CoinSmart Review 2024

Our veredict

CoinSmart is a well-regarded cryptocurrency exchange based in Toronto, Canada, known for its user-friendly platform and compliance with stringent security standards. The exchange is registered with Canadian regulatory authorities, including FINTRAC, and has an FIU license in Estonia, which ensures a high level of trust and security for its users. One of its standout features is the SmartGuarantee, which promises instant deposits, quick verifications, and timely withdrawals, enhancing the overall user experience. Additionally, CoinSmart supports multiple cryptocurrencies, offers competitive trading fees, and provides a mobile app for convenient on-the-go trading.

However, there are some drawbacks to consider. CoinSmart’s mobile app has received negative reviews for bugs and slow performance. Additionally, the exchange does not support staking or lending rewards, which are popular features among other exchanges. While CoinSmart offers a good range of popular cryptocurrencies, it does not support as many altcoins as some larger exchanges like Binance or Kraken. Despite these cons, CoinSmart remains a solid choice for Canadian users and those in select international markets looking for a secure and user-friendly trading platform.

Pros

1. Instant Verifications CoinSmart offers an instant verification process, allowing users to start trading quickly without long waiting periods for account approval.
2. Competitive Trading Fees The platform charges low trading fees of 0.20% for single trades and 0.30% for double trades, making it cost-effective for frequent traders.
3. 24/7 Live Support CoinSmart provides round-the-clock customer support via live chat, email, and phone, ensuring users can get help whenever they need it.

Cons

Threenvest Score

Fees

0.20% (Maker), 0.30% (Taker)

U.S Legal

Yes

Why can you trust Threenvest?

At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose CoinSmart?

Choosing CoinSmart as your cryptocurrency exchange offers several compelling advantages, particularly for those focused on the crypto sector. Firstly, the platform provides a highly secure environment for trading digital assets. CoinSmart employs robust security measures such as two-factor authentication, cold storage solutions from BitGo, and compliance with regulatory standards in Canada and Estonia. These features ensure that your investments are well-protected and that the exchange operates transparently and securely.

Secondly, CoinSmart is designed to be user-friendly, making it an excellent choice for both beginners and experienced traders. The platform offers instant account verification, a straightforward interface, and educational resources to help new users navigate the world of cryptocurrencies. Advanced traders benefit from features like real-time charting, multiple order types (market, limit, and stop-loss), and an over-the-counter (OTC) trading desk for large volume trades. These tools and resources make CoinSmart a versatile platform that can grow with you as you gain more experience and confidence in trading.

Lastly, CoinSmart’s commitment to customer satisfaction is evident through its 24/7 customer support and the unique SmartGuarantee feature, which ensures quick deposits, rapid account verification, and timely withdrawals. This focus on reliability and customer service means that users can trade with confidence, knowing that any issues they encounter will be promptly addressed. The combination of these features makes CoinSmart a robust and reliable choice for anyone looking to trade cryptocurrencies efficiently and securely.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert from our site, I highly recommend CoinSmart for its excellent blend of security, user-friendliness, and advanced trading features. Whether you’re new to cryptocurrency trading or have considerable experience, CoinSmart offers robust security measures, such as two-factor authentication and cold storage, ensuring your assets are well-protected. Additionally, the platform’s intuitive design and instant verification process make it accessible for beginners, while advanced traders can benefit from features like real-time charting and multiple order types. The 24/7 customer support and SmartGuarantee further enhance the reliability of this exchange, making it a solid choice for anyone looking to trade cryptocurrencies effectively and securely.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.