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CoinSmart Review

Last Updated on March 20, 2024

James Headshot
Written by
Adam Headshot
Edited by
CoinSmart logo
3.36
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit CoinSmart

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

CoinSmart, a Canadian-based cryptocurrency exchange renowned for its user-friendly platform and accessible services for both novice and expert traders, stands out as an industry leader for user friendliness.

CoinSmart provides access to a selection of cryptocurrencies for trading, as well as fiat currencies like Canadian dollars (CAD) and United states dollars (USD). With quick account verification and transaction processing times.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Supports a variety of cryptocurrencies
  • Quick verification process
  • Offers 24/7 customer support
  • Provides educational resources for beginners

Cons

  • Higher fees compared to some competitors
  • Limited advanced trading features
  • Relatively small selection of altcoins
  • No margin trading available
  • Withdrawal fees on certain coins can be high

Quick Summary

Headquarters Location Toronto, Canada
Fiat Currencies Supported USD, CAD, EUR
Total Supported Cryptocurrencies 16+
Trading Fees 0.20% - 0.30%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Interac e-Transfer
Support Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

CoinSmart stands out from the competition with its user-friendly platform that accommodates both novice and veteran traders alike. Although its foundation remains secure, CoinSmart continues to adapt with changes to cryptocurrency landscape.

CoinSmart homepage

Agility and user-centric design have been cornerstones of CoinSmart’s growth; with an aim of democratizing cryptocurrency trading globally.

About CoinSmart

Since its formation, CoinSmart has ridden the wave of technological innovation to keep up with an increasingly dynamic cryptocurrency market. At its heart lies an ongoing mission to simplify digital currency for its user base.

The exchange has witnessed the ups and downs of the crypto economy, serving as a reliable platform to track growth trajectories of top crypto assets such as Bitcoin and Ethereum.

CoinSmart features

CoinSmart has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, TikTok and YouTube.

CoinSmart has a mobile app on both the Apple App Store and Google Play.

CoinSmart Supported Cryptocurrencies

CoinSmart supports trading on over 16 cryptocurrencies on their platform. This exchange currently supports 14 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Shiba Inu (SHIB)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • Polygon (MATIC)
  • Litecoin (LTC)
  • NEAR Protocol (NEAR)
  • Dai (DAI)
  • UNUS SED LEO (LEO)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Kaspa (KAS)
  • Ethereum Classic (ETC)
  • Aptos (APT)
  • Monero (XMR)
  • Render (RNDR)
  • Hedera (HBAR)

Download full list of cryptocurrencies CoinSmart supports

Trading Experience

Trading on CoinSmart is an effortless experience that blends sophistication with ease. The user interface is elegant yet straightforward, making navigation effortless for new traders while still offering sophisticated tools for more experienced investors.

CoinSmart’s trading platform was designed to offer an effortless trading experience, featuring features to facilitate both quick single trades and more complex double trades.

CoinSmart exchange marketing

CoinSmart Fees

Understanding an exchange’s fee structure is of utmost importance, which is why CoinSmart employs a model designed to be transparent and competitive. Instead of charging fixed rates, fees scale according to activity giving users control over their transactions.

CoinSmart’s approach to fees ensures that traders can make informed decisions without incurring unexpected costs.

CoinSmart’s fee policy strives to offer users an optimal balance of affordability and value. By not employing a universal fee structure, this exchange accommodates for the diverse needs of its users ranging from beginners looking for their first trade experience all the way up to professional traders managing an arsenal of crypto assets.

This nuanced approach allows traders to engage with the market without incurring additional costs that hinder their strategies.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Credit/Debit Card) 6%
Trading Fee 0.20% - 0.30%
Withdrawal Fee (Bank Transfer) 1% or €/$15 (whichever is higher)

CoinSmart supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC. The average across all other exchanges that we've reviewed is 0.000415 BTC. This means CoinSmart charges above the industry average by 20.36%. This is worth noting because it likely means they are also charging higher fees and spreads across all cryptocurrencies on their platform.

Security - Is CoinSmart Safe?

CoinSmart stands as an oasis of digital protection, employing numerous security measures to safeguard its users’ assets. Operating with an emphasis on safety, CoinSmart uses cutting-edge technology and protocols in its operations.

These measures include two-factor authentication, cold wallet storage and stringent user verification checks to protect against potential security breach issues and ensure a safe trading environment.

CoinSmart Customer Support

CoinSmart’s customer support structure is tailored to quickly meet the needs of its diverse customer base. Offering around-the-clock assistance through multiple channels, CoinSmart ensures users receive immediate assistance whenever they require it.

CoinSmart’s support team can address an array of queries, from troubleshooting during registration to handling complex trades.

CoinSmart support

CoinSmart Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on CoinSmart

  1. Create Account - Visit the CoinSmart website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Interac e-Transfer

CoinSmart Alternatives

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3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
395+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

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Kraken logo

Kraken

3.44
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
253+

Trading Fees
0.08% - 0.40%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

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OKX logo

OKX

3.57
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
364+

Trading Fees
0.08% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

CoinSmart stands out as an adaptable and trustworthy cryptocurrency exchange platform, serving the Canadian market but also catering to an international customer base.

Strengths of this platform lie in its user-friendly interface, which is accessible to beginners while still offering advanced features for experienced traders. Furthermore, the platform supports various cryptocurrencies and deposit methods – increasing user accessibility across a wide user base.

CoinSmart stands out in an industry where speed matters by offering swift account verification and transaction processing times; its low withdrawal fees for certain cryptocurrencies may be of consideration for some users;

CoinSmart FAQs

CoinSmart is a cryptocurrency exchange that operates legally in the jurisdictions where it is available. It complies with the regulatory requirements set out for financial services companies, including those related to cryptocurrency transactions.

Yes, you do need to provide identification to use CoinSmart. The exchange requires users to complete a Know Your Customer (KYC) process, which involves submitting government-issued identification to comply with anti-money laundering regulations.

The daily limit for transactions on CoinSmart can vary depending on your account level and verification status. Users are encouraged to check the exchange’s official website or contact customer support for specific information about their account limits.

To transfer bitcoins from CoinSmart, you would log into your account, navigate to the ‘Wallets’ section, select Bitcoin, and then choose the ‘Send’ option. From there, you would enter the recipient’s Bitcoin address and the amount you wish to send, and confirm the transaction following the provided instructions.

CoinSmart is available in various countries, but its availability can change based on regional regulations and compliance. Potential users should check the CoinSmart website or contact their support for the most up-to-date information on where the service is offered.

To buy Bitcoins from CoinSmart, you would create an account, complete the necessary KYC process, deposit funds into your account using one of the various methods offered, and then use those funds to purchase Bitcoin through the trading interface on the CoinSmart platform.

Online forums like Reddit have various user reviews and discussions on the legitimacy of CoinSmart. Potential users can research these threads to gauge community sentiment, bearing in mind that individual experiences can vary and user posts are not verified for accuracy.

Yes, CoinSmart is available in Canada. It is a Canadian-based cryptocurrency exchange platform, and it operates within the legal and regulatory framework of Canada, catering to Canadian residents with services like buying, selling, and trading cryptocurrencies.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: