Coinsquare was founded in 2014 and currently has over 100,000 Canada-based users. You can buy and sell popular cryptocurrencies with US or Canadian dollars, euros, or other cryptocurrencies either on the desktop version or mobile app (for iOS and Android).
Some of Coinsquare’s key features include:
A streamlined mobile application is available for Android devices.
High-level security – 95% of funds are kept in cold storage.
Dedicated service to Canadian crypto-traders.
Quick Trade function to convert crypto assets quickly.
|💼 Provider Type:||Exchange|
|💸 Minimum Deposit:||$20|
|💰 Trading Fees:||None|
|💰 Deposit Fees:||Varied|
|💰 Withdrawal Fees:||Varied|
|💰 Management Fees:||Varied|
|🔀 Minimum trade order||None|
|⌛ Withdrawal Timeframe:||1 - 3 business days|
|#️⃣ Number of Cryptocurrencies Supported:||10|
|#️⃣ Number of Crypto Pairs Supported:||20|
|💱 Top supported Cryptocurrencies:||BTC, BCH, BSV, LTC, ETH|
|📱 Native Mobile App:||Yes|
|🖥️ Free Demo Account:||No|
|🎧 Customer Support:||Live chat, Email|
|✅ Verification required:||KYC|
|📈 CFD Available||Yes|
|📊 Software:||Website, web app, mobile app|
|⚽ Social Trading:||No|
|✂️ Copy Trading:||No|
Pros And Cons Of Using Coinsquare
Coinsquare Cryptocurrencies And Trading Options
What Cryptocurrencies Can You Trade On Coinsquare?
Coinsquare offers numerous cryptocurrencies to buy, sell, and exchange. These include:
Bitcoin (BTC) – BTC/USD, BTC/CAD
Bitcoin Cash – BCH/USD, BCH/CAD
Bitcoin SV (BSV) – BSV/USD, BSV/CAD
Litecoin (LTC) – LTC/USD, LTC/CAD
Ethereum (ETH) – ETH/USD, ETH/CAD
Ethereum Classic (ETC) – ETC/USD, ETC/CAD
Ripple (XRP) – XRP/USD, XRP/CAD
Dogecoin (DOGE) – DOGE/USD, DOGE/CAD
DASH (DASH) – DASH/USD, DASH/CAD
Stellar Lumens (XLM) – XLM/USD, XLM/CAD
Different Trading Options Offered By Coinsquare
Coinsquare offers several trading options. These include:
Coinsquare offers spot trading, allowing crypto coins to be bought and sold for quick delivery. As a Coinsquare user, you can enjoy spot trading with fiat currencies or cryptocurrencies.
Some of the most popular cryptocurrencies you can buy on Coinsquare spot exchange include:
Coinsquare offers advanced options trading options, including stop, limit, and market orders.
Some popular currencies you can trade this way include:
Coinsquare also offers a QuickTrade feature to convert any two available cryptocurrencies instantly.
Can I Trade With Leverage On Coinsquare?
No, Coinsquare does not support leveraged trading.
Trading with leverage is risky and does not guarantee profits. Exercise caution and only trade what you can afford.
What Are The Spreads?
Coinsquare features 1.5% spreads, but this figure varies as the crypto market fluctuates.
Fees, Limits, And Payment Options On Coinsquare
What Are The Deposit And Withdrawal Fees, Limits, And Speeds?
Coinsquare offers a few deposit and withdrawal options. These include:
Interac e-Transfer: Coinsquare allows a minimum Interac e-Transfer of $20 and a maximum of $10,000. There are no fees, and deposits go through within 0-2 days.
Wire e-Transfers: Wire e-transfers have a minimum limit of $10,000 and no maximum limit. There is no fee for deposits. Transfers go through on the same day before 4 pm.
Wire e-Transfer: Wire e-Transfer withdrawals have a limit of $10,000 minimum and $100,000 maximum. Expect 2% fees and transfer speeds of 1-3 days.
Direct Bank Deposit: Direct Bank Deposit withdrawals of $20 minimum and $10,000 maximum. Bank deposit withdrawals incur 2% fees and go through within 1-3 days.
