Coinberry Review 2023: $50 Bonus Offer

Coinberry is a cryptocurrency platform in Canada. It supports popular coins like Bitcoin, Ethereum, Stellar, Ripple, Cardano, and several others.

If you are one of those folks looking to jump aboard meme coins like Dogecoin, Coinberry offers it as well.

In addition to Coinberry, you can buy and sell crypto using platforms like Coinsmart, Netcoins, and Wealthsimple Crypto.

This Coinberry review covers its pros, cons, fees, insurance, referral program, and more. You also learn how to get a $50 offer from CoinSmart.

What is Coinberry?

Coinberry was founded in 2017 and has its headquarters in Toronto.

It is registered with FINTRAC as a Money Service Business with license #M18502412.

In 2019, Coinberry partnered with the Town of Innisfil in Ontario to allow the payment of property taxes using Bitcoin. It also has a similar arrangement with The City of Richmond Hill.

The platform is available on desktops via a web interface and has dedicated Coinberry mobile apps for iPhones and Android devices.

Coinberry was acquired by WonderFi for $38.5 million in 2022.

How Coinberry Works

New users can easily open an account and start trading within minutes.

To get started, sign up here (the link automatically applies a $30 bonus after you verify your account and trade at least $50).

The verification process includes a standard KYC with instant verification for most customers.

If manual verification is required, you may need to upload a government-issued ID (e.g., driver’s license or passport.

Proof of address and selfie verification may also be required.

After your account is set up, you can fund it using Interac e-Transfer, bank wire, credit card, and crypto.

Crypto Coins on Coinberry

The cryptocurrencies available on Coinberry Canada are:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Stellar (XLM)
• Cardano (ADA)
• Dogecoin (DOGE)
• Curve (CRV)
• Polkadot (DOT)
• Synthetix (SNX)
• Yearn.Finance (YFI)
• Aave (AAVE)
• Balancer (BAL)
• Uniswap (UNI)
• Basic Attention Token (BAT)
• Chainlink (LINK)
• Compound (COMP)
• Kyber Network (KNC)
• Tron (TRX)
• Tezos (ETZ)
• Cosmos (ATOM1)
• OMG Network (OMG)
• Flow (FLOW)
• Decentraland (MANA), and more

It recently delisted Ripple XRP.

Coinberry Fees

The trading fees on Coinberry are based on the price spread at the time you place a trade and vary between 0% and 2.5%.

Fiat deposits and withdrawals are free.

Crypto deposits are also free; however, you pay a fee when you withdraw crypto as follows:

• Bitcoin: 0.0005 BTC
• Ethereum: 0.0063 ETH
• Litecoin: 0.02 LTC

Funding Method	Deposit	Withdrawal	Fees	Processing Time
Interac e-Transfer	$10,000 maximum	$100 minimum, $5,000 maximum	$0	Instantaneous
Wire Transfer	$10,000 minimum, $500,000 maximum	$10,000 minimum, $500,000 maximum	$0	2-3 business days

Pros and Cons of Coinberry

Some of the benefits and downsides of this platform include:

Pros

• Instant verification for most customers
• Insured by Lloyd’s
• Digital assets are held in cold storage by Gemini Trust Company LLC
• One-click trades for newbie traders
• Offers automatic bitcoin purchases (dollar-cost averaging)
• No fees to deposit or withdraw fiat

Cons

• Price spread can mean a fee of up to 2.50%
• Basic trading platform with no limit order book or advanced charting tools for experienced traders
• Supports only CAD fiat
• $50 minimum trading deposit
• Can only withdraw four coins

Is Coinberry Legit?

Coinberry appears to be a legitimate company that is registered with the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC) as a Money Service Business.

In 2021, it was granted relief by the Ontario Securities Commission to offer crypto-based products and services across Canada.

In 2020, Coinberry acquired a Financial Institution Bond that was underwritten by Llyod’s of London. The information available indicates that this coverage has a limit of $1 million CAD per claim.

Also, it has partnered with Gemini Trust Company (a regulated custodian) to keep most coins on the platform in cold storage. Gemini has $200 million in custody insurance.

Related: Best Crypto Wallets in Canada.

Coinberry Referral Program

Coinberry has a referral that pays you $30 when you sign up here and trade at least $50.

You can also share your own referral link or referral code (3b28a1568bc) with others on social media, and you both get $30 after they complete verification and trade $50 or more.

$50 BTC Offer

For access to a crypto exchange with all the bells and whistles, check out CoinSmart. It offers a $50 bonus when you deposit $200 or more.

Coinberry vs. Bitbuy vs. NDAX

See how Coinberry compares to Bitbuy, NDAX, and Coinberry below.

Crypto Platforms	Coinberry	Bitbuy	NDAX	Netcoins
Coins Offered	BTC, ETH, XLM, LTC, BCH, UNI, BAL, BAT, and more	BTC, ETH, LTC, BCH, XLM, EOS, AAVE, and more	BTC, ETH, XLM, LTC, EOS, LINK, USDT, DOGE, ADA, XRP, UNI, AAVE, FTM, COMP, and more	BTC, BCH, ETH, QCAD, LTC, USDT, XRP
Funding Options	Interac e-Transfer, bank wire, credit card, crypto	Interac e-Transfer; bank wire	Interac e-Transfer, bank draft, and bank wire	Interac e-Transfer, bank wire, bill payment, credit card
Fees	Spread (up to 2.50%); free fiat deposits and withdrawals	Up to 1.50% trading fee; up to 1.50% fees for deposits and withdrawals	0.20% trading fee; free deposits; flat-rate fee for withdrawals	0.5% trading fee; free fiat deposits and withdrawals
CIPF/CDIC Insurance	No	No	No	No
Security policy	Cold Storage via Gemini	95% cold storage; 2FA	95% cold storage, 2FA	2FA; cold storage
Referral Bonus	Get a $30 bonus after trading $50+	–	–	$25 after trading $100 worth of crypto
Learn more	Visit Coinberry	Read review	Read review	Visit Netcoins

Related: Coinberry Referral Code.

Have you used any of the featured crypto platforms featured? Let us know about your experiences in the comments.

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.