CoinSmart Promo Code : $50 Bonus

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 CoinSmart signup 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:

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

IMPORTANT: Make sure you see the amount of the promo code on the screen. If you don't see it, you won't receive it. Here's what it looks like when you click on our link:

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. CoinSmart supports 16 cryptocurrencies, keeps at least 95% of users' assets in cold storage, and offers speedy, helpful customer support. CoinSmart is currently one of our top-rated crypto exchanges in Canada, alongside Kraken, VirgoCX, and Bitbuy.

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 Cryptocurrencies Does CoinSmart Offer?

CoinSmart users can currently buy and sell the following coins:

• 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)
• Uniswap (UNI)

CoinSmart regularly adds new coins as well, which you'll see appear inside your CoinSmart account.

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:

Depositing cryptocurrency is free with CoinSmart, though withdrawing crypto can cost up to $10 per withdrawal. There are other exchanges like Kraken that don't charge deposit or withdrawal fees. However, except in rare cases like VirgoCX, that comes at the cost of high trading fees, such as with Newton. Therefore, paying a $10 withdrawal fee but saving possibly hundreds on trading fees and spreads is a no-brainer in my book.

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 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

• 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
• Official member of the anti-money-laundering group TRUST
• $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.)

In Summary

CoinSmart is one of Canada’s fastest-growing and most trusted cryptocurrency exchanges. They offer easy access to cryptocurrencies like Bitcoin, Ethereum and more, and their excellent customer support and easy signup process make them one of the top-ranked crypto exchanges 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.

I recommend also claiming your Bitbuy signup bonus, which will give you an additional $50 bonus after depositing $250.

For a better overall trading experience with significantly lower fees, I recommend opening an account with Kraken, my #1-ranked Canadian crypto exchange. Kraken has 250,000+ satisfied users, charges very low trading fees, and is offering a $10 signup bonus (no referral code required) from now until April 27, 2024.

Cryptocurrency Signup Bonuses In Canada

• Bitbuy: $50 bonus after depositing $250 or more
• Newton: $25 bonus after depositing $100 or more
• VirgoCX: $20 bonus after depositing $100 or more

CoinSmart Promo Code FAQs

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). This CDIC protection isn't something you get with most Canadian exchanges, making CoinSmart one of the safest crypto platforms in the country.

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.