CoinSmart Review – Canada’s Most Trusted Crypto Trading Platform

In this CoinSmart review, you'll find more information about its features, pricing, pros and cons and why you should consider using it.
9.2/10 (Expert Score)
Product is rated as #1 in category Cryptocurrency Exchange
9.2Expert Score
Try CoinSmart and experience one of the fastest, easiest and most secure way to buy Bitcoin and other cryptocurrencies

CoinSmart offers an exchange that is simple to use for users who are just getting started in the cryptocurrency market while also providing advanced capabilities for users who are more seasoned investors. CoinSmart is an online trading and investment platform for cryptocurrencies that combines ease of use with a sophisticated level of functionality.

Customer support
9
Value for money
9.4
Ease of use
9.2
Features
9.3
Pros
  • The quick account verification process
  • Time-processing assurances
  • Same-day deposits
  • Customer Service 24/7
Cons
  • The coin selection is adequate for the ordinary investor
  • Unavailable to US Citizens

Coinsmart, a cryptocurrency exchange based in Canada, has made it its mission to streamline the complex cryptocurrency business by removing whatever impediments it can find. They offer uncomplicated solutions, educational resources, and customer care that is available around the clock for all types of traders, from beginners to seasoned professionals.

Since it was first introduced to the Canadian market in 2018, Coinsmart has made it a goal to demystify cryptocurrencies, which has contributed to the company’s rise to prominence in the country’s trading community. They have also gone to the top of the industry in terms of the protection and safety that they provide for their customers.

In this review of Coinsmart, we are going to learn more about the innovative cryptocurrency exchange that they offer.

Click on “open” if you want to see exactly what we will talk about in the rest of this article.

Overview

What is CoinSmart?

CoinSmart is an online cryptocurrency exchange that was developed with the goal of raising more general awareness about virtual currencies. The platform enables users to engage in trading activities such as buying and selling using Bitcoin and other virtual currencies. An exchange for cryptocurrencies that was developed to level the playing field between inexperienced and seasoned traders. The increased utility, trustworthiness, and accessibility of crypto is what they hope to accomplish with their work.

The designers of CoinSmart were having a tough time funding their accounts and then becoming verified on other exchanges, which served as the drive for them to create CoinSmart as a solution to this problem. Because they were dissatisfied and upset with the options that were available at the time, they decided to get to work developing a reliable cryptocurrency exchange that would make cryptocurrencies accessible to everyone in Canada.

Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), Ripple’s XRP (“XRP”), Stellar’s Lumen (“XLM”), and Tether (“USDT”) are the nine cryptocurrencies that CoinSmart now supports.

CoinSmart provides its users with a number of different funding methods and options, allowing them to begin trading and investing in cryptocurrencies in a variety of ways. E-transfers, SEPA transfers, bank draughts, wire transfers, credit card payments, and cryptocurrency are all valid methods of payment. Customers can choose to fund their accounts using either US dollars, Euros, or Canadian dollars.

In addition, while purchasing cryptocurrencies with a debit card or credit card, investors have the option of selecting from a number of other currencies. Users of CoinSmart who also have an account with Simplex can immediately purchase cryptocurrency. People who have never worked with virtual money before are the target audience for CoinSmart.

It is designed with inexperienced crypto traders in mind, but even seasoned traders will find the charting features to be beneficial. Users who already possess cryptocurrencies that are supported by CoinSmart have the ability to move their holdings into compatible crypto wallets offered by the CoinSmart platform.

CoinSmart specifications

FeaturesSmart Guarantee / Smart Security / Smart Support / Smart Trade
Best suited forIndividuals, Freelancers, Small businesses, Mid size businesses
Website languagesEnglish
Website URLVisit official website
Support linkSupport page
Support email[email protected]
Live chatYes
Company address1075 Bay St, Toronto, Ontario, M5B 2B2, Canada
Year founded2018

Pricing

CoinSmart pricing: How much does CoinSmart cost?

The pricing charged by Coinsmart is standard, yet they are lower than normal. Single trades cost 0.20%, and double trades cost 0.30%. It is possible to trade dollars from Canada for any cryptocurrency, and it is also possible to trade cryptocurrencies that are not Bitcoin for one another. Coinsmart charges 6% for credit/debit card deposits $100–$1,999 and 1.5% for Interac e-Transfer deposits.

There are a variety of withdrawal fees associated with different methods and cryptocurrencies. The fees for EFTs and wire transfers are increased by 1%. (EFTs). The fees associated with withdrawals might be anywhere from $0.00003 to $15.00.

Pricing rangeFrom 0% to 15%
Pricing typesQuote based
Free planNo
Free trialNo
Money back guaranteeNo
Pricing page linkSee plans

CoinSmart pricing plans

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Funding options:

  • Interac e-Transfer:
  • Fee: 0% on $2,000–$10,000
  • Fee: 1.5% on $100–$1,999
  • Same Day Received
  • Range: $100 – $10,000
  • Bank Wire:
  • Fee: 0%
  • Same Day Received
  • Range: $10,000 – $5,000,000
  • Credit / Debit Cards
  • Fee: Up to 6%
  • Instant receival
  • Range: $100 – $5,000

Withdrawal Methods

Fee($15 Minimum deposit)

  • Interac e-Transfer
  • Fee: 1%
  • Instant (Bank processing speed influences instant withdrawals)
  • Range: $50 – $9,999
  • Electronic Funds Transfer
  • Fee: 1%
  • 1–5 Days
  • Range: $50 – $15,000
  • Bank Wire
  • Fee: 1%
  • 1–5 Days
  • Range: $10,000 – $5,000,000

Crypto Withdrawal Fees

All of them have a processing time as immediate delivery.

