Last Updated on 9 months by Anoob P T
This post is about Coinberry Review where we look at Coinberry Pros, Cons, Requirements, Fees & Supported Coins.
Coinberry is a crypto currency trading platform that supports Bitcoin, Stellar, Ripple, Ethereum, and other popular coins.
If you are into Bitcoin trading you can also read our post How to Sell Bitcoin in Canada: 11 Best Exchanges with Pros & Cons.
Coinberry Review: Pros, Cons, Requirements, Fees & Supported Coins
Table of Contents
What is Coinberry
Coinberry is a crypto currency platform that supports Bitcoin, Stellar, Ripple, Ethereum, and other popular coins. It is a digital asset trading platform based in Canada.
Coinberry was founded in 2017 and is headquartered in Toronto.
Coinberry is registered with FINTRAC and partnered with the Town of Innisfail in Ontario.
This means that Coinberry allows the payment of property taxes using Bitcoin.
Coinberry has a website that you can use from your desktop or mobile. It also has mobile apps that work on both Android devices and iPhone.
Official website of Coinberry: https://www.coinberry.com/
Coinberry App
Coinberry has apps for both Android and iOS powered smartphones.
You can download the official Coinberry App using the following links.
How Coinberry Works
To get started with Coinberry you need to sign up first.
If you want to trade through mobile you can download the app through the Android Play store or the App Store.
While signing up Coinberry automatically allows a $20 bonus if you use a referral link.
After verifying your account and trading for at least $50, the $20 will then be credited to your account.
The verification process of your Coinberry account is quick and has a standard KYC which you would expect for any financial technology platform.
To complete your verification, you will need to upload valid government issued ID proof.
You may also need to provide an address and a picture verification.
Coinberry accepts funds transfers via bank transfer, crypto, INTERAC e-transfer, Credit Card.
The minimum funding amount is $50 and the maximum funding amount is dependent on your financial institution (usually between $3000 and $5000).
Coinberry Features
If you are a Canadian citizen, you can easily join Coinberry and start trading.
Coinberry is registered with FINTRAC and therefore is committed to user onboarding, reporting and monitoring of frauds.
Some of features of Coinberry are:
- From what we’ve seen Bitcoin and crypto trading costs are low
- Where is 0% CAD funding and withdrawal fees
- You can get started with as little as $50
- Membership is automatically verified, and you can start trading with minutes
- You can trade whenever and wherever you want
- Funding is made simple through interac e-transfers, bank wire transfers, and credit card
- If you have got questions, you can get live support
Coinberry Fees
Coinberry does not charge any crypto deposit fee.
They have 0% CAD deposit fee and 0% CAD withdrawal fees. In order to cover mining fees, they charge withdrawals for the following crypto currencies.
For deposits or funding they allow a maximum of $10,000 deposit through interac e-transfer. The processing time takes up to 6 hours.
You can also fund through wire transfer minimum amount being $10,000 and maximum $500,000. On an average, the processing time for wire transfer takes 2 to 3 business days.
For withdrawals you can withdraw a minimum $100 through interac e-transfer and the processing time is almost instantaneous.
The maximum amount you can withdraw from interac e-transfer is $5000.
If you’re going through wire transfer you can withdraw minimum $10,000 and maximum $500,000 and the processing time takes 2 to 3 business days.
The processing or trading fees charged depends on the nature of the transaction and the network of liquid resources.
The rate can range anything between 0% to 2.5%.
The price is displayed before order confirmation and there are no hidden charges.
The actual price may differ slightly due to market fluctuations but the estimated fees that Coinberry will charge will be displayed to you before you confirm your order.
Coinberry Requirements
In order to start trading with Coinberry, you must fulfil certain requirements which are as follows:
- You must have a picture of you holding your photo ID along with the date of application and Coinberry written on a piece of paper.
- The acceptable photo ids are a Canadian passport or driver’s license
- You also must provide proof of address as recent as the previous month.
- The acceptable documents are record of employment, utility bill, Canadian pension plan statement etc.
Coinberry Supported Crypto Coins
Coinberry Supports all major types of crypto curriences including Bitcoin (BTC), Ripple (XRP), Stellar (XLM), Ethereum (ETH), Bitcoin Cash (BCH) & Litecoin (LTC).
Coinberry Pros
- Instant verification- new users get automatically verified on Coinberry and therefore do not have to go through long verification process and can start trading almost instantly
- One click trades- for newbies who are not very experienced in trading there is one click trade option available
- No fees- there is 0% CAD deposit and withdrawal fees
- Offers automatic Bitcoin purchase– when you sign up Coinberry automatically offers you Bitcoin purchases
- Insured by Lloyds
- Protected by Gemini Trust Company LLC
Coinberry Cons
- The mining and processing fees can go up 22.50%
- The platform only supports 6 coins
- You must have a minimum of $50 trading deposit to start with
- The platform is very basic and does not have advanced tools for experienced users
- It supposed supports only Canadian dollar Fiat
Is Coinberry Legit?
