Coinsquare Referral Code 2022: Get a $10 Bitcoin Bonus

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by Enoch Omololu, MSc (Econ)


Advertiser Disclosure

Coinsquare is one of the oldest cryptocurrency exchange platforms in Canada.

Founded in 2014, the platform supports the trading of several digital currencies including Bitcoin, Dogecoin, Ripple, Stellar, and Ethereum.

When you open a new account using our Coinsquare referral code (8jD1M) or referral link, you receive $10 worth of Bitcoin after depositing at least $100.

Read on to learn about how Coinsquare works.

How Coinsquare Works

Coinsquare caters to both newbies and experienced traders.

If you are new to crypto, you can use its “Quick Trade” platform to place fast one-click trades.

If you are an experienced Crypto trader, you can use the “Advanced Trade” option and gain access to advanced charting tools and order types.

If you are buying a lot of crypto’s, you can use Coinsquare Wealth to access the OTC (Over-the-Counter) market.

To get started on Coinsquare, sign up here.

You will need to verify your phone number and your identity. Typically, the verification is instant, however, in some instances, you may need to upload copies of supporting documentation (e.g., government-issued ID and/or utility bill).

When your account is fully verified, you can fund it using Interac e-Transfer, bank wire transfer, or crypto.

The coins available on Coinsquare are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Bitcoin Cash (BCH)
  • Bitcoin Cash SV (BSV)
  • Dash (DASH)
  • Ripple (XRP)
  • Ethereum Classic (ETC)
  • Stellar (XLM)

Related: Best Crypto Wallets.

Best Crypto Exchange in Canada Offer

CoinSmart Crypto Exchange

coinsmart logo

Top crypto exchange in Canada

Great for new & advanced traders

0.20% trading fee

Get a $50 bonus when you deposit $200

Coinsquare Referral Program

Coinsquare gives you $10 worth of BTC when you sign up using a valid referral link or code (8jD1M).

For the bonus to apply, you must verify your account and deposit at least $100 in fiat.

Coinsquare users also earn rewards when they invite others using their referral link.

For each friend that joins through your referral link, you get a $10 BTC bonus. In addition, you will receive a percentage of the commissions they pay.

Coinsquare Fees

Trading fees on Coinsquare are as follows:

  • Bit Markets: 0.10% to 0.20%
  • Quick Trade: 0.20% to 0.40%

There are no fees to deposit Canadian dollars.

For U.S. dollar funds, deposit fees range from 0.25% to 0.50%.

When withdrawing CAD fiat, you pay:

  • Bank deposit: 2%
  • Wire transfer: 2%
  • Wealth wire: 1%
  • Rushed wire: 2%

Related: Wealthsimple Crypto Referral Code

Pros of Coinsquare

  • Supports 10 coins
  • Versatile platform for newbies and pros
  • Supports CAD and USD fiat
  • Available on desktop and mobile devices
  • Offers instant verification for new clients

Cons of Coinsquare

  • Costly withdrawals fees for fiat
  • Trading fees are not the cheapest (see Coinsmart)
  • Has been penalized by the government in the past

Is Coinsquare Safe and Legit?

Cryptocurrency trading is very risky and you could lose your entire capital!

That said, Coinsquare is a registered Money Service Business in Canada subject to FINTRAC regulations.

As per its website, it has a “95% cold storage policy on all digital currencies”.

If you are serious about crypto, you probably want to own your own cold wallet e.g. Ledger Wallet.

Some Coinsquare execs were accused of conducting wash trades between July 2018 and December 2019. They were fined by the Ontario Securities Commission and have since resigned from the company.

Crypto Trading App Referral Bonus

You earn welcome bonuses when you open an account at these crypto trading platforms and meet the eligibility criteria:

Coinsmart: Get a $50 bonus when you fund with $200. Coinsmart has a competitive fee schedule and supports multiple crypto coins. Read our review to learn about the best crypto exchange in Canada.

Wealthsimple Crypto: This platform supports 50+ coins and has a 1.5% to 2% trading fee. You get a $25 bonus after making an initial deposit of $150 or more. Read our review.

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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