Coinsquare Review 2024

Our veredict

Coinsquare is a Canadian cryptocurrency exchange that stands out for its user-friendly interface and strong security measures, making it a solid choice for both novice and experienced traders. The platform supports over 40 cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin, and offers multiple funding options such as Interac e-Transfer and wire transfers. Coinsquare’s mobile app is well-regarded for its ease of use, receiving high ratings on app stores. Additionally, the exchange places a strong emphasis on security, employing cold storage for most assets and adhering to regulatory standards set by the Ontario Securities Commission.

However, Coinsquare is not without its drawbacks. The platform has faced criticism for slow withdrawal times and occasional app bugs, which can be frustrating for users. Moreover, while Coinsquare offers a variety of cryptocurrencies, its selection is more limited compared to global exchanges like Binance or Kraken. Furthermore, Coinsquare’s customer support, although accessible via email and live chat, is not available 24/7, which can be a significant inconvenience given the round-the-clock nature of cryptocurrency trading.

Pros

Multiple Funding Options Coinsquare provides various deposit and withdrawal methods, including Interac e-Transfer and wire transfers, offering flexibility to users in managing their funds.
Highly Rated Mobile App The Coinsquare mobile app is well-regarded for its functionality and ease of use, making it convenient for users to trade on the go.
Strong Security Measures The platform employs robust security protocols, including cold storage for assets and two-factor authentication, ensuring a high level of protection for user funds.

Cons

Occasional App Bugs There have been complaints about bugs and performance issues with the mobile app, affecting the overall user experience at times.
Limited Cryptocurrency Selection While Coinsquare supports over 40 cryptocurrencies, it still offers a more limited selection compared to some global exchanges, which may not meet the needs of traders looking for a wider variety of assets.

Threenvest Score

Fees

0.10% (Maker), 0.10% (Taker)

U.S Legal

Yes

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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 Coinsquare?

Coinsquare offers several compelling reasons to choose it for cryptocurrency trading. Firstly, the platform is known for its strong emphasis on security, employing industry-standard protocols like cold storage and two-factor authentication to protect user assets. Additionally, Coinsquare is regulated by the Ontario Securities Commission, which adds a layer of trust and compliance that many users find reassuring.

The user experience on Coinsquare is also highly praised. The platform features a user-friendly interface, making it accessible for beginners while still offering advanced tools for experienced traders. The mobile app is well-rated, providing convenience for users who prefer trading on the go. With support for over 40 cryptocurrencies, Coinsquare ensures a diverse trading environment, catering to various trading preferences and strategies.

Furthermore, Coinsquare offers a range of deposit and withdrawal options, including Interac e-Transfer, wire transfers, and cryptocurrency deposits. These options provide flexibility and convenience, making it easier for users to manage their funds. The platform also has competitive fees, which is an important consideration for cost-conscious traders. Overall, Coinsquare combines security, user-friendly design, and flexibility, making it a solid choice for cryptocurrency enthusiasts in Canada.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert from our site, I recommend Coinsquare for its robust security measures and user-friendly platform. Coinsquare is a great choice for beginners, offering a simple interface and strong customer support to help you navigate the world of cryptocurrency trading. Its regulation by the Ontario Securities Commission adds an extra layer of trust, ensuring your investments are protected. Whether you’re just starting out or looking for a reliable platform to expand your trading portfolio, Coinsquare provides a solid, secure, and accessible environment for your cryptocurrency transactions.

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.