CoinSmart stock is also available on the Canadian exchange market, which provides additional liquidity and security. You can set up multi-factor authentication for logging in, funding your account, and transacting crypto assets. Additionally, CoinSmart uses cold storage to secure your assets. The merger comes during a challenging time for the crypto industry. After digital asset prices plummeted last year and numerous high-profile, unregulated exchanges collapsed, many retail investors were left holding the bag. To protect your coins from hackers, the company keeps most of them in cold wallets where they have no access to the internet.
You can use your CoinSmart wallet to store, buy, sell and trade cryptocurrencies. In general, it is a detailed interface and report center that allows you to track your progress and activity. The platform is also very user-friendly, making it an excellent choice for those who are new to cryptocurrency exchange. For crypto trading, the fees depend on the type of trading you are doing.
CoinSmart Referral Program
CoinSmart supports Interac, SEPA, wire transfers, and e-transfers as funding methods. For CAD, you can use Interac Money Request and Wire Transfer. In total, CoinSmart offers 16 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. We support train your key stakeholders and subject matter experts in understanding the specifics and the arising opportunities of digital products and assets.
For more details about what the platform offers regarding protection for your account, the risks you take when you trade, and their privacy terms, check the CoinSmart website. As we mentioned in our CoinSmart review, withdrawals are typically processed within 1-5 days of the request. Yes, CoinSmart is a legitimate cryptocurrency exchange platform with multiple regulatory licenses and certifications. Coinberry also has a simple and easy-to-use interface, which is ideal for newcomers to the game.
Withdrawal fees are usually the same regardless of the coin. It is entirely up to you to choose a method, depending on your preferences. This is one of the company’s most important selling points. It claims coinsmart review that all deposits are processed almost instantly, allowing you to start trading right away.
The reason behind the removal is that XRP is in the midst of a legal battle with the U.S. Securities and Exchange Commision (SEC). The SEC has filed a lawsuit against Ripple Labs Inc. (the creators if XRP) alleging the XRP is a security. If this allegation is true, then it poses a serious problem for crypto exchanges. U.S. crypto exchanges must comply with the SEC in order to legally operate. One rule they must follow is to not allow the trading of securities.
Level of CoinSmart’s core expertise applied in the respective mandates:
A consensus among CoinSmart reviews is that it’s a great choice, especially for those who are new to the world of cryptocurrency exchange. The platform is user-friendly, and it offers a variety of features that can be very helpful for both newcomers and experienced traders. All deposits are processed and added to your account the same day they are received in the CoinSmart bank. The withdrawal processing time can range from 1 to 5 business days, depending on the sending and receiving bank transfer times.
- You can view your balance, portfolio, and trade history with CoinSmart Dogecoin and other cryptocurrencies all in one place.
- For more details about what the platform offers regarding protection for your account, the risks you take when you trade, and their privacy terms, check the CoinSmart website.
- For example, on person said that the CoinSamrt app would crash each time they attempted to withdraw crypto.
- For starters, two-factor authentication is used to protect all user accounts.
You can find a detailed FAQ section on the website, which covers most of the topics you might be interested in. To register, you must provide information such as your email address, a promo code, and country of residence. You begin by entering your phone number and verifying the 5-digit code, after which you upload your ID documentation (passport, driver’s license, ID card, residence permit).
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In a rapidly growing market, it’s important to have a platform that supports a variety of coins. This extensive list of currencies is admirable, as other platforms such as Shakepay only offer two options. Any crypto exchange’s top priority is to prevent fraud and protect user funds. CoinSmart takes security seriously, employing multiple layers of security. Vancouver’s WonderFi has now merged with two fellow regulated Canadian cryptocurrency exchanges, Coinsquare and CoinSmart, which are both based in Toronto.
Eligibility and Application Process
Besides that, CoinSmart Premium users receive Over-The-Counter (OTC) trading services to fill large orders, brokerage, and VIP access to exclusive CoinSmart events. The fact this platform is the only crypto exchange that offers 24/7 customer support speaks volumes. If you have questions or problems, please contact the SmartRep via email or live chat, and they will assist you in resolving the problem as soon as possible. The CoinSmart feature I used the most was their trading service. I was surprised at how fast the transaction took to complete; it was almost instantaneous.
Society Pass Inc Adds Cypto Currency Payments Capabilities by Partnering with Canada-based CoinSmart Financial Inc
- In general, it is a detailed interface and report center that allows you to track your progress and activity.
- You enter the amount you want to deposit and click the Confirm Deposit Amount button.
- With Bitbuy, you will get access to an improved experience on the web and mobile, staking rewards, Private Wealth services, and an advanced trading interface.
- Recently, CoinSmart and other Canadian crypto exchange have removed the altcoin XRP from their site.
As soon as you have accepted the request, the funds will be delivered to your CoinSmart account in 1-60 minutes. Since CoinSmart leans towards Canadian users, the main fiat currency supported by the exchange is CAD (Canadian Dollar). Because the exchange is fairly new, it is not available in most countries. Outside of Canada and the U.S., Coinsmart is available in approximately 40 countries.
Additional features
Once the crypto asset reaches your account, you can use it to trade for other cryptocurrencies. The entire process was easy and took no more than 60 minutes to complete. CoinSmart, founded in 2018 in Canada, is a digital currency trading platform that offers a simple, intuitive, and convenient way to buy and sell cryptocurrencies. The company’s mission is to make cryptocurrency trading accessible to everyone, regardless of experience or location. Do you want to get started with cryptocurrency trading but don’t know how? CoinSmart is a popular choice among Canadian crypto users.
With this option, you enter the amount you want to deposit and click the Send Reqeust for Deposit button. CoinSmart will send you a transfer request from Simply Digital Technologies Inc. to your email. All you need to do is accept the request and link it to your bank account.
You won’t have to wait days or weeks to get your hands on your coins. Withdrawals take a little longer, with a processing time of 1-5 days. Just like their U.S. cousins, Canadian crypto exchanges must follow the guidelines set by the Ontario Securities Commission (OSC) and other governing bodies. Under the OSC’s jurisdiction, crypto exchanges cannot trade securities. Therefore, many Canadian exchanges removed XRP from their platform, just like their U.S. counterparts did. Recently, CoinSmart and other Canadian crypto exchange have removed the altcoin XRP from their site.