There are cheaper alternatives like Bitbuy or Binance, both of which offer lower fees, excellent security, and beginner-friendly platforms with a wider range of features. Coinberry’s trading fees are among the highest, and it lacks advanced features, limiting users to basic trading. NDAX also has low trading fees, staking, and a wide range of cryptocurrencies. 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. There are many Canadian crypto exchanges to choose from.
How Long Does it Take to Withdraw Coins?
Coinberry positions itself as a trading platform rather than a peer-to-peer exchange. However, Coinberry has some of the highest fees coinberry review we’ve seen of any crypto exchange in Canada. Free deposits and withdrawals is great and you can easily transfer Canadian dollars without worrying about exchange fees.
Excellent Customer Service and Security Measures
Answered my questions in a timely manner. Fast and efficient.Spread & fees are biggers than one would want but overall 4/5.Would recommand. Thank Coinberry for making my experience so simple. I’ve found Coinberry to be very responsive to all my issues.
Can Coinberry Track where you Receive and Send Crypto?
Coinberry provides robust security measures to protect users’ assets. You can make free deposits using Canadian dollars via Interac e-Transfer or bank transfer, but you cannot buy crypto with credit or debit cards. Typical trading fees are just 0.2%, so keep this in mind if you wish to trade with Coinberry. You can buy crypto in minutes by sending an Interac e-Transfer or bank transfer. Canadians can purchase crypto using Interac e-Transfer or bank transfers, but credit and debit cards are not accepted. While deposits and fiat withdrawals are free, Coinberry’s trading fees are relatively high, reaching up to 2.5%.
Company details
As someone who has tested over 50 crypto exchanges since 2016, I created a Coinberry account to determine if it’s worth using. Disappointed with the service at coinberry from delayed withdrawals to unresponsive customer support. I tried to withdraw money from my coinberry account & was told there was suspicious & illegal trading on the account. Here to give a big shout out to Eren whom handle my e-transfer bank deposit to Coinberry, absolutely appreciate the way Eren support us the users.
Another common positive aspect highlighted in the comments is the simplicity and ease of use of the Coinberry platform. While some find the security validation steps thorough, many see it as a necessary step to safeguard their investments. It reflects the confidence that it is advised to have in the context of an exchange with a digital correspondent (website or email). When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider.
- 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.
- NDAX also has low trading fees, staking, and a wide range of cryptocurrencies.
- I had it in a bitcoin wallet in Europe and transferred over to Canada.
- It’s also fully compliant with Canadian regulations and offers strong security measures, making it a safe option.
We champion verified reviews
Lack of transparency regarding compliance policies has left some users feeling uncertain about the legitimacy of the platform. Users have reported instances of suspicious and illegal trading activities on their accounts, leading to demands for additional payments for account restoration. They appreciate the platforms consistent performance, quick responses, and adherence to security protocols. Users who had positive experiences with Coinberry often mention the platforms reliability and trustworthiness. One of the recurring themes in the positive feedback is the praise for Coinberrys customer service. However, technical glitches and fund security concerns have also been a recurring theme among user reviews.
I reached out to customer support and it turned out be an easy fix. I have informed them I no longer wished to use their site, and that I wanted my money returned so I could close the account. Awful.Similar to several people on here they changed my account from verified to unverified AFTER I requested the withdrawal, and are asking for a number of documents, claiming they need to be compliant with FINTRAC. I’m currently trying to withdraw the funds from my account by eTransfer to the same bank account that made the initial deposit.
- Communication is difficult at times.
- We use dedicated people and clever technology to safeguard our platform.
- You can make free deposits using Canadian dollars via Interac e-Transfer or bank transfer, but you cannot buy crypto with credit or debit cards.
- If you think this website should be very popular, please invest additional time in researching the company as this is suspicious.
- Following a supposed scheduled platform update, all access to my assets has been lost.
CoinBerry is an Fantastic exchange app. Normally they take a few hours…sometimes longer depending on the volume going through. I love working on this platform.
Companies can ask for reviews via automatic invitations. I had it in a bitcoin wallet in Europe and transferred over to Canada. I would not advise to go with this company. This is definitely a fraud attempt to steal honest Canadian citizens money.
Common Crypto Exchange Scams with Coinberry
They have great customer services. I do not like withdrawal fees and can only withdrawal particular crypto. Don’t expect to withraw crypto or deposit fiat without issues. Coinberry has no compliance or customer service. I am still waiting for crypto withdrawal.
Security and Trust Concerns
Scammers might claim there’s an issue with your account and try to trick you into sharing sensitive information like passwords. This is how the Canadian government was able to freeze accounts of the protestors during the “Freedom Convoy” earlier this year. If you are linked with criminal behaviour you may find your account frozen as well. However, there are some people who have had trouble withdrawing assets. Coinberry holds an average 3.6-star rating on Trustpilot, with 47% of reviews rated as excellent.
I am still waiting for crypto…
On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. Oleg is a Canadian citizen & crypto expert who has been trading since 2016. With free deposits and withdrawals and the ability to connect directly to your Canadian bank account, Coinberry makes buying crypto straightforward. Coinberry is a simple and beginner-friendly platform, ideal for Canadians starting their crypto journey. Another common scam is fake airdrops, which promise free crypto but require you to send tokens first in exchange for more valuable coins.
Coinberry’s iOS app has a solid 4.5-star rating with 5,000 reviews, reflecting general user satisfaction. The platform uses military-grade encryption to secure user data and stores up to 97% of its coins in cold storage, one of the highest percentages in the industry. Our deposit via Interac e-Transfer took five minutes to be deposited into our Coinberry account. The total fees, including the spread, came to $3.00, which equals a 2.5% fee—relatively high. We deposited $120 into our Coinberry account, and since deposits are free, the full amount was available in our account. The spread can also fluctuate depending on the liquidity of an asset—higher liquidity and trading volume generally result in smaller spreads.
Sadly, getting your money back from a scammer is not as simple as just asking. This is the first and easiest step to determine whether you are dealing with a genuine company or scammers. Your data may already be in the hands of hackers, and the worst part is that most people don’t realize how much danger they’re in until it’s too late. Cryptocurrency services detected, these can be high risk While this money-back guarantee is not 100% secure, it does allow consumers in most cases to get their money back if the product is not delivered or proves to be fake.
Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things. You’ll receive a unique payment link, and any crypto deposited is automatically converted into Canadian dollars for convenience. Additionally, Coinberry lets you accept crypto payments and tips through Coinberry Pay. This is particularly useful for those using a dollar cost averaging (DCA) strategy, enabling regular crypto purchases, such as weekly investments. Toronto-based Coinberry offers a wide selection of cryptocurrencies, aiming to make crypto more accessible to Canadians.