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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 a cryptocurrency trading platform developed and based in Canada. Many cryptocurrency trading platforms are not available in Canada, so CoinSmart created a platform specifically for Canadian consumers. The platform currently offers the ability to trade ten different cryptocurrencies and will be adding more in the future.
Check out our roundup of crypto cards in Canada.
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.
- Variety of Funding Options: CoinSmart accepts a variety of options to fund your account, including Interac, SEPA, wire transfers, e-transfers, and all the cryptocurrencies that are supported with CoinSmart.
- Track Your Activity: You can easily monitor your deposits, withdrawals, and trading activity.
- Customer Support: CoinSmart offers 24/7 support via email or live chat.
- 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.
- 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.
- 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 Method||Fees||Minimum Funding Amount||Maximum Funding Amount|
|Interac e-Transfer||1.5% below $2,000||$100||$10,000|
|Credit / Debit Cards||Up to 6%||$100||$5,000|
|Withdrawal Method||Fees||Minimum Withdrawal Amount||Maximum Withdrawal Amount|
|Electronic Funds Transfer||1% (minimum of $15)||$50||$15,000|
|Bank Wire||1% (minimum of $15)||$10,000||$5,000,000|
Crypto Withdrawal Fees
If you’re withdrawing cryptocurrency, CoinSmart takes part of your cryptocurrency as a withdrawal fee. This fee can range from 0.00003 for Stellar to 15.00 for Tether and USD Coin.
CoinSmart charges 0.20% for commission on trades between Canadian dollars and any cryptocurrency or between two cryptocurrencies when one of the cryptocurrencies is Bitcoin. The platform charges 0.30% for commission on trades between two cryptocurrencies that are not Bitcoin.
How To Create A CoinSmart Account
To create an account with CoinSmart, you must sign up on its registration page. You will then have to verify your email address via a link that CoinSmart sends in an email. Next, you will have to go through CoinSmart’s identity verification process by entering personal information such as your date of birth and address. The platform verifies your identity through Equifax. If you cannot get your identity verified, you can send CoinSmart proof of identity such as a copy of a government-issued ID. Once your identity is verified, you can fund your account and start trading cryptocurrencies.
Is CoinSmart safe to use?
What crypto coins are supported with CoinSmart?
What is CoinSmart’s referral program?
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.
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