Coinsquare is a Canadian-based cryptocurrency investing platform that offers 10 cryptocurrencies, they are Bitcoin, Ethereum, Bitcoin ABC, Litecoin, Dogecoin, Dash, Ripple, Ethereum Classic & Stellar.
It is the best and only platform for users to invest and trade the BAB (Bitcoin ABC) token.
Coinsquare Quick Trade vs CoinSquare
Coinsquare offers two main trading applications for Canadian investors. The first is called Coinsquare Quick Trade, which is a retail friendly iOS/Android mobile application that allows users to deposit up to $10,000 CAD to buy or sell any crypto listed on the platform.
The other is Coinsquare Advanced, which is a slightly more advanced user interface only available on Web that provides deeper market data, order books and larger CAD deposits.
Below is a breakdown of the fees charged by the Coinsquare platform.
Coinsquare Withdrawal Fees
When withdrawing Canadian Dollars (CAD) there is a steep 2% fee, which is considerably high compared to other exchanges like Newton. Newton does not charge any fees to withdraw or deposit funds into your account.
Coinsquare Deposit Fees
There are two deposit methods offered at Coinsquare and they are 'Interac e-Transfer' and 'Wire Trasnfer'. Both of the methods are free and users will not incur a fee to deposit.
Coinsquare Trading Fees
When using Coinsquare's Instant Buy function, users will incur a 0.2% fee. However, when using their Advanced Trade feature users are only charged a 0.1% fee to trade.
Coinsquare is one of the few cryptocurrency exchanges that offer Live Support on their platform. Additional to this, they can be reached via email at firstname.lastname@example.org.
Coinsquare offers a mobile version of their exchange and it is available on both iOS and Android. The app is similar to the website version and users are able to conduct trades, check their portfolio and see real time prices of cryptocurrencies.
How to withdraw from CAD Coinsquare
Please follow the below steps to withdraw from Coinsquare.
- Click 'Withdraw' in the Menu bar
- Select the currency you wish to withdraw
- Fill in information and press 'Request Withdrawal'
- Check your email to confirm the withdrawal
Is Coinsquare Safe and Secure?
The Coinsquare system is 100% proprietary and has been stress tested and DDoS tested. They have never lost a single coin and maintain a pretty amazing ledger that is managed about 2,346 times per day.
They have 2FA (Two Factor Authentication) enabled and required for all users to use their platform. They also use a security protocol for coin management, and 95% of the coins they control stored offline in cold storage.