Coinberry is a Canadian cryptocurrency exchange that offers dollar-cost averaging, an easy-to-use crypto investing platform, and a $40 signup bonus when signing up with our referral link. However, Coinberry's spreads often sit around 2.5%, which is extremely high, and it's missing many of the features you'd want in an exchange.
For a better overall trading experience with significantly lower fees, I recommend opening an account with VirgoCX, my #1-ranked Canadian crypto exchange. VirgoCX has 250,000+ satisfied users, charges very low trading fees, and is offering a $20 signup bonus from now until January 30, 2023.
How To Use A Coinberry Referral Code
Coinberry's referral program is designed to reward new users for joining their platform. By signing up using our Coinberry referral link and Coinberry referral code YOREOYSTER, you'll receive a $40 signup bonus after trading $50 or more.
After completing your first trade, you'll also receive your own referral code, which you can use to earn a bonus of $40 every time one of your referrals joins Coinberry using your link.
To use this Coinberry promo code:
- Visit Coinberry’s website. Enter your email and click on the Get Started button.
- Enter a password for your account and use the referral code YOREOYSTER. (Important: you have to use the referral code in this step. You will not be able to use it after you create your account).
- Fill in your name, email, and phone number.
- Verify your identity.
- Complete the 8-question Investor Suitability Assessment questionnaire.
- After you’ve created your account you just have to complete a trade of at least $50 – then you'll be credited $40 as part of the referral program. You'll also receive your referral code so you can start referring your friends.
(We outline the whole referral process step-by-step in the How To Sign Up For Coinberry section below.)
What Is Coinberry?
Coinberry is a Canadian cryptocurrency exchange based in Toronto. Since its inception in 2017, Coinberry has been developing features like Coinberry AutoPilot and Coinberry Pay. These two features set Coinberry apart from other Canadian crypto exchanges.
Originally, Coinberry’s cryptocurrency support was a lot more limited, but it's grown to support 18 cryptocurrencies since then. You can read more about Coinberry in our full Coinberry review.
Coinberry Features
Some of Coinberry's top features include:
- Instant account verification
- Coinberry Autopilot, which allows users to buy cryptocurrencies automatically through dollar-cost averaging
- Coinberry Pay, which allows crypto payments and can automatically convert them into CAD and deposit them in your bank account.
What Coins Does Coinberry Offer?
| Bitcoin (BTC) | Kyber Network (KNC) | Yearn Finance (YFI) | Enjin Coin (ENJ) |
| Ethereum (ETH) | Axie Infinity (AXS) | Aave (AAVE) | The Graph (GRT) |
| Bitcoin Cash (BCH) | Fantom (FTM) | Balancer (BAL) | Decentraland (MANA) |
| Litecoin (LTC) | Terra (LUNA) | Uniswap (UNI) | Maker (MKR) |
| Stellar (XLM) | Polygon (MATIC) | Basic Attention Token (BAT) | Shiba Inu (SHIB) |
| Cardano (ADA) | The Sandbox (SAND) | Chainlink (LINK) | ZCash (ZEC) |
| Dogecoin (DOGE) | Synthetix (SNX) | Compound (COMP) | |
| Curve Dao (CRV) | Polkadot (DOT) | Ripple (XRP) |
Coinberry Fees
Coinberry doesn't charge any fees for deposits and withdrawals, which is nice. The problem with Coinberry, though, is that they have incredibly high spreads—frequently around 2.5%, which makes them one of the most expensive exchanges in Canada.
Here's a comparison of current spreads for Coinberry and our #1-ranked exchange, CoinSmart. Keep in mind that these spreads are just for one half of a transaction (either buying or selling), so to get the true spread, you need to multiply them by two:
As you can see, CoinSmart's stable 0.2% spreads are far lower than Coinberry's dynamic spreads, which has a sizable impact on your profitability as an investor. You're paying 4-8x higher spreads with Coinberry, which is the primary reason I can't recommend Coinberry as an exchange.
How To Sign Up With Coinberry
#1 Visit Coinberry’s website. Enter your email and click the Get Started button.
