Due to growing interest, cryptocurrency is becoming a more popular investment. Cryptocurrencies that started out costing fractions of a cent now cost tens of thousands of dollars. Every investor is hoping that their cryptocurrency experiences this kind of meteoric price jump. They just need a place to purchase their cryptocurrency – and CoinSmart is a great place to do it.
What Is CoinSmart?
CoinSmart is one of the best cryptocurrency trading platforms developed and based in Canada. CoinSmart is a publicly traded company that offers a simple and easy interface that makes trading a breeze. Users can trade among 16+ different cryptocurrencies through their desktop website or through their app, which is available on Google Play and the App Store.
Cryptocurrencies Available On CoinSmart
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- EOS (EOS)
- Stellar (XLM)
- Chainlink (LINK)
- Uniswap (UNI)
- Polygon (MATIC)
- USD Coin (USDC)
- Shiba Inu (SHIB)
- Bitcoin Cash (BCH)
- Polkadot (DOT)
- Avalanche (AVAX)
- Litecoin (LTC)
CoinSmart Features
CoinSmart has a number of features that make it an attractive platform for cryptocurrency investors:
Quick Deposits
Deposits are credited to your account the same day that CoinSmart receives them. This can be extremely advantageous if you’re trying to make profits by timing the market. Moreover, deposit and withdrawal wait times have also been reduced to help you get your money faster.
Variety of Funding Options
CoinSmart accepts a variety of options to fund your account, including Interac, wire transfers, e-transfers, and all the cryptocurrencies that are supported with CoinSmart. Processing time is near instant when you use your debit or credit cards.
Safe and Secure
CoinSmart has several ways to keep its customers and their cryptocurrency safe. The platform has a two-factor authentication system which can be used to require two passwords to access an account. It also uses a comprehensive identity verification process to prevent fraud. Finally, CoinSmart keeps its customers’ cryptocurrency safe by keeping it in cold wallets that do not have access to the Internet. These wallets prevent hackers from accessing them and stealing the cryptocurrency inside.
Advanced Features
The platform’s Advanced Trade feature offers limit orders, stop loss and real-time charting. You can also easily monitor your deposits, withdrawals, and trading activity through CoinSmart.
Ease of Use
Instead of having to trade your cryptocurrency to Bitcoin or Ethereum first like some other trading platforms, CoinSmart allows you to directly trade between all the cryptocurrencies it offers without having to convert them. Simply choose the two coins you’d like to trade and CoinSmart will take care of the rest.
Instant Verification
Instead of having to wait to trade cryptocurrency, your CoinSmart account can be verified instantly so you can get trading right away.
How Much Does CoinSmart Cost?
CoinSmart charges fees to fund your account and to withdraw funds or cryptocurrencies from your account.
Funding Fees
| Funding Method | Fees | Minimum Funding Amount | Maximum Funding Amount |
| Interac e-Transfer | 1.5% on amounts below $2,000 0% on amounts between $2,000 – $10,000 | $100 | $10,000 |
| Bank Wire | 0% | $10,000 | $5,000,000 |
| Credit / Debit Cards | Up to 6% | $100 | $5,000 |
Withdrawal Fees
| Withdrawal Method | Fees | Minimum Withdrawal Amount | Maximum Withdrawal Amount |
| Electronic Funds Transfer | 1% (minimum of $15) | $50 | $15,000 |
| Interact e-Transfer | 1% (minimum of $15) | $50 | $9,999 |
| Bank Wire | 1% (minimum of $15) | $10,000 | $5,000,000 |
Crypto Withdrawal Fees
If you’re withdrawing cryptocurrency, CoinSmart charges a withdrawal fee. The exact amount depends on the type of cryptocurrency you’re withdrawing. For example, this fee can range from 0.00003 for Stellar to 15.00 for Tether and the USD Coin.
Trading Fees
CoinSmart charges 0.20% -0.30% for commission on trades between Canadian dollars and any cryptocurrency. The platform charges 0.20% for single trades and 0.30% for double trades. That means if you buy $10,000 worth of Bitcoin, you’d be charged $20 in trading fees.
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How To Create A CoinSmart Account
To create an account with CoinSmart, you must sign up on its registration page.
- Sign-Up – The first step to creating an account with CoinSmart, involves signing up with your email. You will then have to verify your email address via a link that CoinSmart sends in an email.
- Verify Your Identity – Next, you will have to go through CoinSmart’s identity verification process by entering personal information such as your full name, date of birth, phone number and address. You’ll also need to send CoinSmart proof of identity such as a copy of a government-issued ID.
- Fund Account – Once your identity is verified, you can fund your account and start trading cryptocurrencies.
Check out our roundup of crypto cards in Canada
Additional Reading
CoinSmart FAQs
Is CoinSmart safe to use?
What crypto coins are supported with CoinSmart?
What is CoinSmart’s referral program?
Bottom Line
CoinSmart is a cryptocurrency trading platform specifically tailored for Canadian cryptocurrency investors. The platform has a variety of features that make it an attractive choice for cryptocurrency investment, including keeping cryptocurrencies in cold wallets with no Internet access to prevent hackers from accessing them. There are fees to fund your account and to withdraw either cash or cryptocurrency, but these fees are fairly minimal. If you are looking for an easy-to-access platform to use to trade cryptocurrencies, then CoinSmart might be for you.
