Coinberry Review For Canadians: What Happened And What To Use Now

What Happened To Coinberry?

Coinberry was bought by WonderFi in 2022. In 2023, WonderFi's Bitbuy took over all Coinberry client accounts, and the Coinberry brand stopped operating on its own. The regulator records tell the same story: the CSA lists Coinberry's 2021 decision among expired decisions, and the FINTRAC registry shows Coinberry Limited as ceased in June 2024.

The chain did not stop there. Bitbuy accounts were moved to Coinsquare Capital Markets Ltd. in 2024, and after Robinhood closed its WonderFi acquisition on June 1, 2026, the Bitbuy site told users it is part of Robinhood and invited customers to move to the Robinhood app. If you were a Coinberry customer, you are probably on that path already. Our Coinsquare review explains the migration in detail.

What Should Former Coinberry Users Do?

Follow whatever the Bitbuy or Robinhood invitation says, and download your statements and tax records before any app is retired. Coinberry's own history of buys, sells and transfers is the record you need for your CRA reporting. If you would rather leave than migrate, send your crypto to a wallet you control or to another registered platform first. Our best crypto wallets for Canadians page covers self-custody.

What Did Coinberry Offer?

Coinberry provides Canadians with a simple and user-friendly platform for purchasing cryptocurrency. You can buy crypto in minutes by sending an Interac e-Transfer or bank transfer.

The platform also offers an autotrading feature, allowing you to set up orders that execute automatically on specific days and times. This is particularly useful for those using a dollar cost averaging (DCA) strategy, enabling regular crypto purchases, such as weekly investments.

Additionally, Coinberry lets you accept crypto payments and tips through Coinberry Pay. You’ll receive a unique payment link, and any crypto deposited is automatically converted into Canadian dollars for convenience.

Does Coinberry Offer Staking Or Other Services?

Coinberry does not offer any additional features such as staking or Visa cards. 

Does Coinberry Have An OTC Desk?

Coinberry does not currently have an OTC Desk for larger trades for Canadians.

How Did Coinberry Registration And Verification Work?

What You Need to Open an Account:

• Must be 18+
• A government-issued ID
• Face captured video
• Answer questionnaire

The verification process at Coinberry is the same as other Canadian crypto exchanges. It is a straightforward process. You will need to provide a government-issued ID, a selfie, and proof of address in order to trade with Coinberry.

First, sign up with your email, phone and password. Then, you can upload one of your identity documents. If you’re using a desktop you’ll be prompted to scan a QR code with your phone which will open a secure web link. Then, take a picture of your ID document with your phone’s camera.

Once you’ve uploaded your document, you’ll be prompted to make a quick video of yourself performing the action requested e.g. looking over your right shoulder and saying some numbers. This type of verification is becoming more common and replacing the usual selfie required.

Once you’ve gone through these steps, you will need to answer eight questions related to your finances, employment and investment intentions. These questions can feel quite intrusive. Coinberry asks what percentage of your net liquid assets you intend to invest in crypto among other things.

These sorts of questions are supposedly to help put limits on your account to protect you, as well as comply with regulations, but Coinberry, as with any business, will also want to gather as much data about their customers as they can get away with.

We have signed up to numerous Canadian crypto exchanges and Coinberry asks the most questions related to employment, finances and investing.

What Did Coinberry Charge?

• 0% CAD funding
•  0% CAD withdrawal fees
• 0% to 2.5% Spread 
• 0.02 fixed fee for LTC withdrawal
• Crypto withdrawal fees to cover mining costs

Free deposits and withdrawals is great and you can easily transfer Canadian dollars without worrying about exchange fees. However, Coinberry has some of the highest fees we’ve seen of any crypto exchange in Canada. Up to 2.5% spread is very high. Typical trading fees are just 0.2%, so keep this in mind if you wish to trade with Coinberry. 

A spread in trading refers to the difference between the highest price a buyer is willing to pay (bid price) and the lowest price a seller is willing to accept (ask price). The spread serves as a source of profit for the exchange.

