• Minimum Deposit: $20
  • Account Options: Limited
  • Customer Support: Chat Bot, Email, Physical Address
  • Commission Fee: 0.50% Taker/Maker Fee for investments below $10k
  • Accepted Cryptocurrencies: BTC, ETH, XRP, DOGE, LTC, DASH, XLM and more

Coinsquare Reviews: Pros and Cons [Reviewed in 2022]

Coinsquare is one of the platforms that has been getting a lot of attention lately.

If you are eager to learn more about it, there's no need to sift through all the Coinsquare reviews online. You've got all the information right here!

  • Minimum Deposit: $20
  • Account Options: Limited
  • Customer Support: Chat Bot, Email, Physical Address
  • Commission Fee: 0.50% Taker/Maker Fee for investments below $10k
  • Accepted Cryptocurrencies: BTC, ETH, XRP, DOGE, LTC, DASH, XLM and more

Best For

Crypto-Trading Beginners


  • Quick and easy sign-up
  • Numerous cryptocurrencies available
  • Fast and low-fee withdrawals
  • No fee deposits
  • User-friendly interface
  • Referral program


  • Available in Canada only
  • History of security breaches
  • Dynamic fees based on current network conditions

What is Coinsquare?

Since its launch in 2014, Coinsquare Canada has been one of the biggest cryptocurrency exchanges in the country. It currently allows users to buy and sell 40 digital assets, which is in about the same ballpark as other trading services like Qtrade and Coinberry.

The highly-skilled and experienced team of 100+ employees strives to make the platform the most convenient, secure and accessible platform for buying and selling digital coins.

Over the years, its user base includes over 500.000 Canadians, and the Coinsquare stock has continued to rise.

Overview and Features

While most of the crypto exchanges on the market tend to be quite similar, Coinsquare has a few features that make it stand out from the rest. Some are more obvious than others, but they create a user-friendly and well-rounded experience.

Accepted Cryptocurrencies

Let’s start with some of the most important information there is. Even though most users are looking to trade some BTC, Coinsquare offers a variety of different currencies to meet the needs of a wide range of users. Let’s check out the list of accepted cryptocurrencies at Coinsquare.









Axie Infinity




Bitcoin Cash












Curve DAO












Enjin Coin




Ethereum Classic






Internet Computer












Shiba Inu










The Graph


USD Coin




Wrapped Bitcoin






As displayed in the table above, the variety of coins that Coinsquare offers is definitely satisfying.

You may be interested:


Coinsquare Trade allows users to purchase, sell or HODL Bitcoin and other digital currencies in a matter of seconds. In fact one of the top Coinsquare features is its quick-trade process.

As a member of the Coinsquare community, you’ll get the chance to enjoy no-fee deposits and withdrawals, processed in short timeframes. If you happen to come across any issues, the customer support team is here to assist you 24/7 and resolve any problems you may have.

These features are all available on the desktop version as well. But the app makes it much more convenient for those who are always on the go. It’s similar to CoinSmart‘s app in that sense.


The advanced trading options of CoinsquarePro provide experienced investors with all the tools and information they need to make informed decisions and trades.

The platform is equipped with view-depth charts and trade logs to stay up-to-date on the latest market trends. It offers several different order types, such as limit orders.

In addition, the high-performance trading engine allows you to measure execution times without putting your security at risk. A tiered fee schedule is also a powerful tool to maximize your investments.


If you want personalized service and efficient management of your digital currency portfolio, CoinsquareWealth is the way to go. The Coinsquare support team of experts will work with you to fully set up your account and keep you posted on all things cryptocurrency.

It is the most hands-on approach that Coinsquare offers, and it’s perfect for those who want to take a more active role in their investments.

Moreover, the fully managed banking services allow instant settlements and same-day transactions. You no longer have to wait days or weeks for your money to reach its destination.

Plus, the block trading feature gives representatives aggregate liquidity from various exchanges, market makers and internal order books. This way, you can rest assured that you’re getting the best price possible for your trade.

