why Coinberry

Shakepay is another good alternative, but you can only buy and sell bitcoin and ethereum on their platform. The main downside to Coinberry is that their spread is steep, at up to 2.5% per trade. However, they make up for this by not charging fees when you fund your account. If you’re new to crypto trading, I recommend that you check out Coinberry when exploring your options. No fees give them an advantage on price over several other large crypto trading platforms. As a trader, you have peace of mind not having to worry about fees for moving fiat currency in and out of your account.

is coinberry legit

CoinSmart’s trading fees are just 0.2% and they offer the ability to trade crypto to crypto pairs without having to sell to Bitcoin or Ethereum first. Coinberry’s iOS app has a 4.5-star rating with 5,000 reviews. Some people have complained about Coinberry taking too long to withdraw funds, having a slow verification process and being unable to login to the app.

Coinberry is a very beginner-friendly platform and you don’t need any previous experience to start. The simplicity of investing in coins and the safety features make it a great hub for crypto investors to stock up on the biggest crypto projects on the market. Coinberry is a fully insured and FINTRAC regulated cryptocurrency exchange based in Canada with the main office located at 100 Designers Walk Lane, Toronto, ON, M5R 1K6.

Coinberry Customer support

Users can acquire cryptocurrencies using a variety of financing ways, such as wire transfer, e-transfer, and debit and credit card choices. Coinberry is a fantastic choice for making initial crypto buys in Canada for individuals who want to utilize Canadian dollars without worrying about conversion rates. Users submit their account information, and Coinberry’s KYC/AML partners confirm their identity. These are often credit reporting organizations with information about the user’s financial history.

is coinberry legit

Coinberry and any crypto exchange can track where you have received and sent crypto since crypto trades are recorded on the blockchain and are public. Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual. If choosing Interac, you will need to login to your online banking and send an e-transfer. https://broker-review.org/ Once you’ve gone through these steps, you will need to answer eight questions related to your finances, employment and investment intentions. Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things. The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote.

Deposit and Withdrawal Methods & Coinberry Fees

There are ZERO fees charged for withdrawing CAD by e-Transfer or Wire transfer. AutoPilot is a feature on Coinberry that allows you to automatically make regular purchases of crypto. This helps you to reduce the effect of price volatility by averaging out the cost of buying crypto. You can select the amount you want to purchase, and the frequency, to suit your personal needs.

is coinberry legit

The minimum deposit is $50, the minimum withdrawal limit is $100, and the maximum withdrawal limit is $50.000 for fiat withdrawals. They also use segregated banking, meaning that the company funds and customers’ funds are kept in individual accounts. If the company ever has its assets frozen, customers wouldn’t have to worry because it wouldn’t impact their accounts in any way. With that being said, Coinberry is an incredibly safe and secure option for any Canadians interested in crypto.

Step 3: Select ‘Close Account’

After managing to find its way onto the top 15 cryptocurrency exchanges list from Hardbacon, I felt like it was only right to see what makes this platform stand out. The sign-up process seemed relatively easy and there were plenty of stellar reviews for Coinberry. The vast number of crypto assets available on Coinberry is also a nice touch and is worth considering for both experienced and novice traders. Most crypto traders feel that desktops give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. However, not all crypto investors require desktops for their trading.

When trading on Coinberry you can rest assured that you are using a very safe exchange and your funds a fully backed up. Easiest and fastest way to buy cryptocurrency with fiat through card payments, bank transfers, or e-wallets. This status is earned only by the safest and most trusted trading platforms with a proven track record of being safe.

Our main concerns are the potentially high trade fees and the lack of more advanced tools aimed at expert traders. Coinberry is a Canadian cryptocurrency trading platform based in Toronto. It has been in operation since 2017, serving more than 220,000 Canadians and reaching a trading volume of over $1 billion. It offers over 35 different cryptocurrencies and several valuable tools for crypto investors to streamline the trading process. Bitbuy and Coinberry are two of the top cryptocurrency exchanges in Canada so which one is better for you to use, and how can you make up your mind?

We apologize for this inconvenience and we will be sure to update this review with a picture of the trading view as soon as we have received it. Wallets The best places to hold your crypto; securely, anymously, easily. Merchants We have gathered some of the best merchants that accept crypto in one place.NFT Markets All marketplaces for NFTs in one, easy to compare, list. Coinberry has an auto-buy feature, and they also have the unique ability to send invoices in cryptocurrency, which is a nice perk for business owners who are also crypto-enthusiasts. Of the other Canadian options for buying cryptocurrency, like Coinsquare, Shakepay, Newton, and Bitbuy.