Since Coinberry is registered with FINTRAC that is, the Financial Transactions and Reports and Analysis Centre of Canada as a Money Service Business, it can be safely said that Coinberry is a legitimate company.
After getting insured by the Lloyds of London the company has a coverage of $ 1 million Canadian per claim.
The company has also partnered with Germany Trust Company which has $200 million in custody insurance.
Coinberry uses Gemini Trust Company to keep most coins in cold storage.
Coinberry Referral Program
If you sign up Coinberry using a referral it will pay the referee and the referrer $20 each after you have verified your account and at least rated $50.
You can share your referral code on social media platforms and to your golden circle and with each successful sign up you will get $20.
Coinberry vs Coinsquare
In this section of Coinberry review, we are going to compare Coinberry vs Coinsquare and let you know which platform will suit you the best.
Coinberry vs Coinsquare Fees
To start trading you need to deposit a minimum amount of $50 with Coinberry whereas you can get started with $20 on Coinsquare.
The deposit fee is free on both the platforms.
The purchase fee offered by coin Barry at best is 2.83% whereas with Coinsquare it’s 0.72%
The wire transfer fees are zero for Coinberry but with Coinsquare it is 2%
Coinberry vs Coinsquare Features
Coinberry offers you 6 coins were as coins square offers a wide range of 10 coins for trade
Both the platforms are beginner friendly.
The fastest deposit time with Coinberry is instantaneously whereas with Coinsquare it takes at least 0 to 2 business days.
Both the platforms have a limited number of orders that you can place
Automatic purchase is available on Coinberry which is not available on Coinsquare.
Coinberry does not have any professional tools whereas Coinsquare has professional tools.
Coinberry vs Coinsquare Insurance
Coinberry has cold storage via Gemini Trust Company whereas Coinsquare only allows 95% cold storage.
Coinberry Review
In this section, we are going to show you some Coinberry reviews which are available on the web.
We will also show you one positive and one negative review of Coinberry so that you get an idea about the platform.
Coinberry Positive Review
You can read more Coinberry reviews here.
Coinberry Negative Review
You can read more Coinberry reviews here.
Coinberry Customer Support Team Contact Information
Coinberry has an active customer support team that can address customers’ queries and concerns.
You can get in touch with Coinberry customer support team using the following channels.
Coinberry Email support@coinberry.com
Coinberry Phone Number 1 (888) 997-6544.
Coinberry Customer support Link https://www.coinberry.com/contact-us
Coinberry Social Media Handles
Coinberry is also active on most social media channels and you can follow the company on any of these channels to know about latest product updates, offers or even answering your queries.
Coinberry Alternatives
If you are considering using Coinberry, you can also check out other Coinberry alternatives to also trade in cryptocurrencies.
Some popular Coinberry Alternatives include:
Frequently Asked Questions about CoinBerry
Can I trust Coinberry?
Yes, Coinberry is registered with FINTRAC that is, the Financial Transactions and Reports and Analysis Centre of Canada as a Money Service Business, it can be safely said that Coinberry is a legitimate company.
How does Coinberry make money?
Coinberry makes money using difference between the prices we are able to source crypto for, as a high volume customer, and listed prices.
Who owns Coinberry?
Andrei Poliakov is the co-founder and CEO of Coinberry.
What is Coinberry?
Coinberry is a safe, insured cryptocurrency trading platform for Canadians.
Is Coinbase better than Coinberry?
Coinberry has no fees for deposits or withdrawals, which makes it cheaper to use than Coinbase.
Can I buy Dogecoin on Coinberry?
You can buy Bitcion on Coinberry and exchange elsewhere for Dogecoin starting with as little as $50 CAD.
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Coinberry Review
Coinberry Summary
Coinberry is one of many crypto currency trading platform that supports Bitcoin, Stellar, Ripple, Ethereum, and other popular coins. Overall, Coinberry has 3.1/5 rating based on 947 reviews on Playstore & 3.2 /5 rating based on 422 on TrustPilot so the service can be deemed satisfactory. If you are a beginner looking to invest in Cryptocurrencies, you can give Coinberry a shot.
Overall
3.5-
Coinberry Review
Pros
-
- Instant verification- new users get automatically verified on Coinberry and therefore do not have to go through long verification process and can start trading almost instantly
- One click trades- for newbies who are not very experienced in trading there is one click trade option available
- No fees- there is 0% CAD deposit and withdrawal fees
- Offers automatic Bitcoin purchase– when you sign up Coinberry automatically offers you Bitcoin purchases
- Insured by Lloyds
- Protected by Gemini Trust Company LLC
Cons
- The mining and processing fees can go up 22.50%
- The platform only supports 6 coins
- You must have a minimum of $50 trading deposit to start with
- The platform is very basic and does not have advanced tools for experienced users
- It supposed supports only Canadian dollar Fiat