Referral Program

Word of mouth is always a powerful marketing tool, and Coinsquare values it. That’s why they offer a referral program that rewards users for every person they bring to the platform.

For every friend or family member you refer, you and the other party will receive $20. Once they’ve verified and funded their profile, the money will be deposited into the respective accounts.

Pricing and Fees

All associated Coinsquare fees are displayed on the website since transparency is vital in the world of cryptocurrency.

While the minimum deposit numbers are a bit lower than its competition, including CoinSmart and Bitbuy, it’s important to remember that these are only averages.

The actual fees you’ll pay depend on several factors, including your payment method, the currency you’re buying and selling and your trading activity.

While there are NO deposit fees, the minimum sum to fund your account is $20.

Deposit Fee Processing Time Minimum deposit Maximum deposit
Interac e-Transfer 0% 0-30 mins $20 $10.000
Wire transfers 0% 0-2 business days $10.000 Unlimited

The unlimited maximum deposit amount when using wire transfers is a bit of a rarity in the world of cryptocurrency exchanges. This inherent freedom of using Coinsquare is one of the many reasons it’s a popular choice, especially among more prominent investors.

In terms of the Coinsquare withdrawal fees, the numbers are calculated based on your withdrawal method.

CAD Withdrawals Fee Processing Time Minimum deposit Maximum deposit
Interac e-Transfer 0% Within 24 hrs $20 $2.000
Direct bank deposits 1.5% 0-3 business days $20 $100.000
Wire transfers 1.5% 0-2 business days $25,000 Unlimited

It’s worth noting that Interac e-Transfers are limited to withdrawal per day.So if you’re looking to move considerable sums of money off the platform, you’ll have to opt for a wire transfer.

The Coinsquare trading fees are generated using trading quotes with separate taker and maker fees.

Amount 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%

Each fee is calculated concerning the current pricing tier you’re a part of when you place the order. So, you will be ranked based on your trading volume for 30 days, and every calculation occurs in real-time.

Ease of Use and Customer Support

As mentioned previously, the Coinsquare app is user-friendly and accessible. The interface is clean and easy to navigate, even for those new to the world of cryptocurrency. You can download the app free on the App Store or Google Play.

The desktop version can be accessed through their website coinsquare.com. It’s straightforward to use and offers all the same features as the app.

Moreover, the Coinsquare wallet is another nifty feature. You can quickly transfer funds in and out of your account and keep track of your recent transactions.

If you ever need help, Coinsquare customer support is available through:

  • the website’s live bot chat
  • their dedicated email – [email protected]
  • the company’s physical address

And finally, the platform boasts a strong social media presence, with active accounts on Twitter, Facebook, Instagram, LinkedIn and Reddit. So you can stay up-to-date on the latest Coinsquare news and announcements.

Is Coinsquare a Scam?

Despite its mainly trustworthy reputation, there have been a few incidents in the past regarding privacy and security. Namely, in 2019, there was a data breach. Hackers were able to access the email addresses, usernames and hashed passwords of a large portion of individuals.

This isolated incident was settled quickly and efficiently, with the Ontario Securities Commission (OSC) ordering the chief operating staff, including Cole Diamond and Virgile Rostand, to each pay $1 million and $900,000, respectively. They also received three-year bans from acting as directors or officers of any registrant.

Another situation occurred when the CRA (Canada Revenue Agency) filed a Federal Court application against Coinsquare. The agency sought user information dating back between 2013 and 2015 to investigate possible tax evasion. The Court agreed to the request, and Coinsquare was forced to hand over the data.

Lastly, Market Surveillance Regulations were put in place in September 2020 by IIROC (Investment Industry Regulatory Organization of Canada). These new rules state that all trading platforms must implement surveillance systems to detect and report suspicious or illegal activity.

Coinsquare is expected to be in full compliance with these regulations at a later date. Until then, market surveillance will be handled by the Coinsquare ATS, under IIROC oversight.

