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If you’re looking to start trading cryptocurrencies using the Coinberry platform, this post covers how to get started and receive a $20 welcome bonus using a Coinberry referral code.
Then, it’ll provide a full Coinberry review covering its best features, pros and cons, fees and how it compares to some of the other popular crypto platforms in Canada.
Coinberry Referral Code
New Coinberry users can earn a welcome bonus of $20 when they sign up using this Coinberry referral code “9f0437d0f0f” or by clicking this referral link. To qualify, simply verify your email address, mobile number and identity, then trade a minimum of $50.
You can also earn some money by referring your friends to Coinberry. Each friend will also need to trade a minimum of $50 for both of you to get the bonus.
Coinberry Referral Program
The Coinberry referral program offers one of the best payouts in Canada. It lets you earn a referral bonus of $20 when you sign up using a Bitbuy referral link or enter a promo code like this one: 9f0437d0f0f, and trade just $50.
This trade requirement is low compared to some of the other crypto platforms, so you can qualify for the bonus earlier at Coinberry.
In addition, Coinberry users can make money by referring other users to the crypto exchange. Learn how it works below.
How the Coinberry referral works
Getting started with making money through the Coinberry referral program is easy.
- Sign up for a new account and provide all necessary information
- Verify your email, mobile number and your identity.
- Deposit and trade a minimum of $50 to qualify for the Coinberry referral bonus of $20
- From the dashboard, click on the icon to get your unique Coinberry referral code or referral link
- Share with your friends to start earning the bonus and trade credit*
- Both parties will receive the bonus after they trade a minimum of $50
In addition to the bonus of $20 per referral, you’ll also get a trade credit of up to $475 depending on the number of people you refer. You’ll receive a credit of $25 when you refer the first 5 people and up to $300 for referring 30 people.
|No of Referrals||Bonus||Trade Credit|
That means if you manage to refer 30 people to Coinberry, you would have earned a total of $1,075 in total referral payments: $600 in bonuses and $475 in trade credit.
Coinberry is a Canadian digital currency trading platform that prides itself as the “safest and most secure” crypto platform in Canada. It was founded in 2017 and is registered with FINTRAC as a Money Service Business (MSB).
In 2019, Coinberry made history by becoming the first digital currency platform to partner with a municipal government for tax processing and collection when it partnered with the Town of Innisfil and City of Richmond Hill.
Some of the key features of Coinberry include:
- Supports the trading of 6 digital coins
- Instant ID verification in just a few minutes
- Federally registered and regulated
- Great affiliate program
- Automatic crypto investing through the AutoPilot feature
What cryptocurrencies are available on Coinberry?
Coinberry currently supports 6 digital coins on its platform. It’s not up to some of the other Canadian crypto exchanges with 10+ cryptocurrencies, but it supports the major ones.
The available cryptocurrencies at Coinberry are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- XRP (XRP)
- Stellar (XLM)
- Bitcoin Cash (BCH)
If you’re looking to trade Dogecoin or one of the other popular digital coins, they’re unfortunately not available at Coinberry for now.
Want to start accepting bitcoin payments, tips or donations? Coinberry Pay lets you do just that. The service works with businesses, individuals, charities and municipalities to provide a simple solution for bitcoin payment processing.
Some of the features of Coinberry Pay includes easy accounting and tax reporting tools, email and sms invoices, 24/7 access via web or mobile and so on.
Getting started is simple and straightforward. You can get your unique link after sign-up, share or put on your website, and start accepting bitcoin as payments.
