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CoinSmart Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
CoinSmart logo
3.43
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 is a Canadian-based centralized cryptocurrency exchange known for its user-friendly platform, catering to both beginners and experienced traders.

It offers a variety of cryptocurrencies for trading, along with fiat currency support, including CAD and USD. CoinSmart emphasizes quick account verification and fast transaction processing.

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 crowd with its intuitive platform that caters to both novice and seasoned traders. While its foundation is solid, the exchange continues to evolve, adapting to the ever-changing landscape of cryptocurrency.

CoinSmart homepage

Agility and user-centric design have been the pillars of its growth, as CoinSmart aims to democratize cryptocurrency trading for a global audience.

About CoinSmart

Since its inception, CoinSmart has been riding the wave of technological innovation, continually upgrading its services in line with the dynamic crypto market. Its journey has been shaped by a commitment to simplifying the complex world of digital currencies for its user base.

The exchange has witnessed the ebbs and flows of the crypto economy, emerging as a robust platform aligned with the growth trajectories of major cryptos by market cap 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)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • TRON (TRX)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Immutable (IMX)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Aptos (APT)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies CoinSmart supports

  • ADA
  • AVAX
  • BCH
  • BTC
  • DOGE
  • DOT
  • EOS
  • ETH
  • LINK
  • LTC
  • MATIC
  • SHIB
  • SOL
  • UNI
  • USDC
  • XLM

Trading Experience

Trading on CoinSmart is a journey marked by sophistication and simplicity. The user interface is sleek and intuitive, making navigation a breeze for beginner traders while still offering the advanced trading tools sought by more experienced investors.

CoinSmart’s platform is designed to facilitate a seamless trading experience, with an array of features that support both quick single trades and more complex double trades.

CoinSmart exchange marketing

CoinSmart Fees

Understanding the fee structure of an exchange is crucial, and CoinSmart employs a model designed to be transparent and competitive. Instead of fixed rates, fees are scaled according to activity, giving users control over their transactions.

CoinSmart’s approach to fees ensures that traders can make informed decisions about their trades without encountering unexpected costs.

CoinSmart’s fee policy is focused on providing a balance of affordability and value. By not having a one-size-fits-all fee structure, the exchange accommodates the varied needs of its users—from those executing their first trade to professional traders managing a portfolio of crypto assets.

This nuanced approach allows traders to engage with the market without the worry of disproportionate costs impacting 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 compared to the industry average of 0.000075 BTC. So CoinSmart has a fee that is above the industry average by 566.67%.

Security - Is CoinSmart Safe?

A fortress of digital protection, CoinSmart has implemented a suite of security measures to safeguard its users’ assets. The exchange operates with an emphasis on security, utilizing cutting-edge technology and protocols.

These measures include two-factor authentication, cold wallet storage, and rigorous user verification checks to prevent potential security breach issues, ensuring a secure trading environment.

CoinSmart Customer Support

CoinSmart’s customer support structure is built to address the needs of its diverse customer base promptly. Providing around-the-clock assistance through various channels, the exchange ensures that users receive the help they need when they need it.

CoinSmart’s support team is equipped to handle an array of queries, from troubleshooting during the registration process to complexities encountered during larger 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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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
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Trading Fees
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Fiat Currencies Supported
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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
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Trading Fees
0.06% - 0.16%

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

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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
332+

Trading Fees
0.06% - 0.10%

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

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Final Thoughts

In conclusion, CoinSmart emerges as a versatile and reliable cryptocurrency exchange platform, primarily serving the Canadian market but also catering to an international audience.

Its strengths lie in its user-friendly interface, which is accessible to beginners while still offering advanced features for experienced traders. The platform supports a broad range of cryptocurrencies and provides various deposit methods, enhancing its appeal to a diverse user base.

CoinSmart’s commitment to quick account verification and fast transaction processing sets it apart in a market where speed can be crucial. However, its slightly higher withdrawal fees for some cryptocurrencies, compared to industry averages, might be a 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: