Discovering CoinSmart: An Excellent Platform For Crypto Trading
Table of Contents
Introduction
The choice of your crypto trading platform carries great significance in the rapidly evolving cryptocurrency landscape. Amidst an ocean of alternatives, CoinSmart, a Toronto-based cryptocurrency exchange, stands apart. CoinSmart’s founders, Justin Hartzman and Jeremy Koven, launched it in 2018, aiming to provide an intuitive and comprehensive platform suitable for everyone, from beginners to seasoned traders. This article will delve into the ins and outs of CoinSmart, making a case for it as your go-to choice for cryptocurrency trading.
CoinSmart: An Insight Into Its Founding
The inception of CoinSmart was driven by Hartzman’s and Koven’s early encounters with various obstacles in crypto trading, particularly concerning fund accessibility and account verification. Their desire to offer a better alternative led to the creation of CoinSmart, a platform designed to make crypto trading accessible, efficient, and secure for all, particularly Canadians, who had few local options.
Unmatched User Experience
CoinSmart shines in providing an effortless and efficient user experience. The sign-up process is quick, thanks to instant verification through Equifax, allowing immediate access to trading. Even in cases where instant verification isn’t possible, CoinSmart offers clear guidance to get you started without much ado.
Furthermore, CoinSmart’s user-friendly interface simplifies navigation, whether for depositing funds, crypto trading, or earnings withdrawal. In case of any hitches, CoinSmart provides round-the-clock support, even extending to tax assistance.
A Multitude of Trading Opportunities
CoinSmart’s diverse offerings are another of its strengths. The platform supports trading in 16 cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), along with three fiat currencies, namely the Canadian Dollar (CAD), United States Dollar (USD), and Euro (EUR). With a commitment to expanding its offerings, CoinSmart ensures a wide array of trading options for its users.
CoinSmart’s Commitment to Security
In the realm of crypto trading platforms, the safety of your funds is paramount. CoinSmart is a registered Money Service Business with FINTRAC, implying compliance with regulatory standards. CoinSmart’s alliance with a registered Canadian bank further safeguards your funds.
Additionally, the platform implements a rigorous identity verification process to mitigate fraud risks, along with the option for a two-factor authentication system (2FA) for enhanced account security.
All cryptocurrencies on CoinSmart are stored in cold digital wallets, adhering to standard industry practices. Regardless of the cryptocurrency you choose to invest in, a cold wallet is available, safeguarding your assets against potential hacking attempts.
Global Expansion of CoinSmart
Although initially serving as a Canadian-only exchange, CoinSmart has broadened its horizons to cater to a global audience. Currently, if you are 18 or above and live in one of several countries, including the United Kingdom, Germany, India, and Japan, among others, you can avail of CoinSmart’s services.
Getting a Grip on CoinSmart’s Fee Structure
CoinSmart’s fee structure is transparent and aligns with industry standards. It clearly outlines fees for fiat deposits and withdrawals, and crypto withdrawal fees, ensuring no hidden costs.
Deposits via bank wire or draft in Canadian Dollars are free, subject to minimum deposit requirements. CoinSmart also accepts Interac e-Transfers, offering fee-free deposits for amounts above $2,000. The platform provides competitive pricing for trading fees, with comprehensive information available on the platform.
What Makes CoinSmart Distinctive
Beyond its user-friendliness and security measures, CoinSmart brings more to the table. Its SmartGuarantee ensures same-day deposit placement, same-day account verification, and processing of all fiat withdrawals within five days.
Moreover, CoinSmart runs an attractive referral program, rewarding you and your friend when they deposit at least $100.
Commonly Asked Questions Regarding CoinSmart
Is CoinSmart Suitable for Canadians?
Yes! CoinSmart is designed to serve Canadians, offering a quick identity verification process, a variety of funding methods, and fast deposit times.
Does CoinSmart Accept Interac e-Transfers?
Indeed! CoinSmart does accept Interac e-Transfers for deposits, with a minimum deposit requirement of $100.
What’s the Most Economical Way to Fund a CoinSmart Account?
Depositing via a bank draft is the most cost-effective method, incurring no fees for deposits over $500.
Is Identity Verification Required by CoinSmart?
Yes. As a business registered with FINTRAC, CoinSmart requires all users to undergo identity verification.
Is the CoinSmart Multicoin Wallet Secure?
Certainly! Nearly all assets in CoinSmart’s Multicoin Wallet are stored in cold storage, ensuring their safety against potential hacking attempts.
What Does CoinSmart Premium Offer?
CoinSmart Premium is an Over-The-Counter (OTC) service designed for clients wishing to execute buy or sell orders of $25,000 or more. It offers a dedicated account representative, discounted fees, and optimal pricing based on the size/volume of the order.
Conclusion
The ideal cryptocurrency platform offers a balance of simplicity, security, diversity, and cost-effectiveness, and CoinSmart guarantees all these. Whether you’re kickstarting your crypto trading journey or in search of a superior platform, CoinSmart could be the smart move you need!
