CoinSmart Promo Code (May 2022): $50 Signup Bonus

May 5, 2022
Blog
CoinSmart

CoinSmart is one of Canada’s fastest-growing and most trusted cryptocurrency exchanges. They offer easy access to digital currencies like Bitcoin, Ethereum and more, plus several features that earn them the title of our #1-ranked crypto exchange in Canada.

By using the CoinSmart referral code YOREOYSTER (or our referral link) you’ll receive a $50 signup bonus upon depositing $200 or more.

CLAIM MY $50 BONUS
plus get entered to win $1,000

How To Use Your CoinSmart Promo Code

When you open an account with CoinSmart using the referral code YOREOYSTER or our exclusive referral link, you’ll receive a $50 signup bonus after depositing $200 or more—the highest bonus anywhere on the web. Your $50 bonus will be applied instantly upon making your deposit, and you can start trading immediately, too.

Here’s how to use your CoinSmart promo code:

  • Visit CoinSmart’s website using our referral link. Make sure to use our referral code YOREOYSTER to get your $50 signup bonus.
  • Verify your email address, phone number and government-issued ID.
  • Deposit $200 or more to receive your $50 signup bonus instantly.

You’ll find a more detailed walkthrough of how to sign up with CoinSmart further down this post.

What Is CoinSmart?

Founded in 2018, CoinSmart is one of Canada’s fastest-growing and most trusted cryptocurrency exchanges. They support 16 coins, keep at least 95% of users’ assets in cold storage, and offer speedy, helpful customer support.

Once you’ve created and verified your CoinSmart account, you can fund your account in a variety of ways: Interac e-Transfer, electronic funds transfer, wire transfer, cryptocurrency, and bank draft. Credit card purchases are also accepted, though I suggest using Interac e-transfer for a quick deposit with low fees.

To learn more about CoinSmart, here’s our full CoinSmart review.

What Coins Does CoinSmart Offer?

CoinSmart users can buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), EOS, USD Coin (USDC), Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), Shiba Inu (SHIB), Chainlink (LINK), and Uniswap (UNI).

CoinSmart Fees

CoinSmart’s fees are very competitive compared to other Canadian crypto exchanges:

  • 0.2% for single trades—when trading between a major coin and fiat (eg. CAD to Bitcoin) or a major coin or fiat and an altcoin (eg. CAD to Shiba Inu, Bitcoin to Shiba Inu)
  • 0.3% for double trades—when trading altcoin to altcoin (eg. Shiba Inu to Cardano)
  • CoinSmart’s spreads are around 0.3%

Here are CoinSmart’s fees for fiat deposits and withdrawals:

Fiat transaction typeFeeProcessing Time
INTERAC e-Transfer Deposit0% on $2000+
1.5% on $100 – $1999
Same day
Wire Transfer / Bank Draft Deposit 0%Same day
Credit/Debit Card DepositUp to 6%Instant
INTERAC e-Transfer Withdrawal1%
($15 minimum)
1-5 business days
Bank Wire Withdrawal1%
($15 minimum)
1-5 business days

Depositing cryptocurrency is free with CoinSmart, though withdrawing crypto can cost up to $10 per withdrawal.

CLAIM MY $50 BONUS
plus get entered to win $1,000

How To Sign Up With CoinSmart

#1 Visit CoinSmart’s website using our CoinSmart referral link. Click on the signup button.

#2 Enter your basic information, including your name, date of birth, and our promo code YOREOYSTER. The promo code should be entered automatically, but if it’s not, be sure to enter it at this step, since you can’t add it after your account has been opened.

#3 Click the verification link in the email CoinSmart sends to your email account. From there, you’ll be asked to verify your phone number through a text message verification code as well.

Once you’ve verified your email address and phone number, you’ll need to verify your identity using your driver’s license, passport or another piece of government-issued ID. You’ll also need to upload a selfie with your ID, so if you’re signing up from a computer, you’ll be able to scan a QR code from your phone to upload your selfie from there.

Note: Most CoinSmart accounts are verified instantly, but if yours isn’t, you may need to wait a few days for their team to verify you. Verification times are getting longer because CoinSmart has become so popular in recent months, so it’s a good idea to start the process now.

Pros & Cons Of CoinSmart

Pros of CoinSmart

  • Very low trading fees (0.2% per trade)
  • Tight spreads on trades (around 0.3% per trade)
  • Instant account verification for many CoinSmart users
  • 95% cold storage policy keeps your crypto extra secure
  • User funds are insured up to $100 million
  • Quick, helpful customer support team
  • Supports 16 different cryptocurrencies
  • Excellent, easy to use mobile app
  • Registered as a Money Service Business with FINTRAC
  • $50 signup bonus using our link

Cons of CoinSmart

  • Fiat deposits & withdrawals cost 0% – 1%
  • Crypto withdrawals cost $0 – $10
  • CoinSmart only accepts Canadian dollars as fiat (no USD, EUR, etc.)

How Does The CoinSmart Referral Program Work?

CoinSmart’s referral program works like this:

  1. Follow the steps above to open your account.
  2. Verify your email address, phone number and government-issued ID.
  3. Deposit $200 or more to receive your $50 signup bonus.
  4. Get your own referral link from the Settings of your CoinSmart account.
  5. Share your link with friends and online to earn $20 per signup.

Is CoinSmart Safe?

Yes, buying and selling crypto with CoinSmart is totally safe. They have a 95% cold storage policy to keep users’ crypto extra secure, offer 2-factor authentication for all users, and hold all fiat deposits in Canadian banks, which means they’re protected by the Canadian Deposit Insurance Corporation (CDIC).

These security protocols make trading with CoinSmart extremely safe, and because deposits are protected by the CDIC, trading with CoinSmart is even more safe than trading with some other Canadian exchanges.

Is CoinSmart Legal In Canada?

Yes, CoinSmart operates fully legally in Canada. It’s a registered Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which means it follows all Canadian regulations.

CoinSmart is also a publicly-traded company, which means its financials are audited by external auditors at least once per year, making fraud and other financial crimes nearly impossible.

CLAIM MY $50 BONUS
plus get entered to win $1,000

In Summary

CoinSmart is one of Canada’s fastest-growing and most trusted cryptocurrency exchanges. They offer easy access to digital currencies like Bitcoin, Ethereum and more, plus several features that earn them the title of our #1-ranked crypto exchange in Canada.

By using the CoinSmart referral code YOREOYSTER (or our referral link) you’ll receive a $50 signup bonus upon depositing $200 or more.

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ends May 19.

★★★★★

Rated 4.9/5

Cryptocurrency Signup Bonuses In Canada

  • Bitbuy: $50 bonus after depositing $250 or more
  • VirgoCX: $30 bonus after depositing $100 or more
  • Newton: $25 bonus after depositing $100 or more

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5