Coinberry positions itself as a trading platform rather than a peer-to-peer exchange. This means that when you use Coinberry, you’re buying and selling directly with the platform rather than other individuals. Coinberry sets the buy and ask prices themselves, and this is how they generate revenue.

Coinberry’s spread ranges from 0% to 2.5%, which is relatively high. The spread can also fluctuate depending on the liquidity of an asset, higher liquidity and trading volume generally result in smaller spreads.

How Much Did It Really Cost To Trade With Coinberry?

We deposited $120 into our Coinberry account, and since deposits are free, the full amount was available in our account.

We used this to buy Bitcoin, and Coinberry provided a preview of the order before submission. The total fees, including the spread, came to $3.00, which equals a 2.5% fee, relatively high. In comparison, had we made this purchase at Newton, we would have paid a total fee of just $1.08 or 0.90%, making Newton a significantly cheaper option at the time.

How Did You Fund A Coinberry Account?

• Interac e-Transfer
• Wire transfer

You can make free deposits using Canadian dollars via Interac e-Transfer or bank transfer, but you cannot buy crypto with credit or debit cards. 

How Long Do Deposits Take?

Our deposit via Interac e-Transfer took five minutes to be deposited into our Coinberry account.

How Long Does It Take To Withdraw Coins?

Withdrawals depend on the network and to withdraw bitcoin to a private wallet takes only a few minutes but can take up to 10 minutes.

Was Coinberry Safe?

When it was open, Coinberry told customers it held a USD 200 million insurance policy through Gemini Trust Company and stored up to 97% of its coins in cold storage. Those were the company's own claims and I never verified them independently. It was registered with FINTRAC and the CSA recognised it through the pre-registration process, so on regulation it was in the normal range for a Canadian platform of that era. The main weakness was cost, not safety.

What Were The Coinberry Apps And Support Like?

Coinberry’s iOS app has a solid 4.5-star rating with 5,000 reviews, reflecting general user satisfaction. However, its Android app fares worse, with a 3.1-star rating from 1,000 reviews.

Some users have reported issues such as delays in fund withdrawals, a slow verification process, and difficulties with logging into the app, which may contribute to the lower Android rating. While the iOS experience appears smoother, these complaints highlight areas where Coinberry could improve.

The Coinberry platform is well-suited for beginners, thanks to its simple and modern layout that provides a pleasant trading experience. To purchase crypto, you simply click the buy button and use the funds in your fiat wallet.

From the dashboard, you can view your portfolio, access simple charting, and manage your referrals. While Coinberry doesn’t offer many advanced features, this simplicity makes it an ideal choice for beginner traders who want an easy-to-navigate platform without overwhelming options.

To buy crypto on Coinberry, start by funding your account. Click the “Fund” button at the top of your dashboard, select your preferred payment method, and follow the instructions. If you choose Interac e-Transfer, log in to your online banking and send the transfer, providing you include the reference number in the message box.

Once your account is funded, click the “Buy” button. Select the cryptocurrency you want from the list, choose the type of order, and enter the amount you wish to buy.

Coinberry allows you to choose between a market order (executed at the current market price) or a limit order (executed at a specific price you set). This flexibility helps you tailor your trades to your preferences.

Coinberry provides 24/7 customer support, accessible through online messaging or email. The platform also features a helpful FAQ section on its website to address common questions.

Customer feedback is mixed, while some users praise the support team’s responsiveness, others report unresolved issues. In our experience, we submitted a support ticket and received a helpful response within minutes, demonstrating the potential for reliable assistance.

What Did Other Users Say About Coinberry?

Coinberry holds an average 3.6-star rating on Trustpilot, with 47% of reviews rated as excellent.

Many customers express satisfaction with Coinberry’s services, often highlighting the professionalism and helpfulness of the support team in addressing their needs.

However, there are some people who have had trouble withdrawing assets.

Did Coinberry Restrict Or Freeze Accounts?

