Security Compliance
Coinberry has a $200M insurance policy with Gemini Trust Company LLC™. Coinberry also states on its website that it is backed by a “financial insurance bond” which covers any unethical acts from Coinberry employees.
For security, Coinberry implements military-grade encryption and keeps up to 97% of its coins in cold storage. When signing up to Coinberry and Coinsquare, customers must provide government-issued documents to verify their identity. This helps protect against money laundering and fraud.
Coinsquare keeps up to 95% of its coins in cold storage and both exchanges offer Two-Factor Authentication (2FA), so you can be sure no one but you can sign in to your account. Coinsquare utilizes SSL technology for private data encryption, and its system is DDoS tested to ensure that the platform can stay secure against an attempted hack.
Regulatory Compliance
Coinberry is fully regulated in Canada. The exchange is registered with FINTRAC and is PIPEDA-compliant.
Coinberry and Coinsquare are both fully regulated in Canada. The exchanges are registered with FINTRAC and Coinberry is PIPEDA compliant. Coinberry has partnered with Gemini Trust Company LLC™ which provides $200M in insurance coverage. Coinberry also states on its website that it is backed by a “financial insurance bond” which provides insurance coverage for unethical acts from Coinberry employees. Coinsquare does not offer information about insurance policies on its website.
Customer support
Coinberry has FAQs and knowledge centre on their website. Customers can message the support team either online via their support pages or through email.
Coinberry and Coinsquare both offer live chat and provide helpful knowledge centres on their websites. Customers can message the support teams online or via email. Neither exchanges offer 24/7 email support.
Conclusion
Both Coinberry and Coinsquare are top choices for Canadians looking to buy cryptocurrency. If you want a fast and beginner-friendly way to purchase the most popular coins such as Bitcoin, Ethereum, or Litecoin, then Coinberry is a good choice. The exchange is heavily focused on making cryptocurrency as accessible to Canadians as possible. A perfect option for beginners.
With Coinsquare, you have the choice of using its Quick Trade app, for fast and simple purchases, or its Advanced Trade desktop platform for more advanced order types. Coinsquare also offers a few more coins than Coinberry, but both are comparable and good choices for Canadians.
We would say that Coinberry (sign up here) is the winner in this round due to its mobile and desktop apps.
On top of these two, we would recommend Coinsmart for a number of reasons. Why? Check on our Coinsmart review.