So, if you’re left wondering, ‘Is Coinsquare safe?’, you might want to consider these incidents before making your decision. While it hasn’t had the cleanest track record, on par with Coinberry or Questrade, it appears to have learned from its mistakes. So it is taking the necessary steps to improve user safety.

Coinsquare vs Other Cryptocurrency Exchange Platforms

Keeping your options open is always a good idea, especially regarding something as important as your finances. With that said, how does Coinsquare compare to some of its main competitors?

Coinsquare vs Coinbase

Coinbase is a US-based exchange platform that allows users to buy, sell and store crypto assets. Moreover, it is a global platform, while Coinsquare services are only available in Canada. The far-reaching Coinbase brand might have an edge in public opinion, but that’s not to say that Coinsquare isn’t a strong contender.

Coinbase has a flat 1% transaction fee on all cryptocurrency exchanges. In contrast, most of Coinsquare’s transactions are free of charge, except for withdrawals made through wire transfers and direct bank deposits, which feature a 1.5% fee. You can get started with as little as 20$ on your Coinsquare account. But you’ll need at least $25 to start trading on Coinbase.

Coinsquare vs Binance

Binance has a whopping 600+ cryptocurrencies available on its exchange and is one of the most well-known platforms in the industry. It also has some of the lowest transaction fees in the business, coming in at less than 0.10%.

Binance comes out on top regarding the sheer number of options available, but Coinsquare is by no means a slouch. It currently has 40 cryptocurrencies, a booming exchange that is only improving with time.

Coinsquare vs Bitbuy

The duality of the Bitbuy platform is what sets it apart from its competitors. It offers an express trading option and a Pro alternative for more experienced users.

The Express Trade feature on Bitbuy features a flat 0.50% fee on all buys and sells. However, it is opposed to the varying fees assigned by Coinsquare based on the overall amount.

In addition, bank wire and Interac e-Transfers are respective deposit fees of 0.50% and 1.50% at Bitbuy. On the other hand, Coinsquare’s fees are 0% in both instances.

Bitbuy has the advantage regarding user-friendliness, but Coinsquare manages to keep up in more ways than one. Even the most novice of users will be able to find their way around the Coinsquare platform with ease.

Finishing Thoughts

After reading this thorough Coinsquare review, you can see it’s a secure and reputable platform. So, it is definitely worth considering, mainly if you’re based in Canada.

Regarding the cons, it doesn’t have quite the same reach as some of its global competitors. But, it makes up for it with its simple interface, no-fee deposits and free withdrawal options.


Is Coinsquare a safe exchange?

Despite the hiccups in the past, Coinsquare is a safe and secure platform with a good reputation.

Is Coinsquare a good wallet?

Coinsquare offers an in-built wallet for storing your cryptocurrencies, which is considered secure. However, some users prefer to store their coins offline in cold stores for added security.

Does Coinsquare have a wallet?

Yes, the Coinsquare wallet is an inherent feature of the platform.

Can I buy Bitcoin on Coinsquare?

Absolutely. You can buy Bitcoin (and +39 cryptocurrencies) on the Coinsquare platform.

How do I withdraw from Coinsquare?

Withdrawing from Coinsquare is a straightforward process. Complete the Coinsquare sign-in and follow the instructions on the website. Next, double-check that you’re sending your coins to the correct wallet address before confirming the transaction.

How do I send Bitcoins to Coinsquare?

Among Coinsquare reviews, sending Bitcoins (or any other cryptocurrency) to the platform is easy. Just log into your account and stick to the steps outlined on the platform.


Despite her formal background in linguistics, Maja has always been fascinated by the world of finance. She has spent years and years analyzing the market, including trades, investments, pitfalls to avoid as well as the stock exchange. As of recent, she has been studying some non-mainstream stocks in Canada. When I’m not immersed in numbers, I like to spend time with my dog and plan my next trip.