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

Coinsquare presents several advantages, including its regulation by FINTRAC and support for CAD deposits without fees for Interac e-Transfers and wire transfers. The platform offers diverse trading options and order types, along with its established reputation. However, there are drawbacks such as relatively high fees for low-volume traders and a 2% fee for fiat currency withdrawals. Coinsquare lacks cryptocurrency rewards and doesn't facilitate fiat currency trading in multiple currencies, while trading anonymously is not feasible on the platform.

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. More information can be found on their website: www.coinsquare.com.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada's financial intelligence unit, established in 2000 and headquartered in Ottawa. Operating under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations, FINTRAC's main role is the detection, prevention, and deterrence of money laundering, financing of terrorist activities, and other threats to Canada's security.

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. These security measures aim to provide users with a secure trading environment and protect their assets from potential threats.

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:

• 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



Educational Resources

Coinsquare provides a range of educational resources and tools to help users navigate the world of virtual currency trading. One of these resources is a comprehensive knowledge base, which includes articles and guides on various topics related to cryptocurrencies and trading strategies. Users can access this information to enhance their understanding of the market and make informed trading decisions.

Coinsquare also offers a blog that provides updates on market trends, industry news, and insights from experts in the field. This resource can be valuable for users who wish to stay updated and informed about the latest developments in the cryptocurrency space.

Additionally, Coinsquare provides users with access to a variety of trading tools. These tools include real-time market data, charting capabilities, and advanced order types. These features allow users to analyze market trends, monitor prices, and execute trades more efficiently.

Overall, Coinsquare aims to empower its users by providing educational resources and tools that can enhance their trading experience and help them make informed decisions in the virtual currency market.

Customer Support

Coinsquare provides customer support through various channels. You can reach them on Twitter (https://twitter.com/coinsquare) and Facebook (https://www.facebook.com/coinsquare.io/). For specific inquiries, you can use their customer service email address: support@coinsquare.co. Account-related questions can be addressed by logging in and utilizing the Help Center or starting a chat. General inquiries can also be directed to the Help Center. Additionally, you can contact them by mail at Coinsquare, PO Box 6 Toronto B., Toronto, ON, M5T 2T2. Press and media inquiries can be made through their provided contact information.



Compare to Other similar Brokers

In a comparison with other brokers, Coinsquare offers 69 cryptocurrencies, allows up to $250,000 per day, and charges maker fees of 0.14% - 0.50% and taker fees of 0.50% - 0.05%. Kraken offers over 90 cryptocurrencies with daily limits up to $500,000, and fee ranges of maker: 0.16% - 0.26% and taker: 0.26% - 0.36%. Meanwhile, Newton provides 70+ cryptocurrencies, permits up to $200,000 per day, and has fee brackets of maker: 0.1% - 0.2% and taker: 0.2% - 0.4%. Coinsquare requires a minimum account of $200, Kraken has no minimum, and Newton also has no account minimum along with potential promotions of up to $25 in BTC.

Feature	Coinsquare	Kraken	Newton
Cryptocurrencies	69	90+	70+
Amounts	Up to $250,000 per day	Up to $500,000 per day	Up to $200,000 per day
Fees	Maker: 0.14% - 0.50%, Taker: 0.50% - 0.05%	Maker: 0.16% - 0.26%, Taker: 0.26% - 0.36%	Maker: 0.1% - 0.2%, Taker: 0.2% - 0.4%
Account minimum	$200	$0	$0
Promotions	None	None	Up to $25 in BTC

Is coinsquare a Good Exchange for You？

In analyzing the trading groups suitable for Coinsquare, it is important to consider the features and services offered by the exchange. Based on this information, the following target groups may find Coinsquare suitable for their trading needs:

1. Experienced traders: Coinsquare provides a wide range of cryptocurrencies for trading, making it suitable for experienced traders who are looking to diversify their portfolios and explore different investment opportunities. The exchange also offers advanced trading tools, such as real-time market data and charting capabilities, which can help experienced traders analyze market trends and make informed trading decisions.

2. Canadian investors: As Coinsquare is based in Canada and regulated by FinTRAC, it is particularly suitable for Canadian investors who are looking for a local exchange that provides security, compliance with regulatory standards, and convenient payment methods like Interac e-Transfer. The availability of eCAD, a stablecoin backed by the Canadian dollar, also offers Canadian investors a stable and reliable option for trading and storing value.

