A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Coinsquare consists of four parts: general information, fees, deposit methods and security.
Coinsquare is a Canadian cryptocurrency exchange. The land of ice hockey and maple syrup also has a decent number of cryptocurrency exchanges.
This trading platform allows US-investors except for US-investors from the state of New York.
If you are one of those who prefer to do your trading through your phone or your reading tablet, Coinsquare could be a good choice for you. This is because the platform is also available as a mobile application to download on AppStore or Google Play (depending upon whether you have an iPhone or an Android phone).
Coinsquare Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Coinsquare:
Coinsquare Trading fees
The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees.
Coinsquare’s trading fees for takers are 0.20%. This fee is also slightly below the industry average. The industry average is arguably around 0.25%.
The exchange also offers a discount on the above trading fees for makers (i.e., providers of liquidity, the party in a trade that doesn’t take the offer that is already on the order book). The fee for makers is 0.10%. This is naturally a strong competitive edge for the investors who are not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
Coinsquare Withdrawal fees
The exchange also charges a withdrawal fee amounting to 0.0025 BTC when you withdraw BTC. This is in line with industry average.
At Coinsquare, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors. It is also a nice flexibility to have for any type of investor (new or experienced).
Apparently, you can even deposit fiat currency via Direct Bank Transfer or SEPA-transfer for free at this exchange. This is also very competitive.
Coinsquare’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
On 14 February 2019 (after the QuadrigaCX-scandal had shocked the market), Coinsquare sent out an email to its users stating that:
But, as you know by now, the above bullets didn’t help much either…
Finally, as mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: