CoinSmart alternatives

Compare the best alternatives to CoinSmart for Canadian crypto traders.

By   |   Updated 15 Nov 2023

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Comparing CoinSmart alternatives

Bitbuy

On website

Featured

Bitbuy

Highlights

  • CoinSmart is a slightly cheaper exchange than Bitbuy and has a bigger selection of cryptocurrencies to trade.
  • Bitbuy and CoinSmart both provide offline cold storage facilities for security.
  • Both exchanges feature an intuitive interface that’s easy to use, even for beginners.

Pros

  • You can earn a signup bonus.
  • Competitive trading fees.
  • Assets are insured and held in cold storage.
  • User-friendly website and mobile app.

Cons

  • Deposit and withdrawal fees apply.
Coinsquare

On website

Coinsquare

Highlights

  • Coinsquare's QuickTrade feature instantly makes trades between any two currencies, whether it's XRP to Ethereum, or Litecoin to EUR.
  • Has one of the most secure trading platform.
  • Enjoy low, transparent fees and no trading minimum.

Pros

  • Quick verification process.
  • 820+ trading pairs available.
  • Has a referral program.

Cons

  • A limited selection of cryptocurrencies.
NDAX

On website

NDAX

Highlights

  • CoinSmart offers a wider range of cryptocurrencies for trading than NDAX, but it’s cheaper to trade with NDAX. NDAX does not charge a deposit fee either.
  • Cold storage facilities are employed by both Coinsmart and NDAX.
  • Both exchanges have a simple interface, making either suitable for beginners.

Pros

  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.

Cons

  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents
Coinbase

On website

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Coinbase

Highlights

  • Coinbase has a wider choice of tradable cryptocurrencies compared to what’s available on CoinSmart.
  • Coinbase's fee schedule is somewhat unclear.
  • CoinSmart and Coinbase are suitable for new and experienced traders.
  • Both exchanges are FINTRAC-registered and use offline cold storage for their user’s digital assets.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.

Cons

  • Fees are higher compared to other exchanges.
Newton

Newton

Highlights

  • Newton is not as cheap as CoinSmart in terms of trading and withdrawal fees, but Newton offers more choice of cryptocurrencies than CoinSmart.
  • Coinsmart and Newton both use cold storage facilities for user’s digital assets.
  • Both exchanges are suitable for beginners.

Pros

  • Clean user interface.
  • No commission fees.
  • Competitive spreads.
  • Earn $25 on its referral program.

Cons

  • Only accepts CAD deposits.
  • Verification times can be slow.
Shakepay

Shakepay

Highlights

  • CoinSmart has a broader selection of cryptocurrencies compared to what’s available on Shakepay.
  • Shakepay charges a spread on trades and there are no fees for deposits or withdrawals either.
  • Both exchanges are FINTRAC-registered and use cold storage. Either is suitable for the beginner trader.

Pros

  • Free transfers through Interac e-Transfer.
  • Commission-free.
  • Earn rewards.

Cons

  • Supports only Bitcoin and Ethereum.
  • Only available to Canadian residents
Wealthsimple Crypto

Wealthsimple Crypto

Highlights

  • Sign up in minutes with $0 minimum.
  • No fees to deposit or withdraw funds from the exchange.
  • Digital assets held in cold storage facilities operated by Gemini Trust Company with $200M in insurance coverage.

Pros

  • No commission.
  • No fees for transferring funds.
  • Availability of educational resources.
  • Perfect for beginners.

Cons

  • Accepts only 2 fiat currencies.
  • High spreads may apply.
Kraken

On website

Kraken

Highlights

  • Kraken’s selection of cryptocurrencies is better than what’s tradable on CoinSmart. Kraken is cheaper.
  • Both exchanges are suitable for beginners with well-designed trading experiences.
  • Kraken and CoinSmart are both FINTRAC-registered.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
Gemini Exchange

Gemini Exchange

Highlights

  • Gemini Exchange makes it simple to research the crypto market, buy, and build a diverse portfolio.
  • Set recurring buys and dynamic price alerts.
  • All crypto held online in Gemini's exchange wallet is insured with leading insurance providers and kept in cold storage.

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.
Netcoins

Netcoins

Highlights

  • Create an account and get verified in minutes.
  • Fund your account with $0 fees through a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.
  • With price alerts, it keeps you in the loop on those big moves.

Pros

  • Fast verification process.
  • Free cash deposits and withdrawals
  • Competitive trading fee.
  • Supports CAD and USD funding.

Cons

  • Limited selection of cryptocurrencies.
Coinmama

On website

Coinmama

Highlights

  • Buy bitcoin, ethereum and other popular cryptocurrencies.
  • Fund your account with a credit card, debit card, Apple Pay, or bank transfer.
  • Place your order and get your coins instantly. No deposits required.

Pros

  • Start with as little as $50.
  • Accepts multiple types of payment options.
  • High spending limits.

Cons

  • Fees are higher compared to other providers.
  • Limited cryptocurrency selection.