Cryptocurrency continues to reshape the financial landscape, and for Canadian investors, finding a secure, user-friendly, and compliant platform is more important than ever. Coinberry has emerged as a notable player in the domestic market, aiming to simplify digital asset investment while maintaining regulatory adherence and robust security.
But does Coinberry truly stand out among the growing number of crypto exchanges in Canada? In this comprehensive review, we’ll explore its features, fees, security protocols, and user experience to help you determine if it’s the right fit for your crypto journey.
What Is Coinberry?
Founded in 2017 by Andrei Poliakov and Evan Kuhn, Coinberry is a Canadian-based cryptocurrency exchange designed with local users in mind. Its mission is clear: make buying and managing crypto as simple and secure as possible for both beginners and experienced investors.
The platform differentiates itself by minimizing the learning curve typically associated with crypto trading. Whether you're purchasing Bitcoin for the first time or building a diversified portfolio, Coinberry offers an intuitive interface that streamlines the entire process.
One of its standout features is the wide range of payment methods available — including credit/debit cards, Interac e-Transfer, and wire transfers. By integrating Interac, which is used by over 250 Canadian financial institutions, Coinberry ensures fast, seamless, and secure fund transfers.
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Key Features of Coinberry
Supported Cryptocurrencies
While Coinberry doesn’t offer the largest selection of altcoins compared to global exchanges, it covers all major digital assets that most Canadian investors seek:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Cardano (ADA)
This curated list ensures users can access high-demand cryptocurrencies without being overwhelmed by obscure tokens. Additionally, Coinberry provides educational resources to help users understand the projects they’re investing in — promoting informed decision-making over speculative trading.
AutoPilot: Automated Crypto Investing
Coinberry’s AutoPilot feature allows users to set up recurring purchases of crypto assets. You can schedule daily, weekly, or monthly buys for any supported coin, enabling dollar-cost averaging (DCA) — a proven strategy to reduce volatility risk.
This tool is ideal for long-term investors who want to build positions over time without manually placing orders.
Coinberry Pay: Accept Crypto Payments
For entrepreneurs and small businesses, Coinberry Pay offers a powerful solution. It enables merchants to accept Bitcoin payments from customers and automatically convert them into Canadian dollars (CAD), which are then deposited directly into their bank accounts.
This eliminates exposure to crypto price swings while still allowing businesses to tap into the growing number of crypto-paying customers. The service integrates smoothly with existing payment systems and supports customization based on business needs.
Account Setup & Verification Process
Creating an account on Coinberry is straightforward:
- Sign Up: Visit the website and click “Register.” Enter your email and create a secure password.
Verification Options:
- Instant Verification: Submit a government-issued photo ID (e.g., driver’s license or passport). Most users are verified within minutes.
- Manual Verification: If instant verification fails, you can upload additional documents such as proof of address. Processing takes 1–3 business days.
- Enable Two-Factor Authentication (2FA): For enhanced security, link Google Authenticator to your account using a QR code. You’ll also receive backup codes for emergency access.
Coinberry complies with FINTRAC regulations, meaning full KYC (Know Your Customer) verification is required — a standard practice for regulated Canadian exchanges.
Mobile App Experience
Coinberry offers dedicated apps for both iOS and Android, delivering full functionality on the go. The mobile interface is clean, responsive, and beginner-friendly.
Key mobile features include:
- Real-time price charts for BTC, ETH, and LTC
- Ability to send crypto or CAD to other users
- QR code scanning for quick transactions
- Full access to AutoPilot settings
Unlike the web version, the app allows peer-to-peer transfers — making it useful not just for investing but also for spending crypto at participating merchants.
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Trading Features
Coinberry caters primarily to retail investors and beginners, rather than professional day traders. The platform lacks advanced tools like margin trading, stop-loss orders, or detailed technical analysis charts.
However, one unique offering sets it apart: short selling.
Yes — Coinberry allows users to short-sell select cryptocurrencies. This means you can profit from falling prices by agreeing to sell an asset at a future date. The process is simple — just one click — and requires no leverage. You must fully fund the position upfront, reducing risk and complexity.
This feature is rare among Canadian exchanges and adds strategic flexibility for users anticipating market downturns.
