coinsquare

Overview of coinsquare

Coinsquare is a regulated financial institution based in Canada, founded approximately 10-15 years ago. It falls under the oversight of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and holds an Exclusive license for investment advisory services. The company's headquarters are located in Toronto, ON, Canada. Coinsquare prioritizes security with two-factor authentication, advanced encryption, and cold storage for most cryptocurrencies. The platform offers 69 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Cardano, with trading volumes spanning $10 million to $10 billion. The fee structure varies based on trading volume, with taker fees ranging from 0.50% to 0.14% and maker fees from 0.50% to 0.05%. Coinsquare provides educational resources, real-time market data, and tools for traders. Customer support is available through various channels, including email and social media. In comparison to similar brokers, Coinsquare requires a minimum account of $200, offers daily limits up to $250,000, and charges competitive fees.

Pros and cons

Regulatory Authority

Coinsquare Ltd. is a regulated financial institution in Canada under the oversight of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It holds an Exclusive license (License No. M19566549) for investment advisory services. Coinsquare's regulation falls under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations. The company's status is currently “Regulated.” The license was issued on January 28, 2019, and is valid until November 3, 2021. Coinsquare Ltd.'s headquarters is located at 590 King St. W, Toronto, ON, Canada, with a contact phone number of +1 (877) 620-9006.

Security

Coinsquare prioritizes the security of user accounts and funds. The exchange utilizes a range of protection measures to ensure the safety of transactions and personal information. One of these measures is two-factor authentication (2FA), which adds an extra layer of security to user accounts by requiring a second verification step. Additionally, Coinsquare employs advanced encryption protocols to safeguard data transmission and storage. The platform also implements cold storage for the majority of user funds, which means that the majority of cryptocurrencies are stored offline in secure, offline wallets to prevent unauthorized access.

Cryptocurrencies Available

Coinsquare currently offers 69 cryptocurrencies, including

• Bitcoin,
• Ethereum,
• Bitcoin Cash,
• Litecoin,
• XRP,
• Tether,
• Solana,
• Cardano,
• Avalanche,
• Terra and etc.

Coinsquare maintains an efficient coin listing process, often incorporating newly announced coins within a matter of weeks. The platform accommodates a broad price spectrum, spanning from $600 to $1.2 trillion, along with trading volumes spanning $10 million to $10 billion, and a market capitalization scope of $1 billion to $1 trillion.

How to open an account？

The registration process on Coinsquare can be completed in six simple steps:

1.Visit the Coinsquare website and click on the “GET STARTED” button.

2. Fill out the registration form with your personal information, including your name, email address, and password.

3. Verify your email address by clicking on the verification link sent to your inbox.

4. Complete the identity verification process by providing a valid government-issued ID, such as a passport or driver's license.

5. Submit any additional required documentation, such as proof of address, if requested by Coinsquare.

6. Once your account has been verified, you can start depositing funds and trading cryptocurrencies on the platform.



Fees

Coinsquare's fee structure for cryptocurrencies trading on Coinsquare Pro varies based on trading volume. Taker fees range from 0.50% to 0.14%, while maker fees range from 0.50% to 0.05%.

Pricing Tier	Taker Fee	Maker Fee
<$10K	0.50%	0.50%
$10K - $25K	0.40%	0.35%
$25K - $50K	0.35%	0.35%
$50K - $100K	0.25%	0.17%
$100K - $250K	0.25%	0.15%
$250K - $1M	0.20%	0.12%
$1M - $5M	0.17%	0.10%
$5M - $20M	0.15%	0.08%
$20M+	0.14%	0.05%

Payment Methods

Coinsquare's fee structure encompasses CAD deposits with no fees for Interac e-Transfer requests and wire transfers, while CAD withdrawals include no fee for Interac e-Transfer* and a 1.5% fee for direct bank deposits, both processed in 0-3 business days. Crypto withdrawal fees vary and are instantly processed; notable examples include 0.0005 BTC for Bitcoin, 0.005 ETH for Ethereum, 0.5 XRP for Ripple, 0.03 LTC for Litecoin, and 0.002 BCH for Bitcoin Cash. There is a 2% fee for fiat currency withdrawals.

Payment Method	Buy	Sell	Add Cash	Cash Out	Speed
Interac e-Transfer	Yes	Yes	Yes	Yes	Instant
Wire transfer	No	Yes	No	Yes	1-3 business days
Direct bank deposit	No	Yes	Yes	Yes	1-3 business days
Credit card	Yes	Yes	No	No	1-3 business days
Debit card	Yes	Yes	No	No	1-3 business days