CAD deposits and withdrawals are free on Coinberry. There are 2 funding and withdrawal options with different minimum and maximum amounts, and varying processing times. Interac e-Transfers are processed immediately, but wire transfers take between 2-3 business days.
|Funding / Withdrawal Method||Minimum||Maximum||Processing Times|
|Interac e-Transfer Funding||–||$10,000||Immediate|
|Wire Transfer Funding||$10,000||$500,000||2 – 3 business days|
|Interac e-Transfer Withdrawals||$100||$5,000||Immediate|
|Wire Transfer Withdrawals||$10,000||$500,000||2 – 3 business days|
Depositing any of the crypto supported on Coinberry is free, but there’s a Crypto withdrawal fees to cover the mining costs. The charges are flat and remains the same irrespective of how much you withdraw.
|Cryptocurrencies||Crypto Withdrawal Fees|
Coinberry Trading Fees
The trading fees at Coinberry are charged as a margin between the prices you’re quoted and the prices from Coinberry’s liquidity providers. This is usually called a spread and many other crypto apps, especially the no-commission exchanges, rely on this fee model.
According to Coinberry, the spreads will usually be between 0-2.5%. I checked the margins on May 20th, 2021 and it was about 2.29%.
Pros and Cons of Coinberry
Pros of Coinberry
- Zero fees for CAD deposit and withdrawals
- Supports instant identity verification
- Regulated crypto trading platform
- Intuitive and easy to follow platform for all beginners
- Mobile access through the iOS and Android apps
- Cold storage for most of its holdings through Gemini
- Backed by Lloyd’s Financial Institution Bond
Cons of Coinberry
Here are some of the drawbacks of Coinberry:
- Relatively higher margin on trades
- Some of the popular digital coins are not supported
- Crypto withdrawals not allowed for some coins
- Limited trading tools for more experienced users
- Requires a minimum starting amount of $50
Is Coinberry Safe and Legit?
As a registered Money Service Business (MSB), Coinberry is regulated by FINTRAC and operates under the relevant Canadian laws, so it’s a legit company.
Also, it keeps the bulk of its crypto holdings in cold storage provided through Gemini, a regulated crypto exchange and custodian based in the USA. Coinberry is also insured by Lloyd’s for added comfort.
But know that the best way to keep your digital assets safe is by storing them in a cold wallet of your own. That is, you should withdraw them out of the crypto exchange after the purchase.
You may choose between an hardware and a software wallet, but hardware wallets are the most secure way to safeguard your digital coins. Luckily, you can get some great ones for less than $100 in Canada from Ledger and Trezor, 2 of the best providers.
Check them out through the links below:
Coinberry vs Other Crypto Platforms
Here’s how Coinberry compares to some of the other popular crypto platforms available to Canadians:
Coinberry Vs Coinbase
Coinbase is the one of the largest cryptocurrencies exchange worldwide and the number one choice for US crypto traders.
It supports a wide selection of digital coins, way more than the ones offered by any of the Canadian crypto platforms.
The big con, however, is that Canadians can only fund their accounts using a debit or credit cards for up to 3.99% in fees. Add the trading fees to that, and you’re looking at a total cost that is higher than what you’d pay with Coinberry.
Bottomline, Coinberry offers a better crypto platform than Coinbase if you’re in Canada and looking to trade any of the currencies it supports.
Coinberry vs Shakepay
Shakepay is arguably the most beginner-friendly crypto trading app available to Canadians. It only supports bitcoin and Ethereum, compared to 6 coins at Coinberry.
Both Shakepay and Coinberry have no trading fees for buying or selling crypto, fees for CAD deposit and withdrawals or crypto deposit fees. However, both of them include a spread in the quoted prices, with Shakepay having the lower margins.
Shakepay covers the mining fees for bitcoin and Ethereum withdrawals, but Coinberry charges a flat fee for crypto withdrawals.
Like Coinberry, Shakepay also has extra features such as peer-to-peer transfer of funds between users and a bitcoin cash-back card (Shakepay Card) that’ll be introduced soon.
Overall, Shakepay provides better value at the moment than Coinberry. If you’re looking to trade any of the other digital coins not supported by Shakepay, you’re better off going with another platform like NDAX or Newton.
