CoinSquare is a Canada based cryptocurrency exchange. The exchange provides its customers trading services for a number of cryptocurrencies, including Dash, Bitcoin, and Ethereum. The exchange is available in English and French language.
On the other hand, CoinSquare has made its platform services accessible to investors from the global cryptocurrency market. CoinSquare provides its customers with multiple funding options and accepts fiat currency deposits.
Another main feature of CoinSquare is that the exchange has made security as one of its top priorities. It is said that the exchange uses a similar technology that the New York Stock Exchange uses. CoinSquare has claimed no loss of even a single coin, since 2015.
Once you successfully make an account, you have to go through some further verifications, including providing additional personal data to verify the identity of the account holder further. To complete this step, you need to submit the phone number and proof of identity that can be a license of a driver or a government-issued ID. An account holder with verification can access further banking options when it comes to deposits and withdrawals.
It is important that the verification process is available to Canadian residents only. CoinSquare team claims that they cannot verify those who are non-residents at the current moment.
Security is the number one priority of exchange, so it makes sure that several layers of protection are available in the place. The security measures that CoinSquare implemented are:
- 95% of the funds kept in cold storage
- 2FA Authentication
- Encrypted and Distributed backups
- SSL Encryption
CoinSquare has offered its clients a web-based trading platform, which is straightforward as well as user-friendly. This platform offers traders two ways that can help them trade the market.
Using the “QuickTrade” feature is the easiest and quick way to trade on CoinSquare. With this specific feature, you can pick up the coin that you want to buy and the amount that you need to spend.
Next comes the spot market, which is the second way of digital trading assets on the CoinSquare platform. The user interface is much more complicated for trading on the spots market through the platform, and it has numerous tools and charts that traders can use to help them with useful information about the different digital currencies.
Cryptocurrencies that you can trade on CoinSquare are BTC, BCH, DOGE, DASH, LTC, and ETH.
For spot trading, the Maker-Taker pricing standard is used when it comes to trading fees charged by the platform. The fee for Maker is set at 0.1%, and the Taker fee is set at 0.2%.
In case of charges for QuickTrade, the fees are 0.2% for single conversions; that is when digital assets traded is BTC. For double-conversion trades, the fee is 0.4%.
For deposits, the following fees are applicable:
- Flexepin 2.5%
- Interac Online 2.5%
- Intrac e-Transfer (r) 2.5%
- Bank draft 2.5%
- Wire transfer 0.5%
- Money order 2.5%
For withdrawals the applicable fees include:
- Direct Bank Deposits 1%
- Wire Transfer 0.5%
Deposits & Withdrawals
As CoinSquare is mainly prone to the Canadian financial market and accepts deposits in CAD, the company is bound to the conventional Canadian banking system. It shows that as a client, you have the option of this exchange to make deposits and withdraw funds to the bank account in Canadian dollars.
CoinSquare for deposits supports the following ways:
- Bank draft
- Money order
- Interac e-Transfer
- Interac Online
- Wire Transfer
You can make withdrawals to the bank account with Direct Bank Deposit or Wire transfer.
Is CoinSquare Safe?
CoinSquare is a Canadian based cryptocurrency made in 2015. The exchange provides a gateway to Bitcoin and the same digital assets with more importance on the Canadian financial market. Exceptional security features are available, and it appears to be safe for trading. Professional traders may find the offerings of the company as more than basic.
At least $100 is the minimum deposit required for the confirmation of the bank account on CoinSquare. This exchange accepts clients from the US other than the residents of New York.
CoinSquare is the ideal exchange if you are living in Canada. In case if you are not a Canadian, you may need to look for some other top-tier exchanges.