It’s unfathomable why they demand such massive amount of money each time. I finally met all of their financial requirements but they still won’t release my money. They now tell me because of previous potential suspicious activity they lowered my credit score to 60 and they won’t release my money until I bring my score up to 100. To do this, I have to deposit $5000 for every point needed to reach 100 which means I need to deposit another $200,000. 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 tried to withdraw money from my…coinberry scam
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. From the dashboard, you can view your portfolio, access simple charting, and manage your referrals. While Coinberry doesn’t offer many advanced features, this simplicity makes it an ideal choice for beginner traders who want an easy-to-navigate platform without overwhelming options. We used this to buy Bitcoin, and Coinberry provided a preview of the order before submission. The total fees, including the spread, came to $3.00, which equals a 2.5% fee—relatively high.
Coinberry’s fees
Have been using Coinberry for the past few months and it has been reliable, easy to use and trustworthy. Security and verifications upon every sign in and transaction is excellent. I even lost money while they are trying to process my transaction which never took place. I would let all my family and friends know that this is one of the worst Canadian Crypto platform to use. This website, which appears to provide banking, money lending, stock trading, and other financial services, is hosted on a shared server.
We identified an SSL certificate meaning that the data shared between your browser and the website is encrypted and cannot be read by others. Unfortunately scammers increasingly also use SSL certificates so it is no guarantee that you are visiting a reliable website. This can be considered low in relation to other websites from the website’s country. If you think this website should be very popular, please invest additional time in researching the company as this is suspicious.
Low Fee
- Coinberry and the user’s wallet do not share a common “taxable event,” hence the exchange of tokens or currencies between the two does not trigger taxation.
- You will first need to go through the KYC process and prove your identity.
- Coinberry is a simple and beginner-friendly platform, ideal for Canadians starting their crypto journey.
- If you are after a crypto exchange with more coins, you can try out Binance with over 600+ coins, or KuCoin, with over 700+ coins.
In general, the older the website the more trustworthy it becomes. However, scammers sometimes buy existing websites and start doing their evil thing, so please make sure you check for other scammy attributes as well. E-Transfer makes it easy to add funds to your account, and the process only requires a few simple steps to finish. After the e-Transfer has been successfully configured, the remaining amount will thereafter be transferred into the account you have established with Coinberry. As was previously indicated, signing up with Coinberry simply takes a few moments of your time.
Account Creation and Verifications:
Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Through this model, Coinberry can emulate OTC services that focus on minimizing slippage during high-volume trades. As a result, some might assume the platform is more suitable for everyday investors and crypto enthusiasts than institutional investors and crypto whales. Most importantly, the availability of well-known cryptocurrencies makes it a worthwhile platform to explore. To redeem your exclusive referral link, log into your Coinberry account and select “Invite friends and earn $30.” Then, send your unique link to a friend so they can sign up for a Coinberry account. Founded in 2017 by Andrei Poliakov and Evan Kuhn, Coinberry makes it easy for Canadians to deposit fiat and trade fiat into crypto.
If the instant verification process doesn’t go as smoothly as expected, don’t worry! Creating an account and going through the verification process on Coinberry can seem like a daunting task. Here is a step-by-step guide to creating an account and completing verifications on Coinberry. An SSL certificate is used to secure communication between your computer and the website. A free one is also available and this one is used by online scammers. Still, not having an SSL certificate is worse than having one, especially if you have to enter your contact details.
It only takes a $50 portion of Bitcoin and a few minutes of your time to create an account, acquire cryptocurrency and start mining or trading. They are also backed by a form of insurance that protects against financial losses due to dishonest acts and unethical behavior from Coinberry employees. Coinberry is an impressive cryptocurrency exchange built for Canadians, making it easy to buy crypto directly with CAD. These are the top 3 reasons why I recommend Coinberry to Canadian crypto investors.
- If the instant verification process doesn’t go as smoothly as expected, don’t worry!
- You will need to provide your personal details as part of the registration process.
- If you’re using a desktop you’ll be prompted to scan a QR code with your phone which will open a secure web link.
- We use dedicated people and clever technology to safeguard our platform.
Competitive Bitcoin Prices
We are therefore suspicious if a very young website has a lot of reviews. All positive coinberry review reviews without much background information can be fake. Our article How to Recognize Fake Reviews offers several tips to separate real from fake reviews. Coinberry also offers excellent customer service with real agents you’re able to talk to on the phone if you have any problems. With Coinberry, you’re able to deposit with many payment methods but the best one is through Interac-eTransfers where you can almost instantly get your funds on the exchange to be traded.
Therefore the step is to launch google authenticator, choose “Scan Barcode,” and use the screen of your Coinberry device to scan your QR code. You have the option of manually inputting your personal information or uploading a picture ID card issued by the government, such as a driver’s license, in order to validate your account. Simply click on it and then come up with a username and password for yourself. You may also get in touch with them by e-mail if live chatting isn’t really your thing. Because of this, Coinberry is an excellent alternative for traders with less expertise. In addition to this, it has formed a partnership with Gemini Trust Company, which is a licensed custodian, in order to store the majority of the coins on the site offline.
Coinberry Review Final Thoughts
In 2019, Coinberry officially partnered with the Town of Innisfil. This exchange focuses heavily on security so if that’s what you’re after, you won’t go wrong with Coinberry. Currently, they have Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Stellar Lumens (XLM). To use Coinberry, you can deposit CAD and instantly start trading.
This is a platform used by scammers
Coinberry goes the extra mile by including a variety of altcoins in its repertoire. This expands your investment opportunities and allows you to explore exciting projects beyond the mainstream options. With altcoins like XRP (Ripple), LTC (Litecoin), ADA (Cardano), and more, Coinberry ensures that you won’t just be blindly picking projects and hoping for the best. While the number may not be as extensive as some other exchanges, Coinberry covers the most popular choices that beginners are often interested in, such as BTC (Bitcoin) and ETH (Ethereum). Founded in 2017, Coinberry has quickly become a major force in the Canadian exchange scene – partnering with many official government bodies in Canada.