Some people have written reviews of Coinberry stating that their accounts have been blocked. As with a lot of exchanges, reasoning is mostly unknown, but usually it is due to suspicious activity or the user has not provided sufficient verification documents. In this situation, their compliance team will ask you to submit additional documents and manually review them. During this time you will be unable to use your account.

Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual. 

If you are linked with criminal behaviour you may find your account frozen as well. 

What Were The Pros And Cons Of Coinberry?

What Should You Use Instead Of Coinberry?

Coinberry's 2.5% spread was its weak spot, so the replacement should be cheaper and registered. These are on my current ranking and all are available to Canadians today.

See the full best crypto exchanges for Canadians ranking, or take the exchange quiz.

How Do You Avoid Crypto Exchange Scams?

Some common crypto exchange scams I’ve come across include phishing emails, fake websites, social media accounts, and fake airdrops. These scams are often so convincing because they replicate the exact logos, branding, and layouts of legitimate exchanges, making it easy to fall for them.

In my experience, phishing emails are one of the most common tactics. Scammers might claim there’s an issue with your account and try to trick you into sharing sensitive information like passwords. I always double-check that any email I receive is from the official address before clicking links, and I recommend you do the same. Legitimate exchange representatives, like support staff, will never contact you first or ask you to send money or crypto.

Another common scam is fake airdrops, which promise free crypto but require you to send tokens first in exchange for more valuable coins. This is a classic trap. I always tell people: never send crypto to anyone you don’t know, genuine airdrops don’t ask for payments upfront. Staying vigilant has saved me from these pitfalls, and it can save you too.

What Changed For Coinberry In October 2026?

• Jun 1, 2026 Robinhood completed its acquisition of WonderFi, the owner of Bitbuy, which took over Coinberry's accounts.
• Jun 5, 2024 FINTRAC lists Coinberry Limited as ceased.
• Jul 21, 2023 WonderFi announced Bitbuy would acquire Coinberry client accounts after OSC non-objection.

Frequently Asked Questions

Is Coinberry Still Operating?

No. WonderFi's Bitbuy took over all Coinberry client accounts in 2023, and coinberry.com now shows the Bitbuy site. Coinberry takes no new sign-ups.

Who Owns Coinberry Now?

Coinberry's accounts sit with Bitbuy, which was moved to Coinsquare Capital Markets Ltd. in 2024. Robinhood completed its purchase of their parent, WonderFi, on June 1, 2026.

Is Coinberry Registered In Canada?

Not any more. The CSA lists its decision among expired decisions, and FINTRAC shows Coinberry Limited as ceased on June 5, 2024.

What Did Coinberry Charge? Coinberry Fees In Canada

Deposits and withdrawals in CAD were free, but the spread ran from 0% to 2.5%. In my own $120 test the all-in cost was $3.00, or 2.5%.

What Is The Best Coinberry Alternative?

Coinbase is my top pick for beginners. Newton and NDAX are the other registered options I would look at first.

How Do I Withdraw From Coinberry To A Canadian Bank Account?

You no longer can on Coinberry itself, because the platform stopped operating separately. Follow the instructions in your Bitbuy or Robinhood account, where your balance now sits. When it was open, CAD deposits and withdrawals were free and a Bitcoin withdrawal to a private wallet took a few minutes in my tests.

Is Coinberry Safe And Legit?

It was a real, registered Canadian platform while it operated, but it is no longer a live service. The CSA lists its decision as expired and FINTRAC shows Coinberry Limited as ceased on June 5, 2024. Its insurance and cold storage claims were its own and I never verified them. Today the safe move is to use a platform that is on the CSA list.

Coinberry Vs Coinbase: Which Is Better For Canadians?

Only Coinbase is open. It is a CSA Restricted Dealer, funds by free Interac e-Transfer and EFT, and tops my ranking at 9.8. Coinberry charged a 0% to 2.5% spread and no longer takes sign-ups. Wealthsimple Crypto and Newton are the other registered options I would compare.