This trusted platform with outstanding security features is a go-to place for thousands of Canadians when it comes to cryptocurrency investing. Coinberry is one of the safest options for Canadians because of more than just their stellar reputation. This means that they’ve gone through an abundance of requirement and certification checks before being able to receive money from clients.

You can buy crypto with an Interac e-Transfer or bank transfer, but not credit or debit cards. Coinberry is a Canadian-based cryptocurrency exchange, which is similar to trading platforms like Newton and Shakepay. They’ve been around since 2017 and feature 0% funding fees, a claim, not all crypto exchanges can make. In this Coinberry review, I’ll fill you in on all of their features, and let you know how they compare to the top cryptocurrency trading platforms. Coinberry is a great exchange to use for first time cryptocurrency investors who reside in Canada. It might be the best cryptocurrency exchange in Canada for beginners, although fans of Newton would have something to say about that.

Forex Trading

Shakepay Review: Pros, Cons and How it Compares

Newton is great for beginners and is available on all devices. Get a $25 bonus after trading your first $100 worth of crypto. Shakepay has a referral program that rewards you whenever someone joins your referral link. Cryptocurrency exchanges are often targeted by hackers and other malign actors and there’s nothing like 100% safety online.

EToro – One of the most trustworthy crypto platform out there (if you live in the United States you get a bonus up to 12% when you deposit – join HERE). Responsive Support – Shakepay takes great pride in the support they offer. Dubbed ‘responsive support’, they promise to resolve customer issues within hours. Upon providing these details, you will be required to verify the email address that you provided.

Since Shakepay doesn’t have an API, users must download and upload CSV files from their websites. By selecting the Buy or Sell button, you can sell Bitcoin or Ethereum once you have them in your Shakepay account. Due to government oversight, Shakepay should be considered one of the most secure exchanges in use. Shakepay has introduced a unique referral program which gives $30 to you and your referred contact. However, your referral must buy a BTC or ETH worth $100 to claim Shakepay rewards. Setting up notifications is the best way to receive notifications when Bitcoin or Ethereum reaches a specified price.

Shakepay is the fastest and easiest way to buy bitcoin in Canada and i’ve used them since they were created and have never had a problem, and I use them a lot. So, if you are looking for the best PayPal cryptocurrency exchange, or you are keen to find an exchange that accepts Skrill or Neteller, you’ll need to look elsewhere for now. By clicking on the ‘Add Funds’ button, you can either transfer crypto from your own wallet, or you can opt to deposit in Canadian dollars , which is the only accepted fiat currency. At this point you will receive an email confirming that your account is open and when you next login, you’ll be asked to provide verification. Shakepay keeps some assets in hot storage to use for everyday liquidity and the rest is kept in cold storage. Shakepay claims that support tickets can be answered within hours, even on weekends.

Once you’re in your account, you’ll see your wallets and under Transaction History, there will be a notice to verify your account. Other Shakepay features include basic charting, simple purchasing, and a slick mobile app. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency.

shakepay legit

It does not affect the objectivity of our evaluations or reviews. However, the difference between the buy and sell orders placed through the shakepay review platform is where Shakepay makes its money. As a result, the effective fee rate per trade also referred to as a spread fee, is 1.75%.

Which Political Party is Most Crypto Friendly in Canada?

Like many reviews and our research, we notice that Shakepay will soon release the visa card that will reward users with cashback in the form of Bitcoin for every transaction made. It appears to be a prepaid Visa card that will not affect the credit score, and you may sign up for the waitlist via the app. If the user does not want to wait for the Shakepay Visa, the MogoCard is a good alternative that will fund your account with 2% cashback in Bitcoin. If you compare it with other Cryptocurrency exchange websites, Shakepay is relatively hassle-free to trade on.

shakepay legit

Buy Bitcoin & Ethereum in minutes with Interac E-Transfer. Ranking, remember that your website is your online business card. It could be anything from your online management system, to HTTPS connection. When we look into websites, we search for professional details that reveal key information about a business – how they sell, poor customer service, etc. For example, if we analyze a brewery page, we don’t rate the beer taste, but rather their website and how they sell the beer. Meanwhile, feel free to share your experience in the comments, whether good or bad, so we can adjust the rating.

The $5 Interac minimum is a huge plus because a lot of other crypto exchanges will require at least a $50 minimum, sometimes $100. When you look for a platform for exchange or trading Bitcoin or any other currencies, you will come across many options. Shakepay exists as a Canadian platform that enables people to purchase, sell, and store BTC and ETH through their smartphones and computers.

