Coinsquare is a leading Canadian cryptocurrency exchange that offers a secure and regulated platform for buying, selling, and trading digital assets like Bitcoin, Ethereum, and many others. Established in 2014 and headquartered in Toronto, Coinsquare has grown to become one of Canada's most trusted crypto platforms.
🔐 Regulatory Compliance
Coinsquare holds a significant milestone in the Canadian crypto industry by becoming the first crypto-only platform to be registered as an investment dealer and IIROC (Investment Industry Regulatory Organization of Canada) member. This status ensures that Coinsquare operates under stringent regulatory standards, providing enhanced investor protection.
💱 Supported Cryptocurrencies and Trading Pairs
The platform supports over 60 cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE). Users can access more than 3,000 trading pairs, offering flexibility in portfolio diversification. coinsquare.com
💳 Funding and Withdrawal Options
Coinsquare facilitates seamless transactions with various funding and withdrawal methods:
Funding Methods:
Interac e-Transfer
Wire Transfers
Crypto Depositscoinsquare.com
Withdrawal Methods:
Direct Bank Deposit
Wire Transfer
Deposits are processed quickly, with no fees for Interac e-Transfers, and withdrawals can be made back to Canadian dollars and transferred to your bank account for free using Interac e-Transfers.
📱 Mobile Application
Coinsquare offers a user-friendly mobile app available on both iOS and Android platforms. The app allows users to trade cryptocurrencies, view portfolio performance, and access customer support on the go. The interface is designed to be intuitive, catering to both beginners and experienced traders.
🛡️ Security Measures
Coinsquare prioritizes user security by employing robust measures:
Cold Storage: All user crypto assets are held in offline cold storage with trusted custodians like Coinbase Custody and BitGo Trust Company, ensuring protection against potential hacks.
Insurance: Cash held in client accounts is protected by the Canadian Investor Protection Fund (CIPF) in the event of insolvency, covering up to $1 million CAD per account.
Two-Factor Authentication (2FA): Users can enable 2FA for an added layer of security during account access and transactions.
⚠️ Data Breach Incident
In November 2022, Coinsquare experienced a data breach where user personal information, such as names, email addresses, and transaction history, was compromised. However, the company assured users that no passwords or digital assets were exposed, as crypto holdings were stored securely in cold storage.
🧭 Conclusion
Coinsquare stands out as a regulated and secure platform for Canadian crypto enthusiasts. With its IIROC registration, diverse cryptocurrency offerings, and robust security measures, it provides a reliable environment for both novice and experienced traders. Whether you're looking to make your first crypto purchase or manage a diversified portfolio, Coinsquare offers the tools and support to help you succeed.