Read more: Shakepay Review and Referral Code
Coinberry vs Newton
Newton is another Toronto-based crypto trading platform that was launched in 2018 and currently supports 10 digital coins including bitcoin, Ethereum, bitcoin cash etc.
Fiat currency Deposit and withdrawals are free on both platforms. Crypto deposits are also completely free. To withdraw your crypto, Newton will cover the mining fees up to $5, while Coinberry charges a flat fee for the same service.
Newton offers one of the tightest spreads in Canada, usually ranging between 0.5-0.7%. And with no trading fees, your total cost to purchase crypto will be much lower at Newton compared to Coinberry.
Overall, both Newton and Coinberry are great crypto platforms for beginners, but Newton has more trading tools for advanced traders. With more digital coin support and lower fees, Newton offerings are currently superior to Coinberry.
Learn More: Newton Referral Code and Review
Coinberry vs NDAX
NDAX has one of the largest selection of digital currencies at 11 compared to just 6 cryptocurrencies at Coinberry.
It charges a 0.20% fee for both buying and selling bitcoin and other supported coins. CAD deposits and crypto deposits are, however, free at NDAX.
There’s a $25 fee CAD withdrawals and it charges a flat fees for withdrawing each of the crypto assets it supports: bitcoin withdrawals cost 0.000399 BTC for example.
Coinberry on the other hand does not charge for both deposits and withdrawals of CAD. But it has a flat fee for crypto withdrawals (Bitcoin costs $0.0005). But Coinberry’s spreads are much higher than the fees at NDAX.
Bottom line is: With its lower fees and access to more digital currencies, NDAX has an edge over Coinberry. If you won’t be making frequent CAD withdrawals, the $25 withdrawal fees at NDAX is a non-issue and will be more than offset by the lower trading fees.
Read More: NDAX Referral Code and Review
Coinberry Vs Bitbuy
Bitbuy was launched in 2016 and currently supports 7 crypto assets including Bitcoin, bitcoin cash, Ether, Litecoin, XRP, EOS and Stellar.
It has a low trading fee of 0.20% and tighter spreads than the ones at Coinberry. However, Bitbuy has the highest Interac e-transfer deposit and withdrawal fees in Canada at 1.50%.
CAD deposits and withdrawals are free at Coinberry on the other hand. That means, your total cost to trade crypto on Bitbuy will be much higher than that of Coinberry.
Bottom line: Though Coinberry offers one less crypto asset, it provides more value and lower cost than Bitbuy’s current offering.
Learn More: Bitbuy Referral Code and Review
Other Crypto Apps Sign-up bonuses in Canada
Coinsmart: Get $20 bonus when you trade $100. And extra $20 for each friend you refer, plus trade credits of up to $475.
Wealthsimple Crypto: $10 welcome bonus. Supports bitcoin and Ethereum. There are deposit and withdrawal fees but there’s an operations fee of 1.5-2%.
Netcoins: $10 bonus when you deposit a minimum of $100. Supports 7 digital coins, no CAD funding and withdrawal fees, allows both USD and CAD funding and has a trading fee of 0.50%.
Final Thought: Coinberry Review
Overall, my review of Coinberry as a crypto trading platform is mixed. It offers some interesting features that are unavailable at other crypto platforms and its partnership with some municipalities is a testament of the trust it has managed to build.
However, the coin offerings are limited, and its spread are much higher than that of many of its competitors. You can get access to more digital currencies at a lower cost and more from other crypto trading exchanges like NDAX and Newton.
But if you’re fine with the fees and looking to use some of its other services and products, then get started using this Coinberry referral code for a bonus of $20.
To conclude, if you’re looking for a hands-off approach to investing in cryptocurrencies without worrying about a crypto exchange, spreads, cold wallets and so on, then you should consider one of the best crypto ETFs available to Canadians.
Check the posts below for more information.
Coinberry Review & Referral Code
Coinberry is a Canadian digital currency trading platform that prides itself as the “safest and most secure” crypto platform in Canada. Get $20 as bonus when you sign up.