Wealth Wire: Wealth wire transactions have a minimum limit of $10,000 and a maximum of $100,000. Expect 1% fees and a transaction time between 1-9 days.
Rushed Wire: Rushed Wire withdrawals have a minimum limit of $50,000 and an unlimited maximum. Expect 2% fees and expedited one-day transaction speeds.
How Much Are Coinsquare Fees And Commissions?
Coinsquare trading fees change depending on whether you use QuickTrade or Bit Markets. When using QuickTrade, you can expect fees of 0.2% for Bitcoin trades. Those fees rise to 0.4% for altcoin trades (double trades).
Bit Market fees are much lower. Expect 0.1% fees for maker trades and 0.2% for taker trades.
Deposits do not come with fees. However, expect to pay 1-2% fees for withdrawal (Wealth Wire withdrawals are the cheapest option).
Cryptocurrency deposits are free. However, crypto withdrawals incur the following fees:
Bitcoin: 0.00025 – 0.0005 BTC
Bitcoin Cash: 0.001 BCH
Bitcoin SV: 0.001 BSV
Ethereum: 0.001 – 0.005 ETH
Ethereum Classic: 0.005 ETC
Stellar: 0.5 XLM
Litecoin: 0.02 LTC
XRP: 0.5 XRP
Dash: 0.002 DASH
DOGE: 2.0 DOGE
Coinsquare also offers a referral feature, paying up to 45% commission on their fees. Simply copy a link or referral code from your account dashboard, then share it with your friends and family. Coinsquare gives $10 BTC to referrals when they add $100 into their account.
Coinsquare Trade Sizes And Limits
Coinsquare lets you spend $10,000 maximum on cryptocurrencies per day. However, the minimum trading limit stands at $20 based on real-time market values.
Coinsquare Trading Platform
What Devices Can I Use Coinsquare On?
Coinsquare can be used on a few devices, including:
Desktop: Coinsquare’s main platform is available on desktop and contains all advanced trading features, including options trades and crypto-to-crypto exchanges. Use this version to make deposits, withdrawals, manage your funds and account.
Mobile phone application: Coinsquare also has a mobile app available for iOS and Android devices. The app offers the same features as the desktop version; buy and sell crypto, execute deposits and withdrawals, and use the QuickTrade function for speedy crypto-to-crypto exchanges. Download the app from your device’s app store for free.
Can I Use Coinsquare In Any Country?
Remember, crypto trading is prohibited in certain jurisdictions, including China. Check your local laws before trying to sign up for an exchange.
Is Coinsquare Available In My Language?
Coinsquare is available in numerous languages. Some of the most popular options include:
How Easy Is It to Use Coinsquare?
Coinsquare’s desktop platform is easy to use for beginner and advanced Canadian traders. Users can choose between simple trades and advanced options trading. However, Coinsquare is difficult to use on mobile. The app has an average rating of 2.3 out of 5 stars on Apple App Store and Google Play Store. Users report frequent crashes, varied deposit times, and limited functionality.
Coinsquare has many key features. These include:
No fee deposits
Unlike many other exchanges, Coinsquare does not charge any fees for deposits. However, you only have two deposit options available. If you require more deposit options, try an alternative exchange.
Coinsquare’s QuickTrade features make crypto-to-crypto exchanges easy. Simply select the cryptocurrencies you’d like to exchange from the list available, then finalise your order.
Supports Popular Cryptocurrencies
Coinsquare supports 10 major cryptocurrencies, including Bitcoin, Dogecoin, Ethereum, Litecoin, Ripple, and more. If you are looking for altcoins, purchase BTC or ETH through Coinsquare, then take your funds to a comprehensive exchange like Binance to purchase niche coins.
Security And Regulation
Is Coinsquare Safe?
Coinsquare utilises industry-leading security tech to protect your information, funds, and assets. The account holder must pass a KYC test, proving either a passport or driving license to confirm their identity. In addition, Coinsquare uses SSL encryption and two-factor authentication every time you log in.