Payments – slightly limited options for users

With no transaction fees and other benefits, Shakepay is pretty promising to look forward to for investors to trade. Shakepay offers digital currencies for sale directly to its customers. When customers buy bitcoin on Shakepay, they buy directly from the platform.

Koinly – It is a leading cryptocurrency tax calculator. One thing you may want to double-check is their buy-sell spread; while it’s usually fair and reasonable, it tends to vary at times so you may want to time your purchases. Speed – It takes just minutes to set up an account and purchase your first bitcoins or ETHs. Coin purchases are confirmed in under 5 minutes, while conversions between Bitcoin and Ethereum are instant.

Shakepay is a Canadian crypto exchange funded in 2015, offering mobile app and web-based platform for users to buy and sell digital currencies. Shakepay’s fees are pretty good in comparison to other exchanges. It is “commission-free” and offers free Canadian dollar deposits and withdrawals and free crypto withdrawals. Mining fees are covered by Shakepay, which is a rare benefit that most exchanges don’t provide. Whether the user has a query regarding the app, prices, crypto trading, or any other services, the team will help. Users can get real-time live chat with the support team.

Ash mentions that she “invests” with a site called “elonpump.ca”. These cases studies are intended as educational content. Built ideally for mobile, the platform allows users to send and request CAD , BTC and ETH directly on the APP to and from other Shakepay users. Buy in minutes using Interac E-Transfer and cash out to your bank account instantly.

  • Shakepay only supports Bitcoin and Ethereum, and Canada is the only country that supports currencies.
  • Shakepay makes money on the spread which is the difference between the price you can buy and sell at.
  • All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
  • You can also sell your bitcoin or Ethereum assets for Canadian dollars.
  • Shakepay usually makes its money through spreads that exist between the buy and sell orders that happen on the platform.

Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. Low trading fees at 0.20% and multiple fiat currencies supported. While Shakepay says it keeps a majority of digital assets in cold https://forex-reviews.org/ storage, you should consider moving your BTC to a cold wallet you have control over. If you plan on trading currency pairs, you can buy Bitcoin or Ethereum on Shakepay and transfer them to your wallet on another exchange if it makes sense fees-wise.

During signing in, a phone number will be used to verify the identity. The user may also refer to friends, and if they spend $100, the user will get $10. Users can use the unique referral link that may be found in their account’s settings. The Shakepay withdrawal process is instant; however, the process may take up to 4 days in some cases. Shakepay only supports ethereum on the Ethereum network and bitcoin on the Bitcoin network. Let’s compare Shakepay to its rival crypto exchange – Newton, to find out how it stands out different.

How to identify scams

Shakepay can be accessed via one’s smartphone or desktop computer. Those using desktop computers can access the platform while using any operating system, for which they can rely on an up to date web browser. The Shakepay app is available on iOS and Google Play stores.

Shakepay allows you to earn Bitcoin every day by shaking your phone. Currently, Shakepay only offers Bitcoin and Ethereum. These two cryptocurrencies are a good start for new crypto investors though. This crypto exchange reviews, for Canadian residents, as it provides the Shakepay app to trade only Bitcoin and Ethereum.

shakepay legit

After that, the user must finish a two-step verification process by inputting the code sent to their phone. The user must send a selfie with their passport or other forms of identification in hand as well as the current date as part of this process. Our detailed Shakepay review 2023, along with platform’s users reviews and customer complaints will help you determine if this is the right platform for you. For example, when a customer purchases ETH on Shakepay, the exchange sells it to them. In October 2020, Shakepay launched a P2P payment system out of beta that allows Shakepay users to instantly exchange CAD, BTC, and ETH — with no fees.

My experience using shakepay was awful

An e-statement of your bank, card, loan, or mortgage account. The submission of the telephone number is usually followed by the completion of the 2-step verification, which is based on you entering the code that was sent to your phone. Recruiter requests that you buy or exchange crypto on their behalf. Be particularly skeptical of jobs asking you to open a Shakepay account. Shakepay would never put a hold on your money in exchange for a deposit. ShakingSats is a bonus feature of the app that you get access to after you successfully refer a new customer to Shakepay.

Financial safety is important, so we wanted to break down the five most common scams and how to spot them.

The Shakepay system would automatically convert bitcoins into fiat to complete the transaction. Some cryptocurrency exchanges offer a number of different options for fiat currency purchases and others are a lot more limited in this respect. To find out if Shakepay offers exactly what you are looking for, check out our in-depth Shakepay review and ratings guide. In this review, we’ll first assess all of the aspects we feel are important for a cryptocurrency exchange, such as security, fees, and the assets available. We’ll explore some user reviews, ask some crucial questions and finish up by giving you our honest verdict of Shakepay.