#2 Enter a password for your account and confirm your email (Important: you have to use the referral code YOREOYSTER in this step. You will not be able to use it after you create your account).
#3 Add your phone number. Keep in mind that Coinberry works only in Canada, so you won’t be able to access their website from another country.
#4 Verify your identity using your passport or driver’s license.
#5 Complete the Investor Suitability Assessment. This is a short 8-question questionnaire about your past investing experience.
#6 Finally, fill in your name, last name, and date of birth. Keep in mind Coinberry is available only for Canadian citizens over the age of 18.
Coinberry’s Referral Program
After creating your Coinberry account you can find your referral code in the menu under Invite Friends Earn $40, both in the app and on Coinberry's website.
- You can share your code via text, email, or to your social media audience.
- Once your friend signs up and makes their first $50 purchase, both you and them will receive a $40 credit.
- You'll also receive an additional bonus after every 5th referral on top of the base of $40. You get a $25, $50, and $100 additional bonus after your 5th, 10th, and 15th successful referral.Â
Is Coinberry Safe?
Yes, Coinberry is a safe exchange to use. It has institutional-grade crypto protection and its crypto tokens are protected by the Gemini Trust Company, which is the most regulated and secure crypto custodian in the world. The Gemini Trust Company also has $200 million in insurance coverage.
Is Coinberry Legal In Canada?
Yes. Coinberry is a registered Money Service Business (MSB) through the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which means that it is a legitimate crypto exchange.
My Recommendation
Coinberry is a decent crypto exchange: it supports 18 cryptocurrencies, doesn't charge fees on deposits and withdrawals, and allows you to make deposits via credit card and INTERAC e-transfers instantly.
However, Coinberry's spreads are far too high for me to consider it a great (or even a good) exchange; at up to 2.5%, Coinberry's spreads are so far higher than those of Canada's top exchanges.
That's why I strongly recommend you consider exchange_1_canada instead of Coinberry. Here are a few reasons why:
Introducing VirgoCX: Our #1-Rated Crypto Exchange In Canada
#2 In Canada
|
Trading Fees: 0% up to $200 |
★★★★★ Rated 4.5/5 |
ZenGo is free to use, which means you get the industry's best security for no cost. Sending and receiving crypto to and from ZenGo is also free, and their 24/7 support team answers most queries in 5 minutes or less.
ZenGo’s proprietary keyless technology means that your crypto is protected by two independently created mathematical secret shares: one that lives on your phone, and another that lives in the cloud. This unique setup means that your coins are always 100% secure, and that you’ll never have any trouble accessing them, even if your phone is lost, stolen, or broken, or if ZenGo (the company) were to go bankrupt, commit fraud, or cease operations for any other reason.
As a new ZenGo user, you won't pay any trading fees on trades up to $200. ZenGo supports more than 75 crypto assets, and it takes less than 30 seconds to open your free account.
Overall, ZenGo represents the next generation of crypto: with top-level security inside an easy to use app, ZenGo offers the best of both worlds.
Features
- Supports 75+ crypto assets
- 24/7 customer support
- Extremely well-rated mobile app (4.7/5 on the App Store)
- Face scanning technology for even greater security
- Up to 8% APY in crypto savings
- Cancel or speed up your sent transactions with one tap
- Choose from the 3 network fees modes: economy, regular, and fast (applicable for BTC, ETH, and ERC20)
Cost
- Account Opening: Free
- Trading Fees: 0% on trades up to $200
Best For
Crypto investors looking for the most secure trading experience + low fees.
SECURE MY CRYPTO FOR FREE
Sign up by January 30, 2023.In Summary
Coinberry is a Canadian cryptocurrency exchange that offers dollar-cost averaging, an easy-to-use crypto investing platform, and a $40 signup bonus when signing up with our referral link. However, Coinberry's spreads often sit around 2.5%, which is extremely high, and it's missing many of the features you'd want in an exchange.
For a better overall trading experience with significantly lower fees, I recommend opening an account with VirgoCX, my #1-ranked Canadian crypto exchange. VirgoCX has 250,000+ satisfied users, charges very low trading fees, and is offering a $20 signup bonus from now until January 30, 2023.