Coinsquare does not store any financial information on its database. All info is encrypted and stored securely. Also, Coinsquare has experienced one data breach in its eight-year history.
All exchanges carry an element of risk. Cryptocurrency markets are volatile and unpredictable. Whenever you trade cryptocurrencies, you risk losing a large amount of money. Only trade what you can reasonably afford.
Am I And My Cryptocurrency Protected?
Yes. Coinsquare stores 95% of coins in offline cold storage, an effective storage method against hackers.
Like other Canada-based crypto exchanges, Coinsquare is not affiliated with the CIPF (Canadian Investor Protection Fund). As such, your investments will not be insured if the exchange becomes insolvent.
Is Coinsquare Regulated?
Yes, Coinsquare is regulated as a Money Service Business with FINTRAC, adhering to their rules and guidelines as a crypto exchange.
Do I Have To Verify My Account With Coinsquare?
Yes. All users need to verify their identity, phone number, and email address before trading with Coinsquare. The sign-up process involves KYC procedures. You will need to produce a form of government-issued ID (passport or driving license) to become a Coinsquare user.
If you have any questions regarding the Coinsquare registration process, contact customer support for more information.
Coinsquare has a robust help section to help you understand the exchange, sign-up process, security procedures, and how to make a trade. They also have a “How It Works” section to help new traders find their feet.
Tools And Charting
Coinsquare offers simple trading tools for beginner traders. However, it also has advanced tools for options trading. The exchange has a QuickTrade feature for speedy crypto-to-crypto transactions and real-time crypto charts for up-to-date market values.
Coinsquare does not offer leveraged trading instruments or futures trading options. If you require these tools, try an alternative exchange or broker instead.
Coinsquare offers two customer service options: live chat and email. However, many customers have complained about slow response times from the Coinsquare support team and fund clearing times. Coinsquare does not have a customer support phone number.
How To Buy And Sell Cryptocurrency On Coinsquare
How To Buy Crypto On Coinsquare
Step 1 - Visit Coinsquare's official site & site up
Register for an account on Coinsquare.
Step 2 - Verify your identity
Provide your verification information and documents.
Step 3 - Make a deposit
Deposit funds into your account with Interac or Wire e-Transfers
Step 4 - Select a trading pair
Select the relevant trading pair – you can trade with USD, CAD, EUR, or other cryptocurrencies.
Step 5 - Specify amount
Enter the amount of crypto you want to buy.
Step 6 - Complete order
Complete your order – you can spend up to $10,000 on a single cryptocurrency transaction.
Step 7 - Withdraw funds
Withdraw your funds to a secure personal wallet.
Step 8 - Enjoy your tokens.
How To Sell Crypto On Coinsquare
Step 1: Sign in to your Coinsquare account
Step 2: Choose the“Sell” option.
Step 3: Ensure your crypto coins are in your Coinsquare wallet.
Step 4: Select the number of crypto coins you want to sell.
Step 5: Double-check the conversion rate to ensure you are happy with the value of your crypto coins.
Step 6: Follow the instructions on-screen to make your sell order.
Step 7: Finalise your order.
Step 8: Withdraw those fiat currency funds via several withdrawal methods.
Step 9: Wait for the funds to reach your bank account. This can take anywhere from 1-9 days, depending on your withdrawal method.
Is there an alternative to Coinsquare?
Yes, there are many more ways to trade cryptocurrencies. Check out some of our reviews for the best brokers:
Coinsquare offers a sophisticated trading platform for Canadian users. Use this exchange if you want to buy 10 of the most popular cryptocurrencies. However, if you are looking for niche coins or you are an international trader, try another exchange like Binance or Kraken.
Coinsquare has robust charts and comprehensive features (including QuickTrade) to help new and experienced traders purchase crypto coins in their way. Make instant trades or options trades with dollars, euros, or other crypto coins.
Coinsquare is a good option for users looking for high-security features (cold storage, two-factor authentication, and SSL encryption) and a reliable desktop platform. However, the mobile app is difficult to use, and customer support is not as reliable as some other exchanges. Still, if you are Canadian and looking for a low-fee, easy-to-use service, Coinsquare is a good starting point.