Coinberry, a Canadian cryptocurrency exchange, gained traction before its 2023 acquisition by Bitbuy—now its parent company. This integration means Coinberry no longer accepts new sign-ups, redirecting users to Bitbuy. Below, we analyze Coinberry’s historical features, fees, and performance for educational reference.
Key Features of Coinberry
Supported Cryptocurrencies
Coinberry offered 20+ assets, including:
- Major Coins: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC)
- Altcoins: Cardano (ADA), Polkadot (DOT), Dogecoin (DOGE)
- DeFi Tokens: Aave, Chainlink, Uniswap
User Experience
- Autotrading: Scheduled purchases via dollar-cost averaging (DCA).
- Coinberry Pay: Allowed merchants to accept crypto payments, auto-converted to CAD.
- Mobile Apps: Rated 4.5/5 (iOS) but faced issues on Android (3.1/5).
Fees and Costs
| Fee Type | Details |
|--------------------|----------------------------------|
| Deposit/Withdrawal | 0% for CAD |
| Trading Spread | 0%–2.5% (higher than competitors)|
| Crypto Withdrawals | Network mining fees applied |
Example: A $120 BTC purchase incurred a $3 (2.5%) fee—significantly costlier than Newton’s 0.9%.
Security Measures
- Cold Storage: 97% of assets held offline.
- Compliance: FINTRAC-registered and PIPEDA-compliant.
- Insurance: $200M policy via Gemini Trust.
Limitations
- No Advanced Features: Missing staking, OTC desks, or card services.
- High Fees: Spreads up to 2.5% discouraged active traders.
Alternatives to Coinberry
| Exchange | Trading Fees | Features |
|----------|-------------|-------------------|
| Bitbuy | 0.1%–1.0% | OTC desk, robust security |
| NDAX | 0.2% | 35+ coins, staking |
👉 Compare top Canadian exchanges
FAQ
Q: Is Coinberry still operational?
A: No—existing accounts migrated to Bitbuy; new users must sign up there.
Q: How safe was Coinberry?
A: Very secure, with cold storage and insurance policies.
Q: What were Coinberry’s biggest drawbacks?
A: High fees and limited coin selection compared to rivals.
Final Verdict
Coinberry was a legit but expensive option for beginners. Today, Bitbuy and NDAX offer better fees and features for Canadian traders.
For further comparisons, check our detailed guides on Canadian crypto exchanges.