The spread can also fluctuate depending on the liquidity of an asset—higher liquidity and trading volume generally result in smaller spreads. This means that when you use Coinberry, you’re buying and selling directly with the platform rather than other individuals. The spread serves as a source of profit for the exchange. A spread in trading refers to the difference between the highest price a buyer is willing to pay (bid price) and the lowest price a seller is willing to accept (ask price). Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things.

This is definitely a fraud attempt to steal honest Canadian citizens money. Attempts to contact customer service have gone unanswered and the only contact point is email. Now my account is restricted and I can no longer access or see any of my assets. My account was shut down but for sucurity reasons. The phone number they provide is a Florida number and is not in service. They know how to take your money but they refuse your withdrawal request.Don’t burn your hard earned money!

• The phone number they provide is a Florida number and is not in service.
• This selection of investment products though has increased over time, and as mentioned, Coinberry is relatively new.
• Another common scam is fake airdrops, which promise free crypto but require you to send tokens first in exchange for more valuable coins.
• Not once did I do any suspicious trading.

My account was shut down but for…

They are also completed covered by as much as $200 million in insurance on your held crypto-assets for which they partnered with the regulated custodian, Gemini Trust Company. They provide cold storage for all of your crypto assets so they are completely secure. When it comes to the security of your assets, the same is true. Here we will take a closer look at this, and the variety of other features and capabilities that you can find when trading with Coinberry. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question.

Coinberry and BitBuy, the worst crypto exchanges one can possibly use

I finally met all of their financial requirements but they still won’t release my money. It’s unfathomable why they demand such massive amount of money each time. After participating in few short trade transactions, when I tried to withdraw the funds, an unexpected change in one character in the address made the funds lost. I do not like withdrawal fees and can only withdrawal particular crypto. They should consider adding a slightly more “advanced” secondary platform for those users who would like to trade in a more professional manner.

How Long Does it Take to Withdraw Coins?

Coinberry simplifies the process of buying and selling cryptocurrencies for Canadian users. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Here you will find good answers to some of the most common questions asked by other traders without needing to contact anyone.

These scams are often so convincing because they replicate the exact logos, branding, and layouts of legitimate exchanges, making it easy to fall for them. NDAX also has low trading fees, staking, and a wide range of cryptocurrencies. There are many Canadian crypto exchanges to choose from. Before trading on a crypto exchange you must provide identity documents so Coinberry, canlink a wallet on the blockchain with someone’s identity. Coinberry and any crypto exchange can track where you have received and sent crypto since crypto trades are recorded on the blockchain and are public.

The 9 Best Crypto ETFs in Canada for December 2025

Virtual money, unlike dollars, francs and other currencies, isn’t backed by any government or central bank. The Federal Trade Commission (FTC) warns consumers that crypto investing comes with many risks, including scams. Savvy New Canadians is one of Canada’s top personal finance platforms. Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians®, has written about money matters for over 10 years. Get access to advanced trading tools. This Coinberry review covers its fees, insurance, pros, cons, and how it compares to Bitbuy, NDAX, and Coinsmart.

Customer Support

You may be contacted out of the blue by someone claiming to be an investment manager, who will promise to grow your money — but only if you buy cryptocurrency. Criminals lure unwary investors into setting up accounts on an online investment platform with the promise of fabulous returns. The Federal Trade Commission (FTC) reported that investment scams, including cryptocurrency investment scams, had the highest median losses of all scams reported in 2024. Competitive low trading fees for crypto and free deposits. Top registered and regulated crypto trading platform for Canadians. After your account is set up, you can fund it using Interac e-Transfer, bank wire, credit card, and crypto.

Coinberry Review: Is It A Scam Or A Legit Crypto Exchange For Canadians?

• These scams are often so convincing because they replicate the exact logos, branding, and layouts of legitimate exchanges, making it easy to fall for them.
• Some people have written reviews of Coinberry stating that their accounts have been blocked.
• This may impact which products or services we write about and where and how they appear on the site.
• Anyway, if you want to venture into crypto currencies, avoid this company like the plague.

However, Coinberry has some of the highest fees we’ve seen of any crypto exchange in Canada. Free deposits and withdrawals is great and you can easily transfer Canadian dollars without worrying about exchange fees. We have signed up to numerous Canadian crypto exchanges and Coinberry asks the most questions related to employment, finances and investing. The verification process at Coinberry is the same as other Canadian crypto exchanges. The platform also offers an autotrading feature, allowing you to set up orders that execute automatically on specific days and times.

Company

After some time, centralized exchanges started charging crazy fees to their users. CoinSmart’s trading fees are just 0.2% and they offer the ability to trade crypto to crypto pairs without having to sell to Bitcoin or Ethereum first. Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual. As someone who has tested over 50 crypto exchanges since 2016, I created a Coinberry account to determine if it’s worth using. I tried to withdraw money from my coinberry account & was told there was suspicious & illegal trading on the account.

Common Crypto Exchange Scams with Coinberry

They are slow to respond and don’t provide any account information when requested. Coinberry has no compliance or customer service. The team at Coinberry seems to be really open to suggestions and if enough traders telegraph interest, they may consider incorporating it. Coinberry’s edge seems to be its emphasis on high security and regulatory compliance. Now that major players like Coinbase have added several coinberry review Altcoins to their roster, Coinberry should at least be trading all of the top 10 coins from coin market cap.

Despite this though, Coinberry makes up for it in their funding / withdrawal fees. This means that the buy / sell price may be higher / lower as it is on other exchange. This means that they are the counter party to your trade and will hence make the price for you.

Scammers might claim there’s an issue with your account and try to trick you into sharing sensitive information like passwords. If you are linked with criminal behaviour you may find your account frozen as well. Many customers express satisfaction with Coinberry’s services, often highlighting the professionalism and helpfulness of the support team in addressing their needs.

Additionally, Coinberry lets you accept crypto payments and tips through Coinberry Pay. Toronto-based Coinberry offers a wide selection of cryptocurrencies, aiming to make crypto more accessible to Canadians. In 2023, Coinberry was acquired by Bitbuy, making the two platforms essentially the same. By using our referral link to sign up and depositing $250 in your account, you can receive a bonus of $50. All of our content is written by Canadian crypto experts, not robots. We use dedicated people and clever technology to safeguard our platform.

Check on my profile for the number and contact for recovery of investment and withdrawal issues. They have great customer services. They sent an email to reset password but once the password has been changed, I still can’t access my account.