  • Bitcoin

Fee: 0.00025

  • Ethereum

Fee: 0.003

  • Litecoin

Fee: 0.001

  • USDC

Fee: 10.00

  • Bitcoin Cash

Fee: 0.0001

  • EOS

Fee: 0.0005

  • Stellar Lumens

Fee: 0.00003

  • Cardano

Fee: 0.30

  • Dogecoin

Fee: 5.00

  • Polkadot

Fee: 0.20

  • Shiba Inu

Fee: 1,000,000

  • Chainlink

Fee: 0.8

  • Uniswap

Fee: 1.5

  • Solana

Fee: 0.01

  • Polygon

Fee: 15

  • Avalanche

Fee: 0.05

Fees trading

  • 0.20% single trade
  • 0.30% double trade

Staking Fee

  • Commission up to 30% net staking rewards

Features

CoinSmart features: What can you do with it?

Smart Security

CoinSmart is able to detect fraudulent addresses and dates of birth by utilizing a database that is provided by data-gathering organizations. This enables CoinSmart to prevent fraud. CoinSmart validates a user’s identity by utilizing these third-party services, which also serve to secure the user’s privacy. Using CoinSmart necessitates the usage of a two-factor authentication method (2FA).

CoinSmart provides its customers with the ability to keep any of the cryptocurrencies that it trades in a safe environment known as cold storage. There is always the option of using a cold wallet, regardless of whether or not the user has actually purchased any cash. This is because cold wallets are not connected to the internet. This wallet is encrypted using the standard procedures and software used in the banking industry for encryption.

Keeping your cryptocurrency offline is what they mean when they talk about “cold storage.” A great number of cryptocurrency exchanges have made the decision to keep the vast bulk of their holdings offline in a location referred to as “cold storage,” where they are protected from all but the most advanced forms of hacking.

Due to the fact that Coinsmart is a federally regulated firm that is registered with the Financial Transactions and Reports Analysis Centre of Canada, it is imperative that the company abides by all applicable federal financial legislation (FINTRAC). OTC (over-the-counter) services that are tailored to the needs of enterprises and wholesale customers are offered at competitive pricing.

Smart Trade

The use of SmartTrade makes the process of buying and selling cryptocurrencies using traditional currencies more straightforward and easy to understand (or cryptocurrency you have already purchased). After entering the coin that you want to trade into the order box of the exchange, all you have to do is click the button.

Seasoned traders have access to a variety of order-placing options, including limit orders, stop loss, and real-time charting, in addition to individualized order placement. Following the completion of the account registration process, Equifax will promptly authenticate your identity so that you may start trading.

Smart Guarantee

Coinsmart will credit your account with the deposit charge if your deposit does not appear in your account within the allotted amount of time. Under the SmartGuarantee, CoinSmart guarantees that all deposits will be credited to your account on the same day that it receives them; cash withdrawal requests will be guaranteed to be fulfilled within five business days, and account verifications will be guaranteed to be performed on the same day.

Smart Support

You will never get the impression that you are just another customer at CoinSmart. The only cryptocurrency exchange in Canada to provide a live chat service that is available around the clock is CoinSmart. Email and live chat are both possible modes of connection with a SmartRep who is standing by.

Because they have a comprehensive Frequently Asked Questions section as well as a GetSmart Hub, it will not be difficult for you to increase your knowledge of cryptography.

Conclusion

CoinSmart review: Why you should use it ?

You need to look no further than Coinsmart if you are a citizen or resident of Canada and are looking for an easy-to-use cryptocurrency exchange. Both those who are unfamiliar with cryptocurrencies and those who have a great deal of experience with it will find the exchange to be a beneficial place to trade at.

Although Coinsmart may not offer quite as large of a range of digital assets as some of its rivals do, it does give its customers access to the coins and tokens that are the most in demand in the business. Another area of excellence that they take special note of and consider to be particularly noteworthy is their concern for the protection of the financial information that their users provide. Coinsmart has developed a strong reputation among its clientele for providing secure locations in which they may shop.

FAQ

Frequently Asked Questions

Is CoinSmart legit?

Yes, CoinSmart is legit. Simply Digital Technologies Inc. (MSB M18755033) manages the CoinSmart exchange and is regulated by the FINTRAC. FINCEN has also given them a US license.

Is it safe to use CoinSmart?

CoinSmart makes use of the cold storage facilities offered by BitGo, which are protected by an insurance policy from Lloyd’s of London with a maximum payout of one hundred million dollars.

CoinSmart Review – Canada’s Most Trusted Crypto Trading Platform
CoinSmart Review – Canada’s Most Trusted Crypto Trading Platform

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