Coinsquare Referral Code (May 2022): $20 Signup Bonus

February 14, 2022
Blog

Coinsquare is a Canadian crypto exchange that allows you to trade Bitcoin, Ethereum, and several other cryptocurrencies. Compared to other exchanges, it has somewhat high withdrawal fees of around 2%; we can’t fully recommend using it over CoinSmart, Canada’s best crypto exchange.

Despite their fees, Coinsquare has an attractive program in place to benefit its clients: by using the referral code YOREOYSTER (or the link), you will receive a $20 sign-up bonus after funding your account with at least $100. You will also receive your referral code, which you can use to invite friends and earn $20 for each successful referral.

How To Use Your Coinsquare Referral Code

Coinsquare has a referral program for new users. When you sign up with Coinsquare using the referral code YOREOYSTER, you will receive a bonus of $20 worth of BTC deposited to your wallet. The only requirement is to use the code and fund your account with at least $100, and you will receive the bonus immediately.

To use the promo code:

  • Visit Coinsquare’s page. Scroll down to the Setup Your Account section. 
  • Choose a username, link your email address, and pick a password (important: in this step, you have to use the referral code F4sE2. If you don’t use it in this step, you will not be able to use it after creating your account, and you will miss out on the referral bonus).
  • Confirm your phone number and verify your identity with a government-issued ID (passport, driver’s license).
  • Fund your account.

Keep in mind that to receive the bonus, you have to fund it with at least $100, and after you fund it you will receive your referral code to start inviting your friends and receiving $20 for each successful referral.

What Is Coinsquare?

Coinsquare is a Canadian digital currency exchange that allows you to trade Bitcoin, Ethereum, and several other cryptocurrencies. Coinsquare has been around since 2014, so they’ve had plenty of experience developing their platform to ensure it’s user-friendly and safe for traders.

What Coins Does Coinsquare Offer?

Bitcoin (BTC)Litecoin (LTC)
Ethereum (ETH)Ripple (XRP)
Bitcoin Cash (BCH)Dogecoin (DOGE)
Bitcoin SV (BSV)Stellar Lumens (XLM)
Ethereum Classic (ETC)DASH

Coinsquare Fees

Coinsquare offers two distinct order types: QuickTrade and Bit Markets.

If you’re using the QuickTrade feature, you will pay 0.20% of your entire trade-in BTC and 0.40% on all transactions using other cryptocurrencies in fees.

On the other hand, Bit Market fees are lower (A Maker fee is only 0.1%, while a Taker fee is capped at 0.2%). Deposits cost nothing, but withdrawing funds from Coinsquare incurs an additional transaction fee of 2%.

Fees for specific cryptocurrencies vary; you can head to our full Coinsquare review for the complete list.

How To Sign Up With Coinsquare

#1 Visit Coinsquare‘s page. Scroll down to the Setup Your Account section. 

#2 Choose a username and link an email address. (important: this is where you use the referral code YOREOYSTER. If you don’t use it in this step, you will not be able to use it after creating your account, and you will miss out on the referral bonus).

#3 Before you start trading you will need to confirm your mobile number. Keep in mind that Coinsquare is only available for resident Canadian citizens.

#4 The last step is to verify your identity with a government ID (passport, driver’s license, ID card) and fund your account. Keep in mind that you have to fund it with at least $100 to receive the $20 bonus.

Coinsquare’s Referral Program

After creating and funding your account, you will find your referral link in the Referral section or by reaching out to Coinsquare support. Once you have your referral code, you can:

  • Share your code via text, email, or your social media audience.
  • Once a referee signs up and funds their account with at least $100, you both will receive an additional $20. 
  • There’s no limit to how many people you can invite. 

Is Coinsquare Safe?

Well, for starters, it’s worth reminding you that cryptocurrency trading is risky regardless of the platform you use to do so. However, I’ve mentioned earlier in this article that Coinsquare has yet to be hacked, so you can be sure that the platform is pretty safe.

Is Coinsquare Legal In Canada?

Yes. Coinsquare is fully regulated by the Ontario Securities Commission and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

This means that Coinsquare has met all Canadian regulatory requirements for cryptocurrency trading platforms, so you can be sure it’s a legitimate platform to use when trading cryptocurrencies.

That being said, Coinsquare is not a member of the Canadian Investor Protection Fund (CIPF), which means that you should be prepared to lose all your investments if the company becomes insolvent.

Introducing CoinSmart: Canada’s #1 Crypto Platform

Best Overall

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

$50 offer ends May 19.

★★★★★

Rated 4.9/5

I recently broke down 10+ of Canada’s most popular crypto platforms, and CoinSmart came out on top. It scored so well because it excels on what I believe are the three most important factors when choosing a crypto platform: fees, security, and customer support.

Here’s how CoinSmart performs in each of those areas, and why I believe it’s the best crypto trading platform in Canada. And to get your $50 signup bonus with CoinSmart, use this signup link and the special promo code YOREOYSTER.

#1 Lowest Fees In The Industry

CoinSmart’s trading fees are just 0.20%, the lowest of any crypto platform in Canada. And those savings add up quickly: if you trade $100,000 worth of Bitcoin in a given year (buying and selling $25,000 worth twice), you’ll save $800 in trading fees compared to a platform that charges 1% ($200 vs. $1,000).

Perhaps more important than trading fees, though, are spreads: the difference between the Buy price and the Sell price. CoinSmart has razor-thin spreads, which makes day trading possible and keeps more money in your pocket.

#2 Bank-Level Security

CoinSmart maintains a 95% cold storage policy, which means at least 95% of its users’ crypto is always held offline. This is a security measure that only the most advanced trading platforms employ, and CoinSmart is leading the charge.

CoinSmart is also the only publicly traded crypto platform in Canada, which means it’s subject to far more financial scrutiny than any other platform. It’s regulated by FINTRAC (the Financial Transactions and Report Analysis Centre of Canada) and the OSC (Ontario Securities Commission), and its financials are audited by external professionals at least once per year.

#3 Excellent Customer Support

CoinSmart offers 24/7 customer support via phone, live chat, and email, and their customer service reps are actually helpful rather than just following a script. I’ve never had to wait more than about 60 seconds on hold, and they’re very responsive via live chat and email, too. 

The only time I ran into an issue with CoinSmart, I called them and had it sorted out within 5 minutes. Keep in mind that telephone and live chat support is only available for registered users, so if you have a question for CoinSmart, the best way to get it answered is to open an account

CLAIM MY $50 BONUS
Offer ends May 19.

Conclusion

Coinsquare is a Canadian crypto exchange that allows you to trade Bitcoin, Ethereum, and several other cryptocurrencies. Compared to other exchanges, it has somewhat high withdrawal fees of around 2%; we can’t fully recommend using it over CoinSmart, Canada’s best crypto exchange.

Despite their fees, Coinsquare has an attractive program in place to benefit its clients: by using the referral code YOREOYSTER (or the link), you will receive a $20 sign-up bonus after funding your account with at least $100. You will also receive your referral code, which you can use to invite friends and earn $20 for each successful referral.

Before You Go

Here are the best sign-up bonuses available right now. If you’re planning to sign up for any of these services, we recommend you take advantage of these bonuses:

Crypto Exchange Signup Bonuses:

Crypto Hardware Wallets:

Online Bank Referral Bonuses:

Online Broker Sign up Bonuses:

Robo Advisor Sign up Bonuses:

Other Everyday Bonuses:

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

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5