Coinberry is one of Canada’s largest Cryptocurrency exchanges for Canadians to buy, sell and trade crypto on. Founded in 2017 by Andrei Poliakov and Evan Kuhn, Coinberry makes it easy for Canadians to deposit fiat and trade fiat into crypto.
With the payment methods of debit cards, wire transfers and Interac-Transfer, buying Crypto is streamlined for Canadians.
Let’s take a look in this article to see how Coinberry stacks up with other major exchanges in the world and how it all affects you.
How to use Coinberry
Sign up
- Sign up to Coinberry here! You’ll also be prompted to connect your phone number when you do. After that, you need to do KYC where you upload and verify identity. This is done on all exchanges so don’t worry!
- Then you’ll be able to set up your 2FA to keep hackers away.
- Now you’re ready to deposit funds to start trading!
Buy & sell crypto on Coinberry.
- To start buying or selling, you can purchase crypto with their different payment methods of your choice.
- Once you have funds in your account, head over to the marketplace and buy the coin you want.
- Congrats on your investment!
Is Coinberry Safe?
There are mandatory security features top global exchanges follow which provides the best security. Coinberry uses many of those practices such as offline cold storage wallets. This is key as what this means is your funds are stored offline – away from hackers and viruses. These cold storage wallets are also multi-signed, meaning internal executives are needed to be able to access your funds.
Coinberry is also tight on performing penetrative tests (pen tests) by hiring companies to try and hack them, so Coinberry will always know if they have any shortcomings.
On the user side of things, Coinberry allows you to set up your own 2 factor authentication (2FA) where you’ll need your phone number or Google Authenticator to sign in to your Coinberry account.
On top of which, the company Coinberry itself is formally registered with the Financial Transactions and Reports Analysis center or known as FINTRAC. This means Coinberry must follow all the anti-money laundering laws and perform Know Your Customer (KYC).
Coinberry.com Review and Fees Breakdown
Fiat currencies accepted:
To use Coinberry, you can deposit CAD and instantly start trading.
Cryptocurrencies accepted:
Coinberry has 6 cryptocurrencies listed. Currently, they have Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Stellar Lumens (XLM).
It might not be many coins offered to users, but Coinberry is great to instantly change your fiat into crypto. And with their fee structure which we’ll discuss below, Coinberry makes an excellent choice compared to competitors.
Coinberry’s fees
Coinberry’s fee structure is quite unique in the cryptocurrency space. Immediately what jumps out at you is the 0.5% trading fee they take.
But what makes Coinberry special is the 0% deposit and 0% withdrawal fees. What this means is Coinberry is one of the best platforms to quickly transfer funds in and out of your wallets. All of this makes up the 0.5% trading fee they take – and that’s only a bit higher than some other exchanges who also charge withdrawal fees.
Deposit and Withdrawal methods:
With Coinberry, you’re able to deposit with many payment methods but the best one is through Interac-eTransfers where you can almost instantly get your funds on the exchange to be traded.
You’re also able to withdraw easily by supplying an address to withdraw your crypto.
Security features:
Coinberry stores all the information on their users in Canadian based servers and never off-shore. Coinberry also uses third-party audits regularly to keep their security systems and protocols up to date with the latest practices.
This exchange focuses heavily on security so if that’s what you’re after, you won’t go wrong with Coinberry.
Regulation compliance:
Coinberry is FINTRAC registered and they were the first to partner up with the Candian Municipal governments for Bitcoin Tax processing. Since then, they have also partnered up with other government bodies in Canada.
Customer service:
Coinberry also offers excellent customer service with real agents you’re able to talk to on the phone if you have any problems.
If you prefer, you’re also able to shoot them an email to their friendly support team anytime and they’ll get back to you as soon as possible. Their social media accounts like Facebook, Twitter or Instagram can be another way to reach them if you wish.
Mobile functionality/mobile app:
If you want to be more mobile or quickly access your funds, then Coinberry has their app for both IOS and Android.
Once you download it, the User Interface of the Coinberry app is very modern and sleek looking, making it simple and intuitive to use.
The app does have features where the desktop website does not have. Those features are:
- Price chart display for the cryptocurrencies
- Ability to send funds to other accounts
Coinberry’s app is well made for ease of use for users!
History of Coinberry
Founded in 2017, Coinberry has quickly become a major force in the Canadian exchange scene – partnering with many official government bodies in Canada. In 2019, Coinberry officially partnered with the Town of Innisfil.
With these partnerships, they are the only exchanges in Canada to formally partner with governments. In 2020, Coinberry is now also working with the City of Richmond Hill.
The Verdict on Coinberry
While Coinberry has limited cryptocurrencies listed for trading, Coinberry shines in many areas to give peace of mind to investors.
Their fee structure is unique in the space – with zero withdrawal fees and Coinberry’s host of official government partnerships and regulations makes this exchange a very safe place to buy and sell crypto assets.
Coinberry also takes their security protocols very seriously, implementing many best security practices and standards of today’s global exchanges use.
You can start trading on Coinberry now by clicking here.