Fee Structure
Understanding fees is crucial when evaluating any exchange. Here’s a breakdown of Coinberry’s pricing model:
Spot Trading Fees
| Exchange | Trading Fee |
|---|---|
| Binance | 0.1% |
| KuCoin | 0.1% |
| Kraken | 0.16%–0.26% |
| Huobi | 0.2% |
| Crypto.com | 0.2% |
| NDAX | 0.2% |
| Bitbuy | 0.2% |
| Coinberry | Up to 2.5% |
⚠️ Note: Coinberry’s trading fees are significantly higher than competitors — up to 2.5% per trade — which can eat into profits over time, especially for frequent traders.
Withdrawal Fees
- CAD Withdrawals: Free via Interac e-Transfer or wire transfer.
Crypto Withdrawals:
- Bitcoin: 0.0005 BTC (minimum withdrawal: 0.0015 BTC)
- Ethereum: 0.007 ETH (minimum: 0.057 ETH)
- Stellar (XLM): 0.02 XLM (minimum: 26.02 XLM)
While fiat withdrawals are free — a major plus — crypto withdrawal fees are relatively high compared to other platforms.
Security Measures
Security is a top priority at Coinberry. The platform employs multiple layers of protection:
- Institutional-grade encryption for all data and transactions
- Cold storage for the majority of user funds
- Partnership with Gemini Trust Company LLC™, a regulated custodian providing up to $200 million in insurance coverage
- Internal fraud protection against employee misconduct
These measures ensure your assets are safeguarded from both external cyber threats and internal risks.
Customer Support
Coinberry offers several support channels:
- Phone: Toll-free line available Monday–Friday, 9:30 AM – 9:00 PM EST
- Email: [email protected]
- Contact Form: Available on their website
- FAQ Section: Covers common topics like deposits, withdrawals, and account verification
- Social Media: Active presence on Facebook and Twitter for public inquiries
While they lack live chat support — a downside for urgent issues — their phone and email response times are generally prompt during business hours.
Pros and Cons Summary
✅ Advantages
- Beginner-friendly interface
- Free CAD deposits and withdrawals
- Supports Interac e-Transfer
- AutoPilot for automated investing
- Short-selling capability (rare in Canada)
- Fully compliant with FINTRAC
- Strong security and insurance coverage
- Mobile app with P2P transfer functionality
❌ Drawbacks
- High trading fees (up to 2.5%)
- Limited altcoin selection
- No live chat support
- No advanced trading tools
Frequently Asked Questions (FAQ)
Is Coinberry legal in Canada?
Yes, Coinberry operates legally across all Canadian provinces and territories. It is registered with FINTRAC and adheres to all federal anti-money laundering (AML) regulations.
Is Coinberry trustworthy?
Absolutely. Coinberry is a regulated exchange approved by FINTRAC and has partnered with Gemini for asset custody. Its transparency and compliance efforts make it a reliable choice for Canadian users.
Can I withdraw money from Coinberry?
Yes. You can withdraw CAD via Interac e-Transfer or wire transfer at no cost. Crypto withdrawals are also supported but come with network fees.
Does Coinberry require KYC verification?
Yes. As a regulated financial entity, Coinberry requires full identity verification (KYC) before you can trade or withdraw funds.
How does Coinberry’s short-selling work?
Coinberry allows you to short-sell select cryptocurrencies without leverage. You must fully fund the position upfront, and profits/losses are settled in CAD.
Is there a mobile app for Coinberry?
Yes, Coinberry offers fully featured apps on both iOS and Android devices, including trading, AutoPilot setup, and peer-to-peer transfers.
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Final Verdict: Is Coinberry Worth It?
Coinberry excels as an entry-level platform for Canadians new to cryptocurrency. Its user-friendly design, free fiat transactions, and educational focus make it ideal for beginners looking to buy Bitcoin or Ethereum safely.
However, its high trading fees and limited altcoin support may deter active or advanced traders. If you're focused on cost-efficiency or want access to a broader range of digital assets, global exchanges might offer better value.
For those prioritizing simplicity, compliance, and unique tools like short-selling and AutoPilot, Coinberry remains one of Canada’s most accessible and secure crypto gateways in 2025.
Whether you're taking your first step into crypto or running a small business accepting digital payments, Coinberry delivers a solid foundation — just be mindful of its premium pricing structure.
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