CoinSmart is a digital currency exchange in Canada that offers 9 crypto coins in Canada and Europe.
The platform is accessible on all devices, and you can invest using CAD, USD, or Euros.
When you sign up for CoinSmart using our CoinSmart referral link (promo code is applied automatically), you get a $20 bonus.
This CoinSmart review covers how it works, trading fees, security, pros, cons, and referral program.
CoinSmart Referral Code and Referral Program
CoinSmart has one of the best crypto promotions available.
When you sign up here and deposit $100 in your new account, you earn a $20 bonus instantly.
Our exclusive CoinSmart referral code is automatically applied to your account, and you don’t need to enter promo codes manually.
As a member, you can also benefit from CoinSmart’s referral program and earn unlimited bonuses.
Here’s how the referral program works:
- Open an account and fund it with $100 or more
- Grab your referral link and share it with friends and family
- When they fund their account with $100, you both receive a $15 bonus. The bonus is credited to your account within 5 business days
What is CoinSmart?
CoinSmart is a cryptocurrency exchange founded in 2018. It operates in Canada and Europe and caters to both beginners and experienced traders.
The platform is available via the web, and you can also use its iOS app.
Coins Offered by CoinSmart
CoinSmart supports 9 popular coins:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Tether (USDT)
- Stellar (XLM)
- Cardano (ADA)
How Does CoinSmart Work?
To get started, open an account ($20 bonus).
CoinSmart offers instant verification for most users after they have verified your email, phone number, and other personal details.
If you are unable to be verified automatically, instructions are provided with requests for verification documents.
When your account is verified, you can fund it using Canadian dollars, Euros, and U.S. dollars.
Alternatively, you can deposit crypto from your external wallet and then proceed to buy the crypto you are interested in.
The fees on CoinSmart are competitive and straightforward. There is no fee to deposit fiat via bank wire and bank draft.
Deposit and withdrawal fees apply as follows:
|Funding Method||Deposit Limit||Withdrawal Limit||Fees||Processing Time|
|Interac e-Transfer||$100 minimum; $3,000 maximum||–||0% on $2000+; 1.5% on $100 – $1,999||Same day|
|Bank wire||$10,000 minimum; $5 million maximum||$10,000 minimum; $1 million maximum||0% fee deposit; 1% ($15 minimum) withdrawal||Same day (deposit); 1-5 days (withdrawal)|
|Bank draft||$500 minimum; $5,000 maximum||–||0% fee deposit||Same day|
|Credit/Debit Cards||$100 minimum; $5,000 maximum||–||Up to 6%||Instant|
|Electronic Funds Transfer||–||$50 minimum; $15,000 maximum||1% ($15 minimum)||1-5 days|
In Europe, SEPA deposits and withdrawals are also available.
For crypto withdrawals, these fees apply:
How about trading fees?
CoinSmart charges 0.20% for CAD – crypto trades.
Double trades between coins that do not include Bitcoin cost 0.30%.
Is CoinSmart Safe and Legit?
Yes, CoinSmart is legit. It offers the following features and guarantees:
Smart Guarantee: All deposits are credited to your account on the day it is received and accounts are verified in one day.
Smart Support: It offers 24/7 support via email and live chat.
Smart Security: The platform uses two-factor authentication (2FA) to secure your account. It also keeps a majority of coins offline in cold storage.
CoinSmart is registered as a Money Service Business (MSB) with FINTRAC.
Pros of CoinSmart
The key benefits of this platform include:
- Competitive trading fees
- User-friendly platform for beginners
- Advanced trading tools for professionals and OTC desk
- Supports CAD, USD, and Euros
- Cold storage protection
- 24/7 customer support
- Multiple funding options
- Instant verification and same day deposits
Cons of CoinSmart
- Fiat withdrawals take up to 5 days to process
- Limited crypto coin selection
This CoinSmart review compares it to its top competitors: NDAX and Bitbuy.
CoinSmart vs. NDAX
NDAX was founded in 2018 and is a cryptocurrency exchange platform based in Canada.
It supports 16 coins including Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin, Cardano, and others.
Trading fees on NDAX are low at a maximum of 0.20% and it waives the fees on deposits.
When you open an account and deposit $100 or more, you get a $10 bonus.
Learn more in this NDAX review.
CoinSmart vs. Bitbuy
Bitbuy was one of the first crypto trading platforms in Canada. It is accessible on all devices including desktop and smartphone devices.
The Bitbuy platform supports 9 coins including BTC, LTC, ETH, XRP, XLM, EOS, LINK, and AAVE.
Its trading fee is between 0.1% to 0.20%, and you pay up to 1.50% on fiat withdrawals.
Get a $20 bonus when you open an account and make an initial deposit of $250.
Learn more in the Bitbuy review.
CoinSmart Referral FAQs
When you sign up using our valid CoinSmart referral link, a $20 sign-up promo code is applied to your new account.
CoinSmart is FINTRAC registered and it uses standard industry safety protocols including 2FA, encryption, and cold storage.
No, CoinSmart does not offer Dogecoin at this time. You can use NDAX to purchase Dogecoin in Canada.