3. Investors seeking diverse payment methods: Coinsquare supports various payment methods, including bank transfers, Interac e-Transfer, and Flexepin. This makes it suitable for investors who prefer the flexibility of choosing a payment method that aligns with their preferences and needs.

4. Users seeking educational resources: Coinsquare provides a range of educational resources, such as a knowledge base and a blog, which can be valuable for users who are seeking to enhance their understanding of cryptocurrencies and trading strategies. These resources make Coinsquare suitable for users who are looking to educate themselves and stay updated on market trends and industry news.

5. Investors seeking 24/7 customer support: Coinsquare offers customer support services 24/7 via phone, email, and live chat. This makes it suitable for investors who value responsive customer support and want to have access to assistance whenever they need it.

Based on these considerations, it can be recommended that experienced traders, Canadian investors, users seeking diverse payment methods, users seeking educational resources, and investors seeking 24/7 customer support may find Coinsquare to be a suitable virtual currency exchange for their trading needs.

Conclusion

In conclusion, Coinsquare offers a comprehensive virtual currency exchange platform that caters to the diverse needs of cryptocurrency traders. The exchange provides a wide selection of cryptocurrencies for trading and is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), providing users with a sense of security. Coinsquare supports various payment methods and offers 24/7 customer support, ensuring convenience and assistance whenever needed. However, it is important to note that fees can be high for smaller trading volumes, the interface may be overwhelming for beginners, and some users have reported slow customer support response times. Additionally, Coinsquare is not available in all countries, which limits accessibility for users worldwide. Overall, Coinsquare provides a secure trading environment with a range of cryptocurrencies and additional services, but users should be aware of these potential disadvantages.

FAQs

Q: What cryptocurrencies can I trade on Coinsquare？

A: Coinsquare offers a wide variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and Ripple, among others.

Q: What payment methods are supported by Coinsquare？

A: Coinsquare supports several payment methods, including bank transfers, Interac e-Transfer, and Flexepin.

Q: How long does it take for deposits to be processed on Coinsquare？

A: The processing time for deposits may vary depending on the payment method chosen. Bank transfers typically take 1-3 business days, while Interac e-Transfers and Flexepin deposits are usually processed instantly.

Q: Does Coinsquare offer any educational resources for beginners？

A: Yes, Coinsquare provides a knowledge base and a blog where users can find articles, guides, and market insights to enhance their understanding of cryptocurrencies and trading strategies.

Q: Can I access Coinsquare's services if I am not in Canada？

A: Coinsquare is available to Canadian and international users, but it is important to note that the availability of certain services may vary depending on your location.

Q: What customer support options does Coinsquare offer？

A: Coinsquare offers 24/7 customer support through phone, email, and live chat, ensuring that users have access to assistance whenever they need it.

Q: Is there a mobile app available for Coinsquare？

A: Yes, Coinsquare provides a mobile app that allows users to trade and monitor their investments on the go.

Q: What is eCAD and how does it work？

A: eCAD is a stablecoin introduced by Coinsquare and is backed 1:1 by the Canadian dollar. It provides users with a stable and reliable digital asset that can be used for various purposes within the Coinsquare ecosystem.

Please note that the questions and answers provided are based on objective information and may not cover all the concerns or specific details of each individual trader. It is always recommended to refer to the official Coinsquare website or contact their customer support for the most accurate and up-to-date information.

User Review

User 1: I've been using Coinsquare for a while now, and I have to say, I feel really secure trading on this platform. Their security measures are top-notch, and I appreciate the fact that they are regulated by FINTRAC. It gives me peace of mind knowing that my funds are protected. The interface is also user-friendly, making it easy for me to navigate and execute trades. The only downside I've experienced is that the customer support can be a bit slow at times, but overall, I'm happy with my experience on Coinsquare.

User 2: I recently started using Coinsquare, and so far, I'm impressed with the variety of cryptocurrencies they offer. They have a wide selection to choose from, including popular ones like Bitcoin and Ethereum. The liquidity on the platform is also great, allowing me to easily buy and sell without any issues. The customer support has been helpful whenever I've had questions or faced any difficulties. However, I do think that the trading fees can be a bit high, especially for smaller trading volumes. It would be nice if they offered more competitive rates. Overall, I find Coinsquare to be a reliable exchange with a good selection of cryptocurrencies and responsive customer support.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.